Customer Acceptance Policy

The Company will follow the guidelines as mentioned below while granting any loan to the customers:

1. A loan will be sanctioned only to those customers who have appliedto the Company through a formal application which is provided to them by the Company.
2. No loan shall be given to any fictitious/benami customer.
3. Not to give a loan to any applicant or close any existing loan (only credits allowed) where the Company is unable to apply appropriate customer due diligence measures i.e. the Company is unable to verify the identity and/or obtain documents required as per the risk categorisation due to the non-cooperation of the applicant/customer or non-reliability of the data/information furnished by such applicant/customer. Company shall apply CDD measures for all co-applicants/co-borrowers.
4. Address proof will be obtained from all applicants prior to granting a loan. The documents which can be accepted as proof of residence are mentioned in Annexure I.
5. Documentation requirements and other information will be collected in respect of different categories of customers depending on perceived risk and requirements of Prevention of Money Laundering Act, 2002 & National Housing Bank Act, rules framed thereunder and guidelines issued from time to time;
6. Necessary checks will be applied before granting a new loan so as to ensure that the identity of the customer does not match with any person with a known criminal background or with banned entities or whose names appear in the sanctions lists issued by UN Security Council circulated by National Housing Bank and the sanctions lists circulated by Reserve Bank of India from time to time, such as individual terrorists or terrorist organizations, etc. This will be done through de-duplication with publicly available lists of such individuals such as the SDN list etc.
7. The customer profile prepared by company will contain information relating to the customer’s identity, social/financial status, nature of business activity, information about his clients’ business and their location, etc. The nature and extent of due diligence will depend on the risk perceived by the Company. However, while preparing customer profile only such information will be taken from the customer which is relevant to the risk category and is not intrusive. The customer profile will be a confidential document and details contained therein shall not be divulged for cross selling or any other similar purposes without express permission of the Customer. However the customer profile may be shared with a Credit Bureau, empanelled vendors subject to the confidentiality clause and/or other agenciesas required by law.
8. In case the customer is unable to be present at the branch location physically, necessary checks will be done prior to disbursement of the loan through the company’s designated officers or an agency appointed by the Company to ensure the identity and contact details of the customer.
9. In the event the applicant is either of the following, the loan may be operated by the designated officer of such applicants subject to necessary documents being made available allowing such persons to operate the loan account and which are in conformity with the laws and practices of the land.
   1. Private Limited/Limited Company;
   2. Partnership firm.
10. At the time of any part or full prepayment of the loan by customers, a declaration will be obtained from such customers as to the source of the funds (as per NHB Directions issued from time to time) which are being paid to the Company.
11. No transaction or account based relationship will be undertaken without following the customer due diligence.
12. Mandatory Information shall be sought from Customer for KYC purpose while opening an account and during the periodic updation
13. Optional/additional information, if required, will be obtained by the Company with consent of the customer after the loan has been given.
14. In case the existing KYC compliant customer of the company desirous of availing another loan, the company will not undertake fresh customer due diligence exercise.