1. Objectives
• Promote fair and transparent digital lending.
• Ensure borrowers are fully informed of loan terms.
• Implement ethical recovery practices.
• Provide grievance redressal mechanisms.
2. Loan Applications
• Borrowers will receive a Key Fact Statement (KFS) detailing loan amount, tenure, APR, charges, and repayment schedule.
• Loan decisions (approval/rejection) will be communicated promptly.
3. Transparency
• No hidden charges.
• All costs (interest, processing, penalties) disclosed upfront.
• Digitally signed loan agreement provided before disbursement.
4. Loan Disbursement & Repayment
• Disbursement only from Paisa108’s bank account to borrower’s bank account.
• No handling of borrower funds by third parties.
• Prepayment/foreclosure allowed without excessive penalty.
5. Data Protection
• Borrower data handled per Privacy Policy and RBI guidelines.
• No sharing without consent.
6. Collection & Recovery
• No harassment or coercion.
• Recovery calls only between 8:00 AM – 7:00 PM.
• No abusive language, threats, or undue pressure.
• Borrowers get a grace period before legal action.
7. Grievance Redressal
• Level 2: Grievance Redressal Officer – [Mr. Vivek Agarwalla, grievance@paisa108.com]
• RBI Ombudsman
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