1Fi — Terms & Conditions

Last Updated: 22 May 2026

These Terms and Conditions ("Terms") govern your access to and use of the 1Fi mobile application, website, and related services (together, the "Platform").

The Platform is owned and operated by Fiquity Technology Private Limited, a company incorporated under the Companies Act, 2013, having its registered office at 1st Floor, Orchid Business Park, Sector 48, Gurugram, Haryana, India ("1Fi", "Company", "we", "us", or "our").

These Terms constitute a legally binding agreement between you ("User", "you", or "your") and 1Fi. By downloading, installing, registering on, accessing, or using the Platform, you confirm that you have read, understood, and agreed to be bound by these Terms and by our Privacy Policy, which is incorporated into these Terms by reference.

If you do not agree with any part of these Terms, please do not use the Platform.

1. Definitions

In these Terms, unless the context requires otherwise:

"Lending Partner" — any bank or Non-Banking Financial Company (NBFC) regulated by the Reserve Bank of India (RBI) with whom 1Fi has entered into an arrangement for the offering of credit facilities through the Platform. The current list of Lending Partners is made available within the App and on our website, and is updated from time to time.
"Loan" or "Credit Facility" — a loan against mutual funds, also referred to as a Loan Against Mutual Funds or LAMF, sanctioned and disbursed to you by a Lending Partner, including any checkout or purchase financing facility availed by you using such a loan.
"Pledged Units" — the units of mutual fund schemes that you offer as security for a Loan and over which a lien or pledge is created in favour of the Lending Partner.
"MFCentral" — the digital platform operated jointly by the Registrars and Transfer Agents (including CAMS and KFinTech) through which lien marking, pledge creation, and related instructions on mutual fund units are processed.
"KFS" or "Key Fact Statement" — the standardised statement of key loan terms provided to you by or on behalf of the Lending Partner before you accept a Loan.
"DLA" — a Digital Lending App as defined under the Reserve Bank of India (Digital Lending) Directions, 2025.

2. About 1Fi and Nature of Services

1Fi operates as a Lending Service Provider (LSP) and a Technology Service Provider (TSP). 1Fi acts as an LSP on behalf of one or more Lending Partners and provides a technology platform that allows eligible users to:

Discover, apply for, and manage credit facilities backed by their mutual fund holdings
Use such credit facilities to pay for purchases through equated monthly instalments (EMIs)

1Fi is not a bank, an NBFC, or a lender. 1Fi does not lend money, does not accept deposits, and is not directly engaged in money lending activities. 1Fi does not determine eligibility, assess creditworthiness, underwrite loans, or set interest rates.

Every decision relating to loan approval, rejection, sanctioned amount, loan-to-value ratio, interest rate, tenor, charges, disbursal, and recovery is taken solely by the Lending Partner.

The role of 1Fi is limited to:

Facilitating access to credit facilities offered by Lending Partners through a technology integration
Supporting the loan application and servicing journey
Enabling the pledge of mutual fund units as security through MFCentral
Providing related platform features

Any Loan you avail is a contract between you and the relevant Lending Partner. 1Fi is not a party to your loan agreement.

Where the Platform operates as a Digital Lending App, it is deployed in association with RBI-regulated Lending Partners, and the relevant regulatory registrations of such Digital Lending Apps are maintained with the RBI as required under applicable law.

3. Eligibility

To use the Platform and to apply for a Loan, you must:

Be at least eighteen (18) years of age
Be a resident of India
Be competent to enter into a legally binding contract under the Indian Contract Act, 1872
Hold valid mutual fund investments in your own name
Have the identification documents required for verification

You confirm that all information you provide is true, accurate, complete, and current, and that the mutual fund units you offer as security are owned by you and are free from any existing charge, lien, or encumbrance, except as disclosed.

We and our Lending Partners reserve the right to decline access to, or use of, the Platform to any person who does not meet the eligibility criteria or who provides false or misleading information.

4. Account Registration and Authentication

To use the Platform you must register and create an account using your mobile number, and complete verification through a One-Time Password (OTP) and any other authentication steps we may require. You agree to provide accurate registration details and to keep them updated.

You are responsible for:

Maintaining the confidentiality of your account credentials
All activity that takes place under your account

You must not share your credentials, OTPs, or device with any other person. You agree to notify us immediately at [email protected] if you become aware of any unauthorised use of your account or any breach of security.

We may suspend or restrict access to your account if we reasonably believe it has been compromised or is being misused.

5. How the Loan Against Mutual Funds Service Works

The Platform enables you to avail a Loan from a Lending Partner against the security of mutual fund units that you hold. In summary:

You complete registration and verification on the Platform
Fetch and review your eligible mutual fund holdings
Select the units you wish to offer as security
A lien or pledge is marked on those units in favour of the Lending Partner through MFCentral
The Lending Partner determines the credit limit or loan amount based on the value of the Pledged Units and its own credit policy
You may then use the sanctioned credit facility, including to pay for eligible purchases through EMIs at participating merchants

Your mutual fund units are not redeemed or sold when a lien is marked. You continue to remain the owner of the Pledged Units and continue to receive the benefit of any appreciation, dividends, or other entitlements, subject to the lien, unless and until the pledge is invoked in accordance with your loan agreement.

The availability of any specific feature, merchant, scheme eligibility, credit limit, or financing option is not guaranteed and may change at the discretion of 1Fi and the Lending Partners.

6. Role of Lending Partners; Loan Sanction and Loan Agreement

When you apply for a Loan through the Platform, you authorise 1Fi to share the information you provide with the relevant Lending Partner for the purpose of processing your application. The Lending Partner may carry out its own verification, including identity and KYC checks, credit bureau enquiries, and assessment of the Pledged Units.

All loan terms — including the sanctioned amount, interest rate, Annual Percentage Rate (APR), tenor, processing fees, penal charges, and other conditions — are determined by the Lending Partner and are set out in the loan agreement and the Key Fact Statement (KFS) provided to you.

You should read the KFS and the loan agreement carefully before accepting any offer. Where the Platform displays loan offers, it will present the key terms in a clear and comparable manner, and a link to the applicable KFS will be made available.

Your loan agreement, including any digital execution or e-signature, repayment obligations, and disclosures, is entered into directly between you and the Lending Partner. Loan amounts are disbursed by the Lending Partner in accordance with applicable law, including, where applicable, directly to your bank account or to the merchant for a specified end-use purchase.

A copy of the signed loan documents will be made available to you by or on behalf of the Lending Partner.

You acknowledge that 1Fi has no control over, and accepts no responsibility for, the credit decisions, verification processes, sanction, rejection, disbursal timelines, or servicing actions of any Lending Partner.

7. Pledge of Mutual Fund Units, Loan-to-Value and Margin Requirements

A Loan facilitated through the Platform is secured by a pledge or lien over your Pledged Units. By proceeding, you authorise the marking of a lien on the selected mutual fund units in favour of the Lending Partner through MFCentral and the relevant Registrars and Transfer Agents.

The Lending Partner sanctions a Loan up to a specified percentage of the value of the Pledged Units, known as the loan-to-value (LTV) ratio.

Because the value of mutual fund units changes with market movements, the value of your security may rise or fall after the Loan is sanctioned. If the value of the Pledged Units falls below the level required by the Lending Partner, the Lending Partner may require you to:

Pledge additional units, or
Repay a part of the outstanding Loan in order to restore the required margin

This is referred to as a margin call.

If you do not meet a margin call within the time specified, or if you default on repayment, the Lending Partner may, in accordance with your loan agreement and applicable law, invoke the pledge and cause the Pledged Units to be redeemed or sold to recover the amounts due. You may also lose the benefit of future appreciation on units that are sold.

The lien on your units is released after the Loan is fully repaid and closed, in accordance with the Lending Partner's processes.

8. Repayment, Charges and Key Fact Statement

You are responsible for repaying the Loan — including principal, interest, and all applicable charges — directly to the Lending Partner in accordance with the repayment schedule set out in your loan agreement and KFS.

Loans facilitated through the Platform are structured for repayment over a period that exceeds sixty (60) days.

All charges relating to a Loan — including interest, processing fees, foreclosure or prepayment charges, penal charges, and taxes — are:

Determined and levied solely by the Lending Partner
Disclosed to you in the KFS and the loan agreement before you accept the offer

1Fi does not separately determine or levy these loan-related charges. You should ensure that you understand all charges before accepting a Loan.

The Platform may provide tools to help you view your outstanding balance, due dates, and repayment status. These tools are provided for convenience, and the records of the Lending Partner will prevail in case of any discrepancy.

9. Fees Payable to 1Fi

1Fi does not charge you any mandatory fee merely for accessing or browsing the Platform.

Where 1Fi charges any fee for a specific service, the nature and amount of that fee will be disclosed to you clearly before you incur it, and you will have the opportunity to review it. You will not be charged any fee that has not been disclosed to you in advance.

10. Rewards, Cashback and No-Cost or Low-Cost EMI Benefits

From time to time, 1Fi may offer rewards, cashback, discounts, or no-cost or low-cost EMI benefits to eligible users. Such benefits are voluntary and discretionary, may be funded by 1Fi, by merchants, or by other partners, and are governed by the specific terms applicable to each offer at the relevant time.

Any such benefit is not guaranteed and may be modified, withheld, delayed, or withdrawn, including in cases of:

Missed or delayed payments
Premature loan closure
Cancellation or return of the financed purchase
Suspected fraud or incorrect information
Ineligibility, or where required by law

The calculation and grant of any reward, cashback, or benefit is determined by 1Fi in accordance with the applicable offer terms.

11. Mobile Application and Device Permissions

The 1Fi mobile application requests only those device permissions that are necessary to provide its services, and uses them strictly for the disclosed purposes and with your consent.

For example, the App may request access to:

The camera for capturing images required for KYC and verification
Limited device storage for uploading documents required for your application

1Fi does not access your:

Phone contacts
Call logs
SMS messages
Photo gallery or media library
Precise location

for the purpose of credit facilitation or recovery.

You may manage or withdraw permissions at any time through your device settings, although doing so may limit certain features of the App. Further details on the information we collect and the permissions we use are set out in our Privacy Policy.

12. User Obligations and Prohibited Conduct

You agree to use the Platform only for lawful purposes and in compliance with all applicable laws, including KYC norms, RBI directions, and data protection laws.

You agree that you will not:

Provide false, forged, or misleading information or documents
Impersonate any person
Offer mutual fund units that you do not own or that are already encumbered
Use the Platform for any unlawful, fraudulent, or commercial purpose not intended by 1Fi
Attempt to gain unauthorised access to, interfere with, disrupt, or compromise the security or functioning of the Platform

Any violation of these obligations may result in suspension or termination of your account and may be reported to the Lending Partners or relevant authorities.

13. Risks and Disclosures

You acknowledge and accept the following:

Mutual fund investments are subject to market risk, and the value of your Pledged Units may go up or down
A fall in value may trigger a margin call or, in case of default, invocation of the pledge and sale of your units
Availing a Loan creates a repayment obligation, and failure to repay may result in additional interest and charges, reporting to credit information companies, recovery action by the Lending Partner, and sale of the Pledged Units
Approval of any Loan, the applicable terms, and the timelines are controlled entirely by the Lending Partner
Your use of the Platform and any decision to avail a Loan is made at your own discretion and risk

Nothing on the Platform constitutes investment, tax, legal, or financial advice.

14. Intellectual Property

All content on the Platform — including the 1Fi name and logo, trademarks, software, source code, text, graphics, user interfaces, and design elements — is owned by 1Fi or its licensors and is protected by applicable intellectual property laws.

You are granted a limited, non-exclusive, non-transferable, revocable licence to use the Platform for your personal, non-commercial use in accordance with these Terms.

You may not copy, modify, adapt, translate, reverse-engineer, decompile, distribute, or create derivative works from any part of the Platform without our prior written consent.

15. Third-Party Services

The Platform integrates with, or contains links to, third-party services, including those of Lending Partners, MFCentral and the Registrars and Transfer Agents, payment service providers, and verification agencies.

These services operate independently and are governed by their own terms and policies. 1Fi does not control and is not responsible for the content, security, or practices of such third parties. Your use of any third-party service is at your own discretion and subject to the terms of that third party.

16. Data Protection and Privacy

Your use of the Platform is also governed by our Privacy Policy, which describes how we collect, use, share, store, and protect your personal data, and your rights in relation to that data.

By accepting these Terms, you confirm that you have read and understood the Privacy Policy.

17. Disclaimers and "As Is" Basis

The Platform is provided on an "as is" and "as available" basis.

To the extent permitted by law, 1Fi does not warrant that the Platform will be uninterrupted, timely, secure, or error-free, or that any defects will be corrected.

1Fi does not guarantee:

The approval of any Loan
Any particular loan terms
The availability of any Lending Partner, merchant, or financing option
Any reward or cashback

Loan approvals, interest rates, limits, timelines, and offers are controlled entirely by the Lending Partners.

18. Limitation of Liability

To the maximum extent permitted by applicable law, 1Fi and its directors, officers, employees, and affiliates shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or for any loss of profits, data, goodwill, or opportunity, arising out of or in connection with:

Your use of the Platform
Any loan decision or action of a Lending Partner
Any delay or failure in cashback or rewards
Any market loss on your mutual fund units
Any act or omission of a third-party provider

To the extent 1Fi is found liable for any direct loss, its total aggregate liability shall not exceed the total amount of fees, if any, actually paid by you to 1Fi in the three (3) months preceding the event giving rise to the claim.

Nothing in these Terms excludes any liability that cannot be excluded under applicable law.

19. Indemnity

You agree to indemnify and hold harmless 1Fi and its directors, officers, employees, and affiliates from and against any claim, demand, loss, liability, cost, or expense, including reasonable legal fees, arising out of or in connection with:

Your breach of these Terms
Your misuse of the Platform
Your violation of any applicable law
Any false or misleading information provided by you

20. Suspension, Termination and Account Deletion

We may suspend, restrict, or terminate your access to the Platform, with notice where reasonably practicable, if you breach these Terms, provide false information, engage in fraudulent or unlawful activity, or where required by law or by a Lending Partner or regulator.

You may stop using the Platform at any time.

You may request deletion of your 1Fi account, together with the personal data associated with it, at any time:

Through the account settings within the App, or
By writing to us at [email protected]

We will process such requests in accordance with our Privacy Policy.

Important: Deletion of your 1Fi account does not cancel, close, or extinguish any Loan you have availed or any repayment obligation you owe to a Lending Partner. Any outstanding Loan must be repaid in accordance with your loan agreement. Certain information may need to be retained by 1Fi and the Lending Partners to comply with legal, regulatory, and audit requirements.

Termination does not affect any rights or obligations that have accrued before the date of termination.

21. Grievance Redressal

1Fi is committed to resolving user concerns in a fair, transparent, and time-bound manner. If you have any complaint or concern relating to the Platform, you may contact our Grievance Redressal Officer:

Officer: Pranav Aggarwal
Email: [email protected]
Address: 1st Floor, Orchid Business Park, Sector 48, Gurugram, Haryana, India
Working Hours: Monday to Friday, 10:00 AM to 6:00 PM (excluding public holidays)

When raising a grievance, please provide:

A clear description of the issue
Your registered mobile number
Any relevant reference identifiers, screenshots, or documents

We will acknowledge your complaint within forty-eight (48) working hours and endeavour to resolve it within thirty (30) days.

For complaints relating to a Loan — including loan terms, sanction, rejection, EMI debits, interest, charges, or recovery — we will coordinate with the relevant Lending Partner. As 1Fi is not the lender, certain loan-related matters may need to be addressed by the Lending Partner, which maintains its own nodal grievance redressal officer and complaint mechanism.

If your complaint is not resolved within 30 days, or if you are not satisfied with the resolution, you may escalate the matter to the RBI, including through the Reserve Bank Integrated Ombudsman Scheme and the RBI Complaint Management System, or to the relevant consumer protection forum, as permitted under applicable law.

22. Governing Law and Dispute Resolution

These Terms are governed by and construed in accordance with the laws of India.

Subject to any applicable regulatory grievance and ombudsman mechanism, the courts at Gurugram, Haryana, India shall have exclusive jurisdiction over any dispute arising out of or in connection with these Terms or the Platform.

23. Changes to these Terms

We may update or modify these Terms from time to time to reflect changes in our services, in applicable law, or in regulatory requirements.

The updated Terms will be posted on the Platform with a revised "Last Updated" date, and, where the changes are material, we will take reasonable steps to notify you.

Your continued use of the Platform after the updated Terms take effect constitutes your acceptance of the changes.

24. Contact Information

Fiquity Technology Private Limited (1Fi)

Email: [email protected]
Registered Office: 1st Floor, Orchid Business Park, Sector 48, Gurugram, Haryana, India