Fair Practices Code

Callmeloan, as a loan origination platform partnering with RBI-registered NBFCs and Banks, is committed to upholding the highest standards of fairness, transparency, and ethical conduct in all our dealings. This Fair Practices Code ("Code") sets out the principles and practices we follow to ensure that every customer is treated fairly and with respect.

This Code is aligned with the Fair Practices Code guidelines issued by the Reserve Bank of India for NBFCs and digital lending platforms. It governs our interactions with customers across the entire loan lifecycle — from application to disbursement, repayment, and beyond.

We ensure a transparent and efficient loan application process. Our key commitments include:

• Clear Communication: All loan terms, including interest rates, fees, charges, and repayment schedules, are clearly communicated before you submit your application.
• No Hidden Charges: There are no hidden fees or charges. All costs associated with the loan are disclosed upfront in the loan agreement.
• Acknowledgment: We acknowledge receipt of all loan applications within 24 hours and keep you informed of the status throughout the processing stage.
• Right to Reject: If an application is rejected, we provide the reasons for rejection and do not charge any processing fee for rejected applications.

Our approach to interest rates and charges is built on transparency and fairness:

• Upfront Disclosure: The applicable interest rate, Annual Percentage Rate (APR), processing fees, late payment charges, and any other applicable fees are displayed prominently before loan acceptance.
• Consent Required: Your explicit consent is obtained before any charges are applied. No fee is levied without your prior approval.
• Rate Determination: Interest rates are determined based on your credit profile, loan amount, tenure, and prevailing market conditions. The methodology is fair, consistent, and non-discriminatory.
• Revision Notification: Any revision in interest rates or charges is communicated to you in advance through registered contact details.

We follow a streamlined and transparent documentation process:

• Minimum Documentation: We only request documents that are necessary for KYC compliance and credit assessment as per regulatory requirements.
• Data Handling: All documents and personal information are handled in strict compliance with our Privacy Policy and applicable data protection laws.
• Document Return: Original documents, if any, submitted by customers are returned promptly once the processing is complete.
• One-Time Consent: Wherever possible, we obtain one-time consent for credit information reports to avoid repeated requests.

We ensure a smooth and timely loan disbursement process:

• Timely Processing: We strive to process complete applications within 24-48 hours and disburse approved loans at the earliest.
• Disbursement Confirmation: Once disbursed, you receive a confirmation with details of the loan amount, tenure, interest rate, and repayment schedule.
• Bank Transfer: All disbursements are made directly to your verified bank account through secure banking channels.
• Loan Agreement: A detailed loan agreement containing all terms and conditions is provided at the time of disbursement.

We offer flexible and transparent repayment options:

• Repayment Schedule: A clear repayment schedule with due dates and amounts is provided at the time of loan disbursement.
• Multiple Payment Modes: We accept repayments through various channels including UPI, auto-debit, net banking, and debit cards.
• Prepayment & Foreclosure: You may prepay or foreclose your loan at any time. Any applicable prepayment charges are disclosed upfront in the loan agreement.
• Late Payment: Late payment charges, if any, are clearly specified in the loan agreement and are reasonable and proportionate.

Protecting your personal and financial data is our top priority:

• Data Collection: We only collect data that is necessary for providing our services and as required by regulators.
• Data Security: All customer data is stored securely with 256-bit encryption and access controls as per industry best practices.
• No Unauthorised Sharing: We do not share your personal information with third parties without your explicit consent, except as required by law.
• Data Retention: Your data is retained only for as long as necessary and is securely disposed of when no longer required.

We adhere to a strict code of conduct in all our operations:

• Ethical Practices: We do not engage in any mis-selling, misleading advertising, or coercive practices.
• Recovery Practices: Our collection and recovery practices are fair, transparent, and compliant with RBI guidelines. We do not employ any harassment or intimidation tactics.
• Customer Confidentiality: All customer information is treated as confidential and is not disclosed to unauthorised parties.
• Non-Discrimination: We provide equal access to our services without discrimination based on caste, religion, gender, or any other grounds.
• Training: All our employees and partners are trained on fair practices and ethical conduct on an ongoing basis.

We have a robust grievance redressal mechanism to address any concerns or complaints you may have:

• Complaint Lodging: You can lodge a complaint through our website, email, or phone. All complaints are acknowledged within 48 hours.
• Resolution Timeline: We aim to resolve all complaints within 30 days from the date of receipt.
• Escalation: If you are not satisfied with the resolution, you may escalate the matter to our Nodal Officer for further review.
• Regulatory Authority: If the grievance remains unresolved, you may approach the RBI Ombudsman as per the RBI Ombudsman Scheme.

If you have any questions, concerns, or feedback regarding this Fair Practices Code or any aspect of our service, please reach out to us: