Terms & Conditions
Please read these terms and conditions carefully before using SMARTORO's gold loan services.
1. Service Overview
SMARTORO provides instant gold loan services at your doorstep. Our services include gold evaluation, loan processing, and secure storage of pledged gold items.
2. Eligibility Criteria
- You must be at least 18 years of age
- You must be a resident of India
- You must own the gold items being pledged
- You must provide valid government-issued identification
- You must have a valid mobile number for communication
3. Gold Loan Terms
3.1 Interest Rates
Interest rates start from 0.85% per month. Rates may vary based on loan amount, gold purity, and market conditions.
3.2 Loan Amount
Loan amounts are typically 75-80% of the gold's market value, subject to evaluation and verification.
3.3 Repayment
Repayment can be made in monthly installments or as a lump sum. Early repayment is allowed without additional charges.
4. Gold Evaluation & Storage
4.1 Evaluation Process
Our certified appraisers will evaluate your gold at your doorstep. Evaluation is based on current market rates and gold purity.
4.2 Secure Storage
Pledged gold is stored in government-licensed and compliant, insured lockers with 24/7 security. Full insurance coverage is provided.
5. Privacy & Data Protection
We collect and process your personal information in accordance with our Privacy Policy and applicable data protection laws. Your information is used solely for loan processing and customer service purposes.
6. Default & Recovery
7.1 Default Conditions
Default occurs if you fail to make payments for 3 consecutive months or violate any terms of the agreement.
7.2 Recovery Process
In case of default, we reserve the right to auction the pledged gold to recover outstanding amounts. Any surplus will be returned to you.
7. Government Licensing & Compliance
SMARTORO operates in full compliance with government guidelines for gold loan NBFCs. All operations are regulated and monitored as per government directives.
8. Limitation of Liability
SMARTORO's liability is limited to the loan amount disbursed. We are not liable for any indirect, consequential, or incidental damages arising from the use of our services.
9. Changes to Terms
We reserve the right to modify these terms at any time. Changes will be notified through our website or direct communication. Continued use of services constitutes acceptance of modified terms.
10. Governing Law
These terms are governed by the laws of India. Any disputes will be subject to the exclusive jurisdiction of courts in Mumbai, Maharashtra.
11. Contact Information
For questions about these terms, please contact us at:
Email: legal@smartoro.com
Phone: +91 8857092388
Head Office Address: Shop No. 32, Ground Floor, Ghanwat Plaza, Chakan-Talegaon Road, Nanekarwadi, Chakan, Maharashtra - 410501.
Last updated: January 2025
Version: 1.0