Credila Financial Services Private Limited (Credila) to make all Credila’s financial products available to all eligible qualified applicants, without discrimination on the basis of race, caste, color, religion, sex, marital status, age or handicap. Credila’s policy is to treat all the customers fairly. Credila will also communicate its Fair Practices Code (FPC) to its customers by making the FPC available to everybody on its website.

Credila will ensure that the implementation of the FPC is the responsibility of the entire organization. Credila’s fair lending practices shall apply across all aspects of its operations including marketing, loan origination, processing, servicing and collection activities.

Credila’s Board of Directors and the management team are responsible for implementing the fair practices hereinafter detailed. The Board of Directors will also have a periodical review of the compliance of the Fair Practices Code and the functioning of the grievances redressal mechanism at various levels of management. A report of such reviews may be submitted to the Board at periodic intervals.

1. Applications For Loans & Loan Application Processing
2. Loan Appraisal & Terms/Conditions
3. Disbursement Of Loans Including Changes In Terms & Conditions
4. General
5. Grievance Redressal Mechanism
6. Force Majeure

1. Credila’s loan application forms will include necessary information which affects the interest of the borrower, so that a meaningful comparison with the terms and conditions offered by other NBFCs can be made and informed decision can be taken by the borrower. The loan application form will also indicate the documents required to be submitted with the application form.
2. Credila will provide appropriate acknowledgement for receipt of signed loan applications in paper format. The time frame within which loan applications will be disposed of will also be indicated in the acknowledgement.

1. Credila will give notice to the borrower of any change in the terms and conditions including disbursement schedule, interest rates, service charges, prepayment charges etc. Credila will also ensure that changes in interest rates and charges are effected only prospectively. A suitable condition in this regard should be incorporated in the loan agreement.
2. Decision to recall / accelerate payment or performance under the agreement should be in consonance with the loan agreement.
3. Credila will release all securities on repayment of all dues or on realization of the outstanding amount of loan subject to any legitimate right or lien for any other claim Credila may have against borrower. If such right of set off is to be exercised, the borrower shall be given notice about the same with full particulars about the remaining claims and the conditions under which Credila is entitled to retain the securities till the relevant claim is settled/paid.

1. Credila will refrain from interference in the affairs of the borrower except for the purposes provided in the terms and conditions of the loan agreement (unless new information, not earlier disclosed by the borrower, has come to the notice of the lender).
2. In case of receipt of request from the borrower for transfer of borrowal account, the consent or otherwise i.e. objection of the Credila, if any, will be conveyed within 21 days from the date of receipt of request. Such transfer shall be as per transparent contractual terms in consonance with law.
3. In the matter of recovery of loans, Credila will not resort to undue harassment viz. persistently bothering the borrowers at odd hours, use of muscle power for recovery of loans, etc.
   

1. Credila will guide customers who wish to lodge a complaint and also provide guidance on what to do in case the customer is unhappy with the outcome.
2. After examining the matter, Credila will send a response as soon as possible; Credila will also guide a customer on how to take the complaint further if the customer is not satisfied.