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.
In case of response /acknowledgement of your compliant not received within 7 days, customer can raise an online request at https://www.iifl.com/contact-us/raise-a-request or response being unsatisfactory from above mentioned sources the complaint may be further escalated to:
Grievance Redressal Officer Vishal Bhalerao at firstname.lastname@example.orgIIFL Tower, 98, Udyog Vihar, Phase-IV, Near Maruti Gate no-3, Gurgaon, Haryana -122016
In case of response not being received within 15 days of escalation of complaint to Level I or the response being unsatisfactory from the above mentioned sources the complaint may be further escalated to:
Nodal Officer at email@example.comIIFL Tower, 98, Udyog Vihar, Phase-IV, Near Maruti Gate no-3, Gurgaon, Haryana -122016
In case of response not being received or the response being unsatisfactory from the above mentioned sources the complaint may be further escalated to:National Housing Bank, Department of Regulation and Supervision, (Complaint redressal Cell), 4th Floor, Core-5A, India Habitat Centre, Lodhi Road, New Delhi- 110003
The complaint can also be emailed to firstname.lastname@example.org
Further, the complaint may be lodged in Online mode here OR in offline mode by post, in prescribed format available here.
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.
The expression “own sources” for the purpose means any source other than by borrowing from a bank/ HFC/ NBFC and/or a financial institution.
All dual/ special rate (combination of fixed and floating) housing loans will attract the pre-closure norms applicable to fixed/ floating rate depending on whether at the time of pre-closure, the loan is on fixed or floating rate. In case of a dual/ special rate housing loans, the pre-closure norm for floating rate will apply once the loan has been converted into floating rate loan, after the expiry of the fixed interest rate period.