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Terms & Conditions

Terms and Conditions

for Refer & Earn Offer for True Credits Loans

Version 2.1_Effective from September 20, 2022

"Recommender(s)" for the purpose of this Offer shall mean a person who holds True Balance Wallet (as defined hereunder) with Balancehero India Private Limited (“BHI”) after completing Full KYC formalities and has referred a relative, friend etc. for availing Cash Loan, Level-Up Loan or other identified loan products (“True Credits Loan”) from True Credits Private Limited (“True Credits”) via True Balance Application.


“Recommendee(s)” for the purpose of this Offer shall mean the person who has been referred by Recommender for availing True Credits Loan.


“True Balance Wallet” shall have the meaning as ascribed in Wallet T&C of BHI.


“Offer” shall mean Refer and Earn Offer for True Credits Loan.


“Referral Cashback(s)” shall mean reward in the nature of wallet money or free points to be credited to the True Balance Account of Recommender upon successful referral.


“Offer Period" shall mean the period commencing from September 20, 2022 to September 19, 2023 (both days inclusive).  The Company reserves the right to extend or curtail the Offer Period at its sole discretion.

Other Terms and Conditions:


1. This Offer is applicable to True Credits Loan only. Recommender shall not be eligible for any Referral Cashback if any product/ service other than True Credits Loan was applied/ availed by Recommendee.


2. On every successful referral, Recommender shall get below Referral Cashback in relation to each Recommedee at the following stages:

a. Upon Disbursal: 2% of the loan amount

b. Upon payment of each EMI: 3% of principal component of each EMI paid by Recommendee. 


Recommender shall get Referral Cashback(s) only with respect to first loan of each Recommendee that he/she has recommended

Applicable Referral Cashbacks shall be informed to the Recommender on the True Balance Application at the time referral.


3. Recommender shall be eligible for Referral Cashback only if, Recommendee has got True Credits loan disbursed or has repaid each EMI within the deadline (as the case may be) through shared link with Recommender within limited period/amount, which shall be provided on or before expiry of Offer Period.


4. Recommendee understands that upon completion of KYC, a Full KYC wallet of True Balance shall be opened in the name of Recommendee.


5. Recommender confirms having obtained the consent of Recommendee before providing him referral of True Credits Loan.


6. Recommendee’s loan application status (Invited/ Joined/ KYC Completed/ Approved / Rejected / Disbursed/ Repaid/ Overdue etc.) may be shared with Recommender to effectively check his status of Referral Cashback.


7. Referral Cashback shall be allowed only if the Recommender’s Wallet has the adequate monetary limit available.


8. These Terms and Conditions shall be read with the applicable terms and conditions of True Balance Wallet or True Credits Loan or other ancillary services. Capitalized terms used herein but not defined shall have meaning ascribed them in other applicable terms and conditions.


9. In case Recommender or Recommendee does not comply with the applicable terms and conditions of True Balance Wallet or True Credits Loan or other ancillary services then, True Credit reserves the right to not only to deny providing further Referral Cashback but also reserves the right to withdraw Referral Cashback already provided to the Recommender.


10. True Credit shall endeavor to process applicable Referral Cashback within seven working days of loan disbursement and repayment, as the case may be.


11. In the rare case of non-availability of any prize mentioned under this Offer, a prize with a similar value may be offered.


12. Tax liability for the Referral Cashback would be with the recipient of Referral cashback.


13. True Credits/ BHI may, at its sole discretion, utilize the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to this Offer.


14. These terms and conditions shall be effective from the date mentioned at the top and shall supersede all previous terms and conditions for any Offer. True Credits/ BHI reserves the right to modify/change or discontinue all or any of the Terms and Conditions applicable to the Offer or other applicable product/ services, as the case may be, without assigning any reasons or without any prior intimation whatsoever.


15. Neither BHI/ True Credits nor any of its directors and employees, representatives, agents, and its Affiliates shall be held liable in event the declaration and undertaking given by Recommender(s)/ Recommendee(s) to BHI/ True Credits is found to be false and untrue.


16. Recommender(s)/ Recommendee(s) agrees, at its own expense, to indemnify, defend and hold harmless BHI/ True Credits, its directors and employees, representatives, agents, and its affiliates against any claim, suit, action or other proceedings brought against BHI/ True Credits, its directors and employees, representatives, agents, and affiliates by the person(s) referred in respect to the use of his information/details as shared by the Recommender(s)/Recommendee(s) with BHI/ True Credits in pursuance to this Offer.


17. All claim against BHI/ True Credits, if any, are subject to the exclusive jurisdiction of the competent courts/tribunals of Gurugram (Haryana).

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