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1. The borrower (“Borrower”) acknowledges and confirms that the Borrower has read and
understood these Terms and Conditions and agrees to be bound by the same by providing
consent (“Consent”) in the following manner:
a. by physically signing the Terms and Conditions;
b. (when in receipt of the Terms and Conditions by SMS by sending a confirmation
to BFL through SMS from the Borrower’s registered mobile number; or
c. by clicking the “I Accept” tab on the webpage on BFL’s online customer portal,
Experia or mobile application.

2. The Borrower has existing loan(s) from BFL (“Loan(s)”) for purchase of products or
availing services including but not limited to apparel, holiday/travel packages, footwear,
groceries, kitchen appliances and accessories, using the EMI Card. Upon a request by
the Borrower, BFL may agree to convert the outstanding loan amount of Borrower’s
existing Loan(s) into a personal loan (“Personal Loan”) for an equivalent amount at its sole
and absolute discretion and subject to these Terms and Conditions.
3. The Borrower agrees that all existing Loans of the Borrower will be converted as a
consolidated Personal Loan upon the Borrower accepting these terms. Consequently, the
existing Loan Account Number (“LAN”) of the Borrower will be closed and the Borrower
shall be allocated a new LAN for the Personal Loan showing the total outstanding amount
due and payable. It is understood that the conversion will not involve any fresh
disbursement to the Borrower for Personal Loan.
4. Upon the conversion of the Loan(s) to the Personal Loan, the Borrower’s forthcoming EMI
against the Loan may be deducted from the Borrower’s bank account owing to a preset
deduction system. However, the EMI so deducted will be refunded to the Borrower.
5. The Borrower shall be liable to repay:
a. The outstanding principal amount of the Personal Loan, interest (on an annualized
rate basis), EMI, penal interest, fees, costs, charges including bounce charges and
all other sums whatsoever payable by the Borrower to BFL for Personal Loan and
any other amounts payable by the Borrower in respect of or incidental to the
Personal Loan or its recovery or realization charges (together referred as
“Outstanding Amount”);
b. other fees and charges as mentioned in the First Schedule and in the commercial
terms agreed between the Borrower and BFL, in relation to the Personal Loan, in
the form, substance and manner acceptable to BFL.
6. Any sums received by BFL from the Borrower shall be appropriated starting with (a)
interest payment; (b) principal amount; (c) overdue EMI payment; (d) bounce charges and
lastly (e) any other penal charges or claims of BFL from the Borrower under these Terms
and Conditions.
7. The statement of account issued by BFL regarding the balance amount due and payable
by the Borrower under these Terms and Conditions shall be accepted by and be binding
on the Borrower and shall be conclusive proof of the correctness of the amount mentioned
therein. Without prejudice to what is stated above, if the Borrower desires to question any
statement or any part thereof, the Borrower shall furnish to BFL full details of the same
within 10 business days of the receipt of the statement by the Borrower. Upon receipt of

the Borrower’s communication, BFL may consider the same and the Borrower shall not be
entitled to object to the same thereafter on any ground whatsoever. The Borrower shall
not be entitled to default or delay the payment of EMIs on the ground of the statement of
account issued by BFL being inaccurate or on any other ground.
8. The Borrower understands that the EMI amount may change due to changes in the interest
rates as revised by BFL from time to time, the repayment schedule or in any statutory
taxes, levies etc. Such changes shall be communicated to the Borrower and will be
effected only prospectively. The Borrower will keep abreast with all notifications and any
changes in the Terms and Conditions on the Website and shall be bound by the same and
shall not dispute.
9. The Borrower shall forthwith issue fresh post-dated cheques/ECS instruction to BFL, in
view of the revision in the repayment schedule. Any payments made by the Borrower will
be credited towards repayment of the Borrower’s Outstanding Amount only upon the
realization of the amounts due.
10. In the event the Borrower defaults in repayment of the Outstanding Amount, the Borrower
shall be liable to pay penal interest at the rate as specified in the First Schedule hereto,
from the date of default till the date of realization by BFL or the date when the Personal
Loan is booked by BFL in the name of the Borrower in BFL’s books, whichever is earlier,
without prejudice to any other rights of BFL under these Terms and Conditions.
11. Notwithstanding anything stated elsewhere in these Terms and Conditions, the
Outstanding Amount shall be payable by the Borrower to BFL on demand. BFL may at
any time in its sole discretion and without assigning any reason call upon the Borrower to
pay the Outstanding Amount and thereupon the Borrower shall, within 15 days of being
so called upon, pay the whole of the Outstanding Amount to BFL without any delay or
12. At the request of the Borrower, BFL may accept full prepayment of the Personal Loan and
foreclose the same if the Borrower has paid at least one EMI under the Personal Loan.
The full prepayment or foreclosure of the Personal Loan shall be subject to payment of
the applicable foreclosure charges on Personal Loan as communicated by BFL from time
to time and at the time of foreclosure.
13. The Borrower shall, during the tenure of the Personal Loan duly perform the obligations
under these Terms and Conditions and do all such things and execute all such writings,
as BFL may require from time to time. The Borrower further agrees to make regular
payment of EMIs on the due date(s) including all Outstanding Amounts.
14. The Borrower shall be deemed to have committed an act of default if the Borrower is in
breach of any of the Terms and Conditions mentioned herein. Upon occurrence of an
event of default, the Outstanding Amount shall forthwith become due and payable by the
Borrower to BFL without the requirement of any further notice to the Borrower.
15. The Borrower shall not in any manner be entitled to assign his/her rights and obligations
under these Terms and Conditions.
16. The Borrower hereby irrevocably authorizes BFL to destroy the repayment instrument(s)
(if any) in the possession of BFL upon repayment of the Personal Loan and Outstanding
Amount by the Borrower to the satisfaction of BFL.
17. The Borrower expressly recognizes and accepts that BFL shall, without prejudice to its
rights to perform such activities itself or through its officers/ employees, be entitled and
has full power and authority to appoint one or more third parties as BFL may select and
to delegate to such third party all or any of its functions rights and powers under these
Terms and Conditions relating to the administration of the Personal Loan including the
rights and authority to collect and receive on behalf of BFL from the Borrower all dues and
unpaid installments and other amounts due by Borrower under these Term and Conditions

and to perform and execute all lawful acts, deeds, matters and things connected therewith
and incidental thereto.
18. Any notice to be given to the Borrower in respect of these Terms and Conditions shall be
deemed to have been validly given if served on the Borrower or sent by registered post to
Borrower’s address or sent by way of an email on the registered email address of the
Borrower available as per BFL’s records.
19. The Borrower is aware that transmission of these Terms and Conditions, instructions,
acceptance(s) and communications (’Communications’) through electronic means such as
email, facsimile, SMS text messaging, websites, online consent etc. (’Electronic Media’)
involves a number of risks including fraudulent alterations, incorrect transmissions and
higher probability of breach of confidentiality and data security. Notwithstanding the above,
the Borrower hereby Consents to receiving Communications from and providing
Communications to BFL through Electronic Media in relation to Personal Loan.
20. Any delay in exercising or omission to exercise any right, power or remedy accruing to
BFL under these Terms and Conditions shall not impair any such right, power or remedy
and shall not be construed to be a waiver thereof, nor shall the action or inaction of BFL
in respect of any default or any acquiescence by it with respect to any default of the
Borrower affect or impair any right, power or remedy of BFL in respect of any other default.
21. The Terms and Conditions shall be governed by and construed in accordance with the
laws of India.
22. All claims, disputes, differences of any nature in relation to these Terms and Conditions
shall be referred to the sole arbitrator appointed by BFL. The Borrower agrees and
confirms that the arbitration proceedings shall be conducted in English and in accordance
with the Arbitration and Conciliation Act, 1996 as amended from time to time and the
proceedings shall be held at Pune or New Delhi or the capital of the State where the
Borrower resides, at the sole discretion of BFL. Pending the passing of award including
interim award, the Borrower shall be liable to perform all obligations under these Terms
and Conditions.
23. All disputes arising out of and/or in relation to these Terms and Conditions, the Personal
Loan and/or any other document in relation to the Personal Loan shall be subject to the
non-exclusive jurisdiction of the courts/tribunals at Pune or New Delhi.
24. The PL conversion offer, sent through SMS to customer’s registered mobile number, will
be valid for 24 hours post offer generation for the customer. The offer is generated
whenever (i) the customer breaches the EMI capping limit as per BFL risk policies or (ii)
the change of BFL risk policies


1. Foreclosure charges (a) 4% on principal amount of Loan

outstanding on the date of such
foreclosure plus the applicable

2. Part payment charges (a) 2% on part payment amount of

Loan outstanding amount on the
date plus the applicable taxes

(b) Bounce charges of the repayment instrument(s) In case of default by reason of the
repayment instrument(s) being
dishonored, BFL shall charge

Rs.350/- (Rupees Three Hundred
Fifty Only) per month/per default
towards its dishonor
(c) Outstation collection/administrative charges Rs. 110/- (Rupees One Hundred and
Ten Only) per repayment instrument
(d) Penal interest In case of delay in payment of
Monthly Installment, BFL shall
charge penal interest @ 4% per
month on an amount of Monthly
Installment outstanding as on that
(e) Other penal charges, if any