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Terms Of Use

Terms Of Use

Terms Of Use
Fair Practices Code

With a view to institute fairness, transparency and healthy practice in rendering the lending business the Company has adopted and put in place the following updated Fair Practice Code in accordance with the Reserve Bank of India circular no.DNBS.CC.PD.No.266 /03.10.01/2011-12 dated March 26, 2012 and DNBS (PD) CC No. 286/03.10.042/2012-13 dated July 02, 2012. The said is updated as per the circular No. RBI / 2012-13/416 dated 18th February, 2013.


  • To promote good and fair practices by setting minimum standards in dealing with customers;
  • To increase transparency and to make the customer understand the services clearly ;
  • To encourage market forces, through competition, to achieve higher operating standards;
  • To promote a fair and cordial relationship between customer and the Company;

  • Application of the code:
    This code shall apply to the Company and all employees of the Company and other persons who are authorized on behalf of the Company to represent it in the course of its business, whether the products and services are provided across the counter, over the phone, by post, by email, through interactive electronic device, on the internet or by any other mode.

    In pursuance of the directions issued by Reserve Bank of India for Non-Banking Financial Companies (NBFCs), the Company, has adopted the following code for fair practices while dealing with customers. The Fair Practice Code (FPC) covers the following areas:

    1. Applications for loans and their processing:

  • Loan application forms of the Company will include necessary information which are likely to affect the interests of the prospective borrower, so that a meaningful comparison with the terms and conditions offered by other Non Banking Finance Companies can be made and an informed decision taken by the prospective borrower.
  • The loan application form shall indicate the documents required to be submitted along with the application form.
  • The Company shall provide to the prospective borrower an acknowledgement for receipt of all loan applications. An indicative time frame within which loan applications will be disposed of will be mentioned in such acknowledgement.
  • All communications to the borrower shall be in the vernacular language or a language as understood by the borrower.

  • 2. Loan appraisal and terms/conditions:

  • AFPL shall convey in writing to the borrower in the vernacular language or a language as understood by the borrower by means of sanction letter or otherwise, the amount of loan sanctioned along with the terms and conditions including annualized rate of interest and method of application thereof and keeps the acceptance of these terms and conditions by the borrower on its record. As complaints received against NBFCs generally pertain to charging of high interest / penal interest, AFPL shall mention the penal interest charged for late repayment in bold in the loan agreement.
  • AFPL shall furnish a copy of the loan agreement preferably in the vernacular language or a language as understood by the borrower along with a copy each of all enclosures quoted in the loan agreement to all the borrowers at the time of sanction / disbursement of loans.

  • 3. Disbursement of loans, including changes in terms and conditions:

  • The Company shall give notice to the borrower in the vernacular language or a language as understood by the borrower of any change in the terms and conditions including disbursement schedule, interest rates, service charges, prepayment charges etc. The Company shall ensure that changes in interest rates and other charges are affected only prospectively. The loan agreement shall contain a specific clause to this effect.
  • The decision of the Company to recall / accelerate payment or performance shall be in consonance with the terms of the loan agreement.
  • The Company shall release all securities upon repayment of all dues or on realization of the outstanding amount of loan subject to any Legitimate right or Lien for any other claim it will have against borrower. In case such right of set off is to be exercised, the borrower shall be given due notice with full particulars about the outstanding claims and the conditions under which the Company is entitled to retain the securities till the relevant claim is settled/paid.

  • 4. General provisions:

  • AFPL shall not interfere in the affairs of the borrower except for the purposes provided in the terms and conditions of the loan agreement, unless new information, not earlier disclosed deliberately or otherwise by the borrower, has come to its notice.
  • In case of receipt of request from the borrower for transfer of a borrower account to other NBFC, bank of financial institution, the consent or otherwise shall be conveyed within 21 days from the date of receipt of such request. Such transfer shall be in accordance with the contractual terms entered into with the borrower and in consonance with the statutes, rules, regulations and guidelines as will be applicable from time to time.
  • In the matter of recovery of loans AFPL shall resort only to remedies which are legally and legitimately available to it and will avoid using recovery measures during odd hours of the day, undue harassment, and use of muscle power for recovery of loans. As complaints from customers also include rude behavior from the staff of the companies. AFPL shall ensure that the staff is adequately trained to deal with the customers in an appropriate manner.
  • There shall be no discrimination in extending products and facilities including loan facilities to the physically / visually challenged applicants on grounds of disability (Ref: RBI Circular No.DNBS.CC. PD. No. 191/03.10.01/2010-11 dated July 27, 2010).

  • 5. Responsibilities of Board of Directors for Investor Grievance Redressal

  • AFPL Board of Directors shall also lay down the appropriate grievance redressal mechanism within the organization to resolve disputes arising in this regard. Such a mechanism shall ensure that all disputes arising out of the decisions of lending institutions' functionaries are heard and disposed of at least at the next higher level. The Board of Directors shall also provide for periodical review of the compliance of the Fair Practices Code and the functioning of the grievances redressal mechanism at various levels of management. A consolidated report of such reviews may be submitted to the Board at regular intervals, as may be prescribed by it

  • 6. Grievance Redressal Officer Details:

    In case of any complaint/ grievance, the applicant / borrowers may contact the AFPL:-

    Name:Kamlesh Gujar
    Contact No:022- 39413940
    Fax:022- 39357699
    Visit us
    Address:Angel Fincap Private Limited
    Ackruti Star, 5th Floor,
    Central Road, MIDC, Andheri (E),
    Mumbai – 400093.

    If the complaints/dispute is not redressed within a period of one month, the customer may appeal to the Officer-in-Charge of the Regional Office of Reserve Bank of India under whose jurisdiction our company is registered:
    Address:Reserve Bank of India
    Department of Non Banking Supervision,
    6,Sansad Marg,
    Post Box 87,
    New Delhi-110001
    Contact No:011-23714456/237393318

    The same information is also displayed at our branches and places of business.

    7. Regulation of excessive interest charged by NBFC:

  • The Board shall adopt an interest rate model taking into account relevant factors such as, cost of funds, margin and risk premium, etc and determine the rate of interest to be charged for loans and advances. The rate of interest and the approach for gradations of risk and rationale for charging different rate of interest to different categories of borrowers shall be disclosed to the borrower or customer in the application form and communicated explicitly in the sanction letter.
  • The rates of interest and the approach for gradation of risks shall also be made available on the web-site of the companies or published in the relevant newspapers. The information published in the website or otherwise published should be updated whenever there is a change in the rates of interest.
  • The rate of interest should be annualized rates so that the borrower is aware of the exact rates that would be charged to the account.

  • 8. Complaints about excessive interest charged by NBFC:

  • Rates of interest beyond a certain level may be seen to be excessive and can neither be sustainable nor be conforming to normal financial practice. AFPL shall lay out appropriate internal principles and procedures in determining interest rates and processing and other charges.
  • In this regard the guidelines indicated in the Fair Practices Code about transparency in respect of terms and conditions of the loans are to be kept in view.

  • 9. Lending against collateral of gold jewellery
    While lending to individuals against gold jewellery, AFPL shall adopt the following in addition to the general guidelines as above:

    i. The Board has approved following policy with regards to lending against gold to individuals as foll

  • Adequate steps to ensure that the KYC guidelines stipulated by RBI are complied with and to ensure that adequate due diligence is carried out on the customer before extending any loan,
  • Proper assaying procedure for the jewellery received,
  • Internal systems to satisfy ownership of the gold jewellery,
  • There shall be adequate systems for storing the jewellery in safe custody, reviewing the systems on an on-going basis, training the concerned staff and periodic inspection by internal auditors to ensure that the procedures are strictly adhered to. As a policy, loans against the collateral of gold should not be extended by branches that do not have appropriate facility for storage of the jewellery,
  • The jewellery accepted as collateral should be appropriately insured,
  • The auction shall be announced to the public by issue of advertisements in at least 2 newspapers, one in vernacular language and another in national daily newspaper.
  • As a policy the NBFCs themselves shall not participate in the auctions held,
  • Gold pledged will be auctioned only through auctioneers approved by the Board.
  • The policy shall also cover systems and procedures to be put in place for dealing with fraud including separation of duties of mobilization, execution and approval.

  • ii. The loan agreement shall also disclose details regarding auction procedure.

    The Company will abide by all guidelines, directives, instructions and advices of Reserve Bank of India as may be in force from time to time. The contents in this document shall be read in conjunction with these guidelines, directives, instructions and advices. The Company will apply better practice so long as such practice does not conflict with or violate Reserve Bank of India regulations.

    This code shall be effective immediately. The Company shall provide for periodical review of the compliance of this Fair Practice Code and the functioning of the grievance redressal mechanism at various levels of management.

    Fraud Prevention

    Angel Broking is committed in ensuring that your trading accounts remain secure and your personal information remains private. Here are some tips that will help you feel comfortable when you trade with us.

    Protect Your Online Trading Account:

    The Internet and wireless technology have made it easy for investors to check their Trading Account information and initiate investment transactions in one go. Angel issues this Alert to warn investors to take precautions to help ensure the security of their Trading accounts. Not doing so puts your Account information and investments at risk.

    By following a few simple steps, you can make it tougher for unauthorized people to gain access to your account. If your account access information has been stolen or compromised you can get in touch with us on (022) 28356000/ 40058200 or drop a mail at

    Lock the Door Behind You

    It is very important to terminate each online session when you are finished-usually by clicking the "Log out" link on the site. This is the computer equivalent to locking the door when you leave the house. If you merely type in another address, or close or minimize the Web browser window, it may be possible for unauthorized users with access to the same computer to gain access to your account information. Retrieving this information could be as easy as clicking on the Internet browser icon, pressing the browser's Back button, or recalling a browser's Internet History.

    Guard the Front Door

    Recently, a popular browser such as Microsoft Internet Explorer has introduced a feature where the browser offers to "remember" your usernames and passwords to secure web sites. Think twice about using this feature as it may allow others who can access your computer to log in to your Trading or other online account. Never allow the browser to remember user names and passwords while using a public or shared computer.

    Other Tips

    Here are a few other helpful hints to keep your information safe and secure:
    • Avoid using any computer that is not your own to access your Trading or other online account
    • Never share your password information with others
    • Create passwords that are unpredictable and counterintuitive, and don't use the same password for different accounts
    • Change passwords regularly
    • Beware of over-the-shoulder snoops while using public computers
    • If you suspect that your password has been stolen or used by others, notify us immediately.
    • If you must use a public or borrowed computer, you can marginally diminish the risk by clearing all Temporary Internet Files and History from the browser after you are finished (if you are using Microsoft Internet Explorer, this is done by clicking the Tools menu, selecting Internet Options, then selecting Delete Files from the Temporary Internet Files area and Clear History from the History area). Note: You may not always have the freedom to delete this information from someone else's computer, and you can't be certain if it contains spyware or viruses

    Do not store passwords in a file on your PC or laptop. They are at risk if your computer is serviced or stolen.
    By taking a few precautions you can avoid the most common pitfalls.

    Follow general best practices for securing any Internet-connected computer:

    • Keep your computer up-to-date with the latest security updates
    • Install a firewall and anti-virus software on any laptop or PC with wireless connectivity
    • While accessing your personal financial information online, you should have a secure web connection at all times. The web site address should start with "https://" instead of "http://" and you should see a secure symbol such as a closed padlock or key on the status bar in the lower right part of your screen

    Read Account Statements Carefully

    Be sure to review your account information regularly. If there are transactions that look suspicious, report them to us immediately.

    Privacy Policy

    Angel Broking Ltd, Angel Securities Ltd and Angel Commodities Broking Pvt Ltd (hereinafter referred to as 'Angel') has its own unique Privacy Policy. Please read the following to learn more about our Privacy Policy.

    This Privacy Policy covers Angel's stance towards the personal information which is stored while you are exploring our site and using the services on the site.

    Gathering and Utilization of Information

    Angel collects personally identifiable information while registering for Angel Account, Online Trading and Derivatives.

    Information Sharing and Disclosure

    1. Angel will preserve your personal information without selling or renting it to anyone.
    2. Only those people or companies will have access to the information who are authorized to do so.
    3. Angel will share your information only with your consent.


    Angel may set and access Cookies on your computer.

    Edit Your Account Information and Preferences

    Angel provides the facility to edit your Account Information and preferences at any time.


    Your Angel Account Information is password-protected for your privacy and security.

    Amendments in the Privacy Policy

    Angel may change this policy from time to time. We will notify you by posting a prominent announcement on our pages in case of substantial amendments in the way we use your personal information.

    Suggestions or Queries

    You are invited to forward your queries and suggestions to

    Terms of Use

    Angel Broking Ltd, Angel Securities Ltd and Angel Commodities Broking Pvt Ltd (hereinafter referred to as 'Angel') has launched e-broking services. It reserves the right to decide the criteria based on which customers would be allowed to avail of these services.

    You agree and understand that the information and material contained in this website implies and constitutes your consent to the Terms and Conditions mentioned below. You also agree that Angel can modify or alter the Terms and Conditions of use for this service without any liability.

    The content of the site and the interpretation of data are solely the personal views of the contributors. Angel reserves the right to make modifications and alterations to the content of the website. Users are advised to use the data for the purpose of information only and rely on their own judgment while making investment decisions. The values of all the global indices displayed in the website, are delayed by 10 to 60 minutes. The investments discussed or recommended may not be suitable for all investors. Angel does not warranty the timeliness, accuracy or quality of the electronic content.

    A possibility exists that the site could include inaccuracies or errors. Additionally, a possibility exist that unauthorized additions, deletions or alterations could be made by third parties to the site. Although Angel attempts to ensure the integrity, correctness and authenticity of the site, it makes no guarantees whatsoever as to its completeness, correctness or accuracy. In the event, that such an inaccuracy arises, please inform Angel so that it can be corrected.

    The price and value of investments and the income derived from them can go up or down and you may not get back the the capital invested. Changes in the rate of exchange may have an adverse effect on the value, price and income of investments in deposits other than your own. Past performance is not necessarily an indicator of future performance. The services and investments referred to in Angel's Site may have tax consequences and it is important to bear in mind that Angel does not provide tax advice. The level of taxation depends on individual circumstances and such levels and bases of taxation can change. You should consult your own Tax Advisor in order to understand any applicable tax consequences.

    Angel does not make any personal recommendations. The information on our Internet site is provided solely to enable investors to make their own investment decisions and does not constitute a recommendation to buy, sell or otherwise deal in investments. Our services and the securities we offer services on, may not be suitable for all customers; hence you should seek advice from an independent Financial Advisor.

    The content of the website cannot be copied, reproduced, republished, uploaded, posted, transmitted or distributed for any non-personal use without obtaining prior permission from Angel. We reserve the right to terminate the accounts of subscribers/customers, who violate the proprietary rights, in addition to necessary legal action.

    Angel and its owners/affiliates are not liable for damages caused by any performance, failure of performance, error, omission, interruption, deletion, defect, delay in transmission or operations, computer virus, communications line failure, and unauthorized access to the personal accounts. Angel is not responsible for any technical failure or malfunction of the software or delays of any kind. We are also not responsible for non-receipt of registration details or e-mails. Users shall bear all responsibility of keeping the password secure. Angel is not responsible for the loss or misuse of the password.

    Angel is not responsible for the content of any of the linked sites. By providing access to other web-sites, Angel is neither recommending nor endorsing the content available in the linked websites.

    You agree that the information gathered from your profile will be used to enhance your experience on the website. We will not rent or sell the profile to any third party. In case of a contest or a promotion scheme, we reserve the right to share the users profile with the sponsors. In the event of necessary credit checks and collection of payments, Angel can disclose such information to other authorities in good faith. Angel will use all or any part of the service and change terms without any obligation.

    This website is for the exclusive purpose of transactions to be carried out within the territorial jurisdiction of India and all such transactions shall be governed by the laws in India. Notice is hereby given that Non Resident Indians (NRI's) and Foreign Nationals accessing this web site and opting to transact thereon shall do so after due verification at their end of their eligibility to do so. Angel undertakes no responsibility for such pre-eligibility of qualification on part of Non-Resident Indians (NRI's) or Foreign Nationals to transact on this website.

    You understand and agree that no joint venture, partnership, employment or agency relationship exists between you and Angel as a result of this agreement or on account of use of our web site.

    Price and availability of products and services offered on the site are subject to change without prior notice. We provide information about the availability of products or services to a certain extent but you should not rely on such information. Angel will not be liable for any lack of availability of products and services you may order through the site.

    Governing Law

    Transactions between you and Angel shall be governed by and construed in accordance with the laws of India, without regard to the laws regarding conflicts of law. Any litigation regarding this agreement or any transaction between customer and or any action at law or in equity arising out of or relating to these agreement or transaction shall be filed only in the Competent Courts of Mumbai alone and the customer hereby agrees, consents and submits to the jurisdiction of such courts for the purpose of litigating any such action.

    BSE/NSE Disclaimer

    The Bombay Stock Exchange/National Stock Exchange of India Ltd is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc, of any of the Rules, Regulations, Bye-laws of the Bombay Stock Exchange, National Stock Exchange of India Ltd, SEBI Act or any other laws in force from time to time.

    The Bombay Stock Exchange/National Stock Exchange of India Ltd is not answerable, responsible or liable for any information on this Website or for any services rendered by us, our employees, and our servants.

    If you do not agree to any of the Terms and Conditions mentioned in this agreement, you should exit the site.