Fair Practices Code
Last updated: June 1, 2026
This Fair Practices Code sets out Moneyplus Financial Services Limited’s (“Udhaarbox”’s) commitment to fair, transparent, and respectful dealing with customers, in line with the Reserve Bank of India’s Fair Practices Code guidelines for NBFCs.
1. Objective
We are committed to non-discriminatory, transparent lending practices — communicating clearly, disclosing all charges upfront, and treating every customer fairly regardless of their background.
2. Applications and processing
Applications are submitted digitally and acknowledged on receipt. We clearly communicate the documents required upfront — PAN, Aadhaar, bank statements, and a live selfie for KYC — and assess eligibility using an automated process designed to give applicants a fast, clear decision.
3. Loan appraisal and terms/conditions
Before you accept a loan offer, we disclose the loan amount, interest rate, tenure, processing fee, and Annual Percentage Rate (APR) in a Key Fact Statement, so you can see the full cost of the loan upfront. Indicative terms: loans from ₹1,000 to ₹50,000, tenures of 1–6 months, interest starting at 10.5% p.a., with no collateral required. Your actual terms depend on your credit profile and are confirmed in your Key Fact Statement before you accept any offer.
4. Disbursement of loans
Once you accept a loan offer and complete the required agreement, funds are disbursed by direct transfer to your verified bank account. No conditions apply beyond those disclosed in your Key Fact Statement and loan agreement.
5. Interest rate policy
Interest rates are determined based on your credit risk profile, starting from 10.5% per annum, with an Annual Percentage Rate (APR, inclusive of fees) of up to 36%. Processing fees of 2–10% (plus 18% GST) are disclosed before you accept an offer. We do not charge foreclosure or prepayment fees.
6. Grievance redressal mechanism
If you have a complaint about your application, loan terms, or how you were treated, see our full Grievance Redressal policy for how to raise it and our resolution timelines. If your complaint remains unresolved, you may escalate it to the Reserve Bank of India’s Sachet portal.
7. Recovery practices
Where recovery of dues is necessary, we act fairly, respectfully, and in accordance with RBI guidelines. We do not use harassment, threats, or misrepresentation, and we do not contact you at inconvenient times. Our staff and any recovery agents acting on our behalf are expected to maintain strict decorum and respect your privacy and dignity at all times.