Terms & Conditions

Welcome to Paynekt. These Terms and Conditions govern your legal use of our platform, web tools, and referral ecosystem. By accessing our platform or submitting a friend's details for a loan referral, you agree to follow these rules completely.

1. Nature of Service

  • Referral Only: Paynekt operates strictly as a digital financial networking and marketing referral interface. We are not a bank, Non-Banking Financial Company (NBFC), or direct lender.
  • No Lending Authority: Any loan product you find or refer on our system is evaluated, approved, and disbursed solely by our registered third-party banking partners.

2. User Commitments & Referral Consent

  • Mandatory Permission: You must legally obtain the explicit, prior verbal or written consent of any friend, relative, or contact before typing their personal details or phone number into Paynekt.
  • Data Accuracy: You promise that all information you share about yourself (for payouts) and your referral is entirely honest, accurate, and up to date.
  • Anti-Spam Policy: You agree not to spam our system, generate fake profiles, or use automated software bots to submit random leads.

3. Referral Rewards & Commission Payouts

  • Disbursement Dependency: Simply sending a referral link or submitting a name does not automatically qualify you for a cash bonus or commission.
  • Final Approval: A payout is only earned and processed after our partner bank completely approves, validates, and successfully disburses the loan amount to your referred contact.
  • Payment Channel: All successful referral payouts will be transferred to your registered bank account or UPI ID. ReferFriend reserves the right to modify commission rates or cancel payouts if any fraudulent activity or self-referral is detected.

4. Limitation of Liability

  • No Approval Guarantee: Paynekt cannot guarantee that a referred friend will be approved for a loan. Banks use their own strict criteria (like credit scores and salary rules) to make final decisions.
  • Third-Party Agreements: We are not responsible for any issues, hidden fees, disagreements, or legal conflicts that may happen between your referred friend and the partner financial institution after a loan is disbursed.