Fair Practices Code & Privacy Policy

1. Fair Practices Code (FPC)

Vashnavi Fintech Private Limited has formulated this Fair Practices Code (FPC) in consonance with guidelines issued by the Reserve Bank of India (RBI) for Digital Lending Entities and Financial Intermediaries. The primary objective is to promote good and fair lending practices by setting minimum operating standards.

• Key Fact Statement (KFS): Every applicant is provided a clear KFS detailing the annualized percentage rate (APR), total interest, processing fees, and all other charges before loan execution.
• Transparency in Communication: All loan sanction agreements, terms, and conditions are drafted in simple, intelligible English and regional languages.
• Cooling-Off / Look-Up Period: Borrowers are entitled to an explicit look-up period during which they can exit the loan without penalty by paying only the proportionate APR.

2. Interest Rate Model & Risk Gradation

Interest rates offered on personal, business, vehicle, gold, and mortgage loans range between 8.40% p.a. to 24.00% p.a. Rates are arrived at through an objective credit evaluation model considering:

• Credit bureau score (CIBIL / Experian / CRIF High Mark) and repayment track record.
• Stability and regularity of monthly income or business cashflow turnover.
• Existing loan obligations and Fixed Obligation to Income Ratio (FOIR).
• Value and marketability of collateral pledged (for Home Loans, LAP, and Gold Loans).

3. Data Privacy & Information Security Policy

We deeply respect your privacy and employ bank-grade 256-bit Secure Socket Layer (SSL) encryption to safeguard your sensitive identity, banking, and financial information:

• Explicit Consent: Personal data and credit bureau reports are fetched strictly following one-time consent from the borrower.
• Zero Telemarketing Data Sales: Vashnavi Fintech never sells, leases, or trades borrower contact information to third-party telemarketers or marketing agencies.
• Server Localization: All user records are stored strictly in sovereign data centers located within India in compliance with RBI directives.

4. Ethical Collections & Recovery Code

We are committed to humane, dignified, and strictly lawful debt collection practices:

• Borrowers will never be contacted before 08:00 AM or after 07:00 PM for payment reminders.
• Zero tolerance for verbal harassment, threat, intimidation, or public humiliation of any borrower or family member.
• Collection efforts are carried out only by certified loan recovery agents who adhere to our Code of Conduct.

5. Grievance Redressal Escalation Matrix

If you have any grievance or complaint regarding our loan services or fair practice code compliance, please follow our 3-tier escalation structure: