Responsible Lending Practices

At Waqt Money, we strictly advocate for and follow Responsible Lending Practices in partnership with RBI-regulated Non-Banking Financial Companies (NBFCs), including our primary partner Waqt Finance Pvt Ltd (RBI Registration: B.10.00143). We ensure that our customers are treated fairly, transparently, and respectfully at all stages of their borrowing journey.

1. Full Transparency on Rates & Fees

We believe in complete transparency. Before you sign your loan agreement, we ensure you receive a clear breakdown of:

• Annual Percentage Rate (APR): The complete annual cost of credit, including interest and processing fees.
• Processing Fees: A one-time administrative fee deducted from the disbursal, with no hidden pre-payment demands.
• Late Payment Charges: Specified clearly in the agreement with no hidden charges.

2. Eligibility-Based Lending

We conduct thorough financial checks to ensure we do not over-extend credit. We analyze income stability, debt-to-income ratios, and credit histories before sanctioning. This protects borrowers from falling into debt traps.

3. Fair Collection Practices

We treat our borrowers with dignity. Waqt Money and its partner institutions follow a strict Code of Conduct for loan recoveries:

• No threat, harassment, physical coercion, or abusive language is permitted.
• Recoveries are only carried out during standard working hours (9:00 AM to 6:00 PM).
• Repayment reminders are sent via verified digital channels (SMS, email, calls) in a polite manner.

4. Credit Score Reporting

All active loans and repayments are reported directly to major credit bureaus (CIBIL, Experian, Equifax). Repaying your loans on time will actively build your credit score, while defaults will be reported and can negatively affect your future credit eligibility.