Nivara’s customer acceptance policy shall be governed by the following principles:

  • No account is opened in anonymous or fictitious/benami name(s). In fact Nivara will establish proper identity credentials at the prospect stage itself
  • The pursuance of such prospects and nature of information/documentation sought will be based on the risk classification derived primarily from two criteria viz. those with documented income, those whose income is either undocumented or needs to be assessed based on other supporting evidence
  • In the rare instance where an existing customer’s data/information furnished is found to be unreliable/incorrect Nivara may choose to close the account with due notice
  • Where necessary, Nivara may at its discretion identify and communicate circumstances under which customers can open account on behalf of another person/ entity without in anyway diluting the letter and spirit of the provisions in this note
  • Prior to establishing or opening an account all necessary checks will be undertaken including institutional credit checks, de-dupe checks, negative list as per policy or as per communication by regulatory authorities from time to time.

Nivara will seek documentation that is relevant and based on its risk assessment of the prospective customer.

Nivara will identify and classify customers based on their risk profile. As a general rule, individuals and entities whose identities and sources of wealth can be easily identified and transactions in whose accounts by and large conform to the known profile, may be categorized as low risk. Customers that is likely to pose a higher than average risk to the HFC may be categorized as medium or high risk depending on customer's track record, nature and location of activity, sources of income and overall profile. Nivara will apply enhanced due diligence measures based on such risk assessment, especially those for whom the sources of income are not documented.

Nivara is bound by its mission of “Housing for All” and to that extent policies would in fact try to ensure more inclusiveness with respect to the segments of societies we would extend housing finance.

© 2016 Nivara Home Finance Limited. All Rights Reserved.