SOFT SANCTION LETTER
Date : 25-Jul-2024
To,
Applicant : THAKOR MONIKABEN ATULJI
Co-Applicant : ATULJI SOVANJI THAKOR
Residence address :
AT : THAKORVAAS,TUNDAV,MAHESANA,GUJARAT-384170.
Sub:Sanction letter for loan facility vide Application No- HLD0009857 (Location:
PALANPUR )
Dear Sir / Madam,
Thank you for selecting J.M.FINANCIAL HOME LOANS LIMITED. We are delighted to inform you that based on your application, we have
conditionally approved aloan facility on below terms and conditions:
Type of Loan HOME LOAN
Applicant Phone Number +91 9574305439
Applicant Email Id
Product Type HL
Purpose of Loan Home Improvement/Extention
Scheme JYOTI
Loan Amount Sanctioned Rs. 7,00,000
Sanction Date 26-Jul-2024
Term of Loan 120 Months
Type of Interest FIXED
Rate of Interest 18 %
Amount of Monthly Installment (EMI): Rs. 12,613
Total number of installments/Tenor 120
Initial Margin Deposit (IMD) (Non-refundable) AS PER SCHEME
Total IMD Amount 0
Processing Fees (non- refundable) As per Scheme+ 18% GST
Processing Fees 35960
Default Interest/Penal Interest 1.5% per month on the outstanding dues
Repayment Start Date 5-SEP-2024
Mode of Repayment NACH
Part Payment Charges:
No part payment of loan facility shall be allowed within 6 months from
the date of disbursement of the loan facility. However, the borrower
may part pay the loan facility, after completion of 6 months of the
disbursement of the loan facility, subject to payment of a charges at
the rate of 4% on the part-payment amount. Additionally, the part-
payment is permissible up to a maximum of 25% only, of the
outstanding principal in a financial year.
Pre-Payment/Foreclosure Charges:
No pre-payment of loan facility shall be allowed within 6 months from
the date of disbursement of the loan facility. However, the borrower
may prepay/foreclose the loan facility, after completion of 6 months of
Part-Payment and Pre-Closure Policy
the disbursement of the loan facility, subject to payment of below
mandatory charges:
Tenure of Loan Facility Prepayment/Foreclosure charges (in %age)
More than 6 months
10% of principle outstanding
upto 12 months
More than 12 months
8% of principle outstanding
upto 24 months
More than 24 months
6% of principle outstanding
upto 36 months
More than 36 months 4% of principle outstanding
The charges mentioned above shall be exclusive of GST at applicable
rates.
The Loan Facility shall be secured by following securities:
a. Immovable Property:
b. Guarantee,
c. DPN of the Borrowers and Guarantors
Details of Security d. Such other Security Interest as may be prescribed by the Lender
from time to time in its sole discretion to secure the Obligations.
Other Charges
The Original Property papers and other chain documents shall be
released and returned to the Security Provider within 30 working days
of issuance of final loan closure letter at the registered office of the
Timelines and place of return of original property documents Lender, subject to the condition that the Borrower(s)/Security
Provider(s) shall not have any outstanding dues under any facility(ies)
availed from the Lender. Subsequently, the charge over the said
security/collateral shall also be released by the Lender.
The Loan Facility shall be disbursed post execution of the requisite
documents, security documents, submission of required undertaking
Execution of Documents and collaterals, and creation of requisite charges over the Securities as
mentioned in this Sanction Letter and finance documents, as required
by the Lenders and necessary to concretize the transaction.
Other Terms and Conditions As detailed in Schedule 1, Schedule 2 and Schedule 3
Please note that this Sanction Letter has been provided for your acceptance and the disbursement of the said loan facility will only be done after
compliance of all sanction terms of the loan facility, and execution of loan agreement and associated facility/transaction documents. We reserve
the right for refusal of the disbursement of the loan facility, if the terms and conditions as agreed, are not being complied.
Please sign & return the duplicate copy of this sanction letter as a token of having accepted the terms and conditions detailed above.
Vernacular Declaration:
The Borrower and the Guarantors confirms that, the terms & conditions and nature of this Sanction Letter have been read out and explained in
the language they communicate and speak and understand and they have understood the entire meaning of all the clauses.
Note:-
a. The aforesaid rate of interest would be valid for a period of 30 days from date of this sanction letter.
b. All indirect taxes, duties, and levies, including but not limited to interest tax, service tax, education cess, levied/to be levied under the
applicable laws.
c. As may be amended from time to time would be additionally charged. From the date of first disbursement, you will be required to pay Interest /
EMI (as Applicable to your loan) till the time your loan is fully repaid.
