Fair Practice
The Chinmaya Finance Capital Private Ltd clearly follows the Fair Practice Code with all its Customers and had duly explained its details while processing loan for all our customers.
Various Divisions of Process
Application & Loan process
The application includes all the current information of the Borrower - Current photocopy, Date of birth, marital status, occupation, business, Family details, office & residential address, source of income, guarantor details and other requirements.
The application form identify the Basic loan parameters such as minimum/ maximum loan amount, tenure, mode of repayment, information on loan proposal, etc. to all of our customers.
The application forms identifies the documentation required such as Address proof, Identity proof, Income proof, Asset proof, etc. The Company may call for additional documents for verification purposes.
The application forms are uniquely numbered and one part of the form is given back to the Customer as an acknowledgement copy. The Company keeps a record of acceptance of terms and conditions by keeping the original agreements signed by the customer’s and we educate them verbally on all aspects of the loan process.
All loan applications is verified and processed in estimated time schedule and an decision will be intimated to appropriate applicants as follows:
Two-Wheeler Finance: 1 hours
Car loans: 4 hours
Jewel Loan: 300 seconds
Personal Loans: 24 hours
All applications from the date of submission will go through various internal procedures of verification and credit appraisal. Applications that do not meet the internally recognized procedures of credit appraisal are declined based on the company’s credit policies.
The final decision on the application is communicated to the applicant written and verbally.
The borrower may contact the registered office of Chinmaya Finance Capital Private Ltd to ascertain the status of the loan application. However, applicants are welcome to contact the Company at any stage of the sanction process. Required and Supported Documents will be collected from the customers before disbursement of loan.
The geographical limit of our business is considerable location from our registered office. The reasonable policy of the Company is transparent and fair with its customers.
With an Experience of 10 years in Financial promote Which enable us to establish a strong foothold here and we aim to continuously provide our customers with premium service and exclusive benefits.
Fair Practice Code
Loan Appraisal, Accusation, Alteration in Terms & Conditions
Loan disbursement decision clearly depends on our Management Credit Policy of the CFCPL.
The Loan details will be communicated to our customer as Follows:
The scheme sheet & application would indicate, credit facility, tenure, mode of payment, rate of interest, The Equal monthly installment (EMI).
It includes processing fee and other charges as per our company management policies.
The information in scheme sheet & application are clearly reflected in Agreement.
A greeting Letter is also sent to our customers with Loan Description details & Amortization Schedule which mentions the EMI divide by primary and Interest components.
In any event the Company agrees to give full details of the accusation, alterations in Terms and Conditions. Customer invited to collect details at registered office and also available in website of CFCPL (www.chinmayafinance.com)
There will be also incidental charges such as cheque bounce charges, delayed payment charges, swapping charges, fore closer charges and other similar charges applicable depending on the loan availed by the customer as per our company policies. These charges are fixed based on customer repayment history. Incase of alteration in Terms and Conditions will be appropriately enlighten to our Customers.
After full and final settlement of the availed loan from our customer side, the company will release all relevant documents to the borrower. If subject to any legitimate right or lien, claim, against the borrowers shall be given prior notice to the borrower, with entire data of pending payments. CFCPL is entitled to hold securities until or unless the relevant payment received.
General Provisions
CFCPL shall refrain from interference in the affairs of the borrower, except for the purposes provided in the terms and conditions of the loan sanction documents (unless new information, not earlier disclosed by the borrower, has come to the notice of CFCPL).
The matter of Collection and recoveries, CFCPL will follow its own collection policy and procedure is designed by company and is clearly explained to all of our customers during the processing of loan application. The code of conduct is designed to be responsive in Sales and Collection with Customer. Collection policy is constructed on courtesy, fair treatment and persuasion.
Chinmaya Finance Capital Private Ltd is having established policy designed for customer care. The company has designated customer service representative. All the queries and grievance of customer are recorded for analysis and observation to give solution to fulfill the Requirements of our customers.
However, Customers can inform their Queries or grievance at the given e-mail ID: at admin@chinmayafinance.com. Further, the customers can also contact us through our official website www.chinmayafinance.com
