SANCTION LETTER 001No00000IMWrtIAH
SANCTION LETTER 001No00000IMWrtIAH
SANCTION LETTER 001No00000IMWrtIAH
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)
Annexure 1
Key Facts Statement
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.
https://www.ltfs.com/grievance-redressal
SCHEDULE A
Computation of APR
Annexure 2
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.
“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
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.
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.
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.
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
36 3442 45 3396 0