FOR PERSONAL LOANS (MITC)

IDFC BAN K

THE MOST IMPORTANT TERMS AND CONDITIONS (MITC) FOR PERSONAL LOANS

The Most Important Terms and Conditions (MITC) of the loan between the Borrower/s and IDFC Bank Limited, a banking company
incorporated under the Companies Act, 2013 and having its registered office at IDFC BANK LIMITED, KRM Tower, 7th Floor, No.
1, Harrington Road, Chetpet, Chennai - 600031. Tamilnadu, INDIA, hereinafter called “IDFC Bank” are mentioned below and are to
be read and understood in conjunction with the terms contained in the Sanction Letter and the Loan Agreement and other
documents which you have executed/will execute with IDFC Bank (collectively referred as‘ Transaction documents’).The MITC
mentioned here are merely indicative and not exhaustive. The Loan shall be governed by the Transaction Documents including
the Loan Agreement.

1. LOAN
Loan shall mean the credit facility sought to be availed by the Borrower from IDFC Bank.

RATE OF INTEREST
a) Fixed Rate Term Loan: Means the specific rate of interest applicable to the loan for specific tenure. The rate would apply
on the reducing balance through the repayment period.
b) Personal Loan Saver: Borrowers can avail an OD in conjunction with a Personal Loan as per the terms & conditions; Fees
& Interest charges of IDFC Bank OD product.

TENURE
The Loan can be repaid over a maximum period of 5 years subject to the age, riskprofile, and the specific product availed
by the Borrower(s).

2. INSURANCE OF THE LOAN

The Borrower(s) can avail insurance cover against the risk of death, permanent disability or critical illness to the Borrower,
with IDFC Bank as sole beneficiary and submit to IDFC Bank original insurance policy document(s) and premium/payment
receipts thereof. The insurance policy may be availed from a Bank enlisted insurance service provider.

3. CONDITIONS FOR DISBURSEMENT OF THE LOAN

IDFC Bank may not disburse at any time; any amount under the Loan unless the following conditions are complied with in
the sole discretion of IDFC Bank:
a) The Loan Agreement/Terms & Conditions is/are duly executed and delivered to IDFC Bank by the Borrower(s).
b) The Borrower’s submission to the satisfaction of IDFC Bank all required documents indicating his/her/their
employment status, financial status, and valid KYC documents, as per the Bank’s policy.
c) The Borrower’s submission of any other document or writing as IDFC Bank may require at its sole discretion.

4. REPAYMENT OF LOAN AND INTEREST

The Loan (including the principal, interest thereon and any other charges, premium, fees, taxes levies or other dues payable
by the Borrower to IDFC Bank shall be repayable by the Borrower to IDFC Bank
a) At the Branch (or at any other branch of IDFC Bank or at any other place as may be notified by IDFC Bank) by way of
standing instruction (SI) and/or or in any other manner as IDFC Bank may specify from time to time in writing
b) By way of EMI towards repayment of principal and interest through SI/NACH etc.

5. PREPAYMENT OF LOAN
IDFC Bank may, at its sole discretion and on such terms as it may prescribe from time to time, permit pre-payment or
acceleration of EMIs at the request of the Borrower. Subject to the applicable laws and if permitted by IDFC Bank, the
Borrower shall pay to IDFC Bank such pre-payment charges as may be announced by IDFC Bank, and as amended from time
to time in line with regulatory guidelines.

6. BRIEF PROCEDURE TO BE FOLLOWED FOR RECOVERY OF OVERDUES

On occurrence of any default IDFC Bank shall have the right: -
a) To recover the entire dues.
b) Take any other action as it may deem fit for recovery of its dues, governed by the regulatory guidelines.

7. CUSTOMER SERVICES
a) Please feel free to contact us on 1800 419 4332 or write to us at [email protected] for any clarifications/assistance
b) Contact IDFC Bank’s Customer Service Officer at your nearest branch within the working hours for:
i) Photo copies of documents, which can be provided in 10 working days from date of placing request.
ii) Loan closure letter would issued within 15 working days from the date of Closure/Foreclosure.
IDFC Bank may disclose any information/documents relating to the Borrower to any third party for the purposes of credit
verification/credit reporting including CIBIL, regulatory or promotional purpose. Also IDFC Bank may send SMS to you
mobile/ e-mail you for information & updates pertaining to your loan and any other products or services being ordered/
introduced by IDFC Bank and/or its group companies

8. GRIEVANCE REDRESSAL
There can be instances where the Borrower is not satisfied with the services provided. To highlight such instances &
register a complaint; the Borrower may follow the following process:

a) The Borrower can complain to customer care on our website www.idfcbank.com

b) Borrower can write to the Nodal Officer in case of resolutions not meeting their expectation at [email protected]
or contact the Nodal Officer on the 24X7 helpline - 1800 419 2332

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 IDFC BAN K

9. IDFC BANK PERSONAL LOANS – SCHEDULE OF CHARGES

S.NO ITEMS FEES/CHARGES REMARKS

1 PROCESSING FEES Up to 2.0% of loan amount Processing Fees will be deducted from the
loan amount at the time of disbursal
2 OTHER CHARGES
a EMI Bounce Charges Rs. 500 For each presentation dishonoured
b Repayment instrument swap charges Rs. 500 Per change request
c Statement of Account (Adhoc/Duplicate) Nil
d Duplicate No Objection certificate/No Rs. 100 Per request, in addition to Bank's issued
Due Certificate letter

e Disbursement cancellation Rs. 500 per cancellation On specific request and within 5 working
days of loan disbursal, processing fees to
be retained by the Bank
3 CHARGES ON ACCOUNT OF DELAYED PAYMENTS/DEFAULTS
2.5% per month. Overdue Interest is levied in case of non-payment of the monthly
a Overdue Interest payment. It is charged on the overdue instalment for the defaulted period.
Incidental charges & expenses are levied to cover the costs, charges, expenses
b Incidental charges & Expenses and other monies that may have been expended in connection with recovery
of dues from a defaulting customer. Charged on actuals.
4 PART PREPAYMENT FEES
a Part Prepayment Facility not available for
Simple Personal Loans Not applicable Simple Personal Loans
NIL - For part prepayment up to Any part prepayment will be allowed after
b Smart Personal Loans payment of the third EMI
40% of loan amount in a year
5 FORECLOSURE CHARGES

a Simple Personal Loans 3% on Principal Outstanding, Foreclosure will be allowed after the
at the time of loan closure payment of the third EMI
b Smart Personal Loans
Interest Rate on your loan will be the rate as applicable at the time of signing the
6 INTEREST RATE loan agreement basis actuals. Interest for the month will be charged on the EMI
cycle basis loan outstanding on daily basis for actual number of days in a month.

7 REGISTRATION CHARGES Agreement registration charges will be on actuals, to be deducted from the
loan amount at the time of disbursal
All fees/charges to be paid shall be exclusive of goods and services tax (GST), as may be applicable. The Services accounting code would be provided
by IDFC Bank and shall be binding on customer.
In case customer is related person to IDFC Bank, Goods and Services Tax (GST), as may be applicable, needs to be paid by customer.
Note: The above stipulated Schedule of Charges is subject to be revised from time to time by the Bank as will be updated on the official website of the Bank.
DOCUMENTS SUBMITTED
Documents Details Documents Details
PAN Card Age proof
Identity proof (OVD*) Last 3 month’s salary slips
Address proof (OVD*) Last 6 month’s bank statement
* Please help us with any of the following Officially Valid Documents (OVD) for Identity/Address Proof:
Aadhaar/Driving License/PAN/Passport/Voter ID/NREGA Card

Disclaimer: The application will be processed within 5 days on a best effort basis, on receipt of all the required documents
mentioned above. The document requirements given above are indicative and IDFC Bank Ltd. reserves the right to request further
documents, if required. This document is not to be construed as a commitment from IDFC Bank Ltd. either expressed or implied.

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