HOME LOAN AGREEMENT

No. IDFCFIRST/HL/20012022/V.11

CUSTOMER NAME :

LOAN ACCOUNT NUMBER :

 INDEX
Sr. No. Particulars Page No.
1 Instructions for Filling Documents
2 Vernacular Declaration
3 NACH Form
Agreement
4 Home Loan - Agreement 1 to 9
5 NRI - Simple Home Loan (Annexure I) 10
6 Short & Sweet Home Loan (Annexure II) 11
7 Booster Home Loan (Annexure III) 12
8 Schedule/Key Fact Statement & SOC 13 to 17
9 Home Loan - Agreement [Customer Copy] 19 to 27
10 NRI - Simple Home Loan (Annexure I) 28
11 Short & Sweet Home Loan (Annexure II) 29
12 Booster Home Loan (Annexure III) 30
13 Schedule/Key Fact Statement & SOC 31
Security Documents
14 Power of Attorney 37
15 Memorandum of Deposit of Title Deeds 39
16 Memorandum of mortgage by constructive delivery of title deeds 41
17 Declaration Cum Undertaking 45
18 Affidavit Cum Undertaking 47
Repayment Documents
19 Disbursement Request Form - IDFC FIRST BANK LTD. 49
20 Cheque Submission Form 51
21 Direct Debit Mandate Form 53
Insurance Proposal Forms
22 Insurance Proposal Forms - Future Generali 55
23 Insurance Proposal Forms - HDFC Life 58
24 Insurance Proposal Forms - Tata AIG 59
BT Documents
25 Authorization letter (Security creation) 61
26 Authorization letter (Balance Transfer) 63
27 Joint Letter For Takeover (Balance Transfer) 65
28 Borrower Indemnity (Balance Transfer) 67
Other Documents
29 Debit Card Application 69
 INSTRUCTIONS FOR FILLING DOCUMENTS

General Instructions
1) All applications to be filled in English in CAPITAL LETTERS using a ballpoint pen only.
2) There should not be any amendments/overwriting/erasures/cutting on the Loan Agreement
and any amendments/overwriting/erasures/cutting should be undersigned.
3) The Signature of the Borrower and Co-borrower should be the same on the Loan Agree-
ment & Application Form.
4) The full Signature of the Borrower and Co-borrower is to be put in all places where there is
a mark.
Sign against appropriate box
 01

Loan Agreement Serial No:

Home Loan Agreement

This Agreement made and executed and/or deemed to be executed at the place and n. “Fixed Rate of Interest” means the specific rate of interest
on the date set out in the Schedule hereto between “Borrower and Co-Borrower applicable on the Loan for specific tenure mentioned in the
whose details are given in Schedule hereunder, of the First Part; Schedule.
AND o. “Floating Rate of Interest” means the percentage rate per
IDFC FIRST Bank Limited (formerly known as IDFC Bank Limited), a company annum decided by the Bank from time to time and announced/
registered within the meaning of the Companies Act, 2013 and a banking company notified by the Bank/ the Lender/ Assignee from time to time
within the meaning of Banking Regulation Act, 1949 having its Registered Office at and same shall be linked to IDFC EBR by a margin/spread as
KRM Tower, 7th Floor, No. 1, Harrington Road, Chetpet, Chennai - 600 031, Tamil specified from time to time and any change in IDFC EBR, prior
Nadu, India and among others, a branch office at the place specified in Schedule to or subsequent to disbursement of Loan shall lead to change
hereto (hereinafter called “The Bank” which expression shall, unless it be repugnant therein and shall be communicated to the Borrower in writing
to the subject or context thereof, include its successors and assigns) of the Second or notified on the website of the Bank/ the Lender/Assignee
Part. accordingly.

The Borrower/Co-Borrower and the Bank are hereinafter collectively referred to as p. “Growing EMI” means where EMI increases after a specified
‘Parties’ and individually as the ‘Party’. period of time as mutually agreed between the Borrower(s)
and the Bank; “Improvement” includes construction, extension,
modification, repair, renovation, maintenance or any act done to
WHEREAS, the Borrower has/have approached the Bank for grant/sanction of (i) upkeep, (ii) maintain and (iii) enhance the utility of, the Property
loan for the amount and the purpose (“Purpose”) as stated in the Schedule hereto or any part thereof;
which the Bank, has vide Sanction Letter agreed to grant/extend to the Borrower.
The Parties hereto are desirous of recording the terms and conditions in relation q. “Improvement” includes construction, extension, modification,
to the Loan to be made by the Bank to the Borrower on the terms and conditions repair, renovation, maintenance or any act done to (i) upkeep, (ii)
hereinafter contained. maintain and (iii) enhance the utility of, the Property or any part
thereof;
r. “Indebtedness” means any indebtedness in respect of monies
NOW, THESE PRESENTS WITNESSETH AND IT IS HEREBY AGREED BY AND borrowed or liabilities contracted (including under guarantees,
BETWEEN THE PARTIES HERETO AS FOLLOWS- indemnities, hire purchase and leasing) of the Borrower towards
the Bank and shall be deemed to include any indebtedness
of any affiliate of the Borrower or a person or entity related to
1. DEFINITIONS AND INTERPRETATION
the Borrower, towards the Bank and any indebtedness of the
1.1. In this Agreement, unless the context otherwise requires, the following Borrower and/or of any affiliate of the Borrower or a person and
terms wherever used including the recitals, shall have the following entity related to the Borrower towards any subsidiary/ affiliate
meanings: company of the Bank
a. “Agreement” means this agreement read together with s. “Loan” means the financial assistance sanctioned under this
Annexure(s) and Schedule to this agreement. Agreement for the amount and Purpose as mentioned in the
b. “Applicable Rate of Interest” means the Fixed Rate of Interest Schedule.
or the Floating Rate of Interest applicable to the Loan as t. “Loan Account” means account opened by the Bank in the
mentioned in Annexure 1. name of the Borrower pursuant to the sanction of the Loan and to
c. “Application” means duly filled in application form including all be operated in accordance with the terms hereof.
particulars and documents submitted by the Borrower to the Bank u. “Material Adverse Effect” shall mean the consequence of any
for the purpose of availing the Loan. event or circumstance which in the sole opinion of the Bank is or is
d. “Annexure” means the annexure(s) to this Agreement as likely to be: (i) adverse to the ability of the Borrower or its Affiliates
amended/modified from time to time, which shall form an integral to perform or comply with its obligations under this Agreement
part thereof. and/or the other Transaction Documents; or (ii) prejudicial to the
businesses, operations or financial condition, properties, assets
e. “Availability Period” shall mean the period, as specified in the or prospects of the Borrower or its Affiliates.
Schedule during which the Loan shall remain available for drawal.
v. "NACH" means National Automated Clearing House
f. “Borrower” means one or more individual(s), sole proprietorship
firm, a partnership firm, HUF, a limited liability partnership, a w. “Pre-Equated Monthly Repayment Interest (P-EMI)” means
limited company, Hindu Undivided Family, Trust or Societies interest, at the rate indicated in the Schedule, on the Loan
whose name(s) and address(es) is/are stated in Schedule from the date/dates of disbursement of the Loan to the date
to this Agreement and Co-Borrower, unless repugnant to the immediately prior to the date of commencement of EMI.
subject or context thereof shall be deemed to include legal heirs, x. “Property” shall mean the property more specifically described
representatives, administrators, members, trustees, successors in the Schedule with all the common areas/easements privileges/
and permitted assigns of the Borrower. development rights/benefits/fixtures and fittings/buildings and
g. “Branch” means the branch of the Bank at the place mentioned structures, present and future, all tangible and/or intangible
in the Schedule where the Loan is sanctioned/disbursed and properties, all accretions, additions, accessories, fixtures and
shall include any other branch where the Loan Account may be fittings, buildings, structures constructed or erected thereon,
maintained or transferred from time to time at the sole discretion whether owned, acquired/occupied or to be owned/acquired/
of the Bank. occupied by the Borrower (whether financed by the Bank in whole
or in part, or not and/or such property(ies) as may be substituted
h. “Business Day” shall mean a day on which the Branch is open instead of or added to such property(ies) or both, with the Bank’s
for general business as well as for the purposes of payment, consent.
settlement and clearing. In case, any date for payment of any
dues under this Agreement falls on a day that is not a Business y. “Sanction Letter” means the letter, if any, issued by the Bank
Day, such payments shall be made on the next Business Day. and accepted by the Borrower, in connection with the Loan and
would include any variations and amendments thereto, from
i. “Co-Borrower” means one or more individual(s), sole time to time. Sanction Letter shall form an integral part of this
proprietorship firm, a partnership firm, HUF, a limited liability Agreement and shall always be read in conjunction with the same.
partnership, a limited company, Hindu Undivided Family, Trust In the event of any conflict in the terms of the aforesaid sanction
or Societies whose name(s) and address(es) is/are stated in letter and this Loan Agreement, the terms of the Sanction Letter
Schedule to this Agreement and Co-Borrower, unless repugnant will prevail, also the Bank shall be entitled to alter/vary/modify the
to the subject or context thereof shall be deemed to include terms and conditions of this Agreement or the Sanction Letter at
legal heirs, representatives, administrators, members, trustees, any time by notice in writing to the Borrower or notifying the same
successors and permitted assigns of the Co-Borrower on its website, either on its own accord or as may be required by
j. “Conversion Charges” means the fee, if any, paid/to be paid any Statutory Authority.
by the Borrower to the Bank for the purpose of conversion of z. “Schedule” means the schedule(s) to this Agreement as
Applicable Interest Rate from Fixed Rate of Interest to Floating amended/modified from time to time, which shall form an integral
Rate of Interest or vice versa. part thereof.
k. “Additional Interest Rate” means the rate at which the Bank aa. “Security” means security created or agreed to be created by
shall compute and apply interest on all amounts not paid when the Borrower in favour of the Bank to secure the Loan and/ or the
due for payment (or reimbursement) by the Borrower(s) to the performance of the engagement under this Agreement.
Bank, over and above applicable interest rate for the period of
default, as specified in the Schedule of Charges and Interest or bb. “Split Rates of Interest” means the combination of Fixed and
as may be amended from time to time by the Bank and shall Floating rates of interest opted by the Borrower(s) and applicable
be payable upon the footing of compound interest with monthly on the Loan Amount, as specified in the Schedule or as may be
rests; amended from time to time by the Bank;
l. “Equated Monthly Instalment (EMI)” means the amount of pro- cc. “Step down EMI” means where EMI decreases after a specified
rated monthly payment consisting of principal amount of the Loan period of time as mutually agreed between the Borrower(s) and
and/or interest payable thereon. the Bank, as specified in Schedule hereto;
m. "ECS" means Electronic Clearing Services dd. “Step up EMI” means where EMI increases after a specified
period of time as mutually agreed between the Borrower(s) and
the Bank, as specified in Schedule hereto;

_________________ _________________ _________________

(Borrower) (Co-borrower) (Co-borrower)
 02

ee. Dues shall mean the principal/interest/any charges levied on the loan loan account will be used to pay off the dues outstanding on 01.02.2021.
account which are payable within the period stipulated as per the terms of Assuming that nothing is paid/or there is partial payment (Rs Y) of dues
sanction of the credit facility. during the month of February, the overdue as on 01.03.2021 will be Rs. X-Y.
ff. Overdue shall mean the principal/interest/any charges levied on the loan Additionally, an amount of Rs Z becomes due as on 01.03.2021. Now any
account which are payable, but have not been paid within the period payment partial payment into the account on or after 01.03.2021 will be first
stipulated as per the terms of sanction of the credit facility. In other words, utilized to payoff the partial due of 01.02,2021 (RsX-RsY). If there is more
any amount due to the bank under any credit facility is ‘overdue’ if it is not recovery that the Rs. X- Rs.Y then after recovering dues of 01.02.201, the
paid on the due date fixed by the bank. remaining amount will be treated as recovery towards due of 01.03.2021.
gg. Non-Performing Asset(NPA) - is a loan or an advance where ii. Age of Oldest Dues – The age of oldest dues is reckoned in days from
i interest and /or installment of principal remains overdue for a period of the date on which the oldest payment is due and continues to remain
more than 90 days in respect of a term loan. unpaid. In the aforesaid illustration, if the Dues relating to 1st February
2021 remain unpaid till 01.03.2021, the age of the oldest dues is reckoned
ii. the account remains ‘out of order’ as indicated below in respect of an as 29 days on 02.03.2021.
Overdraft/Cash credit (OD/CC)
jj. Amortization Schedule/Repayment Schedule - The Amortization
iii. the bill remains overdue for a period of more than 90 days in the case of Schedule shall be provided separately after the disbursement of loan
bills purchased and discounted and shall consist details pertianing to exact due dates for repayment of
hh. “First In First Out”(FIFO) - The relevance of ‘First in First Out’(FIFO) is loan, breakup between principal and interest, in case of loan facilities
in appropriation of payments into the borrower account; The Principle of with moratorium on payment of principal and or interest, the exact date
FIFO i.e., ‘First In First Out accounting method is relevant to arrive at the of commencement of repayment etc., shall also be specified in the said
No of days of overdue for determining the SMA/NPA status. The FIFO amortization schedule.
principle assumes that, the oldest outstanding dues in the loan account kk. Classification as Special Mention Account (SMA) and Non-
needs to be cleared first. The FIFO method thus requires that what is due Performing Asset (NPA) - Lending institutions will recognize the incipient
first must be paid by the borrower first. stress in loan accounts, immediately on Default, by classifying them as
For example:- If in any loan account as on 01.02.2021 there are no over dues Special Mention Accounts (SMA) The basis of classification of SMA /NPA
and an amount of Rs. X is due for payment towards principal installment/ Category shall be as follows:
interest/charges any payment being credited on or after 01.02.2021 in the

Loans other than revolving facilities Loans in the nature of revolving facilities like cash credit/overdraft

SMA Sub-categories Basis for classification – Principal SMA Sub-categories Basis for classification – Outstand-
or interest payment or any other ing balance remains continuously
amount wholly or partly overdue in excess of the sanctioned limit or
drawing power, whichever is lower,
for a period of:
SMA-0 upto 30 days

SMA-1 More than 30 days and upto 60 SMA-1 More than 30 days and upto 60
days days

SMA-2 More than 60 days and upto 90 SMA-2 More than 60 days and upto 90
days days

ll. Out of Order– An account shall be treated as “out of order’ if 90 days or the outstanding balance in the CC/OD account is less that the
i. the outstanding balance in the CC/OD account remains continuously in sanctioned limit/drawing power but credits are not enough to cover the
excess of the sanctioned limit /drawing power for 90 days or interest debited during the precious 90 power but credits are not enough
to cover the interest debited during the previous 90 days’ period.
ii. the outstanding balance in the CC/OD account is less than the
sanctioned limit/drawing power but there are no credits continuously for

Illustrative movement of an account to SMA category to NPA category based on delay I non-payment of dues and subsequent up-gradation to
Standard category at day end process:

Due date of Payment Date Payment covers Age of SMA / NPA SMA since NPA
payment oldest Categorisation Date /SMA Date
Categorisation
dues in class date
days

01.01.2022 01.01.2022 Entire dues upto NIL

01.01.2022

01.02.2022 01 .02.2022 Partly paid dues of 1 SMA-O 01.02.2022

01.02.2022

01.02.2022 02.02.2022 Partly paid dues of 2 SMA-O 01.02.2022 NA

01.02.2022

01.03.2022 Dues of 01.02.2022 29 SMA-O 01.02.2022

not fully paid
01.03.2022 is also due
at EOD
01.03.2022

Dues of 01.02.2022 1 SMA-O 01.03.2022

fully paid, Due for
01.03.2022 not paid
at EOD 01.03.2022

No payment of full 31 SMA- 1 01.02.2022

dues of 01.02.2022
and 03.03.2022
01.03.2022 at EOD
03.03.2022

Dues of 01.02.2022 1 SMA-O 01.03.2022

fully paid , Due for
01.03.2022 not
fully paid at EOD
1.03.2022
 03

01.04.2022 No payment of dues of 60 SMA 1 01.02.2022

01.02.2022
01.03.2022 03.03.2022
and amount
due on
01.04.2022 at EOD
01 .04.2022

No payment of dues of 61 SMA 2 01.02.2022

01.02.2022 till /02.04.2022
01.04.22 at EOD
02.04.2022

01.05.2022 No payment of dues of 90 SMA 2 01.02.2022

01.02.2022 till /02.04.202
01.05.22 at EOD 2
01 .05.2022

No payment of dues of 91 NPA NPA 02.05.2 022

01.02.2022 till
01.05.2022 at EOD
02.05.2022

01.06.2022 01.06.2022 Fully Paid dues of 93 NPA NA 02.05.2 022

01.02.2022 at EOD
01.06.2022

01.07.2022 01.07.2022 Paid entire dues of 62 NPA NA NPA 02.05.2 022

01.03.2022 &
01.04.2022 at EOD
01.07.2022

01 .08.2022 01.08.2022 Paid entire dues of 32 NPA 02.05.2 022

01.05.2022 &
01.06.2022 at EOD
01.08.2022

01 .09.2022 01.09.2022 Paid entire dues of 1 02.05.2 022

01.07.2022 &
01.08.2022 at EOD
01.09.2022

01.10.2022 01.10.2022 Paid entire dues of 0 Standard Account STD from

01.09.2022 & with No Overdues 01.10.2022
01.10.2022

Note- Examples are illustrative and not exhaustive in nature covering a. In the name of the seller or vendor towards payment of the
common scenarios and that the IRACP norms and clarifications purchase price of the Property from whom the Property is being
provided by RBI on the subject will prevail. purchased utilising the Loan; or
1.2. Unless a contrary indication appears, any reference in this Agreement b. In the name of the materials supplier, civil contractor or any other
to: person as notified by the Borrower towards the materials, labour
a. All capitalised terms used but not specifically defined herein or professional costs, towards the construction or improvement or
shall have the respective meanings ascribed to them under the repair or extension of the Property; or
Schedule/relevant Annexure(s); c. In the name of the previous financier towards the repayment of
b. Any expression not defined herein but defined in the General the previous loan to be taken over by utilising the Loan; or
Clauses Act, 1897, the meaning or interpretation assigned d. In the name of the Borrower/Co-Borrower, at the discretion of the
to such expression therein shall also carry the same meaning Bank.
herein; The disbursement made in terms of (a) to (c) above shall be deemed to
c. A person includes any person, firm, company, corporation, be a disbursement to the Borrower. The Borrower shall be required to
government, state or agency of a state or any association, trust make disbursement request to the Bank as per the tentative disbursement
or partnership (whether or not having separate legal personality); schedule mentioned in the Schedule. However, in case of any dispute, the
d. The singular includes the plural (and vice versa); decision of the Bank shall be final.

e. Reference to the masculine gender includes references to the 3.2. The Bank may not disburse or further disburse, at any time, any amount
feminine gender and the neuter gender and vice versa. under the Loan unless the following conditions are complied with in the
sole discretion of the Bank:
f. Unless the context require or otherwise specifically mentioned,
reference to the Borrower shall include Co-Borrower as well; a. The Borrower shall have duly executed and delivered this
Agreement to the Bank;
g. In the event of any disagreement or dispute between the Bank
and the Borrower regarding the materiality or reasonableness b. The Borrower shall have satisfied the Bank of the Borrower’s
of any matter including of any event, occurrence, circumstance, clear and marketable title to the Property;
change, fact, information, document, authorisation, proceeding, c. If required by the Bank, the Borrower shall have submitted to the
act, omission, claims, breach, default or otherwise, the opinion Bank the certificate issued by the architect approved by the Bank
of the Bank as to the materiality or reasonableness of any of the with respect to the progress of construction of the Property.
foregoing shall be final and binding on the Borrower. d. The Borrower shall have submitted to the Bank a certificate of
h. The Sanction letter shall be read in conjunction with the provisions employment from his employer and his financial statements;
of this Loan Agreement and in the event of any conflict in the e. The Borrower shall have submitted to the Bank post-dated
terms of the aforesaid sanction letter and this Loan Agreement, cheques, standing instructions, electronic clearing system
the terms of Loan Agreement will prevail over the said Sanction towards repayment of EMIs / P-EMIs amount; f. No event of
Letter. Also the Bank/IDFC FIRST shall be entitled to alter/ default shall have occurred;
vary/ modify the terms and conditions of this Agreement or the
Sanction Letter at any time by notice in writing to the Borrower or g. The Borrower shall have assigned in favour of the Bank, the
notifying the same on its website, either on its own accord or as insurance policy(ies) as may be required by the Bank;
may be required by any Statutory Authority. h. Any other document or writing as the Bank may require in its sole
discretion.
2. LOAN AMOUNT 3.3. Notwithstanding, anything to the contrary contained herein, the Borrower
does hereby confirm that the disbursement shall be deemed to have
The Borrower agrees to borrow from the Bank and the Bank agrees to been made on the date on which the Bank debits the Loan Account
grant to the Borrower, the Loan upon the terms and conditions mentioned simultaneously with the disbursement of the Loan in terms of Clause
in this Agreement. 3.1 without the Bank concerning itself with the receipt/realisation of such
disbursement by the beneficiary/recipient.
3. DISBURSEMENT 3.4. The Borrower agrees and undertakes that in case the Loan is not withdrawn
3.1. The Bank shall, subject to the provisions of this Agreement and unless during Availability Period, the Bank shall be entitled to withhold and/or
agreed between the Borrower and the Bank otherwise, disburse the Loan cancel fully and absolutely any further disbursement under the Loan. In
in one or more tranches by issuing a Banker’s Payment Order or a Demand such an event, the Bank shall be entitled to recall any disbursed amount
Draft crossed as “A/c Payee only” or National Electronic Fund Transfer or of the Loan together with interest, fees, costs, charges and expenses and
Real Time Gross Settlement Systems: all other amounts payable under this Agreement.
 04

3.5. If the entire amount of the Loan is not fully drawn by the Borrower within a incurred or paid by the Bank) in relation to this Agreement and/
period of one month from the Effective Date or from the date as mentioned or any Security including those incurred for repossession and/or
in the Sanction Letter of the Loan or such other period as may be specified sale of Property and/ or any Security and/or for recovery of the
by the Bank in writing, EMIs shall be altered and re-scheduled in such Loan or any part thereof. In case of failure of the Borrower to pay
manner and to such extent as the Bank may, in its sole discretion, decide the foregoing, the Bank shall be entitled to debit all other amounts
and the repayment shall thereupon be made as per the said alteration and due and payable by the Borrower under this Agreement to the
re-scheduling notwithstanding anything stated in this Agreement. Loan Account and the same shall form part of the Loan.
3.6. Notwithstanding, anything to the contrary contained herein, the Bank c. Processing Fees: The Borrower acknowledges that processing
shall not in any event or circumstance be liable or be construed as being fee has been paid by the Borrower upfront as an Application Fee
liable to disburse any amount beyond the Loan amount for any reason or such fees as stipulated in the Sanction Letter/ Schedule which
whatsoever. shall be, deducted from the Loan amount at the disbursement
4. INTEREST, FEES/CHARGES/COSTS ETC. of the Loan. The Borrower acknowledges that the processing
fees are non-refundable in case the Borrower does not avail the
4.1. Interest sanctioned Loan.
a. The Borrower shall pay to the Bank, interest on the principal d. Application Fees: The Borrower acknowledges that Application
amount of the Loan outstanding from time to time at a rate equal Fees has been paid by the Borrower upfront together with the
to the Applicable Rate of Interest as mentioned in the Schedule. Application Form or Processing Fees and such other Fees
b. The Borrower is aware and confirms with the Bank that in case as stipulated in the Sanction Letter/Schedule. The Borrower
of Floating Rate of Interest, the Applicable Rate of Interest shall acknowledges that Application Fees, Processing Fees and such
change as and when there is any change/reset in the EBR. other fees is non-refundable.
The Borrower shall be deemed to have notice of such change 5. REPAYMENT
whenever the same is announced/notified/displayed by the Bank
on its website/Branch or otherwise. The change in the Applicable 5.1. The Loan (including the principal, interest thereon and any other charges,
Rate of Interest on account of the aforesaid shall become premium, fees, taxes levies or other dues payable by the Borrower to the
effective from the EMI payment date falling next after such reset. Bank in terms of this Agreement) shall be repayable by the Borrower to the
Bank-
c. The Borrower is aware and agrees that in case of Floating rate
of Interest or Spilt Rate of Interest, upon any change in interest a. At the Branch (or at any other branch of the Bank or at any other
rate or if the Borrower makes prepayment then either EMI or loan place as may be notified by the Bank) by way of post- dated
tenure will change cheque and/or standing instruction and/or electronic clearing
system or in any other manner as the Bank may specify from time
d. The Borrower agrees that in case the Applicable Rate of to time in writing.
Interest is Fixed Rate of Interest, post completion of the fixed
rate tenure mentioned in the Annexure, the Borrower will have b. By way of EMI as mentioned in the Schedule towards repayment
an option to continue at the then applicable fixed/floating rate of principal and interest; and
by communicating the same, in writing, to the Bank. If no such c. During the Principal Moratorium Period, by way of amount
communication intimation is received from the Borrower, the calculated as per P-EMI and as mentioned in the Schedule,
Bank shall be at liberty to charge interest at the then Floating Rate in case where the Loan is proposed to be paid before the
of Interest. Notwithstanding the same, the Fixed Rate of Interest commencement of EMI or towards repayment of interest before
may in the sole discretion of the Bank be altered suitably and the commencement of the EMI.
prospectively, on account of changes in the internal policies of d. The Borrower will amortise the Loan as stipulated in the Schedule
the Bank or if unforeseen or extraordinary changes in the money attached hereto, subject to any other changes in such amortisation
market conditions take place or any change in any applicable as communicated later in writing by the Bank to the Borrower.
laws or regulations or due to any other reason whatsoever. If However, in the event of delay or advancement, for any reason
the Borrower is not agreeable to the revised rate by the Bank whatsoever, in the disbursement of the Loan, the Due Date of
then within fifteen Business Days of receipt of the notice from payment of first EMI shall in such case be the corresponding day
the Bank intimating the change, the Borrower shall request the of the following months to the day currently stated in the Schedule
Bank to terminate the Loan and shall repay the Loan together attached hereto.
with interest, cost and such other amounts as may be due to the
Bank in full in accordance with the provisions of this Agreement e. Unless otherwise agreed to/by the Bank, any amount due and
relating to Prepayment. payable or received by the Bank, shall be adjusted/ appropriated
in following order without any prior intimation to the Borrower:
e. Notwithstanding anything to the contrary contained in this Firstly, towards costs, charges, expenses and other monies due
Agreement, the interest payable by the Borrower shall be subject and payable by the Borrower to the Bank; Secondly towards
to the changes in rate of interest made by the Reserve Bank of overdue and penal interest due and payable and/or accruing and
India from time to time. payable to the Bank; Thirdly towards interest due and payable
f. Interest on the Loan shall begin to accrue simultaneously with and or accruing due and payable to the Bank; Lastly towards
the Bank’s disbursement of the Loan by issuing disbursement repayment of the amount of instalments of the Principal due and
payment order/demand draft or otherwise without the Bank payable by the Borrower to the Bank;
concerning itself with the receipt of such disbursement by the 5.2. No notice, reminder or intimation will be given to the Borrower regarding
beneficiary/recipient and also with the realisation of such payment the Borrower’s obligation to service the Loan/ other dues under this
order /demand draft or the time taken in such realisation. Agreement on each due date.
g. Interest on the Loan shall be computed and debited to the Loan 5.3. Notwithstanding anything to the contrary contained in this Agreement, the
Account as following- Borrower agrees that the Bank shall have the right at any time or from time
i. On the day of each calendar month/quarter/half year/ to time to review and reschedule the repayment terms of the Loan or of the
year as stated in the Schedule; outstanding amount thereof.
ii. Taking the basis of 365 or 366 days in a year, as may be 5.4. The Borrower also undertakes and agrees to pay the interest on the Loan
applicable; and other costs/charges under this Agreement, free from any deduction
iii. On the amount outstanding on the last day of the whether on account of tax or otherwise. Should any applicable law at any
preceding period of one month/quarter/half year/year as time require any deduction or withholding to be made from a payment,
stated in the Schedule. Borrower’s liability in respect of such payment shall be for a revised amount
such that after making of such deduction or withholding, the net payment
iv. Interest from the date of disbursement till the shall be equal to the amount which the Bank would have received, had
commencement of the EMI shall be payable every no such deduction or withholding been made. The Borrower shall hold the
month as per the P-EMI mentioned in the Schedule, if Bank harmless and fully indemnified for any claim which may be made in
applicable. this regard by any tax authorities and undertake to pay forthwith any such
h. The Bank may charge Default interest on the amounts due at demands which the Bank may become liable to pay. If the Borrower fails
the Default Rate of Interest in accordance with the terms of this to pay the amount so demanded by the Bank, then the Borrower hereby
Agreement. authorises the Bank to enforce the Security, for the purpose of recovery of
the said tax amount.
4.2. Fees/Charges/Costs
5.5. The Borrower agrees and confirms the amounts payable by the Borrower
a. The Borrower has paid/agreed to pay as and when demanded by
in terms of the Agreement under various heads towards diverse costs
the Bank the processing charges, service charges, disbursement
and charges and is aware that all amounts so paid by the Borrower shall
charges, collection charges, penalties (if any), registration
be treated by the Bank as conclusive payments by the Borrower towards
charges, other charges/fees/costs etc. as mentioned in the
those respective costs and charges. The Borrower agrees that if at any
Schedule/ Annexures/Sanction Letter or as specified by the Bank
time it is discovered that there are any amounts due to the Bank for which
from time to time. The Borrower understands and agrees that
credit was erroneously passed by the Bank, then notwithstanding any No
the foregoing charges/fees/costs may be revised by the Bank objection certificate (NOC) etc. that may have been issued by the Bank,
from time to time. The processing fees, service charge and/or the Bank shall be entitled to claim such amounts from the Borrower and the
other charges/fees/costs shall be non-refundable and would be Borrower shall make such payment on a demand by the Bank to that effect.
payable to the Bank whether or not the Loan has been drawn
down. 5.6. All the charges levied by the Bank/indicated in the Agreement including
but not limited to the processing charges, service charges, disbursement
b. The Borrower agrees and covenants with the Bank that the charges, collection charges, penalties (if any), registration charges,
Bank, may at its sole discretion, require the Borrower to promptly Post Dated Cheque (PDC)/ Standing Instruction (SI)/Electronic Clearing
pay (a) the applicable stamp duty on this Agreement and also System (ECS) dishonour charges, swap charges and other charges/
on such other documents as may be executed in relation to or fees/costs etc. shall be exclusive of all taxes and statutory levies as may
incidental to these presents; (b) all present and future taxes which be applicable on the same including but not limited to Goods & Service
may include any duties, expenses and other charges whatsoever Tax and cusses thereon and shall become payable only upon the Bank
in relation to this Agreement, the Loan, the Property and/or the exercising its right to levy the same, which may be reflected in the
Security and (c) all other charges, costs and expenses from time periodic account statements sent or in separate advices or other similar
to time specified by the Bank (including all costs and expenses document. No delay or omission to exercise any right, power or remedy

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(Borrower) (Co-borrower) (Co-borrower)
 05

accruing to IDFC upon any breach or default of the customer(s) under this charges mentioned in the Schedule, as amended from time to
Agreement shall impair any such right, power or remedy of IDFC either time.
under this Agreement or generally under any other law in place for the b. Subject to above, if the Borrower pre-pays only a part of the Loan,
time being in force. Any waiver/acquiescence in respect of the Specified the Bank shall be entitled to adjust the amount pre-paid against
Event, relating to the levy of Charges, under this Agreement shall be at the amount payable by the Borrower in such manner as the Bank
sole discretion of IDFC whether or not under intimation to the customer(s). thinks fit. In such an event the Bank shall be entitled to reschedule
IDFC further reserves the right to modify the Charges including addition of the repayment schedule at its sole discretion and the Borrower
further category of similar Charges or waiver of any such Charges at its agrees to adhere to such altered re-payment schedule.
sole discretion, in connection with any Specified Event. The customer(s)
absolutely and irrevocably acknowledges and consents that it shall be 5.12. Recall of the Loan by the Bank:
bound by any such modification in the nature or extent of Charges even if it The Borrower agrees that the Bank shall be entitled to, at any time, in its
the same is not expressly documented or intimated and the same shall be discretion, recall the Loan by giving to the Borrower notice in writing. It is
deemed to be an alteration/modification to the terms of this Agreement. specified that the repayment schedule set out in the Schedule is without
5.7. EMIs may be either fixed or step up or step down. In case of step up EMIs, prejudice to the Bank’s right to recall the entire Loan and to demand
the EMIs shall increase after the payment of mutually agreed EMIs as payment of the Loan. Upon the expiry of the period of notice, if any given,
specified in Schedule hereto. The indicated EMI shall be the EMI for the the Loan Amount immediately stand repayable by the Borrower to the
first repayment. In case of step down EMIs, the EMIs shall decrease after Bank.
payment of mutually agreed EMIs as specified in Schedule hereto. 6. SECURITY
5.8. The Borrower agrees, declares and confirms that, notwithstanding any of 6.1. The repayment of the Loan, interest, Default interest, fees, costs, charges
the provisions of the Indian Contract Act, 1872 or any other applicable law, and expenses and all other amounts payable under this Agreement to the
or any terms and conditions to the contrary contained in this Agreement, Bank shall be secured by:
the Bank may, at its absolute discretion, appropriate any payments made
a. Way of first exclusive charge by way of mortgage in favour of the
by the Borrower under this Agreement/any amounts realized by the Bank
Bank over the Property
by enforcement of Security or otherwise, towards the dues payable by the
Borrower to the Bank under this Agreement and/or other agreements b. Any other security as specified in the Schedule or as may be
entered into between the Borrower and the Bank and in any manner specified from time to time by the Bank.
whatsoever. 6.2. The Borrower shall furnish such bonds, promissory notes, undertakings,
5.9. Delay/default in payment of PEMI/EMI etc. and other documents as may be required by the Bank from time to time
for the purpose of securing the Loan.
In the event of default/delay in payment of any P-EMI(s)/EMI(s) or other
monies payable under this Agreement such defaulted amount shall carry 6.3. The Bank shall have the right to decide, at its sole discretion the place,
Default Interest Rate, computed from the respective due dates and shall be timing, and the manner of creation of mortgage over the Property or
compounded on daily basis. creation of any other security/additional security by the Borrower for
securing the Loan and all other amounts under this Agreement.
5.10. Post Dated Cheque (PDC)/Standing Instruction (SI)/Electronic
Clearing System (ECS): 6.4. The Bank shall be entitled to call upon the Borrower and the Borrower shall
be liable to furnish to the Bank additional security as decided by the Bank
a. All the payments, if the Bank so decides, may be collected
in the event of the dues being more than the market value of the Security
through PDCs which shall be handed over at Branch and
(as may be assessed by the Bank from time to time and the same shall be
submission of such PDCs shall be deemed to be an unconditional
final and binding on the Borrower) or otherwise required by the Bank.
and irrevocable authority given by the Borrower to the Bank to
present the cheques on their respective dates. The Bank shall 6.5. The Borrower shall not sell, charge, lease, surrender, assign, transfer,
have the authority to fill and finalise all such instruments. The let, further encumber or otherwise howsoever alienate, transfer, create
expression PDC shall wherever the context so requires shall be interest in favour of any other person or deal with/in the Property/Security
deemed to include ‘Electronic Clearing System’ and ‘Standing or any part thereof during the continuation of the obligations under this
Instruction’. Agreement.
b. The Borrower shall submit with the Bank such minimum number 6.6. The Borrower shall, if required by the Bank, (i) comprehensively insure
of PDCs as may be prescribed by the Bank from time to time. and keep insured the Property with an insurance company through out the
Such PDCs shall be deemed to have been given for adequate tenure of the loan against loss by fire, earthquake, floods and any loss or
consideration already received by the Borrower and shall not damage to the Property due to any force majeure or Act of God or other
absolve the Borrower from its liability to pay the said sums damages (ii) obtain insurance cover against the risk of death and injury to
hereunder until the PDC is duly realized. the Borrower, with the Bank as sole beneficiary and submit to the Bank
original insurance policy document(s) and premium payment receipts
c. It is expressly agreed and understood that the Borrower shall at
thereof. In case such insurance premium paid by the Bank on behalf of
no time issue any communication to the Bank for stopping or
the Borrower to the insurance company shall be deemed to be part of the
postponing the presentment of the PDCs and the Bank is not
Loan availed by the Borrower and shall be added as the principal amount
bound to take notice of any such communication and which, if
to the Loan granted herein and shall form part of the Loan. The insurance
issued, will be regarded as a breach of this Agreement.
premium being a part of Loan may be disbursed by the Bank directly to
d. The Borrower agrees in the event of any dishonour of PDC/SI/ such an insurance company approved by the Bank and such disbursement
ECS instruction the Borrower agrees to pay dishonour charges shall be deemed to be disbursement to the Borrower. The Borrower shall
as shall be intimated by the Bank to the Borrower, in addition to repay to the Bank the amounts paid by the Bank to the insurance company
any Default interest that may be levied by the Bank. towards insurance premium as mentioned above as part of repayment
e. The Borrower undertakes that in the event of any variation in: instalments. Wherever the Borrower agrees for the insurance coverage,
(except for the premium amount) all expenses, charges, fees service
i. The date of payment of P-EMI/EMI or any other amount tax and other taxes etc. as applicable shall be incurred and paid by the
payable under this Agreement; Borrower. In the even the said charges are paid by the Bank on Borrowers
ii. The amount of interest, principal or P-EMI(s)/EMIs; behalf, the Borrower shall reimburse the same to the Bank within 24 hours
iii. The numbers thereof; or of the Bank’s demand. Notwithstanding what is stated in this clause,
Borrower hereby expressly agrees and confirms that the insurance contract
iv. The value of the Property, is between the insurer & the Borrower and the Bank shall not responsible
Or if otherwise required by the Bank, the Borrower shall forthwith in any manner whatsoever related to the insurance contract (including but
issue fresh PDCs/ ECS/SI/NACH instructions to the Bank as may not limited to the case where the risk is accepted/not accepted, partially/
be required by the Bank. fully by the insurer) and the Borrower will continue to remain liable for all
the dues payable by it to the Bank under this Agreement. Borrower hereby
f. If the Borrower at any time during the tenure of the Loan, wishes also expressly agrees and confirms that in case the risk is not accepted by
to replace any PDC with another then the Borrower will be the insurer, the premium amount paid by the Bank directly to the insurance
required to pay swap charges as may be determined by the Bank company on behalf of the Borrower shall be returned directly to the Bank
for every PDC so replaced. It is clarified that it shall be at the sole and will be adjusted by the Bank in loan tenure alteration.
discretion of the Bank to either replace the PDC or to refuse the 6.7. Notwithstanding what is stated in aforesaid clause Borrower hereby under
same. takes that until any moneys are due or outstanding under this Agreement,
g. The Borrower hereby undertakes that the Borrower shall not the Borrower shall ensure that the insurance policy/ies wherein the Bank
close the account on which the PDC/SI/ECS/NACH is issued is the sole beneficiary are valid, subsisting and operative by complying
and also shall not change the authorized signatory/ies to the said with the terms of issue of such insurance policy/ies including the timely
account without the prior consent of the Bank. payment of the premium for such policy/ies and agree to produce the
h. Notwithstanding anything to the contrary contained in this necessary proof/receipts of such validity/subsistence/ operativeness to the
Agreement and irrespective of the mode of repayment selected Bank whenever required. The Borrower shall ensure to have the property
by the Borrower, upon any default by the Borrower in repayment insured at all times during the subsistence of the Loan.
of any of the EMI/PEMII/any other amount due under the 6.8. Any security(ies) furnished by the Borrower(s), under any other agreement
Agreement, the Bank shall be entitled, without prejudice to its entered into or to be entered into with the Bank, including its subsidiaries
other rights under the Agreement or law, to present and/or re- shall be deemed to be the security(ies) under this Agreement. Further the
present the PDC issued by the Borrower in favour of the Bank Borrower(s) agree(s) that the security(ies) offered in respect of this Loan
i. The Borrower shall not demand any return of the said PDCs or shall be deemed to be continuing security(ies) in respect of other loan(s)/
any other documents provided to the Bank in relation to the Loan facility(ies) obtained/to be obtained by the Borrower(s) from the Bank and
at any point of time; in case of foreclosure of Loan, such PDCs shall not be discharged till such time all the loan(s)/facility(ies) are fully
will be destroyed by the Bank. discharged to the satisfaction of the Bank.
5.11. Prepayment of Loan 6.9. The Borrower acknowledges that in the event of repayment by the Borrower
of the Loan and other amounts due under this Agreement but there being
a. The Bank may, at its sole discretion and on such terms as to pre- any outstanding by the Borrower under any other financial facility availed
payment fees, etc., as it may prescribe from time to time, permit of by the Borrower from the Bank or any other person from the Bank for
pre-payment or acceleration of P-EMIs/EMIs at the request of which the Borrower has extended his guarantee, then in such event, the
the Borrower. Subject to the applicable laws and if permitted by Bank shall not be obliged to release the Security and the Borrower hereby
the Bank, the Borrower shall pay to the Bank such pre-payment authorizes the Bank to extend the Security to cover such outstanding

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(Borrower) (Co-borrower) (Co-borrower)
 06

financial facility. u. The Borrower undertakes the responsibility to declare and

7. BORROWER’S REPRESENTATIONS, WARRANTIES, COVENANTS disclose within 30 days from the date of change, any changes that
AND UNDERTAKINGS may take place in the information provided to the Bank.
7.1. With a view to induce the Bank to grant the Loan, the Borrower, hereby v. The Borrower also agrees that failure to disclose any material
acknowledges/agrees/represents/warrants to/ covenants/ undertakes with fact known to the Borrower, now or in future, may invalidate the
the Bank that - Borrower’s application and the Bank would be within its right to
put restrictions in the operations of the Loan Account or close it
a. the Loan is an uncommitted Loan and can be recalled by the Bank or report to any regulator and/or any authority designated by the
on demand, and may be cancelled and repudiated in part or in Government of India (GOI) /Reserve Bank of India for the purpose
entirety by the Bank, at any time without notice and without giving or take any other action as may be deemed appropriate by the
any reason. Bank if the deficiency is not remedied by the Borrower within the
b. Information furnished in the Application is true and complete in all stipulated period.
respects; w. It shall be the responsibility of the Borrower to educate himself/
c. All consents, approvals, clearances, permissions, authorizations, itself/themselves and to comply at all times with all relevant laws
or requirements required in connection with the execution and relating to Foreign Account Tax Compliance Act (FATCA)/(CRS)
validity of this Agreement and for creation/perfection of Security in reporting.
favour of the Bank have been obtained and are in full force and x. The Borrower also agrees to furnish and intimate to the Bank,
effect; any other particulars that are called upon the Borrower to provide
d. There has been no material adverse change in the financial on account of any change in law either in India or abroad in the
position of the Borrower nor has any event taken place which is subject matter herein.
prejudicial to the interest of the Bank which is likely to materially y. The Borrower indemnifies the Bank for any loss that may arise
and/or adversely affect the ability of the Borrower to perform all or to the Bank on account of providing incorrect or incomplete
any of its obligations under this Agreement. information.
e. The Loan shall be utilised only for the Purpose. z. The Borrower shall not in any case or situation permit any change
f. The Borrower shall allow any person authorized by the Bank to in the ownership or control of the Borrower whereby the effective
have free access to the Property for the purpose of inspection/ beneficial ownership or control of the Borrower shall change in any
supervision of the Property; manner whatsoever, without the prior written consent of the Bank
g. There are no pending claims demands litigation or proceedings aa. The Borrower shall not make any changes in the constitution,
against the Property before any court or authority; composition and the registered address of the Borrower without
the prior written consent of the Bank;
h. The Borrower shall notify the Bank of any event or circumstances
which might be or become a cause of delay in the commencement, bb. The Borrower shall not, in case the Borrower being a Company,
construction or completion of the construction/purchase/ declare any dividend if any instalment towards principal or interest
modification of the Property; remains unpaid on its due date;
i. The Borrower/Co-Borrower is (when the Property is in existence) cc. In case the Borrower being a limited liability partnership, the
or shall be (when the Property shall come in existence upon the Borrower confirms that the Bank has sanctioned the Loan to the
proposed utilization of the Loan) absolutely seized and possessed Borrower by relying upon inter alia the provisions of section 33(2)
with and sufficiently entitled to the Property and shall not during of the Limited Liability Partnership Act, 2008 and in the event that
the tenure of this Agreement create any encumbrance over the any modification is carried out by the Borrower the ownership and/
Property or any part of it. The Borrower shall not combine, merge, or beneficiary of the property, change in composition, constitution
amalgamate or consolidate the Property with any other property of the Borrower without notice to the Bank, the Bank would enforce
with any right of way or easement in to or over the Property; the obligations of the Borrower and the partners against each of
the partners in their individual capacity.
j. There are no mortgages, lien, charges or other encumbrances or
any other rights of way, light, water or other easements or right of dd. The Borrower shall not, in case the Borrower being a partnership
support on the whole or any part of the Property, save and except firm, change the composition of its partners;
those as may be disclosed to the Bank. ee. Except to the extent disclosed to the Bank : (i) all the Borrower’s
k. Any third party rights created by the Borrower over the Property contracts or agreements with, or any commitments to, any affiliates
or any part of it (including by way of license or tenancy or use or group companies (if applicable) are on arms’ length basis; (ii)
as guest house or otherwise) shall be subject to the charge of the (a) where the Borrower is an individual, he/ she is not a director
Bank over the Property. or specified near relation of a director of a banking company; (b)
where the Borrower is a partnership firm/HUF/ limited liability
l. The Borrower shall not change the residential status of the partnership firm, none of the partners or members of the HUF is
Property and maintain the Property in good order and habitable a director or specified near relation of a director of a banking
condition and shall also duly pay all taxes and other duties payable company; and (c) where the Borrower is a joint stock company,
in relation to the same. The Borrower shall submit with the Bank none of its directors, is a director or specified near relation of a
documentary evidence towards payment of the forgoing; director of a banking company; (iii)(a) where the Borrower is an
m. The Borrower shall file Notice of Intimation or such other details in individual, that he/ she is not a specified near relation to any
respect of mortgage created/to be created over the Property with senior officer of the Bank, (b) where the Borrower is a partnership
the concerned registrar and any other authority as required by the firm/HUF/ limited liability partnership firm, none of the partners or
applicable laws and the Bank; members of the HUF, is a specified near relation of any senior
n. The Borrower shall whenever required by the Bank submit officer of the Bank, and (c) where the Borrower is a joint stock
statements of annual income certified and audited by a practicing company, none of its directors, is a specified near relation of any
chartered accountant along with a copy of the tax returns filed senior officer of the Bank (d) where the Borrower is a Trust or
with the income tax authorities duly certified by such chartered Society, none of the trustees of the Trust or the members of the
accountant and such other information/ documents concerning Society, is a specified near relation of any senior officer of the
employment, trade, business, profession or otherwise as the Bank
Bank may require from time to time; ff. The Borrower shall ensure that neither the Borrower nor any
o. Wherever applicable, the Borrower shall inform the Bank of any director/partner/member/trustee of the Borrower has been
likely change in his employment or about his/her superannuation/ declared a wilful defaulter; in case any director/partner/member/
retirement. trustee has been declared as a wilful defaulter, the Borrower shall
take expeditious steps for removal of such person.
p. The Borrower shall (in case of more than one borrower) be jointly
and severally liable to repay the Loan, interest and all other sums gg. The Borrower shall not, during the tenure of this Agreement, avail
due and payable under this Agreement and to observe its terms of or obtain any further loan or facility on the security of the
and conditions; Property without the prior written consent of the Bank.
q. Wherever applicable, the Borrower shall notify the Bank regarding hh. .The Borrower acknowledges and accepts the rates of interest and
the change in his/her/their status as a resident/ non-resident its calculation method, other fees, charges and all other amounts
Indian. In case of being non-resident Indian/person of India payable as per the terms of this Agreement as reasonable and the
origin, shall abide by and fulfil the provisions of Foreign Exchange Borrower has understood the meaning of each terms and financial
Management Act, 1999, as amended from time to time and all implications, amounts payable and liabilities and obligations
other applicable laws with respect to purchasing, retaining, using, created under this Agreement.
selling immovable property in India and repatriating proceeds ii. The Borrower agrees that the obligation to deduct and deposit tax,
outside India and shall indemnify and keep indemnified the Bank if applicable, on purchase of immovable property under Section
in that behalf. 194IA of the Income Tax Act, 1961 rests with the Borrower and
r. All the amounts including the amount of own contribution paid/ the Bank will not be liable to make such payments on behalf of the
payable in connection with the Property as well as the Security Borrower.
is/shall be through legitimate source and does not/shall not 8. EVENTS OF DEFAULT AND CONSEQUENCES THEREOF
constitute an offence of money laundering under the Prevention 8.1. The Bank may by a written notice to the Borrower, declare all sums
of Money Laundering Act, 2002. outstanding under the Loan (including the principal, interest, charges,
s. The Borrower hereby certifies that he/it/they have declared his/its/ expenses) to become due and payable forthwith and enforce the Security
their status as per the rules applicable under section 285BA of upon the occurrence (in the sole decision of the Bank) of any one or more
the Income Tax Act, 1961 (the Act) as notified by Central Board of of the following:
Direct Taxes (CBDT) in this regard. a. The Borrower fails to pay to the Bank EMI / P-EMI / any amount when
t. The Borrower certifies that the information provided by the due and payable under this Agreement;
Borrower to the Bank is to the best of the Borrower’s knowledge b. If the Borrower fails to submit the requisite number of PDCs or if any
and belief, true, correct, and complete and that the Borrower of the PDC is dishonoured.
has not withheld any material information that may affect the
assessment/categorization of the account as a reportable account c. Delay in commencement, construction, or completion of the
or otherwise. construction/purchase/modification of the Property.

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(Borrower) (Co-borrower) (Co-borrower)
 07

d. The Borrower fails to pay to any person other than the Bank any the security documents or pursuant to this Agreement upon default/ breach
amount when due and payable or any person other than the Bank of terms of this Agreement, or deposited with Bank or under its possession
demands repayment of the Loan or dues or liability of the Borrower or control and appropriate the same towards satisfaction/repayment of any
to such person ahead of its repayment terms as previously agreed other loan/ amounts due to the Bank on account of under any another
between such person and the Borrower; agreement or transaction entered into by the Borrower with the Bank and/
e. The Borrower defaults in performing any of his obligations under or the Indebtedness of the Borrower.
this Agreement or breaches any of the terms or conditions of this The Bank shall have right to apply and/or appropriate and/or set off any
Agreement or any other security documents, undertakings etc. credit balance of the Borrower(s) or any monies/assets (including but
executed in favour of the Bank; not limited to property, assets, securities, shares, stocks, and the like)
f. The death, insolvency, failure in business, commission of an act of belonging to the borrower(s) coming in the hands of the Bank towards
bankruptcy, order for winding up, dissolution (in case of partnership repayment of loan under this agreement or any other agreement upon
firms), general assignment for the benefit of creditors, if the Borrower occurrence of the event of default. Exercise any such right shall be binding
suspends payment to any creditors and/ or the Borrower threatening on the Borrower(s)
to do so and/or the filing of any petition in bankruptcy/winding up/ 9. APPOINTMENT OF THE BANK AS THE BORROWER’S ATTORNEY
dissolution of by, or against the Borrower and the same is not The Borrower shall appoint the Bank as its true and lawful attorney to do
withdrawn within 30 days of being admitted; and execute for and in the name and on behalf of the Borrower and where
g. Any Representations, Warranties etc. herein being found to be or the Borrower is more than one individual, jointly and severally, all or any of
becoming incorrect or untrue; the acts, deeds, and things, specified therein. The powers so vested in the
h. If the Borrower fails to create the Security as provided herein or if Bank shall be irrevocable and subsist in favour of the Bank till all dues of
the Property is destroyed, sold, disposed of, charged, encumbered, the Borrower to the Bank are fully satisfied.
alienated, attached, or restrained in any manner or if the value of 10. ASSIGNMENT AND TRANSFER
the Property or any Security created or tendered by the Borrower, The Bank shall have a right to sell or transfer (by way of assignment,
in the sole discretion and decision of the Bank, depreciates entitling securitisation or otherwise) whole or part of the Loan and outstanding
the Bank to call for further security and the Borrower fails to give amounts under the Loan or any other rights under this Agreement or
additional security; any other document pursuant hereto to any person in a manner or under
i. If any consent, authorisation, approval or license of or registration such terms and conditions as the Bank may decide in its sole discretion.
with or declaration to governmental or public registration with or The Borrower shall not transfer or assign the rights under this Agreement
declaration to governmental or public bodies or authorities required without previous written consent of the Bank
by the Borrower in connection with the execution, delivery, validity, The Borrower expressly agrees that in the event of any sale, assignment
enforceability or admissibility in evidence of this Agreement or the or transfer as aforesaid, to accept the Lender/Assignee to whom the Loan
performance by the Borrower of its obligations hereunder is modified is sold, assigned or transferred as the Lender and make the repayment of
in a manner unacceptable to the Bank or is not granted or revoked or the Loan to the Lender/Assignee. The Borrower acknowledges and agrees
terminated or expires and is not renewed or otherwise ceases to be in that the Bank /the Lender/Assignee shall have the right to change the
full force and effect; Interest Rate from time to time under its policies at its sole discretion and
j. An event of default howsoever described occurs under any other the Borrower shall be bound by such modifications in totality.
agreement or document relating to any indebtedness of the Borrower Any cost in this behalf, whether on account of such sale, assignment or
with the Bank or other lenders, if any. transfer or enforcement of rights and recovery of outstanding and dues
k. Any other event likely to have materially adverse effect on the ability shall be to the account of the Borrower. The Borrower under takes to pay
of the Borrower to make payments under this Agreement. to such assignee the difference between the Loan outstanding and the
8.2. Consequences of default: amount received by the Bank in the event of transfer of the loan under this
Agreement to such assignee.
a. In the event of any default as mentioned in Clause 8.1 above the Bank
shall have the right to: 11. DISCLOSURE/SHARING OF INFORMATION/ PRIVACY OF BORROWER
INFORMATION
i. Cancel/Recall the entire Loan and declare all monies outstanding
under this Agreement to be due and immediately payable; 11.1. The Borrower irrevocably agrees and consents to the Bank at any time
and in any manner disclosing and/or making available to any agencies,
ii. Take possession of the Security so created whether by itself or bureaus, affiliates or subsidiaries of the Bank, associations and other
through any of the recovery agents or attorneys as may be appointed persons whosoever any information (including personal and financial
by the Bank and alienate sell, transfer the same. information) and documents of or relating to the Borrower, including any
iii. Take any other action as it may deem fit for recovery of its dues and credit information, in such cases where the Bank considers appropriate
enforcement of the Securities. including where such disclosure is permitted or required by or under law
or where the Bank is of the view that the interests of the Bank require
iv. to communicate in any manner, it may deem fit, to or with any such disclosure or for furnishing such information and documents for
person or persons including guarantors, person giving reference to preparation, publication and distribution of credit reports and credit opinions
loan, with a view to procure assistance of such person or persons in relating to the Borrower to other persons including banks and financial
recovering the defaulted amounts including but not limited to visiting institutions. The provisions of this clause shall survive termination of this
the property and/or any place of work of the Borrower. Agreement. The Bank shall also have a right to obtain similar information/
b. The Bank shall be entitled to take possession of the Property, reports relating to the Borrower from credit agencies, credit bureaus, other
irrespective of whether the Loan has been recalled whenever in the banks and financial institutions as the Bank may deem fit.
opinion of the Bank, there is an apprehension of any money not being 11.2. The Borrower agrees that if the Borrower commits any breach of any
paid or the Security being jeopardised. provision of this Agreement or any default or delay in the repayment of
c. In addition to the rights and remedies the Bank may have under this the Loan or any amount payable under this Agreement whatsoever which
Agreement, the Bank shall be irrevocably entitled and authorised to the Borrowers is liable to pay, the Bank shall have the unqualified right
require the employer of the Borrower to make deductions from the to disclose or publish the Borrower’s name and particulars (including
salary/wages payable by the employer to the Borrower and remit the photographs and particulars of accounts), as a defaulter in such manner
same to the Bank until the entire outstanding dues of the Borrower as the Bank may deem fit.
under this Agreement are completely discharged. The Borrower 11.3. In the Event of Default, the Bank shall also be entitled to communicate in
undertakes and agrees not to raise any objection to such deductions. any manner it may deem fit, to or with any person or persons including
8.3. Set Off guarantors, person giving reference to loan, with a view to procure
Without prejudice to what is stated herein, the Borrower hereby expressly assistance of such person or persons in recovering the defaulted amounts
agrees and confirms that in the event of the Borrower failing to pay the including but not limited to visiting the property and/or any place of work of
amount outstanding under the Loan or any other loan/ facility, whether as the Borrower.
borrower or guarantor or otherwise, in addition to any general or similar 11.4. The Borrower agrees that the Bank may be required to disclose Borrower
lien to which the Bank or any of its subsidiary/affiliates may be entitled by personal and financial information to the statutory authorities in connection
law, the Bank shall, without prejudice to any of its specific rights under with any legal process that may be initiated by such authorities in
any other agreements with the Borrower, at its sole discretion and without accordance with applicable laws.
notice to the Borrower, be at liberty to apply any other money or amounts 11.5. The Bank discourages the Borrower from sending or posting to the Bank’s
standing to the credit of the Borrower in any account (including fixed deposit web site any information that the Borrower considers to be confidential
account) of the Borrower (whether singly or jointly with another or others) or proprietary. Please note that if the Borrower do send or post any such
with the Bank or any of its subsidiary/affiliates in or towards payment information or material, the Bank will assume that it is not confidential.
of the monies due from the Borrower. The rights of the Bank under this By sending or posting any information or material, the Borrower grant
Agreement are in addition to other rights and remedies (including without the Bank an unrestricted, irrevocable license to use, reproduce, display,
limitation other rights or set off) which the Bank may have under applicable perform, modify, transmit and distribute those materials or information, and
law or otherwise. the Borrower agrees that the Bank is free to use any ideas, concepts,
The Bank may at its absolute discretion appropriate any payments made know-how or techniques that the Borrower sends or post for any purpose
by the Borrower under this loan Agreement towards repayment of any other on this web site.
loan outstanding under any other loan agreement or transaction entered 11.6. The Borrower agrees that the Bank may also share Borrower information
into by the Borrower with the Bank and/or towards any other Indebtedness to provide Borrowers with superior services and a range of offers. The
of the Borrower and such adjustment and/or appropriation shall be final Bank may use this information to advise Borrowers about products,
and binding on the Borrower and the Borrower shall continue to remain services and other marketing materials, which the Bank think may be of
liable to the Bank for payment of dues under this loan Agreement in interest to Borrowers. The Bank further reserves the right to disclose the
respect of which such sums of money were so paid but were appropriated information to any third party if the disclosure of the same is for getting any
towards another outstanding dues under any other loan this Agreement or additional service, products which may be beneficial to the Borrower, as
transaction entered into by the Borrower with the Bank or towards another per the sole assessment and discretion of The Bank.
Indebtedness of the Borrower. In addition, the Borrower hereby authorises
the Bank to appropriate/adjust any balance amounts of the sale proceeds in 11.7. The Bank will limit the collection and use of Borrower information only on a
possession of the Bank post appropriation/adjustment of the sale proceeds need-to-know basis to deliver better service to the Borrowers. The Bank may
consequent of proceeds has the power to upon sell/transfer or otherwise use and share the information provided by the Borrowers with its Affiliates
disposal of any and/or all security created in its favour of the Bank under and third parties for providing services and any service-related activities

_________________ _________________ _________________

(Borrower) (Co-borrower) (Co-borrower)
 08

such as collecting subscription fees for such services, and notifying or 12.5. Entire Agreement & Counterpart
contacting the Borrowers regarding any problem with, or the expiration of, The Parties confirm that this Agreement and its Schedule & the relevant
such services. In this regard, it may be necessary to disclose the Borrower Annexure(s) and any other documentation pursuant to it, represent one
information to one or more agents and contractors of the Bank and their single agreement between the Parties. This Agreement may be executed
sub-contractors, but such agents, contractors, and sub-contractors will be in separate counterparts, each of which, when so executed and delivered,
required to agree to use the information obtained from the Bank only for shall be deemed to be an original, but all such counterparts together shall
the said purposes. The Borrower authorises the Bank to exchange, share, constitute one and the same instrument only.
part with all information related to the details and transaction history of
the Borrower to its Affiliates/ banks/ financial institutions/ credit bureaus/ 12.6. Supremacy & Amendment
agencies/ participation in any telecommunication or electronic clearing This Agreement supersedes all discussions and Agreements (whether
network as may be required by law, customary practice, credit reporting, oral or written, including all correspondence) prior to the date of this
statistical analysis and credit scoring, verification or risk management or Agreement between the Parties with respect to the subject matter of this
any of the aforesaid purposes and shall not hold The Bank liable for use Agreement. This Agreement may be modified or amended only by a writing
or disclosure of this information. The Bank/IDFC FIRST values relationship duly executed by or on behalf of each of the Parties.
with Borrower and will at all times strive to ensure Borrower’s privacy.
12.7. Waiver
11.8. The Borrower understands that:
Any failure and/or delay on the part of the Bank in exercising any right
a. the Credit Information Bureau (India) Ltd. and any other agency or power under this Agreement or documents in connection with this
so authorized may use, process the said information and data Agreement shall not operate as a waiver thereof, nor shall any single or
disclosed by the Bank in the manner as deemed fit by them, and partial exercise of any such right or power preclude any other or future
b. The Credit Information Bureau (India) Ltd. and any other agency exercise thereof or the exercise of any other power or right. The rights and
so authorized may furnish for consideration, the processed remedies of the Bank provided for in this Agreement are cumulative and
information and data or products thereof prepared by them, to not exclusive of any rights or remedies available under the law.
banks/financial institutions and other credit grantors or registered 12.8. Governing Law, Jurisdiction and Arbitration:
users, as may be specified by the Reserve Bank of India in this
The Parties agree that this Agreement shall be governed by the laws of
behalf.
India. The Borrower hereby expressly agrees that all disputes arising out
12. MISCELLANEOUS of and/or relating to this Agreement including any transaction document
12.1. Appointment of third parties by the Bank which is:
The Borrower accepts that the Bank shall without prejudice to its right a) below the pecuniary jurisdiction limit of the Debt Recovery Tribunals
to perform the activities itself or through its officers or employees or established under Recovery of Debts Due to Banks and Financial
other authorised agents, be entitled, and have full power and authority, to Institutions Act, 1993 (51 of 1993), then such dispute shall be referred
appoint one or more third parties and delegate to such third party all or to arbitration in accordance with the provisions of the Arbitration and
any of its functions, rights and powers under this Agreement relating to the Conciliation Act, 1996 as may be amended, or its re-enactment, by a
administration of the Loan including the right to collect and receive on behalf sole arbitrator, appointed by the Bank. The arbitration proceeding shall
of the Bank all the dues under this Agreement and give valid and effectual be conducted in the English language. The award passed by the arbitrator
receipts and discharge to the Borrower and to perform and execute all lawful shall be final and binding on the Parties. The costs of such arbitration shall
acts, deeds, matters and things connected herewith or incidental hereto. be borne by the losing Party or otherwise as determined in the arbitration
For the purpose aforesaid or any other purpose which the Bank at the sole award. The arbitration proceedings shall be held either in Delhi/ Mumbai/
discretion may deem fit, the Bank shall be entitled to disclose to such third Chennai/ Kolkata and/or such other place as may be notified at the sole
parties all necessary and relevant information pertaining to the Borrower. discretion of the Bank.
12.2. Notices & Communications b) above the pecuniary jurisdiction limit of the Debt Recovery Tribunals
established under Recovery of Debts Due to Banks and Financial
All notices, requests, demands, waivers or other communications (including Institutions Act, 1993 (51 of 1993), then such dispute shall be referred at
Customer Copy of Loan Agreement, Key Fact Statement, Welcome Letter the sole discretion of the Bank to:
etc., under or in connection with this Agreement shall be issued in writing
through mail, e-mail, instant messaging app, SMS or fax as mentioned The exclusive jurisdiction of the courts/tribunals of the city in which the
under the Schedule. Any such notice or other communication will be Branch/Bank Outlet of the Bank is situated. Provided that to the extent
deemed to have been duly given if: (a) delivered personally; (b) sent by allowed by law, the Bank shall be entitled to take proceedings relating to a
registered mail with postage prepaid; (c) sent by next-day or overnight mail/ dispute in any court/tribunal of any place with jurisdiction.
courier or delivery; or (d) sent by email/instant messaging app/facsimile/ Or/And
SMS. Borrower confirms that all risks shall be fully borne by him and he
To arbitration in accordance with the provisions of the Arbitration and
assumes full responsibility for the same.
Conciliation Act, 1996 as may be amended, or its reenactment, by a sole
SMS, instant messaging app etc., are for his/their our convenience. IDFC arbitrator, appointed by the Bank. The arbitration proceeding shall be
FIRST Bank shall not be liable or responsible for any breach of secrecy conducted in the English language. The award passed by the arbitrator
owing to communication/documents being sent digitally. Borrower shall shall be final and binding on the Parties. The costs of such arbitration shall
verify the authenticity of the emails, instant messaging app etc., and shall be borne by the losing Party or otherwise as determined in the arbitration
not hold the Bank responsible for any statements received from frauds / award. The arbitration proceedings shall be held at Delhi/ Mumbai/
imposters. Borrower shall not hold the Bank liable if any problem arises with Chennai/ Kolkata and/or such other place as may be notified at the sole
his/their computer/mobile network . Borrower understand and agreethat discretion of the Bank.
the email statements, SMS, documents, communications will only be sent
The Arbitration proceedings may also be held through Video conference.
to the first holder of either registered email id/registered Cell No/ registered
To attend any hearing ordered by the tribunal, the following shall apply:
WhatsApp number. Borrower shall inform the Bank in writing if there is
any change in his/their communication address. The Bank shall not be i. any such hearing shall be held via video conference upon the order of the
responsible incase if the Borrower’s do not receive the statements due to tribunal;
incorrect communication address provided by Borrower or due to technical ii. the parties agree that no objection shall be taken to the decision, order
reasons. Borrower undertakes to take all necessary steps to ensure or award of the tribunal following any such hearing on the basis that the
confidentiality and secrecy of the login name and password of the internet hearing was held by video conference”.
/ email account.
12.9. FORCE MAJEURE
Borrower understands and acknowledges that there are inherent risks
involved in sending and receiving instructions/communications/documents The Borrower shall be liable to perform or fulfil its obligations at all point
via electronic mode viz., emails/ SMS/WhatsApp messaging services etc., of time and shall not delay/postpone performance, its obligations in whole
and hereby agree and confirm that all risks shall be fully borne by him and or in part, even on the ground of any force majeure event such as acts of
he assumes full responsibility for the same. He will not hold the lender God, floods, cyclones, earthquakes, fires, wars, riots, strikes, orders of
liable for any losses or damages including legal fees arising owing to any governmental or other statutory authorities.
miscommunication or technological error beyond the control of the lender. The Borrower(s) hereby expressly acknowledge, declare and confirm that the
Borrower shall be responsible to ensure the authenticity, validity, or source Borrower/s have read, verified and understood all the terms and conditions of
of any instructions/documents and shall be liable if any instructions/ para No. 1 to 12 as contained in page No 1 to 7 of this loan agreement above
documents turned out to be unauthorized, erroneous, or fraudulent nor will written and hereby accept the said terms and conditions and irrevocably
any such communication amount to spam, unsolicited communication or a agree to abide by the same by affixing my/our signatures herein below.
violation of borrower(s) registration on the national do not call registry. The borrower is aware that this document is an electronic record in terms of
12.3. Severability Information Technology Act, 2000 and rules there under as applicable to electronic
records in various statutes as amended by the Information Technology Act, 2000.
Every provision contained in this Agreement shall be severable and distinct
from every other such provision and if at any time any one or more of such The Borrower hereby expressly acknowledges and confirms that the Borrower has
provisions is or becomes invalid, illegal or unenforceable in any respect read, verified, understood, irrevocably agreed to and accepted and delivered all
under any applicable law, the validity, legality and enforceability of the the terms and conditions contained in Clauses 1 to---- (including sub clauses),
remaining provisions hereof shall not be in any way affected or impaired schedule of charges, Standing Instruction (collectively, "Loan Documents") online
thereby. by ticking / clicking / checking /affixing signatures the "I Agree" or "I Agree
and Accept" or any similar icon/tab/option on the online system / Website /
12.4. Indemnity portal / platform of Merchant/ its agent/ service provider/partners as well as by
The Borrower undertakes to indemnify and keep Bank and its officers/ entering the one time password ("OTP") provided to the Borrower's mobile number
employees fully indemnified and harmless from and against all the registered with the Bank. The Borrower also acknowledges that the execution of the
consequences of breach of any of the terms, condition, statements, agreement would be complete only once the same is accepted by the Bank. The
undertakings, representations and warranties of this Agreement as also of Bank shall be deemed to have accepted and signed this document online by way of
any of its representations or warranties not being found to be true at any sending an email/ letter through its officer to the Borrower and attaching therewith
point of time, including any actions, suits, claims, proceedings, damages, the copy of this document. For the purpose of stamp duty, any writing on a stamp
liabilities, losses, expenses or costs faced, suffered or incurred by the paper or franked page associating the stamp paper or such franked page with this
Bank. The Borrower hereby agrees to and understands that this indemnity document will be as good as making the stamp paper/franked page an integral part
would cover all acts and omissions on the part of the warranties and/or of this document.
representations of the Borrower. This indemnity shall survive termination
of this Agreement.

_________________ _________________ _________________

(Borrower) (Co-borrower) (Co-borrower)
 09

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and acknowledged by their respective officers or
representatives on the day, month, year and place as set out in Schedule I hereof

Signed and delivered by the within named Borrower: Date: ______________________________________

1. ___________________________________________ ___________________________________________
Borrower Name Signature of the Borrower

2. ___________________________________________ ___________________________________________
Co-Borrower Name Signature of the Co-Borrower

3. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

4. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

Signed, and Delivered by the within named Bank, IDFC FIRST Bank Limited through its authorized official.

Authorized Signatory : ______________________________________

Employee Code : __________________________________________

Employee Name : _________________________________________

 10

NRI-SIMPLE HOME LOAN (ANNEXURE I)

In case the Borrower is a Non-Resident Indian (“NRI”) or Person of Indian Origin Notwithstanding anything to the contrary contained in this
(“PIO”), the terms and conditions set out in this Annexure I shall be applicable, in Agreement, the Loan together with all interest, costs, charges etc.
addition to the terms and conditions set out in the Loan Agreement and such other shall become immediately due and payable in case -
Annexure(s) as may be applicable. a. The Borrower except the Co-Borrower ceases to be an Indian
citizen and /or acquires citizenship of any other country or a
IT IS AGREED AS FOLLOWS: foreign passport;
b. The Borrower except the Co-Borrower changes his residence
from the country stated in the Schedule to another country or
Incorporation of defined terms: leaving the country of residence as stated in the Schedule,
Unless a contrary indication appears, terms defined in the Home Loan Agreement for employment or business or for long-term stay in any other
shall have the same meaning in this Annexure. country.

“NRI” or non-resident Indian shall mean a person resident outside India who is a IV. The following sub-clauses shall stand added after sub-clause (ii) of
citizen of India. For the purposes of this Annexure, the term ‘NRI’ shall also include clause 7.1 in the Home Loan Agreement:
a person of Indian origin (“PIO”) which shall include a citizen of any country other ii. The Borrower except the Co-Borrower holds a valid Indian
than Bangladesh or Pakistan who had (a) at any time held Indian passport or (b) he passport as per details stated in the Schedule and is not resident
or either of his parents or any of his grandparents was a citizen of India by virtue of of India and is a resident of the country stated in the Schedule
the Constitution of India or the Citizenship Act, 1955 or (c) the person is a spouse of under residence permit of such country which is valid on the date
an Indian citizen or a person referred to in (a) or (b). of this Agreement and possesses a valid employment contract or
business licence of such country and has been in employment/
has been carrying on business or vocation in such country or who
This Annexure and the terms and conditions hereunder shall come into force on the stays abroad for any other purpose in circumstances indicating
signing of the same by the Borrower and the Bank. With effect from the date of this an indefinite period of stay outside India;
Annexure and for the purposes of this Annexure, the Home Loan Agreement shall
stand amended as follows:
jj. The Borrower shall notify the Bank regarding the change in his/
her/their status as a resident/non-resident Indian.
I. The following sub-clause (h) shall stand added after sub-clause (g) of
clause 3.2 in the Home Loan Agreement and subsequent sub-clauses
renumbered accordingly: kk. The Borrower except the Co-Borrower shall promptly inform
h. The Borrower except the Co-Borrower shall have submitted the Bank or upon any change in the country of residence as
to the Bank an evidence that the he holds an Indian passport stated in the Schedule or leaving such country of residence for
and is a resident of the Country stated in the Schedule under employment or business or a long-term stay in any other country;
residence permit of such Country which is valid on the date of ll. The Borrower except the Co-Borrower shall abide by and fulfil
this Agreement and possesses a valid employment contract of the provisions of Foreign Exchange Management Act, 1999,
business license of such Country and has been in employment/ as amended from time to time and all other applicable laws
has been carrying on business or vocation in such Country with respect to purchasing, retaining, using, selling immovable
or who stays abroad for any other purpose in circumstances property in India and repatriating proceeds outside India and shall
indicating an indefinite period of stay outside India; and indemnify and keep indemnified the Bank in that behalf.
mm. None of the Co-Borrowers are persons who are not relatives
II. An additional Clause 5.1A shall be added after Clause 5.1 of the Home (as defined under Foreign Exchange Management (Borrowing
Loan Agreement as follows: and lending in rupees) Regulations, 2000, dated 3-5-2000 [GSR
387(e)]) of the Borrower.
5.1A The Borrower except the Co-Borrower shall ensure that the
repayment of monies under this Agreement is made through the
funds held in any non-resident account maintained in accordance V. The following shall be read together with the Clause 12.2 of the Home
with the provisions of the Foreign Exchange Management Act, Loan Agreement:
1999 and the regulations made by Reserve Bank of India from
time to time. The Borrower hereby authorizes the Co-Borrower to receive any notice/s or
request on his behalf. The Borrower further submits that any notice/s and/
or request served on/to the Co-Borrower shall be deemed to be served on
III. An additional Clause 5.10A shall be added after Clause 5.10 of the the Borrowers and need not be separately served on the Borrower.
Home Loan Agreement as follows:

5.10 A Repayment in case of change in NRI Borrower’s status

Signed and delivered by the within named Borrower: Date: ______________________________________

1. ___________________________________________ ___________________________________________
Borrower Name Signature of the Borrower

2. ___________________________________________ ___________________________________________
Co-Borrower Name Signature of the Co-Borrower

3. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

4. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

Signed, and Delivered by the within named Bank, IDFC FIRST Bank Limited through its authorized official.

Authorized Signatory : ______________________________________

Employee Code : __________________________________________

Employee Name : _________________________________________

 11

SHORT & SWEET HOME LOAN (ANNEXURE II)

In case the Borrower has chosen the Short & Sweet Home Loan, the terms and IV. An additional Clause 5A – Loan Account shall stand added after
conditions set out in this Annexure II shall be applicable, in addition to the terms Clause 4.2 of the Home Loan Agreement as follows:
and conditions set out in the Loan Agreement and other such other Annexure(s) as 5A. Loan Account
may be applicable.
5A.1. The Bank may allow the Borrower to operate the Loan Account also
as a current account during the continuity of the Loan in terms of
IT IS AGREED AS FOLLOWS: this Agreement. Without prejudice to the guidelines prescribed
by the Bank for operation of current account which the Borrower
acknowledges to have read and understood, the Bank may allow
Incorporation of defined terms: the Borrower to deposit into and withdraw monies from the Loan
Account at any point of time and from time to time. Provided that
the amount which may be withdrawn from the Loan Account
Unless a contrary indication appears, terms defined in the Home Loan Agreement at any given point of time shall be subject to the excess monies
shall have the same meaning in this Annexure. deposited by the Borrower into the Loan Account and the interest
saved in terms of Clause 4.1(f)). Notwithstanding anything to the
This Annexure and the terms and conditions hereunder shall come into force on the contrary contained herein, the Borrower recognises and accepts
signing of the same by the Borrower and the Bank. With effect from the date of this that the Bank may, at any time, without any advance notice to
Annexure and for the purposes of this Annexure, the Home Loan Agreement shall the Borrower shall have a right to cancel the withdrawal from the
stand amended as follows: Loan Account the monies saved in terms of Clause 4.1 (f).
5A.2. The Borrower agrees that upon the repayment of Loan together
with interest, fees, costs, charges and expenses and all other
I. Clause 4.1 (a) of the Home Loan Agreement shall stand substituted amounts payable under this Agreement, the Loan Account shall
by the following clause 4.1 (a): be closed by the Bank and the Borrower shall withdraw any
4.1 (a) The Borrower shall pay to the Bank, interest on the amount monies lying in the Loan Account.
of the Loan outstanding from time to time at a rate equal to IV. An additional Clause 5.1A shall stand added after Clause 5.1 of the
the Applicable Rate of Interest and/or Default Rate of interest Home Loan Agreement as follows:
mentioned in the Annexure, which shall be calculated in
accordance Clause 4.1(f) of this Agreement. 5.1A Notwithstanding the above, EMI/P-EMI shall be serviced by
the Borrower on the due dates without having recourse to any
excess funds deposited in the Loan Account in terms of Clause
II. Clause 4.1 (b) of the Home Loan Agreement shall stand substituted 4.1(f) and Clause 5A.1. Notwithstanding anything to the contrary
by the following clause 4.1 (b): contained herein, in case of any default in repayment of the Loan
4.1 (b) The Borrower is aware and confirms with the Bank that in case of by the Borrower, the Bank, without prejudice to its rights under
Floating Rate of Interest, the Applicable Rate of Interest and/or this Agreement, shall have a right to set off the monies/amounts
Default Rate of Interest shall change as and when there is any standing to the credit of the Loan Account against the dues of
change/reset in the EBR. The Borrower shall be deemed to have the Borrower without declaring the same as an event of default.
notice of such change whenever the same is announced/notified/ V. An additional Clause 5.11A shall stand added after Clause 5.11 of the
displayed by the Bank on its website/Branch or otherwise. The Home Loan Agreement as follows:
change in the Applicable Rate of Interest and/or Default Rate of 5.11A Mandatory Pre-payment
Interest on account of the aforesaid shall become effective on
the first date of next English calendar month falling the date after In case the monies deposited into the Loan Account are in excess
such reset. of the Loan including the principal, interest thereon and any other
charges, premium, fees, taxes levies or other dues payable by the
Borrower to the Bank in terms of this Agreement, the Borrower
III. Clause 4.1 (f)(iii) and Clause 4.1 (f)(iv) of the Home Loan Agreement shall withdraw such excess money within the time period as Bank
shall stand substituted by the following respectively: may stipulate for such withdrawal. In case the Borrower fails to
v. Calculated on the actual amount outstanding on each day of the withdraw the said excess funds within the period stipulated by
preceding calendar month/quarter/half year/year as stated in the the Bank, the Bank shall be at liberty to set off the dues of the
Schedule after netting of the funds, if any, deposited in the Loan Borrower from the monies deposited into the Account and close
Account, maintained and operated in terms of Clause 5A.1 Of the Loan Account.
this Agreement, before the due date (i.e. the funds deposited and VI. Following section v shall stand added after Clause 8.2 (a)(iv) of the
lying in the Loan Account before the due date shall be deducted Home Loan Agreement:
from principal amount of the Loan and interest shall be calculated V. Set off the monies/amounts standing to the credit of the Loan
only on the net debit/ledger balance on a daily basis); Account against the dues of the Borrower under this Agreement.
vi. Interest from the date of disbursement till the commencement of
the EMI shall be payable every month as per the P-EMI mentioned
in the Schedule, if applicable, to be calculated in accordance with
A to C above.

Signed and delivered by the within named Borrower: Date: ______________________________________

1. ___________________________________________ ___________________________________________
Borrower Name Signature of the Borrower

2. ___________________________________________ ___________________________________________
Co-Borrower Name Signature of the Co-Borrower

3. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

4. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

Signed, and Delivered by the within named Bank, IDFC FIRST Bank Limited through its authorized official.

Authorized Signatory : ______________________________________

Employee Code : __________________________________________

Employee Name : _________________________________________

 12

BOOSTER HOME LOAN (ANNEXURE III)

In case the Borrower has chosen the Booster Home Loan, the terms and conditions
set out in this Annexure III shall be applicable, in addition to the terms and conditions
set out in the Loan Agreement and such other Annexure(s) as may be applicable.

IT IS AGREED AS FOLLOWS:

Incorporation of defined terms:

Unless a contrary indication appears, terms defined in the Home Loan Agreement
shall have the same meaning in this Annexure.

“Principal Moratorium Period” means such period as specified in the Schedule,

which offers the Borrower a principal moratorium for such period from the date of
first drawdown / disbursement of the Loan.

This Annexure and the terms and conditions hereunder shall come into force on the
signing of the same by the Borrower and the Bank. With effect from the date of this
Annexure and for the purposes of this Annexure, the Home Loan Agreement shall
stand amended as follows:

I. Following shall stand added after Clause 5.1.(e) of the Home Loan
Agreement:

5.1 (e) After the expiry of Principal Moratorium Period, by way of EMI as
mentioned in the Schedule, in accordance with the terms hereof.

Signed and delivered by the within named Borrower: Date: ______________________________________

1. ___________________________________________ ___________________________________________
Borrower Name Signature of the Borrower

2. ___________________________________________ ___________________________________________
Co-Borrower Name Signature of the Co-Borrower

3. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

4. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

Signed, and Delivered by the within named Bank, IDFC FIRST Bank Limited through its authorized official.

Authorized Signatory : ______________________________________

Employee Code : __________________________________________

Employee Name : _________________________________________

 13

(Schedule/key fact statement)

Sr. Particulars
No.
I Date and Place of Execution of
Agreement
II Address of the Branch

III Name and Address of Borrower Constitution:

_________________
Individual Sole Proprietorship Company

(Borrower)
Partnership HUF LLP Trust Society
Others____________
Name: ______________________________________________
Address: ____________________________________________
___________________________________________________
___________________________________________________
Email: ______________________________________________

Contact: ____________________________________________
IV Name and Address of the Constitution:
Co-Borrower Individual Sole Proprietorship Company
Partnership HUF LLP Trust Society
Others____________
Name: ______________________________________________
Address: ____________________________________________
___________________________________________________

_________________
___________________________________________________

(Co-borrower)
Email: ______________________________________________

Contact: ____________________________________________

Constitution:
Individual Sole Proprietorship Company
Partnership HUF LLP Trust Society
Others____________
Name: ______________________________________________
Address: ____________________________________________
___________________________________________________
___________________________________________________
Email: ______________________________________________

Contact: ____________________________________________
_________________

Constitution:
(Co-borrower)

Individual Sole Proprietorship Company

Partnership HUF LLP Trust Society
Others____________
Name: ______________________________________________
Address: ____________________________________________
___________________________________________________
___________________________________________________
Email: ______________________________________________

Contact: ____________________________________________

_________________ _________________ _________________

(Borrower) (Co-borrower) (Co-borrower)
 14

V Guarantors 1. Constitution:
c Individual c Company c Partnership c HUF c LLP
c Others
Name: _____________________________________________
Address: ____________________________________________
____________________________________________________
____________________________________________________
Email: ______________________________________________

Contact: _____________________________________________
VI Loan Amount Rs. _____________________________ /- (Rupees __________

_________________
_______________________________________________ Only)

(Borrower)
VII Purpose of Loan Builder Purchase Resale Plot Purchase Plot Purchase
+ Self Construction Self - Construction Business Expansion
Working Capital Requirement Renovation/House
Improvement Purchase of Office/Shop/Factory Premises
Takeover of running loans Others Balance Transfer + Top
up Top up Purchase Construction Repairs
Renovation Extension

Takeover (Takeover from ____________________________)

____________________________________________________
____________________________________________________
VIII Tenure (Including principal moratorium for __________ months
booster home loans)
IX Pre EMI

_________________
(Co-borrower)
X Due Date of First EMI
Principal Moratorium Period (Applicable
XI for booster home loans) / P-EMI period
(Applicable for under construction
property)
XII External Benchmark Rate (EBR) Period _____________ , Rate _______%
XIII Applicable Rate of Interest *Fixed Interest Rate c
a) Fixed Rate of Interest shall be _______ % p.a.
Interest shall be calculated at (monthly/quarterly/half-yearly/
yearly) rest
b) Applicable tenure for Fixed Rate of Interest:______ months
*Floating Interest Rate c
a) EBR + ________% (Margin) = presently _______%
b) Interest rate reset period will be linked to EBR. Details of
EBR as mentioned in point XII.
_________________
(Co-borrower)

XIV SPLIT RATE OF INTEREST Fixed Interest Rate shall be ________p.a. for _______ months
Floating Rate of Interest (p.a.) after completion of fixed tenure/
period
(This would be subject to variation in case of rates on interest
changing during the repayment terms of the loan)
First Date of Review :
Review Frequency (after completion of fixed tenure/period) : as
decided by the Bank/the lender from time to time
XV Step Down EMI EMI decreases after _________ instalments
XVI Step Up EMI EMI increases after _________ instalments

XVII Date of reset of interest The reset date will be 1st day of next month for Short & Sweet
accounts and EMI cycle date for other loans

_________________ _________________ _________________

(Borrower) (Co-borrower) (Co-borrower)
 15

XVIII Additional Interest (plus interest taxes/ 2% per month. Default Interest is levied in case of non-payment of
statutory levies as applicable) the monthly payment. It is charged on the overdue instalment for
the defaulted period.
XIX Mode of communication of changes in Email/Letter
interest rates
XXI Repayment Equated Monthly Instalment
(Applicable for Booster Home Loan and a) EMI Amount: ________________
Under Construction b) No. of EMIs: ________________
Property) c) Payable on ________________
Pre-Equated Monthly Installment
a) P-EMI Amount: _______________

_________________
b) No. of P-EMIs: _____________
c) Payable on ________________

(Borrower)
XXIV Property (Details of security/ collateral Borrower is required to provide in such form and manner as may
obtained) be stipulated by the Bank.

XXV Date on which annual outstanding

balance statement will be issued (Not
applicable for short and sweet home
loans)

Any service , which is not mentioned above will be charged separately as applicable

Notwithstanding anything contained herein above the Bank may in its sole discretion revise the amount of EMI or the period and the
periodicity of payment of EMI.

_________________
(Co-borrower)
_________________
(Co-borrower)

_________________ _________________ _________________

(Borrower) (Co-borrower) (Co-borrower)
 16

Products/Type of charges HOME LOAN

EMI Bounce charges per presentation 400
Late payment/Penal charges/ Default interest/ 2% per month of the unpaid EMI or Rs 300
Overdue (per month) whichever is higher
Cheque Swap charges (per swap) 500
1% of the loan amount + interest from date
of disbursal till receipt of cancellation request
Cancellation request to be received within
Cancellation & Rebooking charges
30 days or 1st EMI presentation date, post
which cancellation will be treated as
foreclosure
- Nil for floating rate individual and non-individual Loans
- For fixed rate individual and non-individual loans (MOB
Foreclosure / Prepayment charges*
<= 12 months - 4% of principal outstanding & MOB >= 12
months - 3% of principal outstanding exclusive of taxes)
Loan re scheduling charges (per re scheduling) 300
Duplicate No Objection Certificate Issuance Charges 500
Physical Repayment Schedule 500
Physical Statement of Account 500
Document retrieval charges (per retrieval) 500
Stamping Charges As per actuals
Processing fees Up to 1% of Loan Amount
List of Documents 500
- Nil for floating rate individual and non-individual loans.
- For fixed rate individual and non-individual loans 5% oprin-
Part Payment charges cipal outstanding if part payment exceeds 25% in a financial
year exclusive of taxes.

EMI Pickup/ Collection Charges 350

*Charges above are exclusive of GST

IDFC FIRST BANK - SCHEDULE OF SERVICE CHARGES (SHORT & SWEET HOME LOANS)

Cash and DD charges Charges in INR (excluding service tax)

Cash Deposit Free Limit 1 lac
Cash deposit -Charge above free limit Rs 3 per 1000
DD payable at Correspondent Bank locations Rs 30 per DD
Cheque Return Cheque deposited – Rs. 50 per cheque
Cheque issued – Rs. 250 per cheque
Debit Card & ATM charges
Annual charges Free
ATM transactions IDFC FIRST Bank Ltd. ATMS Free
ATM transactions Non IDFC FIRST ATMS 5 Txn per month Free Above 5 txn,
(Cash Withdrawal, Balance Enquiry) Balance Enquiry Rs 8 per Txn, Withdrawal Rs 20 Per Txn
Reissuance ( lost or damaged) Free
Cross Country Mark Up for

_________________ _________________ _________________

(Borrower) (Co-borrower) (Co-borrower)
 17

International transact ions ( POS/ ATM) 2%

Pin Regenerat ion Free
Payment Services
Intra-Bank Fund Transfer - Branch Free
Int ra-Bank Fund Transfer - Net -banking Free
RTGS Payment - Branch Free
RTGS Payment - Net -banking Free
NEFT Payment - Branch Free
NEFT Payment - Net -banking Free
NACH Payment Free
IMPS Free
Payable At Par Cheque Issuance Free
DD payable at IDFC FIRST BANK locations Free
DD - Duplicate Issuance Free
DD Cancellation/ revalidation Free
Miscellaneous Services
Account Statement Physical ( Branch/ Channel) Free
Payable at Par Cheque Book Free
Account Closure Free
SMS/ E mail Alerts Free
Phone Banking Free
Net Banking Free
Mobile Banking Free
Standing Instruct ion- Set Up/ Execution/ Amendment Free
Bill Payment - Net Banking Free
Bankers Verification ( Photo/ Signature/ Address) Free
Balance Confirmation Certificate Free
Record Retrieval Free
Interest / TDS Certificate Free
Stop Payment per Instruction Free
Balance Enquiry ( Branch/ Channels) Free

Signed and delivered by the within named Borrower: Date: ______________________________________

1. ___________________________________________ ___________________________________________
Borrower Name Signature of the Borrower

2. ___________________________________________ ___________________________________________
Co-Borrower Name Signature of the Co-Borrower

3. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

4. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

Signed, and Delivered by the within named Bank, IDFC FIRST Bank Limited through its authorized official.

Authorized Signatory : ______________________________________

Employee Code : __________________________________________

Employee Name : _________________________________________

 19

Customer Copy
Home Loan Agreement
This Agreement made and executed and/or deemed to be executed at the place and applicable on the Loan for specific tenure mentioned in the
on the date set out in the Schedule hereto between “Borrower and Co-Borrower Schedule.
whose details are given in Schedule hereunder, of the First Part; o. “Floating Rate of Interest” means the percentage rate per
AND annum decided by the Bank from time to time and announced/
IDFC FIRST Bank Limited (formerly known as IDFC Bank Limited), a company notified by the Bank/ the Lender/ Assignee from time to time
registered within the meaning of the Companies Act, 2013 and a banking company and same shall be linked to IDFC EBR by a margin/spread as
within the meaning of Banking Regulation Act, 1949 having its Registered Office at specified from time to time and any change in IDFC EBR, prior
KRM Tower, 7th Floor, No. 1, Harrington Road, Chetpet, Chennai - 600 031, Tamil to or subsequent to disbursement of Loan shall lead to change
Nadu, India and among others, a branch office at the place specified in Schedule therein and shall be communicated to the Borrower in writing
hereto (hereinafter called “The Bank” which expression shall, unless it be repugnant or notified on the website of the Bank/ the Lender/Assignee
to the subject or context thereof, include its successors and assigns) of the Second accordingly.
Part. p. “Growing EMI” means where EMI increases after a specified
period of time as mutually agreed between the Borrower(s)
and the Bank; “Improvement” includes construction, extension,
The Borrower/Co-Borrower and the Bank are hereinafter collectively referred to as modification, repair, renovation, maintenance or any act done to
‘Parties’ and individually as the ‘Party’.
(i) upkeep, (ii) maintain and (iii) enhance the utility of, the Property
or any part thereof;
WHEREAS, the Borrower has/have approached the Bank for grant/sanction of q. “Improvement” includes construction, extension, modification,
loan for the amount and the purpose (“Purpose”) as stated in the Schedule hereto repair, renovation, maintenance or any act done to (i) upkeep, (ii)
which the Bank, has vide Sanction Letter agreed to grant/extend to the Borrower. maintain and (iii) enhance the utility of, the Property or any part
The Parties hereto are desirous of recording the terms and conditions in relation thereof;
to the Loan to be made by the Bank to the Borrower on the terms and conditions
hereinafter contained. r. “Indebtedness” means any indebtedness in respect of monies
borrowed or liabilities contracted (including under guarantees,
indemnities, hire purchase and leasing) of the Borrower towards
NOW, THESE PRESENTS WITNESSETH AND IT IS HEREBY AGREED BY AND the Bank and shall be deemed to include any indebtedness
BETWEEN THE PARTIES HERETO AS FOLLOWS- of any affiliate of the Borrower or a person or entity related to
the Borrower, towards the Bank and any indebtedness of the
Borrower and/or of any affiliate of the Borrower or a person and
1. DEFINITIONS AND INTERPRETATION entity related to the Borrower towards any subsidiary/ affiliate
1.1. In this Agreement, unless the context otherwise requires, the following company of the Bank
terms wherever used including the recitals, shall have the following s “Loan” means the financial assistance sanctioned under this

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meanings: Agreement for the amount and Purpose as mentioned in the
Schedule.

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a. “Agreement” means this agreement read together with
Annexure(s) and Schedule to this agreement. t. “Loan Account” means account opened by the Bank in the

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b. “Applicable Rate of Interest” means the Fixed Rate of Interest name of the Borrower pursuant to the sanction of the Loan and to
or the Floating Rate of Interest applicable to the Loan as be operated in accordance with the terms hereof.

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mentioned in Annexure 1. u. “Material Adverse Effect” shall mean the consequence of any
c. “Application” means duly filled in application form including all event or circumstance which in the sole opinion of the Bank is or is

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particulars and documents submitted by the Borrower to the Bank likely to be: (i) adverse to the ability of the Borrower or its Affiliates
for the purpose of availing the Loan. to perform or comply with its obligations under this Agreement

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and/or the other Transaction Documents; or (ii) prejudicial to the
d. “Annexure” means the annexure(s) to this Agreement as businesses, operations or financial condition, properties, assets
amended/modified from time to time, which shall form an integral

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or prospects of the Borrower or its Affiliates.
part thereof.
v. "NACH" means National Automated Clearing House
e. “Availability Period” shall mean the period, as specified in the

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Schedule during which the Loan shall remain available for drawal. w. “Pre-Equated Monthly Repayment Interest (P-EMI)” means

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interest, at the rate indicated in the Schedule, on the Loan
f. “Borrower” means one or more individual(s), sole proprietorship from the date/dates of disbursement of the Loan to the date

US
firm, a partnership firm, HUF, a limited liability partnership, a immediately prior to the date of commencement of EMI.
limited company, Hindu Undivided Family, Trust or Societies
whose name(s) and address(es) is/are stated in Schedule x. “Property” shall mean the property more specifically described
to this Agreement and Co-Borrower, unless repugnant to the in the Schedule with all the common areas/easements privileges/
development rights/benefits/fixtures and fittings/buildings and

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subject or context thereof shall be deemed to include legal heirs,
representatives, administrators, members, trustees, successors structures, present and future, all tangible and/or intangible
and permitted assigns of the Borrower. properties, all accretions, additions, accessories, fixtures and
fittings, buildings, structures constructed or erected thereon,
g. “Branch” means the branch of the Bank at the place mentioned whether owned, acquired/occupied or to be owned/acquired/
in the Schedule where the Loan is sanctioned/disbursed and occupied by the Borrower (whether financed by the Bank in whole
shall include any other branch where the Loan Account may be or in part, or not and/or such property(ies) as may be substituted
maintained or transferred from time to time at the sole discretion instead of or added to such property(ies) or both, with the Bank’s
of the Bank. consent.
h. “Business Day” shall mean a day on which the Branch is open y. “Sanction Letter” means the letter, if any, issued by the Bank
for general business as well as for the purposes of payment, and accepted by the Borrower, in connection with the Loan and
settlement and clearing. In case, any date for payment of any would include any variations and amendments thereto, from
dues under this Agreement falls on a day that is not a Business time to time. Sanction Letter shall form an integral part of this
Day, such payments shall be made on the next Business Day. Agreement and shall always be read in conjunction with the same.
i. “Co-Borrower” means one or more individual(s), sole In the event of any conflict in the terms of the aforesaid sanction
proprietorship firm, a partnership firm, HUF, a limited liability letter and this Loan Agreement, the terms of the Sanction Letter
partnership, a limited company, Hindu Undivided Family, Trust will prevail, also the Bank shall be entitled to alter/vary/modify the
or Societies whose name(s) and address(es) is/are stated in terms and conditions of this Agreement or the Sanction Letter at
Schedule to this Agreement and Co-Borrower, unless repugnant any time by notice in writing to the Borrower or notifying the same
to the subject or context thereof shall be deemed to include on its website, either on its own accord or as may be required by
legal heirs, representatives, administrators, members, trustees, any Statutory Authority.
successors and permitted assigns of the Co-Borrower z. “Schedule” means the schedule(s) to this Agreement as
j. “Conversion Charges” means the fee, if any, paid/to be paid amended/modified from time to time, which shall form an integral
by the Borrower to the Bank for the purpose of conversion of part thereof.
Applicable Interest Rate from Fixed Rate of Interest to Floating aa. “Security” means security created or agreed to be created by
Rate of Interest or vice versa. the Borrower in favour of the Bank to secure the Loan and/ or the
k. “Additional Interest Rate” means the rate at which the Bank performance of the engagement under this Agreement.
shall compute and apply interest on all amounts not paid when bb. “Split Rates of Interest” means the combination of Fixed and
due for payment (or reimbursement) by the Borrower(s) to the Floating rates of interest opted by the Borrower(s) and applicable
Bank, over and above applicable interest rate for the period of on the Loan Amount, as specified in the Schedule or as may be
default, as specified in the Schedule of Charges and Interest or amended from time to time by the Bank;
as may be amended from time to time by the Bank and shall
be payable upon the footing of compound interest with monthly cc. “Step down EMI” means where EMI decreases after a specified
rests; period of time as mutually agreed between the Borrower(s) and
the Bank, as specified in Schedule hereto;
l. “Equated Monthly Instalment (EMI)” means the amount of pro-
rated monthly payment consisting of principal amount of the Loan dd. “Step up EMI” means where EMI increases after a specified
and/or interest payable thereon. period of time as mutually agreed between the Borrower(s) and
the Bank, as specified in Schedule hereto;
m. "ECS" means Electronic Clearing Services
n. “Fixed Rate of Interest” means the specific rate of interest
 20

ee. Dues shall mean the principal/interest/any charges levied on the loan loan account will be used to pay off the dues outstanding on 01.02.2021.
account which are payable within the period stipulated as per the terms of Assuming that nothing is paid/or there is partial payment (Rs Y) of dues
sanction of the credit facility. during the month of February, the overdue as on 01.03.2021 will be Rs. X-Y.

Y
ff. Overdue shall mean the principal/interest/any charges levied on the loan Additionally, an amount of Rs Z becomes due as on 01.03.2021. Now any

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account which are payable, but have not been paid within the period payment partial payment into the account on or after 01.03.2021 will be first
stipulated as per the terms of sanction of the credit facility. In other words, utilized to payoff the partial due of 01.02,2021 (RsX-RsY). If there is more

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any amount due to the bank under any credit facility is ‘overdue’ if it is not recovery that the Rs. X- Rs.Y then after recovering dues of 01.02.201, the
paid on the due date fixed by the bank. remaining amount will be treated as recovery towards due of 01.03.2021.

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gg. Non-Performing Asset(NPA) - is a loan or an advance where ii. Age of Oldest Dues – The age of oldest dues is reckoned in days from
i interest and /or installment of principal remains overdue for a period of the date on which the oldest payment is due and continues to remain

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more than 90 days in respect of a term loan. unpaid. In the aforesaid illustration, if the Dues relating to 1st February
2021 remain unpaid till 01.03.2021, the age of the oldest dues is reckoned

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ii. the account remains ‘out of order’ as indicated below in respect of an as 29 days on 02.03.2021.
Overdraft/Cash credit (OD/CC)
jj. Amortization Schedule/Repayment Schedule - The Amortization

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iii. the bill remains overdue for a period of more than 90 days in the case of Schedule shall be provided separately after the disbursement of loan
bills purchased and discounted and shall consist details pertianing to exact due dates for repayment of

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hh. “First In First Out”(FIFO) - The relevance of ‘First in First Out’(FIFO) is loan, breakup between principal and interest, in case of loan facilities
with moratorium on payment of principal and or interest, the exact date

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in appropriation of payments into the borrower account; The Principle of
FIFO i.e., ‘First In First Out accounting method is relevant to arrive at the of commencement of repayment etc., shall also be specified in the said

S
No of days of overdue for determining the SMA/NPA status. The FIFO amortization schedule.
principle assumes that, the oldest outstanding dues in the loan account kk. Classification as Special Mention Account (SMA) and Non-

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needs to be cleared first. The FIFO method thus requires that what is due Performing Asset (NPA) - Lending institutions will recognize the incipient
first must be paid by the borrower first. stress in loan accounts, immediately on Default, by classifying them as

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For example:- If in any loan account as on 01.02.2021 there are no over dues Special Mention Accounts (SMA) The basis of classification of SMA /NPA
and an amount of Rs. X is due for payment towards principal installment/ Category shall be as follows:
interest/charges any payment being credited on or after 01.02.2021 in the

Loans other than revolving facilities Loans in the nature of revolving facilities like cash credit/overdraft

SMA Sub-categories Basis for classification – Principal SMA Sub-categories Basis for classification – Outstand-
or interest payment or any other ing balance remains continuously
amount wholly or partly overdue in excess of the sanctioned limit or
drawing power, whichever is lower,
for a period of:
SMA-0 upto 30 days

SMA-1 More than 30 days and upto 60 SMA-1 More than 30 days and upto 60
days days

SMA-2 More than 60 days and upto 90 SMA-2 More than 60 days and upto 90
days days

ll. Out of Order– An account shall be treated as “out of order’ if 90 days or the outstanding balance in the CC/OD account is less that the
i. the outstanding balance in the CC/OD account remains continuously in sanctioned limit/drawing power but credits are not enough to cover the
excess of the sanctioned limit /drawing power for 90 days or interest debited during the precious 90 power but credits are not enough
to cover the interest debited during the previous 90 days’ period.
ii. the outstanding balance in the CC/OD account is less than the
sanctioned limit/drawing power but there are no credits continuously for

Illustrative movement of an account to SMA category to NPA category based on delay I non-payment of dues and subsequent up-gradation to
Standard category at day end process:

Due date of Payment Date Payment covers Age of SMA / NPA SMA since NPA
payment oldest Categorisation Date /SMA Date
Categorisation
dues in class date
days

01.01.2022 01.01.2022 Entire dues upto NIL

01.01.2022

01.02.2022 01 .02.2022 Partly paid dues of 1 SMA-O 01.02.2022

01.02.2022

01.02.2022 02.02.2022 Partly paid dues of 2 SMA-O 01.02.2022 NA

01.02.2022

01.03.2022 Dues of 01.02.2022 29 SMA-O 01.02.2022

not fully paid
01.03.2022 is also due
at EOD
01.03.2022

Dues of 01.02.2022 1 SMA-O 01.03.2022

fully paid, Due for
01.03.2022 not paid
at EOD 01.03.2022

No payment of full 31 SMA- 1 01.02.2022

dues of 01.02.2022
and 03.03.2022
01.03.2022 at EOD
03.03.2022

Dues of 01.02.2022 1 SMA-O 01.03.2022

fully paid , Due for
01.03.2022 not
fully paid at EOD
1.03.2022
 21

01.04.2022 No payment of dues of 60 SMA 1 01.02.2022

01.02.2022
01.03.2022 03.03.2022
and amount
due on
01.04.2022 at EOD
01 .04.2022

No payment of dues of 61 SMA 2 01.02.2022

01.02.2022 till /02.04.2022
01.04.22 at EOD
02.04.2022

01.05.2022 No payment of dues of 90 SMA 2 01.02.2022

01.02.2022 till /02.04.202
01.05.22 at EOD 2
01 .05.2022

No payment of dues of 91 NPA NPA 02.05.2 022

01.02.2022 till
01.05.2022 at EOD
02.05.2022

01.06.2022 01.06.2022 Fully Paid dues of 93 NPA NA 02.05.2 022

01.02.2022 at EOD
01.06.2022

01.07.2022 01.07.2022 Paid entire dues of 62 NPA NA NPA 02.05.2 022

01.03.2022 &
01.04.2022 at EOD
01.07.2022

01 .08.2022 01.08.2022 Paid entire dues of 32 NPA 02.05.2 022

01.05.2022 &
01.06.2022 at EOD
01.08.2022

01 .09.2022 01.09.2022 Paid entire dues of 1 02.05.2 022

01.07.2022 &
01.08.2022 at EOD
01.09.2022

01.10.2022 01.10.2022 Paid entire dues of 0 Standard Account STD from

01.09.2022 & with No Overdues 01.10.2022
01.10.2022

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Note- Examples are illustrative and not exhaustive in nature covering b. In the name of the materials supplier, civil contractor or any other

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common scenarios and that the IRACP norms and clarifications person as notified by the Borrower towards the materials, labour
provided by RBI on the subject will prevail. or professional costs, towards the construction or improvement or

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repair or extension of the Property; or
c. In the name of the previous financier towards the repayment of the

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1.2. Unless a contrary indication appears, any reference in this Agreement
to: previous loan to be taken over by utilising the Loan; or
a. All capitalised terms used but not specifically defined herein shall have d. In the name of the Borrower/Co-Borrower, at the discretion of the

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the respective meanings ascribed to them under the Schedule/relevant Bank.

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Annexure(s); The disbursement made in terms of (a) to (c) above shall be deemed to
b. Any expression not defined herein but defined in the General Clauses be a disbursement to the Borrower. The Borrower shall be required to
make disbursement request to the Bank as per the tentative disbursement

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Act, 1897, the meaning or interpretation assigned to such expression
therein shall also carry the same meaning herein; schedule mentioned in the Schedule. However, in case of any dispute, the
decision of the Bank shall be final.

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c. A person includes any person, firm, company, corporation, government,
state or agency of a state or any association, trust or partnership (whether 3.2. The Bank may not disburse or further disburse, at any time, any amount

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or not having separate legal personality); under the Loan unless the following conditions are complied with in the
sole discretion of the Bank:

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d. The singular includes the plural (and vice versa);
a. The Borrower shall have duly executed and delivered this Agreement

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e. Reference to the masculine gender includes references to the feminine to the Bank;
gender and the neuter gender and vice versa.
b. The Borrower shall have satisfied the Bank of the Borrower’s clear

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f. Unless the context require or otherwise specifically mentioned, and marketable title to the Property;
reference to the Borrower shall include Co-Borrower as well;
c. If required by the Bank, the Borrower shall have submitted to the
g. In the event of any disagreement or dispute between the Bank and Bank the certificate issued by the architect approved by the Bank
the Borrower regarding the materiality or reasonableness of any with respect to the progress of construction of the Property.
matter including of any event, occurrence, circumstance, change, fact,
information, document, authorisation, proceeding, act, omission, claims, d. The Borrower shall have submitted to the Bank a certificate of
breach, default or otherwise, the opinion of the Bank as to the materiality employment from his employer and his financial statements;
or reasonableness of any of the foregoing shall be final and binding on the e. The Borrower shall have submitted to the Bank post-dated cheques,
Borrower. standing instructions, electronic clearing system towards repayment
h. The Sanction letter shall be read in conjunction with the provisions of of EMIs / P-EMIs amount; f. No event of default shall have occurred;
this Loan Agreement and in the event of any conflict in the terms of the g. The Borrower shall have assigned in favour of the Bank, the
aforesaid sanction letter and this Loan Agreement, the terms of Loan insurance policy(ies) as may be required by the Bank;
Agreement will prevail over the said Sanction Letter. Also the Bank/IDFC h. Any other document or writing as the Bank may require in its sole
FIRST shall be entitled to alter/vary/ modify the terms and conditions of discretion.
this Agreement or the Sanction Letter at any time by notice in writing to the
Borrower or notifying the same on its website, either on its own accord or 3.3. Notwithstanding, anything to the contrary contained herein, the Borrower
as may be required by any Statutory Authority. does hereby confirm that the disbursement shall be deemed to have
been made on the date on which the Bank debits the Loan Account
2. LOAN AMOUNT simultaneously with the disbursement of the Loan in terms of Clause
The Borrower agrees to borrow from the Bank and the Bank agrees to 3.1 without the Bank concerning itself with the receipt/realisation of such
grant to the Borrower, the Loan upon the terms and conditions mentioned disbursement by the beneficiary/recipient.
in this Agreement. 3.4. The Borrower agrees and undertakes that in case the Loan is not withdrawn
3. DISBURSEMENT during Availability Period, the Bank shall be entitled to withhold and/or
3.1. The Bank shall, subject to the provisions of this Agreement and unless cancel fully and absolutely any further disbursement under the Loan. In
agreed between the Borrower and the Bank otherwise, disburse the Loan such an event, the Bank shall be entitled to recall any disbursed amount
in one or more tranches by issuing a Banker’s Payment Order or a Demand of the Loan together with interest, fees, costs, charges and expenses and
Draft crossed as “A/c Payee only” or National Electronic Fund Transfer or all other amounts payable under this Agreement.
Real Time Gross Settlement Systems: 3.5. If the entire amount of the Loan is not fully drawn by the Borrower within a
a. In the name of the seller or vendor towards payment of the purchase period of one month from the Effective Date or from the date as mentioned
price of the Property from whom the Property is being purchased in the Sanction Letter of the Loan or such other period as may be specified
utilising the Loan; or by the Bank in writing, EMIs shall be altered and re-scheduled in such
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manner and to such extent as the Bank may, in its sole discretion, decide c. Processing Fees: The Borrower acknowledges that processing fee
and the repayment shall thereupon be made as per the said alteration and has been paid by the Borrower upfront as an Application Fee or such
re-scheduling notwithstanding anything stated in this Agreement. fees as stipulated in the Sanction Letter/ Schedule which shall be,
3.6. Notwithstanding, anything to the contrary contained herein, the Bank deducted from the Loan amount at the disbursement of the Loan.
shall not in any event or circumstance be liable or be construed as being The Borrower acknowledges that the processing fees are non-
liable to disburse any amount beyond the Loan amount for any reason refundable in case the Borrower does not avail the sanctioned Loan.
whatsoever. d. Application Fees: The Borrower acknowledges that Application Fees
4. INTEREST, FEES/CHARGES/COSTS ETC. has been paid by the Borrower upfront together with the Application
Form or Processing Fees and such other Fees as stipulated
4.1. Interest in the Sanction Letter/Schedule. The Borrower acknowledges that
a. The Borrower shall pay to the Bank, interest on the principal amount Application Fees, Processing Fees and such other fees is non-
of the Loan outstanding from time to time at a rate equal to the refundable.
Applicable Rate of Interest as mentioned in the Schedule. 5. REPAYMENT
b. The Borrower is aware and confirms with the Bank that in case of 5.1. The Loan (including the principal, interest thereon and any other charges,
Floating Rate of Interest, the Applicable Rate of Interest shall change premium, fees, taxes levies or other dues payable by the Borrower to the
as and when there is any change/reset in the EBR. The Borrower Bank in terms of this Agreement) shall be repayable by the Borrower to the
shall be deemed to have notice of such change whenever the same Bank-
is announced/notified/displayed by the Bank on its website/Branch or
otherwise. The change in the Applicable Rate of Interest on account a. At the Branch (or at any other branch of the Bank or at any other
of the aforesaid shall become effective from the EMI payment date place as may be notified by the Bank) by way of post- dated cheque
falling next after such reset. and/or standing instruction and/or electronic clearing system or in any
other manner as the Bank may specify from time to time in writing.
c. The Borrower is aware and agrees that in case of Floating rate of
Interest or Spilt Rate of Interest, upon any change in interest rate or b. By way of EMI as mentioned in the Schedule towards repayment of
if the Borrower makes prepayment then either EMI or loan tenure will principal and interest; and
change c. During the Principal Moratorium Period, by way of amount calculated
d. The Borrower agrees that in case the Applicable Rate of Interest as per P-EMI and as mentioned in the Schedule, in case where
is Fixed Rate of Interest, post completion of the fixed rate tenure the Loan is proposed to be paid before the commencement of EMI or
mentioned in the Annexure, the Borrower will have an option to towards repayment of interest before the commencement of the EMI.
continue at the then applicable fixed/floating rate by communicating d. The Borrower will amortise the Loan as stipulated in the Schedule
the same, in writing, to the Bank. If no such communication intimation attached hereto, subject to any other changes in such amortisation as
is received from the Borrower, the Bank shall be at liberty to charge communicated later in writing by the Bank to the Borrower. However,
interest at the then Floating Rate of Interest. Notwithstanding the in the event of delay or advancement, for any reason whatsoever, in
same, the Fixed Rate of Interest may in the sole discretion of the the disbursement of the Loan, the Due Date of payment of first EMI
Bank be altered suitably and prospectively, on account of changes shall in such case be the corresponding day of the following months
in the internal policies of the Bank or if unforeseen or extraordinary to the day currently stated in the Schedule attached hereto.
changes in the money market conditions take place or any change

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e. Unless otherwise agreed to/by the Bank, any amount due and
in any applicable laws or regulations or due to any other reason payable or received by the Bank, shall be adjusted/ appropriated in

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whatsoever. If the Borrower is not agreeable to the revised rate by following order without any prior intimation to the Borrower: Firstly,
the Bank then within fifteen Business Days of receipt of the notice towards costs, charges, expenses and other monies due and
from the Bank intimating the change, the Borrower shall request the

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payable by the Borrower to the Bank; Secondly towards overdue and
Bank to terminate the Loan and shall repay the Loan together with penal interest due and payable and/or accruing and payable to the
interest, cost and such other amounts as may be due to the Bank in

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Bank; Thirdly towards interest due and payable and or accruing due
full in accordance with the provisions of this Agreement relating to and payable to the Bank; Lastly towards repayment of the amount of
Prepayment. instalments of the Principal due and payable by the Borrower to the

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e. Notwithstanding anything to the contrary contained in this Agreement, Bank;
the interest payable by the Borrower shall be subject to the changes

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5.2. No notice, reminder or intimation will be given to the Borrower regarding
in rate of interest made by the Reserve Bank of India from time to the Borrower’s obligation to service the Loan/ other dues under this
time.

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Agreement on each due date.
f. Interest on the Loan shall begin to accrue simultaneously with the 5.3. Notwithstanding anything to the contrary contained in this Agreement, the
Bank’s disbursement of the Loan by issuing disbursement payment

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Borrower agrees that the Bank shall have the right at any time or from time
order/demand draft or otherwise without the Bank concerning itself to time to review and reschedule the repayment terms of the Loan or of the

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with the receipt of such disbursement by the beneficiary/recipient and outstanding amount thereof.
also with the realisation of such payment order /demand draft or the

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time taken in such realisation. 5.4. The Borrower also undertakes and agrees to pay the interest on the Loan
and other costs/charges under this Agreement, free from any deduction
g. Interest on the Loan shall be computed and debited to the Loan whether on account of tax or otherwise. Should any applicable law at any
Account as following- time require any deduction or withholding to be made from a payment,

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i. On the day of each calendar month/quarter/half year/year as Borrower’s liability in respect of such payment shall be for a revised amount
stated in the Schedule; such that after making of such deduction or withholding, the net payment
ii. Taking the basis of 365 or 366 days in a year, as may be shall be equal to the amount which the Bank would have received, had
applicable; no such deduction or withholding been made. The Borrower shall hold the
Bank harmless and fully indemnified for any claim which may be made in
iii. On the amount outstanding on the last day of the preceding this regard by any tax authorities and undertake to pay forthwith any such
period of one month/quarter/half year/year as stated in the demands which the Bank may become liable to pay. If the Borrower fails
Schedule. to pay the amount so demanded by the Bank, then the Borrower hereby
iv. Interest from the date of disbursement till the commencement authorises the Bank to enforce the Security, for the purpose of recovery of
of the EMI shall be payable every month as per the P-EMI the said tax amount.
mentioned in the Schedule, if applicable. 5.5. The Borrower agrees and confirms the amounts payable by the Borrower
h. The Bank may charge Default interest on the amounts due at in terms of the Agreement under various heads towards diverse costs
the Default Rate of Interest in accordance with the terms of this and charges and is aware that all amounts so paid by the Borrower shall
Agreement. be treated by the Bank as conclusive payments by the Borrower towards
those respective costs and charges. The Borrower agrees that if at any
4.2. Fees/Charges/Costs time it is discovered that there are any amounts due to the Bank for which
a. The Borrower has paid/agreed to pay as and when demanded by credit was erroneously passed by the Bank, then notwithstanding any No
the Bank the processing charges, service charges, disbursement objection certificate (NOC) etc. that may have been issued by the Bank,
charges, collection charges, penalties (if any), registration charges, the Bank shall be entitled to claim such amounts from the Borrower and the
other charges/fees/costs etc. as mentioned in the Schedule/ Borrower shall make such payment on a demand by the Bank to that effect.
Annexures/Sanction Letter or as specified by the Bank from time 5.6. All the charges levied by the Bank/indicated in the Agreement including
to time. The Borrower understands and agrees that the foregoing but not limited to the processing charges, service charges, disbursement
charges/fees/costs may be revised by the Bank from time to time. charges, collection charges, penalties (if any), registration charges,
The processing fees, service charge and/or other charges/fees/costs Post Dated Cheque (PDC)/ Standing Instruction (SI)/Electronic Clearing
shall be non-refundable and would be payable to the Bank whether System (ECS) dishonour charges, swap charges and other charges/
or not the Loan has been drawn down. fees/costs etc. shall be exclusive of all taxes and statutory levies as may
b. The Borrower agrees and covenants with the Bank that the Bank, be applicable on the same including but not limited to Goods & Service
may at its sole discretion, require the Borrower to promptly pay Tax and cusses thereon and shall become payable only upon the Bank
(a) the applicable stamp duty on this Agreement and also on such exercising its right to levy the same, which may be reflected in the
other documents as may be executed in relation to or incidental to periodic account statements sent or in separate advices or other similar
these presents; (b) all present and future taxes which may include document. No delay or omission to exercise any right, power or remedy
any duties, expenses and other charges whatsoever in relation to accruing to IDFC upon any breach or default of the customer(s) under this
this Agreement, the Loan, the Property and/or the Security and (c) Agreement shall impair any such right, power or remedy of IDFC either
all other charges, costs and expenses from time to time specified under this Agreement or generally under any other law in place for the
by the Bank (including all costs and expenses incurred or paid by time being in force. Any waiver/acquiescence in respect of the Specified
the Bank) in relation to this Agreement and/or any Security including Event, relating to the levy of Charges, under this Agreement shall be at
those incurred for repossession and/or sale of Property and/ or any sole discretion of IDFC whether or not under intimation to the customer(s).
Security and/or for recovery of the Loan or any part thereof. In case of IDFC further reserves the right to modify the Charges including addition of
failure of the Borrower to pay the foregoing, the Bank shall be entitled further category of similar Charges or waiver of any such Charges at its
to debit all other amounts due and payable by the Borrower under sole discretion, in connection with any Specified Event. The customer(s)
this Agreement to the Loan Account and the same shall form part of absolutely and irrevocably acknowledges and consents that it shall be
the Loan. bound by any such modification in the nature or extent of Charges even if it
 23

the same is not expressly documented or intimated and the same shall be payment of the Loan. Upon the expiry of the period of notice, if any given,
deemed to be an alteration/modification to the terms of this Agreement. the Loan Amount immediately stand repayable by the Borrower to the
5.7. EMIs may be either fixed or step up or step down. In case of step up EMIs, Bank.
the EMIs shall increase after the payment of mutually agreed EMIs as 6. SECURITY
specified in Schedule hereto. The indicated EMI shall be the EMI for the 6.1. The repayment of the Loan, interest, Default interest, fees, costs, charges
first repayment. In case of step down EMIs, the EMIs shall decrease after and expenses and all other amounts payable under this Agreement to the
payment of mutually agreed EMIs as specified in Schedule hereto. Bank shall be secured by:
5.8. The Borrower agrees, declares and confirms that, notwithstanding any of a. Way of first exclusive charge by way of mortgage in favour of the
the provisions of the Indian Contract Act, 1872 or any other applicable law, Bank over the Property
or any terms and conditions to the contrary contained in this Agreement,
the Bank may, at its absolute discretion, appropriate any payments made b. Any other security as specified in the Schedule or as may be
by the Borrower under this Agreement/any amounts realized by the Bank specified from time to time by the Bank.
by enforcement of Security or otherwise, towards the dues payable by the 6.2. The Borrower shall furnish such bonds, promissory notes, undertakings,
Borrower to the Bank under this Agreement and/or other agreements and other documents as may be required by the Bank from time to time
entered into between the Borrower and the Bank and in any manner for the purpose of securing the Loan.
whatsoever.
6.3. The Bank shall have the right to decide, at its sole discretion the place,
5.9. Delay/default in payment of PEMI/EMI etc. timing, and the manner of creation of mortgage over the Property or
In the event of default/delay in payment of any P-EMI(s)/EMI(s) or other creation of any other security/additional security by the Borrower for
monies payable under this Agreement such defaulted amount shall carry securing the Loan and all other amounts under this Agreement.
Default Interest Rate, computed from the respective due dates and shall be 6.4. The Bank shall be entitled to call upon the Borrower and the Borrower shall
compounded on daily basis. be liable to furnish to the Bank additional security as decided by the Bank
5.10. Post Dated Cheque (PDC)/Standing Instruction (SI)/Electronic in the event of the dues being more than the market value of the Security
Clearing System (ECS): (as may be assessed by the Bank from time to time and the same shall be
final and binding on the Borrower) or otherwise required by the Bank.
a. All the payments, if the Bank so decides, may be collected through
PDCs which shall be handed over at Branch and submission of 6.5. The Borrower shall not sell, charge, lease, surrender, assign, transfer,
such PDCs shall be deemed to be an unconditional and irrevocable let, further encumber or otherwise howsoever alienate, transfer, create
authority given by the Borrower to the Bank to present the cheques interest in favour of any other person or deal with/in the Property/Security
on their respective dates. The Bank shall have the authority to fill and or any part thereof during the continuation of the obligations under this
finalise all such instruments. The expression PDC shall wherever the Agreement.
context so requires shall be deemed to include ‘Electronic Clearing 6.6. The Borrower shall, if required by the Bank, (i) comprehensively insure
System’ and ‘Standing Instruction’. and keep insured the Property with an insurance company through out the
b. The Borrower shall submit with the Bank such minimum number of tenure of the loan against loss by fire, earthquake, floods and any loss or
PDCs as may be prescribed by the Bank from time to time. Such damage to the Property due to any force majeure or Act of God or other
PDCs shall be deemed to have been given for adequate consideration damages (ii) obtain insurance cover against the risk of death and injury to
already received by the Borrower and shall not absolve the Borrower the Borrower, with the Bank as sole beneficiary and submit to the Bank

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from its liability to pay the said sums hereunder until the PDC is duly original insurance policy document(s) and premium payment receipts
thereof. In case such insurance premium paid by the Bank on behalf of

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realized.
the Borrower to the insurance company shall be deemed to be part of the
c. It is expressly agreed and understood that the Borrower shall Loan availed by the Borrower and shall be added as the principal amount

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at no time issue any communication to the Bank for stopping or to the Loan granted herein and shall form part of the Loan. The insurance
postponing the presentment of the PDCs and the Bank is not bound premium being a part of Loan may be disbursed by the Bank directly to

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to take notice of any such communication and which, if issued, will such an insurance company approved by the Bank and such disbursement
be regarded as a breach of this Agreement. shall be deemed to be disbursement to the Borrower. The Borrower shall

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d. The Borrower agrees in the event of any dishonour of PDC/SI/ECS repay to the Bank the amounts paid by the Bank to the insurance company
instruction the Borrower agrees to pay dishonour charges as shall towards insurance premium as mentioned above as part of repayment

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be intimated by the Bank to the Borrower, in addition to any Default instalments. Wherever the Borrower agrees for the insurance coverage,
interest that may be levied by the Bank. (except for the premium amount) all expenses, charges, fees service

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e. The Borrower undertakes that in the event of any variation in: tax and other taxes etc. as applicable shall be incurred and paid by the
Borrower. In the even the said charges are paid by the Bank on Borrowers
i. The date of payment of P-EMI/EMI or any other amount behalf, the Borrower shall reimburse the same to the Bank within 24 hours

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payable under this Agreement; of the Bank’s demand. Notwithstanding what is stated in this clause,

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ii. The amount of interest, principal or P-EMI(s)/EMIs; Borrower hereby expressly agrees and confirms that the insurance contract
is between the insurer & the Borrower and the Bank shall not responsible

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iii. The numbers thereof; or in any manner whatsoever related to the insurance contract (including but
iv. The value of the Property, not limited to the case where the risk is accepted/not accepted, partially/
Or if otherwise required by the Bank, the Borrower shall forthwith fully by the insurer) and the Borrower will continue to remain liable for all
the dues payable by it to the Bank under this Agreement. Borrower hereby

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issue fresh PDCs/ ECS/SI/NACH instructions to the Bank as may
be required by the Bank. also expressly agrees and confirms that in case the risk is not accepted by
the insurer, the premium amount paid by the Bank directly to the insurance
f.If the Borrower at any time during the tenure of the Loan, wishes to replace company on behalf of the Borrower shall be returned directly to the Bank
any PDC with another then the Borrower will be required to pay swap and will be adjusted by the Bank in loan tenure alteration.
charges as may be determined by the Bank
6.7. Notwithstanding what is stated in aforesaid clause Borrower hereby under
for every PDC so replaced. It is clarified that it shall be at the sole takes that until any moneys are due or outstanding under this Agreement,
discretion of the Bank to either replace the PDC or to refuse the the Borrower shall ensure that the insurance policy/ies wherein the Bank
same. is the sole beneficiary are valid, subsisting and operative by complying
g. The Borrower hereby undertakes that the Borrower shall not close with the terms of issue of such insurance policy/ies including the timely
the account on which the PDC/SI/ECS/NACH is issued and also shall payment of the premium for such policy/ies and agree to produce the
not change the authorized signatory/ies to the said account without necessary proof/receipts of such validity/subsistence/ operativeness to the
the prior consent of the Bank. Bank whenever required. The Borrower shall ensure to have the property
h. Notwithstanding anything to the contrary contained in this Agreement insured at all times during the subsistence of the Loan.
and irrespective of the mode of repayment selected by the Borrower, 6.8. Any security(ies) furnished by the Borrower(s), under any other agreement
upon any default by the Borrower in repayment of any of the EMI/ entered into or to be entered into with the Bank, including its subsidiaries
PEMII/any other amount due under the Agreement, the Bank shall shall be deemed to be the security(ies) under this Agreement. Further the
be entitled, without prejudice to its other rights under the Agreement Borrower(s) agree(s) that the security(ies) offered in respect of this Loan
or law, to present and/or re- present the PDC issued by the Borrower shall be deemed to be continuing security(ies) in respect of other loan(s)/
in favour of the Bank. facility(ies) obtained/to be obtained by the Borrower(s) from the Bank and
i. The Borrower shall not demand any return of the said PDCs or any shall not be discharged till such time all the loan(s)/facility(ies) are fully
other documents provided to the Bank in relation to the Loan at discharged to the satisfaction of the Bank.
any point of time; in case of foreclosure of Loan, such PDCs will be 6.9. The Borrower acknowledges that in the event of repayment by the Borrower
destroyed by the Bank. of the Loan and other amounts due under this Agreement but there being
5.11. Prepayment of Loan any outstanding by the Borrower under any other financial facility availed
of by the Borrower from the Bank or any other person from the Bank for
a. The Bank may, at its sole discretion and on such terms as to pre- which the Borrower has extended his guarantee, then in such event, the
payment fees, etc., as it may prescribe from time to time, permit Bank shall not be obliged to release the Security and the Borrower hereby
pre-payment or acceleration of P-EMIs/EMIs at the request of the authorizes the Bank to extend the Security to cover such outstanding
Borrower. Subject to the applicable laws and if permitted by the financial facility.
Bank, the Borrower shall pay to the Bank such pre-payment charges
mentioned in the Schedule, as amended from time to time. 7. BORROWER’S REPRESENTATIONS, WARRANTIES, COVENANTS
AND UNDERTAKINGS
b. Subject to above, if the Borrower pre-pays only a part of the Loan,
the Bank shall be entitled to adjust the amount pre-paid against the 7.1. With a view to induce the Bank to grant the Loan, the Borrower, hereby
amount payable by the Borrower in such manner as the Bank thinks acknowledges/agrees/represents/warrants to/ covenants/ undertakes with
fit. In such an event the Bank shall be entitled to reschedule the the Bank that -
repayment schedule at its sole discretion and the Borrower agrees to a. the Loan is an uncommitted Loan and can be recalled by the
adhere to such altered re-payment schedule. Bank on demand, and may be cancelled and repudiated in part
5.12. Recall of the Loan by the Bank: or in entirety by the Bank, at any time without notice and without
giving any reason.
The Borrower agrees that the Bank shall be entitled to, at any time, in its
discretion, recall the Loan by giving to the Borrower notice in writing. It is b. Information furnished in the Application is true and complete in all
specified that the repayment schedule set out in the Schedule is without respects;
prejudice to the Bank’s right to recall the entire Loan and to demand c. All consents, approvals, clearances, permissions, authorizations,
 24

or requirements required in connection with the execution and itself/themselves and to comply at all times with all relevant laws
validity of this Agreement and for creation/perfection of Security relating to Foreign Account Tax Compliance Act (FATCA)/(CRS)
in favour of the Bank have been obtained and are in full force reporting.
and effect; x. The Borrower also agrees to furnish and intimate to the Bank,
d. There has been no material adverse change in the financial any other particulars that are called upon the Borrower to provide
position of the Borrower nor has any event taken place which is on account of any change in law either in India or abroad in the
prejudicial to the interest of the Bank which is likely to materially subject matter herein.
and/or adversely affect the ability of the Borrower to perform all or y. The Borrower indemnifies the Bank for any loss that may arise
any of its obligations under this Agreement. to the Bank on account of providing incorrect or incomplete
e. The Loan shall be utilised only for the Purpose. information.
f. The Borrower shall allow any person authorized by the Bank to z. The Borrower shall not in any case or situation permit any change
have free access to the Property for the purpose of inspection/ in the ownership or control of the Borrower whereby the effective
supervision of the Property; beneficial ownership or control of the Borrower shall change in any
g. There are no pending claims demands litigation or proceedings manner whatsoever, without the prior written consent of the Bank
against the Property before any court or authority; aa. The Borrower shall not make any changes in the constitution,
h. The Borrower shall notify the Bank of any event or circumstances composition and the registered address of the Borrower without
which might be or become a cause of delay in the commencement, the prior written consent of the Bank;
construction or completion of the construction/purchase/ bb. The Borrower shall not, in case the Borrower being a Company,
modification of the Property; declare any dividend if any instalment towards principal or interest
i. The Borrower/Co-Borrower is (when the Property is in existence) remains unpaid on its due date;
or shall be (when the Property shall come in existence upon the cc. In case the Borrower being a limited liability partnership, the
proposed utilization of the Loan) absolutely seized and possessed Borrower confirms that the Bank has sanctioned the Loan to the
with and sufficiently entitled to the Property and shall not during Borrower by relying upon inter alia the provisions of section 33(2)
the tenure of this Agreement create any encumbrance over the of the Limited Liability Partnership Act, 2008 and in the event that
Property or any part of it. The Borrower shall not combine, merge, any modification is carried out by the Borrower the ownership and/
amalgamate or consolidate the Property with any other property or beneficiary of the property, change in composition, constitution
with any right of way or easement in to or over the Property; of the Borrower without notice to the Bank, the Bank would enforce
j. There are no mortgages, lien, charges or other encumbrances or the obligations of the Borrower and the partners against each of
any other rights of way, light, water or other easements or right of the partners in their individual capacity.
support on the whole or any part of the Property, save and except dd. The Borrower shall not, in case the Borrower being a partnership
those as may be disclosed to the Bank. firm, change the composition of its partners;
k. Any third party rights created by the Borrower over the Property ee. Except to the extent disclosed to the Bank : (i) all the Borrower’s
or any part of it (including by way of license or tenancy or use contracts or agreements with, or any commitments to, any affiliates
as guest house or otherwise) shall be subject to the charge of the or group companies (if applicable) are on arms’ length basis; (ii)

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Bank over the Property. (a) where the Borrower is an individual, he/ she is not a director
l The Borrower shall not change the residential status of the or specified near relation of a director of a banking company; (b)

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Property and maintain the Property in good order and habitable where the Borrower is a partnership firm/HUF/ limited liability
condition and shall also duly pay all taxes and other duties payable partnership firm, none of the partners or members of the HUF is

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in relation to the same. The Borrower shall submit with the Bank a director or specified near relation of a director of a banking
documentary evidence towards payment of the forgoing; company; and (c) where the Borrower is a joint stock company,

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none of its directors, is a director or specified near relation of a
m. The Borrower shall file Notice of Intimation or such other details director of a banking company; (iii)(a) where the Borrower is an
in respect of mortgage created/to be created over the Property individual, that he/ she is not a specified near relation to any

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with the concerned registrar and any other authority as required senior officer of the Bank, (b) where the Borrower is a partnership
by the applicable laws and the Bank; firm/HUF/ limited liability partnership firm, none of the partners or

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n. The Borrower shall whenever required by the Bank submit members of the HUF, is a specified near relation of any senior
statements of annual income certified and audited by a practicing officer of the Bank, and (c) where the Borrower is a joint stock

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chartered accountant along with a copy of the tax returns filed company, none of its directors, is a specified near relation of any
with the income tax authorities duly certified by such chartered senior officer of the Bank (d) where the Borrower is a Trust or

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accountant and such other information/ documents concerning Society, none of the trustees of the Trust or the members of the
Society, is a specified near relation of any senior officer of the

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employment, trade, business, profession or otherwise as the
Bank may require from time to time; Bank

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o. Wherever applicable, the Borrower shall inform the Bank of any ff. The Borrower shall ensure that neither the Borrower nor any
likely change in his employment or about his/her superannuation/ director/partner/member/trustee of the Borrower has been
retirement. declared a wilful defaulter; in case any director/partner/member/
trustee has been declared as a wilful defaulter, the Borrower shall

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p. The Borrower shall (in case of more than one borrower) be jointly take expeditious steps for removal of such person.
and severally liable to repay the Loan, interest and all other
sums due and payable under this Agreement and to observe its gg. The Borrower shall not, during the tenure of this Agreement, avail
terms and conditions; of or obtain any further loan or facility on the security of the
Property without the prior written consent of the Bank.
q. Wherever applicable, the Borrower shall notify the Bank regarding
the change in his/her/their status as a resident/ non-resident hh. .The Borrower acknowledges and accepts the rates of interest and
Indian. In case of being non-resident Indian/person of India its calculation method, other fees, charges and all other amounts
origin, shall abide by and fulfil the provisions of Foreign Exchange payable as per the terms of this Agreement as reasonable and the
Management Act, 1999, as amended from time to time and all Borrower has understood the meaning of each terms and financial
other applicable laws with respect to purchasing, retaining, using, implications, amounts payable and liabilities and obligations
selling immovable property in India and repatriating proceeds created under this Agreement.
outside India and shall indemnify and keep indemnified the Bank ii. The Borrower agrees that the obligation to deduct and deposit tax,
in that behalf. if applicable, on purchase of immovable property under Section
r. All the amounts including the amount of own contribution paid/ 194IA of the Income Tax Act, 1961 rests with the Borrower and
payable in connection with the Property as well as the Security the Bank will not be liable to make such payments on behalf of the
is/shall be through legitimate source and does not/shall not Borrower.
constitute an offence of money laundering under the Prevention 8. EVENTS OF DEFAULT AND CONSEQUENCES THEREOF
of Money Laundering Act, 2002.
8.1. The Bank may by a written notice to the Borrower, declare all sums
s. The Borrower hereby certifies that he/it/they have declared his/its/ outstanding under the Loan (including the principal, interest, charges,
their status as per the rules applicable under section 285BA of expenses) to become due and payable forthwith and enforce the Security
the Income Tax Act, 1961 (the Act) as notified by Central Board of upon the occurrence (in the sole decision of the Bank) of any one or more
Direct Taxes (CBDT) in this regard. of the following:
t. The Borrower certifies that the information provided by the a. The Borrower fails to pay to the Bank EMI / P-EMI / any amount when
Borrower to the Bank is to the best of the Borrower’s knowledge due and payable under this Agreement;
and belief, true, correct, and complete and that the Borrower
has not withheld any material information that may affect the b. If the Borrower fails to submit the requisite number of PDCs or if any
assessment/categorization of the account as a reportable account of the PDC is dishonoured.
or otherwise. c. Delay in commencement, construction, or completion of the
u. The Borrower undertakes the responsibility to declare and construction/purchase/modification of the Property.
disclose within 30 days from the date of change, any changes that d. The Borrower fails to pay to any person other than the Bank any
may take place in the information provided to the Bank. amount when due and payable or any person other than the Bank
v. The Borrower also agrees that failure to disclose any material demands repayment of the Loan or dues or liability of the Borrower
fact known to the Borrower, now or in future, may invalidate the to such person ahead of its repayment terms as previously agreed
Borrower’s application and the Bank would be within its right to between such person and the Borrower;
put restrictions in the operations of the Loan Account or close it e. The Borrower defaults in performing any of his obligations under
or report to any regulator and/or any authority designated by the this Agreement or breaches any of the terms or conditions of this
Government of India (GOI) /Reserve Bank of India for the purpose Agreement or any other security documents, undertakings etc.
or take any other action as may be deemed appropriate by the executed in favour of the Bank;
Bank if the deficiency is not remedied by the Borrower within the f. The death, insolvency, failure in business, commission of an act of
stipulated period. bankruptcy, order for winding up, dissolution (in case of partnership
w. It shall be the responsibility of the Borrower to educate himself/ firms), general assignment for the benefit of creditors, if the Borrower
 25

suspends payment to any creditors and/ or the Borrower threatening belonging to the borrower(s) coming in the hands of the Bank towards
to do so and/or the filing of any petition in bankruptcy/winding up/ repayment of loan under this agreement or any other agreement upon
dissolution of by, or against the Borrower and the same is not occurrence of the event of default. Exercise any such right shall be binding
withdrawn within 30 days of being admitted; on the Borrower(s)
g. Any Representations, Warranties etc. herein being found to be or 9. APPOINTMENT OF THE BANK AS THE BORROWER’S ATTORNEY
becoming incorrect or untrue; The Borrower shall appoint the Bank as its true and lawful attorney to do
h. If the Borrower fails to create the Security as provided herein or if and execute for and in the name and on behalf of the Borrower and where
the Property is destroyed, sold, disposed of, charged, encumbered, the Borrower is more than one individual, jointly and severally, all or any of
alienated, attached, or restrained in any manner or if the value of the acts, deeds, and things, specified therein. The powers so vested in the
the Property or any Security created or tendered by the Borrower, Bank shall be irrevocable and subsist in favour of the Bank till all dues of
in the sole discretion and decision of the Bank, depreciates entitling the Borrower to the Bank are fully satisfied.
the Bank to call for further security and the Borrower fails to give
additional security;
10. ASSIGNMENT AND TRANSFER
i. If any consent, authorisation, approval or license of or registration
with or declaration to governmental or public registration with or The Bank shall have a right to sell or transfer (by way of assignment,
declaration to governmental or public bodies or authorities required securitisation or otherwise) whole or part of the Loan and outstanding
by the Borrower in connection with the execution, delivery, validity, amounts under the Loan or any other rights under this Agreement or
enforceability or admissibility in evidence of this Agreement or the any other document pursuant hereto to any person in a manner or under
performance by the Borrower of its obligations hereunder is modified such terms and conditions as the Bank may decide in its sole discretion.
in a manner unacceptable to the Bank or is not granted or revoked or The Borrower shall not transfer or assign the rights under this Agreement
terminated or expires and is not renewed or otherwise ceases to be in without previous written consent of the Bank
full force and effect; The Borrower expressly agrees that in the event of any sale, assignment
j. An event of default howsoever described occurs under any other or transfer as aforesaid, to accept the Lender/Assignee to whom the Loan
agreement or document relating to any indebtedness of the Borrower is sold, assigned or transferred as the Lender and make the repayment of
with the Bank or other lenders, if any. the Loan to the Lender/Assignee. The Borrower acknowledges and agrees
that the Bank /the Lender/Assignee shall have the right to change the
k. Any other event likely to have materially adverse effect on the ability Interest Rate from time to time under its policies at its sole discretion and
of the Borrower to make payments under this Agreement. the Borrower shall be bound by such modifications in totality.
8.2. Consequences of default: Any cost in this behalf, whether on account of such sale, assignment or
a. In the event of any default as mentioned in Clause 8.1 above the transfer or enforcement of rights and recovery of outstanding and dues
Bank shall have the right to: shall be to the account of the Borrower. The Borrower under takes to pay
i. Cancel/Recall the entire Loan and declare all monies to such assignee the difference between the Loan outstanding and the
outstanding under this Agreement to be due and amount received by the Bank in the event of transfer of the loan under this
immediately payable; Agreement to such assignee.
ii. Take possession of the Security so created whether by

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itself or through any of the recovery agents or attorneys 11. DISCLOSURE/SHARING OF INFORMATION/ PRIVACY OF BORROWER
as may be appointed by the Bank and alienate sell, INFORMATION

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transfer the same. 11.1. The Borrower irrevocably agrees and consents to the Bank at any time
and in any manner disclosing and/or making available to any agencies,

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iii. Take any other action as it may deem fit for recovery of
its dues and enforcement of the Securities. bureaus, affiliates or subsidiaries of the Bank, associations and other

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iv. to communicate in any manner, it may deem fit, to persons whosoever any information (including personal and financial
or with any person or persons including guarantors, information) and documents of or relating to the Borrower, including any
person giving reference to loan, with a view to procure credit information, in such cases where the Bank considers appropriate

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assistance of such person or persons in recovering the including where such disclosure is permitted or required by or under law
defaulted amounts including but not limited to visiting or where the Bank is of the view that the interests of the Bank require

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the property and/or any place of work of the Borrower. such disclosure or for furnishing such information and documents for
preparation, publication and distribution of credit reports and credit opinions

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b. The Bank shall be entitled to take possession of the Property, relating to the Borrower to other persons including banks and financial
irrespective of whether the Loan has been recalled whenever in institutions. The provisions of this clause shall survive termination of this

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the opinion of the Bank, there is an apprehension of any money Agreement. The Bank shall also have a right to obtain similar information/
not being paid or the Security being jeopardised. reports relating to the Borrower from credit agencies, credit bureaus, other

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c. In addition to the rights and remedies the Bank may have under banks and financial institutions as the Bank may deem fit.

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this Agreement, the Bank shall be irrevocably entitled and 11.2. The Borrower agrees that if the Borrower commits any breach of any
authorised to require the employer of the Borrower to make provision of this Agreement or any default or delay in the repayment of
deductions from the salary/wages payable by the employer to the Loan or any amount payable under this Agreement whatsoever which
the Borrower and remit the same to the Bank until the entire the Borrowers is liable to pay, the Bank shall have the unqualified right

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outstanding dues of the Borrower under this Agreement are to disclose or publish the Borrower’s name and particulars (including
completely discharged. The Borrower undertakes and agrees not photographs and particulars of accounts), as a defaulter in such manner
to raise any objection to such deductions. as the Bank may deem fit.
8.3. Set Off 11.3. In the Event of Default, the Bank shall also be entitled to communicate in
Without prejudice to what is stated herein, the Borrower hereby expressly any manner it may deem fit, to or with any person or persons including
agrees and confirms that in the event of the Borrower failing to pay the guarantors, person giving reference to loan, with a view to procure
amount outstanding under the Loan or any other loan/ facility, whether as assistance of such person or persons in recovering the defaulted amounts
borrower or guarantor or otherwise, in addition to any general or similar including but not limited to visiting the property and/or any place of work of
lien to which the Bank or any of its subsidiary/affiliates may be entitled by the Borrower.
law, the Bank shall, without prejudice to any of its specific rights under 11.4. The Borrower agrees that the Bank may be required to disclose Borrower
any other agreements with the Borrower, at its sole discretion and without personal and financial information to the statutory authorities in connection
notice to the Borrower, be at liberty to apply any other money or amounts with any legal process that may be initiated by such authorities in
standing to the credit of the Borrower in any account (including fixed deposit accordance with applicable laws.
account) of the Borrower (whether singly or jointly with another or others)
with the Bank or any of its subsidiary/affiliates in or towards payment
of the monies due from the Borrower. The rights of the Bank under this 11.5. The Bank discourages the Borrower from sending or posting to the Bank’s
Agreement are in addition to other rights and remedies (including without web site any information that the Borrower considers to be confidential
limitation other rights or set off) which the Bank may have under applicable or proprietary. Please note that if the Borrower do send or post any such
law or otherwise. information or material, the Bank will assume that it is not confidential.
The Bank may at its absolute discretion appropriate any payments made By sending or posting any information or material, the Borrower grant
by the Borrower under this loan Agreement towards repayment of any other the Bank an unrestricted, irrevocable license to use, reproduce, display,
loan outstanding under any other loan agreement or transaction entered perform, modify, transmit and distribute those materials or information, and
into by the Borrower with the Bank and/or towards any other Indebtedness the Borrower agrees that the Bank is free to use any ideas, concepts,
of the Borrower and such adjustment and/or appropriation shall be final know-how or techniques that the Borrower sends or post for any purpose
and binding on the Borrower and the Borrower shall continue to remain on this web site.
liable to the Bank for payment of dues under this loan Agreement in 11.6. The Borrower agrees that the Bank may also share Borrower information
respect of which such sums of money were so paid but were appropriated to provide Borrowers with superior services and a range of offers. The
towards another outstanding dues under any other loan this Agreement or Bank may use this information to advise Borrowers about products,
transaction entered into by the Borrower with the Bank or towards another services and other marketing materials, which the Bank think may be of
Indebtedness of the Borrower. In addition, the Borrower hereby authorises interest to Borrowers. The Bank further reserves the right to disclose the
the Bank to appropriate/adjust any balance amounts of the sale proceeds in information to any third party if the disclosure of the same is for getting any
possession of the Bank post appropriation/adjustment of the sale proceeds additional service, products which may be beneficial to the Borrower, as
consequent of proceeds has the power to upon sell/transfer or otherwise per the sole assessment and discretion of The Bank.
disposal of any and/or all security created in its favour of the Bank under 11.7. The Bank will limit the collection and use of Borrower information only on a
the security documents or pursuant to this Agreement upon default/ breach need-to-know basis to deliver better service to the Borrowers. The Bank may
of terms of this Agreement, or deposited with Bank or under its possession use and share the information provided by the Borrowers with its Affiliates
or control and appropriate the same towards satisfaction/repayment of any and third parties for providing services and any service-related activities
other loan/ amounts due to the Bank on account of under any another such as collecting subscription fees for such services, and notifying or
agreement or transaction entered into by the Borrower with the Bank and/ contacting the Borrowers regarding any problem with, or the expiration of,
or the Indebtedness of the Borrower. such services. In this regard, it may be necessary to disclose the Borrower
The Bank shall have right to apply and/or appropriate and/or set off any information to one or more agents and contractors of the Bank and their
credit balance of the Borrower(s) or any monies/assets (including but sub-contractors, but such agents, contractors, and sub-contractors will be
not limited to property, assets, securities, shares, stocks, and the like) required to agree to use the information obtained from the Bank only for
 26

the said purposes. The Borrower authorises the Bank to exchange, share, in separate counterparts, each of which, when so executed and delivered,
part with all information related to the details and transaction history of shall be deemed to be an original, but all such counterparts together shall
the Borrower to its Affiliates/ banks/ financial institutions/ credit bureaus/ constitute one and the same instrument only.
agencies/ participation in any telecommunication or electronic clearing 12.6. Supremacy & Amendment
network as may be required by law, customary practice, credit reporting,
statistical analysis and credit scoring, verification or risk management or This Agreement supersedes all discussions and Agreements (whether
any of the aforesaid purposes and shall not hold The Bank liable for use oral or written, including all correspondence) prior to the date of this
or disclosure of this information. The Bank/IDFC FIRST values relationship Agreement between the Parties with respect to the subject matter of this
with Borrower and will at all times strive to ensure Borrower’s privacy. Agreement. This Agreement may be modified or amended only by a writing
duly executed by or on behalf of each of the Parties.
11.8. The Borrower understands that:
12.7. Waiver
a. the Credit Information Bureau (India) Ltd. and any other agency
so authorized may use, process the said information and data Any failure and/or delay on the part of the Bank in exercising any right
disclosed by the Bank in the manner as deemed fit by them, and or power under this Agreement or documents in connection with this
Agreement shall not operate as a waiver thereof, nor shall any single or
b. The Credit Information Bureau (India) Ltd. and any other agency partial exercise of any such right or power preclude any other or future
so authorized may furnish for consideration, the processed exercise thereof or the exercise of any other power or right. The rights and
information and data or products thereof prepared by them, to remedies of the Bank provided for in this Agreement are cumulative and
banks/financial institutions and other credit grantors or registered not exclusive of any rights or remedies available under the law.
users, as may be specified by the Reserve Bank of India in this
behalf. 12.8. Governing Law, Jurisdiction and Arbitration:
12. MISCELLANEOUS The Parties agree that this Agreement shall be governed by the laws of
India. The Borrower hereby expressly agrees that all disputes arising out
12.1. Appointment of third parties by the Bank of and/or relating to this Agreement including any transaction document
The Borrower accepts that the Bank shall without prejudice to its right to which is:
perform the activities itself or through its officers or employees or other a) below the pecuniary jurisdiction limit of the Debt Recovery Tribunals
authorised agents, be entitled, and have full power and authority, to established under Recovery of Debts Due to Banks and Financial
appoint one or more third parties and delegate to such third party all or Institutions Act, 1993 (51 of 1993), then such dispute shall be referred
any of its functions, rights and powers under this Agreement relating to the to arbitration in accordance with the provisions of the Arbitration and
administration of the Loan including the right to collect and receive on behalf Conciliation Act, 1996 as may be amended, or its re-enactment, by a
of the Bank all the dues under this sole arbitrator, appointed by the Bank. The arbitration proceeding shall
Agreement and give valid and effectual receipts and discharge to the be conducted in the English language. The award passed by the arbitrator
Borrower and to perform and execute all lawful acts, deeds, matters and shall be final and binding on the Parties. The costs of such arbitration shall
things connected herewith or incidental hereto. For the purpose aforesaid be borne by the losing Party or otherwise as determined in the arbitration
or any other purpose which the Bank at the sole discretion may deem fit, award. The arbitration proceedings shall be held either in Delhi/ Mumbai/
the Bank shall be entitled to disclose to such third parties all necessary and Chennai/ Kolkata and/or such other place as may be notified at the sole
relevant information pertaining to the Borrower. discretion of the Bank.

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12.2. Notices & Communications b) above the pecuniary jurisdiction limit of the Debt Recovery Tribunals
All notices, requests, demands, waivers or other communications established under Recovery of Debts Due to Banks and Financial

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(including Customer Copy of Loan Agreement, Key Fact Statement, Institutions Act, 1993 (51 of 1993), then such dispute shall be referred at
Welcome Letter etc., under or in connection with this Agreement shall the sole discretion of the Bank to:

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be issued in writing through mail, e-mail, instant messaging app, SMS The exclusive jurisdiction of the courts/tribunals of the city in which the
or fax as mentioned under the Schedule. Any such notice or other Branch/Bank Outlet of the Bank is situated. Provided that to the extent

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communication will be deemed to have been duly given if: (a) delivered allowed by law, the Bank shall be entitled to take proceedings relating to a
personally; (b) sent by registered mail with postage prepaid; (c) sent by dispute in any court/tribunal of any place with jurisdiction.

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next-day or overnight mail/courier or delivery; or (d) sent by email/instant Or/And
messaging app/facsimile/SMS. Borrower confirms that all risks shall

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be fully borne by him and he assumes full responsibility for the same.
To arbitration in accordance with the provisions of the Arbitration and

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SMS, instant messaging app etc., are for his/their our convenience. IDFC Conciliation Act, 1996 as may be amended, or its reenactment, by a sole
FIRST Bank shall not be liable or responsible for any breach of secrecy arbitrator, appointed by the Bank. The arbitration proceeding shall be
owing to communication/documents being sent digitally. Borrower shall

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conducted in the English language. The award passed by the arbitrator
verify the authenticity of the emails, instant messaging app etc., and shalln shall be final and binding on the Parties. The costs of such arbitration shall

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ot hold the Bank responsible for any statements received from frauds / be borne by the losing Party or otherwise as determined in the arbitration
imposters. Borrower shall not hold the Bank liable if any problem arises award. The arbitration proceedings shall be held at Delhi/ Mumbai/

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with his/their computer/mobile network . Borrower understand and agree Chennai/ Kolkata and/or such other place as may be notified at the sole
that the email statements, SMS, documents, communications will only discretion of the Bank.
be sent to the first holder of either registered email id/registered Cell No/
The Arbitration proceedings may also be held through Video conference.
registered WhatsApp number. Borrower shall inform the Bank in writing if

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To attend any hearing ordered by the tribunal, the following shall apply:
there is any change in his/their communication address. The Bank shall
not be responsible incase if the Borrower’s do not receive the statements i. any such hearing shall be held via video conference upon the order of
due to incorrect communication address provided by Borrower or due to the tribunal;
technical reasons. Borrower undertakes to take all necessary steps to ii. the parties agree that no objection shall be taken to the decision, order
ensure confidentiality and secrecy of the login name and password of the or award of the tribunal following any such hearing on the basis that the
internet / email account. hearing was held by video conference”.
Borrower understands and acknowledges that there are inherent risks 12.9. FORCE MAJEURE
involved in sending and receiving instructions/communications/documents
via electronic mode viz., emails/ SMS/WhatsApp messaging services etc., The Borrower shall be liable to perform or fulfil its obligations at all point
and hereby agree and confirm that all risks shall be fully borne by him and of time and shall not delay/postpone performance, its obligations in whole
he assumes full responsibility for the same. He will not hold the lender or in part, even on the ground of any force majeure event such as acts of
liable for any losses or damages including legal fees arising owing to any God, floods, cyclones, earthquakes, fires, wars, riots, strikes, orders of
miscommunication or technological error beyond the control of the lender. governmental or other statutory authorities.
Borrower shall be responsible to ensure the authenticity, validity, or source
of any instructions/documents and shall be liable if any instructions/ The Borrower(s) hereby expressly acknowledge, declare and confirm that the
documents turned out to be unauthorized, erroneous, or fraudulent nor will Borrower/s have read, verified and understood all the terms and conditions of
any such communication amount to spam, unsolicited communication or a para No. 1 to 12 as contained in page No 1 to 7 of this loan agreement above
violation of borrower(s) registration on the national do not call registry. written and hereby accept the said terms and conditions and irrevocably
12.3. Severability agree to abide by the same by affixing my/our signatures herein below.
Every provision contained in this Agreement shall be severable and distinct
from every other such provision and if at any time any one or more of such The borrower is aware that this document is an electronic record in terms of
provisions is or becomes invalid, illegal or unenforceable in any respect Information Technology Act, 2000 and rules there under as applicable to electronic
under any applicable law, the validity, legality and enforceability of the records in various statutes as amended by the Information Technology Act, 2000.
remaining provisions hereof shall not be in any way affected or impaired
thereby.
The Borrower hereby expressly acknowledges and confirms that the Borrower has
12.4. Indemnity read, verified, understood, irrevocably agreed to and accepted and delivered all the
The Borrower undertakes to indemnify and keep Bank and its officers/ terms and conditions contained in Clauses 1 to---- (including sub clauses), schedule
employees fully indemnified and harmless from and against all the of charges, Standing Instruction (collectively, "Loan Documents") online by ticking
consequences of breach of any of the terms, condition, statements, / clicking / checking /affixing signatures the "I Agree" or "I Agree and Accept"
undertakings, representations and warranties of this Agreement as also of or any similar icon/tab/option on the online system / Website / portal / platform
any of its representations or warranties not being found to be true at any of Merchant/ its agent/ service provider/partners as well as by entering the one
point of time, including any actions, suits, claims, proceedings, damages, time password ("OTP") provided to the Borrower's mobile number registered with
liabilities, losses, expenses or costs faced, suffered or incurred by the the Bank. The Borrower also acknowledges that the execution of the agreement
Bank. The Borrower hereby agrees to and understands that this indemnity would be complete only once the same is accepted by the Bank. The Bank shall
would cover all acts and omissions on the part of the warranties and/or be deemed to have accepted and signed this document online by way of sending
representations of the Borrower. This indemnity shall survive termination an email/ letter through its officer to the Borrower and attaching therewith the copy
of this Agreement. of this document. For the purpose of stamp duty, any writing on a stamp paper or
12.5. Entire Agreement & Counterpart franked page associating the stamp paper or such franked page with this document
will be as good as making the stamp paper/franked page an integral part of this
The Parties confirm that this Agreement and its Schedule & the relevant document.
Annexure(s) and any other documentation pursuant to it, represent one
single agreement between the Parties. This Agreement may be executed
 27

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and acknowledged by their respective officers or
representatives on the day, month, year and place as set out in Schedule I hereof

Signed and delivered by the within named Borrower: Date: ______________________________________

1. ___________________________________________ ___________________________________________
Borrower Name Signature of the Borrower

2. ___________________________________________ ___________________________________________
Co-Borrower Name Signature of the Co-Borrower

3. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

4. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

Signed, and Delivered by the within named Bank, IDFC FIRST Bank Limited through its authorized official.

Authorized Signatory : ______________________________________

Employee Code : __________________________________________

Employee Name : _________________________________________

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NRI-SIMPLE HOME LOAN (ANNEXURE I) Customer Copy

In case the Borrower is a Non-Resident Indian (“NRI”) or Person of Indian Origin Notwithstanding anything to the contrary contained in this
(“PIO”), the terms and conditions set out in this Annexure I shall be applicable, in Agreement, the Loan together with all interest, costs, charges etc.
addition to the terms and conditions set out in the Loan Agreement and such other shall become immediately due and payable in case -
Annexure(s) as may be applicable. a. The Borrower except the Co-Borrower ceases to be an Indian
citizen and /or acquires citizenship of any other country or a
IT IS AGREED AS FOLLOWS: foreign passport;
b. The Borrower except the Co-Borrower changes his residence
from the country stated in the Schedule to another country or
Incorporation of defined terms: leaving the country of residence as stated in the Schedule,
Unless a contrary indication appears, terms defined in the Home Loan Agreement for employment or business or for long-term stay in any other
shall have the same meaning in this Annexure. country.

“NRI” or non-resident Indian shall mean a person resident outside India who is a IV. The following sub-clauses shall stand added after sub-clause (ii) of
citizen of India. For the purposes of this Annexure, the term ‘NRI’ shall also include clause 7.1 in the Home Loan Agreement:
a person of Indian origin (“PIO”) which shall include a citizen of any country other ii. The Borrower except the Co-Borrower holds a valid Indian
than Bangladesh or Pakistan who had (a) at any time held Indian passport or (b) he passport as per details stated in the Schedule and is not resident
or either of his parents or any of his grandparents was a citizen of India by virtue of of India and is a resident of the country stated in the Schedule
the Constitution of India or the Citizenship Act, 1955 or (c) the person is a spouse of under residence permit of such country which is valid on the date
an Indian citizen or a person referred to in (a) or (b). of this Agreement and possesses a valid employment contract or
business licence of such country and has been in employment/
has been carrying on business or vocation in such country or who
This Annexure and the terms and conditions hereunder shall come into force on the stays abroad for any other purpose in circumstances indicating
signing of the same by the Borrower and the Bank. With effect from the date of this an indefinite period of stay outside India;
Annexure and for the purposes of this Annexure, the Home Loan Agreement shall
stand amended as follows:
jj. The Borrower shall notify the Bank regarding the change in his/
her/their status as a resident/non-resident Indian.
I. The following sub-clause (h) shall stand added after sub-clause (g) of
clause 3.2 in the Home Loan Agreement and subsequent sub-clauses
renumbered accordingly: kk. The Borrower except the Co-Borrower shall promptly inform
h. The Borrower except the Co-Borrower shall have submitted the Bank or upon any change in the country of residence as
to the Bank an evidence that the he holds an Indian passport stated in the Schedule or leaving such country of residence for
and is a resident of the Country stated in the Schedule under employment or business or a long-term stay in any other country;

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residence permit of such Country which is valid on the date of ll. The Borrower except the Co-Borrower shall abide by and fulfil
this Agreement and possesses a valid employment contract of the provisions of Foreign Exchange Management Act, 1999,

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business license of such Country and has been in employment/ as amended from time to time and all other applicable laws
has been carrying on business or vocation in such Country with respect to purchasing, retaining, using, selling immovable

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or who stays abroad for any other purpose in circumstances property in India and repatriating proceeds outside India and shall
indicating an indefinite period of stay outside India; and indemnify and keep indemnified the Bank in that behalf.

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mm. None of the Co-Borrowers are persons who are not relatives
II. An additional Clause 5.1A shall be added after Clause 5.1 of the Home (as defined under Foreign Exchange Management (Borrowing

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Loan Agreement as follows: and lending in rupees) Regulations, 2000, dated 3-5-2000 [GSR
387(e)]) of the Borrower.
5.1A The Borrower except the Co-Borrower shall ensure that the

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repayment of monies under this Agreement is made through the
funds held in any non-resident account maintained in accordance V. The following shall be read together with the Clause 12.2 of the Home

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with the provisions of the Foreign Exchange Management Act, Loan Agreement:
1999 and the regulations made by Reserve Bank of India from

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time to time. The Borrower hereby authorizes the Co-Borrower to receive any notice/s or
request on his behalf. The Borrower further submits that any notice/s and/

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or request served on/to the Co-Borrower shall be deemed to be served on
the Borrowers and need not be separately served on the Borrower.

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III. An additional Clause 5.10A shall be added after Clause 5.10 of the
Home Loan Agreement as follows:

5.10 A Repayment in case of change in NRI Borrower’s status

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Signed and delivered by the within named Borrower: Date: ______________________________________

1. ___________________________________________ ___________________________________________
Borrower Name Signature of the Borrower

2. ___________________________________________ ___________________________________________
Co-Borrower Name Signature of the Co-Borrower

3. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

4. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

Signed, and Delivered by the within named Bank, IDFC FIRST Bank Limited through its authorized official.

Authorized Signatory : ______________________________________

Employee Code : __________________________________________

Employee Name : _________________________________________

 29

SHORT & SWEET HOME LOAN (ANNEXURE II) Customer Copy

In case the Borrower has chosen the Short & Sweet Home Loan, the terms and IV. An additional Clause 5A – Loan Account shall stand added after
conditions set out in this Annexure II shall be applicable, in addition to the terms Clause 4.2 of the Home Loan Agreement as follows:
and conditions set out in the Loan Agreement and other such other Annexure(s) as 5A. Loan Account
may be applicable.
5A.1. The Bank may allow the Borrower to operate the Loan Account also
as a current account during the continuity of the Loan in terms of
IT IS AGREED AS FOLLOWS: this Agreement. Without prejudice to the guidelines prescribed
by the Bank for operation of current account which the Borrower
acknowledges to have read and understood, the Bank may allow
Incorporation of defined terms: the Borrower to deposit into and withdraw monies from the Loan
Account at any point of time and from time to time. Provided that
the amount which may be withdrawn from the Loan Account
Unless a contrary indication appears, terms defined in the Home Loan Agreement at any given point of time shall be subject to the excess monies
shall have the same meaning in this Annexure. deposited by the Borrower into the Loan Account and the interest
saved in terms of Clause 4.1(f)). Notwithstanding anything to the
This Annexure and the terms and conditions hereunder shall come into force on the contrary contained herein, the Borrower recognises and accepts
signing of the same by the Borrower and the Bank. With effect from the date of this that the Bank may, at any time, without any advance notice to
Annexure and for the purposes of this Annexure, the Home Loan Agreement shall the Borrower shall have a right to cancel the withdrawal from the
stand amended as follows: Loan Account the monies saved in terms of Clause 4.1 (f).
5A.2. The Borrower agrees that upon the repayment of Loan together
with interest, fees, costs, charges and expenses and all other
I. Clause 4.1 (a) of the Home Loan Agreement shall stand substituted amounts payable under this Agreement, the Loan Account shall
by the following clause 4.1 (a): be closed by the Bank and the Borrower shall withdraw any
4.1 (a) The Borrower shall pay to the Bank, interest on the amount monies lying in the Loan Account.
of the Loan outstanding from time to time at a rate equal to IV. An additional Clause 5.1A shall stand added after Clause 5.1 of the
the Applicable Rate of Interest and/or Default Rate of interest Home Loan Agreement as follows:
mentioned in the Annexure, which shall be calculated in
accordance Clause 4.1(f) of this Agreement. 5.1A Notwithstanding the above, EMI/P-EMI shall be serviced by
the Borrower on the due dates without having recourse to any
excess funds deposited in the Loan Account in terms of Clause
II. Clause 4.1 (b) of the Home Loan Agreement shall stand substituted 4.1(f) and Clause 5A.1. Notwithstanding anything to the contrary
by the following clause 4.1 (b): contained herein, in case of any default in repayment of the Loan
4.1 (b) The Borrower is aware and confirms with the Bank that in case of by the Borrower, the Bank, without prejudice to its rights under
Floating Rate of Interest, the Applicable Rate of Interest and/or this Agreement, shall have a right to set off the monies/amounts
Default Rate of Interest shall change as and when there is any standing to the credit of the Loan Account against the dues of

Y
change/reset in the EBR. The Borrower shall be deemed to have the Borrower without declaring the same as an event of default.

P
notice of such change whenever the same is announced/notified/ V. An additional Clause 5.11A shall stand added after Clause 5.11 of the
displayed by the Bank on its website/Branch or otherwise. The Home Loan Agreement as follows:

O
change in the Applicable Rate of Interest and/or Default Rate of 5.11A Mandatory Pre-payment
Interest on account of the aforesaid shall become effective on
In case the monies deposited into the Loan Account are in excess

C
the first date of next English calendar month falling the date after
such reset. of the Loan including the principal, interest thereon and any other
charges, premium, fees, taxes levies or other dues payable by the

R
Borrower to the Bank in terms of this Agreement, the Borrower
III. Clause 4.1 (f)(iii) and Clause 4.1 (f)(iv) of the Home Loan Agreement shall withdraw such excess money within the time period as Bank

E
shall stand substituted by the following respectively: may stipulate for such withdrawal. In case the Borrower fails to
v. Calculated on the actual amount outstanding on each day of the withdraw the said excess funds within the period stipulated by

M
preceding calendar month/quarter/half year/year as stated in the the Bank, the Bank shall be at liberty to set off the dues of the
Schedule after netting of the funds, if any, deposited in the Loan Borrower from the monies deposited into the Account and close
the Loan Account.

O
Account, maintained and operated in terms of Clause 5A.1 Of
this Agreement, before the due date (i.e. the funds deposited and VI. Following section v shall stand added after Clause 8.2 (a)(iv) of the

T
lying in the Loan Account before the due date shall be deducted Home Loan Agreement:

US
from principal amount of the Loan and interest shall be calculated V. Set off the monies/amounts standing to the credit of the Loan
only on the net debit/ledger balance on a daily basis); Account against the dues of the Borrower under this Agreement.
vi. Interest from the date of disbursement till the commencement of
the EMI shall be payable every month as per the P-EMI mentioned

C
in the Schedule, if applicable, to be calculated in accordance with
A to C above.

Signed and delivered by the within named Borrower: Date: ______________________________________

1. ___________________________________________ ___________________________________________
Borrower Name Signature of the Borrower

2. ___________________________________________ ___________________________________________
Co-Borrower Name Signature of the Co-Borrower

3. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

4. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

Signed, and Delivered by the within named Bank, IDFC FIRST Bank Limited through its authorized official.

Authorized Signatory : ______________________________________

Employee Code : __________________________________________

Employee Name : _________________________________________

 30

BOOSTER HOME LOAN (ANNEXURE III) Customer Copy

In case the Borrower has chosen the Booster Home Loan, the terms and conditions
set out in this Annexure III shall be applicable, in addition to the terms and conditions
set out in the Loan Agreement and such other Annexure(s) as may be applicable.

IT IS AGREED AS FOLLOWS:

Incorporation of defined terms:

Unless a contrary indication appears, terms defined in the Home Loan Agreement
shall have the same meaning in this Annexure.

“Principal Moratorium Period” means such period as specified in the Schedule,

which offers the Borrower a principal moratorium for such period from the date of
first drawdown / disbursement of the Loan.

This Annexure and the terms and conditions hereunder shall come into force on the
signing of the same by the Borrower and the Bank. With effect from the date of this
Annexure and for the purposes of this Annexure, the Home Loan Agreement shall
stand amended as follows:

I. Following shall stand added after Clause 5.1.(e) of the Home Loan
Agreement:

5.1 (e) After the expiry of Principal Moratorium Period, by way of EMI as
mentioned in the Schedule, in accordance with the terms hereof.

Signed and delivered by the within named Borrower: Date: ______________________________________

PY
1. ___________________________________________
Borrower Name
O
___________________________________________

C
Signature of the Borrower

2. ___________________________________________
Co-Borrower Name
E R
___________________________________________
Signature of the Co-Borrower

3. ___________________________________________

O M ___________________________________________

T
Co-Borrowers Name Signature of the Co-Borrower

4. ___________________________________________
Co-Borrowers Name

C US ___________________________________________

Signed, and Delivered by the within named Bank, IDFC FIRST Bank Limited through its authorized official.
Signature of the Co-Borrower

Authorized Signatory : ______________________________________

Employee Code : __________________________________________

Employee Name : _________________________________________

 31

(Schedule/key fact statement) Customer Copy

Sr. Particulars
No.
I Date and Place of Execution of
Agreement
II Address of the Branch

III Name and Address of Borrower Constitution:

Individual Sole Proprietorship Company
Partnership HUF LLP Trust Society
Others____________
Name: ______________________________________________
Address: ____________________________________________
___________________________________________________
___________________________________________________
Email: ______________________________________________

Contact: ____________________________________________

Y
IV Name and Address of the Constitution:

P
Co-Borrower Individual Sole Proprietorship Company

O
Partnership HUF LLP Trust Society
Others____________

C
Name: ______________________________________________

R
Address: ____________________________________________

E
___________________________________________________
___________________________________________________

M
Email: ______________________________________________

TO Contact: ____________________________________________

US
Constitution:
Individual Sole Proprietorship Company

C Partnership HUF
Others____________
LLP Trust Society

Name: ______________________________________________
Address: ____________________________________________
___________________________________________________
___________________________________________________
Email: ______________________________________________

Contact: ____________________________________________

Constitution:
Individual Sole Proprietorship Company
Partnership HUF LLP Trust Society
Others____________
Name: ______________________________________________
Address: ____________________________________________
___________________________________________________
___________________________________________________
Email: ______________________________________________

Contact: ____________________________________________

_________________ _________________ _________________

(Borrower) (Co-borrower) (Co-borrower)
 32

V Guarantors 1. Constitution:
c Individual c Company c Partnership c HUF c LLP
c Others
Name: _____________________________________________
Address: ____________________________________________
____________________________________________________
____________________________________________________
Email: ______________________________________________

Contact: _____________________________________________
VI Loan Amount Rs. _____________________________ /- (Rupees __________

_______________________________________________ Only)
VII Purpose of Loan Builder Purchase Resale Plot Purchase Plot Purchase
+ Self Construction Self - Construction Business Expansion
Working Capital Requirement Renovation/House
Improvement Purchase of Office/Shop/Factory Premises
Takeover of running loans Others Balance Transfer + Top
up Top up Purchase Construction Repairs
Renovation Extension

Y
Takeover (Takeover from ____________________________)

P
____________________________________________________

O
____________________________________________________

C
VIII Tenure (Including principal moratorium for __________ months
booster home loans)
IX Pre EMI

E R
M
X Due Date of First EMI

O
Principal Moratorium Period (Applicable

T
XI for booster home loans) / P-EMI period

US
(Applicable for under construction
property)

C
XII External Benchmark Rate (EBR) Period _____________ , Rate _______%
XIII Applicable Rate of Interest *Fixed Interest Rate c
a) Fixed Rate of Interest shall be _______ % p.a.
Interest shall be calculated at (monthly/quarterly/half-yearly/
yearly) rest
b) Applicable tenure for Fixed Rate of Interest:______ months
*Floating Interest Rate c
a) EBR + ________% (Margin) = presently _______%
b) Interest rate reset period will be linked to EBR. Details of
EBR as mentioned in point XII.
XIV SPLIT RATE OF INTEREST Fixed Interest Rate shall be ________p.a. for _______ months
Floating Rate of Interest (p.a.) after completion of fixed tenure/
period
(This would be subject to variation in case of rates on interest
changing during the repayment terms of the loan)
First Date of Review :
Review Frequency (after completion of fixed tenure/period) : as
decided by the Bank/the lender from time to time
XV Step Down EMI EMI decreases after _________ instalments
XVI Step Up EMI EMI increases after _________ instalments

XVII Date of reset of interest The reset date will be 1st day of next month for Short & Sweet
accounts and EMI cycle date for other loans

_________________ _________________ _________________

(Borrower) (Co-borrower) (Co-borrower)
 33

XVIII Additional Interest (plus interest taxes/ 2% per month. Default Interest is levied in case of non-payment of
statutory levies as applicable) the monthly payment. It is charged on the overdue instalment for
the defaulted period.
XIX Mode of communication of changes in Email/Letter
interest rates
XXI Repayment Equated Monthly Instalment
(Applicable for Booster Home Loan and a) EMI Amount: ________________
Under Construction b) No. of EMIs: ________________
Property) c) Payable on ________________
Pre-Equated Monthly Installment
a) P-EMI Amount: _______________
b) No. of P-EMIs: _____________
c) Payable on ________________
XXIV Property (Details of security/ collateral Borrower is required to provide in such form and manner as may
obtained) be stipulated by the Bank.

XXV Date on which annual outstanding

balance statement will be issued (Not
applicable for short and sweet home
loans)

Any service , which is not mentioned above will be charged separately as applicable

PY
O
Notwithstanding anything contained herein above the Bank may in its sole discretion revise the amount of EMI or the period and the

C
periodicity of payment of EMI.

R
Products/Type of charges HOME LOAN
EMI Bounce charges per presentation
Late payment/Penal charges/ Default interest/
M
400
E
2% per month of the unpaid EMI or Rs 300
Overdue (per month)

TO whichever is higher

US
Cheque Swap charges (per swap) 500
1% of the loan amount + interest from date

C
of disbursal till receipt of cancellation request
Cancellation request to be received within
Cancellation & Rebooking charges
30 days or 1st EMI presentation date, post
which cancellation will be treated as
foreclosure
- Nil for floating rate individual and non-individual Loans
- For fixed rate individual and non-individual loans (MOB
Foreclosure / Prepayment charges*
<= 12 months - 4% of principal outstanding & MOB >= 12
months - 3% of principal outstanding exclusive of taxes)
Loan re scheduling charges (per re scheduling) 300
Duplicate No Objection Certificate Issuance Charges 500
Physical Repayment Schedule 500
Physical Statement of Account 500
Document retrieval charges (per retrieval) 500
Stamping Charges As per actuals
Processing fees Up to 1% of Loan Amount
List of Documents 500
- Nil for floating rate individual and non-individual loans.
- For fixed rate individual and non-individual loans 5% oprin-
Part Payment charges cipal outstanding if part payment exceeds 25% in a financial
year exclusive of taxes.

_________________ _________________ _________________

(Borrower) (Co-borrower) (Co-borrower)
 34

EMI Pickup/ Collection Charges 350

*Charges above are exclusive of GST

IDFC FIRST BANK - SCHEDULE OF SERVICE CHARGES (SHORT & SWEET HOME LOANS)
Cash and DD charges Charges in INR (excluding service tax)
Cash Deposit Free Limit 1 lac
Cash deposit -Charge above free limit Rs 3 per 1000
DD payable at Correspondent Bank locations Rs 30 per DD
Cheque Return Cheque deposited – Rs. 50 per cheque
Cheque issued – Rs. 250 per cheque
Debit Card & ATM charges
Annual charges Free
ATM transactions IDFC FIRST Bank Ltd. ATMS Free
ATM transactions Non IDFC FIRST ATMS 5 Txn per month Free Above 5 txn,
(Cash Withdrawal, Balance Enquiry) Balance Enquiry Rs 8 per Txn, Withdrawal Rs 20 Per Txn
Reissuance ( lost or damaged) Free
Cross Country Mark Up for
International transact ions ( POS/ ATM) 2%
Pin Regenerat ion
Payment Services
Free

PY
Intra-Bank Fund Transfer - Branch
Int ra-Bank Fund Transfer - Net -banking
Free
Free
C O
RTGS Payment - Branch
RTGS Payment - Net -banking
Free
Free
E R
NEFT Payment - Branch

O M Free

T
NEFT Payment - Net -banking Free

US
NACH Payment Free
IMPS Free

C
Payable At Par Cheque Issuance Free
DD payable at IDFC FIRST BANK locations Free
DD - Duplicate Issuance Free
DD Cancellation/ revalidation Free
Miscellaneous Services
Account Statement Physical ( Branch/ Channel) Free
Payable at Par Cheque Book Free
Account Closure Free
SMS/ E mail Alerts Free
Phone Banking Free
Net Banking Free
Mobile Banking Free
Standing Instruct ion- Set Up/ Execution/ Amendment Free
Bill Payment - Net Banking Free
Bankers Verification ( Photo/ Signature/ Address) Free
Balance Confirmation Certificate Free
Record Retrieval Free
Interest / TDS Certificate Free
Stop Payment per Instruction Free
Balance Enquiry ( Branch/ Channels) Free

_________________ _________________ _________________

(Borrower) (Co-borrower) (Co-borrower)
 35

Signed and delivered by the within named Borrower: Date: ______________________________________

1. ___________________________________________ ___________________________________________
Borrower Name Signature of the Borrower

2. ___________________________________________ ___________________________________________
Co-Borrower Name Signature of the Co-Borrower

3. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

4. ___________________________________________ ___________________________________________
Co-Borrowers Name Signature of the Co-Borrower

Signed, and Delivered by the within named Bank, IDFC FIRST Bank Limited through its authorized official.

Authorized Signatory : ______________________________________

Employee Code : __________________________________________

Employee Name : _________________________________________

PY
C O
E R
O M
T
C US
 37

IRREVOCABLE POWER OF ATTORNEY

(Stamping/Franking/eSBTR Applicable at actual's as per State laws prevailing from time to time)
Whereas, IDFC FIRST Bank Limited (formerly known as IDFC Bank Limited), a and to do or cause to be done all such acts, deeds, matters and things
company within the meaning of the Companies Act, 2013 and a banking company as may be necessary or proper for the effectual completion and all other
within the meaning of Banking Regulation Act, 1949 having its Registered Office deeds and documents so executed in the Land Registry, Collector and
at KRM Tower, 7th Floor, No. 1, Harrington Road, Chetpet, Chennai - 600 031, other Revenue Authorities as well as the Registrar of Companies or
Tamil Nadu, India and among others, a branch office at the place specified in otherwise howsoever.
annexure hereto (hereinafter called “the Lender” which expression shall, unless it
be repugnant to the subject or context thereof, include its successors and assigns)
has at my/our request sanctioned/granted me/us/our firm/company Home Loan/ 5. To apply for and obtain the consent or permissions of the Society/
Top-Up Loan of the amount as mentioned in the annexure hereto on the terms Condominium/Company and any authority or body [including the
and conditions contained in Home Loan Agreement/Top-Up Loan Agreement Competent Authority under the Urban Land (Ceiling and Regulation)
mentioned in the annexure hereto entered into between me/us and the Lender. Act, 1976] in connection with the mortgage of the Property or giving the
Property on lease/licence/tenancy basis.

And Whereas, the terms and conditions of the said Home Loan Agreement/Top-Up
Loan Agreement require securing due repayment of the aforesaid Home Loan/ 6. To appear on my/our behalf before any Court, Tribunal or authority and
Top-Up Loan together with interest, fees, charges, costs and other expenses and commence, institute, maintain, prosecute or defend any proceedings
all other amounts payable by me/us to the Lender to be secured by such security as relating to or in anywise touching the affairs of the Property.
the Lender may require from time to time including creation of mortgage over the 7. To sign any verify all vakalatnamas, pleadings, documents, memoranda,
property in relation to the said Home Loan Agreement/Top-Up Loan Agreement (as petitions and other papers and to file the same before any Court, Tribunal
more particularly described in the Annexure hereto) (the “Property”). or other authority.

And whereas, in consideration of the Lender having sanctioned the aforesaid Home 8. To state, settle, compromise, submit for arbitration, withdraw, file an appeal
Loan/Top-Up Loan, I/we have created/ agreed to create exclusive/pari passu or other proceedings in respect of any dispute or matter relating to or in
mortgage in favour of the Lender over the Property. anywise touching the affairs of the Property.

And Whereas, I/we have agreed to execute irrevocable Power of Attorney in favour 9. To enforce security in terms of the Memorandum of Deposit of Title Deeds
of the Lender authorising the Lender to do certain acts, deeds, matters and things including taking possession of the said Property and for the said purpose,
in relation to the Property in the manner hereinafter appearing. to do all such acts, deeds, matters and things as may be necessary.

NOW ALL MEN AND THESE PRESENTS WITNESSETH that I/we do hereby 10. AND GENERALLY to do or cause to be done every other act, deed,
nominate, constitute and appoint the Lender as my/our true and lawful attorney for matter or thing which the Lender may deem necessary or expedient for
me / us in my/our name and on my/our behalf and at my/our cost and risk to do, the purpose of or in relation to these presents as well as for the effectual
execute and perform all or any of the following acts, deeds, matters and things to creation of the equitable or any other form or type of mortgage and all other
do that is to say: deeds and documents in favour of the Lender, as fully and effectual as if
1. To make, execute, sign, seal and deliver and cause to be registered in I/we was/were present and had done, executed and performed the same
favour of the Lender at my/our cost and expense (inclusive of all stamp my self/ourselves.
duties, fees and taxes) in all respects:
i. An equitable or any other form or type of mortgage in respect 11. Further, to delegate to the substitute attorney or attorneys so nominated
of the Property, as a security for the Home Loan/Top-Up Loan or appointed by me/us, all or any or some of the powers, authorities
together with interest/commission, further interest by way of hereby conferred on the Lender as my/our Attorney and to revoke any
liquidated damages, costs, charges and expenses and all other such nomination or appointment and to nominate and to appoint another
monies payable by me to the Lender in respect of the Home or others in his/their place, provided that such nomination and appointment
Loan/Top-Up Loan, with all covenants, conditions, declarations, shall not divest Attorney of any of the power granted under the afore
agreements, provisions and stipulations as in the absolute recited Power of Attorney and provided further that the power to nominate
discretion of the Lender be seemed stipulations as in the absolute or appoint substitute under this paragraph shall not be exercisable further
discretion of the Lender be deemed necessary or expedient and by any such substitute or substitutes.
in the form acceptable to the Lender; and
ii. All such other deeds and documents as also the requisite
12. And I/we hereby agree, ratify and confirm all that the Lender may as such
particulars required to be filed with any authority as may be
Attorney lawfully do or cause to be done in relation to and by virtue of these
necessary.
presents.

2. To apply for and obtain the necessary Certificate/Certificates and

13. AND I/WE DO HEREBY DECLARE that this Power of Attorney shall be
permissions under Section 281(1) of the Income Tax Act, 1961 or any
irrevocable till all the dues of the Lender in respect of the Loan including
other applicable law and/or any other certificate that may be necessary
the principal amount thereof together with interests, costs, charges and
and all other deeds and documents and for the purpose of the equitable
expenses and all other monies due and payable thereon are fully and
or any other form or type of mortgage, to appear for and on behalf of me/
finally repaid to the Lender.
us before the concerned authorities and pay and discharge all liabilities if
any and reimburse all such sums so paid or debit such amounts to my/
our account carrying interest at stipulated rates. 14. I/We do hereby agree that all or any of the powers hereby conferred
upon the said Attorney may be exercised by any officer or officers of the
said Attorney nominated in writing by the Lender / any other Constituted
3. To sign and file any applications, statements, declarations and other
Attorney of the said Lender specifically authorized in that behalf.
papers as may be required under the provisions of any law and in
particular, to apply for and obtain necessary permission or consent as may
be necessary for creation of the equitable or any other form or type of The powers vested in the Bank shall be irrevocable and subsist in favour
mortgage and all deeds and documents for the purpose of creating an of the Bank till all my/or dues to the Bank are fully satisfied. The Powers
effective security in favour of the Lender and for the above purpose to conferred herein may be exercised by the Bank in its sole discretion but it
appoint any nominee/agent to appear for and on my/our behalf before the shall not be obligatory for the Bank to exercise such powers.
State Government and/or other authorities and to incur on my/our behalf all
costs, charges and expenses in that behalf as also to engage any solicitor,
advocate, architect, valuer or other person concerned for the purpose and The aforesaid powers or any of them shall be exercised by the Bank
to reimburse any such sums as may have been paid in that behalf and through any of its employees or agents and the Bank may delegate any
claim or debit the said amount to my/our account carrying interest at the or all of the sad powers and authorities to such employee or agent. I/We
stipulated rates. declare that the appointment of the Bank as my/our attorney shall be
irrevocable and binding on my/our legal heirs, executors, successors,
administrators and assigns.
4. To appear before the Registrar and Sub-Registrar of Assurances in
any District or Sub-District appointed to register documents under the
law applicable thereto for the time being in force for the registration of IN WITNESS WHEREOF I/WE HAVE EXECUTED THIS POWER OF ATTORNEY
documents and to present for registration the deed/s and document/s, ON THE DAY MENTIONED IN THE ANNEXURE.
executed by virtue of these presents and also to admit execution thereof
 38

ANNEXURE

Branch Name & Address

Home Loan Agreement dated

Sanctioned Home Loan Amount
Property Details

Signed before me (Notary)

1. ____________________________________ ____________________________________
Borrower Name Signature of the Borrower

2. ____________________________________ ____________________________________
Co-Borrower Name Signature of the Co-Borrower

3. ____________________________________ ____________________________________
Co-Borrower Name Signature of the Co-Borrower

4. ____________________________________ ____________________________________
Co-Borrower Name Signature of the Co-Borrower
 39

MEMORANDUM OF DEPOSIT OF THE TITLE DEEDS

(Stamping/Franking/eSBTR Applicable at actual's as per State laws prevailing from time to time)

Memorandum that on the _________day of ______ ________, 20__

I/We____________________________________________________________________, adult, residing at ________

_________________________________________________________________________________
OR
M/s __________________________________________having office at____________________________ ____
_________________________________________________________________________________ through its
authorised signatory ___________________________________ (hereinafter called “the Mortgagor/s”), has delivered
and deposited at _____________ on __________20__ with IDFC FIRST Bank Limited, (formerly known as “IDFC Bank
Limited”) a company registered under the Companies Act, 2013 and a banking company within the meaning of the
Banking Regulation Act, 1949 and having its registered office at KRM Tower, 7th Floor, No.1 Harrington Road, Chetpet,
Chennai 600 031 and amongst others, a branch at _____________________________________________________
______________________________________________________________________________________________
__________________________ (hereinafter called ”the Bank”) the documents of title mentioned in the Schedule 'A',
hereunder belonging to the Mortgagor/s (“hereinafter called as “the title deeds”), with intent to create security by way
of deposit of title deeds in respect of immovable property/ies, more particularly described in Schedule 'B' (“hereinafter
referred to as “the immovable property/ies”) to secure the due repayment to the Bank of all amounts advanced/to be
advanced by the Bank to ______________________________________________________________ residing at/
having office at ________________________________________________________________________________
_____________________________________________________ (hereinafter called “the Borrower”) to the extent of
Rs. _______________ (Rupees ____________________________________________________________________
_________________________________________________________ only) (hereinafter called ‘the Facility/ies”) vide
Sanction Letter dated _________________ and Loan Agreement dated ________________ (as amended or varied
from time to time) along with interest, modified interest, revised interest, liquidated damages, compound interest, premia
on prepayment, costs, charges, expenses and other monies payable etc., whatsoever.

The Mortgagor/s further declares that the documents deposited with the Bank are the only documents pertaining to the
immovable property/ies that are in his/her/its possession and custody and the immovable property/ies is/are free from
all the encumbrances.

The Mortgagor/s further declares that _______________ is authorised to create the mortgage by deposit of title deeds
as above pursuant to __________________________.

Signed & Delivered by the within named )

Mortgagor/s on _____ day of __________ )
______________________________ )
______________________________ )

In the presence of : )

1. _____________________________ )

2. _____________________________ )
 40

SCHEDULE - A
(LIST OF TITLE DEEDS/ DOCUMENTS)

S. NO Nature of Document Doc No Date Original Xerox

SCHEDULE - A
(DESCRIPTION OF IMMOVABLE PROPERTY)
 41

MEMORANDUM OF MORTGAGE BY CONSTRUCTIVE DELIVERY OF TITLE DEEDS

Memorandum that on the _________day of ______ ________, 20__

I/We____________________________________________________________________, adult, residing at ________

______________________________________________________________________________________________
_________________________________________________________________________________________________

OR

M/s __________________________________________having office at ___________________________________

____________________________________________________________________________________ through its
authorised signatory ___________________________________ (hereinafter called “the Mortgagor/s”), has delivered
and deposited at _____________ on __________ 20 __ with IDFC FIRST Bank Limited, (formerly known as “IDFC
Bank Limited”) a company registered under the Companies Act, 2013 and a banking company within the meaning
of the Banking Regulation Act, 1949 and having its registered office at KRM Tower, 7th Floor, No.1 Harrington Road,
Chetpet, Chennai 600 031 and amongst others, a branch at ____________________________________________
______________________________________________________________________________________________
_________________________________________________ (hereinafter called ”the Bank”) the documents of title
mentioned in the Schedule 'A', hereunder belonging to the Mortgagor/s (“hereinafter called as “the title deeds”), with
intent to create security by way of deposit of title deeds in respect of immovable property/ies, more particularly described
in Schedule 'B' (“hereinafter referred to as “the immovable property/ies”) to secure the due repayment to the
Bank of all amounts advanced/to be advanced by the Bank to ___________________________________________
___________________ residing at/having office at____________________________________________________
___________________________________________________________________________________ (hereinafter
called “the Borrower”) to the extent of Rs. _______________ (Rupees __________________________________
____________________________________________________________________________________________
only) (hereinafter called ‘the Facility/ies”) vide Sanction Letter dated _________________ and Loan Agreement dated
________________ (as amended or varied from time to time) along with interest, modified interest, revised interest,
liquidated damages, compound interest, premia on prepayment, costs, charges, expenses and other monies payable
etc., whatsoever.

The Mortgagor/s further declares that the documents deposited with the Bank are the only documents pertaining to the
immovable property/ies that are in his/her/its possession and custody and the immovable property/ies is/are free from
all the encumbrances.

The Mortgagor/s further declares that __________________________________________________________________

___________________________________________________________ is authorised to create the mortgage by deposit
of title deeds as above pursuant to __________________________.

Signed & Delivered by the within named )

Mortgagor/s on _____ day of ________ )
______________________________ )
______________________________ )

In the presence of : )
1. _____________________________ )

2. _____________________________ )
 43

DECLARATION-CUM-UNDERTAKING
(Stamping/Franking/eSBTR Applicable at actuals as per State laws prevailing from time to time)

I/We a. ______________________________________________ s/o d/o w/o _________________________________

______________________ residing at _______________________________________________________________
____________________________________________________,
b. ______________________________________________ s/o d/o w/o _____________________________________
residing at _____________________________________________________________________________________
_______________________________ do hereby affirm and declare the below: I/We, say that this Declaration is being
made in:

1. My/Our personal capacity as owner(s) of the Scheduled Property as defined hereinafter; or

a. In my capacity as the Proprietor of the Proprietorship firm by the name and style of _________________________
having its principal place of business at ______________________________________________________
________________________________________ _____________________________________________
_________________________________________________________________; or
b. In my/our capacity as partner of M/s ________________________________________________, a
partnership firm registered under the Indian Partnership Act, 1932, having its principal place of business at __
___________________________________________________; __________________________________
______________________________________________________________________ or
c. In my capacity as Karta of ________________________________ HUF representing the HUF and each of
the adult members/coparceners of HUF;
d. In my/our capacity as Authorized Signatory/Directors of _______________________________________
Public/ Private Limited, a company incorporated under Companies Act 1956/2013 and having its registered
office at______________________________________ ______________________________________
_________________________________________________________________________by resolution
passed by the Board of Directors of the Company dated ____________ and the said resolutions are in full
force and effect.
e. In my/our capacity as authorised partner of ________________________________________________, a
Limited Liability Partnership registered under the Limited Liability Partnership Act, 2008, having its principal
place of business at______________________________________________________________________
_____________________________________________________________________ or
f. In my capacity as an Authorised Signatory of ________________________________ a Trust/Society
representing the Trust/Society having its registered office at ______________________________________
______________________________________________________________________________________
_____________________________________________________________________ by resolution passed
by the Trustees /the Members dated ____________ and the said resolutions are in full force and effect.
Hereinafter referred to as “Mortgagor(s)” and I/we are authorized to make this Declaration as follows:

2. I/We declare that IDFC FIRST Bank Limited (“Bank”) has at the request of the Mortgagor(s), granted/agreed to
grant a loan of Rs. ___________________/- (Rupees _______________________________________________
__________only) with Loan Account No. _______________ (“Loan”) to ___________________ (“Borrower(s)”) on
the terms and conditions of the Sanction Letter dated _____________ issued by the Bank to the Borrower and the
Home Loan Agreement dated ____________, entered into between the Bank and the Borrower
3. In consideration of the Bank having granted/agreed to grant the Loan to the Borrower(s), the Mortgagor(s) have
created/agreed to create security over the Scheduled Property, as more specifically detailed in the Schedule I, by
way of deposit of title deeds to secure the Loan along with interests, fees, costs and any other amounts due and
payable under or in relation to the Home Loan Agreement and all other amounts payable by the Borrower(s) and/
or Mortgagors to the Bank.
 44

4. I/We confirm that the Mortgagor(s) is/are absolutely seized and possessed of and otherwise well and sufficiently
entitled to the Scheduled Property as more specifically detailed in Schedule and the Mortgagor(s) have a clear
and marketable title to the Scheduled Property, free from encumbrance and the Mortgagor(s) are in undisturbed
possession and occupation of the Scheduled Property. There are no adverse claims against the Scheduled Property
and the Mortgagor(s) have not received/are aware of any notices/intimations/requisition in respect of the Scheduled
Property.
5. The Scheduled Property is not subject matter of any lis-pendens, attachment or any other process/proceeding
before any court/tribunal that can affect the title of the Mortgagor(s) over the Scheduled Property. Further, there
are no writs/actions, suits or proceedings decided or disposed of or any judgment of any court/tribunal which has
or may have material adverse effect on the Scheduled Property.
6. I/We hereby declare that the Mortgagor(s) have not executed any power of attorney in favour of any person(s) nor
otherwise authorized any other person(s) to deal with the Scheduled Property. I/We also undertake that no such
power of attorney will be given to any person(s), other than the Bank, till the Scheduled Property is held as security
by the Bank.
7. I/We also confirm that the title deeds and documents as detailed in Schedule II are the only documents pertaining
to the Scheduled Property and in future, if any further title deeds or other documents come into existence/effect,
the same shall be submitted with the Bank within such time as may be required by the Bank.
8. I/We also confirm that the title deeds and documents as detailed in Schedule II have not, at any time, been
deposited with any other person.
9. I/We declare and undertake that the Mortgagor(s) shall not (without written approval) seeks or attempt to further
mortgage or charge or seek or attempt to sell, lease, sub-lease, give on leave and license, transfer, or create
any third party rights over the Scheduled Property or otherwise deal with the Scheduled Property in a manner
prejudicial to interests of the Bank.
10. I/We declare that there is nothing in law or otherwise that prevents the Mortgagor(s) from creating the mortgage
in favour of the Bank and the Mortgagor(s) have already obtained the requisite permissions for creation of such
security from Society/association/builders and other authorities for mortgaging the Scheduled Property in favour
of the Bank. There is no prohibitory order either from the Income Tax authority or from any revenue authority for
mortgage/and or transfer of the Scheduled Property.
11. I/We confirm that the building is in line with the approved plans and all necessary approvals for construction have
been obtained.
12. I/We confirm that the Mortgagor(s) have paid all the requisite duties, taxes, cesses, assessments, revenues,
society charges and all other demands and outgoing in relation to the Scheduled Property and currently there are
no arrears/outstanding dues in relation to the Scheduled Property. No attachments/warrant has been served on the
Mortgagor(s) in respect of any Sales Tax, Income Tax, Government Revenues, or other Taxes.
13. I/We hereby undertake to file the Notice of Intimation for the mortgage with the concerned Registrar or any other
authority as required by applicable laws and the Bank.
14. I/We declare that on the basis of the aforesaid statements, assurances and declarations made herein, the Bank
has agreed to accept the Scheduled Property as security by way of deposit of title deeds and documents and I/We
hereby undertakes and agrees to indemnify and keep indemnified the Bank and its assigns against all actions,
suits, costs, charges, expenses, proceedings and damages and that may be suffered and/or incurred by the said
transferees, if any of the statement made hereinabove are to be untrue and/or false.
15. I/We hereby state/s that whatever statements made hereinabove are true to their own knowledge, information and
behalf and have been made on their own free will and they believe the same to be true.
16. I/We hereby confirm and undertake that in case the Borrower(s) and/or Mortgagor(s) default in making any
repayments of the Loan instalments or other amount due in relation to the Loan, the Bank will be at complete liberty
to sell, transfer or otherwise dispose of the Scheduled Property in any manner it deems fit and I/we will hand over
the possession of the Scheduled Property without any demur or protest for the same.
17. I/We understand that the Bank has granted/has agreed to continue to give the Loan on the faith and assurances
that are provided hereinabove.
 45

Schedule I
Description of Scheduled Property

Schedule II
List of Title Deeds/Documents in relation to the Scheduled Property Deposited with
“IDFC FIRST Bank Limited”

SR. NO. TITLE DOCUMENTS DEPOSITED

1.
2.
3.
4.
5.
6.

For Mortgagor(s) :

1. ____________________________________ ____________________________________
Borrower Name Signature of the Borrower

2. ____________________________________ ____________________________________
Co-Borrower Name Signature of the Co-Borrower

3. ____________________________________ ____________________________________
Co-Borrower Name Signature of the Co-Borrower

4. ____________________________________ ____________________________________
Co-Borrower Name Signature of the Co-Borrower

Witnessed by :

1. ____________________________________ ____________________________________
Name Signature
 47

DECLARATION-CUM-UNDERTAKING-READY TO OCCUPY PROPERTIES

(Stamping/Franking/eSBTR Applicable at actuals as per State laws prevailing from time to time)

I/We, (i) Mr./Ms. ____________________________________________________________________________ son/

daughter/wife of Mr. ____________________________ aged ________ years residing at ____________________
_____________________________________________________________________________________________
_____________________________________________________________________________________________
_______________________ and (ii) Mr. /Ms. _____________________________________ son/daughter/wife of Mr.
___________________________ aged ________ years residing at _______________________________________
______________________________________________________________________________________________
_____________________________________________________________________________________________.

I/We have been sanctioned home loan of Rs. ______________ /- (Rupees __________________________________
___________________________________________________________ Only) by IDFC FIRST Bank Limited
a company registered under the Companies Act, 2013 and a banking company within the meaning of the Banking
Regulation Act, 1949 and having its registered office at KRM Tower, 7th Floor, No. 1, Harrington Road, Chetpet, Chennai
- 600 031, Tamil Nadu, India and amongst others, a branch at _____________________________________________
_____________________________________________ (hereinafter referred to as “the Bank”, which expression shall,
unless it be repugnant to the subject or context thereof, include its successors and assigns) and entered into Home
Loan Agreement dated ____________ with the Bank for the purpose of purchase of an existing house / an existing flat/
flat under construction (strike out whichever is inapplicable) situated at _____________________________________
____________________________________________________________ (the Property).

I/We solemnly affirm and state that –

i. Necessary permissions for the construction of the Property have been obtained and I/we have personally
verified the original sanctioned plan (the copy of which is annexed herewith).
ii. Completion certificate issued by the competent authority in respect of the building is obtained, the certified
true copy of which is annexed herewith (strike out if inapplicable).
iii. The Property is located in the category of authorized colonies.

I/We declare that whatever I/We have stated hereinabove is true and correct to the best of my / our knowledge and belief.

Solemnly affirmed at _________________________ on this _____________________ day _________ of _______

1. ____________________________________ ____________________________________
Borrower Name Signature of the Borrower

2. ____________________________________ ____________________________________
Co-Borrower Name Signature of the Co-Borrower

3. ____________________________________ ____________________________________
Co-Borrower Name Signature of the Co-Borrower

4. ____________________________________ ____________________________________
Co-Borrower Name Signature of the Co-Borrower
 49

IDFC FIRST BANK LTD

DISBURSAL REQUEST FORM

To,
The Manager
IDFC FIRST Bank Limited,
________________ Branch

Customer Name/s

Loan / Application Reference Number

Disbursement Amount

Disbursal Part disbursal

(Tick as applicable)
Full disbursal

For part disbursal case-Stage of disbursement (Tick as applicable)

First disbursement

Subsequent disbursement

Final disbursement

1. I/ We hereby request the disbursement of the loan be made by way of:

Cheque  Demand Draft 
Electronic Fund Transfer to Developers*/Sellers*/Applicant/ Co Applicant Bank Account 
I/We hereby request you to prepare Cheque/DD/transfer instruction for (Net Disbursement Amount) Rs.
In favour of ___________________________________________________________________________
(Builder/Seller/Co-operative society/Financial institution/Bank/Applicant or Co-applicant)
Bank A/c Number ______________________________________________________________________
Bank Name ______________________________________________________________________
IFS code (in case of direct credit to Developer/Sellers account) __________________________________
Branch Name _________________________________________________________________________
Payable at Location ____________________________________________________________________

2. I/ We hereby request the disbursement of the loan be made by way of:

Cheque  Demand Draft 
Electronic Fund Transfer to Developers*/Sellers*/Applicant/ Co Applicant Bank Account 
I/We hereby request you to prepare Cheque/DD/transfer instruction for (Net Disbursement Amount) Rs.
In favour of ___________________________________________________________________________
(Builder/Seller/Co-operative society/Financial institution/Bank/Applicant or Co-applicant)
Bank A/c Number ______________________________________________________________________
Bank Name ______________________________________________________________________
 50

IFS code (in case of direct credit to Developer/Sellers account) __________________________________

Branch Name _________________________________________________________________________
Payable at Location ____________________________________________________________________

*Fund transfer includes disbursement payment via. NEFT/RTGS or to IDFC FIRST account

Terms & conditions:

1. I/We authorize IDFC FIRST Bank to carry out the fund transfer transaction as per details mentioned
above.
2. I/we hereby agree that aforesaid details including IFSC Code, beneficiary account number&
beneficiary name are true and correct.
3. I/we further acknowledge that IDFC FIRST Bank accepts no liability for any consequences arising
out of erroneous details provided by me/us.
4. NEFT/RTGS request is subject to RBI guidelines.
5. I/we hereby agree to disburse the disbursement amount subject to deduction of Processing fees/
Insurance Charges/PRE- EMI & other charges, if any.
6. IDFC FIRST Bank shall be well within its rights to initiate any action including but not limited to the
right to cancel/reject the disbursement/loan or call back the loan, as the case may be. All/any
disbursement shall be at the sole option of IDFC FIRST Bank.

Yours sincerely,
Sr. No. Borrower/Co- Borrower Name Borrower/Co- Borrower Signature
1.

2.

3.

4.

Date
DD MM Y Y YY

Place: _________________________________
 51

CHEQUE SUBMISSION FORM (CSF)

Applicant Name: __________________________________________________________

Application Reference No.: __________________________________________________

IMPORTANT INSTRUCTIONS
• Cheque should be crossed as “Account Payee Only”
• The cheque should be drawn in favour of “IDFC FIRST Bank Limited” only
• IDFC FIRST Bank Limited does not take responsibility for cheques left blank or drawn in favour of any name other
than IDFC FIRST Bank Limited
• Please ensure that all corrections have been countersigned

_________________
Sr. Cheque Numbers No. of Dates of Cheque Bank & Purpose Amount
No. Cheques Branch (EMI/ of each

(Borrower)
Security) cheque
From To From To

_________________
(Co-borrower)
I declare that I have not given any cheques to the Bank other than the ones metioned above and all cheques are drawn
in favour of “The Bank”.

Applicant’s Name:______________________________________ Applicant’s Signature: ________________

Authorised Signatory of the Bank:__________________________________________________

Date:____________________

Acknowledgement of cheque submitted to IDFC FIRST Bank Limited

Sr. Cheque Numbers No. of Dates of Cheque Bank & Purpose Amount
No. Cheques Branch (EMI/ of Each
Security) cheque
_________________

From To From To
(Co-borrower)

I declare that, I have not given any Cheques to the Bank, other than the ones mentioned above and all cheques are
drawn in favour of “The Bank”.
Applicant’s Name:_______________________________ Applicant’s Signature:____________________________
Authorised Signatory of the Bank:____________________________________________
Date:____________________

_________________ _________________ _________________

(Borrower) (Co-borrower) (Co-borrower)
 53

DIRECT DEBIT MANDATE FORM

To,
The Manager
IDFC FIRST Bank Limited,
______________________________ Branch

Ref: ______________________________________________________________________________________

I/We hereby authorise you to debit my/our account for making payment to IDFC FIRST Bank Limited through the direct
debit clearing as per the details mentioned herein under. I/We authorise IDFC FIRST Bank Limited to raise demands
from me/us till all my/our dues to IDFC FIRST Bank Limited as referred herein are cleared through the direct debit from
my/our account.

I/We unconditionally consent and authorise IDFC FIRST Bank Limited to raise debits for such amounts as may be
calculated by IDFC FIRST Bank Limited from time to time. However, the debits of such amount shall not exceed Rs.
_______________/- (Rupees ________________________________________________ only) per month.

I undertake to maintain sufficient balances to cover the Loan Repayment Dues (and charges,if any) on the stipulated
due dates. I also understand that the failure to repay my loan amount through this instruction shall be treated as a
default in repayment of dues and all charges/penalties/levies as covered by the agreement will hold good towards the
non-payment of obligations.

Please treat this as an irrevocable communication as an authorization to debit my account every month with the required
amounts towards the repayment of my loan.

In the event of the above account getting closed/transferred for any reason, I/We will intimate to the Bank the new
account opened with the bank to debit the Loan Repayment amounts as per the agreement. Further I/WE undertake
the responsibility to provide the fresh set of Mandate and security PDC's for such new account, as per terms of the
agreement in lieu of existing instructions.

I /We also understand and accept that the Bank will have the right to set-off, without prior intimations to me, the available
balances in the designated account for recovery of overdue installments and/or charges(if any) in the loan account.

I/We declare that the particulars given herein are correct and complete. If any direct debit transaction is delayed or not
effected for reasons of incomplete or incorrect information, I/we shall not hold you responsible. I/We authorise you to
debit my/our account towards such charges as may be determined by you for the service of direct debit.

I/We authorise IDFC FIRST Bank Limited and their representatives, agents, service providers etc. to get this form
verified and acknowledged from your Bank.

NAME OF ACCOUNT HOLDER(S) ________________________________________________________

ACCOUNT NUMBER ________________________________________________________

ACCOUNT TYPE ________________________________________________________

LOAN ACCOUNT NUMBER ________________________________________________________

DATE OF EFFECT ________________________________________________________

 54

Periodicity
Loan Type and
(Monthly/Quarterly/As Amount of Upper Limit) Valid Up to Date of Period
Details
& When Presented)
As & When
As & When Presented Until Cancelled
Presented

SIGNATURE OF ACCOUNT HOLDER (1) SIGNATURE OF ACCOUNT HOLDER (2)

Place ____________________ Place ____________________

Date Date
DD MM Y Y YY DD MM Y Y YY

We hereby certify that the particulars and signature(s) furnished above are as per our records.
Date
DD MM Y Y YY

Bank Stamp and Signature of Authorised Official

 ENROLMENT FORM FOR GROUP INSURANCE POLICY

1. Loan Application No:

2. Name of the Applicant:

3. Gender:
Male
Female 4. Date of birth: ___/____/_______

5. Marital status:
Married
Single
Widow
Divorced 6. Occupation:
Service
Self Employed
Others:________

7. Do you suffer from any pre-existing infirmity/ injury/ disability?
YES
NO

8. Name of the Co- Applicant 1:

9. Gender:
Male
Female 10. Date of birth: ___/____/_______

11. Name of the Co- Applicant 2:

12. Gender:
Male
Female 13. Date of birth: ___/____/_______

14. Nominee Details

Name Date of Birth Relationship with Insured

15. Address of the Property to be insured:

State Pin code

Telephone no Mobile no

Email id

16. Communication Address:

State Pin code

Telephone no Mobile no

Email id

17. Risk Description:

RESIDENTIAL (COMPLETED DWELLINGS)
COMMERCIAL (COMPLETED- STRUCTURE)
INDUSTRIAL(COMPLETED – STRUCTURE)

If yes then please mention type of Occupancy –

___________________________________

Conditions: Conditions: Conditions:

Only Building structure coverage for maximum 10 years Building structure coverage for maximum 1 year only Building structure coverage for maximum 1 year only

Content is covered for Dwellings (40% of the SI subject Content coverage not available Content coverage not available
to max 1 Cr.)
Personal Accident coverage not available

Page 1 of 2
 18. Loan Details:

Loan Amount:_______________________________________ Loan Tenure: ___________ Years

19. Coverage Details:

FIRE/STUCTURE INSURANCE Fire Sum Insured: _________________________ Content Sum Insured : ________________________

Fire Cover Tenure: __________________________________

Period of Coverage:

Sum Insured for Building

From D D M M Y Y Y Y To D D M M Y Y Y Y
and Contents

Contents Sum Insured: 40% of Fire (Structure) Sum Insured subject to max 1 Cr.

Cover Tenure: 1 year

BURGLARY & HOUSE BREAKING

INSURANCE Burglary Sum Insured: _________________________

Sum Insured for Burglary & Contents: 40% of Structure Sum Insured subject to max 1 Cr.
Housebreaking
Cover Tenure: 1 year

PERSONAL ACCIDENT
Personal Accident Sum Insured: _________________________
PA Covered YES
(Tick Yes/No) Applicant: Outstanding Loan Amount subject to max 10 Cr. Cover Tenure: 1 year
NO

NOTE : Personal Accident coverage includes Death due to accident or Permanent Total Disability due to accident.

20. Premium Amount including Service Tax: _____________________________________

Please fill up the request for authorization form attached with this Enrolment form to receive Claim/ Refund payments if any, directly into your bank
account through NEFT if the premium paid is more than Rs 25000/-

DECLARATIONS:

1. I/We hereby declare and warrant that the above statements are true and complete in all respects and that there is no other information which
is relevant to my application for insurance that has not been disclosed to you. I agree that this form and the declaration shall be the basis of the
contract between me and FUTURE GENERALI INDIA INSURANCE CO LTD and I/We agree to accept a policy, subject to the conditions prescribed by
FUTURE GENERALI INDIA INSURANCE CO LTD
2. I hereby apply to be covered under the Group Insurance policy.
I/ We hereby allocate the claim amount receivable by me or on behalf of me towards the outstanding loan amount and agree any claim payment made
on my behalf to the Financing Company as full and final discharge under the policy.
3. I agree that this form and the declaration shall be the basis of the contract between me and FUTURE GENERALI INDIA INSURANCE CO LTD and I/We
agree to accept a policy, subject to the conditions prescribed by FUTURE GENERALI INDIA INSURANCE CO LTD
4. I/ We hereby declare that the premium for the said policy is paid out of the legally declared and assessed sources of my/ our income OR
5. I/ We hereby declare that the premium is paid from the Bank Account of Mr. /Ms. _________________________, the payment is allowed under the
Income Tax Act 1961, and there is insurable interest with the payee.
6. I/we am/are (please tick all that are applicable)
High Net Worth Individual/s Non Residential Indian/s Politically Exposed Person/s Jeweller/s Non Governmental Organization Producer/s
Film Actor/s
7. I agree that disbursement of loan amount shall be the basis of the risk cover and in case if it is not disbursed for any reasons , the risk
covered shall automatically stands cancelled ab initio.

The company reserves the right to reject the said proposal or to terminate the insurance contract unilaterally and/or freeze the funds if the
Customer, or persons associated with him/her, found to be named in any recognized black list.

Date: ___________________________

Place: __________________________ Signature of the Proposer:_____________________________

GSTIN: __________________________ (If more than one GSTIN, kindly attach an annexure with details)

SECTION 41. OF INSURANCE ACT, 1938-PROHIBITION OF REBATES:

No person shall allow or offer to allow either directly or indirectly as an inducement to any person to take out or renew or continue an insurance in
respect of any kind of risk relating to lives or property in India, any rebate of whole or part of the commission payable or any rebate of the premium
shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate except such rebate as may be allowed in
accordance with the published prospectuses or tables of the Insurer. Any person making default in complying with the provisions of this section shall
be liable for a penalty which may extend to Ten Lakh Rupees.

Future Generali India Insurance Company Limited, IRDAI Regn. No. 132 | CIN: U66030MH2006PLC165287
Regd. and Corp. Office: 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S. Marg, Vikhroli (W), Mumbai – 400083
Call us at: 1800-220-233 / 1860-500-3333 / 022-67837800 | Website: https://general.futuregenerali.in | Email: [email protected]

PRFCFG01_Ver_08
Page 2 of 2
 MEMBER ENROLLMENT FORM – SMQ
REGULATED ENTITY
[IMPORTANT NOTE: Any cancellation and alteration must be countersigned by Life to be Insured.
Please do not sign blank Proposal form]
Plan:  HDFC Group Term  HDFC Life Group Credit  HDFC Life Group Credit Protect Plus
Insurance Plan Protect
Option: N.A.  Accelerated Critical Illness  Life Option Extra Life Option Terminal Life Option
 Accidental Death Benefit  Critical Life Option 1 Critical Life Option 2  Life Disability Option

Sum Assured (INR)_________________ Premium (INR)______________ Policy Term (yrs)  Moratorium Period (yrs) 

Main benefit:_________________ Interest Rate: %

level / decreasing for decreasing option

Particulars of Life Assured: Mr/Mrs. ______________________________________________________________________________________________________________

Address: ___________________________________________________________________________________________________________
Date of Birth/Age(yrs): dd/mm/yyyy /____ Gender: M /F/Tg Loan Account No. ____________________ Loan Type_________________

Nominee / Appointee Details:

Name Date of Birth Gender Contact No. Relationship to
Nominee: dd/mm/yyyy Life Assured
Appointee: dd/mm/yyyy Nominee if nominee is below 18 yrs of age

HEALTH DETAILS OF LIFE TO BE ASSURED:

Yes No
1 Have you ever suffered or are currently suffering from: (a) Chest Pain or heart attack or any other heart disease (b) Cancer, tumor, growth or  
cyst of any kind (c) Stroke, paralysis, Epilepsy, any psychiatric / mental disorder , disorder of brain/nervous system or any kind of physical
disabilities (d)Asthma, Tuberculosis or other lung disorder (e) Diseases or disorder of muscles, bones or joints, arthritis or blood
disorder(anemia) or any endocrine disorder (f) Diseases of the kidney, digestive system(stomach, pancreas, gall bladder, intestine)
2 During the last 5 years have you undergone any major surgery or been hospitalized for more than one week?  
3 Do you take part in any adventurous sports or hobbies? (like paragliding, mountaineering, deep sea diving , motor racing, bungee jumping,  
etc.)
4 Do you smoke more than 10 cigarettes a day?  
5 Has more than one of your parents and siblings died before the age of 60 years as a result of heart attack, stroke, cancer, diabetes, HIV?  
6 Are you taking any medication or has a doctor ever attended to you for any conditions, diseases or impairment not mentioned above (except  
for cough or cold)?
7 For Female Lives: (a) Are you presently pregnant? (b) Do you have a history in the past of an abortion, miscarriage or caesarian section due to  
complications during pregnancy or due to any other cause? (c) Have you given birth to a child with any congenital disorder such as Down
Syndrome, congenital heart disease, etc? (d) Have you ever had any disease of breast, uterus, cervix, ovaries or any other part of the
reproductive system?
8 Have you ever been declined, deferred, and accepted at special terms, had cover reduced or had exclusion imposed for any life, health or  
accident insurance cover?
9 Do you have any history of conviction under any criminal proceedings in India or abroad?  
Date & Place:_____________ Signature/Thumb impression of the Insured Member ______________________________________
I understand, agree and confirm that these statements and this declaration are basis of the contract between the insurer and the policyholder. If any untrue statement
are contained herein or there has been any non disclosure of any material fact, the policy to be issued by the insurer in the name of the policyholder may be treated
as void as far as I am concerned.
I confirm that I have read and understood, the rules and any additional rules of the plan, the standard Policy provisions and any additional provisions that govern
the policy to be issued by insurer in the name of the policyholder and on my life, and I agree and confirm that the same shall be binding on me. I authorise the
policyholder to disclose to the insurer such particulars as they may require including the details given above and any changes to the same, pay the premium
payable on my behalf /collected from me to the Insurer. I understand that any statutory levy or charges including any indirect tax may be charged to me either now
or in future by the insurer and I agree to pay the same. I understand that HDFC SLIC has the right to reject a proposal without giving reasons thereto and client to
give an undertaking thereof that he shall not raise any claims thereof. I understand the significance of the contract and the contract will be governed by the
provisions of the Insurance Act 1938 as amended from time to time and that the same will not commence until written acceptance of this application by Insurer
issue on its normal terms and conditions is received.

PAYMENT AUTHORISATION
I do hereby declare that I have received a loan from M/s ______________________________________________________ (“Master Policyholder”). In
order to secure the said loan I have taken the above referenced policy from HDFC Standard Life Insurance Company Limited (“HDFC Life”). In
consideration of receiving the said loan I hereby authorize HDFC Life to make payment of Outstanding Loan Balance amount to Master Policyholder by
deducting from the claim proceeds payable on happening of the contingent event covered by the Group Life Insurance Scheme/ Policy referenced above.

Signature/Thumb impression of Witness* Signature / Thumb Impression of the Insured Member

Name & Address_____________________________________
Occupation_____________________________ Date & Place: ________________
* Witness Signature, Address and Occupation is along with signature of Insured Member
Declaration to be made by a 3rd person where: a) The insured member has affixed his/her thumb impression; OR b) The insured member has signed in
vernacular; OR c) The insured member has not filled the application.
I hereby declare that I have explained the contents of this application form to the insured member in ____________language and have truthfully recorded the
answers provided to me. I further declare that the insured member has signed/affixed his/ her thumb impression in my presence.

Name and address of Declarant__________________ Signature of the Declarant _____________________________

Declaration made by life to be assured: I hereby declare that the content of the form and document has been fully explained to me and I have fully understood
the significance of the proposed contract.

Signature/Thumb impression of life to be assured

 Enrolment Form - Group Credit Secure Plus

Intermediary Code: Master Policy Reference No.

Loan A/C No.
This is an application for Insurance & will form the basis of the policy certificate that We may issue. Every information, this application seeks is important
& mandatory. Please read all questions and answer them carefully. You must provide complete and correct information. Incomplete/incorrect/partially
correct information may lead to cancellation of proposal and policy certificate even if it is issued. We are under no obligation to accept any proposal for
insurance. If We accept a proposal for insurance, it shall be subject to the Policy terms and conditions and We shall have no liability to make any payment
under the Policy if proposal is not accepted by us or premium is not received by Us in full and in time, or non-fulfillments of additional information
requested by us, if any or if the proposal is under-process & claim arises in the interim period before the decision on the proposal is given by us.
Commencement of risk cover under the policy is subject to receipt of premium by Tata AIG General Insurance Company Limited.
Please fill-up this form in CAPITAL LETTERS
1. PROPOSER'S INFORMATION

Name: First Name Middle Name Last Name

(Mr/Mrs/Ms)

Date of birth: D D M M Y Y Y Y Gender: M F Nationality:

Occupation: Salaried Self-employed Others (please specify)

Address for communication:

District: City: State: Pin code:

Enrolment Form- Group Credit Secure Plus UIN: TATHLGP18051V011718

Insured Property Address (only in case of cover for Standard Fire and Special perils) :

District: City: State: Pin code:

Tel (O): Mobile: Email Id:

Premium (including Taxes) Unique id no. (Aadhaar no.):

PAN (in case of premium > ` 50, 000) GSTIN No.

Loan amount: Type of Loan: Loan tenure:

Policy tenure (Years): 1 2 3 4 5 Sum insured (same as loan amount & max. upto `5 Crores):

Sum Insured Type #: Fixed Reducing

applicable only for coverage of critical illness and/or personal accident benefit
#

Optional Cover Details:

Cover Opted Limits

Do you want the co-applicant to be part of Group Credit Secure Plus? Yes No
Note: In case of co-applicants, sum insured would be apportioned equally among members
2. INSURED PERSON'S DETAILS

Sr.No Name of the Insured persons Relationship with Proposer Date of birth Occupation Gender Nationality Unique Id no.

3. NOMINEE DETAILS
I understand that this policy is assigned to the Bank/ financial/lending institutions.
Nominee Name Relationship with the Proposer
In the event of the death of the Proposer any payment due under the Policy shall become payable to the nominee in accordance with the Policy terms and
conditions. Nominee for any of the persons proposed to be insured shall be the Proposer. The nominee must be an immediate relative of the Proposer. The
nominee for all other Insured Persons proposed to be insured shall be the Proposer himself/herself.
 61

AUTHORISATION LETTER (SECURITY CREATION)

To, Date: _______________

The Manager
IDFC FIRST Bank Limited,
______________________________ Branch

Dear Sir,

Ref: Title documents for the property situated at _______________________________________________________

_________________________________________________________________________________________________
_____________________________ (the “Property”) deposited with _______________________________________
____________________________________________ (name of previous financer)

I/We, irrevocable authorise IDFC FIRST Bank Limited as my/our authorised representative to collect all the title
documents (original or photocopies) pertaining to the Property from _________________________________________
________________________________________ (name of previous financer) (“Previous Financer”) on my/our behalf. I/
We further authorise IDFC FIRST Bank Limited to collect no-dues certificate from the Previous Financer towards my/our
outstanding dues to the Previous Financer.

I/We declare that the Property is not cross collateralised for any other debt/loan due to the Previous Financer and that
the Property is offered as security to the Previous Financer only against Loan Account No. __________________
maintained with the Previous Financer.

I/We undertake that I/we am/are solely responsible for depositing the title deeds of the Property proposed to be taken
as security with IDFC FIRST Bank Limited in case the Previous Financer refuses/fails to hand over the same to IDFC
FIRST Bank Limited

Yours faithfully,

1. ____________________________________ ____________________________________
Borrower Name Signature of the Borrower

2. ____________________________________ ____________________________________
Co-Borrower Name Signature of the Co-Borrower

3. ____________________________________ ____________________________________
Co-Borrower Name Signature of the Co-Borrower

4. ____________________________________ ____________________________________
Co-Borrower Name Signature of the Co-Borrower
 63

AUTHORISATION LETTER (BALANCE TRANSFER)

Date:
To,

____________________
____________________
____________________

Sub:-Original Property Document of _________________ Property at ________________________ ____________

_________________________________________________________________________________________________

Dear Sir,
We hereby acknowledge and authorize Mr._________________________________ (PAN No:_________________)
person from _______________________ associates of IDFC FIRST Bank Ltd to collect the Original Property
Documents of _____________________ which are currently held with you.

Request you to hand over the above mentioned Documents to Mr.__________________ whose specimen signature is
appended below and Identity proof attached herewith.

Thanking you in anticipation for your kind co-operation.

IDFC FIRST Bank Ltd. Specimen signature

Authorize Signatory.

________________

Signature of authorised Person

 65

JOINT LETTER FOR TAKEOVER (BALANCE TRANSFER)

Date ________________
To,
__________________
__________________

Dear Sirs,

Kind Attention: Mr. ___________________

We have availed financial facilities from your Bank and as a security for the repayment of the said facilities; you have
first charge on our property

We are proposing to avail financial facilities from IDFC FIRST Bank Limited against the security of our immoveable
property (ies) being:
_____________________________________________________________________________________________
_____________________________________________________________________________________________
being the first and exclusive charge thereon for the due repayment of the financial facilities granted by IDFC FIRST Bank
Limited.

In furtherance of the above, we intend to make a settlement of all amounts due to you under the financial facility.

We hereby request you to kindly confirm to us that on receipt of all amounts payable by us to you against the said
financial facilities with you, you will:

a) release your charge created on the immovable property(ies) described above; and
b) handover all originals title documents of the property mortgaged to you to IDFC FIRST Bank Limited
c) issue a No Due Certificate to us.
d) release any assignment/Lien on insurance policy (if any)

You are further requested to provide us with the statement of accounts which should include all amounts due to you.

Kindly confirm the above at the earliest.

Thanking you,

Yours faithfully, We Confirm

For IDFC FIRST Bank Limited

(Borrower / Co-borrower / Property Owner) (Signatory Name & employee Code)

We Confirm and Accept
For ___________Bank
 67

BORROWER INDEMNITY (BALANCE TRANSFER)

To, Date: _______________

The Manager
IDFC FIRST Bank Limited,
______________________________ Branch

Dear Sir,

Sub: Declaration to IDFC FIRST Bank Ltd., (“IDFC”) for confirming outstanding loan amount, loan tenure
and any additional documents not mentioned in the List of documents (LOD) submitted to IDFC.

I/We, ____________________________________________________________________________________
____________, at present residing at __________________________________________________________
_______________________________________________________________________________________
_______________________do hereby solemnly declare and state as follows:

At my/our request, IDFC has sanctioned a facility of take-over of my/our Home Loan *and TOP UP loan/Loan against
Property (“the said facility/ies”) availed by me/us from ________________________________________________
______ <Specify name> of the Bank/Financial Institution> (“the said Bank”) against a Property being a flat bearing
No. _____________ situated at _________________________________________________________________
_________________________________________________________________________________ (hereinafter
referred to as the “Property”) aggregating to INR _____________________

I/We state and confirm that Loan Account Number/s of my/our Home Loan *and/ TOP UP loan is/are
_____________________, and ____________________ respectively (“LAN”).

I/We further state and confirm that the details of the Borrower and Co-Borrower of the said facility sanctioned by the
said Bank are as under:

That the amount to be paid for repaying the outstanding balance of the above mentioned loan/s /LAN/s to the said
Bank is Rs.________________ /- (Rupees ________________________________ only).

The outstanding tenure of the above mentioned loan/s /LAN/s from the said Bank is _____________ months.

The list of documents submitted by me/ us confirms all the documents submitted/deposited by me/us with the said
bank for the above mentioned loan/s /LAN/s.

Following documents mentioned in the List of documents had been subsequently withdrawn by me/us and are in my/
our possession and the same will be submitted to IDFC prior to exchange

Sr. No. List of Documents Reason for withdrawal from the Bank

I/We further state and declare that from the List of documents, the following documents are submitted with the
said Bank in original, as the same is not specifically mentioned in the LOD.
a._________________________________________________________________________________
b._________________________________________________________________________________
 68

The following documents relating to the property, which are not mentioned in the List of documents, are in my/our
custody and shall be submitted by me/ us to IDFC prior to exchange.

a. __________________________________________
b. __________________________________________

i/we hereby further state and confirm that relying on the said representation, IDFC has acceded to my/our request
to consider the Property as a security to the take-over facility/ies sanctioned by the said Bank.

The details of the documents/title deeds of the Property are as under:

Document Description Original/Copy Available with Borrower / the said Bank

We hereby also undertake and confirm that we shall submit all original transfer documents listed
in the List of documents issued by the said Bank directly to IDFC within ____________ days
and to intimate IDFC and take prior approval before executing any Deed or dealing in any way
with the Property.

I/We hereby represent and undertake to indemnify and keep indemnified and hold harmless
IDFC and IDFC’s directors, officers, employees, agents and attorneys against any and all ac-
tions, proceedings filed, claims, damages, liabilities, expenses and the like to which IDFC may
become subject to arising out of the aforementioned representation.

I/We further state and confirm that the above statements are true and correct to the best of
knowledge and belief and nothing material has been concealed.

Thanking You,

Yours faithfully,

1. ____________________________________ ____________________________________
Borrower Name Signature of the Borrower

2. ____________________________________ ____________________________________
Co-Borrower Name Signature of the Co-Borrower

3. ____________________________________ ____________________________________
Co-Borrower Name Signature of the Co-Borrower

4. ____________________________________ ____________________________________
Co-Borrower Name Signature of the Co-Borrower

Date
DD MM Y Y YY
 69

DEBIT CARD APPLICATION

ATM/DEBIT CARD
Do you need an ATM/Debit Card Yes No Do you wish you Debit Card to be enabled for international use? Yes No
You may fill in how you would like your name to appear on your Debit Card (if different from the name on your account)

WOULD YOU LIKE TO CHOOSE A NOMINEED RO THE ACCOUNT?

(Nomination under Section 45 ZA of the Banking Regulations Act. 1949 and Rule 2(1) of the Banking Companies (Nomation) Rule, 1985 in Respect
to Bank Account.)
The Nominee of Guardian (if applicable) cannot be a holder on the accnount.
Yes, I want to nominate the following person to whom in the event of my/our/minor's death the amount of deposit in account may
be returned by IDFC FIRST Bank Ltd.
Customer ID (In case an existing Account Holder)
Nominee Name
Nominee Address Same as primary account holder Update address below

Relationship with Depositor (If any) Date

DD MM Y Y Y Y
If the nominee is minor**, please complete this section. As the nominee is a minor on thie date, I/We appoint:
Guardian Name
Guardian Address
to receive the amount of deposits in the account on behalf of the nominee in the event of my/our/minor's death during the minority of the nominee. (**Where deposit is made
in the name of minor the nomination must be signed by a person lawfully entitled to act on behalf of the minor)
No, I do not wish to nominate anyone on my behalfat this moment, I understand the advantages of nomination and the consequences
of not nominating anyone to my account
I/we do hereby declare what is stated above is true to the best of my knowledge and belief.
Date Place
DD M M Y Y Y Y
WITNESS 1 WITNESS 2
SIGNATURE (Required only if applicants use thumb impression) (Required only if applicants use thumb impression)

Mode of Operation : Singly Either or Survivor Former or Survivor Jointly

DECLARATION
1. I/We wish to avail the banking facilities/products from IDFC FIRST Bank Limited ("IDFC Bank"), and have read, understood and agree to the Terms and Conditions displayed on the website of IDFC FIRST Bank i.e.
www.idfcbank. com, which may be amended by IDFC FIRST Bank from time to time and hosted and notified on the website of IDFC FIRST Bank.
2. I/We have read, understood and agree to the charges/costs, mentioned in the extant Schedule of Charges. This Schedule of Charges is also displayed on www.idfcbank.com.
3. I/We agree to abide by and be bound by all applicable rules/regulations/instruction/guidelines issued by the Reserve Bank of India, and under the FEMA regulations, 2000 governing EEFC Accounts, the Foreign
Exchange Management Act, 1999 and Foreign Account Tax Compliance Act, 2010 (to the extent applicable to India) and the Common Reporting Standards (CRS), in force from time to time. I/We have declared our
status as per the rules applicable under section 285BA of the Income Tax Act, 1961 (the Act) as notified by Central Board of Direct Taxes (CBDT) in this regard.
4. I/We authorize IDFC FIRST Bank to conduct my/our credit history verification with CIBIL or any other credit rating agency and acknowledge that IDFC FIRST Bank shall have the right and authority to carry out
investigations from the information available in public domain for confirming the information provided by me/us to IDFC FIRST Bank. I/We declare that I/we have not availed any credit facility from any bank or have
obtained NOC from such bank(s) for opening of a current account with IDFC FIRST Bank.
5. I/We agree to furnish and intimate to IDFC FIRST Bank any other particulars that we are called upon to provide on account of any change in law/statutory requirements either in India or abroad. I/We authorize IDFC
FIRST Bank to exchange, share or part with all the information provided herein with financial institutions/agencies/statutory bodies/other such persons, as may be required by IDFC FIRST Bank. I/We shall not hold IDFC
FIRST Bank or its agents/representatives liable for using/sharing such information.
6. I/We hereby declare that the information provided herein as well as in the documentary evidence provided by me/us to IDFC FIRST Bank (the "Customer Information") is true, correct and complete in all aspects to the
best of my/our knowledge and that I/we have not withheld any Customer Information that may affect the assessment categorization of the account as a Reportable account or otherwise. I/We further agree that any false/
misleading Customer Information given by me/us or suppression of any material fact will render my/our account liable for closure and the bank shall have the right to initiate any action, under law or otherwise.
7. If any of the information provided here is incorrect, I/We hereby agree to indemnify and keep indemnified IDFC FIRST Bank, affiliates and their successors or assignees.
8. I/We agree and understand that IDFC FIRST Bank reserves the right to reject my/our account opening application form/request without assigning any reason thereof and without being liable to me/us in any manner
whatsoever.

Signature of Borrower Signature of Co-Borrower

Signature of Borrower Signature of Co-Borrower

Date
D D M M Y Y Y Y
 HOME LOAN AGREEMENT

IDFC FIRST Bank Limited (formerly IDFC Bank Limited)

Naman Chambers, C 32, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400051 Tel: +91 22 7132 5500, Fax: +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

IDFCFIRST/HL/20012022/V.11