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Terms of Use

Last updated on: 15th October 2020

This document is an electronic record in terms of the Information Technology Act, 2000, and rules made thereunder as applicable, and the prevailing law(s) as may be applicable at the relevant point of time. This Terms of Use is an electronic record is generated by a computer system and does not require any physical or digital signature.

As a User, you are obliged to read, understand and before accessing the web portal / mobile application. Upon commencement of your access / usage and by submitting your one-time electronic Acceptance / confirmation / authenticationeither through a registered mobile phone or through any electronic / web platform and/or through your email id, submitted to Spark Financial Technology Private Limited is construed as deemed acceptance.


  1. SPARK.LOANS PORTAL and SPARK.LOANS MOBILE APP of Spark Financial Technology Private Limited (“SFTPL”), collectively known as ‘SFTPL Network’ operates and facilitates a mobile application named as and any other dedicated electronic platform that may be introduced or amended from time to time. For brevity sake, an existing SFTPL customer and eligible individual who are new to SFTPL and who visit SFTPL Network, are collectively referred to as “User(s)”.

  2. SFTPL Products & Services: A User may (i) browse, check, and avail various products/services which are available through the said SFTPL Network and (ii) all existing registered Users / customers of SFTPL to access the SFTPL Network basis their details of existing loan(s) availed through SFTPL Network from its Financial Partners including but not limited to such other facilities/finance facilities/services offered via SFTPL Network, from time to time (hereinafter SFTPL Products & Services ”).


  1. By accessing/logging in, browsing or otherwise the individual using the SFTPL Network hereby represents and warrants that he/she is an “eligible individual” being:

    1. 18 (eighteen) years of age or above;

    2. is a citizen of India;

    3. is capable of entering into a legally binding agreement; and

    4. is not barred or otherwise legally prohibited, from accessing or using the SFTPL Network and/or from availing SFTPL Products & Services. The User further acknowledges and agrees

    5. that User shall be the sole owner and customer of the SFTPL Network Account and cannot have more than one SFTPL Network Account at any point of time and if User allows any individual to use User’s SFTPL Network Account, such usage being not appropriate and not permitted by SFTPL, the User will be solely responsible for any consequences thereof and for all actions taken in and/or through SFTPL Network.

  2. In addition to the above-mentioned requirements, the User may also have to fulfill additional criteria’s as may be specified on the SFTPL Network to avail SFTPL Products & Services.

  3. If the User violates any of these Terms, SFTPL reserves the right to terminate such User’s access or delete such User’s account on SFTPL Network Account and/or prohibit User from using or accessing such SFTPL Network Account. SFTPL may temporarily or permanently suspend or block access to the SFTPL Network Account if it has reason to believe that there is suspicious or unusual activity being carried out by the User. User may reach out to the SFTPL Grievance redressal team to assist you with any query or question arising as a result of the afore- mentioned suspension/ deletion to resolve the same.


Before using the SFTPL Products & Services, the User must carefully read these Terms of Use, Security Terms and the Privacy Terms provided at By Accessing, browsing or otherwise using the SFTPL Network and/or SFTPL Products & Services provided by SFTPL, the User agrees and explicitly consents to all the terms and conditions under the Terms of Use, Security Terms and the Privacy Terms, including any modification/amendments thereof from time to time (collectivelyTerms”) by confirming the same through One Time Password (“OTP”) sent on his/her mobile number and/or confirming acceptance over his/her email available in SFTPL records and/or submitted by User to SFTPL.

By submitting the “OTP” User hereby agree and expressly authorize SFTPL/ its representatives/agents/ its group companies/affiliates to send communications regarding, completion of this application/on-boarding process, loans, insurance and other products from SFTPL, its group companies and/or third parties that have partnered with SFTPL, through Telephone calls/SMS/emails/notifications/post/bitly/bots/ in person communication etc. including but not limited to any promotional communications/messages.


User will also have the option to withdraw his/her consent for these Terms of Use, after fulfilling the pending contractual obligations if any to SFTPL. After fulfilling the contractual obligations, User is at liberty to refrain from using the SFTPL Network and/or SFTPL Products & Services. However, User’s continued use/availing of the SFTPL Network / SFTPL Products & Services would be construed as deemed acceptance of these Terms and its associated policies mentioned hereof, including any modification thereof.


  1. User agrees NOT to use SFTPL Network: (i) for making any fraudulent transactions, and (ii) for purposes that are unlawful, illegal or forbidden by these Terms of Use or under any applicable laws. SFTPL may, at its sole discretion, at any time and without prior notice or liability, impose additional requirements and restrictions or suspend, terminate or restrict your access to SFTPL Network and/or SFTPL Products & Services (or any portions thereof).

  2. User shall be solely responsible for maintaining the confidentiality and security of User’s SFTPL Network Account, password, PIN, OTP, login details, etc. (“Credentials”) and activities that occur in or through your SFTPL Network Account, further SFTPL shall not be liable for any loss/damage caused to the User, in any manner whatsoever, arising out of/in relation to, misuse of the Credentials of the Users, with or without their knowledge.

  3. User further agree NOT TO:

    1. host, display, upload, modify, publish, transmit, update or share any material or information that: (a) belongs to another person and to which the User does not have any right to; (b) is grossly harmful, harassing, blasphemous, defamatory, obscene, pornographic, pedophilic, libelous, invasive of any other individual's privacy, hateful, or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or gambling, or otherwise unlawful in any manner whatsoever; (c) harm minors in any way; (d) deceive(s) or mislead(s) the addressee about the origin of such messages or communicates any information which is grossly offensive or menacing in nature; (e) impersonates another person; (f) contains software viruses, worms, trojans, spyware, adware, software disabling codes, other malicious or intrusive software, or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer resource or any spyware; (g) threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign States, or public order or causes incitement to the commission of any cognisable offence or prevents investigation of any offence or is insulting any other nation; (h) infringes the intellectual property rights, legal rights, or interests of any third party; (i) adversely interferes with the working of the SFTPL Network or parts thereof, and or modifies or disables any of the functionality and/or the settings of the SFTPL Network, including without limitation any security measures deployed on the SFTPL Network.

    2. Falsify or delete any author attributions, legal or other proper notices or proprietary designations or labels of the origin or source of software or other material contained in a file that is uploaded;

    3. Violate any code of conduct or other guidelines, which may be applicable for or to any portion of SFTPL Network and/or availed SFTPL Products & Services.

    4. Violate any applicable laws for the time being in force in or outside India;

    5. Attempt to gain unauthorized access to any portion or feature of SFTPL Network, or any other systems or networks connected to SFTPL Network or to any server, computer, network, or to any of the services offered on or through SFTPL Network by hacking, password “mining” or any other illegitimate means;

    6. Reproduce, duplicate, copy, sell, resell or exploit any portion or feature of SFTPL Network, in any manner whatsoever;

    7. Probe, scan or test the vulnerability of SFTPL Network or any network connected to SFTPL Network or breach the security or authentication measures on SFTPL Network or any network connected to SFTPL Network;

    8. Reverse look-up, trace or seek to trace any information of any other User(s) of SFTPL Network, including any account on SFTPL Network of any other User(s), to its source, or exploit SFTPL Network or any service or information made available or offered by or through SFTPL Network.


The User shall be responsible to pay fees/charges, that may be applicable to transactions executed through SFTPL Network or for use of the SFTPL Network/ SFTPL Products & Services or any feature thereof, to SFTPL or to such third party, as the case may be. However, wherein such fees/charges are applicable, the User shall be informed by SFTPL about the nature and quantum of such fees/charges and only upon explicit consent of the User for paying the applicable fees/charges, the transaction shall be processed further. SFTPL shall have full right in its sole and absolute discretion to determine nature and quantum of fee/charges that may be applicable to the transactions executed through SFTPL Network or for use of the SFTPL Network or any feature thereof.


The User herby acknowledges and agrees that SFTPL collects, holds, uses and transfers his/her personal data in accordance its Privacy Terms [available at (, to the extent permitted by applicable law, any data provided by him/her in connection with the SFTPL Network Services or collected by SFTPL from User’s access to the SFTPL Network may be shared with a third party in order to complete the transaction initiated by the User and/or used by SFTPL for enhancing the SFTPL Network Services, including but not limited to facilitating new products, the manner of such collection, usage, processing and storage has been specified below :-

  1. Type of information collected: SFTPL collects / will collect such information that is necessary for the specified, explicit and lawful purposes of rendering the SFTPL Products & Services and will not further process it in a manner that is inconsistent with the said purposes. Further, SFTPL does not transfer, sell or subject the Users information to any other purpose, other than for the limited purpose of promoting the business carried by SFTPL. SFTPL may collect the following types of information: -

    1. Information provided by the User:

      1. When the User commences using the SFTPL Network / SFTPL Products & Services , SFTPL may ask the User to provide certain information as part of the registration process/login process/sign-up process, and in the course of User’s interface with the SFTPL Network and while availing SFTPL Products & Services, SFTPL may collect the information through various online sources, including through account registration forms, contact us forms, or when User interacts with SFTPL, including but not limited to customer support team.

      2. At the time of registration/login/ sign-up to the SFTPL Network and/or while availing the SFTPL Products & Services, SFTPL may ask for the following information: -

        • Name (First Name, Middle Name and Last Name);

        • Mobile Number;

        • Email ID;

        • PAN Card;

        • Subject to applicable law, documents as may be required for KYC Compliance.

      3. Pursuant to the features of the SFTPL Network or the nature of SFTPL Products & Services availed by the User, from time to time, SFTPL may seek additional information including address, payment or banking information, credit/debit card details and any other governmental identification numbers or documents, in accordance with the applicable law. The User may choose to provide such additional information if he/she chooses to avail the said feature of the SFTPL Network or the SFTPL Products & Services.

    2. Information captured while using/browsing SFTPL Network:

      1. The User acknowledges and agrees that all information collected by SFTPL is on an “as-is” basis and SFTPL shall not be responsible for the authenticity of the information provided by such User.

      2. SFTPL collects information relating to Users who use /browse SFTPL Network through various technologies. This includes transaction details related to User, including the manner of use of SFTPL Products & Services, the type of services requested by User, the payment method/amount and other related transactional and financial information. Further, depending on the rewards/offers claimed/availed by User, SFTPL also collects the order details, delivery information etc.

      3. SFTPL may from time to time, during User’s utilization of the SFTPL Network/ SFTPL Products & Services, require access to certain additional information only after obtaining such User’s additional explicit consent, such additional information may include: User’s SMS information stored on User’s device, User’s location information (IP address, longitude and latitude information), for verifying the location of the customer, as also to verify location and to check the feasibility of SFTPL Network’s serviceability, User’s device and/or call log details/ contact details, to prevent fraud and to stop unauthorized device access of SFTPL Network on User’s behalf, and User’s email details/access to verify the credentials of the User, including the User’s conduct on online platform.

    3. Information Collected from Third Parties

      • SFTPL may, upon receiving User’s consent, request certain third parties to provide information about User to further personalize User’s experience on SFTPL Network, and provide certain services that cannot be accessed by all users of the SFTPL Network.

      • SFTPL may collect User’s credit related information (e.g. credit score) from third parties (e.g. TransUnion CIBIL) under a contract.

      • SFTPL may receive additional information about User, such as information to help detect fraud and safety issues, from third party service providers and/or partners, and combine it with information SFTPL have about User. SFTPL may receive information about User and User’s activities through partnerships, or about User’s experiences and interactions from SFTPL partner networks.

  2. How the collected Information is used

    1. Information of User is collected for providing SFTPL Products & Services to the User, and to comply with applicable laws (if any). User hereby agrees and acknowledges that SFTPL may, to the extent permitted by applicable law, share or process User’s information, provided by him/her in connection with the SFTPL Network Services or collected by SFTPL from User’s access to the SFTPL Network, with its group companies, subsidiaries, affiliates, service provider, agencies and/or any third party, including but not limited to the purposes, such as, to complete the transaction initiated by the User, to render service to the User and/or to enhance the SFTPL Network Services for Users, to offer new products etc. The manner of such collection, usage and storage is governed by the Privacy Terms stated below.

    2. SFTPL may utilize User’s information for the following purposes:

      1. To curate/optimize loan related offers and rewards customized for such User;

      2. To curate specific financial product/other products for User based on User’s financial transactions, investments, and past financial behavior.

      3. To improve the services SFTPL provides to the User, SFTPL may also collect other types of information which are not directly or indirectly linked to a User and which is aggregated, anonymized or de-identified, as the case may be.

      4. Providing, processing, maintaining, improving and developing SFTPL Network / SFTPL Products & Services to the User, including but not limited to customer support functions.

      5. Communicating with User about SFTPL Network / SFTPL Products & Services, or addressing any general queries, such as updates, customer support, or information about our events or notices.

      6. Conducting marketing related activities, such as providing marketing and promotional materials.

      7. Analyzing statistical information about the use of SFTPL Network to improve SFTPL Products & Services.

      8. Storing and maintaining information about User for complying with our legal obligations.

    3. Following is an illustrative list of activities (which are inclusive only, but not exhaustive in nature) whereby SFTPL may further use User’s information for: -

      1. Creating Account: Setting up User’s SFTPL Network account and for availing SFTPL Products & Services.

      2. Identifying devices: Device related information and application related information may be used to identify Devices when User uses SFTPL Network;

      3. Verifying User: SFTPL uses information to verify the User identity and to ensure that there is no log-in by any unauthorized persons.

      4. Managing risks and conducting anti-fraud checks: Device related information as well as User’s contacts, location and information may be used to control risk, detect fraud and provide better services to the User;

      5. Diagnosing service failures: Logs information may be used to help diagnose service or technical problems and maintain security.

      6. Conducting data analysis: Device related information and application related information may be used to analyse and develop statistical information on use of SFTPL services to improve the quality of services provided to the User;

      7. Improving User experience: SFTPL may analyse data about how users use SFTPL Network, to improve the User experience.

      8. Collecting User feedback: In order to follow up on the feedback that User have chosen to provide, SFTPL may correspond with User utilising the information provided and may keep records of the same.

      9. Sending notices: From time to time, SFTPL may use User’s information to send important notices, such as communications about changes to the terms, conditions, and policies.

      10. Applicable Law: As per prevailing laws.

    4. SFTPL may utilise User name, phone number, email address and SFTPL Network account details (if any), to promote marketing of its products/services. User may be enabled with the right to opt out from receiving promotional communications from SFTPL by sending an email to [].

    5. SFTPL may utilise the information as part of payment services such as to enable User to access and utilise the payment services in compliance with prevailing law & regulations and share such information with Third-party Service Providers for a seamless experience for Users.

8. Cookies

SFTPL uses data collection devices such as “cookies”, etc. on certain parts of the SFTPL Network to help analyse the SFTPL Products & Services, user interaction with the SFTPL Network, offer suitable products/services as per the access pattern of the User and/or for any other reasons. For the sake of clarity, “cookies” are small files which are accessed either on the web/mobile platform and/or placed on User’s device hard-drive/storage that assist in providing the services. Please be informed that SFTPL may offer certain features via the SFTPL Network that may only be available through use of a “cookie”.


  1. The SFTPL Products & Services, including all content, software, functions, material, and information made available or accessible through the SFTPL Network are provided on “as is” basis. SFTPL or its agents, co-branders or partners, make no representation and warranty of any kind for the content, software, functions, material, and information available/accessible through SFTPL Network.

  2. SFTPL does not warrant in any manner whatsoever that the functions contained in content, information and materials on the SFTPL Network, including, without limitation any third-party sites or services linked to the SFTPL Network will be uninterrupted, timely or error-free, that the defects will be rectified, or that the SFTPL Network or the servers that make such content, information, and materials available are free of viruses or other harmful components.

  3. User understand that a payment transaction if any is solely between the User who uses the SFTPL Network to make his/her payment (“Sender”) and the User who receives such payment from the Sender (“ Recipient”) and that SFTPL does not provide any guarantees or warranties with respect to any User or any service, goods, or delivery level commitment provided by such User. SFTPL cannot assure that other users are or will be complying with the foregoing rules or any other provisions mentioned here. User assume all risk of harm or injury resulting from any such lack of compliance by any other user or any person. The User should ensure that he/she has undertaken adequate due diligence prior to transferring payments using the SFTPL Network.

  4. SFTPL shall not be liable for damages or injury, including without limitation, caused by any performance, failure of performance, error, commission, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, link failure, website /SFTPL Network crash, malfunctioning of software/hardware, unavailability of network, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information. SFTPL shall also not be responsible or liable for any delay in acceptance and/or execution or non-acceptance and/or non-execution of the transactions undertaken by User on the website/SFTPL Network, due to any reason whatsoever.


Notwithstanding anything contained in these Terms or any other document, in no event shall SFTPL be liable for any claims, loss, damages etc., of whatsoever nomenclature, whether arising from negligence, breach of terms or otherwise and the User hereby waives its rights of making any claim, dispute or litigate in any manner whatsoever.


User agrees to defend, indemnify and hold harmless SFTPL, its promoters, officers, directors, employees and agents, partners, co-branders, licensors, licensees, consultants, contractors and other applicable third parties (collectively ‘Indemnified Parties’) from and against any and all claims, demands, damages, obligations, losses, liabilities, cause of action, costs or debt, and expenses (including any legal fees) arising from: -

  1. User’s access of/to the SFTPL Network / SFTPL Products & Services;

  2. User’s violation of any of these terms, including but not limited to Terms of Use and/or Privacy Terms;

  3. User’s violation of any third party right, including any intellectual property right or privacy right;

  4. User’s failure to be in compliance with applicable law, including tax regulations; or

  5. Any claim raised by any third party, arising out of any damage caused to such party from User’s access or usage of SFTPL Network and/or SFTPL Products & Services.


  1. SFTPL, SFTPL Network / SFTPL Products & Services are protected by copyright, trademarks, patents, trade secret and/or other intellectual property laws. No information, content or material from the SFTPL Network may be copied, reproduced, republished, uploaded, posted, transmitted or distributed in any way without SFTPL's express written permission. The User are hereby given a limited permission to use the SFTPL Network, subject to his/her agreement of these Terms.

  2. When the User uploads, submits, stores, sends or receives content that may include feedback to or through SFTPL Network, the User grants SFTPL unconditional permission to use, host, store, reproduce, modify, create derivative works, communicate, publish, publicly perform, publicly display and distribute such content. The permission so granted by User in favour of SFTPL is for the limited purpose of operating, promoting, and improving the SFTPL Network and SFTPL Network Services, offered by itself and/or through any of its group companies, subsidiaries, affiliates, service providers, agents, and also to develop new features and services.


User hereby agrees to comply with any and all applicable tax laws in connection with use of the SFTPL Products & Services, including without limitation, the reporting and payment of any taxes arising in connection with payments made through the SFTPL Network, or funds/income received through the SFTPL Network.


All transactions with the SFTPL Network by the User and entire relationship as contemplated herein shall be governed by the laws of India. User agrees that all claims, differences and disputes which we may have shall be subject to the exclusive jurisdiction of the competent courts located in Mumbai, Maharashtra.


  1. SFTPL is the sole owner of all rights, titles and interest including any and all intellectual property rights in SFTPL Network.

  2. SFTPL grants User a limited permission to access and use SFTPL Network for personal, non- commercial use and the same is non-transferable and it does not confer any right to download, copy, create a derivative work from, modify, reverse engineer, reverse assemble or otherwise attempt to discover any source code, sell, assign, sub-license, grant a security interest in or otherwise transfer any right in SFTPL Network or the services provided thereon. User do not have the right to use any of SFTPL’s trade names, trademarks, service marks, logos, domain names, and other distinctive brand features.

  3. Any unauthorized use of SFTPL Network shall trigger breach of these terms and would result in legal action being initiated by SFTPL against the User under the prevailing laws.


SFTPL shall not be held responsible for any damage, loss, non-availability of the SFTPL Network or SFTPL Network services or deficiency in provision of the same, which are beyond the control of SFTPL and which are resulting directly or indirectly, for reasons such as, including but not limited to:

  1. fire, earthquake, any other natural calamity, flood, epidemic,

  2. strike, lockout, labor unrest,

  3. riot, civil disturbance, war, civil commotion,

  4. act of God, act of terrorism, emergency (declared for health or other reasons),

  5. court order, change in law, or any other circumstance,

  6. network/server downtime either of its own or procured through third parties, suspension, interruption, malfunctioning of the wireless technology, peripherals, software systems, communication failure, hacking etc.,

  7. any unauthorized disclosure/breach personal/sensitive personal information, etc and any direct/indirect losses suffered by User due to User’s conduct, such as:

    1. User’s conduct in using third party extensions, plug-ins or add-ons on the/your web browser;

    2. User shall NOT access darknet, unauthorized/suspicious websites, suspicious online platforms, downloading applications from unreliable sources;

    3. User shall NOT respond to any generic emails or any web /bitly/chatbot links, any other link in electronic form etc., from an unknown/unidentified source;


  1. No joint venture, partnership, employment or agency relationship exists between User and SFTPL.

  2. If any provision of these Terms is held to be illegal, invalid or unenforceable, in whole or in part, under any applicable law, such provision or part thereof shall to that extent be deemed not to form part of these Terms but the legality, validity and enforceability of the other provisions in these Terms shall not be affected. In that event, SFTPL shall endeavour to replace the illegal, invalid or unenforceable provision or part thereof with a provision or part thereof that is legal, valid and enforceable and which shall be binding on the User.

  3. These Terms constitute the entire agreement and understanding of the parties with respect to its subject matter and replaces and supersedes all prior or contemporaneous agreements or undertakings regarding such subject matter.


  1. SFTPL reserves the right to make changes to, or update SFTPL Network, or to charge for its SFTPL Products & Services, at any point of time and for any reason. The User shall be required to download the updates if User intends to keep using SFTPL Network. However, SFTPL does not promise/guarantee in any manner whatsoever about the continuous availability of the SFTPL Network and/or that it shall always update SFTPL Network so that same is relevant/accessible to User or that the updated versions of SFTPL Network will always be compatible with User’s mobile devices/computer/electronic operating systems.

  2. SFTPL reserves the right, at its sole discretion, to change or otherwise modify these Terms at any time by posting an updated version on the SFTPL Network.

  3. The updated version of these Terms shall supersede the previous version of the Terms and shall be immediately effective upon posting on the SFTPL Network and/or SFTPL website.


Name: Ankit Jain

Address: A 8, Narayan Plaza, 26A Chandivali RD, Sakinaka, Kurla, Near Chandivali Studio, Mumbai-400072.