Matsya Fincap

Matsya Fincap Private Limited has adopted this Code in English. A Hindi reading is below. The Code is displayed at offices and on this website. Staff are trained against coercive recovery. Field visits are not made before 8:00 AM or after 8:00 PM, nor on festivals or mourning, for recovery.

Applications

The loan application captures information that affects the borrower, lists documents required, and is acknowledged with a reference number. A decision is ordinarily given within 15 working days of complete papers. Additional data is called promptly. If the application is declined, the principal reason(s) are communicated in writing (including email). The decision may be reported to credit information companies.

Appraisal and terms

Sanction (if any) is conveyed in writing, in English or Hindi as chosen, with amount, annualised rate, processing, penal charges if any, tenure and security. A copy of the agreement and enclosures is given at sanction / disbursement. A Key Fact Statement is issued before the agreement is executed.

Changes, security, transfer

Changes in rate or charges are only prospective, with notice in a language the borrower understands. Securities are released on full repayment, subject to legitimate lien, with notice. A request to transfer the account is answered within 21 days. NOC is issued within 15 working days of closure, subject to clearance.

Recovery

No harassment, no muscle, no odd-hour calling. Training is imparted to collection staff. Recovery is in-house. If an external agent is assigned, the borrower is told the agent’s name, address and contact number by SMS or email before the first contact. Floating-rate term loans to individual borrowers carry no foreclosure charges, per RBI. This company’s mortgage product is presently originated as a fixed-rate facility — foreclosure terms, if any, appear on the sanctioned KFS before the agreement.

Interest

See the interest rate policy. Rates are annualised so the borrower knows the exact charge.

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