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Dhani Points

Terms & Conditions

Terms And Conditions Applicable To Dhani Points

Effective Date: Effective from 25 March, 2020

These terms and conditions are applicable to points offered as promotional benefits to customers, who have availed loan products from Indiabulls Consumer Finance Limited (ICFL)(“Dhani Points”), through its mobile application and website, operated under the brand name of “Dhani” (“Dhani Platform“). Dhani Points is a payment product functionality operated and facilitated by a registered prepaid payment instruments operator, TranServ Private Limited (TranServ), through its mobile application and website, under the brand name of ‘Dhani Pay’ (“Dhani Pay Platform“). It is hereby clarified that ICFL reserves the right in its sole and absolute discretion to award, redeem or cancel Dhani Points, and TranServ will only be performing the role of operating and facilitating the Dhani Points through Dhani Pay Platform. The term “you” or “your” or “yourself” used under this terms and conditions (“Terms”) shall mean any person accessing the Platform.

Dhani Platform and Dhani Pay Platform are collectively referred as the Platform.

By using the Platform and by agreeing to avail personal loan or any products offered by ICFL, you signify your acceptance of these Terms. If you do not agree to the Terms, please do not use the Platform. Your continued use of the Platform following the posting of changes to the Terms will be deemed your acceptance of those changes. You warrant that (i) you are at least 18 years of age;(ii) you possess the legal authority to create a binding legal obligation; (iii) you will use this Platform in accordance with the Terms; (iv) you will only use this Platform to make legitimate reservations for you or for another person for whom you are legally authorized to act; (v) you will inform such other persons about the terms and conditions that apply to the reservations you have made on their behalf, including all rules and restrictions applicable thereto; (vi) all information supplied by you on this Platform is true, accurate, current and complete. ICFL or TranServ retains the right at our sole and absolute discretion to deny access to anyone to this Platform and the services offered, at any time and for any reason, including, but not limited to, for violation of the Terms.

ICFL reserve the right, at any time, to modify, alter, or update these Terms. ICFL or TranServ
will notify you of such changes by email at the address you registered with or by prominent notice on the Platform. Dhani Points shall mean loyalty points awarded to Eligible Users and which can be redeemed against Dhani Pay Cash as per the Terms mentioned here or any such facilities offered by ICFL from time to time.

Eligible Users shall mean and include:

  • i. An active user of ICFL’s personal loan products and may include users who have received sanction for ICFL’s personal loan products or any such criteria as decided by ICFL from time to time.
  • ii. Such user does not have any EMI outstanding for more than 30 (thirty) days; and
  • iii. Such user has an outstanding loan balance on the date of conducting any of the Eligible Activities on the Platform for awarding Dhani Points.
  • iv. User of the Dhani Mobile App version released on the Google Play Store or Apple App Store on or after the Effective Date.

List of Eligible Activities and corresponding Dhani Points are communicated to the Eligible
Users from time to time on the Platform.

List of Eligible Activities on the Platform (with effect from 25 March, 2020)
Subscribe to first personal loan from ICFL 10 Dhani Points
Subscribe to subsequent personal loans from ICFL Get 50 Dhani Points on every additional loan
Referring a friend to take a personal loan from ICFL 5000 and more Dhani points on every loan taken by the referral
Participate in Spin The Wheel activity on the Platform 0 – 50 Dhani Points. Only 1 (one) attempt is permitted per day
Mobile Recharge, Utility Bill Payments, Purchase Gift Vouchers 10 Dhani Points on each payment transaction amount. Applicable only for first 3 successful transactions in every calendar month
Purchase Bus, Airline Tickets and Hotel Stay 10 Dhani Points for every successful transaction. Applicable for 3 transaction per month

Eligible User agrees and acknowledges that ICFL may modify / add / delete to the list of Eligible Activities and Dhani Points awarded at its sole and absolute discretion at any time without giving any prior intimation / notice to its users.

Awarding of Dhani Points is subject to the Eligible User completing the respective Eligible Activity successfully. In case of payment failure, reversals or cancellations – corresponding Dhani Points credited to the user will be cancelled.

Also, it is hereby clarified that the Dhani Points post conversion cannot be utilised for the purchase
of Gold/Silver coins/bar on the Platform, if such a facility is available on the Platform.

When an Eligible User’s loan account is closed on account of foreclosure or completion of loan term
or for repayment default or any other purpose, such a user will no longer be eligible for awarding of
Dhani Points from the date of closure.

ICFL reserves the right to pull back Dhani Points from a user’s account (pre or post redemption) in case of suspicious or fraudulent activities as detected by ICFL and at its sole discretion from time to time without any notice/intimation.

Awarding of Dhani Points is subject to Terms mentioned herein and is not guaranteed in any manner whatsoever.

Dhani Points are non-transferable and cannot be redeemed for cash or any other items apart from
the provisions of these governing Terms.

Dhani Points awarded to the Eligible User will be credited into Eligible User’s Dhani Pay Wallet balance.

Redemption of Dhani Pay Points (as on Effective Date)

Dhani Points credited to Eligible User’s Dhani Pay Wallet will be converted into Dhani Pay Cash at the end of every Loan Billing Cycle. “Loan Billing Cycle” is the period between 2 (two) subsequent EMI payment due dates. In case of the first EMI due, the Loan Billing Cycle will start from the loan disbursement date till first EMI payment due date.

  • In case the Eligible User has made the EMI payment such that the money credited in ICFL account on or before EMI payment due date, Dhani Points earned in the previous Loan Billing Cycle will be converted into Dhani Pay Cash at 1:1 ratio and credited in the Eligible User’s Dhani Pay Wallet.
  • In case the Eligible User fails to make the EMI payment on due date, Dhani Points earned in the previous Loan Billing Cycle will lapse and Eligible User will not be allowed to stake any claim whatsoever on it.
  • With effective from EMI due date of 2nd February 2020 onward, the above mentioned ratio of points to cash conversion at 1:1 ratio will apply
  • In case the Eligible User fails to avail of disbursement of ICFL’s personal loan products within 7 days of receiving the loan sanction, Points earned on or after date of loan sanction, if any, will lapse.

Illustrative Example

User subscribes to personal loan from ICFL on 25 March 2020 on the Platform 10 Dhani Points awarded
User refers a friend to ICFL’s loan products and loan is disbursed to such a friend on 25 March 2020 on the Platform 1000 Dhani Points awarded
User logs into Platform on 27 March 2020 and Spins the Wheel for first time Wins 50 Dhani Points
User Makes mobile recharge from Platform on 28 March 2020 10 Dhani Points Awarded
User purchases Bus ticket from Platform on 30 March 2020 10 Dhani Points Awarded
First EMI payment Due 5 April 2020 Total Dhani Points Awarded till 5 April 2020 Total 1080 Points
Scenario 1 : User makes EMI payment on 5th April Dhani Pay Cash Rs. 1080 credited to Dhani Pay Wallet
Scenario 2 : User does not make EMI payment on due date 1080 Dhani Points lapsed.

Dhani Points and Dhani Pay Cash will be governed by terms and conditions of Dhani Pay Prepaid Account issued by TranServ Private Limited, which is an associate of ICFL. Eligible Users need to complete registration for Dhani Pay Prepaid Account and complete due KYC requirements to be able to avail of the benefit of Dhani Points.

Usage of Dhani Pay Cash, credited as a result of redemption of Dhani Points, will be governed by the terms and conditions of usage of Dhani Pay Prepaid Account and ICFL will not be responsible for any aspects related to operation of it.

ICFL may use your personal, transactional and other Platform level information for the purpose of promotional activities without any additional consent from or compensation to you. You consent to receive transactional, commercial and marketing communications both related to ICFL specifically, and to our other products and services generally, from us electronically, except in those jurisdictions where your express consent is required to receive commercial or marketing communications
electronically. Commercial and marketing communications may include notifications about relevant special offers or opportunities given by ICFL. In such event, ICFL will send you commercial or marketing communications electronically only if you have provided your express consent by proactively opting-in to receive such communications from ICFL regarding its products and services. This offer will be void in any State where conducting such offer is prohibited under applicable laws. Eligible User’s participation in conducting any Eligible Activities constitutes its understanding and agreement to the complete Terms associated with each offer provided herein.

ICFL reserves the right to impose additional amount limits within the overall applicable limit.

ICFL shall have no liability for delays or failure in performance caused by any event beyond ICFL’s control.

ICFL reserves the right to award offers and related benefits as per internal policy decided by ICFL in its sole and absolute discretion, from time to time.

Prohibited Activities:

The content and information on this Platform, as well as the infrastructure used to provide such content and information, is proprietary to Us. You are licensed to use our Platform solely for the purpose set out above. You are not permitted to copy our Platform, in any manner or form. While you may make limited copies of transaction related documents for products or services purchased or exchanged through this Platform, you agree not to otherwise modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, or sell or re-sell
any information, software, products, or services obtained from or through this Platform. Additionally, you agree not to:

  • make any speculative, false, or fraudulent claims about your membership to any rewards program or make any speculative, false, or fraudulent reservation or any reservation in anticipation of demand;
  • access, monitor or copy any content or information of this Platform using any robot, spider,
    scraper or other automated means or any manual process for any purpose without our express written permission;
  • violate the restrictions in any robot exclusion headers on this Platform or bypass or circumvent other measures employed to prevent or limit access to this Platform;
  • take any action that imposes, or may impose, in our discretion, an unreasonable or disproportionately large load on our infrastructure;
  • deep-link to any portion of this Platform for any purpose without our express written permission; or
  • “frame”, “mirror” or otherwise incorporate any part of this Platform into any other website without our prior written authorization.