Fair Practices Code (FPC)

1. Applications for Loans and Their Processing

All loan applications submitted on Friendly Loans For You are processed electronically without physical paperwork. Borrowers are informed upfront about the required documentation, verification criteria, and fee disclosures prior to contract confirmation.

2. Loan Appraisal, Terms, and Key Fact Statement (KFS)

Before any loan agreement is digitally executed, borrowers receive a standardized Key Fact Statement (KFS) clearly detailing:

• The sanctioned loan principal and net disbursement amount.
• The exact Annual Percentage Rate (APR) and monthly amortized EMI schedule.
• All one-time processing fees, stamp duty expenses, and contingency bounce charges.
• Absence of any hidden pre-closure or early foreclosure penalties.

3. Disbursement through Regulated Escrow Mechanism

Disbursements are executed via direct bank-to-bank IMPS/NEFT transfers routed through trustee-governed escrow accounts in accordance with RBI NBFC-P2P norms. No intermediary deductions or unauthorized withholdings take place.

4. Ethical Collections and Recovery Code

We adhere to strict standards of customer dignity and ethical collections:

• No Harassment: We strictly prohibit verbal intimidation, threats, or contacting unauthorized third parties/relatives.
• Authorized Windows: Contact regarding repayment reminders is restricted strictly to acceptable business hours (08:00 AM to 07:00 PM IST).
• Data Privacy: No mobile contacts, personal photos, or media files are ever accessed or utilized for recovery purposes.

5. Cooling-Off / Look-Up Period

Borrowers are provided a statutory 3-day cooling-off window starting from the disbursement timestamp. During this period, the borrower may terminate the credit facility by returning the principal amount without incurring any prepayment or exit penalty.