Flipkart Advanz Services - Terms and Conditions (“Agreement”)

This document/agreement/understanding is a computer-generated electronic record published in terms of Rule 3 of the Information Technology (Intermediaries Guidelines and Digital Media Ethics Code) Rules, 2021 read with Information Technology Act, 2000 and does not require any physical or digital signatures.

Introduction

● You understand that by purchasing products/services on the Platform by utilising the Flipkart Advanz Services and availing Flipkart EMI, the relevant Financing Partner will be paying the seller/provider of the product/service on your behalf and extending a deferred payment option to you in the form of a loan option. You will be liable to pay the Financing Partner the amounts due, availed by the loan option, as per the payment schedule and the terms mentioned in your monthly statement, in accordance with these terms, loan application terms and the Financing Partner’s terms and conditions. Such repayment of Flipkart EMImay be made through the Platforms, or such other payment methods as may be prescribed by Financing Partner to FAPL (“Repayment Mode”). You authorise FAPL to act as your agent for facilitating the collection l of the sanctioned amounts under Flipkart EMI.

● Flipkart Advanz Services is a proposition enabled by Flipkart Advanz Private Limited (" FAPL ") on specified e-commerce or other platforms, and their related mobile sites and mobile applications (" Platforms "), under which FAPL facilitates the granting of a loan by certain financing partner(s) (" Financing Partners ") to selected customers of the respective Platform (" You ") in accordance with the terms of financing schemes (powered by the Financing Partner) Flipkart EMI ) being made available by such Financing Partners to You (" Flipkart Advanz Services "). You will be offered the Flipkart EMI as part of the Flipkart Advanz Services , and such eligibility shall be determined by the Financing Partners in accordance with the information shared by FAPL...

● You undertake that you are 18 years of age or older. By registering and using the Flipkart Advanz Services, you hereby represent and warrant to FAPL and the Financing Partner that you are 18 years of age or older, and that you have the right, authority and capacity to avail the Flipkart EMI being offered through the Flipkart Advanz Services, and agree to abide by these terms and conditions.

● You understand that the access to and use of the Flipkart Advanz Services are conditional upon your acceptance of and continuous compliance with these terms and conditions set herein at all times, as well as the Terms of Use, FAPL Privacy Policy, and other relevant documentation including any modifications, alterations or updates thereof, that are published on the Platforms.

● You understand that by accepting or proceeding, you agree to abide by the respective Financing Partners’ terms and conditions, their privacy policy, specific product terms and these terms and conditions. You are thereby entering into a legally binding contract with the respective Financing Partner vis-a-vis their terms of use. You further understand that by choosing to avail the Flipkart Advanz Services, you will be eligible for the Flipkart EMI product provided by the respective Financing Partner and shall be liable to respective Financing Partner for any default in the dues payable to such Financing Partner.

● By choosing to avail Flipkart EMI offered by the Financing Partner through FAPL, you agree to the terms and conditions extended by the Financing Partner [IDFC] (Lender), their privacy policy and any other product terms provided by the Financing Partner. Please read these terms and conditions carefully before availing the Flipkart EMI. Flipkart does not monitor or have control or authority on any processing or offering made by Financing Partner. You understand and agree that the privity of contract is between You and the Financing Partner and Flipkart is only facilitating the granting of a loan to You by the Financing Partner.

● As per the requirements under RBI guidelines and based on the Financing Partner’s obligation under the applicable law, they may -initiate re-initiate the KYC as well as loan application process and You understand and acknowledge that in the event You fail to complete your KYC within 90 days from the date of initiating KYC process the Financing Partner reserves the right to reject or terminate your loan application without any liability on their part.

Terms and Conditions for the Flipkart EMI

● This is a EMI based loan product offered by the Financing Partner based on the terms and conditions agreed by You for financing your purchase of products/services on the Platforms, under which You can make payments in equated monthly installments ("EMI") along with interest and other prescribed charges/dues, in the manner and within the time frame prescribed by the Financing Partner as set out in the agreement between You and the Financing Partner.("Flipkart EMI").

● With the EMI Product, You can choose to shop for items on the Platform as per your pre-qualified loan amount and repay in EMIs with fixed tenure of either 2 Months, 3 Months, 6 Months, 9 Months and 12 Months with applicable interest rates basis, as per the terms of the loan agreement between You and the Financing Partner. The effective interest rate and applicable tenures are determined based on your profile and may be subject to change at the sole discretion of the Financing Partner.

FAPL via the Platform, facilitates completion of the loan application form, collection of KYC documents and acceptance of the loan agreement provided by the Financing Partners(s) for availing the loan. The loan granted under Flipkart EMI, is transferred directly by Financing Partner to the account of Flipkart, on behalf of You for settlement towards the product purchased by You.

● All the active purchases done by you on the Platform through the Flipkart EMI will be consolidated in one bill issued on the 1st of the relevant month, which needs to be paid by You the 5th of the same billing month. Additionally, You will be required to clear any outstanding EMI in full before availing of a fresh loan with the Financing Partner.

Grievance redressal

● Grievance Redressal Officer for Flipkart Advanz Pvt Ltd

Name: Mr. Shremanth M

Address: Flipkart Internet Pvt Ltd Block B (Begonia), 8th Floor Embassy Tech Village, Outer Ring Road, Varthur Hobli, Bengaluru East Taluk, Bengaluru District, Karnataka 560103, India

Customer Care Number: 04445614700

Email Id: grievances@flipkartadvanz.com

● Grievance Redressal Officer for IDFC First Bank

PNO Name: Mr. Vipul Raj

Designation: PNO

PNO email id: PNO@idfcfirstbank.com

PNO contact number: 1800 209 9771

PNO Address: IDFC FIRST Bank Ltd. Building No.2, Raheja Mindspace, MIDC Industrial Area, Shiravane, Juinagar, Nerul, Navi Mumbai 400706, Maharashtra, India

Help Centre: https://www.idfcfirstbank.com/customer-service

Branch: https://www.idfcfirstbank.com/support/branches

General Terms and Conditions

● The Flipkart EMI facilitated under the Flipkart Advanz Services would be available only for purchase of select products/services from sellers on specified Platforms. Specifically, Flipkart EMI cannot be availed for purchase of Gift Cards, Gold & Jewelry, Grocery and select Quick purchases on the platforms.

● You understand and acknowledge that upon opting for availing Flipkart EMI offered through the Flipkart Advanz Services to place orders on the Platforms, You may receive a monthly statement on your registered email address (provided by You on the Platforms) on the 1st day of every English calendar month, detailing the dues payable by You towards Flipkart EMI . You further understand and undertake that You shall pay the outstanding amounts due to the Financing Partner as per the EMI relevant due date on your loan agreement. .

● You can settle your dues for the Flipkart EMIoffered by the Financing Partner using a Debit Card, Net banking and UPI, or any other permissible payment method as may be notified by FAPL to You. Utilization of Credit Card for settling dues or paying bills is not allowed. You understand and acknowledge that cash payment in part or full shall not be accepted as a payment method by FAPL/Platforms for repayment of the outstanding amounts due under Flipkart EMI..

● By opting to avail the Flipkart EMI offered by the Financing Partners through the Flipkart Advanz Services, You undertake to make the payment of the outstanding amounts due to the Financing Partner within the agreed timelines set out in the applicable terms and conditions of your loan agreement. . You understand and acknowledge that if You fail to pay either an amount equal to or more than the Minimum Amount Due ( Partial Payment) the total outstanding amounts due under the Flipkart EMI to the Financing Partner before the relevant due date, the Financing Partner (through FAPL) shall have the right to suspend or block any future purchases on the Platforms, and levy a late payment penalty on You until the relevant outstanding amounts are paid as per the Terms and conditions of the Financing Partner. will The penal amount levied on a monthly basis, will be as set out in the key fact statement of your loan agreement. The penalty will be calculated on the outstanding due as on the 5th of the month.

● Late payment fees are exclusive of applicable taxes, as set out in the key fact statement of your loan agreement. Any delay in payment may lead to cancellation/suspension/restriction of any further order(s) or activity or purchases or return requests on the Platform(s) or suspension of account indefinitely, till such time that the outstanding amounts are cleared by You. Further, You understand that failure to repay any outstanding amounts towards Flipkart EMI timely could lead to a negative impact on Your bureau score.

● Parties will fully comply with all applicable laws and regulations including but not limited to anti-money laundering (including know your customer and customer due-diligence) and sanctions (economic and trade) enforced by the United Nations, the Republic of India, U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC). Neither party will engage in a transaction pursuant to this agreement that will cause the other party to violate such laws and regulations.

● By using FAPL's products and services or by providing Your information, You agree and consent to the collection, usage, storage, transfer, sharing or otherwise processing information (including sensitive personal information) related to You in accordance with these terms and conditions and the Privacy Policy.

● You hereby agree and give consent to FAPL and/or the Financing Partner to collect and share your personal data and to contact you as required by the Financing Partner to determine your eligibility and enhance/modify your Pre Qualified Loan Offer, if applicable: (iv) location; (v) credit information; and (vi) device information in accordance with the applicable laws and RBI guidelines. If You provide your express consent, such information will be accessed by FAPL and/or the Financing Partner for checking your eligibility and at periodic intervals thereafter in accordance with FAPL's Privacy Policy and Financing Partner’s terms & conditions and their Privacy Policy. In the event that You do not provide FAPL/Financing Partner with such express consent to access such information, FAPL and/or the Financing Partner will not be able to access your data and consequently will not be able to check your eligibility or be able to enhance/modify your Pre Qualified Loan Offer. You further understand that FAPL and/or the Financing Partner will share details of your eligibility to avail Flipkart EMI with the respective Platforms, to enable You to transact on such Platforms. Your contact information may be shared with the Financing Partner and third party agencies who shall be responsible for the collection of dues payable under Flipkart EMI. FAPL and/or the Financing Partner may obtain information in relation to your transactions on Platforms through which You have availed Flipkart EMI (including but not limited to item details, amount, date, category of order) to check your eligibility and assess your Pre-qualified EMI offer amount. By consenting to these terms and conditions, You hereby agree to sharing such transactional information with FAPL and/or its Financing Partners.

● You acknowledge that the Financing Partners have the right to revise any Pre Qualified Loan Offer or revoke such loan amount extended to You at any time at their sole discretion. You may at any time connect with the Financing Partners for any queries on this regard.

● You understand that FAPL reserves the right to choose the Financing Partner who shall be able to extend Flipkart EMIto You.

● You understand and acknowledge that FAPL is not acting as a Payment Aggregator or as a Payment Gateway in facilitation of Flipkart EMIthrough the Financing Partner.

● You acknowledge that as part of its marketing and promotional activities, FAPL may as a part of its promotional offers, bear the interest, if any, charged on Flipkart EMI sourced by FAPL through the Financing Partner to You.

● You understand that a Processing Fee of 1.5% of the value of transaction or Rs 100 whichever is higher, shall be levied by the Financing Partner towards each Flipkart EMI transaction where EMI tenure is 2,3,6,or 9 months with effect from 15th June,2023.Details of Processing Fees will be contained in your monthly statement. The processing fee is exclusive of applicable taxes.

Processing Fee with effect from 15th Nov ‘24 -

Tenure	Proposed
2 Months	1.25%+GST (No min cap)
3 Months	1.25%+GST (No min cap)
6 Months	1.5%+GST (No min cap)
9 Months	2%+GST (No min cap)
12 Months	2%+GST (No min cap)

● You understand that for the Flipkart EMI facility, any request for Foreclosure of the loan after 3 days from the date of transaction(excluding transaction date) will attract foreclosure charges (as provided in the key fact statement of your loan agreement) as on the payment date for foreclosure of Flipkart EMI Transactions.

● You understand that for Flipkart EMI facility, you can foreclose the loan anytime during the loan tenure from your own funds & No cancellations on the loan (neither partial nor full) to be allowed once the loan has been foreclosed.

● You understand that FAPL on behalf of the Financing Partner may use your delivery address or any address or communication number provided by you through your KYC in order to communicate on the overdues on transactions made using Flipkart EMI● You understand and acknowledge that FAPL reserves the right to suspend your eligibility to avail the Flipkart Advanz Services at any point of time.

● ● You understand that the Flipkart EMI facility is enabled based on dynamic transaction rules determined in partnership with our Financing Partner.

● FAPL, the Financing Partners, the Platforms, their affiliates or agents or service providers shall not accept any liability pertaining to any claims You may have with respect to the products purchased using Flipkart EMI, with respect to their quality, merchantability, fitness, delivery or after sales service or for any other reason. You understand that any such claims do not waive Your obligation towards the Financing Partner to repay Your dues in connection with Flipkart EMI..

● You understand that in the event of any fraudulent or suspicious transactions undertaken by You relating to the Flipkart Advanz Services, FAPL reserves the right to suspend/cancel the purchase of any products/services, and take all actions it deems fit under law. Further, in the event that FAPL finds You to be delinquent, as You have not repaid the Financing Partner for your past transactions which may be undertaken on the Platforms, on which You have transacted using the Flipkart Advanz Services, for your personal information and transaction history. By accepting these terms and conditions, You hereby provide your express consent for allowing the Platforms to share such information with FAPL, who shall then to share such information with the applicable Financing Partner such information related to fraudulent or suspicious transactions.

● You understand, agree and acknowledge that FAPL or the Financing Partner or the Platform (acting for and on behalf of the Financing Partner) will have the right to send You reminders electronically or by post and/or call, SMS, instant messages to Your registered phone number prior to the due date of payment of the outstanding amounts under Flipkart EMI, and reach You on your registered phone number during reasonable hours if You fail to pay the outstanding amount by relevant due date. You further acknowledge and confirm that You are aware of the nature of telecommunications/internet services and that an email transmission may not be received properly. You further acknowledge that any delay in payment or non-payment of outstanding amounts due under Flipkart EMImay attract charges as provided in your loan agreement. In this event, you can receive legal notices, and such non-payment will be reported to eligible credit information companies and/or initiate legal proceedings against you as per the terms of your loan agreement. You agree to assume and bear all the risks involved in connection with Flipkart EMIavailed by You through the Flipkart Advanz Services, and undertake that that FAPL or the Financing Partner or the Platform(s) (as the case may be) shall not be responsible in any manner.

● You understand and acknowledge that the Financing Partner, by offering Flipkart EMIto You, is entrusting upon You the possession of the products ordered by You, till such time that the payment will be completed by You on or before the due date. You covenant and undertake that, so long as Flipkart EMIor any part thereof are outstanding, and until full and final payment of all moneys owing thereunder, You shall not, without the prior written consent of the Financing Partner and FAPL, alienate either by sale, mortgage or gift, the product ordered/purchased using the Flipkart EMI.

● You understand that the FAPL and/or the Financing Partner reserves the right to vary, alter or modify the terms of the Flipkart Advanz Services or Flipkart EMIoffered thereunder, at their sole discretion. Using the Flipkart Advanz Services to avail Flipkart EMIonce does not entitle automatic eligibility to avail similar products in the future, and the respective Financing Partner shall have the sole right to extend or restrict such eligibility.

● By choosing to avail Flipkart EMI offered by the Financing Partners, You agree that the respective Financing Partner may require certain Know Your Customer (KYC) documents and/or information from You, in accordance with applicable law, which You shall promptly provide upon being so requested by the respective Financing Partner. You understand that You can, at your sole option, complete this KYC process through permissible methods as may be decided by the Financing Partner. To enable the Financing Partner to comply with the KYC requirements prescribed under applicable laws, You hereby provide your consent to FAPL and/or the Financing Partner and/or their authorised representatives/agents/third party agents for obtaining and authenticating your KYC information such as with the relevant regulatory authorities (such as NSDL, UIDAI, CKYCR etc.), including for completing KYC verification process through an OTP-based KYC check or Aadhaar based offline verification.

●You also consent to Financing Partner to validate Your bank account details through a fund transfer of a small amount (usually Re. 1/penny drop) into Your bank account. You also acknowledge that the penny drop transaction output such as the bank account holder’s name and IFSC details shall be shared by FAPL with the Financing Partner. You further consent to collecting and sharing of Your PAN number and credit information with the Financing Partner, and its partner credit information companies as per applicable laws. You expressly authorize FAPL and the Financing Partner(s) to collect your demographic and identity information for the purposes of fulfilling KYC requirements and providing you the Flipkart Advanz Services. FAPL does not collect, use, store, or share your Aadhaar number. You also agree that FAPL and the Financing Partner can appoint third party service providers/agents for the recovery/collection from You.

● You expressly confirm to FAPL and the Financing Partner that You have not opened any other bank account or entered into any account based relationship with another Regulated Entity using OTP based KYC in non-face-to-face mode.

● You further acknowledge and understand that as per RBI KYC Directions, OTP-based KYC is considered to be a minimum KYC which is valid only for a period of 12 months from the date of availing Flipkart EMI, within which You have to complete the full KYC as mandated by RBI. Also, it is notified that your overall shopping usage on Platforms will be restricted to an aggregate of Rs. 60,000 in a year as the amount of loan sanctioned using the OTP-based KYC cannot exceed Rs 60,000 in a year without completing the full KYC.

● You understand that providing Your Aadhaar number to the Financing Partner and carrying out an OTP-based KYC check/Aadhaar based offline verification is not mandatory to avail Flipkart EMIoffered under the Flipkart Advanz Services. You have the option to apply for Flipkart EMIwithout sharing Your Aadhaar number by fulfilling KYC norms through a physical KYC check by submitting alternate KYC documents to the Financing Partner as per applicable law, and the Financing Partner's KYC policy. To do the same, You must reach out to the Financing Partner at [1860 500 9900] and the Financing Partner will send You further instructions to complete the KYC process. You may also reach out to Flipkart customer care at 04445614700.

● You understand that for the purposes of availing Flipkart EMIoffered through the Flipkart Advanz Services, your credit information/history may need to be obtained from a credit information company by FAPL or the relevant Financing Partner extending Flipkart EMI. You hereby consent to FAPL and/or the Financing Partner(s) for collecting such credit information from any credit information company.

● Subsequent only upon the receipt of your consent, you will authorize FAPL to obtain information from your mobile network operators and its authorised agencies to undertake an evaluation check of your subscriber history with your mobile network operators. You further agree to grant your consent to FAPL to share information and data available with it and its partner lender with your mobile network operators or their authorised agency to undertake such evaluation.

● You declare that details shared by You as part of the KYC and registration process are true and correct to the best of your knowledge. In the event there is any change in the such details, You will promptly inform FAPL and/or the Financing Partners and update the information in your account details.

● You understand that information relating to Your account may be shared with governmental agencies as required under applicable laws.

● You understand that availing the Flipkart Advanz Services is completely voluntary and You are in no way bound to avail such services.

● you acknowledge and declare that you are not a policitally exposed person

● You agree and acknowledge that the Platform(s) is merely a platform on which the payment option extended by the Financing Partner (through Flipkart EMI) is displayed. You shall not hold FAPL or the respective Platform liable for any deficiency in service by the respective Financing Partner in extending Flipkart EMIto You nor shall FAPL or the respective Platform be liable for any default in payment by You to respective Financing Partner.

Disclosures

As per New DLG circular of June 23 - We, Flipkart Advanz Private Limited hereby declare and confirm - the Total number of portfolio and respective amount of each portfolio on which DLG has been offered are as below

 

S.No.	DLG Set	Disbursal Amount under each DLG set (₹ Crores)
1	FK C-1 (Jan’24 to Jun’24)	3948
2	FK C-2 (Jul’24 to Dec’24)	1130
3	FK C-3 (Jan’25 onwards)	1000

Indemnity and Limitation of Liability

● In the event of any breach by You of any term, representation, warranty, covenant or agreement made or given by You in this Agreement, You undertake to indemnify and hold harmless FAPL, its affiliates and their respective directors, officers, employees, agents and representatives (together “the Indemnified Party”) to the extent of any and all damages suffered or incurred by the Indemnified Party in relation to such breach of representation or warranty, covenant or agreement.

● Notwithstanding anything to the contrary contained herein, FAPL, its affiliates and their respective directors, officers, employees, agents and representatives shall have no liability to You or to any third party for any indirect, incidental, special or consequential damages or any loss of revenue or profits arising under or relating to this Agreement; THE MAXIMUM LIABILITY OF FAPL, shallL at all times be limited to Rs.500 arising from any third party claims or from any claims arising from the Flipkart EMI product.

● FAPL in no manner warrants or guarantees the performance of the Financing Partner and You acknowledge that FAPL shall in no manner be responsible for any claim of money or damages in the event the Financing Partner fails to grant Loan product.

● FAPL does not make any representations or warranties on behalf of the Financing Partners;

● You further agree that FAPL, its affiliates and their respective directors, officers, employees, agents and representatives shall in no way be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including, but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses, resulting from the use or the inability to use the product and services of FAPL.

Miscellaneous

● Jurisdiction: This Agreement will be governed by and construed in accordance with Indian laws. Any matter concerning. These terms and conditions shall be governed by the laws of India. Any disputes in relation to the Flipkart Advanz Services or any question pertaining to the interpretation of these terms and conditions shall be settled by arbitration in accordance with the Arbitration and Conciliation Act, 1996. The seat of such arbitration shall be Bengaluru. A sole arbitrator shall preside over the arbitration proceedings with such sole arbitrator appointed by FAPL.

● For any queries in relation to the Flipkart Advanz Services, please contact Flipkart customer care at 04445614700.