FAIR PRACTICE CODE
Loanvittus.com
Operated by: Vittus Fintech Private Limited
Last Updated: 16 April 2026
1. Preamble
Vittus Fintech Private Limited (“Company”, “we”, “us”, “our”) operates LoanVittus as a Lending Service Provider (LSP) and Digital Lending App (DLA) under the Reserve Bank of India (Digital Lending) Directions, 2025 (“RBI DLD 2025”). We facilitate access to loan and credit products offered by partner Regulated Entities (REs) – banks, NBFCs, and other RBI-licensed lenders – with whom we have formal contractual arrangements.
This Fair Practice Code (“Code”) sets out our commitments to borrowers, prospective borrowers, and partner REs. It is aligned with:
• RBI (Digital Lending) Directions, 2025
• RBI Master Direction on Outsourcing of Financial Services
• RBI Key Fact Statement Circular, April 2024
• Digital Personal Data Protection Act, 2023
• Fair Practice Codes of our partner REs (which govern actual loan sanction, pricing, and recovery)
2. Our Role - and Its Limits
(a) We are not a lender. We do not sanction loans, set interest rates, determine eligibility, or disburse funds. Every credit decision rests solely with the RE.
(b) We do not hold borrower funds. All disbursals flow directly from the RE to the borrower’s bank account. All repayments flow directly from the borrower to the RE. We do not operate pool, escrow, or nodal accounts.
(c) We do not charge borrowers for loan facilitation. Any LSP fee is paid by the RE under our contract.
If anyone claims to collect a fee from you on our behalf, report it to our Grievance Officer immediately.
(d) We are not regulated by the RBI. Our partner REs are. Nothing on the Platform implies RBI endorsement.
3. Commitments to Borrowers
3.1 Transparency and plain language. Key disclosures are made in clear, plain language and, to the extent operationally feasible, in a language understood by the borrower.
3.2 Key Fact Statement (KFS). Before the loan contract is executed, the borrower receives a KFS issued by the RE in the format prescribed by the RBI KFS Circular (April 2024) – containing the Annual Percentage Rate (APR), all fees and charges, penal charges, EMI schedule, and cooling-off terms. The KFS is displayed within the LoanVittus interface, and the borrower is required to review and explicitly acknowledge it before the application progresses to sanction.
3.3 Unbiased display of loan offers. Where offers from multiple REs are presented, each offer displays: RE name, loan amount, tenor, APR, EMI, penal charges (if any), and a link to that RE’s KFS. Display is objective, without dark patterns, and does not favour any particular RE through design choices.
3.4 Cooling-off period. Borrowers may exit a sanctioned loan within the cooling-off window defined by the RE, on payment of principal plus pro-rata APR for the period used, without prepayment penalty. The window is disclosed in the KFS and an SMS / email notification is sent when it expires.
3.5 No coercion or tying. No borrower is compelled to avail any additional product, service, or insurance as a condition of loan facilitation.
3.6 No discrimination. We do not discriminate on the basis of religion, caste, gender, marital status, age, disability, or sexual orientation, except where differentiation is required by law or is inherent in the RE’s credit policy.
3.7 Digital signing. The complete loan kit (loan agreement, KFS, sanction letter, related documents) is digitally signed under the IT Act, 2000 and delivered automatically to the borrower’s registered email / SMS upon execution.
4. Fees and Pricing
4.1 No direct borrower fee for loan facilitation. The Company does not collect any processing, facilitation, or service fee directly from borrowers in respect of loans facilitated through partner REs. All LSP fees are paid by the RE.
4.2 Non-lending services. Fees for standalone services – DPR Builder, CMA Data generation, Subsidy Assessment, Business Consultation – are disclosed to the customer in advance, supported by a tax invoice issued by Vittus Fintech Private Limited. These services are distinct from loan facilitation; their availment does not imply, influence, or guarantee loan approval by any RE or subsidy eligibility under any scheme (including PMEGP, CMEGP, Mudra, KVIC). In particular, actual subsidy disbursement under government schemes is contingent on (a) sanction of the underlying loan by the designated bank or NBFC, (b) approval by the implementing agency (for example, KVIC for PMEGP or the DIC / State Nodal Agency for CMEGP), (c) completion of the mandatory Entrepreneurship Development Programme (EDP) where applicable, and (d) availability of subsidy funds from the relevant government authority. The Company’s Subsidy Assessment output is an indicative preparatory aid only and creates no entitlement to any subsidy.
4.3 Lender pricing. Interest, processing fees, penal charges, and any other loan-related charges are levied by the RE and disclosed in the KFS.
5. Data Privacy and Information Security
5.1 Purpose limitation.
Purpose limitation. We collect only the personal data reasonably necessary for loan facilitation and the RE’s credit assessment.
5.2 No cross-marketing without separate consent.
Loan data is not used to market other products or services without separate, purpose-specific, explicit consent, captured distinctly from the loan application consent.
5.3 Device permissions.
Our DLA does not access contacts, phone gallery, call logs, media files, or background location. Only the minimum permissions strictly necessary for loan facilitation (camera for video-KYC, one-time SMS for OTP) are requested.
5.4 Data localisation.
Borrower data is stored on servers located in India.
5.5 Borrower rights (DPDP Act, 2023).
Borrowers have the right to access, correct, update, erase, and withdraw consent in respect of their personal data, as set out in our Privacy Policy. Withdrawal of consent or deletion requests during an active loan process may affect the continuation of that application and is subject to statutory retention obligations.
5.6 Breach notification.
Personal data breaches are notified to affected Data Principals and the Data Protection Board of India in the manner and timelines prescribed by law.
6. Recovery Practices
6.1 Where we participate in recovery pursuant to a specific mandate from an RE, we follow the RE’s Fair Practice Code and the RBI Code of Conduct for Recovery Agents.
6.2 Before any recovery contact, the borrower receives an email / SMS identifying the authorised recovery agent.
6.3 Recovery personnel will not use intimidation, harassment, abusive language, or public shaming, and will not contact the borrower before 8:00 AM or after 7:00 PM except with the borrower’s express consent.
6.4 Any deviation observed will be investigated under our internal disciplinary policy and reported to the relevant RE.
7. Conflict of Interest and Related Entities
Vittus Fintech Private Limited is part of the Vittus group. Vittus Wealth Private Limited, a SEBI Registered Investment Adviser, is an affiliate but a separate legal entity under independent regulatory oversight. Nothing on LoanVittus constitutes investment advice. Any cross-referral between the two entities requires the borrower’s separate, explicit consent for data sharing. Such consent is captured through a separate, clearly worded in-platform consent screen – distinct from the loan application flow – and a timestamped record of the consent is maintained for audit.
8. Grievance Redressal
8.1 Any complaint may be raised with our Grievance Officer:
| Grievance Officer | Vittus Fintech Private Limited |
| Name | Jaiyash Bhutada |
| Designation | CA |
| grievance@loanvittus.com | |
| Phone | +91 7620469659 |
| Working hours | Monday to Saturday, 10:00 AM – 6:30 PM IST (Sunday closed) |
8.2 We acknowledge every complaint within 48 hours and aim to resolve within 30 days from receipt.
8.3 If the complaint is not resolved within 30 days, or the resolution is unsatisfactory, the borrower may escalate to:
• RBI Complaint Management System: https://cms.rbi.org.in
• Sachet Portal: https://sachet.rbi.org.in
• The Grievance Officer of the relevant partner RE (contact details in the KFS and loan kit).
9. Staff Training and Conduct
All our employees, agents, DSAs, and channel partners are trained on this Code, partner RE policies, KFS and disbursal rules, data privacy obligations, and the RBI DLD 2025. Breach of the Code by our personnel is dealt with under our internal disciplinary policy.
10. Review
This Code is reviewed at least annually by the Board of Directors of Vittus Fintech Private Limited, or earlier in the event of a material regulatory change or a significant change in the Company’s operations.
Vittus Fintech Private Limited
CIN: U66190MH2026PTC465595
Registered Office: 377, Nakshatra, 2nd Floor, Block B, Gandhi Nagar, Nagpur – 440010
Email: grievance@loanvittus.com | Phone: +91 7620469659