Question 1

What types of loans are offered?

Accepted Answer

ADFC Finance offers Gold Loans, Personal Loans, MSME/Business Loans, and other credit facilities as approved by the Board from time to time.

Question 2

Who is eligible to apply for a loan?

Accepted Answer

Eligibility is determined based on:
 • Age and identity criteria
 • Valid KYC documents
 • Repayment capacity
 • Credit history (where applicable)
 • Internal credit and risk assessment policy

Question 3

What documents are required?

Accepted Answer

• Proof of Identity (Aadhaar / PAN / Passport / Voter ID)
 • Proof of Address
 • Income proof (if applicable)
 • Passport-size photographs
 • Any additional documents as per loan product

Question 4

How can I apply for a loan?

Accepted Answer

Loan applications can be submitted:
At ADFC Finance branches
Through authorized representatives
Via digital platforms (if applicable)

Question 5

5. How is the loan amount decided?

Accepted Answer

The loan amount is assessed based on:
Value of collateral (if any)
Applicant’s income and repayment ability
Internal credit appraisal norms

Question 6

What is the interest rate?

Accepted Answer

Interest rates are determined as per the Board-approved Interest Rate Policy, considering:
 • Cost of funds
 • Credit risk
 • Loan tenure
 • Product type

Question 7

Are there any fees or charges?

Accepted Answer

Yes. All applicable processing fees, service charges, and other costs are clearly disclosed in the sanction letter and loan agreement.

Question 8

Is pre-payment allowed?

Accepted Answer

Yes.
For NBFC-MFI loans, no pre-payment penalty is charged, as per RBI guidelines.

Question 9

How is the loan disbursed?

Accepted Answer

Loan disbursement is made through:
 • Bank transfer
 • Cheque
 • Approved digital modes

Question 10

What happens if repayment is delayed?

Accepted Answer

Penal charges may be applicable for delays
No penal interest is compounded
Delays may impact the borrower’s credit score

Question 11

Will I receive a copy of the loan agreement?

Accepted Answer

Yes. A signed copy of the loan agreement and sanction letter is provided to every borrower.

Question 12

How can I raise a complaint?

Accepted Answer

Borrowers can contact the Grievance Redressal Officer whose details are provided below.
FAIR PRACTICES CODE (FPC)
(Board Approved)
ADFC FINANCE (IRIS COMMERCIAL PRIVATE LIMITED)
1. Objective
This Fair Practices Code (FPC) ensures transparency, fairness, and ethical conduct in all lending activities, in line with Reserve Bank of India (RBI) guidelines.
2. Loan Application Procedures
Loan application forms provide all necessary information affecting borrower interests
Details of interest rates, fees, charges, repayment terms, and penal charges are disclosed upfront
All loan applications are duly acknowledged
3. Loan Appraisal & Sanction
Loan appraisal is carried out as per documented internal credit policies
Sanction letters clearly specify:
Loan amount
Interest rate
Tenure
Repayment schedule
Fees and applicable charges
4. Interest Rate Policy
Interest rates are Board-approved and risk-based
Rates vary depending on borrower profile, product type, tenure, and cost of funds
Method of interest calculation is communicated transparently
5. Penal Charges
Penal charges are levied only for non-compliance with loan terms
Penal charges are reasonable, transparent, and non-discriminatory
Penal interest is not compounded
6. Pre-Payment & Foreclosure
Borrowers may pre-pay or foreclose loans as per policy
No pre-payment penalty is charged for NBFC-MFI loans, in compliance with RBI norms
7. Loan Disbursement
Disbursement is made only after completion of documentation
Borrowers receive a copy of the executed loan agreement
8. Recovery Practices
Recovery is conducted with dignity and respect
No harassment, coercion, or abusive language is permitted
Recovery agents strictly follow RBI-mandated conduct guidelines
9. Grievance Redressal Mechanism
ADFC Finance has a structured grievance redressal mechanism for customer complaints.
Grievance Redressal Officer (GRO):
Name: Mr. Pankaj Tanaji Thorat
Designation: Grievance Redressal Officer
Customers may submit complaints through branch offices or official communication channels.
Complaints will be addressed within stipulated timelines as per RBI norms.
If the grievance is not resolved satisfactorily, the customer may escalate the matter to the Reserve Bank of India (RBI) as per applicable guidelines.
10. Display & Disclosure
This Fair Practices Code is:
Displayed at all branches
Published on the official website
Loan terms are communicated in simple and understandable language
11. Review of FPC
The Board periodically reviews this Fair Practices Code and updates it in line with regulatory requirements.