1. Introduction
Welcome to Optimize (“we”, “our”, “us”). These Terms & Conditions (“Terms”) govern your access to and use of the Optimize platform (“Platform”), which facilitates daily/weekly/monthly prepayments on consumer loans to help you reduce overall interest and loan tenure. By using the platform, you agree to including but not be limited to these Terms, our Privacy Policy, and all applicable laws, including the Reserve Bank of India (RBI) guidelines and Indian law.
2. Eligibility & Registration
- You must be at least 18 years old and legally capable of entering into contracts in India.
- By registering, you confirm that all personal and financial information provided is true, accurate, and up-to-date.
- We reserve the right to verify your identity at any stage.
3. Service Features
- The Platform enables daily, flexible prepayment towards your existing consumer loans with your chosen lenders.
- All transactions are facilitated via secure, RBI-compliant channels (e.g., UPI, NACH, bank APIs).
- Prepayments are processed as per the schedules set by you and recognized by your lender.
4. RBI Compliance & Regulatory Assurances
- SaveMax adheres to all RBI regulations, including Know Your Customer (KYC), data privacy, and payment security norms.
- Funds may be retained by SaveMax in case of limitations by your bank policies; otherwise, all prepayments are directly credited to your respective loan accounts with partnered banks/NBFCs.
- In case of a regulatory change, we will update our processes and inform users as required.
5. User Obligations
- You are responsible for ensuring that your linked loan and bank accounts are valid and active.
- Prepayments are voluntary and do not substitute for statutory EMIs or other lender-mandated payments.
- You agree to maintain a sufficient balance in your account to honor scheduled prepayments.
- You understand that while daily prepayments reduce your interest and loan tenure, the exact benefit depends on your lender's policies, which may be subject to change.
6. Fees & Charges
- Optimize may levy nominal platform fees for premium features or transaction processing (details prominently disclosed on the app).
- All fees are updated in advance and are subject to GST or other applicable taxes.
- No hidden charges will be levied without your explicit consent.
7. Data Privacy & Security
- We collect and process your data per our Privacy Policy, in compliance with the Information Technology Act, 2000, and applicable regulations.
- Data is stored securely and may be shared with unauthorized third parties only post proper consent from the user and utility of the same.
- You have the right to review and correct your data at any time.
8. Limitation of Liability
- The Platform acts only as a facilitator between you and your lender; final credit processing and interest calculations are the lender's responsibility.
- Optimize is not liable for delays or errors caused by banks, NBFCs, or technical failures beyond our reasonable control.
- Under no circumstances will Optimize be liable for indirect or consequential losses.
9. Notifications & Communication
- You consent to receive transactional, promotional, and service-related communications via SMS, email, and in-app notifications.
- For regulatory changes or significant updates, we will notify you via your registered communication channels.
10. Termination
- You may discontinue use at any time by deactivating your account.
- Optimize reserves the right to suspend or terminate services for fraudulent, illegal, or non-compliant activity.
11. Dispute Resolution
All disputes are subject to Indian law and the exclusive jurisdiction of the Bengaluru, Karnataka courts.
For any complaints, email us at support@optimize.com. We will resolve genuine consumer grievances within 21 days, per RBI guidelines.
12. Amendments
We may update these Terms periodically. Continued use of the Platform after updates constitutes acceptance of the new Terms.