UdhaarWala is a loan facilitation platform, not the lender for a loan. Still, the design of a digital application can materially affect a borrower’s choices. We therefore aim to make the journey easier to understand, particularly when a user is under financial pressure.
Our commitments as a platform
- We do not present an application submission as a loan approval, disbursal or guaranteed offer.
- We distinguish illustrative calculations from the lender’s final annual percentage rate, fees, instalment schedule and loan agreement.
- We ask users to provide information relevant to a personal-loan application and explain why common documents are requested.
- We build application stages so users can pause, save and return instead of being rushed into submission.
- We give users an in-product status view and a documented path to provide any further information requested by an authorised reviewer.
- We do not support abusive, threatening, deceptive or coercive collection conduct. Loan servicing and recovery, when applicable, are governed by the identified lender’s process and applicable law.
Before you apply
Borrow only for a genuine and considered purpose. A personal loan may be useful for an unavoidable cost, but it is still a repayment obligation. Before applying, compare the likely monthly instalment with your take-home income, rent, food, family responsibilities, existing EMIs, insurance, medical costs and a reasonable emergency buffer.
- Decide the smallest amount that addresses the need rather than applying for the maximum available amount.
- Choose a tenure you can sustain. A longer tenure can reduce the monthly instalment but may increase the overall cost of borrowing.
- Do not rely on an indicative EMI alone. Read the lender’s Key Facts Statement and loan agreement before accepting a loan.
- Do not borrow to repeatedly service other expensive debt without taking independent financial advice or exploring safer alternatives.
Affordability and suitability
Where an application is evaluated by a lender, the lender determines the relevant credit criteria and affordability assessment under its own policies. UdhaarWala may collect the information that a lender requires to consider an application, but it does not replace the lender’s independent decision-making or statutory obligations.
Not receiving an offer does not necessarily mean anything is wrong with an applicant. A lender may decline or limit an application for many reasons, including its product criteria, internal risk policy, information available at the time of review or regulatory requirements.
Transparent pricing and the Key Facts Statement
Where a loan offer is made, the identified lender should provide the borrower with the applicable Key Facts Statement and loan agreement before the borrower accepts the loan. These documents—not an eligibility estimate, marketing message or app screen—set out the loan’s binding terms. Review the annual percentage rate, interest calculation, processing or other lender charges, repayment schedule, penal charges, prepayment treatment, cooling-off or look-up period where applicable, and grievance contact.
If any material term is unclear, do not accept the loan until the lender has explained it through the support channel named in the offer documentation.
Respectful servicing and recovery
Repayment should be handled with dignity. The lender’s approved process and applicable regulation govern servicing and recovery. We expect any authorised partner operating through this platform to maintain clear borrower communications and to avoid harassment, threats, public shaming, contact-list misuse or inappropriate contact times. If you receive a suspicious communication claiming to be from a lender or UdhaarWala, verify it through the official contact details before sharing information or making a payment.
When it may be better to wait
Pause and reconsider if the proposed EMI would leave little room for essentials, your income is unstable, you have already missed repayments, you are being pressured to decide immediately or you cannot clearly identify the lender, the annual percentage rate or the total repayment amount. Credit is optional; understanding it is essential.