Fair Practice & Disclosure
Complete transparency in our lending practices and fee structure.
Fair Practice Code
CredFast is committed to fair and transparent lending practices. Our Fair Practice Code outlines our commitment to treating all customers with dignity and respect while ensuring complete transparency in our operations.
1. Loan Application Process
- All loan applications are processed fairly without discrimination
- Clear communication about eligibility criteria and required documents
- Transparent timeline for application processing and approval
- Prompt communication of application status and decisions
2. Interest Rates and Charges
Fee Structure
Interest Rate
1% to 40% per annum (varies based on loan tenure and risk assessment)
Processing Fee
Up to 2% of loan amount + applicable taxes
Late Payment Charges
₹500 per instance + 2% per month on overdue amount
Prepayment Charges
Nil for loans with tenure less than 1 year
3. Loan Agreement Terms
- All terms and conditions are clearly explained before loan disbursal
- Loan agreement is provided in English and local language (where applicable)
- No hidden charges or fees beyond those disclosed
- Right to cancel loan within cooling-off period as per regulations
4. Collection Practices
- Respectful and dignified collection practices
- No harassment or intimidation of borrowers or their families
- Collection calls only during reasonable hours (8 AM to 7 PM)
- Clear communication about overdue amounts and payment options
- Assistance for borrowers facing genuine financial difficulties
5. Privacy and Data Protection
- Strict confidentiality of customer information
- Data sharing only with authorized entities as per regulations
- Secure handling and storage of personal and financial data
- Customer consent for data usage beyond service provision
6. Grievance Redressal
- Accessible and responsive grievance redressal mechanism
- Timely acknowledgment and resolution of complaints
- Escalation process for unresolved issues
- Regular monitoring and improvement of service quality
Important Disclosures
Key information you should know before applying for a loan.
Regulatory Information
- RBI Registered Non-Banking Financial Company (NBFC)
- Certificate of Registration No: [To be updated]
- Regulated by Reserve Bank of India
Risk Factors
- Borrowing involves financial risk and responsibility
- Failure to repay may impact your credit score
- Additional charges may apply for late payments
- Loan approval is subject to credit assessment
Customer Rights
- Right to fair and transparent treatment
- Right to privacy and data protection
- Right to grievance redressal
- Right to approach RBI Ombudsman if unsatisfied
Contact Information
Customer Care: support@credfast.in
Grievances: grievance@credfast.in
Nodal Officer: nodal@sajaninternational.com
Phone: +91 98855 66038
Address: CredFast, B-Wing , Purva Summit, White field Road, Hitec city , Kondapur, Telangana- 500081