CenturyLoans

Terms and Conditions

Last Updated: September 21, 2025

Please read these Terms and Conditions ('Terms') carefully before using the services offered by Century Vehicle Loans Private Limited ('the Company', 'we', 'us'). Your access to and use of our services is conditioned upon your acceptance of and compliance with these Terms. This applies to all visitors, users, and others who access or use the service.

1. Acceptance of Terms & Conditions

  • I agree to abide by the Company's Terms and Conditions and rules in force and the changes thereto in Terms and Conditions from time to time relating to my account as communicated and made available on the Company's website.
  • I agree that the opening and maintenance of the account is subject to rules and regulations introduced or amended from time to time by the Reserve Bank of India.

2. Customer Due Diligence (KYC)

  • I agree that the Company before opening any deposit account, will carry out a due diligence as required under Know Your Customer guidelines. I would be required to submit necessary documents or proofs, such as identity, address, photograph and any such information to meet with KYC, AML or other statutory/regulatory requirements.
  • Further, after the account is opened, in compliance with the extant regulatory guidelines, I agree to submit the above documents again at periodic intervals, as may be required by the Company.
  • I agree that any change in my account status or change of address will be immediately informed to the Company failing which I shall be responsible for any non-receipt of communication/deliverables or the same being delivered at my old address.

3. Account Management & Operations

  • I agree that, under normal circumstances, the Company has the liberty to close my account at any time by giving me at least 30 days notice. However, if the Average Monthly/ Quarterly Balance, is not maintained, the Company reserves the right to close my account without giving any prior notice.
  • I agree that I will maintain the minimum balance in my account as prescribed by the Company from time to time.
  • I agree that an account may be opened on behalf of a Minor by his natural guardian or by a guardian appointed by a court of Competent Jurisdiction. The guardian shall represent the Minor in all transactions until the said Minor attains majority.
  • In case there are no transactions initiated by me in the account for a continuous period of two years, I agree that the account would be treated as a 'Dormant' Account.
  • I agree that in the event of an account being overdrawn, the Company reserves the right to set off this amount against any credit lying in any of my accounts.

4. Fees, Charges, and Payments

  • I agree that I shall be liable to pay all charges, fees, interest, costs wherever applicable, which the Company may levy with respect to my account or any transaction or services rendered and the same may be recovered by the Company by a debit to my account.
  • I agree that I shall not pay any amount in cash to any Sales Representative of the Company at the time of opening an account or carrying out any transaction. I agree to deposit cash only at the Company's official payment channels.
  • I agree and undertake to ensure that there would be sufficient funds/cleared balance/pre-arranged credit facilities in my account for effecting transactions.

5. Services, Communications & Third Parties

  • I agree that the Company may, at its discretion, engage the services of Business Facilitators (BF) and Business Correspondents (BC) for extension of banking and financial services. The Company, however, shall be responsible for their acts and omissions.
  • I agree that the Company will send me communications/letters etc. through courier/messenger/mail or through any other mode at its discretion and shall not be liable for any delay arising there from.
  • The Company shall be entitled at its discretion to engage services of any third party service provider/agent/agency, for anything required to be done for collections, recovery of dues, and enforcement of security.

6. Data Privacy and Disclosure

  • I agree that the Company may disclose, in strict confidence, to other institutions, such Personal Information as may be reasonably necessary for reasons inclusive of participation in any electronic clearing network, compliance with a legal directive, credit rating by recognized credit rating agencies (CIBIL), and for fraud prevention purposes.
  • I give consent to the Company to disclose information provided for the purpose of cross selling by its partners and marketing agents, subject to 'Do Not Call' registry guidelines.
  • Any personal information or sensitive information collected by the Company shall be dealt with in accordance with the privacy policy of the Company.

7. Liability, Indemnity & Legal

  • The Company shall not be liable for any damages or losses whatsoever, due to disruption or non-availability of any services due to a Force Majeure event (any event beyond the reasonable control of the Company).
  • I agree that I shall indemnify and hold the Company harmless against all actions, claims, demands, losses, damages, costs, and expenses whatsoever which the Company may incur as a consequence of my negligence, mistake, or misconduct.
  • I hereby grant and confirm the existence of the right of lien and set-off with the Company, which it may use to appropriate any moneys belonging to me towards any of the Company's dues.
  • All claims, matters and disputes are subject to the exclusive jurisdiction of the competent courts in Vadodara, Gujarat. These Terms shall be governed by the laws of the Republic of India.

Contact Information

Should you have any questions or complaints relating to these Terms, you can approach our Grievance Redressal Cell. For more information, please contact us at Century Vehicle Loans Private Limited, Ground Floor, Shastri Brg, opposite Polytechnic College, Nizampura, Vadodara, Gujarat 390002.