Loan company terms and conditions form the legally binding contract between you and your lender. They outline your exact financial obligations, fees, repayment schedules, and the consequences of defaulting. Understanding these rules protects your credit health and prevents unexpected financial penalties.
I agree to abide by the Company Terms and Conditions and rules in force and the changes thereto in Terms and Conditions from time to time relating to my loan account as communicated and made available on the Company website.
I agree that any change in mailing address will be immediately informed to the Company failing which I shall be responsible for any non-receipt of communication/deliverables or the same being delivered at my old address.
I agree that no discount or free gift or any other commitment whatsoever is given to me/ us by the Company or any of its authorized representative(s) other than what is not documented in this application form the Terms and Conditions/ Agreement pursuant to the Loan
I agree that Loan processing and disbursement will take at least 4 working days post submission of all requisite documents and information as may be required by the Company as per Company criteria.
I agree that submission of loan application to your \company does not imply automatic approval by the company and the company will decide the quantum of the loan at its sole and absolute discretion. The company in its sole and absolute discretion may either sanction or reject the application for granting the loan. In case of rejection, the company shall not be required to give any reason.
The repayment of loan should be either by inward remittance from outside India or by debit to account of the borrower and/or out of sale proceeds realised through securities offered for the loans. Further, these loans can also be repaid by any relative (as defined under Companies Act) of the borrower in India through account to account transfer. The funds credited in Customer's account shall be used for the purpose for which loan has been applied and will not be used for.
I seek from the Company various financial assistance, other products and services for which I may be found eligible by the Company from time to time, at any time in future, including after closure of any of my existing or future relationships, accounts, products, facilities, loans, services with or from the Company from time to time, for which purpose I authorise the Company to share any of my Information (as defined hereinafter) with any credit information companies and obtain various scores, reports and information for determining my credit worthiness from them, and accordingly to contact me or cross sell to me from time to time.
I hereby authorize and give consent to the company to disclose, without notice to me/ us, information furnished by me/ us in the application form(s)/ related documents executed/ to be executed in relation to the facilities to be availed by me/ us from the company, to the company other branches/ subsidiaries/ affiliates/ Credit Bureaus/ Rating Agencies/ Service Providers, company/ financial institutions, governmental/ regulatory authorities or third parties for information verification, credit risk analysis, or for other related purposes that the company may deem fit. I/ We waive the privilege of privacy and privity of contract
I hereby unconditionally, agree that these terms may be changed by the company at any time and I / We will be bound by the amended terms and conditions.I hereby unconditionally, agree that these terms may be changed by the company at any time and I / We will be bound by the amended terms and conditions.
I agree that the company may disclose, in strict confidence, to other institutions, such Personal Information as may be reasonably necessary for reasons inclusive of:
I understand that as a pre-condition, relating to grant of the loans/ advances/ other fund-based and non-fund-based credit facilities to me, the company, requires my consent for the disclosure by the company of information and data relating to me, of the credit facility availed of/to be availed, by me, obligations assumed/ to be assumed, by me, in relation thereto and default, if any, committed by me, in discharge thereof. Accordingly, I, hereby agree and give consent for the disclosure by the company of all or any such,
The rate of interest ranges from 3 % to 8% .
The higher the rate of interest you choose, the lower the tenure and the lower the interest rate, the higher.
Loan payment modes determine how frequently you repay your principal and interest to a lender. The most common modes are *Monthly, Quarterly, Half-Yearly, and Yearly.* The frequency you choose dictates the size of your installments and the overall interest accumulated on your loan.
The loan tenure for home loans, loans against property, business loans, or project loans is typically 20 years, whereas for personal loans or car loans, it ranges from 1 to 10 years. Extending the loan tenure to 20 years significantly reduces your monthly EMI, but it increases the total interest payable over the entire loan period.
Loan file processing fee: A fee charged by the company for the scrutiny and processing of the loan file, which typically ranges from 0.5% to 3%.
Loan pending repayment fees generally refer to charges incurred when a borrower fails to make an installment (EMI) on time
Foreclosure charges (also known as prepayment penalties) are fees levied by lenders when you pay off your loan in full before its scheduled tenure ends. Lenders charge this fee to compensate for the loss of expected interest income over the original life of the loan.
If no customer gives any response in 30 days video about their loan process the file is automatically canceled by the company
If a loan agent submits a loan file to the company, the company pays a commission ranging from 3% to 5%.
If a loan agent submits five consecutive loan files to the company, the company offers them a DSA .
All fees charged by the company are refundable and are returned within 10 days of the file being completed.
I hereby agree and declare that the details furnished above are true and correct to the best of my knowledge and belief and I undertake to inform you of any changes therein, immediately. Incase any of the above information is found to be false or untrue or misleading or misrepresenting, I am aware that I may be held liable for it