Terms of Service

Last updated: 19 June 2026

Terms Fair Practice Code Grievance Redressal

Terms & Conditions

These Terms govern your use of Plan B Credit's website and services. By accessing or using planb.credit, you agree to be bound by these Terms.

1. About Plan B Credit

Plan B Credit is a Lending Service Provider (LSP) operating in India. Plan B Credit is not a lender, bank, or NBFC. We connect borrowers with an RBI-registered NBFC partner who provides the actual loan. All lending decisions, sanctions, and disbursals are made by the NBFC partner at its sole discretion.

2. Eligibility to apply

To use our services, you must:

Be an Indian citizen aged 18 years or above
Have a valid PAN and Aadhaar
Provide accurate, true, and current information in your application
Have the legal capacity to enter into binding contracts

3. Our services

Plan B Credit provides:

An online application platform for personal loans
Initial credit eligibility checks and underwriting
Forwarding approved applications to our NBFC partner
Status tracking via reference ID

Final approval, terms, interest rates, processing fees, and disbursal are governed by the NBFC partner's policies and the loan agreement you sign with them.

4. No guarantee of approval

Submitting an application through Plan B Credit does not guarantee loan approval or any specific terms. Approval is subject to credit checks, KYC verification, income verification, and the NBFC partner's underwriting policies. Plan B Credit does not influence or override lending decisions made by our NBFC partner.

5. Fees and charges

Plan B Credit does not charge borrowers for application processing. Our revenue comes from our NBFC partner.

The NBFC partner may charge processing fees, foreclosure charges, late payment penalties, GST on fees, and other charges. These are disclosed in the Key Fact Statement (KFS) before any loan sanction. Indicative APR ranges from 10.99% to 24% per annum, depending on credit profile, loan type, tenure, and amount.

6. Authorisation and consent

By applying through Plan B Credit, you authorise us to:

Share your information with our RBI-registered NBFC partner for loan evaluation
Conduct credit bureau checks through CIBIL, Experian, Equifax, or CRIF
Contact you via SMS, email, WhatsApp, or phone regarding your application
Use your information as set out in our Privacy Policy

7. Your responsibilities

Provide truthful and accurate information in your application
Keep your reference ID secure
Notify us of any changes to your contact details
Read and understand the Key Fact Statement before signing the loan agreement
Borrow only what you can repay; honour your EMI obligations

8. Intellectual Property

All content, design, code, logos, and trademarks on this website are owned by Plan B Credit or our licensors. You may not copy, reproduce, modify, scrape, or distribute content for commercial purposes without our written permission.

9. Limitation of liability

Plan B Credit is not liable for any decisions made by the NBFC partner, including loan rejection or specific terms offered. We are not liable for indirect, incidental, or consequential damages arising from the use of our services. Our maximum aggregate liability to any user is limited to ₹5,000.

10. Termination

We reserve the right to suspend or terminate your access for violation of these Terms, fraudulent activity, or any reason at our sole discretion.

11. Governing law

These Terms are governed by the laws of India. Disputes will be subject to the exclusive jurisdiction of Indian courts.

12. Modifications

We may update these Terms periodically. Continued use of our services after changes constitutes acceptance.

Fair Practice Code

Plan B Credit follows fair practices in dealing with all customers, in line with RBI's Fair Practice Code for Digital Lending Platforms.

Transparency

All loan terms, interest rates, fees, and charges are disclosed upfront in the Key Fact Statement (KFS) before sanction.
We clearly identify ourselves as a Lending Service Provider (LSP), not a lender.
The name of the NBFC partner funding your loan is disclosed in the sanction letter and KFS.

Non-discrimination

We do not discriminate based on religion, caste, gender, sexual orientation, age (subject to eligibility), or disability.

Privacy & data protection

Your data is collected only with explicit consent
Data is shared only with verified partners for the stated purpose
You can withdraw consent at any time (may affect ongoing services)

Responsible lending

We never use coercive recovery practices
We do not contact your family or friends for recovery, except as permitted by RBI
Recovery calls are made only during reasonable hours (8 AM – 7 PM)

Grievance Redressal Policy

We take customer grievances seriously and aim to resolve them promptly per RBI's 3-level escalation framework.

Level 1: Customer Support

Email: support@planb.credit

Expected response time: 24–48 business hours

Level 2: Grievance Officer

If unresolved at Level 1, escalate to our Grievance Officer:

Email: grievance@planb.credit
Response time: Within 7 working days

Level 3: RBI Ombudsman

If still unresolved within 30 days, you may approach:

RBI Ombudsman under the Reserve Bank · Integrated Ombudsman Scheme 2021
File complaints at: cms.rbi.org.in

Important Disclosure: Plan B Credit is a Lending Service Provider (LSP) and not an NBFC, bank, or RBI-registered lender. Loans are sanctioned and disbursed by our RBI-registered NBFC partner under their own credit appraisal, documentation, and verification policies. Indicative APR ranges from 10.99% to 24% per annum. Plan B Credit does not guarantee loan approval. Borrow responsibly.