Indialoans
Personal Loan Business Loan Small Amount Loan
Credit Score Blog
Free Credit Score Apply Now

Fair Practice Code

Fair Practice Code (FPC)

Introduction

This Fair Practice Code ("FPC") aims to provide all customers and borrowers with a clear understanding of the fair practices followed by IndiaLoans.net ("the Platform") while facilitating access to loan products offered by its partner RBI-regulated financial institutions, including Banks and Non-Banking Financial Companies (NBFCs).

IndiaLoans.net operates as a Digital Lending Platform / Lending Service Provider (LSP) and does not itself lend money unless specifically authorized under applicable laws. Loan products displayed on the Platform are offered by RBI-regulated lending partners, and all lending decisions are made solely by such regulated entities.

This Fair Practice Code has been prepared in accordance with:

  • Reserve Bank of India (RBI) Master Direction – Non-Banking Financial Company – Fair Practices Code.

  • RBI Guidelines on Digital Lending.

  • Applicable provisions of RBI circulars governing Lending Service Providers (LSPs).

Objective

The objective of this Fair Practice Code is to:

  • Promote fair, ethical, and transparent lending practices.

  • Ensure customers receive complete and accurate information before availing any financial product.

  • Maintain transparency regarding fees, interest rates, and loan terms.

  • Protect customer interests throughout the loan lifecycle.

  • Establish an efficient grievance redressal mechanism.

  • Ensure compliance with all applicable RBI guidelines and legal requirements.

Loan Applications and Processing

Loan applications submitted through IndiaLoans.net shall contain all material information required by lending partners for evaluating the application.

Before submission, customers shall be provided with information including, wherever applicable:

  • Loan amount

  • Interest rate (Annual Percentage Rate/APR)

  • Processing fees

  • Applicable taxes

  • Loan tenure

  • EMI amount

  • Repayment schedule

  • Other applicable charges

The Platform and its lending partners shall explain important loan terms in a language understood by the customer wherever required.

Submission of an application does not guarantee loan approval. Approval remains subject to the credit policies and risk assessment of the respective lending partner.

Loan Appraisal and Sanction

Upon approval by the lending partner, borrowers shall receive details regarding:

  • Sanctioned loan amount

  • Annual Percentage Rate (APR)

  • Interest rate

  • Loan tenure

  • EMI amount

  • Repayment schedule

  • Processing charges

  • Other applicable fees

  • Terms and conditions governing the loan

A copy of the loan agreement, sanction letter, Key Fact Statement (KFS), and all relevant documents shall be provided electronically before loan disbursement.

Any penal charges applicable for delayed repayment shall be clearly disclosed.

Loan Disbursement

Loan disbursement shall be carried out only after acceptance of the loan agreement by the borrower.

The lending partner shall communicate any changes relating to:

  • Interest rates

  • Charges

  • EMI schedule

  • Repayment dates

  • Other loan terms

Any such changes shall generally be applicable prospectively unless required otherwise under applicable laws or regulatory directions.

Cooling-Off / Look-Up Period

In accordance with RBI Digital Lending Guidelines, eligible borrowers may exit a digital loan during the cooling-off period by paying:

  • Principal amount borrowed; and

  • Proportionate Annual Percentage Rate (APR) for the period utilized.

No foreclosure penalty shall be charged during this period.

The applicable cooling-off period shall be determined by the lending partner in accordance with RBI regulations.

Interest Rates

Interest rates offered through IndiaLoans.net are determined solely by the respective lending partner after considering factors including:

  • Customer credit profile

  • Income and repayment capacity

  • Existing liabilities

  • Internal risk assessment

  • Market conditions

  • Cost of funds

  • Loan tenure

  • Nature of loan product

The applicable Annual Percentage Rate (APR) and all charges shall be disclosed before loan acceptance.

Changes in Terms and Conditions

Customers shall receive advance notice regarding any significant changes relating to:

  • Interest rates

  • Processing fees

  • Service charges

  • Repayment schedule

  • Other contractual terms

Changes shall become effective prospectively unless mandated otherwise by law or regulatory authorities.

Recall of Loan

Any decision regarding recall, acceleration, or recovery of the loan shall be governed by the terms of the loan agreement executed between the borrower and the lending partner.

Release of Securities

Where any security or collateral has been provided, the lending partner shall release such security upon repayment of all outstanding dues, subject to any lawful right of lien or set-off.

Customer Privacy and Confidentiality

IndiaLoans.net values customer privacy and shall maintain confidentiality of customer information.

Customer information shall only be collected, processed, stored, and shared:

  • With customer consent;

  • For loan processing;

  • For regulatory compliance;

  • As required by applicable law.

Personal information shall never be shared with unauthorized third parties.

Recovery Practices

IndiaLoans.net and its lending partners are committed to ethical recovery practices.

Recovery personnel shall:

  • Treat customers with dignity and respect.

  • Avoid harassment or intimidation.

  • Avoid contacting borrowers at inappropriate hours.

  • Refrain from using abusive language or coercive methods.

  • Follow RBI-prescribed recovery guidelines.

General Principles

IndiaLoans.net shall:

  • Conduct its business with fairness and integrity.

  • Provide transparent disclosures regarding all applicable charges.

  • Not interfere with the customer's affairs except as permitted under applicable agreements or law.

  • Ensure responsible lending practices through regulated lending partners.

  • Continuously improve customer service standards.

Grievance Redressal Mechanism

Customer satisfaction remains one of our highest priorities.

Customers may contact us for any queries, complaints, or grievances.

Level 1 – Customer Support

Email: help@indialoans.net

Website: https://indialoans.net

Level 2 – Grievance Officer

If the complaint is not resolved satisfactorily, customers may escalate the matter to the Grievance Redressal Officer.

Grievance Redressal Officer

IndiaLoans.net

Email: help@indialoans.net

If the complaint remains unresolved within 30 days, the customer may approach the concerned Regional Office of the Reserve Bank of India (RBI), subject to applicable RBI regulations.

Compliance with RBI Guidelines

IndiaLoans.net is committed to complying with all applicable RBI guidelines governing Digital Lending Platforms and Lending Service Providers.

The Platform regularly reviews its internal policies to ensure:

  • Transparency

  • Fair customer treatment

  • Responsible lending

  • Data privacy

  • Regulatory compliance

Disclaimer

IndiaLoans.net is a digital platform that facilitates access to loan products offered by RBI-regulated Banks and NBFCs. Approval, rejection, loan amount, interest rate, tenure, and other lending decisions are solely at the discretion of the respective lending partner based on their internal credit policies and applicable regulatory requirements.

Last Updated: July 2026