Before You Apply:
- All charges and fees
- Interest calculation method
- Penalty structures
- Prepayment terms
- Documentation requirements

In Writing:
- Loan terms and conditions
- Total cost of credit
- Processing timeline
- Rejection criteria

If loan rejected, bank must:
- Inform you in writing
- Provide specific reason
- Within reasonable timeframe

You can:
- Request detailed explanation
- Appeal to higher authority
- Approach Ombudsman if unsatisfied

Lenders cannot discriminate based on:
- Gender
- Caste
- Religion
- Region
- Disability
- Marital status

Exception: Risk-based pricing based on legitimate factors
(credit score, income, employment) is allowed

Loan Agreement Must Show:
- Annual interest rate (APR)
- Whether fixed or floating
- How floating rate is calculated
- Rate reset frequency
- Benchmark used (repo rate, MCLR, etc.)

Monthly Statements Must Show:
- Interest charged
- Principal reduced
- Outstanding balance
- Rate applied

Individual Borrowers:
- Home loans: Zero prepayment penalty
- Personal loans: Zero prepayment penalty
- All floating rate loans: No penalty allowed

Fixed Rate Loans:
- Prepayment penalty may apply
- Must be disclosed upfront
- Typically 2-4%

Your Right:
- Prepay any amount, any time
- No charges on floating rate loans
- Request penalty-free prepayment

1. Annual Percentage Rate (APR)
2. Recovery schedule
3. Processing fees
4. All other charges
5. Penal charges
6. Prepayment terms
7. Grievance redressal mechanism

If Credit Report Has Errors:
1. Request correction from bank
2. Bank must respond in 30 days
3. If corrected, bank updates bureau
4. If not corrected, you can dispute with bureau

Timeline:
- Bank response: 30 days
- Bureau update: 21 days after bank confirms

Prohibited Practices:
✗ Calling before 7 AM or after 7 PM
✗ Using abusive language
✗ Threatening violence
✗ Contacting employer unnecessarily
✗ Harassing family members
✗ Public shaming
✗ Damaging property
✗ Impersonating legal authority
✗ Collecting at workplace unless permitted

What Agents CAN Do:
✓ Call during 7 AM - 7 PM
✓ Send written notices
✓ Visit residence (reasonable hours)
✓ Inform about legal consequences
✓ Negotiate repayment terms
✓ Provide account information

You Can:
- Request agent identification
- Ask for written communication only
- Demand notice before visits
- Report harassment to bank
- File complaint with RBI
- Approach police for harassment
- Request single point of contact

Write to bank's nodal officer
Include:
- Agent details
- Date/time of incident
- Nature of harassment
- Evidence (recordings if legal in your state)

If bank doesn't resolve in 30 days:
- File complaint at RBI Ombudsman
- Online: cms.rbi.org.in
- Include all correspondence

For serious harassment:
- File FIR for criminal harassment
- Include evidence
- Name bank and agent

- Disclosed before loan
- Listed in agreement
- Itemized in statements
- Fair and reasonable
- Not arbitrary

Your Rights:
- Know exact fee before applying
- Refund if loan not sanctioned (usually)
- Challenge excessive fees
- Negotiate waiver

Your Rights:
- Zero for floating rate individual loans
- Know charges for fixed rate upfront
- Challenge unexpected charges

Your Rights:
- Know structure before loan
- Charge must be proportionate
- Must be clearly disclosed
- Can't be arbitrary

Your Rights:
- Challenge any undisclosed charge
- Request itemized breakdown
- Complain to RBI about hidden fees
- Recover through consumer court

Banks must:
- Not charge usurious rates
- Disclose calculation method
- Apply rate consistently
- Not arbitrarily change rates

If Overcharged:
- Request rate explanation
- Compare with peers
- Complain if unreasonable

Apps/Digital Lenders Must:
- Display regulatory status clearly
- Disclose all fees upfront
- Provide Key Fact Statement
- Not access phone data beyond necessity
- Not use coercive recovery

Prohibited Practices:
- Automatic data harvesting
- Accessing contacts/photos
- Sharing data without consent
- Charging undisclosed fees
- Using illegal recovery methods

You Can:
- Know if lender is RBI registered
- Receive complete terms before signing
- Get grievance officer details
- Complain to RBI about unregistered lenders
- Deny unnecessary app permissions

Warning Signs:
- No RBI registration mentioned
- Instant approval without verification
- Excessive app permissions demanded
- Unclear fee structure
- Harassment for recovery
- Threatening messages

Action:
- Don't take such loans
- Report to RBI
- Report app to Play Store/App Store

Complain to Bank's:
1. Branch Manager (first level)
2. Nodal Officer (escalation)
3. Principal Nodal Officer (further escalation)

Timeline:
- Response within 30 days
- Resolution attempt mandatory
- Written response required

After 30 Days (No Resolution):
- File complaint at cms.rbi.org.in
- Include:
  - Complaint details
  - Bank correspondence
  - Relief sought

Coverage:
- Banks, NBFCs, Prepaid instruments
- Most banking services
- Free to file

If Ombudsman Doesn't Resolve:
- District Forum: Claims up to ₹1 crore
- State Commission: ₹1-10 crores
- National Commission: Above ₹10 crores

Filing:
- Pay nominal fee
- Submit evidence
- Legal representation optional

For Serious Violations:
- Civil suit for damages
- Criminal complaint for fraud
- Writ petition for rights violation

Essential Documents:
□ Loan agreement (original)
□ All fee receipts
□ EMI payment records
□ Communication with bank
□ Rate change notices
□ Prepayment correspondence
□ Grievance filings
□ Response letters
□ Statement of accounts

Evidence to Preserve:
- Call recordings (if legal)
- SMS/WhatsApp messages
- Emails
- Written notices
- Witness statements
- Bank statements
- Recovery agent details

Bank Cannot:
- Harass family for payment
- Seize property without process
- Demand immediate full payment

Process Should Be:
- Insurance claim first
- Reasonable time for estate settlement
- Legal process for recovery
- Humane treatment of family

Your Rights:
- Request moratorium during hardship
- Covid-era: Was mandatory
- Normal times: Bank's discretion
- No credit score impact during approved moratorium
- Interest disclosure during moratorium

If You Face Difficulty:
- Right to request restructuring
- Bank should consider fairly
- Restructured loan terms in writing
- Credit report should reflect restructuring accurately

Example: ₹5,000 "documentation fee" not disclosed

Your Action:
1. Write to bank citing non-disclosure
2. Demand refund
3. Complain to RBI if not resolved
4. Consumer forum for damages

Example: Charged 2% on home loan prepayment

Your Action:
1. Cite RBI circular on zero prepayment
2. Demand reversal of charges
3. RBI complaint with evidence
4. Full refund expected

Example: Calls at 10 PM, threats to family

Your Action:
1. Document all incidents
2. Written complaint to bank
3. Police complaint for harassment
4. RBI Ombudsman
5. Possible damages in consumer court

Example: Loan marked defaulted when you paid

Your Action:
1. Write to bank with proof
2. Bank must rectify within 30 days
3. Bureau dispute if bank doesn't act
4. Ombudsman for delayed correction

You Must:
- Provide accurate information
- Repay as agreed
- Inform bank of address changes
- Use loan for stated purpose
- Maintain collateral (if applicable)
- Read and understand loan terms

Legitimate Lender Actions:
- Report to credit bureaus
- Legal notice
- Loan recall
- Collateral seizure (with process)
- Civil suit
- SARFAESI action (for secured loans)

RBI Ombudsman:
cms.rbi.org.in

Consumer Helpline:
1800-11-4000

RBI Customer Education:
rbi.org.in

Consumer Forum Info:
consumerhelpline.gov.in

To: [Bank Grievance Officer]
Subject: Complaint regarding [Issue]

Dear Sir/Madam,

Account/Loan Number: [XXXXX]
Date of Issue: [XXXXX]

I wish to bring to your attention [describe issue clearly].

This is in violation of [cite relevant RBI guideline/rule].

I have already [mention previous attempts to resolve].

I request [specific relief sought] within 15 days.

If not resolved, I will be constrained to approach RBI Ombudsman.

[Your Details]
[Enclosures]