All Communication to the borrower will be in vernacular language or a language as understood by the borrower. All relevant information pertaining to the loan will be made available in the relevant loan application form(s), including the necessary loan information and documents required to be submitted together with the duly completed application form. Loan application forms of EASYCHECK will include necessary information which are likely to affect the interests of the prospective borrower, the approach of EASYCHECK for gradation of risk and rationale for charging different rate of interest to different categories of borrower so that a meaningful comparison with the terms and conditions offered by other Non Banking Finance Companies can be made and an informed decision can be taken by the prospective borrower. EASYCHECK shall provide to the prospective borrower an acknowledgement for receipt of all loan applications. An indicative time frame within which loan applications will be disposed of will be mentioned in such acknowledgement.

Loan applications shall be assessed in accordance with the Company’s credit appraisal process. Upon approval of the loan, an agreement/sanction letter indicating the amount of loan sanctioned, annualised rate of interest applicable, including method of application thereof, along with the terms and conditions, shall be conveyed to the loan applicant in writing along with penal interest rate for late repayment in bold letters. A written acceptance of such terms and conditions shall be retained by the Company. EASYCHECK shall furnish a copy of the loan agreement along with a copy of all enclosures quoted in the loan agreement to the borrower.

The Company will refrain itself from changing the terms & conditions after the same have been settled at the time of initial sanction and disbursement of loan unless receipt of any significant information which were not disclosed earlier by the borrower. Any changes to the terms and conditions, including disbursement schedule, interest rates, service charges, prepayment charges, etc., shall be informed individually to the borrowers in case of account specific changes, and in case of others, the same shall be available at the registered office / corporate office of the Company. All the communication intimating change in terms & conditions shall be in vernacular language or language as understood by the borrower.

Changes in the interest rates and charges shall form part of loan agreement and shall be effected only prospectively. All securities pertaining to the loan would be released on receipt of full and final payment of the loans, subject to any legitimate right or lien and set- off for any other claim that the Company may have against the borrower. If such right of set-off is to be exercised, the borrower shall be given notice about the same with full particulars about the remaining claims and the conditions under which the Company is entitled to retain the securities until the relevant claim is settled / paid.

EASYCHECK will guide customers who wish to lodge a complaint and also provide guidance on what to do in case the customer is unhappy with the outcome. After examining the matter, EASYCHECK will send a response as soon as possible; EASYCHECK will also guide a customer on how to take the complaint further if the customer is not satisfied. A Principal Officer has been appointed for the redressal of grievances of the customers including the borrowers, in connection with any matter pertaining to business practices, lending decisions, credit management and recovery. The name and contact details of the Principal officer shall be displayed on the website of EASYCHECK.

The Principal Officer shall periodically review the implementation and compliance with this code including the redressal of grievances periodically and in case at least once every calendar quarter. A report to this effect shall be provided by the Nodal Officer for perusal of the Board.