Repco Home Finance - (Subsidiary of REPCO BANK

The Fair practices code seeks to promote good and fair practices by setting minimum standards in dealing with customers, increase transparency so that the customer can have a better understanding of what he or she can reasonably expect of the services, encourage market forces through competition to achieve higher operating standards, promote fair and cordial relationship between customer and the housing finance company.

The salient features of the Fair Practice Code are as follows: -

I. KEY COMMITMENTS TO THE CUSTOMERS:

a. Act fairly and reasonably in all our dealings with our customers by:

	Meeting the commitments and standards, for the products and services we offer and in the procedures and practices our staff follow
	Making sure that our products and services are in accordance with relevant laws and regulations
	Our dealings with customers will rest on ethical principles of integrity and transparency.

b. To help and understand how our financial products and services work by:

	Give the clear information explaining the key features of the services and products in plain English or local language
	Explaining their financial implications, benefits and services/contacts for further queries, if any
	Periodically informing the changes made in products, procedures, charges etc.

Deal quickly and sympathetically with things that go wrong by:

	Correcting mistakes quickly and Reversing any charges that we applied incorrectly by mistake
	Handling their complaints expeditiously
	Telling them how to take their complaint forward if they are still not satisfied
	Tell them what information need from them to prove their identity and address and to comply with legal and regulatory requirements and also their rights and responsibilities

II. DISCLOSURE AND TRANSPARENCY

a. Interest Rates

They can find out about our interest rates by:

1) Looking at the Notice Board in our branches

2) Contact our Branch over phone

3) Enquiry with our designated staff

When they become a customer, we will give them information on the interest rates applicable to their loan account and also explain them how we apply interest to their loan accounts

Changes in Interest rates:

When we effect changes in the interest rates, we will display the information in the notice board in our branches

b. Charges:

We will give them upfront details of the charges applicable to the products chosen by them and the list of services, which are rendered free of charge. This can also be found out by:

1) Asking our staff at the branch

2) Contacting our Branch over phone

c. Terms And Conditions

Those who become our customer or accept our product for the first time, we will give them the relevant terms and conditions for the service they have asked us to provide. All written terms and conditions will be fair and will set out their rights and responsibilities clearly and in plain language. We will only use legal or technical language where necessary

d. Accounting operations

To help our customers to manage their account and check entries on it, we will give the account statements. We will normally provide them with a statement periodically as per our policy, if customers ask us to provide with account statements more often than is normally available or for earlier periods it will be provided on payment of applicable charges.

III. PRIVACY AND CONFIDENTIALITY

We will be treating the personal information as private and confidential. We will not reveal transaction details of their accounts to a third party, other than in the following exceptional cases when we are allowed to do:

1) If we have to give the information by law

2) If there is a duty to the public to reveal the information

3) If our interests require us to give the information (for example to prevent fraud) but we will not use this as a reason for giving information about their accounts (including their name and address) to anyone else

a. Communication Link:

Please make sure to get the information as soon as possible when they change their -

	Name
	Address
	Phone Number or
	E-mail address for maintaining quick contact

b. Checking account

Customers have to check their statements regularly. If there is an entry, which seems to be wrong they should tell us as soon as possible so that we can sort it out.

c. Liability for Losses

If the customer acts fraudulently, they will be responsible for all losses on their account. If they act without reasonable care, and this causes losses, they will be responsible for the loss.

IV. LOANS:

Before we lend them any money we will primarily assess and satisfy about their repaying capacity. Wherever possible, reasons for rejection of loan proposals will be conveyed to them. The customers will be informed about the monthly dues, mode of payment, tenure, repayment holiday if any etc. and the recovery/collection policy is built on courtesy, fair treatment and persuasion.

All the members of the staff or any person authorised to represent for collection or / and security repossession should follow the guidelines detailed below: -

1) Customer would be contacted ordinarily at the place of his / her choice and in the absence of any specified place at the place of his / her residence and if unavailable at his / her residence, at the place of business / occupation

2) Identity and authority to represent our Company should be made known to the customer at the first instance.

3) Customer’s privacy should be respected

4) Interaction with the customer shall be in a civil manner

5) Customer’s shall be contacted between 07.00 a.m. and 07.00 p.m. unless the special circumstances of the customer’s business or occupation require otherwise

6) Customer’s request to avoid calls at a particular time or at a particular place shall be honoured as far as possible

7) Time and number of calls and contents of conversation would be documented

8) All assistance should be given to resolve disputes or differences regarding dues in a mutually acceptable and in an orderly manner

9) During visits to customer’s place for dues collection, decency and decorum should be maintained

10) Inappropriate occasions such as bereavement in the family or such other calamitous occasions should be avoided for making calls/visits to collect dues

V. COMPLAINTS / GRIEVANCES / FEEDBACK / SUGGESTIONS

If the customers want to make a complaint, we will tell them how to do this and what to do if they are not happy about the outcome. Our staff will help them with any questions they have.

Within two weeks of receiving their complaint, we will send them a written acknowledgement.

After examining the matter, we will send them our final or other response within eight weeks and will tell them how to take their complaint further if they are still not satisfied.

The customer’s can provide feedback on our services and suggestions, which will help us to improve our services. For this, they can contact the Branch Manager or write to us directly. Address of the Authority, Corporate Office is displayed at the Branch.