Terms & Conditions

2. Eligibility

You may use VerifyRate if you are:

• An adult (18 years or older) operating a legitimate business entity in India
• A proprietor, partner, director, or authorised representative of such an entity
• The holder of, or authorised to act on behalf of the holder of, the CC/OD facility being audited

Use of this service on behalf of a business entity you do not represent, or submission of forged or fabricated financial documents, constitutes a material breach of these terms.

3. Accuracy of inputs — your responsibility

The accuracy of your audit report is entirely dependent on the accuracy of the information you provide. You are responsible for:

• Entering the correct sanctioned interest rate as stated in your bank's sanction letter
• Uploading the correct account statement corresponding to the CC/OD facility you intend to audit
• Accurately identifying the facility type (Cash Credit or Overdraft)
• Selecting the correct lending bank

VerifyRate will not be liable for incorrect audit results arising from user input errors.

4. Limitations of the audit report

The audit report produced by VerifyRate is an independent mathematical calculation. It is not a certified financial document, a legal opinion, a banking authority ruling, or a formal dispute instrument.

• The report should be used as a starting point for your own inquiry with your bank. VerifyRate does not guarantee that your bank will accept, acknowledge, or act on the findings of this report.
• Interest calculations may vary due to factors not captured in the statement data, including internal rate change communication delays, product-specific compounding methodologies, or contractual terms in your individual sanction letter that differ from standard terms. VerifyRate applies standard RBI-prescribed CC/OD interest computation methodology.

5. No financial, legal, or banking advice

Nothing on this platform, in the audit report, or in any communication from VerifyRate constitutes:

• Financial advice or investment advice of any kind
• Legal advice or representation
• A recommendation to take any specific action against your bank
• An endorsement of any lender, financial product, or refinancing option

For formal dispute resolution, Banking Ombudsman filings, or legal proceedings, you must engage a qualified legal or financial professional.

6. Intellectual property

All content on this platform — including the audit methodology, report templates, interface design, copy, and underlying calculation logic — is the intellectual property of VerifyRate. You may not reproduce, resell, license, reverse-engineer, or commercially exploit any part of the service without written permission.

You retain full ownership of all documents and data you upload. By uploading, you grant VerifyRate a limited, one-time, non-transferable licence to process that data solely for the purpose of generating your audit report.

7. Prohibited uses

You agree not to use VerifyRate for any of the following:

• Submitting fabricated, forged, or tampered bank statements
• Submitting statements belonging to a business or individual you are not authorised to represent
• Automated scraping, bulk submissions, or programmatic access to the platform
• Any activity that violates applicable Indian law, including the Information Technology Act, 2000
• Reselling or commercially distributing audit reports generated on behalf of third parties without their knowledge

8. Limitation of liability

VerifyRate and its founders, operators, and associates shall not be held liable for:

• Any financial loss arising from reliance on the audit report without independent professional verification
• Any damage arising from incorrect input data provided by the user
• Any consequence of a dispute with a bank initiated on the basis of the audit report
• Service interruptions, processing delays, or temporary unavailability of the platform

To the maximum extent permitted by applicable law, VerifyRate's aggregate liability for any claim arising from use of this service shall not exceed the amount paid by you for that specific audit (which, during the free phase, is zero).

9. Service availability and modifications

VerifyRate is provided on an "as available" basis. We reserve the right to modify, suspend, or discontinue any part of the service at any time without prior notice. We will make reasonable efforts to communicate planned downtime.

We reserve the right to amend these Terms & Conditions at any time. The updated version will be posted on this page with a revised effective date. Continued use of the service after changes constitutes acceptance.

10. Governing law

These terms are governed by the laws of India. Any dispute arising from or relating to these terms or your use of VerifyRate shall be subject to the exclusive jurisdiction of the courts of India.