By registering with Preksha and accessing its Services, you are representing the following:
a. You are 18 years of age or older;
b. You are capable of entering into a legally binding agreement; and
c. You are not barred or otherwise legally prohibited from accessing or using the Preksha App and Preksha Services.
You agree to seek your credit score from Credit Information Companies using the Preksha App and disclose the said credit score to Preksha. Preksha may use the said credit score to determine your eligibility for access to various Preksha Services. Preksha may at its sole discretion prevent Users from accessing the Preksha App and the Preksha Platforms in part or in whole if the credit score of a User is lower than a minimum entry threshold set by Preksha from time to time.
If you allow anyone to use your account, including individuals under 18 years of age, you will still be responsible for ensuring that such individuals comply with these Terms of Use. You will be responsible for all actions these individuals take in and/or through your account. You also acknowledge that Preksha does not have the responsibility of ensuring that You meet the aforesaid eligibility requirements.
Please read the terms and conditions carefully before registering, accessing or using the Preksha Services (defined below) offered through the https://www.prekshaedu.com/ website, Preksha App (defined below) or through applications or websites of Preksha Edutech Private Limited (defined below). These terms and conditions are a legal contract ("Terms of Use") between You and Preksha Edutech Private Limited (“PREKSHA”) having its registered office at Villa No. 284; Maytas Hill County; Nizampet Road; Bachupally; Hyderabad; Hyderabad; Telangana; 500090; India and its corporate office at xxxxx. You agree and acknowledge that you have read the terms and conditions set forth below. If you do not agree to these Terms of Use or do not wish to be bound by these Terms of Use, you may not use the Preksha Services and/or immediately terminate the Services and/or uninstall the Preksha App.
“Preksha”, “Preksha Edutech Private Limited” “We”, “Us”, “Our” means Preksha and Preksha Group Entities.
“You”, “Yours”, “Yourself”, “User” means any prospective user, or registered user of Preksha, including but not limited to customers and Commercial Partners.
“Preksha App” means mobile application(s), hosted by Preksha for providing services to the Users, and Commercial Partners.
“Preksha Group Entities” means subsidiaries and affiliates of Preksha.
“Preksha Platform” means any platform owned/subscribed/used by Preksha including but not limited to the Preksha Website, the Preksha App, other mobile applications, devices, URLs/links, notifications, chatbots, Preksha’s social media channels or any other communication medium or mechanism used by Preksha to provide services to the Users.
“Preksha Website” means https://www.prekshaedu.com/ or any other website hosted or registered by Preksha.
“Preksha Services” means and includes all services offered / to be offered by Preksha either directly or through its Commercial Partners.
“Commercial Partner” means any individual or entity with whom Preksha have a contractual relationship.
“Terms of use” / “Terms and Conditions” are interchangeably used and mean these Terms of Service including the Supplemental Terms.
You agree that:
a. Unless otherwise permitted by Preksha in writing, You may only possess one account.
b. Your use of the App shall not violate any applicable law or regulation.
c. Your use of the Preksha App, and Preksha Platforms shall be only for educational purposes.
d. All registration information you submit is truthful, complete and accurate and you agree to maintain accurate, complete and up-to-date account information in your account.
e. You are responsible for all activity that occurs under your account.
f. You are responsible for maintaining the confidentiality of the access credentials of your account and are fully responsible for all activities that occur under your account. You agree to immediately notify Preksha of any unauthorized use of your passcode or account or any other breach of security.
g. You agree that You are aware and responsible for all transactions taking place through your Account. You shall continue to be responsible for the transactions in your account, if you knowingly or negligently (i) grant any other person access to your Preksha App, (ii) permit them to transact on Your account, or (iii) transact on any other person’s behalf or directions; whether by sharing one-time passwords or in any other manner.
h. You shall not indulge in decompiling, reverse engineering, disassembling content, removing any intellectual property right associated with the Preksha App, including our copyright, trademarks, trade secrets, designs, and patents, or other proprietary notices.
i. You shall not access or use the Preksha App in any manner that (i) may be harmful to the operation of the Preksha App or its content; (ii) may be unlawful; (iii) maybe harmful to Preksha or to any other User; (iv) may hinder the other User’s enjoyment of the Preksha App; or (v) to defraud other Users, Preksha or any Commercial Partner
j. You shall not post, distribute, or otherwise transmit or make available any software or other computer files that contain a virus, other harmful component or malicious content, or otherwise impair or damage the Preksha App or any connected network, or otherwise interfere with any person or entity's use or enjoyment of the Preksha App.
k. You shall not delete or modify any content of the Preksha App.
l. Your use of the Preksha App shall indicate that you have provided consent to automatically receive updates such as bug fixes, patches, enhanced functions, missing plug-ins and new versions (collectively, ‘Updates’), for the purpose of effective delivery of the Preksha Services. Please note that your continued use of the Preksha App following such Updates would mean deemed acceptance by you of the same.
m. You understand and accept that not all products, services and rewards offered on the Preksha App are available in all geographic areas and you may not be eligible for all the products, services and rewards offered by Preksha on the Preksha App or other Preksha Platforms. Preksha reserves the right to determine the availability and eligibility for any product, services and rewards offered on the Preksha App or any Preksha Platform.
n. You shall request Preksha, to block the Account and change the passcode immediately for the account, if your device has been lost or stolen.
You agree and acknowledge that several features of Preksha are subject to certain supplemental Terms of Use set out below. Your usage of any features that have a set of Supplemental Terms of Use is deemed to be acceptance of the said Supplemental Terms of Use. You further agree that any Preksha Services may be provided to You either directly by Preksha or by any Preksha Group Entity and in particular, any payment to you or made by you may be routed through Preksha Edutech Private Limited (“Facilitator”).
If We believe that you have violated any of the conditions as mentioned under these Terms of Use, our Privacy Policy, Supplemental Terms applicable to certain services or any agreements consented to via the Preksha App, we reserve the right to suspend your access to the Preksha App and/or delete your account without prior notice to You. You may reach out to the Preksha support team to assist you with any query or question arising as a result of the aforementioned suspension/ deletion.
You may end your legal agreement with Preksha at any time by deactivating your account and discontinuing the use of the Preksha Services.
Following a request for deletion, or termination of account by Preksha, We consider the agreement to be terminated and take appropriate steps. Provided however, Preksha may continue to maintain transaction records for record keeping purposes and/or regulatory reasons. Deletion of the account or Termination also does not terminate Your obligations undertaken prior to deletion or termination of the account including but not limited to the obligation to repay any loan or credit line availed by You. Preksha may continue to retain a record of your transactions made on the Preksha App for regulatory and archival purposes.
You are responsible for any fees that may be applicable to certain transactions or use of the Preksha App; where you will be notified of such applicable fees, prior to the completion of any transaction. By clicking ‘Proceed’ / ‘Submit’ / ‘Continue’ or any other similar button on the Preksha App, You shall be deemed to have consented to the fees displayed on the said page.
We collect, hold, use and transfer your personal data in accordance with our Privacy Policy. By agreeing to the Terms of Use, you also hereby agree to our Privacy Policy, which may be updated and/or modified by us from time to time. You understand and agree that, to the extent permitted by applicable law, any data provided by you in connection with the Preksha Services may be shared with our subsidiaries, affiliates or partners, and/ or used by us for enhancing the Preksha Services, including but not limited to creating new products. Please refer to the Privacy Policy for further clarity on the subject.
The Preksha Services, including all content, software, functions, material, and information made available or accessible through the Preksha Platform are provided “as is”. Preksha and their respective agents, co-branders or partners, make no representation and warranty of any kind for the content, software, functions, material, and information available/accessible through the Services.
Preksha does not warrant that the functions contained in content, information and materials on the Preksha App, including, without limitation any third-party sites or services linked to the Preksha App or any Preksha Platform will be uninterrupted, timely or error-free, that the defects will be rectified, or that the Preksha App or the servers that make such content, information, and materials available are free of viruses or other harmful components.
Preksha cannot assure that Commercial Partners or other Users are or will be complying with the foregoing Terms of Use or any other provisions mentioned here. You assume all risk of harm or injury resulting from any such lack of compliance by any other User or Commercial Partner. You should ensure that you have undertaken adequate due diligence prior to using the Preksha App.
In no event shall Preksha, their officers, shareholders, subsidiaries, associate companies, directors, employees and agents, partners, co-branders, licensors, licensees, consultants, or contractors be liable to you or any third party for any special, incidental, indirect, consequential or punitive damages or losses whatsoever, or damages for loss of data or profits, goodwill, and/ or other intangible loss, whether or not foreseeable and regardless of whether Preksha has been advised of the possibility of such damages, or based on any theory of liability, including breach of contract or warranty, negligence or other tortious action, or any other claim arising out of or in connection with your use of, or access to, the Preksha Platforms, Preksha App or Preksha Services.
In no event shall Preksha’s total cumulative liability to You in connection with the Preksha Services for all damages, losses and causes of action (whether arising under contract or otherwise), arising from or relating to Your use of the Preksha App and Preksha Platforms or arising from these Terms of Use exceed INR 10,000 (Indian Rupees ten thousand only).
You agree to defend, indemnify and hold harmless Preksha, its officers, owners, directors, employees and agents, partners, co-branders, licensors, licensees, consultants, contractors and other applicable third parties (collectively ‘Indemnified Parties’) from and against any and all claims, demands, damages, obligations, losses, liabilities, cause of action, costs or debt, and expenses (including any legal fees) arising from:
a. your use of and access to the Preksha App and the Preksha Platforms;
b. your violation / breach of any of these Terms of Use;
c. your violation of any third party right, including any intellectual property right or privacy right;
d. the committing of any of the prohibited activities as stated herein;
e. your failure to be in compliance with applicable law, including tax laws and cyber security laws; or
f. any claim that your use of the Preksha App caused damage to a third party.
Except as otherwise set forth in these Terms of Use, these Terms of Use
shall be exclusively governed by and construed in accordance with the laws
of India. Any dispute, conflict, claim or controversy arising out of or
broadly in connection with or relating to the Preksha Services or these
Terms, including those relating to its validity, its construction or its
enforceability, but excluding those provisions where it has been specified
that Preksha’s decision shall be final, (any “Dispute”) shall be, if initiated
by the User, first raised by the user to xxxxx. If such Dispute has not been
settled within sixty (60) days after the User reaches out to the
aforementioned email IDs, such Dispute can be referred to and shall be
exclusively and finally resolved by arbitration under the Arbitration and
Conciliation Act, 1996 (“Act”). Provided however when Preksha raises any
dispute, Preksha may directly initiate arbitration in accordance with this
clause. The Dispute shall be resolved by one (1) arbitrator to be appointed
by Preksha. The place the arbitration shall be Hyderabad, India. The
language of the arbitration shall be English. The existence and content of
the arbitration proceedings, including documents and briefs submitted by
the parties, and correspondence, orders and awards issued by the sole
arbitrator, shall remain strictly confidential and shall not be disclosed to
any third party without the express written consent from the other party
unless: (i) the disclosure to the third party is reasonably required in the
context of conducting arbitration proceedings; and (ii) the third party
agrees unconditionally in writing to be bound by the confidentiality
obligation stipulated herein.
Preksha App, Preksha Website, Preksha logos and the Preksha Services
are protected by copyright, trademarks, patents, trade secret and/or other
intellectual property laws. No information, content or material from the
Preksha App including, without limitation, all of the page headers, images,
illustrations, graphics, audio clips, video clips or text, reports generated,
trademarks, trade names may be copied, reproduced, republished,
uploaded, posted, transmitted or distributed in any way without Our
express written permission. You are hereby given a limited license to use
the Preksha App and the Preksha Platforms, subject to your agreement of
these Terms of Use.
Preksha, and its licensors, if any, are the sole owners of the underlying
software and source code associated with the Preksha App and Preksha
Platforms as well as any other intellectual property rights of any other
nature associated with the Preksha App, Preksha Platforms and their
content.
When you upload, submit, store, send or receive content that may include
feedback to or through the Preksha App, you give Preksha a worldwide,
perpetual license to use, host, store, reproduce, modify, create derivative
works, communicate, publish, publicly perform, publicly display and
distribute such content. This license shall not expire even if it is not used
by Preksha. The rights you grant in this license are for the limited purpose
of operating, promoting, and improving the Preksha Services, and to
develop new ones. This license continues even if you stop using the
Preksha Services.
The Preksha App, the Preksha Services, all your transactions with the
Preksha App, and our relationship shall be governed by the laws of India,
without regard to conflict of law principles. You agree that subject to the
Disputes & Arbitration Clause above, all claims, differences and disputes
which we may have shall be subject to the exclusive jurisdiction of the
competent courts located in Hyderabad, Telangana, India.
You shall not transfer or assign any of Your rights and obligations arising from these Terms of Use.
You agree and acknowledge that Preksha may assign or transfer its rights
and obligations under these Terms of Use in whole or in part, to (i) any
other Preksha Group Entity; (ii) an acquirer of Preksha or any Preksha
Group Entity or their respective equity interest, business or assets; or (iii)
a successor entity resulting from any corporate action including mergers or demergers.
No joint venture, partnership, employment or agency relationship exists
between you, Preksha, Preksha Group Entities or any Third Party as a
result of the contract contained in these Terms of Use. If any provision of
these Terms of Use is held to be illegal, invalid or unenforceable, in whole
or in part, under any law, such provision or part thereof shall to that
extent be deemed not to form part of these Terms of Use but the legality,
validity and enforceability of the other provisions in these Terms of Use
shall not be affected. In that event, Preksha shall replace the illegal,
invalid or unenforceable provision or part thereof with a provision or part
thereof that is legal, valid and enforceable and that has, to the greatest
extent possible, a similar effect as the illegal, invalid or unenforceable
provision or part thereof, given the contents and purpose of these Terms of
Use. These Terms of Use (together with any additional terms displayed in
specific sections of thePreksha App or Preksha Website) constitute the
entire agreement and understanding of the parties with respect to its
subject matter and replaces and supersedes all prior or contemporaneous
agreements or undertakings regarding such subject matter.
We may amend these Terms of Use at any time by posting an updated
version on the Preksha Website. The updated version of these Terms of
Use shall supersede the previous version of the Terms of Use and take
effect immediately upon posting. You have the right to opt-out of agreeing
to these Terms of Use or any future updated version of the Terms of Use,
by ceasing to use the Preksha App. However, please be aware that your
continued use of the Preksha Services from the launch of any updated
Terms of Use would mean deemed acceptance of such updated Terms of
Use including any modification thereof. We recommend you to keep
checking the Terms of Use often to be familiar with any updates and
changes.
If you have any concerns, complaints or grievances about the terms or
other users or their manner of use of the application infringe or violate
your rights or any complaints about how we handle your personal
information, please feel free to contact customer support within the
Preksha App, on Preksha’s official social media channels, or the Grievance
Officer any time at:
Name: Sheshadri Shekhar Bhamidipati
Email: sekhar@prekshaedu.com
These supplemental terms are applicable to all Users.
a. Preksha facilitates distribution of loans for the certain banks and NBFCs (Lenders). Please check the our lenders page for more details
a. Based on the User’s credit information, KYC and on the Lender’s
preliminary lending criteria, Preksha may offer a loan to the User.
Preksha does not guarantee or assure loans to any User.
b. Any User may check his loan eligibility and avail the loan through
CKYC verification, liveliness check or Video KYC verification, creation of
e-NACH mandate and OTP based electronic execution of loan documents.
The loan document is as set out below:
1. Loan agreement link
c. At any stage of the loan disbursal journey, including but not limited to
upon failure in completing the KYC process or upon inability to create
e-NACH mandate, the Lender may decline to issue the loan. No User is
assured of a loan and the Lender has the discretion in refusing a loan to
any User for any reason whatsoever.
d. A Key Facts Statement (KFS) will be displayed on the Preksha App
along with details such as principal amount, EMI, processing fee and rate
of interest.
e. User agrees and acknowledges that upon the User completing KYC
process and being sanctioned a credit line, the Lenders may report the
credit line to relevant credit bureaus.
a. A User having availed of a loan shall hereinafter be referred to as a Borrower.
b. The loan will have to be repaid by the Borrower, by way of equated
monthly installments (‘EMIs’) of the amount, specified on the Preksha
App. During the withdrawal process the Borrower will have created an
NACH / e-NACH / ECS mandate in favour of Preksha and such mandate
will be used by Preksha to auto-deduct the EMI every month from the
bank account selected by the Borrower during the withdrawal process.
c. The Borrower will be required to pay the entire amount of the EMI for a
particular month on or before the payment due date, as indicated by
Preksha or the Lender and the same shall not be permitted to be carried
forward to the next month. In the event the payment is not made by the
due date as specified, it will be construed as a default by the Borrower and
the Borrower will become liable to pay the amount together with the
additional interest and/ or late payment charges as may be levied due to
such default. Failure to pay any EMI on time may also result in the
Borrower’s credit score being adversely affected.
d. Users agree that by availing the educational loan the Borrower consents
to the Lender, Preksha and their representatives and agents contacting
the Borrower whether by phone, in person or otherwise, to recover the
outstanding dues. Borrowers agree that such parties may reach out to the
Borrowers notwithstanding his / her registration with the National Do Not
Call Registry.
e. Upon specific events specified in the Loan Documents having taken
place, the Lender may demand immediate repayment of the entire
outstanding amount.
f. The terms of the loan communicated to the Borrower during your
withdrawal process will be binding on the Borrower. However, the terms of
the loan including the interest rate may be varied by the Lender based on
directions of RBI or other regulatory requirements. In such a case, any
variation to the terms of the Loan will be communicated to the Borrower
by Preksha and/or the Lender.
g. Nothing prevents the Borrower from pre-paying the loan in full subject
to the pre-payment charges specified (if any) in the Loan Documents. Such
charges, if any, will be communicated to the Borrower prior to such
prepayment and the Borrower may choose to proceed after having
considered the same.
h. The Loan Documents create obligations independent of these Terms of
Use and stopping the use of the Preksha App shall not affect the
obligations of the Borrowers owed to the Lenders under the Loan
Documents.
a. A Borrower shall receive the signed agreement on email along with the Key Facts Statement.
Users shall have information in relation to the loan available to him/her
on the Preksha App and may seek additional information via Preksha
Customer Support through the Preksha App. If the information on
Preksha App is not sufficient to resolve the query, the user may reach out
to Preksha at assist@prekshaedu.com. However, the User is also entitled to contact the
relevant Lender and/or follow the relevant Lender’s grievance redressal
policy. The Lenders and their respective grievance redressal mechanisms
are as listed in our lenders page
By registering with Preksha and accessing its Services, you are representing the following:
a. You are 18 years of age or older;
b. You are capable of entering into a legally binding agreement; and
c. You are not barred or otherwise legally prohibited from accessing or using the Preksha App and Preksha Services.
You agree to seek your credit score from Credit Information Companies using the Preksha App and disclose the said credit score to Preksha. Preksha may use the said credit score to determine your eligibility for access to various Preksha Services. Preksha may at its sole discretion prevent Users from accessing the Preksha App and the Preksha Platforms in part or in whole if the credit score of a User is lower than a minimum entry threshold set by Preksha from time to time.
If you allow anyone to use your account, including individuals under 18 years of age, you will still be responsible for ensuring that such individuals comply with these Terms of Use. You will be responsible for all actions these individuals take in and/or through your account. You also acknowledge that Preksha does not have the responsibility of ensuring that You meet the aforesaid eligibility requirements.
Please read the terms and conditions carefully before registering, accessing or using the Preksha Services (defined below) offered through the https://www.prekshaedu.com/ website, Preksha App (defined below) or through applications or websites of Preksha Edutech Private Limited (defined below). These terms and conditions are a legal contract ("Terms of Use") between You and Preksha Edutech Private Limited (“PREKSHA”) having its registered office at Villa No. 284; Maytas Hill County; Nizampet Road; Bachupally; Hyderabad; Hyderabad; Telangana; 500090; India and its corporate office at xxxxx. You agree and acknowledge that you have read the terms and conditions set forth below. If you do not agree to these Terms of Use or do not wish to be bound by these Terms of Use, you may not use the Preksha Services and/or immediately terminate the Services and/or uninstall the Preksha App.
“Preksha”, “Preksha Edutech Private Limited” “We”, “Us”, “Our” means Preksha and Preksha Group Entities.
“You”, “Yours”, “Yourself”, “User” means any prospective user, or registered user of Preksha, including but not limited to customers and Commercial Partners.
“Preksha App” means mobile application(s), hosted by Preksha for providing services to the Users, and Commercial Partners.
“Preksha Group Entities” means subsidiaries and affiliates of Preksha.
“Preksha Platform” means any platform owned/subscribed/used by Preksha including but not limited to the Preksha Website, the Preksha App, other mobile applications, devices, URLs/links, notifications, chatbots, Preksha’s social media channels or any other communication medium or mechanism used by Preksha to provide services to the Users.
“Preksha Website” means https://www.prekshaedu.com/ or any other website hosted or registered by Preksha.
“Preksha Services” means and includes all services offered / to be offered by Preksha either directly or through its Commercial Partners.
“Commercial Partner” means any individual or entity with whom Preksha have a contractual relationship.
“Terms of use” / “Terms and Conditions” are interchangeably used and mean these Terms of Service including the Supplemental Terms.
You agree that:
a. Unless otherwise permitted by Preksha in writing, You may only possess one account.
b. Your use of the App shall not violate any applicable law or regulation.
c. Your use of the Preksha App, and Preksha Platforms shall be only for educational purposes.
d. All registration information you submit is truthful, complete and accurate and you agree to maintain accurate, complete and up-to-date account information in your account.
e. You are responsible for all activity that occurs under your account.
f. You are responsible for maintaining the confidentiality of the access credentials of your account and are fully responsible for all activities that occur under your account. You agree to immediately notify Preksha of any unauthorized use of your passcode or account or any other breach of security.
g. You agree that You are aware and responsible for all transactions taking place through your Account. You shall continue to be responsible for the transactions in your account, if you knowingly or negligently (i) grant any other person access to your Preksha App, (ii) permit them to transact on Your account, or (iii) transact on any other person’s behalf or directions; whether by sharing one-time passwords or in any other manner.
h. You shall not indulge in decompiling, reverse engineering, disassembling content, removing any intellectual property right associated with the Preksha App, including our copyright, trademarks, trade secrets, designs, and patents, or other proprietary notices.
i. You shall not access or use the Preksha App in any manner that (i) may be harmful to the operation of the Preksha App or its content; (ii) may be unlawful; (iii) maybe harmful to Preksha or to any other User; (iv) may hinder the other User’s enjoyment of the Preksha App; or (v) to defraud other Users, Preksha or any Commercial Partner
j. You shall not post, distribute, or otherwise transmit or make available any software or other computer files that contain a virus, other harmful component or malicious content, or otherwise impair or damage the Preksha App or any connected network, or otherwise interfere with any person or entity's use or enjoyment of the Preksha App.
k. You shall not delete or modify any content of the Preksha App.
l. Your use of the Preksha App shall indicate that you have provided consent to automatically receive updates such as bug fixes, patches, enhanced functions, missing plug-ins and new versions (collectively, ‘Updates’), for the purpose of effective delivery of the Preksha Services. Please note that your continued use of the Preksha App following such Updates would mean deemed acceptance by you of the same.
m. You understand and accept that not all products, services and rewards offered on the Preksha App are available in all geographic areas and you may not be eligible for all the products, services and rewards offered by Preksha on the Preksha App or other Preksha Platforms. Preksha reserves the right to determine the availability and eligibility for any product, services and rewards offered on the Preksha App or any Preksha Platform.
n. You shall request Preksha, to block the Account and change the passcode immediately for the account, if your device has been lost or stolen.
You agree and acknowledge that several features of Preksha are subject to certain supplemental Terms of Use set out below. Your usage of any features that have a set of Supplemental Terms of Use is deemed to be acceptance of the said Supplemental Terms of Use. You further agree that any Preksha Services may be provided to You either directly by Preksha or by any Preksha Group Entity and in particular, any payment to you or made by you may be routed through Preksha Edutech Private Limited (“Facilitator”).
If We believe that you have violated any of the conditions as mentioned under these Terms of Use, our Privacy Policy, Supplemental Terms applicable to certain services or any agreements consented to via the Preksha App, we reserve the right to suspend your access to the Preksha App and/or delete your account without prior notice to You. You may reach out to the Preksha support team to assist you with any query or question arising as a result of the aforementioned suspension/ deletion.
You may end your legal agreement with Preksha at any time by deactivating your account and discontinuing the use of the Preksha Services.
Following a request for deletion, or termination of account by Preksha, We consider the agreement to be terminated and take appropriate steps. Provided however, Preksha may continue to maintain transaction records for record keeping purposes and/or regulatory reasons. Deletion of the account or Termination also does not terminate Your obligations undertaken prior to deletion or termination of the account including but not limited to the obligation to repay any loan or credit line availed by You. Preksha may continue to retain a record of your transactions made on the Preksha App for regulatory and archival purposes.
You are responsible for any fees that may be applicable to certain transactions or use of the Preksha App; where you will be notified of such applicable fees, prior to the completion of any transaction. By clicking ‘Proceed’ / ‘Submit’ / ‘Continue’ or any other similar button on the Preksha App, You shall be deemed to have consented to the fees displayed on the said page.
We collect, hold, use and transfer your personal data in accordance with our Privacy Policy. By agreeing to the Terms of Use, you also hereby agree to our Privacy Policy, which may be updated and/or modified by us from time to time. You understand and agree that, to the extent permitted by applicable law, any data provided by you in connection with the Preksha Services may be shared with our subsidiaries, affiliates or partners, and/ or used by us for enhancing the Preksha Services, including but not limited to creating new products. Please refer to the Privacy Policy for further clarity on the subject.
The Preksha Services, including all content, software, functions, material, and information made available or accessible through the Preksha Platform are provided “as is”. Preksha and their respective agents, co-branders or partners, make no representation and warranty of any kind for the content, software, functions, material, and information available/accessible through the Services.
Preksha does not warrant that the functions contained in content, information and materials on the Preksha App, including, without limitation any third-party sites or services linked to the Preksha App or any Preksha Platform will be uninterrupted, timely or error-free, that the defects will be rectified, or that the Preksha App or the servers that make such content, information, and materials available are free of viruses or other harmful components.
Preksha cannot assure that Commercial Partners or other Users are or will be complying with the foregoing Terms of Use or any other provisions mentioned here. You assume all risk of harm or injury resulting from any such lack of compliance by any other User or Commercial Partner. You should ensure that you have undertaken adequate due diligence prior to using the Preksha App.
In no event shall Preksha, their officers, shareholders, subsidiaries, associate companies, directors, employees and agents, partners, co-branders, licensors, licensees, consultants, or contractors be liable to you or any third party for any special, incidental, indirect, consequential or punitive damages or losses whatsoever, or damages for loss of data or profits, goodwill, and/ or other intangible loss, whether or not foreseeable and regardless of whether Preksha has been advised of the possibility of such damages, or based on any theory of liability, including breach of contract or warranty, negligence or other tortious action, or any other claim arising out of or in connection with your use of, or access to, the Preksha Platforms, Preksha App or Preksha Services.
In no event shall Preksha’s total cumulative liability to You in connection with the Preksha Services for all damages, losses and causes of action (whether arising under contract or otherwise), arising from or relating to Your use of the Preksha App and Preksha Platforms or arising from these Terms of Use exceed INR 10,000 (Indian Rupees ten thousand only).
You agree to defend, indemnify and hold harmless Preksha, its officers, owners, directors, employees and agents, partners, co-branders, licensors, licensees, consultants, contractors and other applicable third parties (collectively ‘Indemnified Parties’) from and against any and all claims, demands, damages, obligations, losses, liabilities, cause of action, costs or debt, and expenses (including any legal fees) arising from:
a. your use of and access to the Preksha App and the Preksha Platforms;
b. your violation / breach of any of these Terms of Use;
c. your violation of any third party right, including any intellectual property right or privacy right;
d. the committing of any of the prohibited activities as stated herein;
e. your failure to be in compliance with applicable law, including tax laws and cyber security laws; or
f. any claim that your use of the Preksha App caused damage to a third party.
Except as otherwise set forth in these Terms of Use, these Terms of Use
shall be exclusively governed by and construed in accordance with the laws
of India. Any dispute, conflict, claim or controversy arising out of or
broadly in connection with or relating to the Preksha Services or these
Terms, including those relating to its validity, its construction or its
enforceability, but excluding those provisions where it has been specified
that Preksha’s decision shall be final, (any “Dispute”) shall be, if initiated
by the User, first raised by the user to xxxxx. If such Dispute has not been
settled within sixty (60) days after the User reaches out to the
aforementioned email IDs, such Dispute can be referred to and shall be
exclusively and finally resolved by arbitration under the Arbitration and
Conciliation Act, 1996 (“Act”). Provided however when Preksha raises any
dispute, Preksha may directly initiate arbitration in accordance with this
clause. The Dispute shall be resolved by one (1) arbitrator to be appointed
by Preksha. The place the arbitration shall be Hyderabad, India. The
language of the arbitration shall be English. The existence and content of
the arbitration proceedings, including documents and briefs submitted by
the parties, and correspondence, orders and awards issued by the sole
arbitrator, shall remain strictly confidential and shall not be disclosed to
any third party without the express written consent from the other party
unless: (i) the disclosure to the third party is reasonably required in the
context of conducting arbitration proceedings; and (ii) the third party
agrees unconditionally in writing to be bound by the confidentiality
obligation stipulated herein.
Preksha App, Preksha Website, Preksha logos and the Preksha Services
are protected by copyright, trademarks, patents, trade secret and/or other
intellectual property laws. No information, content or material from the
Preksha App including, without limitation, all of the page headers, images,
illustrations, graphics, audio clips, video clips or text, reports generated,
trademarks, trade names may be copied, reproduced, republished,
uploaded, posted, transmitted or distributed in any way without Our
express written permission. You are hereby given a limited license to use
the Preksha App and the Preksha Platforms, subject to your agreement of
these Terms of Use.
Preksha, and its licensors, if any, are the sole owners of the underlying
software and source code associated with the Preksha App and Preksha
Platforms as well as any other intellectual property rights of any other
nature associated with the Preksha App, Preksha Platforms and their
content.
When you upload, submit, store, send or receive content that may include
feedback to or through the Preksha App, you give Preksha a worldwide,
perpetual license to use, host, store, reproduce, modify, create derivative
works, communicate, publish, publicly perform, publicly display and
distribute such content. This license shall not expire even if it is not used
by Preksha. The rights you grant in this license are for the limited purpose
of operating, promoting, and improving the Preksha Services, and to
develop new ones. This license continues even if you stop using the
Preksha Services.
The Preksha App, the Preksha Services, all your transactions with the
Preksha App, and our relationship shall be governed by the laws of India,
without regard to conflict of law principles. You agree that subject to the
Disputes & Arbitration Clause above, all claims, differences and disputes
which we may have shall be subject to the exclusive jurisdiction of the
competent courts located in Hyderabad, Telangana, India.
You shall not transfer or assign any of Your rights and obligations arising from these Terms of Use.
You agree and acknowledge that Preksha may assign or transfer its rights
and obligations under these Terms of Use in whole or in part, to (i) any
other Preksha Group Entity; (ii) an acquirer of Preksha or any Preksha
Group Entity or their respective equity interest, business or assets; or (iii)
a successor entity resulting from any corporate action including mergers or demergers.
No joint venture, partnership, employment or agency relationship exists
between you, Preksha, Preksha Group Entities or any Third Party as a
result of the contract contained in these Terms of Use. If any provision of
these Terms of Use is held to be illegal, invalid or unenforceable, in whole
or in part, under any law, such provision or part thereof shall to that
extent be deemed not to form part of these Terms of Use but the legality,
validity and enforceability of the other provisions in these Terms of Use
shall not be affected. In that event, Preksha shall replace the illegal,
invalid or unenforceable provision or part thereof with a provision or part
thereof that is legal, valid and enforceable and that has, to the greatest
extent possible, a similar effect as the illegal, invalid or unenforceable
provision or part thereof, given the contents and purpose of these Terms of
Use. These Terms of Use (together with any additional terms displayed in
specific sections of thePreksha App or Preksha Website) constitute the
entire agreement and understanding of the parties with respect to its
subject matter and replaces and supersedes all prior or contemporaneous
agreements or undertakings regarding such subject matter.
We may amend these Terms of Use at any time by posting an updated
version on the Preksha Website. The updated version of these Terms of
Use shall supersede the previous version of the Terms of Use and take
effect immediately upon posting. You have the right to opt-out of agreeing
to these Terms of Use or any future updated version of the Terms of Use,
by ceasing to use the Preksha App. However, please be aware that your
continued use of the Preksha Services from the launch of any updated
Terms of Use would mean deemed acceptance of such updated Terms of
Use including any modification thereof. We recommend you to keep
checking the Terms of Use often to be familiar with any updates and
changes.
If you have any concerns, complaints or grievances about the terms or
other users or their manner of use of the application infringe or violate
your rights or any complaints about how we handle your personal
information, please feel free to contact customer support within the
Preksha App, on Preksha’s official social media channels, or the Grievance
Officer any time at:
Name: Sheshadri Shekhar Bhamidipati
Email: sekhar@prekshaedu.com
These supplemental terms are applicable to all Users.
a. Preksha facilitates distribution of loans for the certain banks and NBFCs (Lenders). Please check the our lenders page for more details
a. Based on the User’s credit information, KYC and on the Lender’s
preliminary lending criteria, Preksha may offer a loan to the User.
Preksha does not guarantee or assure loans to any User.
b. Any User may check his loan eligibility and avail the loan through
CKYC verification, liveliness check or Video KYC verification, creation of
e-NACH mandate and OTP based electronic execution of loan documents.
The loan document is as set out below:
1. Loan agreement link
c. At any stage of the loan disbursal journey, including but not limited to
upon failure in completing the KYC process or upon inability to create
e-NACH mandate, the Lender may decline to issue the loan. No User is
assured of a loan and the Lender has the discretion in refusing a loan to
any User for any reason whatsoever.
d. A Key Facts Statement (KFS) will be displayed on the Preksha App
along with details such as principal amount, EMI, processing fee and rate
of interest.
e. User agrees and acknowledges that upon the User completing KYC
process and being sanctioned a credit line, the Lenders may report the
credit line to relevant credit bureaus.
a. A User having availed of a loan shall hereinafter be referred to as a Borrower.
b. The loan will have to be repaid by the Borrower, by way of equated
monthly installments (‘EMIs’) of the amount, specified on the Preksha
App. During the withdrawal process the Borrower will have created an
NACH / e-NACH / ECS mandate in favour of Preksha and such mandate
will be used by Preksha to auto-deduct the EMI every month from the
bank account selected by the Borrower during the withdrawal process.
c. The Borrower will be required to pay the entire amount of the EMI for a
particular month on or before the payment due date, as indicated by
Preksha or the Lender and the same shall not be permitted to be carried
forward to the next month. In the event the payment is not made by the
due date as specified, it will be construed as a default by the Borrower and
the Borrower will become liable to pay the amount together with the
additional interest and/ or late payment charges as may be levied due to
such default. Failure to pay any EMI on time may also result in the
Borrower’s credit score being adversely affected.
d. Users agree that by availing the educational loan the Borrower consents
to the Lender, Preksha and their representatives and agents contacting
the Borrower whether by phone, in person or otherwise, to recover the
outstanding dues. Borrowers agree that such parties may reach out to the
Borrowers notwithstanding his / her registration with the National Do Not
Call Registry.
e. Upon specific events specified in the Loan Documents having taken
place, the Lender may demand immediate repayment of the entire
outstanding amount.
f. The terms of the loan communicated to the Borrower during your
withdrawal process will be binding on the Borrower. However, the terms of
the loan including the interest rate may be varied by the Lender based on
directions of RBI or other regulatory requirements. In such a case, any
variation to the terms of the Loan will be communicated to the Borrower
by Preksha and/or the Lender.
g. Nothing prevents the Borrower from pre-paying the loan in full subject
to the pre-payment charges specified (if any) in the Loan Documents. Such
charges, if any, will be communicated to the Borrower prior to such
prepayment and the Borrower may choose to proceed after having
considered the same.
h. The Loan Documents create obligations independent of these Terms of
Use and stopping the use of the Preksha App shall not affect the
obligations of the Borrowers owed to the Lenders under the Loan
Documents.
a. A Borrower shall receive the signed agreement on email along with the Key Facts Statement.
Users shall have information in relation to the loan available to him/her
on the Preksha App and may seek additional information via Preksha
Customer Support through the Preksha App. If the information on
Preksha App is not sufficient to resolve the query, the user may reach out
to Preksha at assist@prekshaedu.com. However, the User is also entitled to contact the
relevant Lender and/or follow the relevant Lender’s grievance redressal
policy. The Lenders and their respective grievance redressal mechanisms
are as listed in our lenders page
Backed by Decades of
executive management experience.
Backed by Decades of
executive management experience.