Hire Purchase Financing

In the business of Hire Purchase Finance of Motor Vehicles, we are a trusted name in vehicle financing in Ranni. Since 1995, we have provided loans with easy terms and reasonable interest rates, earning the trust of our customers.

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WELCOME TO RANNI GENERAL FINANCE

Ranni General Finance and Hire Purchase Ltd is a Non-Banking Finance Company (NBFC) engaged in the business of Hire Purchase Financing of Motor Vehicles. We are a trusted name in vehicle financing in Ranni. Ever since it commenced business in 1995, Ranni General Finance has been committed to making vehicle loans available on easy terms and very reasonable rates of interest to its customers. Noting the good quality of our services the Reserve Bank of India(RBI) gave us the registration under it as an Asset Finance Company(AFC). We have by our dedicated efforts earned the trust and respect of our customers by providing them vehicle finance at the terms and conditions which are up to their utmost satisfaction and by making all formalities and easy documentation procedures as liberal as possible from the customer's point of view.

Location

The Company is situated in the first floor of Puthenpurackal Buildings near the main bridge of Ranny in Mammukku in the Ranny Taluk of Pathanamthitta District in Kerala State.

Terms and Conditions for Granting Loans

At present, the company offers Hypothecation Loan against Vehicles. Interest % - 12 or 11, depending on the model of the vehicle. The loan amount given under the Hypothecation Loan Agreement will not exceed 60% of the market value of the vehicle at the time. The documents to be submitted to the company for obtaining loans are:

  1. Passport Size photo of Hirer and Guarantor
  2. Aadhar and PAN card copy of Hirer and Guarantor
  3. Latest Land Tax receipt of Hirer
  4. Stamp paper of Rs. 200/- for Agreement
  5. R C Book and the other documents relating to the vehicle such as insurance policy, permit etc

The company has put in place a Fair Practices Code which is as follows:

Fair Practices Code

  1. The loan application should be submitted to the company which includes name, address and other details of the Hirer, Registration Number, Model and year of manufacture of the vehicle.
  2. The company will inform the borrower the amount of loan sanctioned and the Hire Charges for various periods and the estimated monthly instalment for the period they selected.
  3. The Hirer has the right to recall or cancel the agreement at any time prematurely or otherwise by paying the loan amount and the hire charges for that period as agreed.
  4. The company will not resort to undue harassments of the borrowers for recovery of the loans.
  5. The field staff shall be trained to deal with the customers in an appropriate manner.
  6. If the Hirer does not pay the instalment amounts due under the hire purchase agreement even after many reminders by the company, the company has the right to repossess the vehicle. A penal interest of up to 18% may also be charged by the company. To avoid penal interest, the customer has to pay the estimated monthly installments regularly.
  7. A periodical review of the Fair Practices Code and functioning of the Grievance Redressal Mechanism would be undertaken by the company at regular intervals and a consolidated report of such reviews shall be submitted to the Board of Directors at regular intervals.

Grievance Redressal Officers

The company has put in place a grievance redressal mechanism by which the Grievance Redressal Officer of the company can be approached by the public for the resolution of any complaints against the company. The names and contact details of the Grievance Redressal Officers are as follows:

At First Level Mr. Joseph Kuriakose, Managing Director, Ranni General Finance & Hire Purchase Limited, Puthenpurackal Buildings, Mammukku,Ranni, Kerala, Contact No.: 9447104287
Next Higher Level Mr. Thomas Mammen, Executive Director, Ranni General Finance & Hire Purchase Limited, Puthenpurackal Buildings, Mammukku, Ranni, Kerala, Contact No.: 9447249170

A Customer may directly approach the Reserve Bank of India (RBI) in case his grievance is not redressed within one month from the date of lodgement with the Company. The name and contact details of the Officer-in-Charge of the DNBS, RBI, Thiruvananthapuram are as follows:

The General Manager
Officer-in-Charge – Grievance Redress Mechanism – DNBS – NBFC
Reserve Bank of India
Bakery Junction, Thiruvananthapuram
Kerala – 695 033

Email: dnbsthiro@rbi.org.in

Complaint Resolution Hierarchy

A Customer with any complaints against the company may first approach:

NODAL OFFICER
Mr. Abraham V Kuriakose
Contact No.: 9447270396

If the complaint is not addressed within 30 days, the customer can approach the next higher level:

MANAGING DIRECTOR
Mr. Joseph Kuriakose
Contact No.: 9447343053, 9447104287

IMPORTANT NOTICE

We have no affiliation with any other entities.

We are not providing Online/Satellite loans.

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