Lending Policy

Overview

Background

We, Satsai Finlease Private Limited, an RBI registered NBFC committed to providing personal loans to employed professionals. We easily meet your unique financial needs by incorporating innovation into the credit availing process, giving you instant access to funds directly.

We offer loans at affordable interest rates due to a minimal risk profile. At Quikkred, we take pride in offering the lowest interest rates to our borrowers, ensuring they are not unnecessarily burdened by high interest rates.

Purpose of Manual

The purpose of this document is to provide a detailed description of the target customer profile for this product, sourcing strategy, customer selection criteria, product and program offering, detail credit and risk norms, risk mitigation and provide a high-level business process flow.

Payments Landscape

Recent Trends

While the Indian economy has traditionally been a cash-based economy, this trend is fast changing. Non-cash-based payments have been registering an upward trend in recent times. India's digital payment system has grown exponentially in recent years. The digital payments sector is expected to contribute significantly to India's gross domestic product (GDP). Multiple factors and official & behavioral trends are fueling this shift towards a cashless economy.

Enhanced internet connectivity, high rate of penetration of smartphones and flagship government initiatives such as 'Digital India' have been acting as key catalysts for this change. In fact, non-cash payments are expected to overtake cash transactions in the coming years.

Digital Economy – Key Enablers

There are key enablers which have hastened the transformation to a digital economy with pull and push type of payment requests:

Loan Products

The Company offers the following loan products:

Eligibility Criteria

To be eligible for a loan, applicants must meet the following criteria:

• •Indian citizen aged 21 years and above
• •Valid KYC documents (Aadhaar, PAN, Address Proof)
• •Stable and verifiable source of income
• •Active bank account with digital transaction history
• •Satisfactory credit history and bureau score

Loan Application Process

Interest Rates & Charges

Interest rates are determined based on:

• •Risk profile of the borrower
• •Loan amount and tenure
• •Type of loan product
• •Prevailing market conditions

Disbursement Policy

• •All loans are disbursed directly to the borrower's bank account
• •No disbursement to third-party accounts
• •Disbursement only after borrower's acceptance of loan terms
• •Real-time SMS and email notifications upon disbursement

Repayment

• •Repayment through NACH/ECS/UPI mandate
• •Flexible prepayment options available
• •No foreclosure charges on floating rate loans (as per RBI guidelines)
• •Timely repayment reminders via SMS/Email/App notifications

Borrower Rights

Every borrower has the right to:

• •Receive complete information about loan terms before acceptance
• •Access the Key Fact Statement (KFS) in vernacular language
• •Cooling-off period to exit the loan without penalty
• •Lodge grievances through designated channels
• •Data privacy and protection as per DPDP Act

Grievance Redressal

The Company has a robust grievance redressal mechanism:

• •Dedicated customer support channels
• •Grievance Redressal Officer for escalated complaints
• •Resolution within 30 days of complaint receipt
• •Escalation to RBI Ombudsman if unresolved

Regulatory Compliance

This Lending Policy is compliant with:

• •RBI Master Direction on Digital Lending
• •Fair Practices Code for NBFCs
• •KYC/AML Guidelines
• •Digital Personal Data Protection Act, 2023

Policy Review

This policy shall be reviewed annually or upon any regulatory changes, whichever is earlier.

Effective Date

This Policy shall come into effect from 1st April 2025.