NBFC Regulatory Disclosures
NetZero Finance Pvt Ltd is a Non-Banking Financial Company registered with the Reserve Bank of India. The following disclosures are required under RBI's regulatory framework for NBFCs and are provided in compliance with applicable Master Directions and Circulars.
Section 1: License and Registration Information
The following information is provided for verification and due diligence purposes.
| Legal Name | NetZero Finance Pvt Ltd |
|---|---|
| Trading Name | Aerem |
| Company Registration (CIN) | U65999MH2019PTC000000 |
| NBFC Registration Number | [RBI Certificate of Registration number -- to be inserted by legal team] |
| Date of RBI Registration | [Year of Certificate of Registration -- to be inserted by legal team] |
| Type of NBFC | [NBFC classification -- to be inserted by legal team] |
| Registered Office | Mumbai, Maharashtra, India |
| Regulator | Reserve Bank of India (RBI) |
To verify our registration: Visit the RBI's NBFC registration portal at rbi.org.in and search for "NetZero Finance." All registered NBFCs are listed on the RBI's public registry.
Section 2: Nature of Business
NetZero Finance Pvt Ltd provides solar energy financing to individual and household borrowers for the installation of rooftop solar photovoltaic systems. The Company operates as a financial intermediary -- it does not manufacture, sell, or install solar panels or equipment. Installation is performed by independent certified installer partners operating under the Aerem partner program.
The Company's primary products are:
- Unsecured solar loans for individual homeowners (amounts up to Rs 10,00,000)
- PM Surya Ghar linked financing (integrated with the Government of India's residential solar scheme)
All loan products are governed by the Company's Board-approved credit policy, Fair Practice Code, and applicable RBI Master Directions.
Section 3: Interest Rate Policy
Interest rates charged by NetZero Finance Pvt Ltd are determined transparently based on the following factors:
- RBI policy repo rate (base reference)
- Customer credit profile: CIBIL score and income verification
- Loan amount and tenure
- Type of solar system and applicant category
- PM Surya Ghar linkage, where applicable
Rates above 11% apply to borrowers with lower CIBIL scores or limited credit history. Rates below 11% may apply under special programs. In no case will NetZero Finance Pvt Ltd charge an interest rate exceeding 26% per annum (as per RBI guidelines for NBFC lending).
Rate disclosure: The applicable interest rate is communicated to each borrower in the loan sanction letter before disbursement. The borrower may decline the loan after receiving the sanction letter without penalty.
Other charges: Processing fee (if any), prepayment terms, and other charges are disclosed in the loan sanction letter. These charges are fixed and disclosed before sanction. There are no hidden charges.
Section 4: KYC and AML Compliance
NetZero Finance Pvt Ltd complies with the Reserve Bank of India's Master Direction on Know Your Customer (KYC) Direction, 2016, as updated. We collect and verify customer identification and address documents in accordance with RBI KYC norms.
KYC documents required for loan processing:
- PAN (Permanent Account Number): mandatory for all loan amounts above Rs 50,000
- Aadhaar-based eKYC: for identity and address verification (customer consent required)
- Income proof: salary slips, Form 16, or ITR for the preceding financial year
- Property proof: electricity bill or ownership document for the property at which the solar system will be installed
The Company complies with the Prevention of Money Laundering Act (PMLA), 2002, and reports suspicious transactions to the Financial Intelligence Unit -- India (FIU-IND) as required. Customer data collected for KYC purposes is retained for a minimum of 5 years from the date of account closure, as required by RBI KYC Master Direction.
Section 5: Borrower Rights
As an NBFC borrower, you have the following rights:
- To receive a loan sanction letter before disbursement, containing all loan terms in writing
- To decline the loan after receiving the sanction letter without penalty
- To prepay the loan at any time without prepayment penalty (see Fair Practice Code)
- To receive a statement of account on request
- To raise a grievance and receive a response within 30 working days
- To escalate to the RBI Ombudsman if your grievance is not resolved within 30 working days
- To receive a No Objection Certificate (NOC) within 7 working days of full loan repayment
- To not be subjected to harassment, intimidation, or calls before 8:00 AM or after 7:00 PM by recovery agents