This Fair Practice Code has been adopted in line with the Reserve Bank of India’s guidelines for non-banking financial companies. Its purpose is to ensure transparency, fairness and ethical conduct in the personal loan products offered on the Rapidoo Loans platform. The Code is approved by the Board of Directors and applies to all products and channels currently in operation.
Objectives
1
Fair dealing
To ensure fairness and transparency in loan terms, fees and charges applied to every borrower.
2
Informed borrowing
To help customers understand what they are agreeing to before they accept an offer.
3
Long-term trust
To build ethical, sustainable relationships with customers rather than one-time transactions.
Products offered
- Short-tenure unsecured personal loans, including instant cash, medical, wedding, salary advance, festive and bill settlement loans.
Key commitments
- We deal with customers fairly, honestly and transparently at every stage of the loan lifecycle.
- We disclose product features, terms and conditions and all applicable charges before disbursal.
- We do not discriminate on the basis of gender, caste, religion or physical ability in assessing applications.
- We address complaints promptly and keep the customer informed of progress.
Application and processing
- Loan applications specify the information and documents required for customer identification and eligibility assessment.
- Customers receive an acknowledgement once an application is submitted.
- On approval, the sanction communication states the approved amount, tenure, interest rate, processing fee and penal charges in clear language.
- Borrowers are provided a copy of the loan agreement along with the repayment schedule.
- Where an application is declined, the customer is informed.
Interest and charges
Interest, processing fees and penal charges are determined in accordance with our Interest Rate Policy and RBI norms. All charges are disclosed in the Key Fact Statement (KFS) and the loan agreement, and are applied only after the customer’s acceptance. No charge is levied that has not been disclosed.
Disbursement and conduct
- Disbursal is made to the borrower’s verified bank account as per the terms of the sanction.
- Any change in loan terms, including charges, is communicated to the borrower in advance.
- Recovery is conducted lawfully and courteously, during reasonable hours. Harassment, intimidation and unauthorised contact are prohibited.
- Customer information is kept confidential and shared only as permitted by law or with the customer’s consent.
Grievance redressal
A customer who is dissatisfied with any aspect of our service may raise a complaint through the following channels:
Escalation: If a complaint is not resolved within 30 days, the customer may approach the RBI Ombudsman through the Reserve Bank’s complaint management system at
cms.rbi.org.in. Full details are available on our
Grievance Redressal page.
This policy is issued by Trivani Vinimay Private Limited (RBI Reg. No. B.05.05894), which operates the Rapidoo Loans platform. It is reviewed by the Board of Directors periodically and may be updated to reflect changes in regulation or business practice. For clarification, write to
info@rapidooloans.com or call
+91 9599006664.