sanction letter

SBFC Finance Limited
(Erstwhile Mape Finserve Pvt Ltd )

Unit 103, C&B SQUARE,
SANGAM CARNIVAL CINEMAS, Chakala,
Andheri (E), Mumbai - 400059.
Tel. 022-6787 5300
Date:03/04/2024
Applicant Name : SIDDAPPAJI
Co-Applicant 1 : RATHNAMMA R
Co-Applicant 2 : CHIKKOLAMMA
Address:- Door No. 110, Property no.85/82 and RDPR 152900102901100092, Thimmasandra Village, Lalaghatta Post Channapatna Taluk RAMANAGARA KARNATAKA -
562160
Dear Sir / Madam,
Sub: Sanction Letter For Loan Facility Vide Application No. _4021060000245793 Location- Vijayanagar
Thank You For Choosing SBFC Secured Business Loan. We Are Pleased To Inform You That With Reference To The Above
Type of Loan SBL
Purpose Business Expansion
Loan Amount Sanctioned Rs.8,00,000
Term of Loan Months
Interest type FLOATING
Rate of Interest 18 %
Amount of each EMI Rs 14,414/- (Payable monthly)
Initial Margin Deposit (non-

Rs3500/-(Including GST)
refundable)
Processing Fees (non- refundable) 2.00 % and PLUS GST
Door No. 110, Property no.85/82 and RDPR 152900102901100092, Thimmasandra Village, Lalaghatta Post Channapatna Taluk RAMANAGARA KARNATAKA -
Property Details
562160
Mode of Repayment NACH
Fees on Part Prepayment* 3% on amount prepaid. No partial Prepayment allowed in loan less than 6 MOB PLUS GST
5% on amount prepaid and on all amounts tendered by the Borrower towards Prepayment of the loan during the last one year from the date of final prepayment. No foreclosure of
Fees on Full & Final Prepayment*
loan upto 12 MOB PLUS GST
This offer letter is valid for a period of 30 days from the date of issuance.
The aforesaid rate of interest would be valid for a period of 30 days from date of this sanction letter.*All indirect taxes, duties and levies, including but not limited to interest tax, Goods and services tax, education cess,
levied under the applicable laws as may be amended from time to time would be additionally charged.
From the date of first disbursement, you will be required to pay interest / EMI (as Applicable to your loan) till the time your loan is fully repaid.
The aforesaid sanction of the loan will be subject to
1. Sanction is subject to legal clearance.

2. Subjective positive verification reports
3. LTV to be restricted at
4. Accepted Sanction letter by applicant and co applicant.
5. IMD clearance proof to be submitted
6. Security should be fully insured for all risks and our charged should be noted on the policy
7. Goods and Services tax is levied @ 18% on Professional Fees/CERSAI charges/ service charges/Part Payment /Full repayment / fees/ Bounce Charges, etc with effect from the date of enactment of the Goods and
Service Tax Bill 2017.
8. Borrower shall inform in writing about the change in address, job, business, profession as the case may be immediately alter such change.
9. The rate of interest is arrived at through SBFC Finance's interest rate model which takes into account relevant factors such as cost of funds, margin and risk premium. We take a comprehensive approach to the
gradation of risk that does not discriminate between classes of borrowers, but rather tailors the interest rate to each loan.
10. All loan Agreement on terms acceptable to the SBFC and other documents in relation shall be executed by the Borrower. The terms in the Loan Agreement shall supersede all previous communications in respect
of Finance Facility.
11. Accounts eligible for Top Up / Enhancement only after 12 months seasoning.
12. Foreclosure is allowed only after 12 months. Full repayment not allowed before 12 months.
13. Applicant to give an undertaking stating that he will provide latest financials as and when required by SBFC
14. All Updated Banking required.
15. The instructions issued vide RBI circular DNBS(PD).CC.No.399/03.10.42 /2014-15 on "Levy of foreclosure charges/ pre-payment penalty on Floating Rate Term Loans" are applicable where the principal
borrower is an individual. The status of co-borrower is not relevant in such case. Further, the floating rate term loan sanctioned to proprietorship/ partnership firm, even as the principal borrower, should not to be
treated at par with individuals as far as extending the benefit of the said circular is concerned. Since the loan is granted to non individual the foreclosure charges will be applicable or Since the Loan is granted as
per Fixed rate of Interest the foreclosure charges will be applicable.
16. I authorise the company to submit information related with KYC, security interest, Delays in days, if amount overdue is more than Rs 0, Current Balance, Amount overdue, date closed, etc and such other
information as may be required to be submitted by the company in accordance with RBI guidelines or such other regulatory bodies governing over the company like submission of information with CERSAI,
Information Utilities, Credit Information Companies, CKYC, etc.
17. The loan is not to be used for any other purpose except for the purpose as mentioned in your application and/or in subsequent discussions/undertaking.
18. The details given by you and the other applicants/ co applicant in the application form are true and correct and there is no material change in the same after making the applicant.
19. SBFC shall be entitle to revoke the Sanction of the Facility, inter-alia in any of the following circumstances:
1. There is any material change in the purpose(s) for which the facility have been sanctioned (‘the Purpose’) .
2. In the sole judgment of SBFC, any material fact has been concealed and/or become subsequently known.
3. Any statement made by you or your behalf in your application or otherwise, is incorrect, incomplete or misleading.
4. The accepted copy of this letter duly signed by you is not received by SBFC within the specified validity period (30 Days)
5. There is default under or a breach of the terms and conditions of this letter or any other loan / facility offered by SBFC or any other person/entity to you/any of you.
We look forward to a long lasting relationship with you.
Thanking You,
Yours Sincerely,
Name:
Designation:
(On behalf of SBFC Finance Limited )
I / We accept the above terms and conditions
Applicant Name: SIDDAPPAJI Co-Applicant 1 : RATHNAMMA R

Signature: Signature:
Place: Place:
Date: Date:
Co-Applicant 2 : CHIKKOLAMMA
Signature:
Place:
Date:

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SBFC Finance Limited

(Erstwhile Mape Finserve Pvt Ltd )

Dear Sir / Madam,

Type of Loan SBL

Purpose Business Expansion

Loan Amount Sanctioned Rs.8,00,000

Term of Loan Months

Interest type FLOATING

Amount of each EMI Rs 14,414/- (Payable monthly)

Initial Margin Deposit (non-

Processing Fees (non- refundable) 2.00 % and PLUS GST

The aforesaid sanction of the loan will be subject to

1. Sanction is subject to legal clearance.

We look forward to a long lasting relationship with you.

(On behalf of SBFC Finance Limited )

I / We accept the above terms and conditions

Applicant Name: SIDDAPPAJI Co-Applicant 1 : RATHNAMMA R

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