1. Objective
This Fair Practices Code ('Code') sets out the principles adopted by the Company to ensure fair, transparent and responsible dealings with customers throughout the lending lifecycle. The Company shall conduct its operations in accordance with applicable laws and regulatory requirements and shall endeavour to uphold the highest standards of integrity, transparency and customer service.
2. Scope
This Code applies to all loan products and services offered by the Company and shall govern interactions with customers from loan application until closure of the loan account.
3. Fair and Transparent Dealings
The Company shall deal with customers honestly, fairly and courteously. All material information relating to loan products, eligibility, interest rates/APR, fees, charges, repayment obligations and other applicable terms shall be disclosed in a clear and understandable manner.
4. Loan Application and Assessment
Loan applications shall be processed based on applicable eligibility criteria, repayment capacity, credit assessment, risk policies and other lawful considerations. The Company may request documents and information reasonably necessary for processing the application.
5. Loan Sanction and Terms
Prior to disbursement, customers shall be provided with the applicable loan terms including the sanctioned amount, tenure, repayment schedule, applicable interest/APR, fees, charges and penal charges, where applicable.
6. Interest Rates and Charges
The Company shall maintain transparency regarding interest rates and all applicable charges. No undisclosed charges shall be levied. Any revision, where applicable, shall be communicated in accordance with law.
7. Disbursement and Repayment
Loans shall be disbursed after fulfilment of applicable conditions. Customers shall repay their obligations in accordance with the agreed repayment schedule.
8. Customer Information
The Company shall maintain the confidentiality of customer information and process personal data only for lawful purposes and in accordance with applicable privacy and data protection laws.
9. Collection and Recovery
Recovery activities shall be conducted lawfully, ethically and respectfully. The Company shall not tolerate harassment, intimidation, abusive language or unfair collection practices, also company will only establish contact with the customers between 08:00 AM to 07:00 PM.
10. Customer Communication
The Company shall communicate with customers through appropriate channels regarding important updates, repayment reminders and material changes affecting the loan.
11. Grievance Redressal
Customers may submit complaints through the contact details published on the Company's website. Complaints shall be acknowledged and resolved within reasonable timelines in accordance with applicable regulations.
12. Customer Rights
Customers are entitled to receive clear information, fair treatment, confidentiality of their information, timely responses to queries and access to an effective grievance redressal mechanism.
13. Review
This Code may be reviewed, amended or updated from time to time to reflect changes in applicable laws, regulatory requirements or business practices.
Contact Details
Grievance Redressal Officer: Mr. Ravi Tripathi
Email: grievance@nanokred.com
Business Hours: 10:00 AM- 06:00 PM