Dhani Loans and Services Limited

(formerly Indiabulls Consumer Finance Limited)

MOST IMPORTANT TERMS AND CONDITIONS

The Most Important Terms and Conditions mentioned herein below are an indicative list of terms and conditions of DLSL’s personal loan product. These terms and conditions are further described in our Loan Agreement under relevant sections / schedules and therefore, should be read in conjunction with those mentioned in the Loan Agreement. For an exhaustive list of terms and conditions of our personal loan product, please refer to the loan agreement available on mobile application or website or sent to you by Dhani Loans and Services Limited (herein referred as DLSL) on your registered email id.

1. The sanction of the Loan and its terms and conditions are subject to execution of the MTC and other documents and writings with DLSL. The terms and conditions of the MTC and/or other documents will prevail upon this Sanction Letter in case of any contradiction/conflict/difference. Further, the sanction of the Loan, its tenure and terms and conditions are subject to DLSL’s internal review and evaluation and any disbursement of the Loan, its tenure and terms and conditions shall be subject to such sanction being approved from DLSL. The Borrower(s) can access their Loan account details by logging into the Dhani Platform. The copy of statement of account can also be obtained on request from support@dhani.com

2. DLSL shall be entitled to revoke the sanction and to add, to delete or modify all or any of the terms and conditions of the Loan, inter alia, if there is any material change in the purpose(s) of Loan, if any information and/or statement given by Borrower(s) is found incorrect, incomplete or misleading, if there is breach of the terms and conditions of the MTC, if any report/document is not found satisfactory, if the Borrower(s) does not submit duly accepted copy of this Sanction Letter to DLSL within stipulated period, etc. DLSL decision in respect of material changes shall be final and binding on the Borrower(s).

3. Loan availed by the Borrower(s) from DLSL shall be used for the purpose stated in the MTC and shall not be used for speculative and/or capital market use and/or investments into any DLSL products and/or business end use purpose or prohibited/ antisocial purposes and/or purchase of gold/gold bullions/gold coins/gold jewellery/gold exchange traded funds/gold mutual funds. In the event that the Loan availed by the Borrower(s) from DLSL has been used for purposes as prohibited above or as mentioned in the MTC, DLSL shall be entitled to do all acts and things that DLSL may deem necessary to comply with its policies, including but not limited to liquidating Borrower(s)’ holdings of investments at that time. Further, the Borrower(s) shall bear all costs and expenses that DLSL may incur as a result thereof.

4. This Sanction Letter shall inter alia stand revoked/cancelled forthwith and shall be rendered absolutely null and void if :

(i) any material fact concerning the Borrower’s income or ability to repay or any other relevant fact is suppressed, concealed or not made known to DLSL;

(ii) any statement made or documents submitted alongwith the Loan application is found to be incorrect or false;

(iii) unconditional and absolute acceptance of this Sanction Letter has not been received by DLSL within 3 (three) days from the date of this Sanction Letter;

(iv) DLSL may decide, in its sole discretion, to revoke / cancel / recall this Sanction Letter.

5. Unless otherwise specified by DLSL from time to time, (a) interest shall accrue from the date of disbursement of the Loan; (b) interest shall be computed on the basis of a year of three hundred and sixty (360) days and the actual number of days elapsed; (c) interest shall be computed on monthly rests or on such periodic rests as may be decided by DLSL from time to time; and (d) in case of any payment default on the Due Date(s), interest shall be compounded every month on the overdue amount. Notwithstanding anything to the contrary herein, DLSL shall be entitled to debit the entire interest payable on the Loan from the amount disbursed by DLSL, as up-front interest.

6. Processing fee and other charges: The processing fee and / or other charges shall be deducted upfront by DLSL from the proceeds of the disbursement. The processing fee and / or other charges are non-refundable even if the Loan and the disbursement thereof are cancelled.

7. Default Interest: If the Borrower(s) fails to pay any amount payable by it to DLSL under the Loan Documents, the Borrower(s) shall also be liable for payment of default interest (on the gross defaulted amounts in case of payment defaults and/or on the outstanding personal loan facility in case of other defaults/Event of Default("Default Interest") at a default interest rate mentioned above ("Default Interest Rate") or at such other rate as may be specified in the policy of DLSL from time to time and such Default Interest shall be payable for the period of default.

8. Repayment: The Loan will be repayable in the manner as set out in this Sanction Letter. The Payment/Repayment Schedule shall be prepared/ altered/ modified basis the amount actually disbursed by DLSL from time to time. In case of delayed payment, Default Interest for the delayed period will be charged at rates as specified herein.

9. The prepayment fees and charges shall be applicable as per the terms of the MTC and the mutually agreed prepayment charges, more particularly mentioned in this Sanction Letter.

10. Security: The Borrower(s) will bear all the charges payable for the creation of said Security (if any) and shall take all the steps required for the perfection thereof.

11. The terms and conditions of this Sanction Letter are subject to change as per Reserve Bank of India (RBI)/ DLSL’s policies as applicable, from time to time.

12. On and at any time after the occurrence of an Event of Default, DLSL may, with or without any notice to any of the Borrower(s) and with or without the intervention of the court/arbitrator, cancel/recall the Loan whereupon the Borrower’s Dues shall become immediately repayable/payable.

13. DLSL is authorized to disclose, from time to time, any information relating to the Loan to any credit bureau (existing or future) approved by Government of India and RBI without any notice to the Borrower(s). DLSL is also authorized to make inquiries with the CIC (Credit Information Companies) and get the applicant’s Credit Information Report.

14. Recovery of Overdues / Bad debts: It is duty of the Borrower(s) to repay Loan with applicable interest along with all dues/charges/fees levied as per agreed terms of the MTC. However, in the event of default in re-payment of any of the above, DLSL reserves the right to recover overdues by resorting to legal and permissible means.

15. Notwithstanding the issuance of this Sanction Letter and the acceptance thereof, DLSL may, in its sole discretion, decide not to disburse the Loan, repudiate and rescind this Sanction Letter unilaterally without being required to give you any prior notice and without assigning any reasons whatsoever.

16. The Borrower(s) shall pay and bear the incidence / burden of stamp duties, legislation fees or other taxes/levies, including but not limited to, the applicable GST on the processing fee, in respect of the Loan and/or in respect of the documents evidencing/concerning the Loan and/or any penalty that may be imposed, shall be borne and paid by you without claiming any set-off, counter claim, damages, etc.

17. All capitalized terms used herein will have the same meaning ascribed to it under the MTC

18. COMPLAINTS AND GRIEVANCES

18.1 Internal Procedures:

Company shall endeavour to address/respond to all complaints and grievances within a reasonable time and keep the customers informed about the status of their complaints.

Company shall make available facilities at each of its branches and offices for the customers to lodge and/or submit their complaints or grievances, if any.

Customer shall be provided with facility to lodge his grievances for redressal through specifically made e-mail id available on the website of company. DLSL have established a system where by access to the complaint handling process is made available free of charge to our customers.

If the customer wants to make a complaint, he/she shall be suitably advised as to

  • All offices, branches shall display the office address, email id, fax no., phone no., etc. where a complaint can be made and designated authority to whom the complaint can be made. : How he/she can make a complaint i.e., phone, letter, fax, email, etc.

In the normal course of business, the Customer can reach DLSL either by visit to the nearest branch or by phone on below mentioned helpline numbers or by e-mail to support@dhani.com, or lodge complaints by email to grievance@dhani.com

Helpline Numbers are:

You can reach out to our customer service centre between 8:00AM to 8:00PM

Dhani Loans – 0124-6165722

Dhani Credit Line – 022-67737800

If the complainant is not satisfied with the reply provided by the customer care department, may escalate to his/her complaints to higher authority as below:

FIRST LEVEL  

Customers are requested to visit, call or write to the nearest branch of DLSL.

Name of Branch Head:

Contact details : Phone, email and full address:

Or send an email at support@dhani.com

 

SECOND LEVEL

 

If not attended within 7 working days, lodge a complaint through customer help line nos mentioned below:

 

You can reach out to our customer service centre between 8:00AM to 8:00PM

Dhani Loans – 0124-6165722

Dhani Credit Line – 022-67737800

 

Or send an email at grievance@dhani.com

 

THIRD LEVEL

If the complaint is not resolved satisfactorily within 15 working days, customer can contact our principal nodal officer at:

Mr. Sanjeev Kashyap

Chief Compliance Officer

Dhani Loans and Services Limited

Indiabulls House,

448-451, UdyogVihar,

Phase-V, Gurugram- 122016 (Haryana)

Phone 0124-6037111, Email: nodal@dhani.com

FOURTH LEVEL

If the complaint is not redressed satisfactorily within 30 working days, customer may directly write to the office of Ombudsman of their respective region. Region wise contact details of Ombudsman are as under:

S. No. Centre Address of the Office of

NBFC Ombudsman

Area of Operation
1. Chennai C/o Reserve DLSL of India,

Fort Glacis,

Chennai 600 001

STD Code: 044

Telephone No : 25395964

Fax No : 25395488

Email : nbfcochennai@rbi.org.in

Tamil Nadu, Andaman and Nicobar Islands, Karnataka, Andhra Pradesh, Telangana, Kerala, Union Territory of Lakshadweep and Union Territory of Puducherry
2. Mumbai C/o Reserve Bank of India RBI

Byculla Office Building Opp. Mumbai Central Railway Station

Byculla, Mumbai-400 008

STD Code: 022

Telephone No : 23028140

Fax No : 23022024

Email : nbfcomumbai@rbi.org.in

Maharashtra, Goa, Gujarat, Madhya Pradesh, Chhattisgarh, Union Territories of Dadra and Nagar Haveli, Daman and Diu
3. New Delhi C/o Reserve Bank of India

SansadMarg

New Delhi -110001

STD Code: 011

Telephone No: 23724856

Fax No : 23725218-19

Email : nbfconewdelhi@rbi.org.in

Delhi, Uttar Pradesh, Uttarakhand, Haryana, Punjab, Union Territory of Chandigarh, Himachal Pradesh, and Rajasthan and State of Jammu and Kashmir
4. Kolkata C/o Reserve Bank of India

15, Netaji Subhash Road

Kolkata-700 001

STD Code: 033

Telephone No : 22304982

Fax No : 22305899

Email : nbfcokolkata@rbi.org.in

West Bengal, Sikkim, Odisha, Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, Bihar and Jharkhand

* Board of Directors/Committee of the Board shall periodically review grievance redress process as well as issue instructions in the matter so that customer gets expeditious and fair resolutions of his grievances.