Fair Practice Code (FPC)

NextBigLoan (“the Company”) has included this Fair Practice Code as per the RBI guidelines, and the main objective to do so is to ensure complete transparency with fairness, and ethical conduct in facilitating personal loans as per our service. This Code is analysed and approved by the Board of Directors after checking all the details and then implemented for all services currently provided by the Company.

Main Objectives

To ensure transparency and fairness in loan services, especially in applying fees and charges.
To enhance and build customers’ trust with a keen awareness.
To promote ethical and sustainable relationships with customers.

Available Products

Personal Loans with short tenure

Key Commitments

We always accomplish our work fairly, honestly, and transparently in personal loan services.
We explicitly reveal the product features, terms and conditions, and applicable charges.
We address all complaints efficiently and communicate shortly for fast results.

Application & Processing

The personal loan applications include all required details, including required documents for fair customer identification.
The customer will receive an acknowledgement once accomplish the loan application.
Sanction letters, after approval, will clarify the approved loan amount, terms, interest rate, and all penal charges in explicit language and data.
Borrowers will get a copy of the loan agreement and repayment schedule once it is approved.

Interest & Charges

All the charges, including Interest rate and penal charge, will be based on the RBI norms and it will be disclosed in the loan agreement, Key Fact Statement (KFS), after getting your final acceptance and approval.

Disbursement & Conduct

In the case of any change in the loan terms will be intimated through Email and phone call in advance.
We never go through harassment or any unethical recovery practices, and it is always done as per the RBI norms.
All the data collected by the customers will be kept confidential.

Grievance Redressal

Complaints may be registered via
Email: grievance@nextbigloan.com
Helpline: 92665 33676
Note: If the registered complaint is still unresolved within 30 days, the customer can write to the RBI Ombudsman via https://cms.rbi.org.in

Fair Practice Code (FPC)