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TW Disbursement Memo

The loan application of R Kalaimagal for a 125 CC Honda motorcycle from Hardeep Motors has been approved for a loan amount of Rs. 90400, with a down payment of Rs. 27450 and a net disbursal of Rs. 88550. The approval is valid for 7 days from issuance for delivery of the vehicle, though actual disbursement is conditional on providing additional documents. The letter notes changes to schemes or vehicles may require a new approval letter and disbursement amount.

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201 views2 pages

TW Disbursement Memo

The loan application of R Kalaimagal for a 125 CC Honda motorcycle from Hardeep Motors has been approved for a loan amount of Rs. 90400, with a down payment of Rs. 27450 and a net disbursal of Rs. 88550. The approval is valid for 7 days from issuance for delivery of the vehicle, though actual disbursement is conditional on providing additional documents. The letter notes changes to schemes or vehicles may require a new approval letter and disbursement amount.

Uploaded by

prakash saro
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Date : Oct 13, 2022

To : HARDEEP MOTORS

LOAN APPROVAL LETTER

Dear Sir,

We are pleased to inform you that the loan application of R Kalaimagal has been approved vide approval no.
0391460954 as per the details mentioned below.

SFDC ID 0391460954
Location CHENNAI
Name of Customer R Kalaimagal
Brand Name HONDA MOTORCYCLE AND SCOOTER
Model Name 125 CC
Sub Model ACTIVA DISC BS VI
Name of Dealer/DSA BRANCH LEADS & CAMPAIGNS

The disbursement break up would be as under:

Asset Cost(ORP) 116000.00


Loan Amount Approved 90400.00
Down Payment Required 27450.00
Processing Fee 0.00
Net Disbursal 88550.00
GST Amount 0.00

Thanking you,
For IDFC First Bank Ltd.
Notes:

1. This Approval Letter is valid for 7 days from the date of issue. For whatever reason, if the loan is not
disbursed within 7 days of issuance of this letter, then Bank will not be liable to pay the Dealer.
2. Kindly note this is only a conditional approval document. The vehicle may be delivered basis this document
but actual disbursement is conditional to dealer/customer providing requisite post documents, eg.
Agreement,PDC/ECS,KYC,insurance,invoice,RCU approval etc.
3. In case, it is later found that customer had taken a different vehicle from the dealer than the one specified in
the invoice provided, then Bank will not be liable to pay for that case. In case amount is transferred already,
Bank is allowed to adjust the same from subsequent disbursals
4. In case there are any changes to the scheme after issuance of the sanction letter then only a fresh sanction
letter incorporating the impact of the changes will be valid and the disbursement amount may change
accordingly
5. This is a computer generated letter and does not require any signature

IDFC First Bank Limited (Formerly IDFC Bank Limited)


Naman Chambers, C 32, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400051 Tel: +91 22 2654 0354
Registered Office : KRM Towers, 7th Floor,No. 1, Harrington Road,Chetpet, Chennai 600031. Tel: +91 44 4564 4000 Fax: +91 44 4564 4022
CIN : L65110TN2014PLC097792 [email protected] www.idfcfirstbank.com

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