privacy policy
1. Purpose
This policy outlines the terms, conditions, and security practices governing the use of the Richmax Mobile Payment Application, which enables users to make digital payments related to loans and other financial services.
2. Scope
This policy applies to all users of the mobile payment app, including customers, authorized users.
3. Payment Services
Make loan-related payments (interest, part payment,) Pay through, net banking, debit cards, or credit card (as applicable) View transaction history and payment status
4. User Authentication
Access to the app is secured through OTP, PIN, or biometric authentication. Users are responsible for maintaining the confidentiality of their login credentials
5. Data Privacy & Security
All payment transactions are encrypted and processed through secure channels
Personal and financial data are stored securely and accessed only by authorized personnel
The app complies with applicable data protection and IT security regulations
6. Transaction Responsibility
Users must ensure sufficient balance and correct payment details before initiating transactions Richmax Finvest Pvt Ltd is not responsible for failed transactions due to bank/network issues Refunds, if applicable, will be processed as per defined timelines
7. Charges & Fees
Applicable transaction charges, if any, will be clearly displayed before payment confirmation
No hidden charges will be levied
8. Compliance
The mobile payment app complies with RBI guidelines, IT Act, 2000, and other applicable laws
All transactions are subject to audit and regulatory review
9. User Obligations
Users agree:
Not to misuse the app for unlawful activities.
To provide accurate payment and personal information
To comply with app terms and regulatory requirements
11. Policy Updates
This policy may be updated periodically. Continued use of the app constitutes acceptance of the revised policy.
12. Contact Information
For payment-related queries or support, please contact:
Email : pradeep@richmaxgroup.com
Phone : 9778418214
Financial Features
1. App Feature
Easy Payment: Customers can pay their gold loan easily using credit, debit card, or net banking.
Account View: Customers can view their gold loan balance, due amount, and loan details anytime.
Partial Payment: Customers can pay a part of their loan amount as per their convenience.
Viable Payment Option: Customers can choose flexible payment options like interest-only or part payment.
Digital Receipt: Customers receive an instant digital receipt after every payment.
2. Support Service
- 24×7 Services: Customers can make gold loan repayments anytime, day or night, without visiting the branch.
- Convenient Time: The app allows customers to pay at a time that is comfortable for them, avoiding visiting the branch.
- Notifications: Customers receive timely alerts for due dates, successful payments, and outstanding balances.
- Online Customer Support: Customers can get help through in-app chat or call support for payment or account-related issues.
3) Short description & Full description
- App Name: Richmax Customer App
- Short description: Enjoy , quick, secure, and easy gold loan repayment from your convenience.
- Full description: - Gold Loan repayment range: Keeping a minimum balance of Rs.100/-in the account, customer can make repayments without visiting the branch.
- Loan Tenure:180 - 365 days
- Annual Interest Rates: 12% p.a. to 28% p.a.
- Processing Fee (Min to Max): 25-100
- Foreclosure Fee: Nil
Representative Example for Gold Loan repayment from Home/office : A customer from Mumbai can avail a super easy gold loan of Rs.1,00,000/-with an interest rate of 18 % per annum for a tenure of 180 days by visiting directly his/her home branch. If the customer pays only the interest every 30 days , then overall calculated interest payable would be Rs.1500/month. A processing fee charged could be in the range of 25 to 100 rupees depending on the quantum of loan amount and the amount of this loan would be Rs.50. If the customer desires to pay only at the time of maturity of loan,then the interest rate would be jumped to higher slab, which may be 28% and he/she has to pay Rs.1,28,050/-(Principal+Interest+Processing fee). The customers get the convenience to pay the principal balance anytime within 180 days of tenure subject to keeping a minimum balance of Rs.100/- in his/her account.Customers can pay the full interest along with principal towards their loan account without visiting the branch in person provided that maintaining the minimum amount criteria.