Fair Practice Code (FPC)
Barbarik Finco Private Limited | RBI-Registered NBFC
Official Policy Document (Fair Practice Code (FPC))
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Fair Practice Code (FPC) Overview
This Fair Practice Code (FPC) has been established by Barbarik Finco Private Limited (RBI-Registered NBFC) in accordance with Reserve Bank of India master directions for digital lending and customer transparency.
Representative Example (as required by RBI)
| Parameter | CRM Calculation Value |
|---|---|
| Loan Amount | ₹50,000 |
| Tenure | 128 Days (8 Installments) |
| Interest Rate (ROI) | 36% p.a. |
| Processing Fee (10%) | ₹5,000 |
| Risk Assessment Fee (2%) | ₹1,000 |
| Document Signing Fee | ₹25 |
| 18% GST on Fees | ₹1,084.50 |
| Total Charges (incl. GST) | ₹7,110 |
| Disbursement Amount | ₹42,890 |
| Total Interest | ₹6,400 |
| Installment EMI | ₹7,050 (× 8 Installments) |
| Total Repayment Amount | ₹56,400 |
| Annualized Percentage Rate (APR) | 75.99% |
Key Commitments
- Transparency in Rates & Charges: All interest rates, processing fees (10%), risk assessment fees (2%), documentation charges, and APR are disclosed upfront in the Key Fact Statement (KFS) prior to loan execution.
- Fair Dues Collection: Customer interactions follow strict RBI guidelines between 07:00 and 19:00 hrs without harassment or coercion.
- No Hidden Fees: No undisclosed fees or penalty surcharges are levied beyond the sanction letter terms.
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