Terms and Conditions

Last updated: May 2025

Welcome to MyVCCircle. By accessing or using our mobile application or website, you agree to comply with and be bound by the following Terms and Conditions. Please read them carefully.

1. Eligibility

You must be at least 18 years old and legally competent to enter into binding contracts to use MyVCCircle. Users must provide accurate information and be verified by circle admins.

2. User Accounts & Verification

  • Users must register using valid details including phone number, email, and personal identification.
  • Circle admins are responsible for verifying the authenticity of users before adding them to a circle.
  • Users are responsible for maintaining the confidentiality of their account and activities.

3. Circle Creation and Participation

  • Users can either create a VC Circle or join an existing one.
  • Each circle has predefined rules such as duration, number of participants, monthly contribution amount, and bidding logic.
  • Once a user joins a circle, they are obligated to contribute on time every month.

4. Circle Admin Responsibility

  • Circle Admins are responsible for verifying the authenticity of users they invite or add to a circle.
  • Admins must ensure all users in their circle are genuine and trustworthy.
  • In case a user added by the admin fails to pay, the admin may be held responsible for resolving or adjusting the payout for that month.
  • Admins agree to manage communication, contribution tracking, and dispute resolution within their circles.
  • The platform may revoke admin privileges for negligence, fraud, or recurring user defaults.

5. Bidding and Payouts

  • Every month, members can place a bid to claim the pooled funds at a discount (interest).
  • The lowest bidder wins the pool amount, and the bid interest is distributed among other members.
  • Payouts are released only after confirming all contributions for that month are complete.
  • Once a user has won a bid, they cannot bid again in the same circle.

6. Payments and Subscriptions

  • Creating a circle may require a one-time fee. Additional features may be unlocked via Pro subscriptions.
  • Pro Plan (₹99/month) includes benefits such as unlimited circles, access to premium tools, AI features, and early bidding access.
  • Subscription fees are non-refundable once payment is confirmed.
  • All transactions are securely processed through authorized payment gateways.

7. AI-Powered Features

  • MyVCCircle includes AI tools such as bid prediction, trust scoring, spending analysis, and savings planning.
  • AI suggestions are informational and not professional financial advice.
  • User data may be anonymously processed to improve AI models.

8. Default and Dispute Resolution

  • Users are expected to pay their monthly contribution on or before the due date.
  • Defaults may lead to penalties, temporary suspension, or permanent removal from the circle or platform.
  • Disputes within circles should first be handled by the admin; unresolved issues can be escalated to platform support.

9. Fraud Prevention

  • Creating multiple fake accounts, manipulating bids, or attempting to exploit the system is strictly prohibited.
  • The platform reserves the right to take legal action and block any users engaging in fraudulent activity.

10. Data Privacy and Security

Your data is encrypted and securely stored. Personal data is never sold or shared without consent. You can read our separate Privacy Policy for more information on how your data is handled.

11. Termination

We may suspend or terminate your account at any time without notice if you breach any part of these Terms. Users who consistently default, manipulate the system, or engage in harassment will be permanently banned.

12. Limitation of Liability

MyVCCircle is a technology platform that facilitates group savings and bidding. We are not a bank or NBFC. We are not liable for losses due to user defaults, misuse of funds, or failed transactions resulting from incorrect data entry or third-party service failures.

13. Modifications

These terms may be updated periodically. Continued use of the app after changes implies your acceptance of the new terms.

14. Contact

If you have questions or concerns about these terms, please reach out:

  • 📧 Email: support@myvccircle.com
  • 🌐 Website: www.myvccircle.com