Terms & Condition

Advita Urban Credit Co-op Society Ltd — Terms & Conditions

These Terms & Conditions set out the standard practices and obligations of Advita Urban Credit Co-op Society Ltd (\"Advita\") for providing member services, savings and credit facilities. Advita is committed to transparent, fair and responsible lending and to complying with applicable laws and regulations. Wherever RBI guidelines or other statutory directions apply, Advita shall follow those guidelines in letter and spirit.

1. Fair Practices with Members

Advita follows fair practices in dealing with members and borrowers. All information that materially affects the terms of membership, deposit accounts or loans will be communicated clearly and in a timely manner.

2. Communication of Charges

The Society will disclose at the time of product solicitation and before account opening or loan disbursal all applicable charges including interest rate (effective and annualised), processing fees, prepayment charges (if any), penalty charges, insurance charges (if bundled) and any other costs that may be levied. Charges will be made available in writing and in a medium/language understood by the member.

3. Key Loan Terms to be Communicated

• Nature and purpose of the loan product.
• Rate of interest (declining/flat) and method of application.
• Total processing and upfront charges.
• Repayment schedule, EMI/instalment amount and tenure.
• Security (if any) and related terms.
• Insurance coverage details and premium, if bundled.
• Consequences of default and late payment charges.

4. Mode of Communication

Advita will communicate key terms and any subsequent changes through one or more of the following in a format/language understood by the member:

• Individual sanction letter or loan agreement.
• Loan schedule and passbook entries.
• Printed notices at group/centre meetings with member acknowledgement.
• SMS / email where member has opted for digital communication.

5. Collection & Recovery Practices

Recovery efforts will be respectful and within legal and ethical boundaries. The Society prohibits abusive, violent or coercive recovery methods. Field staff and recovery agents will follow the Society's code of conduct and will provide valid receipts for all collections.

6. Multiple Lending & Exposure Limits

To promote responsible borrowing, Advita encourages members to disclose existing credit exposures. The Society may participate in cooperative data-sharing initiatives to assess aggregate exposure and prevent over-indebtedness. Individual exposure norms and product-specific limits will be set by the Society's credit policy and communicated to members at the time of lending.

7. Transparency & Data Handling

Member data will be handled with confidentiality and in accordance with applicable data protection laws. Disclosure of member information to external agencies will only be as permitted by law or with the member's consent for legitimate purposes such as credit assessment or insurance.

Client Grievance Redressal

Advita's grievance redressal policy is built on the principles of fairness, promptness and transparency.

• All complaints will be recorded, acknowledged and resolved within a reasonable timeframe as per the Society's internal SLA.
• Members will be informed of escalation channels including branch manager, area manager and the head office contact.
• Grievance process steps and contact details will be displayed at branch offices and communicated during member onboarding sessions.
• Members may also raise grievances via the Society's toll-free number, email or in person at branch counters.

Redressal Procedure (Overview)

• Step 1: Member lodges complaint through any available channel (phone, email, branch visit).
• Step 2: Complaint is logged and acknowledged with a reference number.
• Step 3: Branch/area team investigates and provides resolution or escalates to head office.
• Step 4: If unsatisfied, member may escalate to the Society's grievance officer or the designated committee; final recourse can be statutory/regulatory channels as per law.

Contact & Support:

For assistance or to lodge a grievance, please contact our Member Support:
Toll Free:+91 9552823088   |   Email: info@advitacredit.in

Note: These Terms & Conditions provide an overview of member rights and Society practices. The Society's official loan agreement, membership rules and policies (as approved by the Board) shall govern the contractual relationship. Advita reserves the right to amend these policies subject to statutory requirements and internal approval processes.