SANCTION LETTER 001No00000IMWrtIAH

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Sanction Letter

Loan Application Number: T07191041024060353


Date: 7/10/2024
To,
RAGHU k
Current Address : 16 1st A Cross 12th Main Siri Cake,Palace Hanumagirunagar
Chikkalsandra,Bengaluru,Karnataka,560061
Permanent Address :
Email id :
Mobile Number : 8971263397

Dear Sir / Madam,


We are pleased to inform you that your loan application has been approved by L&T Finance Limited (formerly known as
L&T Finance Holdings Limited), and hereinafter referred as (“LTF/Lender”), subject to the following:

1) Key Facts Statement - Please find attached Annexure 1 which comprises of Key Facts Statement (“KFS”).
Annexure 1 further comprises of Schedule A i.e. Computation Sheet of Annual Percentage Rate (APR), and
Schedule B i.e. Repayment Schedule.

2) Terms and Conditions - Please find attached Annexure 2 which comprises of Terms of Sanction.

We look forward to a mutually beneficial and long-term relationship. We believe that our partnership will be built on
the principles of trust, transparency, and understanding. We are committed to providing you with the best possible
service and support to ensure that your loan experience is smooth and hassle-free.
By signing this sanction letter, you acknowledge that you have read, understood, and agreed to the terms and
conditions outlined above and in the Annexures. You also confirm that you have/will provide all necessary information
and documentation to facilitate the disbursement of the loan.
We encourage you to reach out to us if you have any questions or concerns regarding your loan or any other matter.
Our dedicated customer service team is available at 1800-268-0000 or [email protected] to assist you at all
times.
If you’re agreeable to the above terms and conditions, please sign and accept this sanction letter.

Borrower Signature

Regards,
L&T Finance Ltd.
(formerly known as L&T Finance Holdings Limited)

L&T Finance Limited


(formerly known as L&T Finance Holdings Limited)
Registered Office
Brindavan, Plot no. 177, C.S.T Road,
Kalina, Santa Cruz (East) T +91 22 6212 5000
Mumbai – 400098 Maharashtra, India F +91 22 6212 7509
CIN: L67120MH2008PLC181833 E [email protected] www.ltfs.com
INTERNAL

Annexure 1
Key Facts Statement

Part 1 (Interest rate and fees/charges)

1 Loanproposal/ T07191041024060353 Type of Loan Two Wheeler Loan


account No.
Purpose of Loan Purchase of Two Wheeler
2 Sanctioned Loan amount (in Rupees) 104857.00

Loan Amount to be disbursed 97597.00


3 Disbursal schedule
(i) Disbursement in stages or 100% upfront. 100% upfront
(ii) If it is stage wise, mention the clause of loan agreement
having relevant details
4 Loan term (Months) 36 Months
5 Instalment details
Type of instalments: Number of EPI/EMI (₹) Commencement of
EPIs/EMIs repayment, post sanction

Monthly 36 Rs. 3443.00 3/11/2024


6 Interest rate (Annualized) 16.24 %p.a.

Type (fixed or floating or hybrid) Fixed

6.1 Flat Rate -

7 Additional Information in case of Floating rate of interest


Reference Benchmark rate (%)Spread (%) Final rate (%) R = (B) Reset Impact of change in the
Benchmark (B) (S) + (S) periodicity reference benchmark
(Months) (for 25 bps change in ‘R’,
change in:)
B S EPI/EMI No. of EPIs/EMIs
(₹)
NA NA NA NA NA NA NA NA
8 Fee/ Charges
Payable to the Lender (A) Payable to a third party through
Lender (B)
One-time/ Amount (in One- Amount (in ₹) or Percentage
Recurring ₹) or time/Recurring (%) as applicable5
Percentage
(%) as
applicable
(i) Processing fees One-time 0.00
(Non-Refundable)
(ii) Insurance Premium

a) Life Insurance One -time 1447.00


b) Health Insurance 950.00
(iii) Valuation fees NA NA
INTERNAL

(iv) ECS Charges One-time 600.00


(v) Document Charges One-time 1000.00

9 Annual Percentage Rate (APR)19.25 % p.a.


(%)
10 Details of Contingent Charges
(in ₹ or %,
as applicable)
(i) Penal charges, if any, in case of 2% per month (p.m.) on overdue EMI + applicable taxes
delayed payment
(ii) Foreclosure charges, if applicableNo prepayment shall be allowed till 6 (six) months from Disbursement
Full/Part Prepayment shall be allowed subject to payment of Prepayment
Charges at 5 % of prepaid amount + applicable taxes
(iii) Charges for switching of
loans from floating to NA
fixed rate and vice versa
(iv) Payment Mandate Dishonor
/Bounce Charges

(v) Duplicate NOC Charges


(Charge is applicable for paper
Rs 250/- + applicable taxes
copy post 3 free copies per
customer)
(vi) Repayment Swap Charges (per
swap) Rs 500/- + applicable taxes (applicable only for branch walk-ins)

(vii) Loan Cancellation Charges Rs. 1500/-


(viii) Broken Period Interest (BPI) 0
(ix) First EMI Amount 3443.00
(EMI + BPI)
INTERNAL

Part 2 (Other qualitative information)

1 Clause of Loan agreement relating to engagement of In the event of default, the Lender shall communicate to
recovery agents the Borrower by the way of SMS or Email the details of
recovery agent who is authorised by the Lender to
approach the Borrower for recovery of Loan.
2 Clause of Loan agreement which details grievance The Lender has designated a grievance redressal officer
redressal mechanism to redress the grievances of the Borrower. The details of
the grievance redressal mechanism and the grievance
redressal officer will be provided of the Loan Agreement.

For further details, refer to the GRO Link:

https://www.ltfs.com/grievance-redressal

3 Phone number and email id of the nodal [email protected]


grievance redressal officer
1800 1020 476
4 Whether the loan is, or in future maybe, subject to Yes
transfer to other Lenders or securitisation (Yes/ No)
5 In case of lending under collaborative lending arrangements (e.g., co-lending/ outsourcing), following additional
details may be furnished:
Name of the originating Lender, Name of the partner Lender along with its Blended rate of interest
along with its funding proportion proportion of funding
NA NA NA
INTERNAL

SCHEDULE A
Computation of APR

Sr. Parameter Details


No.
1 Loan amount (in Rupees) 97597.00

2 Loan Term (Months) 36

a) No. of instalments for payment of principal, in case of non- NA


equated periodic loans
b) Type of EPI Monthly

Amount of each EPI/EMI (in Rupees) and 3443.00

Nos. of EPIs (e.g., no. of EMIs in case of monthly instalments) 36

c) No. of instalments for payment of capitalised interest, if any NA


d) Commencement of repayments, post sanction 3/11/2024

3 Interest rate type (fixed or floating or hybrid) since it would be Fixed

4 Rate of Interest 16.24 % PA


5 Total Interest Amount to be charged during the entire tenor of 26351.00
the loan as per the rate prevailing on sanction date (in
Rupees)
6 Fee/ Charges payable (in Rupees) 3997.00
A Payable to the RE 1600.00
B Payable to third-party routed through RE 2397.00
C Total Outstanding from previous loan NA
7 Net disbursed amount (1-6) (in Rupees) 93600.00
8 Total amount to be paid by the borrower (sum of 1 and 5) (in 123948.00
Rupees)
9 Annual Percentage rate- Effective annualized interest rate (in 19.25 %
percentage)
10 Schedule of disbursement as per terms and conditions One-time disbursement

11 Due date of payment of instalment and interest 3/11/2024 and monthly


thereafter
INTERNAL

Annexure 2

TERMS AND CONDITIONS

The terms applicable to the “Loan” are provided below:

1. Classification of Assets & Example of SMA/NPA classification

Notwithstanding any other provisions of the sanction letter or the Loan Agreement and any rights available to the
Lender under the applicable laws, the Lender shall, in compliance with RBI’s Clarification on Prudential norms on
Income Recognition, Asset Classification and Provisioning pertaining to Advances dated November 12, 2021 as
amended from time to time and /or as required/ directed by RBI (“RBI IRACP Norms”), classify and notify the Loan
as an overdue account under day-end processes on the due date as per Lender’s internal processes.

Additionally, subject to the RBI IRACP Norms and applicable laws, as per the RBI IRACP Norms and applicable
laws, the Lender shall classify the Loan as SMA or NPA on the relevant due date in accordance with the day-end
process followed by the Lender. The SMA or NPA classification date and asset classification status of the Loan shall
be as on the date of the Lender’ day-end process for the said Loan.

For the purpose of clarity, an example is provided below:

“If the due date of a loan account is March 31, 2021, and full dues are not received before the lending institution runs
the day-end process for this date, the date of overdue shall be March 31, 2021. If it continues to remain overdue, then
this account shall get tagged as SMA-1 upon running the day-end process on April 30, 2021, i.e., upon completion of
30 days of being continuously overdue. Accordingly, the date of SMA-1 classification for that account shall be April
30, 2021. Similarly, if the account continues to remain overdue, it shall get tagged as SMA- 2 upon running day-end
process on May 30, 2021, and if it continues to remain overdue further, it shall get classified as NPA upon running
day-end process on June 29, 2021."

Upgradation of the account classified as NPA - loan accounts classified as NPAs may be upgraded as ‘standard’ asset
only if the entire arrears of interest and principal are paid by the Borrower.

3) Schedule of Charges

To get information on the fees & charges applicable for your loan account, you can also click on
https://bit.ly/Updated_SOC

4) Privacy Policy

This is the Data privacy Policy. For more information, kindly refer to the link provided -
https://www.ltfs.com/docs/default-source/default-document-library/data-privacy-policy.pdf?sfvrsn=729aba03_1
INTERNAL

5) Repayment Schedule and Repayment Instalment

The repayment Schedule is drawn based on the terms and provided in Annexure 1 and is shared with the Borrower
along with the welcome kit after disbursement of the Loan. The frequency of the repayment is on monthly basis.
The Borrower may voluntarily choose to pay the EMI(s) in advance/any amount prior to the due date. If such amount
is equal to or more than the EMI, the same shall be appropriated by the Lender towards the next EMI/charges. In case,
such amount is lesser than the EMI amount, the same shall be appropriated by the Lender towards the charges due, if
any. In case no charges are due, such amount will be refundable to the Borrower. The Lender shall not be liable to pay
any interest on any such amounts paid in advance.
6) Consent

The Borrower hereby provides its consent to the Lender, its employees, representatives and/or its agents: (i) to share,
the information and details of the Borrower, including repayment history, for the purposes of customer verification,
personalization of products or services, credit rating, data enrichment, marketing or promotion of the Lender’s or
related products, with its group companies, service providers, partners, banks, financial institutions, credit bureaus,
statutory authorities and regulatory bodies, etc., (ii) to download and use its “Central Know Your Customer”
(CKYC) record from the Central KYC Records Registry using its KYC Identifier for fulfilling KYC requirements,
(iii) to process the personal information, including when obtained via KYC/e-KYC process, images and video data
and images of my surroundings captured therein, for a period of 5 (five) years or as per the applicable law from the
date of termination or expiry of this Agreement, and (iv) to call/ SMS/Email/ WhatsApp/Telegram, etc. the Borrower
in relation to this Loan and/or other products/ services offered by the Lender and/or its partners. This consent
overrides/ cancels the registration of the Borrower with the & National Do No Call Registry (NDNC) or “Do Not
Disturb” (DNC) service, with respect to the Lender, its employees, representatives and/or its agents. This consent is
subject to the Lenders’ privacy policy published/revised/amended on our website www.ltfs.com.

The Borrower authorizes the Lender to destroy the cheque(s) (if any) in the possession of the Lender upon
repayment of the Loan together with all costs, charges and expenses, by the Borrower to the satisfaction of the
Lender.

7) Insurance (This clause shall be applicable only if the Borrower has opted for insurance)

The Borrower has opted to buy insurance from the Lender's insurance partner(s) with funding from the Lender as
stated herein.

8) Legal Entity Identifier (LEI)

Legal Entity Identifier (“LEI”) code shall be submitted by applicable Borrowers as per regulatory guidelines. In case
the Borrower fails to obtain LEI codes, such Borrowers shall not be sanctioned any new exposure nor shall be
granted any renewal/enhancement of existing exposure and non-availability of LEI code shall lead to cancellation of
undrawn limit.

9) Interest Rate Determination

To get information on the Interest rate model and gradation of risk, click https://bit.ly/LTF_InterestRateModel

10) Compliance

The disbursement of the loan shall be subject to acceptance of the terms mentioned herein including the annexures
hereof, the execution of Loan Agreement, or any other documents as advised by the Lender and compliance of the
INTERNAL

terms and conditions therein. Further, the Lender reserves the right, without assuming any liability and without any
prior notice, to cancel the loan if the requisite compliance (including documents) as communicated by the Lender are
not complied with.
11) Disbursement

The loan will be disbursed subject to the execution of a Loan Agreement or other documents as advised by us. Please
submit your post sanction documents for disbursement. The actual/exact instalment amount and disbursement date
will be communicated in the Repayment schedule / Welcome kit shared post actual disbursement.
An amount towards interest for period between the date of disbursement of the Loan and the interest start date
(hereinafter “Broken Period Interest/BPI”) shall be added in the first EMI/ Instalment which will be over and
above the actual EMI which will be reflected in the repayment schedule. The first EMI/Instalment amount and the
BPI amount may vary based on the actual date of disbursement of the Loan. It is also agreed between the parties that
the Annualised Percentage Rate (APR) may vary by +2% depending on actual date of disbursement.
12) Customer Service

For any service-related requirement, you may reach out to our dedicated customer service help desk at 1800-268-
0000 or [email protected].
13) Grievance Redressal

In case you are not satisfied with the resolution offered, you may further reach out to us at
https://www.ltfs.com/grievance-redressal.

14) Validity of Sanction Letter

The sanction letter is valid for 30 Days from the date of first login 2024-10-04 18:06:18 of app no T07191041024060353.

DISCLAIMER: Please note that Lender never asks for payment of any commission/charges for applying for any
type of loan. Neither of the employees, or its agents or any other person are in any way AUTHORIZED to ask for
cash/ online payment for applying loan. Please do not make any payment to any personal QR codes or links without
receipt from authorized staff of the Lender. Please note the Lender shall not be responsible for any such payment
transactions made to any personal QR codes or links if they are not received from any authorized staff.

Borrower Signature
SCHEDULE B –
REPAYMENT SCHEDULE UNDER EQUATED PERIODIC INSTALLMENT

Annual interest rate 16.24 Total payments 123940

Loan term (in years) 3 Total interest 26343

Payments per year 12

Loan amount 97597.00

Period EMI Interest Principal Balance

1 3442 1320 2121 95475

2 3442 1292 2150 93324

3 3442 1262 2179 91144

4 3442 1233 2209 88935

5 3442 1203 2239 86695

6 3442 1173 2269 84426

7 3442 1142 2300 82126

8 3442 1111 2331 79794

9 3442 1079 2362 77431

10 3442 1047 2394 75037

11 3442 1015 2427 72609

12 3442 982 2460 70149

13 3442 949 2493 67656

14 3442 915 2527 65129

15 3442 881 2561 62567

16 3442 846 2596 59971

17 3442 811 2631 57340

18 3442 776 2666 54673

19 3442 739 2702 51970

20 3442 703 2739 49231

21 3442 666 2776 46454

22 3442 628 2814 43640

23 3442 590 2852 40788

24 3442 552 2890 37897

25 3442 512 2929 34967

26 3442 473 2969 31998

27 3442 433 3009 28988


28 3442 392 3050 25937

29 3442 351 3091 22846

30 3442 309 3133 19712

31 3442 266 3176 16536

32 3442 223 3219 13317

33 3442 180 3262 10055

34 3442 136 3306 6748

35 3442 91 3351 3396

36 3442 45 3396 0

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