Recovery Policy

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The Recovery Policy at GRUH has been designed on the lines of the model policy for collection of dues and repossession of security provided by the IBA. The policy has been formulated at the request of National Housing Bank (NHB) to have a fair and transparent process for collection of dues and repossession of security with a view to fostering confidence and long term relationship with customers.

The underlying objective of the recovery policy is to lay down fair processes for collection of dues aimed at avoiding whimsical deprivation of the property / security of the customers and in consonance with the prevailing laws of the land.

General terms of loan

  • The repayment terms for the loan such as repayment frequency, interest calculation frequency, amortization frequency, repayment mode and method of calculation of interest, delayed payment charges etc are upfront clarified to customer in the sanction letter and / or loan agreement.
  • The general terms of repayment and calculation of interest and charges are also displayed at the branches and on the company’s website.
  • GRUH does not provide the repayment schedule for the entire tenure of the loans. However the key terms viz. ROI, loan tenure, interest calculation frequency, amortization frequency and equated monthly instalments are mentioned in the sanction letter.
  • Change if any in the terms of payment due to rate revision / PLR revision, are being intimated to the customer in writing.