Terms & Conditions of Use

1. Nature of the Service

LoanWise is an educational financial planning tool developed for demonstrative calculation purposes. All figures generated—including monthly Equated Monthly Instalments (EMIs), interest totals, and amortization schedules—are based on standard mathematical reduction algorithms and must not be construed as legally binding commercial loan commitments or official credit approval from any financial institution.

2. Bank Benchmark Interest Rates

Interest rates displayed on LoanWise reflect official publicly accessible retail benchmark circulars (EBLR/RLLR) published by Indian commercial banks (such as SBI, HDFC Bank, ICICI Bank, Bank of Baroda). These rates are indicative starting figures and vary depending on an individual applicant’s credit score, loan amount, employer categorization, and specific underwriting parameters.

3. Limitation of Liability

The developers and operators of LoanWise assume no liability for personal financial decisions or borrowing commitments entered into based on calculations performed within this software. Users are urged to verify current loan covenants directly with respective bank branch officers.

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