This Fair Practices page describes the standards nanokred follows while facilitating digital lending services, communicating with customers, handling information, and supporting responsible repayment and grievance resolution.
nanokred is committed to transparent, respectful, and responsible customer treatment. These practices are intended to align with applicable laws, Reserve Bank of India directions, digital lending requirements, and the fair practices expectations followed by regulated lending partners.
1. Objective
The objective of this policy is to promote fairness, transparency, informed consent, and responsible conduct across the customer journey. It applies to interactions on the website, application, customer support channels, verification processes, loan facilitation workflows, service partners, and recovery-related communications where applicable.
2. Clear Communication
We aim to communicate with customers in a simple, clear, and understandable manner. Important information relating to loan offers, eligibility, documents, fees, interest, repayment schedule, penal charges, cooling-off period, grievance contacts, and lending partner details will be made available before a customer accepts a loan offer.
3. Transparent Loan Facilitation
nanokred may assist customers in applying for credit products offered by banks, NBFCs, or other financial institutions associated with the Platform. Approval, sanction, disbursal, repayment terms, interest rates, fees, charges, and credit decisions remain subject to the policies of the relevant lending partner and applicable regulatory requirements.
Customers are encouraged to carefully review all loan documents, key terms, repayment obligations, and charges before accepting any offer. nanokred does not guarantee approval, disbursal, a specific loan amount, or a specific interest rate.
4. Responsible Lending Support
We support responsible lending by collecting information required for eligibility checks, KYC, fraud prevention, credit assessment, and service delivery. Information provided by the customer may be verified directly or through authorized service providers, lending partners, credit bureaus, or other lawful sources.
Customers must provide accurate and current information. Any incorrect, incomplete, forged, or misleading information may result in rejection, suspension of service, cancellation of an offer, or other action permitted under applicable law and loan documents.
5. Customer Consent and Data Privacy
Personal information is collected and processed only for legitimate service purposes and in accordance with the Privacy Policy. Where required, customer consent is obtained before accessing, collecting, verifying, or sharing information with lending partners, service providers, payment partners, or other authorized entities.
We do not support unauthorized access, unnecessary collection, or misuse of customer data. Customers should review the Privacy Policy to understand the categories of data collected, purpose of collection, sharing practices, retention, deletion, and available rights.
6. Fair Treatment and Non-Discrimination
Customers will be treated respectfully and without discrimination on the basis of religion, caste, race, gender, marital status, age, disability, language, region, or any other protected characteristic. Eligibility and credit decisions are based on information, verification, credit assessment, lending partner policies, risk criteria, and applicable law.
7. Fees, Charges, and Repayment Information
Fees, charges, interest, penal charges, taxes, repayment dates, and other monetary obligations will be disclosed through applicable loan documents, sanction terms, rate terms, or partner communications. Customers should make repayments only through authorized channels and should preserve payment confirmations for their records.
8. Recovery and Collection Practices
Recovery-related communication, where applicable, must be lawful, professional, and respectful. Customers should not be subjected to intimidation, harassment, threats, abusive language, public shaming, or unauthorized disclosure of loan information. Recovery agents or representatives, if engaged by lending partners, are expected to follow applicable laws, regulatory directions, and partner-approved codes of conduct.
Customers facing repayment difficulty should contact the support or lending partner contact provided in their loan documents so that available options, if any, may be discussed through authorized channels.
9. Customer Responsibilities
Customers are expected to:
- Read and understand all loan documents before accepting an offer.
- Provide true, complete, and updated information during onboarding and verification.
- Use the Platform only for lawful purposes.
- Protect account credentials, OTPs, device access, and payment information.
- Make repayments on or before the due dates through authorized payment modes.
- Raise concerns promptly through official customer support or grievance channels.
10. Service Partners and Outsourcing
nanokred and its lending partners may work with service providers for technology, customer support, verification, payment processing, collections, analytics, or other operational requirements. Such partners are expected to handle customer information responsibly and only for the authorized purpose for which they are engaged.
11. Grievance Redressal
Customers may raise service concerns, complaints, repayment issues, data-related requests, or policy concerns through the contact details provided on the Platform or in their loan documents. We aim to acknowledge, review, and resolve complaints in a fair and timely manner, subject to the nature of the issue and involvement of the relevant lending partner or service provider.
For more details, customers may refer to the Grievance Policy available on the Platform.
12. Review and Updates
These fair practices may be reviewed and updated from time to time to reflect changes in applicable laws, RBI directions, business processes, lending partner requirements, customer protection standards, or internal policies. Updated practices will be made available on the Platform.
13. Contact Us
For assistance or questions regarding these Fair Practices, you may contact us at support@nanokred.com or call customer support at 08071717083 during business hours.