This has reference to the Master Direction - Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021, RBI/2020-21/73 dated February 17, 2021, wherein the Reserve Bank of India has revised the guidelines on Fair Practices Code for Housing Finance Companies to implement the same.
This Code shall apply to all the products and services offered by IIFL HFL, whether offered through Digital Lending Platforms (self-owned and/or under an outsourcing arrangement), across the counter, over the phone, by post, through interactive electronic devices, on the internet or by any other method.
We have a system and a procedure for receiving, registering and disposing of complaints and grievances in each of our offices, as well as on-line.
Customers should be able to access the Company through any of the following means:
IIFL HFL would send response / acknowledge receipt of complaint within a week. The acknowledgement will contain the name & designation of the official who will deal with the grievance. If the complaint is relayed over phone at our designated telephone helpdesk or customer service number, the customer shall be provided with a complaint reference number and be kept informed of the progress within a reasonable period of time.
After examining the matter, IIFL HFL shall send customer its final reply or communicate why it needs more time to respond and shall endeavor to do so within six weeks of receipt of a complaint and customer shall be informed how to take his/ her complaint further if he/ she is still not satisfied.
When a person is considering being a guarantor to a loan, he/ she should be informed about:
IIFL HFL will keep him/her informed of any material adverse change/s in the financial position of the borrower to whom he/ she stands as a guarantor.
All personal information of customers, both present and past, shall be treated as private and confidential and shall be guided by the following principles and policies.
IIFL HFL shall not reveal information or data relating to customer accounts, whether provided by the customers or otherwise, to anyone, including other companies/ entities in their group, other than in the following exceptional cases:
The customer shall be informed the extent of his/ her rights under the existing legal framework for accessing the personal records that IIFL HFL holds about him/ her.
IIFL HFL will not use customer’s personal information for marketing purposes, unless the customer specifically authorizes us to do so.