These Terms and Conditions ("Terms") set out the rules and obligations that govern your access to and use of the Molly Loan mobile application and associated services (collectively referred to as the "Platform"). By installing, registering with, or using the Platform, you confirm that you have read, understood, and agreed to these Terms in full.
The Platform is developed and maintained by Topios Byte Technology Private Limited ("Service Provider"), which provides only technical and support functions. The actual financial services, including assessment, sanctioning, disbursal and recovery of loans, are provided exclusively by SHREE LEASING AND FINANCE LTD, a Non-Banking Financial Company (NBFC) duly registered with and regulated by the Reserve Bank of India ("Lender").
The purpose of this Platform is to enable individuals to submit loan requests digitally and manage their loan obligations in a convenient, secure manner. The Company itself does not extend credit or make lending decisions. All contracts for lending are made directly between you and the Lender.
You may use the Platform only if you:
Are an Indian citizen and at least 18 years of age;
Possess valid and verifiable KYC documents (including, but not limited to, Aadhaar and PAN);
Have the legal capacity to enter into binding contracts; and
Meet the internal credit and risk assessment criteria applied by the Lender.
For the purposes of these Terms:
User / You: Any individual accessing or using the Platform in any capacity.
Lender: SHREE LEASING AND FINANCE LTD, the NBFC that evaluates loan applications and issues funds.
Company / We: Topios Byte Technology Private Limited, which operates the technology platform but is not a financial institution.
Services: All functionalities offered on the Platform, including but not limited to digital loan applications, KYC, credit checks, account management, notifications, and repayment tracking.
Loan Agreement: A digitally executed agreement between the User and the Lender specifying the loan amount, interest, fees, and repayment obligations.
Privacy Policy: The document that explains how your data is collected, processed and shared, which forms part of these Terms.
The Molly Loan Platform provides a seamless, digital interface that enables Users to:
Submit applications for personal loans entirely online;
Complete KYC verification and undergo creditworthiness assessment as required by the Lender;
Review, compare, and accept loan offers generated exclusively by the Lender;
Track outstanding amounts, due dates, repayment schedules, and view past payment history;
Receive automated reminders and notifications about upcoming repayments and account activity.
Important:
All decisions relating to loan eligibility, loan amount, interest rates, fees, tenure, and repayment schedule are taken solely by SHREE LEASING AND FINANCE LTD ("Lender"). The Platform Provider (Topios Byte Technology Private Limited) acts only as a technology facilitator and has no role in approving, rejecting, or modifying any loan application.
5.Loan Offer and Agreement
Indicative Loan Parameters (for reference):
Loan Amount Range: ₹1,000 – ₹50,000
Tenure: 93 days (approximately 3 months)
Daily Interest Rate: 0.048% (simple interest basis)
Processing/Service Fee: 2% of the sanctioned loan amount (inclusive of 18% GST)
Late Payment Fee (if no extension): 0.1% per day on the overdue amount
Extension Option: You may request a one-time extension of up to 30 days by paying an extension fee of 2% of the outstanding principal. During the approved extension period, normal daily interest continues to accrue, but no additional late payment charges will be levied.
Important: These parameters are indicative. The exact sanctioned loan amount, interest rate, tenure, fees, repayment schedule, and any other applicable charges will be shown to you on the Platform prior to disbursal. You must review the Loan Agreement carefully before accepting.
Illustrative Example (₹20,000 Loan)
If you repay on time (within 93 days):
Processing/Service Fee:
2% × ₹20,000 = ₹400 (deducted upfront)
Amount Disbursed to You:
₹20,000 – ₹400 = ₹19,600
Interest Payable:
₹20,000 × 0.048% × 93 days = ₹892.8 (≈ ₹893)
Total Repayment Amount on Due Date:
Principal ₹20,000 + Interest ₹893 = ₹20,893
If you miss the due date and do not request an extension:
A late payment fee of 0.1% per day is applied on the overdue amount, starting from the day after the due date until repayment.
Example:
10 days overdue → 0.1% × ₹20,000 × 10 = ₹200 late fee
Total due = ₹20,893 + ₹200 = ₹21,093
If you request and are granted a 30-day extension:
Extension Fee: 2% × ₹20,000 = ₹400 (one-time fee)
Additional Interest for 30 extra days:
₹20,000 × 0.048% × 30 = ₹288
Total Repayment After Extension:
Original repayment ₹20,893 + Extension Fee ₹400 + Additional Interest ₹288
= ₹21,581
Note: No late payment fee is charged during the approved extension period.
Maximum Annualized Interest Rate (Max APR)
Normal daily interest: 0.048% × 365 = 17.52% per annum
After including the one-time processing fee (2%), the maximum APR is approximately 25.3% for a 93-day loan.
Late payment charges and extension fees are separate and only apply in the specific circumstances described above and are not included in the APR calculation.
By using the Platform, you agree to:
Provide true, complete, and up-to-date information at every stage of your interaction with the Platform;
Use the Platform and any loan funds only for lawful and permitted purposes;
Ensure timely repayment of all amounts due to the Lender as per the agreed schedule;
Notify us promptly if there is any change in your contact information, employment details, or linked bank account;
Keep your login credentials, OTPs, and verification codes strictly confidential and not share them with anyone;
Not submit false or misleading documents, nor engage in any fraudulent, abusive, unauthorized, or illegal activity on the Platform.
Submission: You submit an application with personal, financial, and employment information.
Verification: The Lender performs KYC, credit bureau checks, and internal assessments.
Offer: If eligible, you receive a loan offer digitally through the Platform.
Acceptance: Upon your acceptance of the offer and Loan Agreement, the loan amount is credited by the Lender to your bank account.
Discretion: Approval or rejection of applications is at the sole discretion of the Lender based on its credit evaluation and internal policies. The Company has no influence over these decisions.
All costs associated with your loan—including interest, processing fees, late charges, and any other applicable amounts—will be clearly displayed in the Loan Agreement prior to your acceptance.
There are no hidden charges. Additional costs may apply in the event of late repayment, as described in the Loan Agreement. All such amounts will be communicated to you before you accept any offer.
To provide the Services, the Platform collects and processes personal and financial data from you. This may include, but is not limited to, KYC documents, credit bureau reports, contact details, device information, and bank account data.
Your data will be used strictly in line with our Privacy Policy for purposes such as KYC verification, credit evaluation, loan servicing, and compliance with applicable regulations. Limited data may be shared with authorized third-party service providers and credit bureaus where necessary.
We employ reasonable safeguards to protect your data; however, you acknowledge that no platform can guarantee absolute security.
The Company reserves the right to restrict or terminate your access to the Platform if:
You breach these Terms,
You engage in fraudulent or illegal activity, or
You fail to meet repayment obligations.
Suspension or termination of your account does not affect your obligation to settle outstanding dues with the Lender.
These Terms and your use of the Platform shall be governed by and construed in accordance with the laws of India.
Any dispute, controversy or claim arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts located in Delhi, India.
We may revise these Terms from time to time. Updates will be made available on the Platform. Continued use of the Platform after such updates constitutes your acceptance of the revised Terms.
By accessing and using Molly Loan, you confirm that you have read and agreed to these Terms & Conditions.
Website: https://www.topiosbyte.com
Email: info@topiosbyte.com
Address: 294/1, Ground Floor, 60 Feet Road, Chhaterpur, South Delhi, Delhi, India, 110074