Loan Application: Terms & Conditions

 Loan Application: Terms & Conditions (NRB FINANCE)

Effective Date: 29/08/2024
Company: NRB FINANCE, Rajkot – Gujarat
Email: coustmercare@nrbfinance.in

Loan Application – Terms & Conditions

  1. Application Fee

    • Borrower shall pay a non-refundable loan application fee of ?500 at the time of submitting the loan application form.

  2. Accuracy of Information

    • Borrower must provide true, correct, and complete information in the loan application form.

    • Any false, incomplete, or misleading information shall lead to immediate rejection of the application.

  3. Minimum & Maximum Loan Amount

    • Minimum Loan: ?300

    • Maximum Loan: ?50,000

    • Loan amount sanctioned will depend on eligibility, KYC verification, and collateral offered.

  4. Eligibility

    • Applicant must be 18 years or above at the time of applying.

    • Applicant must be a resident of Gujarat rajkot and provide valid KYC documents (Aadhaar, PAN, Address proof, etc.).

  5. Collateral

    • NRB FINANCE accepts Collateral in the form of Gold, Vehicle, or Documents.

    • Collateral will be verified and secured before loan disbursement.

  6. Loan Tenure

    • Tenure available: 1 month to 24 months (fixed as per sanction letter).

  7. Repayment Modes

    • Borrower can repay via Cash, Bank Transfer, Cheque, or UPI.

    • Cheque bounce charges and late payment penalties shall apply as per Schedule of Charges (Page 11).

  8. Interest Rate

    • Fixed at 15% per annum on reducing balance.

  9. Processing of Application

    • Submission of loan application does not guarantee approval.

    • NRB FINANCE reserves the right to accept or reject any loan application without assigning reasons.

  10. Verification & Documentation

  • Borrower agrees to share KYC documents, income proof, and collateral details for verification.

  • Loan will be disbursed only after due verification and signing of the loan agreement.

  1. Rejection / Cancellation

  • If the application is rejected, the borrower will not be entitled to any refund of the application fee.

  • Borrower may withdraw/cancel their application before disbursement, but application fee shall remain non-refundable.

  1. Legal & Regulatory Compliance

  • Borrower must comply with Gujarat Money Lender Act and other applicable laws.

  • NRB FINANCE will follow all KYC, AML, and regulatory requirements.

  1. Communication Consent

  • By applying, borrower consents to receive SMS, email, phone calls, or WhatsApp messages from NRB FINANCE for loan processing and repayment reminders.

  1. Dispute Resolution

  • All disputes shall be subject to the exclusive jurisdiction of Rajkot, Gujarat courts.

 


The Applicant/Customer confirms that he/she has read and understood the terms and conditions of this Policy/Agreement. In case of any difficulty in understanding the contents, the Applicant/Customer shall immediately contact NRB FINANCE during the loan application process for necessary clarification. NRB FINANCE shall not be held liable for any misunderstanding if the Applicant/Customer fails to seek clarification before proceeding with the loan process.