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Pursuant to the guidelines issued to housing finance
companies by the National Housing Bank in its
circular No. NHB (ND)/DRS/POL-No.16/2006 dated 5TH
September 2006, Sundaram Home Finance Ltd. (“the
Company”) has adopted this Fair Practices Code
effective 1st December 2006.
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| A.
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Objectives
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The
Code seeks to set out, and continually improve upon,
standards for fair and transparent business
practices to be followed by the Company while
dealing with its customers (which term denotes,
depending upon the context, persons who are or may
become the Company’s customers, whether as borrowers
or depositors, and guarantors of loans). |
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| B.
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Applicability
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The
Code is applicable to the Company’s employees and
other persons authorised to represent it in the
course of its business. |
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| C.
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Commitment
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i.
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The Company shall abide by the governing laws and
regulations. |
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ii.
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The Company does not discriminate on grounds of sex,
religion, or caste in its policies and operations. |
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iii.
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The Company shall endeavour to: |
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a.
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act fairly and reasonably and with
transparency in dealing with its customers; |
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b.
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take steps as
may be required to provide clear information to
customers about its various products and services,
the terms and conditions on which these are offered
by the Company, including the interest rates,
charges, repayment terms, and the persons who may be
contacted for securing the desired information; |
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c.
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obtain from its
customers such information as is required by the
Company to meet its obligations under the prevailing
statutory and /or regulatory Know-Your-Customer and
Anti-Money Laundering guidelines; and if the
customer fails to provide the requisite information
to the satisfaction of the Company, it may decline
to (continue) to make available its products and
services to the person concerned ; |
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d.
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keep customers
informed of changes in its lending and deposit
interest rates and charges through individual
communications or public announcements as
appropriate; and |
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e.
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inform its
customers of their right to information about their
accounts with the Company and the facilities
extended to them by the Company. |
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iv.
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The
Company will ensure that its publicity and
promotional literature and other materials are not
misleading. |
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v.
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The
Company will treat as confidential non-public
private information it receives about its customers
in the course of its business, and shall not
disclose the information to others except where: |
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a.
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required b y law or by a judicial, quasi-judicial,
or regulatory authority; or |
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b.
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the Company is obliged to disclose
in the public interest; or |
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c.
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the Company’s interests require
disclosure; or |
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d.
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the customer has consented to or
asked for such disclosure. |
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| D.
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Deposits
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The Company’s website and deposit-application form s
will provide details of the term s on which it may
accept deposits, including the period s for which
the deposits m ay be accepted , the rates of
interest offered , nomination, renewal, premature
withdrawal, and loans that may be available against
the deposits. |
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| E.
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Loans
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i.
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The
Company will put loan applications through a process
of due diligence to assess whether the loans sought
will conform to its current lending policies and
meet its credit, legal, and technical requirements. |
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ii.
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The Company will suitably inform
applicants whose applications are declined. |
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iii.
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Where
a loan is require d by the Company to be guaranteed,
the guarantor’s obligations and the circumstances in
which the guarantee may be invoked will be specified
in the letter of guarantee to be executed by the
guarantor. |
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iv.
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While
resorting to recovery of delinquent loans, the
Company, in line with its traditional practice, will
not resort to methods that may be considered as
harassment or coercion of the borrowers and related
parties. |
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| F.
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Complaints
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Any complaint against the Company is to be addressed
as follows: |
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By letter:
Mr. V Swaminathan, Company Secretary
Sundaram BNP Paribas Home Finance Ltd .
Sundaram Towers, 46 Whites Road
Royapettah
Chennai – 600014 |
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By email:
customercare@sundaramhome.com |
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| G.
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Copies of the Code
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This Code will be posted on the Company’s website,
and copies may also be got from its corporate and
other offices. |
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