Headroom Financial Technology Services Private Limited, a Financial Technology (Fintech) company having its registered office at 53, Harmony Apartment, Plot 1 Sector 4, Dwarka, New Delhi – 110078 and its Corporate Office at Clover Acropolis, Near Giga Space, Viman Nagar, Pune 411014 is in the business of arranging different types of collateral free loans for business which may include Term Loan, Working Capital Loan, Invoice Financing etc., to its various customers. Such credit facilities are extended to different types of customers, which include Individuals, Partnership Firms, Companies and other Legal entities.
Headroom Financial Technology Services Private Limited (“the Company”) has framed and adopted a voluntary code approved by Board of Directors of the Company, which sets out the principles for fair practice standards when dealing with customers. This Fair Practices Code applies to the all categories of products and services offered by the Company (currently offered or which may be introduced at a future date).
It is, and shall be, our policy to make credit products available to all qualified applicants without discrimination on the basis of race, caste, colour, religion, sex, marital status, age (over that of majority), or handicap.
Our policy is to treat all the clients consistently and fairly. Our employees will offer assistance, encouragement and service in a fair, equitable and consistent manner. We will also communicate this Fair Practice Code (“Code”) to our customers by placing it on the Company’s website.
We shall ensure that charges/fees which affect the interest of the prospective borrowers are appropriately informed to the borrower. Terms and conditions pertaining to the facility will be conveyed to prospective borrowers. We commit that disputes arising out of the lending decisions will be appropriately resolved by a grievance redressal mechanism set up by us.
This Fair Practice Code is applicable to all facilities and services provided by the Company whether the same is provided over the phone, by post, through interactive electronic devices, on the internet or by any other method we maybe currently using or may introduce at a future date.
The Company’s key commitments to customers:
Applications for loans and their processing
Loan appraisal and terms/conditions
The Company will convey in writing to the borrower in the vernacular language/ Hindi/ English or a language as understood by the borrower by means of sanction letter or otherwise, the amount of loan sanctioned along with the terms and conditions including annualised rate of interest and method of application thereof and keep the acceptance of these terms and conditions by the borrower on its record. The Company will mention the penal interest charged for late repayment in bold in the loan agreement.
The Company will furnish a copy of the loan agreement preferably in the language as understood by the borrower along with a copy each of all enclosures quoted in the loan agreement to all the borrowers at the time of sanction / disbursement of loans.
Disbursement of loans including changes in terms and conditions
Posting on Website
Fair Practices Code, preferably in the vernacular language or a language as understood by the borrower should be put up on the web-site of the Company for the information of various stakeholders.
Regulation of rate of interest
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