Bank's Fair Practice Code as Lender


Processing of loan applications:
  • In the loan application form, the Bank shall provide comprehensive information including information about fees and charges if any payable for processing and amount of such fees refundable in case of non acceptance of application, prepayment options and other matter which affects the interest of the borrowers, as per the details more fully described in schedule-I to prospective borrowers of all categories of loans, irrespective of the amount of loan sought by them.
  • The Bank shall provide acknowledgement for receipt of all loan applications. The above said acknowledgement shall also mention the time frame within which application/s up to Rs.2 lakh will be disposed of by the Bank.
  • The Bank shall verify the loan applications within a reasonable period of time for disposal as per the time frame mentioned in schedule-II.
  • The Bank shall convey in writing the main reason/s which, in the opinion of the Bank after due consideration have led to rejection of the loan application in case of all categories of loans irrespective of any threshold limits, within a stipulated time.
Loan appraisal and terms/conditions:
Disbursement of loans including changes in terms & conditions:
Post disbursement supervision:
Grievance redressal: