This document is a customer debit authorization form for a loan from HDFC Bank. The customer requests that the bank set up a standing instruction to automatically debit their bank account each month for the loan repayment amount. The customer agrees to maintain sufficient balances to cover the loan payments. They also understand that failure to repay through this automatic debit could result in default charges. The form provides an irrevocable authorization for the bank to debit the loan repayment amounts in accordance with the loan agreement terms.
This document is a customer debit authorization form for a loan from HDFC Bank. The customer requests that the bank set up a standing instruction to automatically debit their bank account each month for the loan repayment amount. The customer agrees to maintain sufficient balances to cover the loan payments. They also understand that failure to repay through this automatic debit could result in default charges. The form provides an irrevocable authorization for the bank to debit the loan repayment amounts in accordance with the loan agreement terms.
This document is a customer debit authorization form for a loan from HDFC Bank. The customer requests that the bank set up a standing instruction to automatically debit their bank account each month for the loan repayment amount. The customer agrees to maintain sufficient balances to cover the loan payments. They also understand that failure to repay through this automatic debit could result in default charges. The form provides an irrevocable authorization for the bank to debit the loan repayment amounts in accordance with the loan agreement terms.
This document is a customer debit authorization form for a loan from HDFC Bank. The customer requests that the bank set up a standing instruction to automatically debit their bank account each month for the loan repayment amount. The customer agrees to maintain sufficient balances to cover the loan payments. They also understand that failure to repay through this automatic debit could result in default charges. The form provides an irrevocable authorization for the bank to debit the loan repayment amounts in accordance with the loan agreement terms.
I have taken a _______________ loan from HDFC Bank and would like to avail of the Standing Instruction facility offered by your bank to make repayments towards my loan.
I, therefore, request you to accept this mandate to debit my Account Number
towards recovery of repayment dues of my loan account as per due dates & terms and conditions mentioned in the loan agreement schedule or as per revised instructions basis requirements as communicated from my end in line with the Bank’s policy.
I undertake to maintain sufficient balances to cover the Loan Repayment Dues (and charges, if any) on the stipulated due dates. I also understand that failure to repay my loan amount through this standing instruction shall be treated as a default in repayment of dues and all charges/penalties/levies as covered by the agreement will hold good towards the non payment of obligations.
Please treat this as an irrevocable communication as an authorization to debit my account every month with the required amounts towards the repayment of my loan.
In the event of the above account getting closed/transferred for any reason, I/We will intimate to the Bank the new account opened with the bank to debit the Loan Repayment Amounts as per the agreement. Further, I/We undertake the responsibility to provide the fresh set of Mandate and security PDCs for such new account, as per terms of the agreement in lieu of existing instructions.
I also understand and accept that the Bank will have the right to set-off, without prior intimation to me, the available balances in the designated account for recovery of overdue installments and/or charges (if any) in the loan account.
Thanking you, Yours truly,
(Signature of Account Holder) (Name of the Account Holder)
………………………………………………………………………………………………………………………………………….. VERIFIED O Customer Account Number O Customer Signature O Customer Account Status is Active O Mode of Operation Verified (Seal and Signature of HDFC Bank Official)
