HomeShree Housing Finance Limited (formerly known as USB Housing Finance Corporation Limited) (“Company”) is a Housing Finance Company registered with National Housing Bank (NHB) and is in the business of providing Home Loans to its customers. Such credit facility is extended to different types of customers, which include Individuals, Partnership Firms, Companies and other Corporate/Legal Entities.
HomeShree Housing Finance Limited voluntarily adopts Fair Practices Code in full compliance to NHB Circular No. NHB (ND)/DRS/POL-No-16/2006 dated September 5, 2006 and NHB/ND/DRS/Pol-No.34/2010-11 dated October 11, 2010, which sets the principles for fair practices standards when dealing with individual customers. As per the NHB directives, we have adopted and will implement this Code in our organization, which has been duly approved by our Board of Directors.
All parts of this Code apply to all the products and services, whether they are provided by the Company across the counter, over the phone, by post, through interactive electronic devices, on the internet or by any other method.
Company's key commitments to customers:2.1Act fairly and reasonably in all our dealings with customers by:
2A. The Company shall transparently disclose to the borrower all information about fees/ charges payable fore processing the loan application, the amount of fees refundable if loan amount is not sanctioned/disbursed, pre-payment options and charges, if any, penalty for delayed repayment if any, conversion charges for switching loan from fixed to floating rates or vice-versa, existence of any interest re-set clause and any other matter which affects the interest of the borrower. In other words, the Company will disclose “all in cost” inclusive of all charges involved in processing / sanction of loan application in a transparent manner. The charges/fees will be non-discriminatory.
4.1(i)Application for loans and their processing:
(ii)Loan appraisal and terms/conditions
(iii) Communication of rejection of Loan Application
(iv) Disbursement of loans including changes in terms and conditions
We will inform the person considering being a guarantor to a loan:
5.1 We will treat the personal information of customers as private and confidential even when the customer is no longer a customer. We will not reveal the data or information of customer to anyone including other companies in the group except when:
a. We will inform customer on request of the circumstances when we will pass on the account details to credit reference agencies.
b. We may give information to credit reference agencies about the personal debts the customer owes us if:
c. We will give information about the customers account to credit reference agencies if the customer has given his/her permission to do so.
d. We will provide copy of information given to credit reference agencies if demanded by the customer.
6.1 Whenever loans would be given, the customer would be explained of the repayment process by way of the amount, tenure and periodicity of repayment. If the customer fails to adhere to the prescribed repayment schedule, appropriate action for recovery of dues shall be taken under the laws of land and no undue harassment will be resorted to.
6.2 We have framed our collection policy based on courtesy, fair treatment and persuasion. The Company believes in fostering customer confidence and long-term relationship. The staff or any person authorized to represent the Company in collection of dues or / and security repossession shall identify himself / herself and display the authority letter issued by the Company. He/She shall upon request, display his / her identity card issued by the Company or under authority of the company. Company ' shall provide customers with all the information regarding dues and shall endeavor to give sufficient notice for payment of dues.
6.3 All the members of the staff or any person authorized to represent the Company in collection or / and security repossession shall strictly follow the Codes set out below: