Fair Practice Code
Last updated: February 2025
Neodhan ("we", "us", "our") is committed to fair and transparent lending. This Fair Practice Code sets out our practices in dealing with borrowers and is aligned with RBI guidelines and industry best practices.
1. Applications and Processing
We provide clear information on loan products, eligibility, interest rates, fees, and tenure. Applications are processed in a non-discriminatory manner. We do not charge any processing fee or other charges without prior disclosure in writing.
2. Loan Agreement and Disbursal
Loan agreements are in plain language and set out all terms, including amount, rate, tenure, EMI, and charges. A copy of the agreement is provided to the borrower before disbursal. Disbursal is made as per the agreed terms and timelines, subject to verification and compliance.
3. Interest and Charges
Interest rates and other charges are disclosed upfront. We do not resort to unfair or coercive methods for recovery. Any change in interest rate or charges during the loan tenure is communicated in writing and as per the loan agreement.
4. Grievance Redressal
We have a dedicated grievance redressal mechanism. Borrowers may lodge complaints via email at Grievances@neodhan.com or call +91 92107 57300. We aim to acknowledge complaints promptly and resolve them within the timelines prescribed under applicable guidelines. Borrowers may also approach the RBI Sachet portal (https://sachet.rbi.org.in/) for escalation.
5. Confidentiality and Privacy
We treat borrower information as confidential and use it only for the purpose of lending and servicing, unless disclosure is required by law or with consent. Our Privacy Policy and Data Record Retention Policy provide further details.
6. Changes
We may update this Fair Practice Code from time to time. The updated version will be published on our website. For any queries, contact us at Grievances@neodhan.com or +91 92107 57300.