Terms of Service

1. Introduction

Welcome to Y1 Money, a product of SKATE LAB PRIVATE LIMITED (CIN: U74999BR2016PTC032790). By downloading, accessing, or using the Y1 Money application ("App"), you agree to be bound by these Terms of Service ("Terms"). If you do not agree, please do not use the App.

2. About Y1 Money

Y1 Money is a financial technology platform that enables users to invest in fixed deposits (FDs), recurring deposits (RDs), and digital gold & silver through our partner banks and financial institutions. We are not a bank, NBFC, or financial institution. We act as a technology intermediary connecting you with our RBI-regulated partner banks.

3. Eligibility

To use Y1 Money, you must be at least 18 years of age and a resident of India. You must have a valid PAN card, Aadhaar, and a bank account linked to your mobile number.

4. Account & KYC

You are required to complete the Know Your Customer (KYC) verification process as mandated by our partner banks and applicable regulations. You are responsible for maintaining the confidentiality of your account credentials and for all activities under your account.

5. Investments

All investments made through Y1 Money are directly with our partner banks and institutions. Your money is deposited directly with the respective bank — Y1 Money does not hold, pool, or manage your funds at any point. Investment returns, interest rates, and maturity terms are determined by the respective bank or institution.

6. DICGC Insurance

Bank deposits made through Y1 Money are insured up to ₹5,00,000 per depositor per bank by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India (RBI), subject to DICGC's terms and conditions.

7. Gold & Silver Investments

Digital gold and silver investments are facilitated through our partner Augmont Gold. Your assets are stored in secured vaults and can be withdrawn or redeemed as per Augmont's terms and conditions. Y1 Money acts solely as a technology intermediary for these transactions.

8. Fees & Charges

Y1 Money does not charge any fees for booking FDs or RDs. Any applicable charges, penalties for premature withdrawal, or other bank-specific fees are determined by the respective partner bank and will be communicated to you at the time of investment.

9. Intellectual Property

All content, design, trademarks, logos, and intellectual property on the Y1 Money App and website are owned by Skate Lab Private Limited. You may not reproduce, distribute, or create derivative works without our written consent.

10. Limitation of Liability

Y1 Money provides the platform on an "as-is" basis. We are not liable for any losses arising from investment decisions, bank defaults (beyond DICGC coverage), technical failures, or unauthorized access to your account. We do not guarantee any specific returns on investments.

11. Termination

We reserve the right to suspend or terminate your access to Y1 Money at any time for violation of these Terms, fraudulent activity, or regulatory requirements. Your existing investments with partner banks will remain unaffected.

12. Governing Law

These Terms are governed by the laws of India. Any disputes shall be subject to the exclusive jurisdiction of courts in Patna, Bihar.

13. Changes to Terms

We may update these Terms from time to time. Continued use of the App after changes constitutes acceptance of the updated Terms. We will notify you of material changes via the App or email.

14. Contact

For questions about these Terms, contact us at:

Skate Lab Private Limited
Email: support@y1card.com
CIN: U74999BR2016PTC032790