Z Credit Product Loan Terms and Conditions

These Product Loan Terms and Conditions (“Terms”) govern your use of Z Credit’s loan services (“Loan” or “Product Loan”) for purchasing goods or products. By applying for and accepting a Product Loan with Z Credit, you agree to these Terms and any other agreements provided as part of the loan application process.

1. Eligibility

1.1 You must be at least 18 years old to apply for a Product Loan with Z Credit.
1.2 You must provide valid identification, proof of income, and other documents as required by Z Credit to verify eligibility.
1.3 Approval for the Product Loan is subject to Z Credit’s assessment of your application, credit history, and other factors.

2. Loan Approval and Disbursement

2.1 Upon approval, Z Credit will disburse the loan amount directly to the vendor for the product(s) you are purchasing.
2.2 Z Credit reserves the right to approve or reject applications based on creditworthiness and other criteria without obligation to disclose reasons.

3. Loan Repayment

3.1 Loan repayment terms, including interest rates, installment schedules, and payment dates, will be clearly stated in the loan agreement.
3.2 Payments must be made on or before the due date stated in the repayment schedule.
3.3 Late payments may incur additional charges as outlined in the loan agreement.
3.4 You may prepay the loan in full or in part without penalty, subject to any specific conditions mentioned in the loan agreement.

4. Interest and Fees

4.1 Interest on the Product Loan will accrue at the rate specified in your loan agreement, which may vary depending on the loan term and your credit profile.
4.2 Z Credit may charge fees for late payments, missed payments, processing, or other services, as specified in the loan agreement.

5. Default and Collection

5.1 Failure to make payments as agreed may result in the loan being deemed in default, with Z Credit reserving the right to initiate collection efforts.
5.2 In the event of default, Z Credit may employ third-party collection agencies or take legal action to recover the loan amount, with you being responsible for any additional costs incurred.

6. Right to Amend Terms

6.1 Z Credit reserves the right to modify or amend these Terms at any time. Any changes will be communicated to you via email or posted on our website.
6.2 Continued use of Z Credit services after any changes to the Terms constitutes acceptance of the updated Terms.

7. Privacy and Data Protection

7.1 Z Credit will collect and process personal information in compliance with the Data Privacy Act of 2012 and our Privacy Notice.
7.2 By applying for a Product Loan, you consent to the processing of your data as necessary for credit assessment, loan servicing, and other legitimate business purposes.

8. Governing Law

8.1 These Terms are governed by the laws of the Philippines.
8.2 Any disputes arising from or in connection with the Product Loan will be resolved in accordance with Philippine law and in the appropriate courts of jurisdiction.

9. Limitation of Liability

9.1 Z Credit will not be liable for indirect, special, or consequential damages arising from or related to the Product Loan.
9.2 Z Credit is not responsible for any issues related to the product(s) purchased with the loan amount; the buyer must resolve product-related concerns with the vendor.