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Terms of Service

Welcome to Saro Loan. These Terms of Service ("Terms") govern your access to and use of the Saro Loan mobile application and our associated financial services. By installing, registering for, or using the app, you agree to be legally bound by these Terms. If you do not agree, please do not use our services.

1. DEFINITION OF LINE OF CREDIT (LOC)

Saro Loan provides a Line of Credit facility. Unlike a traditional fixed-term loan, a Line of Credit offers:

• Credit Limit: A pre-approved maximum amount available for your use.
• Flexible Withdrawal: You may withdraw any portion of your available limit at your discretion.
• Revolving Credit: As you repay the principal amount of your outstanding balance, your available credit limit will be restored, allowing for subsequent borrowing.
• Interest Charges: Interest and applicable fees are calculated only based on the amount you have actually withdrawn and the duration it remains outstanding.

2. ELIGIBILITY AND ACCOUNT SECURITY

To access Saro Loan, you must:

• Be a legal adult (21 years or older) with full legal capacity.
• Provide accurate, current, and complete information during the registration process.
• Maintain the confidentiality of your account credentials. You are solely responsible for all activities occurring under your account.

3. DATA ACCESS AND USAGE PERMISSIONS

To provide credit assessment and fraud prevention services, Saro Loan requires access to specific data on your device. By using the app, you grant us permission to access:

• SMS Data: Limited to financial and transactional messages to analyze income patterns and detect fraud.
• Location Data: To verify service availability in your region and offer localized products.
• Camera Access: Solely for identity verification (KYC) and uploading necessary documentation.
• Device Information: Technical data used to ensure app compatibility and account security.

Refer to our Privacy Policy for detailed information on how we protect, encrypt, and delete this data.

4. FEES, INTEREST, AND REPAYMENT

• Cost of Credit: All applicable interest rates, processing fees, and other charges will be clearly displayed within the app before you confirm a withdrawal.
• Repayment Obligation: You agree to repay all withdrawn amounts and accrued interest by the due dates specified in your repayment schedule.
• Late Payments: Failure to meet repayment deadlines may result in late fees, increased interest rates, and a negative impact on your internal credit standing within the platform.

5. PROHIBITED USES

You agree not to:

• Submit forged, altered, or stolen identification documents.
• Use the credit facility for any illegal, fraudulent, or speculative purposes.
• Impersonate any other person or entity during the application process.
• Attempt to disrupt the security or integrity of the Saro Loan application.

6. INTELLECTUAL PROPERTY

All content, logos, designs, and software within the Saro Loan app are the exclusive property of Saro Loan. You are granted a limited, non-exclusive, non-transferable license to use the app for personal, non-commercial financial purposes only.

7. TERMINATION OF SERVICE

• User Termination: You may stop using the service at any time by clearing all outstanding balances and deleting your account.
• Platform Termination: We reserve the right to suspend or terminate your access to the Line of Credit if we detect a breach of these Terms, suspicious activity, or a significant change in your credit risk profile.

8. LIMITATION OF LIABILITY

Saro Loan provides services on an "as-is" basis. We shall not be held liable for any indirect, incidental, or consequential damages arising from:

• Technical interruptions or system maintenance.
• Unauthorized access to your account due to user negligence.
• Actions taken by third-party payment processors or banking institutions.

9. AMENDMENTS TO TERMS

We may update these Terms from time to time to reflect changes in our services or legal requirements. Continued use of the app after such changes constitutes your acceptance of the revised Terms.

10. CONTACT US

For any questions regarding these Terms or to report any issues, please contact our support team: