These Terms and Conditions (“Terms”) are an electronic record under the Information Technology Act, 2000 and the rules made under it. They are generated by a computer system and do not require a physical or digital signature.

Who we are and what these Terms cover

1. The Finspring mobile application and website (the “Platform”) are owned and operated by Finspring Innovations Private Limited (CIN U62099KA2024PTC195770), a company incorporated under the Companies Act, 2013, with its registered office at WeWork Embassy Tech Village, Block L, Outer Ring Road, Bengaluru – 560103, Karnataka, India (“Finspring”, “we”, “us”).
2. The Platform lets you discover, compare and invest in financial products such as mutual funds, bonds, fixed deposits and digital gold (“Products”). Products are issued, held or provided by banks, NBFCs, asset management companies, online bond platform providers, bullion providers and similar regulated or licensed entities (“Product Partners”). Finspring provides the technology and distribution layer only.
3. These Terms apply to Finspring’s own app and website. If you reach a Product through another company’s app (a platform that has integrated Finspring’s technology), that company’s terms also apply to you, and Finspring acts only as its technology and distribution provider.
4. By creating an account or using the Platform you agree to these Terms, our Privacy Policy, and any product-specific terms shown to you (together, the “Agreement”). If you do not agree, please do not use the Platform.
5. If a Product Partner’s terms conflict with these Terms about that Product, the Product Partner’s terms prevail for that Product.

What Finspring is, and is not

6. Finspring is a technology-driven distribution and referral platform. Finspring is not a bank, an NBFC, a stock broker, an online bond platform provider, a research analyst or an investment adviser. Finspring does not issue, manage, guarantee or underwrite any Product.
7. We do not hold your money. Payments for a Product are made by you, through a payment gateway on the Platform, directly to the relevant Product Partner. Finspring does not receive, hold or control your funds and is not a payment aggregator.
8. Each Product Partner is solely responsible for its Product, including its performance, settlement, custody, servicing and regulatory compliance.
9. Information on the Platform is for general information. It is not investment, tax or legal advice, and it is not a recommendation that a Product suits you. Please read the offer documents and decide for yourself, or consult a qualified adviser.

Eligibility and account

10. To use the Platform you must be at least 18 years old, resident in India (unless a Product expressly permits otherwise), legally capable of entering into a contract, and able to complete the KYC that the Product requires.
11. Give us accurate and current information and keep it updated. Keep your login details and OTPs confidential, and tell us immediately if you suspect unauthorised use. You are responsible for activity under your account.
12. Finspring will never ask you for your OTP, PIN or password, or ask you to pay money into a personal account. Please do not share these with anyone, including anyone who claims to be from Finspring.
13. Finspring or a Product Partner may decline or restrict an account or transaction where required by law, by a Product Partner’s policy, or where fraud is suspected.
14. You are responsible for your own tax obligations arising from the Products you buy.

Product-specific terms

15. Mutual funds

    1. Finspring distributes mutual funds as an AMFI-registered mutual fund distributor (ARN 366667).
    2. Mutual fund investments are subject to market risks. Please read all scheme-related documents carefully. Past performance is not an indicator of future performance.
    3. Regular plans pay a distribution commission to Finspring out of the scheme’s expense ratio. This does not add any separate charge to you. Commission details are available on request.
    4. Any information we show about schemes is incidental to distribution and is not investment advice.

16. Bonds

    Important: Finspring is not an Online Bond Platform Provider (“OBPP”) and neither does it offer any investment advice nor execute any transactions. This arrangement is purely for the purpose of introducing users to regulated fixed income products and Grip Broking Private Limited, a SEBI-registered OBPP. All investment decisions shall be made solely by the user on Grip’s platform. The user shall read the terms and conditions, disclaimers, and other relevant information relating to the products available on Grip’s website (https://www.gripinvest.in/) before making any investment decision. For more information on the products available on Grip’s platform, please refer to the blogs (https://www.gripinvest.in/blog) and videos (https://www.gripinvest.in/academy).

    1. You complete KYC and place every order directly on the OBPP’s platform, and its terms apply. The OBPP decides whether you may invest. Contract notes and statements are sent to you by the OBPP, and the OBPP may contact you directly about your account.
    2. Bonds carry credit, interest-rate and liquidity risk, including the risk of default. They are not guaranteed or insured by Finspring, the OBPP, SEBI or the Government.

17. Fixed deposits

    1. Fixed deposits are booked through our technology partner, which is the business correspondent of the partner bank or NBFC (Finspring acts as its sub-agent and digital distribution channel), and are placed with that bank or NBFC, not with Finspring. Finspring does not accept deposits or guarantee any deposit, interest or repayment.
    2. Deposits with scheduled commercial banks are insured by DICGC up to ₹5,00,000 per depositor per bank (principal and interest together). Deposits with NBFCs are not covered by DICGC insurance.
    3. KYC (including video KYC) is completed with the bank or NBFC. If a booking is not completed, the amount is refunded by the bank or NBFC to the account it came from.
    4. Withdrawal, renewal and nomination are governed by the bank’s or NBFC’s terms. Finspring does not process withdrawals and is not responsible for the bank’s or NBFC’s timelines or decisions.

18. Digital gold

    1. Digital gold is gold that you buy from our bullion partner, Augmont Goldtech Private Limited (“Augmont” or the “Bullion Partner”), through the Platform. You open a gold account with the Bullion Partner using the Platform, and its customer terms (Schedule A) apply. The Bullion Partner, together with an independent trustee, holds the gold in custody in a vault and insures it. Finspring does not hold, store or guarantee the gold.
    2. Digital gold is not a security, deposit or mutual fund unit, is not insured by DICGC and is not regulated as such by SEBI or RBI. The regulatory position may change.
    3. We may restrict or discontinue digital gold on the Platform where required by law, a regulator or our Bullion Partner. Where practicable, we will tell you in advance and help you with options such as redemption or sale back.
    4. Rates, charges and taxes are shown at the time of the transaction.

KYC and verification

19. KYC is needed before you transact, and how it is done depends on the Product:
    1. Bonds: completed on the OBPP’s platform.
    2. Fixed deposits: completed with the partner bank or NBFC (including video KYC).
    3. Digital gold: completed on the Bullion Partner’s platform.
    4. Mutual funds: KYC and payment are handled through our mutual fund transaction-infrastructure partner and the KYC registration agency, as required.
20. Transactions may be declined or restricted if KYC or PAN requirements are not met.

Fees

21. Any platform or convenience fee charged by Finspring is shown to you before you confirm a transaction and is separate from the Product Partner’s charges. Fees are exclusive of applicable taxes.
22. We may change our fees with reasonable notice on the Platform. A change does not affect a transaction you have already confirmed.
23. We earn commission, referral fees or service charges from Product Partners for Products you buy through the Platform. Any charge that you pay is shown to you before you confirm.

Payments, refunds and cancellations

24. Payments are settled to the Product Partner’s account through a payment gateway provided or approved by the Product Partner. Once a Product Partner confirms a purchase or redemption, it generally cannot be cancelled. Cancellations, failed-payment reversals, refunds and chargebacks follow the Product Partner’s (or its payment provider’s) policy and timelines.
25. If a payment fails or a booking is not completed, we will help you coordinate the refund. The refund itself is made by the relevant Product Partner or payment provider.

Using the Platform

26. You agree not to:
    1. give false or misleading information, including for KYC;
    2. use the Platform for anything unlawful, including money laundering or terror financing;
    3. scrape, reverse engineer, copy or interfere with the Platform, or bypass its security;
    4. impersonate another person or misrepresent your connection to anyone; or
    5. upload or share content that is unlawful, infringing, defamatory, obscene or otherwise prohibited under the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021.
27. We may remove content or disable access to the Platform where the law requires or where these Terms are breached.

Intellectual property

28. The Platform, its software, design, content and the “Finspring” name and logo belong to Finspring or its licensors. We give you a limited, personal, non-transferable, revocable licence to use the Platform for its intended purpose. Product Partners’ names and logos belong to them and are shown with permission.

Communications

29. By registering, you agree to receive service and transactional messages about your account and transactions from us and from our Product Partners (including by SMS, email, WhatsApp, push notification or call). Product Partners may also contact you directly about your account or transactions.
30. We may also tell you about other Products and features on the Platform. You can manage your preferences in the Platform settings or opt out of promotional messages at any time.

Third-party platforms and links

31. For some Products you will be taken to a Product Partner’s own site or app. That platform’s terms and privacy policy apply to your use of it. We are not responsible for third-party content or services beyond our reasonable control.

Disclaimers and limitation of liability

32. The Platform is provided on an “as is” and “as available” basis. We do not promise that it will be uninterrupted or error-free.
33. All investments carry risk, including loss of principal. Finspring does not guarantee any Product’s performance, returns, liquidity or safety.
34. To the extent permitted by law, Finspring will not be liable for indirect, incidental, special or consequential loss. Finspring’s total liability to you under the Agreement will not exceed the greater of (a) the fees you paid to Finspring in the 12 months before the claim and (b) ₹5,000.
35. Nothing in these Terms excludes liability for fraud, wilful misconduct, or anything that cannot be excluded by law.

Indemnity

36. You will compensate Finspring for loss and reasonable costs arising from your breach of the Agreement, your provision of false information, or your violation of law.

Suspension, termination and closing your account

37. We may suspend or end your access if you breach the Agreement, give false information, or where required by law or a Product Partner’s instruction. Where reasonable, we will tell you why.
38. You can close your account at any time through the Platform, subject to completing pending transactions. Existing investments remain with the relevant Product Partner and are not affected by closing your Platform account.
39. If you die, your nominee or legal heir may contact us. The transmission of any investment is governed by the relevant Product Partner’s rules.
40. Clauses that by their nature should continue (intellectual property, disclaimers, liability, indemnity, governing law) continue after termination.

Grievances

41. • Grievance Officer: Krishna Gopal Goswami (Director)
    • Email: [email protected]
    • Address: WeWork Embassy Tech Village, Block L, Outer Ring Road, Bengaluru – 560103, Karnataka, India.
42. Finspring is your first point of contact for any complaint about the Platform or a Product bought through it. We will acknowledge your complaint within 24 hours. We will resolve complaints about the Platform ourselves, generally within 15 days. For a complaint about a Product, we will log it, pass it to the relevant Product Partner, which will handle it, and keep you updated until closure. Resolution timelines for product-specific matters are those of the Product Partner or the applicable regulation.
43. If you are not satisfied, you may use the Product Partner’s grievance channel and, where applicable, SEBI SCORES (for securities and mutual funds) or the RBI Complaint Management System and Integrated Ombudsman Scheme (for banks and NBFCs).

Changes to these Terms

44. We may update these Terms. For material changes we will give notice through the Platform, email or SMS at least 7 days before they take effect. If you continue to use the Platform after that, you accept the updated Terms. If you do not agree, you may close your account.

Governing law and disputes

45. Indian law governs these Terms. Please first contact our Grievance Officers so we can try to resolve the matter.
46. The courts at Bengaluru, Karnataka have exclusive jurisdiction, without affecting any right you have under consumer protection law.

General

47. Severability: if a provision is unenforceable, the rest continues.
48. No waiver: a delay in enforcing a right is not a waiver.
49. Assignment: you may not assign your rights; Finspring may assign to an affiliate or successor.
50. Relationship: nothing creates a partnership, agency or employment relationship.
51. Entire agreement: the Agreement is the whole agreement between you and Finspring about the Platform.
52. Force majeure: we are not liable for delay or failure caused by events beyond our reasonable control.
53. Notices: to Finspring at [email protected] or the registered office; to you through the Platform, email or SMS.

Schedule A – Digital Gold Customer Terms

These terms apply to digital gold in addition to the Terms above. You accept them each time you buy, redeem or sell back digital gold.

1. Account and eligibility. You may buy only if you are a resident of India and have completed KYC. A valid PAN is needed where the law or the Bullion Partner requires it.
2. Buying. The minimum purchase amount and the multiples allowed are shown on the Platform. You buy at the live purchase rate shown on the Platform. Charges and taxes are shown before you pay. The sale is made by the Bullion Partner to you, and Finspring only provides the Platform through which you buy.
3. No cancellation after confirmation. Once the Bullion Partner sends the sale confirmation, the order cannot be cancelled, revoked or suspended.
4. Ownership and custody. Title to the gold passes to you at the time of sale confirmation. The Bullion Partner and an independent trustee hold it for you in custody, insured, and have represented that they will not lend, sell or use it for their own benefit.
5. Selling back. You may sell back after 48 hours from purchase, at the live sell-back rate. Proceeds are credited to your bank account within the time shown on the Platform after confirmation. Ownership passes back to the Bullion Partner at confirmation.
6. Redemption and delivery. You may redeem gold as coins or other products of 0.1 gram or more by paying the charges and taxes shown. Delivery is by the Bullion Partner through its courier at the address you provide. Returns after delivery are not available. Gold below 0.1 gram can only be sold back.
7. Delivery complaints. Please report any issue with the quantity, make or quality of a delivered product within 7 days of delivery. Later complaints may not be accepted, except in special cases the Bullion Partner approves.
8. Rates and discontinuation. Rates are set by the Bullion Partner. If rates are unavailable because of a technical failure, we will tell you. We may suspend or end digital gold as set out in clause 4.4.
9. Support. Queries and complaints go to Finspring (see clause 15), and we will pass them to the Bullion Partner and keep you updated until closure.