The Pre-Approved Xpress Credit Loan for Sunita Chaudhary is for an amount of Rs 224,000 with a fixed interest rate of 11.3% per annum, repayable over 72 months in equated monthly installments of Rs 4,299. A processing fee of 0.75% of the loan amount will be charged, and penalties apply for delayed payments at a rate of 2% per month. The borrower must maintain salary deposits in the bank account until the loan is fully repaid, and the bank reserves the right to disclose any defaults to relevant authorities.
The Pre-Approved Xpress Credit Loan for Sunita Chaudhary is for an amount of Rs 224,000 with a fixed interest rate of 11.3% per annum, repayable over 72 months in equated monthly installments of Rs 4,299. A processing fee of 0.75% of the loan amount will be charged, and penalties apply for delayed payments at a rate of 2% per month. The borrower must maintain salary deposits in the bank account until the loan is fully repaid, and the bank reserves the right to disclose any defaults to relevant authorities.
The Pre-Approved Xpress Credit Loan for Sunita Chaudhary is for an amount of Rs 224,000 with a fixed interest rate of 11.3% per annum, repayable over 72 months in equated monthly installments of Rs 4,299. A processing fee of 0.75% of the loan amount will be charged, and penalties apply for delayed payments at a rate of 2% per month. The borrower must maintain salary deposits in the bank account until the loan is fully repaid, and the bank reserves the right to disclose any defaults to relevant authorities.
The Pre-Approved Xpress Credit Loan for Sunita Chaudhary is for an amount of Rs 224,000 with a fixed interest rate of 11.3% per annum, repayable over 72 months in equated monthly installments of Rs 4,299. A processing fee of 0.75% of the loan amount will be charged, and penalties apply for delayed payments at a rate of 2% per month. The borrower must maintain salary deposits in the bank account until the loan is fully repaid, and the bank reserves the right to disclose any defaults to relevant authorities.
These Terms & Conditions govern the Pre-Approved Xpress Credit Loan availed / to be availed by you, the Borrower / Customer:
Name - SUNITA CHAUDHARY
CIF No. - 78199716709 Date and time of request : 08/09/2022 06:51:20 PM Loan Amount: Rs 224000 • The Loan can be availed of and loan account created only through the customer's Internet Banking/YONO Account.
• Interest on the loan will be charged at 11.3% p.a. on daily reducing balance. The rate of interest will be valid for the entire tenure of the loan.
• A standing instruction equivalent to Rs 4299 will be set up on 25 of every month on the salary account with the Bank upon availing of this loan as per the date decided by you.
• At any point of time, only one ''Pre Approved Xpress Credit'' is allowed.
• The Term Loan facility will be permitted to operate on a reducing drawing power arrangement on EMI basis.
• Loan shall be repaid in 72 months.
• The loan is to be repaid in Equated Monthly Instalments. The number of equated monthly instalments may increase/vary if the entire loan with interest, cost, charges and expenses is not repaid by/with the stipulated number of equated monthly instalments. The equated monthly instalments will have to be paid till the entire loan with interest is fully repaid. The first instalment commences from the month following the month of disbursement of loan.
• A Processing fee of 0.75% of Loan amount (Min Rs 1,000, Max Rs 7,500) plus GST will be levied upon availing of this loan.
• The bank shall not be liable for any unauthorised access to the Digital Platform through the use of password / MPIN of the customer / borrower and that the credit of the loan amount to the account of the customer / borrower would be sufficient for the Bank to construe that the customer / borrower has applied for the said loan through the Internet Banking Account or Mobile Banking Account and has been the beneficiary of the said loan amount sanctioned and credited to the account of the customer /borrower.
• In the event of default in payment of any instalment or any irregularity in the loan account, penal interest at the rate of 2% p.m. over the stipulated interest rate with monthly rests will be charged for the irregular amount and overdue period. • In the event of Borrower failing to repay any/ 2 or more instalment(s) at any point of time, the Bank may send written reminders or make telecall/ SMS or depute an official to meet Borrower personally, all the incidental charges appurtenant thereto such as postage, telephone/ SMS charges, transportation charges, on actual would be recovered from Borrower.
• Borrower will deposit his/her salary every month for credit to the Savings Bank account maintained at SBI branch till liquidation of the amount advanced to him/her with up to date interest etc. • If: (i) the borrower fails to pay any amount under this agreement on or before the due date or commits breach of any of the terms, covenants, or conditions contained in this agreement; or (ii) it is found that the borrower has made any misrepresentation to the bank; or (iii) there exists any circumstances which in the opinion of the bank prejudicially affects or may affect the bank’s interest or the borrower’s ability to repay the loan; or (iv) the borrower commits any default under any other agreement with the bank;, the Bank, without prejudice to its other rights, shall be entitled at its option to demand immediate repayment of the outstanding amount of the loan, interest, additional interest, fees, costs, charges, expenses, stamp duty and all other sums whatsoever payable by the borrower to the bank under this agreement and/ or in connection with the loan (hereinafter collectively referred to as ‘the borrower’s outstandings’) and the borrower shall pay the same to the bank forthwith.
• Notwithstanding anything contained elsewhere in this agreement, the continuation of the loan shall be at the sole and absolute discretion of the bank and the borrower’s outstandings shall be payable by the borrower to the bank on demand. The bank may at any time in its sole discretion and without assigning any reason call upon the borrower to pay the borrower’s outstandings and thereupon the borrower shall pay the whole of the borrower’s outstandings to the bank without any delay or demur.
• It is a precondition of the loan advances given to the Borrower by the bank, that in case of default in repayment of the loan / advances or in the repayment of the interest thereon or any of the agreed instalment of the loan on due date/s or in maintaining the outstanding amount within the drawing power at any point of time, the bank and/ or the Reserve Bank of India will have an unqualified right to disclose or publish his/her name(s) as defaulter in such manner and through such medium as the bank or Reserve Bank of India their absolute discretion may think fit and the borrower will not claim any right of secrecy to his/her account.
• The Terms and Conditions mentioned herein form the contract between the Borrower availing the Pre Approved Xpress Credit facility using the Internet Banking/YONO services and the Bank. By ticking the checkbox, the Borrower acknowledges and accepts these Terms & Conditions. In addition to these Terms and Conditions, any other conditions relating to the accounts of the customer/borrower including but not limited to those governing Internet Banking/YONO services, as the case may be, will also apply to this Pre Approved Xpress Credit Loan. In the event of any conflict between these Terms and Conditions and such other conditions, these Terms and Conditions will continue to prevail in respect of the Pre Approved Xpress Credit Loan.
• In case of default, bank reserves the right to use the services of resolution agents/collection agents for recovery of loans and their service charges, if any, will be borne by the customer. 1. Name of the Borrower SUNITA CHAUDHARY
2. Loan Amount Rs. 224000
3. Loan Term 72 months
4. Interest Type (Floating or Fixed) Fixed
5. Interest Rate Chargeable 11.3 % p.a.
6. Date of Interest reset No Reset
7. Mode of communication of changes in Published in Bank’s website interest rates/MCLR
8. Fee Payable
a. On Application NIL
b. During the tenure of the loan NIL
c. On Foreclosure Any prepayment of EMIs in full or in part and closure of account before the end of term will attract the prepayment charges of 3% on prepaid amount. No prepayment/foreclosure charges will be applicable if the account is closed from the proceeds of a new loan account opened under the same scheme Conversion Charges for switching Not Applicable from floating to fixed interest and vice- versa d. 9. Penalty for delayed payments If the irregularity exceeds EMI for a period of one month, then penal interest @ 2% p.m. (over and above the applicable interest rate) will be charged on the overdue amount for the period of default.
