Terms & Conditions for Consumer Financing

Credit Facility Agreement

This Agreement (hereinafter referred to as the “Credit Facility Agreement”) is executed at , on this 24 Day of Oct 2021 by and between;

XERAPHIN FINVEST PRIVATE LIMITED, a company incorporated under the Companies Act, 2013 having its registered office at 90/31B, First Floor, Malviya Nagar, New Delhi 100017, New Delhi, India (hereinafter referred to as the "Lender" (which expression shall unless be repugnant to the context or meaning include its successors and assigns etc.,) of the FIRST PART;


Mr./Ms. (PAN ) an Indian inhabitant(individual), residing at/having its principal office/its registered office at represented by hereinafter called the "Borrower(s)" of the SECOND PART;

Xeraphin Finvest Private Limited is managed by Droom Technology Limited and Xeraphin Finvest Private Limited, has no objection and has provided its consent to Droom using its logo, trademarks and brand name in the documents containing the name of Xeraphin Finvest Private Limited, including but not limited to present agreement.

Xeraphin Finvest Private Limited, understands and agrees that Droom Technology Limited will also be entitled to use its logo prominently as per its choice on the website www.droomcredit.com or any other website, as Droom may decide which will lead the borrower to the Loan Agreement with Xeraphin Finvest Private Limited.

The Lender and the Borrower shall hereinafter be referred to individually as “Party” or collectively as “Parties”.


The following definitions apply throughout this Agreement unless otherwise stated;

  1. The term "Agreement" means this Agreement executed between the Lender and the Borrower and includes any schedules and/or amendment made therein duly signed by the Parties.
  2. The term "Account" means the account established by the Borrower with the Lender.
  3. The term "Borrower" means the person named as such in the Schedule A attached hereto.
  4. The term “Collateral” means the Property on which the Loan is provided by the Lender to the Borrower.
  5. The term "Effective Date” means the date of execution of this Credit Facility Agreement.
  6. The Term “Event of Default” means in case the borrower defaults in payment to the Lender at any given point of time during the tenure of this Agreement.
  7. The term "Facility" means the credit facility in the nature of loan sanctioned to the Borrower by the Lender.
  8. The term "Interest" shall mean the rate of interest chargeable on the Loan amount at the rate specifically mentioned in Annexure A.
  9. The term “Lender” means means Xeraphin Finvest Private Limited providing Loan Facility to the Borrower.
  10. The term "Loan" means the amount disbursed by the Lender to the Borrower and includes principal amount, interest, additional interest and any other amount due and payable by the Borrower to the Lender as per the terms and conditions of this Credit Facility Agreement.
  11. The term "Person" shall include individual to whom the Facility is being provided
  12. The term “Pre-Payment” means the repayment of the entire loan even before the maturity or otherwise than decided, in accordance with the terms and conditions contained herein for such Pre payment together with such charges as may be prescribed by the Lender from time to time.
  13. The term "Repayment" means the repayment of the principal amount of Loan, interest thereon and/or any charges, premiums, expenses, Fees & Charges or other dues payable in terms of this Agreement.
  14. The term Dealer/Seller shall mean the dealer or seller to whom the said amount shall be paid by the Lender on Borrowers behalf.

In this Agreement, singular shall include plural and the masculine gender, the feminine or neuter gender.

Any expressions not defined herein, if defined with the General Clauses Act, 1897, shall carry the same meaning as assigned to it under the said Act.


  1. The Lender hereby agrees to make available to the Borrower and the Borrower hereby agrees to avail from the Lender, the Facility amount mentioned in Annexure A in the manner and on the terms and conditions as stipulated in these present Agreement for the purpose as mentioned herein above.
  2. Once the applicable loan forms are submitted by the Borrower and is accepted by the Lender, the Borrower shall not be entitled to cancel the Facility or refuse to accept disbursement of the Facility, except with the approval of Droom Credit and payment to the Lender of such cancellation or foreclosure charges as may be stipulated by the Lender.


  1. The rate of interest applicable to the Loan as at the date of execution of this Agreement shall be the rate mentioned under Schedule -A of this Agreement.
  2. In the event the Lender reduces or increases the interest rate prior to the disbursement of the full Loan the applicable rate of interest shall be varied on weighted average basis with reference to the tranches disbursed / to be disbursed.
  3. The Lender shall be entitled to revise the rate of interest at any time and from time to time as per its policy, market conditions and/or applicable laws and regulations, if any, during the tenure of the Loan at its sole discretion. The Lender will endeavor to inform the Borrower about the variation in the interest in due course.
  4. The Borrower shall reimburse or pay to the Lender such amount as may have been paid or payable by the Lender to the Central or State Government on account of any tax levied on interest (and/or other charges) on the Loan by the Central or State Government. The Borrower shall make the reimbursement or payment as and when called upon to do so by the Lender.


All legal and out-of-pocket expenses incurred by the Lender in granting of this Facility amount and any subsequent expenses incurred by the Lender thereto will be at the account of the Borrower.


The Loan is available to the Borrower for a period of years (the “Term”).


The Borrower undertakes to pay forthwith on demand to the Lender, all costs and expenses (including legal costs between legal counsel and clients) on a full indemnity basis incurred and or to be incurred by the Lender for the preparation, execution, preservation, performance, enforcement and realization of the outstanding Loan amount, security cheques, documents for the Loan as also any other instruments required in connection with the Facility.


It is agreed that the Facility amount provided to the Borrower shall be towards the payment of token amount due to Xeraphin Finvest Private Limited, the Lender shall pay the Facility amount to Droom Technology Limited on Borrowers behalf after deducting the charges (if applicable) as per the applicable terms and Droom Technology Limited shall settle the Facility amount with the Dealer/Seller on behalf of the Lender.

The Facility amount can also be paid by the Lender directly to the Dealer/Seller wherein the Borrower agrees to the same.


  1. No notice, reminder or intimation shall be given to the Borrower regarding his obligation and responsibility to ensure prompt and regular payment of interest to the Lender on the respective due dates.
  2. If the Borrower defaults in making payment of any Installments or any other amounts comprising the Borrower's Dues to Lender on the respective the Due Date(s), the Borrower shall be liable to pay further Interest at the rate as mentioned in Schedule A to this Agreement on all such Outstanding /unpaid amounts from the relevant due date till the date of payment of such entire amount. Such further Interest shall be in addition to any other charges, which the Borrower is liable to pay to the Lender in terms of these presents.


  1. The Lender may, in its sole discretion and on such terms as to pre-payment fees, etc. as mentioned in Schedule A, which may be modified from time to time, permit acceleration of EMIs or pre-payment at the request of the Borrower. If permitted by the Lender, the Borrower shall give prior written notice of his intention to prepay the full amount or partial pre-payment of Loan and pay to the Lender such prepayment charges mentioned in the Schedule A attached hereto, subject to change by the Lender from time to time.
  2. Save and except as mentioned hereinabove, the Borrower shall not be entitled to make any Pre-payment, If notwithstanding the above the Borrower pays any amount to the Lender before the due date, the Lender shall be entitled to appropriate the same in such manner as it deems fit. And the Lender will give the Borrower credit for the same only on due date following in the month next succeeding the Pre-Payment or when respective payment falls due and not before.
  3. In the event the Lender permits any Pre-payment, the Repayment schedule shall be altered by the Lender at the request of the Borrower and the Borrower agrees to adhere to the altered Repayment schedule. Such Repayment schedule shall be part of this Agreement.
  4. In the event wherein the Facility amount is paid directly to Droom Technology Limited by the Lender on behalf of the Borrower, Droom Technology Limited has the right as agreed with the Borrower to deduct the said Facility amount along with interest and charges (if applicable) directly from the Dealer/Seller payout for the settlement process.
  5. In the event wherein the Facility amount is paid directly to the Borrower by the Lender, the Borrower shall settle the Facility amount directly with the Lender along with interest and charges (if applicable).


The Borrower acknowledges that processing fee as mentioned in the Schedule A has been paid by the Borrower and the same is non-refundable under any circumstances whatsoever including but not limited to decline / part disbursement / disbursement of Loan.


The rights and obligations of either party under this Agreement are not assignable to a third person, without the prior written consent of the other party.


The Borrower shall at all times (i) keep all licences, permits, and franchises necessary for the operation of its business in order and (ii) keep all of its assets which are useful in and necessary to its business in good working order and condition (ordinary wear and tear excepted) and make all necessary repairs thereto and replacements thereof.


  1. ENTIRE AGREEMENT: This Agreement contains the entire agreement and understanding between the Parties with respect to the subject matter hereof and supersedes and replaces all prior agreements or understandings, whether written or oral, with respect to the same subject matter that are still in force between the Parties.
  2. AMENDMENTS: Any amendments to this Agreement, as well as any additions or deletions, shall be agreed in writing by both the Parties.
  3. APPLICABLE LAW: Whenever possible, the provisions of this Agreement shall be interpreted in such a manner as to be valid and enforceable under the applicable law. However, if one or more provisions of this Agreement are found to be invalid, illegal or unenforceable, in whole or in part, the remainder of that provision and of this Agreement shall remain in full force and effect as if such invalid, illegal or unenforceable provision had never been contained herein. Moreover, in such an event, the Parties shall amend the invalid, illegal or unenforceable provision(s) or any part thereof and/or agree on a new provision, in such a way as to reflect insofar as possible the purpose of the invalid, illegal or unenforceable provision(s). Neither party shall be liable for failure to perform under this Agreement (except for the payment of any amounts due herein) if such failure is due to causes beyond its reasonable control, such as, but not limited to, fire, flood, strikes, labour disputes or other industrial disturbances, (declared or undeclared) war, embargoes, blockades, legal restrictions, riots, insurrections, governmental regulations or the unavailability of means of transport.
  4. FORCE MAJUERE: Any failure or delay by a party in exercising any right under this Agreement, any single or partial exercise of any right under this Agreement or any partial reaction or absence of reaction by a party in the event of a violation by the other party of one or more provisions of this Agreement, shall not operate or be interpreted as a waiver (either express or implied, in whole or in part) of that party’s rights under this Agreement or under the said provision(s), nor shall it preclude any further exercise of any such rights. Any waiver of a right must be express and in writing. If there has been an express written waiver of a right following a specific failure by a party, this waiver cannot be invoked by the other party in favour of a new failure, similar to the prior one, or in favour of any other kind of failure.
  5. NOTICES: All notices and other forms of communication required under this Agreement must be in writing and delivered or sent to the receiving party (i) by hand through a reputable courier service, (ii) by fax with a confirmation report, or (iii) by registered mail (return receipt requested) to the address indicated below:

    To the Lender: Xeraphin Finvest Private Limited, Plot No.77-A, Ground Floor, Iffco Road, Sector 18, Gurugram, Haryana-122015

    To the Borrower:

    Any notice shall be considered to have been delivered to the receiving party’s address on the date of delivery if delivered in person, upon confirmation if sent by fax and 3 working days following the date of mailing if sent by registered mail.

    giving the other party written notice to this effect in the manner set forth herein.
  6. COST: Each party shall bear its own costs (including lawyers’ fees, costs and expenses) for the preparation and negotiation of this Agreement.
  7. EXECUTION OF THE AGREEMENT: This Agreement is executed in separate copies, each of which is deemed an original and all of which taken together constitute one and the same agreement. Translations into any language other than English may be made but are for the sake of convenience only, even when executed by one or both Parties.

IN WITNESS WHEREOF, the Parties have signed this Agreement in one or more counterparts as of the date first hereinabove set forth.






Name: Email ID:
Mobile Number: Loan Amount: (in rupees) 0.00
Loan Tenure (in months): Rate of Interest: %
EMI: (in rupees) 0.00 Number of EMIs:
EMI Start Date: 5th Penalty for delay in EMIs: 2% of Outstanding Loan
Pre-closure Charges: Nill