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 upto 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 charges interest at the rate of 12.5%.p.a. for the loans given under the Hire Purchase Agreement. The loan amount given by way of the Hire Purchase 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 photos of Hirer and Guarantor.
  2. Stamp Paper of Rs.100 for Agreement.
  3. Identity card copy of Hirer and Guarantor.
  4. Copy of latest receipt of land tax paid by Hirer.
  5. Vehicle's 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.

The company has also 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. T.C. Joseph Director Ranni General Finance & Hire Purchase Limited Puthenpurackal Buildings, Mammukku, Ranni, Kerala Contact No.: 9447256345
Next Higher Level Mr. Thomas Mammen Managing Director Ranni General Finance & Hire Purchase Limited Puthenpurackal Buildings Mammukku, Ranni, Kerala Contact No.: 9447249170

A Customer may directly approach the 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 is as follows:


The General Manager,
Officer in Charge - Grievance Redress Mechanism - DNBS - NBFC
Reserve Bank of India, Bakery Junction, Thiruvananthapuram
Kerala - 695 033
Email Address : dnbsthiro@rbi.org.in

IMPORTANT NOTICE

We have no affiliation with any other entities.

We are not providing Online/Satellite loan.