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    Money Tap

    Uploaded by

    Vihaan Sharma

    Copyright:

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

    Money Tap

    Uploaded by

    Vihaan Sharma
    98 views3 pages

    Original Title

    Money tap

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    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    98 views3 pages

    Money Tap

    Uploaded by

    Vihaan Sharma

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Name of the Regulated entity: Cholamandalam Investment and Finance Company Ltd

    Applicant Name: VIVEK SHARMA


    Date: 23-08-2024
    Sr.
    Parameter Details
    No
    (i) Loan amount (in rupees) Rs. 15000.00
    Total interest charge during the
    (ii) entire tenor of the loan (in Rs. 1297.00
    rupees)
    Other up-front charges, if any (break-up of each component to be given
    (iii)
    below) (in Rupees)
    (a) Processing fees, if any (in
    Rs. 1239.00
    rupees)
    (b) Insurance charges, if any
    Rs. 0.00
    (in rupees)
    (c) Others (if any) (in rupees) Rs. 0
    Net disbursed amount (in
    (iv) Rs. 13498.00
    rupees)
    Total amount be paid by the
    (v) Rs. 17781.14
    borrower
    Annual Percentage Rate -
    (vi) Effective annualized interest 67.97 %
    rate (in percentage)
    (vii) Tenor of the Loan 6 months
    Repayment frequency by the
    (viii) MONTHLY
    borrower
    Number of instalments of
    (ix) 6
    repayment
    (x) Usage Fee Rs. 117.00
    (xi) Stamp charges Rs. 0.00
    (xii) Broken period interest Rs. 146.00
    Amount of each instalment of
    (xiii) Rs. 2716.00
    repayment
    Details about Contingent Charges
    36 % per annum on the amounts under
    (xiv) Penal Charges default from the due date to the date of
    1 actual payment
    Sr.
    Parameter Details
    No
    (xv) Bounce charges Rs. 500 Per Dishonor
    (xvi) Foreclosure charges 3% of PrincipalOutstanding
    Other disclosures
    Cooling off/look-up period
    during which borrower shall not
    (xvii) 3 days
    be charged any penalty on
    prepayment of loan
    MWYN Tech PVT Ltd
    Details of LSP acting as
    For details of Recovery agencies, please
    (xviii) recovery agent and authorized
    refer to: https://www.moneytap.com
    to approach the borrower
    /agencypartners/

    Retained Processing Fee (INR)


    (xix) (In case customer exits during Rs. 6.88 per day (inclusive of GST)
    Cooling Off/look-up Period)
    Cholamandalam GRO Name: Mr.
    Krishnakumar K.P
    Cholamandalam Designation : Principal Nodal
    Name, designation, address
    Officer/ Grievance Redressal Officer
    and phone number of nodal
    GRO Contact number: 044-40906114
    grievance redressal officer of
    Cholamandalam Email for GRO: gro@chola1.
    (xx) RE designated specifically to
    murugappa.com /
    deal with FinTech/ digital
    principalnodalofficer@chola. murugappa.com
    lending related complaints/
    ASV Adarsh Complex,719,Pathari Road,off
    issues
    Mount Road,Near Thousands Light Metro
    station,Behind Raj video vision,Anna Salai,
    Chennai- 600002
    Name, designation, address
    and phone number of nodal
    Moneytap GRO Name: Anjali Panwar
    grievance redressal officer of
    Moneytap GRO phone number:
    (xxi) LSP designated specifically to
    +916361121526 Moneytap GRO Email id:
    deal with FinTech/ digital
    [email protected]
    lending related complaints/
    issues

    2
    Detailed Repayment Schedule
    Outstanding
    Instalment Instalment Principal Interest Instalment
    Principal (in
    No. Date (in rupees) (in rupees) (in rupees)
    rupees)

    2024-09-
    1 15,000 0 146 146
    05

    2024-10-
    2 15,000 2,353 363 2,716
    05

    2024-11-
    3 12,647 2,410 306 2,716
    05

    2024-12-
    4 10,237 2,468 248 2,716
    05

    2025-01-
    5 7,769 2,528 188 2,716
    05

    2025-02-
    6 5,241 2,589 127 2,716
    05

    2025-03-
    7 2,652 2,652 65 2,717
    05

    Recovery Mechanism:

    1. The collection, recovery activities shall be carried on by the Lending Service


    Provider (MoneyTap) in accordance with the Collection Code of Conduct
    prescribed by the lender.
    2. The borrower may note that the collection agencies will reach out on behalf of
    the lending service provider at the registered contact number and/or address of
    the borrower.
    3. The Borrower shall note that the account shall be classified as Non-Performing
    Asset (NPA) as per the extant RBI Circulars/Regulations when the payment of
    Loan Instalment (principal and/or interest) remains overdue for more than 90
    days, that is, the account will be marked as NPA on the 91st day of continuous
    default from the original due date. To further clarify, an illustrative example of
    the way any account shall be classified as NPA is provided in the loan
    document.

    Signature Not Verified


    3 Signed by : DS CHOLAMANDALAM INVESTMENT AND
    FINANCE COMPANY LIMITED 5
    Reason : krishnakumar k
    Location : Chennai
    Date : 2024-08-24 00:46:09 IST

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