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    Sanction Letter

    Uploaded by

    Kundan Kumar
    Sanction letter

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Sanction Letter

    Uploaded by

    Kundan Kumar
    7 views2 pages
    Sanction letter

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    sanction_letter_c4a8d386-22f0-4f88-b027-505fe744c763 (1)

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    Sanction letter

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    7 views2 pages

    Sanction Letter

    Uploaded by

    Kundan Kumar
    Sanction letter

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    01/09/2022

    Dear KUNDAN KUMAR,

    It brings us immense pleasure to inform you that your loan application under the product "Instalment Billing Pay
    Later" has been accepted.

    We wish to sanction the loan based on the terms and conditions as specified under this Sanction Letter:

    1 Loan application date : 01/09/2022


    2 Details of Borrower : KUNDAN KUMAR
    3 Validity period of this offer : 30 days from the date of this letter
    4 Amount sanctioned : 7500.0
    5 Validity period : 5 years
    6 Rate of Interest* : Not exceeding 24% p.a
    Processing fee (including
    7 : NA
    GST)
    8 Repayment : As per repayment schedule enclosed when a tranche is made
    9 Monthly Installment Amount : To be shared when a tranche is made
    10 Prepayment charges : NA
    Payment (EMI) dishonor Rs. 500 + GST @ 18% per dishonor of NACH/e-NACH / DDM/e-DDM
    11 :
    charges /SI/Cheque
    12 Other charges : NA
    13 Documentation : KYC Documents, NACH/DDM/SI mandate
    14 Loan Disbursement : Post completion of the document you will be eligible for the loan.
    15 Pre EMI Component : NA

    Annexure - 1
    Please note the following details pertaining to the loan to be availed by the Borrower that require further attention.

    Lender
    CapFloat Financial Services Private Limited (operating under brand name "axio") and The Karur Vysya Bank Limited
    (hereinafter referred to as the "KVB") shall, for the purpose of this letter, be deemed as the lenders.

    Mode of Repayment
    Repayment will be via e-NACH/DDM/SI/Cheque and as decided by the company from time to time.

    Disbursal
    The Borrower shall be entitled to request a disbursement of the Credit Facility Amount for each Facility in multiple
    tranches (each, a "Loan") during the Availability. axio shall have the right, to refuse disbursement of the Credit
    Facility / Loan.

    Billing Cycle
    Billing cycle is 15th of every month and payment due date is 5th of every successive month

    Applicable Charges
    Description Payable amount/value Payable when
    Cheque bounce Rs. 500/- plus GST @ 18% per If NACH /e-NACH/ Cheque / SI / DDM / e-DDM is
    charge dishonour dishonored by bank
    Processing and Documentation & Handling Charges
    NIL

    Description Details
    Amount Sanctioned 7500.0
    Tenure (years) 5 Years

    Sanction Conditions

    1. Loan agreement execution & disbursal is subject to satisfactory verification of original KYC documents.
    2. Successful NACH/e-NACH/DDM/e-DDM/SI registration

    Customer Support
    In the case of any queries or assistance required, you can write to us at [email protected] or call us at 080 6807 5001
    For details on our Grievance Redressal Mechanism please read through our policy https://axio.co.in/wp-
    content/uploads/2022/06/axio-_-Grievance-Redressal-Policy.pdf

    Annexure - 2
    Legal
    The grant of loan by axio and the availing of such loan by the Borrower shall be governed by and at all times, be
    subject to, the terms of the said Loan Agreement executed between the Lenders, axio and the Borrower. This
    Sanction Letter forms part of the Loan Agreement accepted by you and constitutes the Facility Schedule specified
    under the Loan Agreement. It is clarified that in the event of a conflict between one or more terms of this sanction
    letter and the Loan Agreement, the terms of the Loan Agreement or the applicable law shall prevail to the extent of
    such conflict.
    Nothing in this letter obligates the Lenders and axio and to advance any loan to the Borrower till such time that the
    Loan Agreement has been executed and the terms of such Loan Agreement fulfilled to the satisfaction of axio.
    axio shall be at liberty to novate & assign, without the consent of the Borrower, the whole of or any part of the loan,
    including all rights, benefits and interests thereunder, to any other third party, in accordance with applicable law.
    This sanction shall stand revoked and cancelled without any notice, if there are material changes in the Borrowers
    financial performance, any material facts concerning the Borrowers profits or its ability to make payments under this
    loan agreement or any relevant aspects of its request for loan facility are withheld, suppressed, concealed, or are
    found to be incorrect or untrue.
    Except to the extent disclosed to axio, no director or a relative (as specified by RBI) of a director of a banking
    company (as specified by RBI) or a relative of a senior officer of axio is - the applicant(s), or a partner, managing
    agent, manager, employee, director of our concern, or of our subsidiary or our holding company, or a guarantor on
    my/our behalf, or holds substantial interest in our concern or my/our subsidiary or holding company.

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