Frequently asked questions

Yes. Basel Investments Limited holds Certificate of Registration No. B-06.00059, granted under Section 45-IA of the Reserve Bank of India Act, 1934 by the Reserve Bank of India, Department of Non-Banking Supervision, Chandigarh Regional Office. The certificate is dated 30 March 2011 and was issued in lieu of the company's earlier certificate dated 18 March 1998. Registration means the company is authorised to carry on the business of a non-banking financial institution; it is not an endorsement by the Reserve Bank of any product, and the Reserve Bank does not accept responsibility for the company's obligations.

No. Basel is a non-deposit-taking NBFC. The Certificate of Registration is expressly marked "not valid for accepting public deposits". Basel does not solicit, accept or hold deposits from the public in any form, and no person is authorised to accept money on its behalf as a deposit.

The company was incorporated on 10 April 1989 with the Registrar of Companies, Chandigarh, under the name Chandigarh Deposits Limited, and was subsequently renamed Basel Investments Limited.

Basel Investments Limited. The loan is made from Basel's own balance sheet and disbursed from Basel's own accounts directly to the borrower's verified bank account. No money passes through an account controlled by a Lending Service Provider. Basel is named as the lender on every material screen and in every document.

A Lending Service Provider (LSP) is an agent engaged by a lender to perform functions such as sourcing customers, supporting verification, servicing the loan and pursuing recovery. The LSP does not lend and does not hold the loan. Basel remains responsible for the loan, for the conduct of the LSP, and for resolving any complaint that arises. The LSPs Basel engages, and the functions each performs, are published on our Digital Lending Disclosures page.

Before you accept anything. A Key Facts Statement is presented before the loan contract is executed and states the amount sanctioned, the amount you will actually receive after the processing fee and GST are deducted, the rate of interest, the all-inclusive Annual Percentage Rate, the total amount repayable, the repayment schedule, the cooling-off period and the grievance route. Our personal loans carry a high cost of credit relative to longer-tenure secured borrowing; the APR is disclosed as a figure in its own right precisely so that cost is not left to be inferred.

Because the APR carries the processing fee and the GST on it as well as the interest, and because it is expressed against the amount you actually receive rather than the amount sanctioned. It is also scaled to a full year. On a short-tenure loan a one-off fee is annualised across very few days, which raises the APR sharply even though nothing about the pricing has changed. Shortening the same loan by a single day moves the figure. The APR is the honest measure of what the credit costs; the rate of interest alone is not.

Yes. A cooling-off period runs from disbursal: 3 days if your loan is for 30 days or less, and 7 days if it runs longer. If you exit within the window you repay the amount sanctioned. No interest for the days you held the money, and no penalty of any kind. The processing fee and its GST were deducted before the money reached you and are not refunded. Exercising this right is not a default and is not reported to any credit information company as one. The Reserve Bank of India requires only that a lender's board fix this period and that it be no shorter than one day, so both of our windows are longer than the rules demand.

Not on Basel's unsecured personal loans: there is no foreclosure or prepayment charge on them at any time. After the cooling-off window, settling early costs the principal plus interest for the days you actually held the loan, and interest you have not yet run up is not charged. While a loan is overdue, foreclosure is withdrawn and you are asked to clear the arrears first. Some secured loans carry a foreclosure charge, which is shown in the schedule of charges and your Key Facts Statement. No foreclosure or prepayment charge is ever levied on a floating-rate loan to an individual for a purpose other than business, as the Reserve Bank of India requires.

A penal charge of 0.15% per day applies to overdue principal only. It does not compound the interest, and it is always shown to you as a rupee amount rather than a rate you have to compute. Missed repayments are reported to credit information companies and will affect your credit record.

No. Auto-debit may be offered but is never mandatory. A manual repayment path is available on every personal loan, and declining or skipping auto-debit does not affect your loan.

Through reminders in the application, by SMS and by email; by telephone contact from our own staff or an appointed agent; by a field visit from an agent named to you in writing beforehand; and, if necessary, by legal notice and recovery through arbitration or the courts. Recovery is conducted within the hours and standards set out in our Fair Practices Code. Any agent authorised to approach you is named in your Key Facts Statement.

Only what is needed to assess and service your loan, and only with your express consent, which is taken before collection and may be withdrawn. Data is stored in India. Biometric data is not collected or stored except where the law requires it. Our Privacy Policy sets out the categories of data, the purpose of each and every third party permitted to collect or receive it.

Yes. Consent to the collection and use of your personal data is withdrawable. Withdrawing consent may mean we can no longer service an application or a live loan, and we will tell you plainly what the consequence is before you act on it.

Start with the Grievance Redressal Officer of the Lending Service Provider whose app you used. That route is reachable from every screen of the app. If it is not resolved, or you are not satisfied, escalate to the Lending Service Provider's Nodal Officer, then to Basel's own Grievance Redressal Officer, and then to our Nodal Officer. Full contact details and the timeframe at each level are on our Grievance Redressal page.

We acknowledge every complaint within 7 days and resolve it within 30 days of first receiving it. If we have not replied within 30 days, or you are not satisfied with the reply, you may complain to the RBI Ombudsman through the Complaint Management System at cms.rbi.org.in under the Reserve Bank - Integrated Ombudsman Scheme, 2026. You must do so within 90 days of those 30 days ending, or of our last reply to you, whichever is later, and you must have complained to us first. You may also record information about the company on the RBI's Sachet portal at sachet.rbi.org.in.

Check our Digital Lending Disclosures page, which names every Digital Lending Application and every Lending Service Provider we work with. Any application or agent not named there is not acting for Basel. Basel and its agents never ask for a fee to release a sanctioned loan, never ask for your OTP, card PIN or net-banking password, and never ask you to transfer money to an individual's account. See our Customer & Fraud Awareness page.