IVR for banks, NBFCs and lenders

IVR for banks, NBFCs and digital lenders

Separate EMI queries, foreclosure requests and grievances on one helpline, record every conversation and give borrowers a documented route to your grievance officer.

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NBFCs and housing finance companiesMicrofinance institutionsDigital lending apps and their partnersCo-operative banks and credit societiesGold loan and two-wheeler finance companies

Lender IVR menu with options for EMI queries, statement or NOC, new loans and complaints, with the complaint option selected

How do NBFCs and lenders use IVR?

NBFCs and lenders use IVR to sort borrower calls by need: EMI and bounce charges, statements and NOCs, foreclosure, new loan enquiries and grievances. Each option rings a trained team, calls are recorded for audit, field collection agents call through masked numbers, and every keypress and call outcome is posted to the loan management system by webhook.

Updated 15 Nov 2026

Key facts: IVR for banks, NBFCs and lenders

Channel: IVR
Best for: Borrower service menu; Grievance escalation line; Recorded service and collection calls
IVR features: Inbound menu, Call routing, Call recording, Call masking, Webhook to CRM, After-hours
Who it suits: NBFCs and housing finance companies, Microfinance institutions, Digital lending apps and their partners, Co-operative banks and credit societies, Gold loan and two-wheeler finance companies
Numbers: Toll-free (1800), virtual numbers, or IVR on your existing number where supported. Toll-free numbers
Pricing model: Monthly number rental plus usage for call minutes. How pricing works
Integration: REST API and webhooks (ivr.input, call.completed, call.missed) into your own software. IVR API

What goes wrong on a lender's phone lines?

Every call lands on the same deskA borrower asking for a foreclosure letter waits behind ten callers disputing bounce charges, and a fresh loan lead hangs up before anyone answers.

No record when a borrower complainsWhen a customer says a collection agent was rude or promised a waiver, there is no recording to check what was actually said.

Agents using personal mobilesField collection staff call borrowers from their own phones, so calls are untracked, numbers leak and a resigned agent keeps the contacts.

How do lenders use IVR on their helpline?

Inbound menu

Borrower service menuOptions for EMI and charges, statement or NOC, foreclosure, new loans and grievances, with a sub-menu by product such as home, personal or gold loan.→ Calls reach the right desk first time

Call routing

Grievance escalation lineA dedicated option rings the grievance team, and repeat callers are routed straight to the officer handling their complaint using sticky agent.→ A clear, auditable grievance route

Call recording

Recorded service and collection callsEvery inbound call and every masked collection call is recorded and linked to the loan account for quality checks and dispute review.→ Evidence when conduct is questioned

Call masking

Masked calls for field collectionField and tele-collection agents reach borrowers through a virtual number, so the agent's mobile stays private and the call sits in your reports.→ No calls from untracked phones

Webhook to CRM

Loan enquiry lead captureThe new loan option creates a lead in your LOS with the caller number and product chosen, before the sales agent even picks up.→ No unlogged loan enquiries

After-hours

After-hours message and callbackCalls outside service hours hear the timings and the fraud reporting line, and missed callers are queued for a callback next working morning.→ No borrower left without a route

IVR menu scripts for lenders

Copy, edit and use these as a starting point.

Main borrower menuInbound menu

Welcome to Kavach Finserv. This call may be recorded for quality and training. We will never ask for your OTP, PIN or password.
For EMI, bounce charges or payment queries, press 1.
For statement, NOC or foreclosure, press 2.
To apply for a new loan, press 3.
To register a complaint, press 4.
To hear this again, press 9.

Grievance optionCall routing

You have chosen to register a complaint. Please keep your loan account number ready. Your call is being connected to our grievance desk. If you are not satisfied with the resolution, you can write to our grievance redressal officer; the details are on our website and in your loan agreement.

Closed hoursAfter-hours

Thank you for calling Kavach Finserv. Our customer service is open Monday to Saturday, 9:30 am to 6:30 pm. To pay your EMI now, use the link in your SMS or our app. If you suspect fraud on your account, press 1 to reach our fraud line. Otherwise, we will call you back on the next working day.

Record these prompts in your own voice or use text-to-speech in the MsgClub panel.

How does an IVR work for banks, NBFCs and lenders?

The borrower calls your helplineA toll-free or virtual number printed on the sanction letter, app and SMS answers with a recording notice and an anti-fraud line.
The menu sorts the reasonEMI, documents, new loans and grievances go to separate teams, each with several agent numbers so calls do not ring out.
The call is recorded and routedRecording starts automatically and returning complainants reach the same officer through sticky agent.
The LMS gets the outcomeivr.input and call.completed webhooks post the option, agent, duration and recording link against the loan account.

Connect your softwareYour loan management or loan origination system can match the caller number to a loan account from the ivr.input webhook, show the account to the agent and store the call.completed recording link on the account timeline. IVR API · API and webhooks · Pricing

ComplianceRBI expects lenders and their recovery agents to contact borrowers only between 8 am and 7 pm and to treat them courteously, so schedule IVR callbacks and masked collection calls inside that window and keep recordings. Under TRAI's numbering rules, RBI-regulated lenders make service and collection calls from 1600-series numbers, so confirm the number type for masked outbound calls before launch. Never collect OTPs, PINs or full card numbers through the IVR keypad.

Which other channels suit banks, NBFCs and lenders?

Use them together from one account, with shared contacts, reports and webhooks.

SMS for banks, NBFCs and lendersHow do NBFCs and lenders use SMS?See SMS

WhatsApp for banks, NBFCs and lendersHow do NBFCs use WhatsApp for EMI reminders?See WhatsApp

RCS for banks, NBFCs and lendersHow do NBFCs and lenders use RCS messaging?See RCS

Voice broadcast for banks, NBFCs and lendersHow do NBFCs use voice broadcast for EMI reminders?See Voice broadcast

Missed call for banks, NBFCs and lendersHow do banks and NBFCs use missed call numbers?See Missed call

AI calling for banks, NBFCs and lendersTwo-way AI agents that talk to callers in Hindi, English and other Indian languages, unlike a recorded message.See AI Voice

Compare every channel for banks, NBFCs and lenders

Questions about IVR for banks, NBFCs and lenders

Can an NBFC record borrower calls on IVR?

Yes. Lenders commonly record all helpline and collection calls for quality, training and dispute review. Play a short notice at the start of the menu, link each recording to the loan account, restrict who can play it and set a retention period that matches your audit and DPDP obligations.

Do RBI calling hours apply to IVR callbacks?

Yes, treat them as applying. RBI's recovery conduct norms limit calls to borrowers to 8 am to 7 pm, so any callback, missed-call follow-up or masked collection call your team places should be scheduled inside that window, even if the borrower called in late at night.

How do we stop collection agents using personal phones?

Use call masking. Agents dial borrowers through a virtual number from the panel or your collection app, so the borrower sees a company number, the agent's mobile stays private and every call is logged and recorded against the account in one place.

Should a lender's IVR ask for the loan account number?

It can, as a keypad input after the menu choice, and the digits reach your system in the ivr.input webhook so the agent sees the account when the call connects. Never ask for OTPs, PINs, passwords or full card numbers on the IVR.

Can IVR replace calling borrowers for EMI reminders?

No, IVR is built for inbound calls. For outbound EMI and due-date reminders, AI Voice agents can hold a short conversation in Hindi or regional languages and record a promise-to-pay, and voice broadcast suits simple recorded reminders. Keep both inside RBI's calling hours.

Can we show a grievance escalation route on the IVR?

Yes. Give complaints their own menu option, route repeat callers to the same officer and mention in the prompt where borrowers can escalate in writing. Call reports then show how many grievance calls came in, how many were answered and how long each one took.