Corporate Identification Number (CIN) L65190GJ1994PLC021012
Date: 2023-07-29
Name: MAHESH KUMAR RAJPOOT
Address: NA
Phone: 9350053475
Email: [email protected]
Dear Sir / Madam,
Sub: Offer letter for Facility vide Application no.7727036138
(Franchisee Code : 164307)
Thank you for choosing ICICI Bank. We are pleased to inform you that with reference to the above application, we have in-principle sanctioned you a
Facility, the details of which are given below.
Type of Facility RBP 24 Hour Top Up Loan
Facility Amount Sanctioned 264000
Term of Facility 120 months
Repo Rate
“Repo Rate“ or “Policy Repo Rate” means the rate of interest published by
Benchmark Rate for the Facility the Reserve Bank of India (“RBI”) on the RBI website from time to time as
Repo Rate or Policy Repo Rate.
The rate of interest for the Facility shall be sum of the Repo Rate plus Spread
per annum, plus applicable statutory levy, if any (Interest Rate). For the first
disbursement under the Facility, the applicable Repo Rate shall be the rate
prevailing one Business Day preceding the date of the disbursement and for
subsequent drawals, the Repo Rate prevailing for the Facility shall be
Applicable Interest Rate applicable.
As on date the Repo Rate is 6.50% and Spread is 3.25% and applicable
Interest Rate is 9.75%
The Repo Rate component of the Interest Rate will be reset on the first day of
the third subsequent month from the month in which the Facility is first
Reset Date & Reset Period disbursed (irrespective of the date of disbursement) and every three months
thereafter, as a sum of Repo Rate + “Spread”, plus applicable statutory levy,
if any. The applicable Repo Rate shall be the rate prevailing one Business
Day preceding the reset date
Amount of each EMI (on Monthly rest) 3452/- (Payable monthly)
Rs.1617 (Rupees One Thousand Six Hundred Seventeen only). Rs.124/-is
towards CGST and Rs.124/-is towards SGST OR Rs.0/-is towards IGST and
any other tax/levy applicable as per law.
Processing Fees (non-refundable)
The processing fee is a one-time non-refundable fee, and is collected by
ICICI Bank for the purpose of appraising the Application for the Facility and
the same is independent of the outcome /result of such appraisal.
CIBIL Report Charges Rs. 50/-plus applicable taxes and other statutory levies, if any.
Rs.59(Rupees Fifty-Nineonly). Rs.5/-is towards CGST and Rs.5/-is towards
Non-refundable charges under Central Registry of Securitization Asset
SGST OR Rs.0/-is towards IGST and any other tax/levy applicable as per
Reconstruction and Security Interest of India (CERSAI)
law.
As may be specified by ICICI Bank, from time to time at its sole discretion
Security
Nil of amount prepaid plus applicable taxes and/or other statutory levies.
Fees on Part Prepayment**
1. For the Facility with Fixed Interest Rate at the time of
prepayment:
a) 2% on Home loan, Home improvement loan, Land loan
and Top up on home loan on amount prepaid and on all
amounts tendered by the Borrower(s) towards prepayment of
the Facility during the last one year from the date of final
prepayment.
b) 4% on Non-home loan (i.e. Loan Against Property, Non
Residential Premises, Lease Rental Discounting, Non Home
Loan Top Up, Retail Trade Finance, Overdraft) on amount
Fees on Full & Final Prepayment** prepaid and on all amounts tendered by the Borrower(s)
towards Prepayment of the Facility during the last one year
from the date of final prepayment.
c) Nil Prepayment charges on fixed rate loans if loan is
booked under priority sector lending and Borrower(s) type is
Small or Micro & Loan amount is less than or equal to Rs. 50
lacs.
2) For the Facility with Adjustable Interest Rate at the time of
prepayment:
a) Nil prepayment charges on home loan, home
improvement loan and land loan.
b) Nil prepayment charges on top up on home loan where
the Borrower(s) is individual and the end use of the loan
facility is other than business purpose.
c) 2% on top up on home loan on amount prepaid and on
all amounts tendered by the Borrower(s) towards
prepayment of the Facility during the last one year from the
date of final prepayment where the loan is given to individual
Borrower(s) for business purpose and to Non-Individual
Borrower(s) for all purpose. Nil prepayment charges will be
applicable to individual Borrower(s) if loan is booked under
priority sector lending and Borrower(s) type is Micro or Small
Enterprise.
d) Nil prepayment charges on Non-home loan (Loan
against property, Non Residential Premises, Lease Rental
Discounting, Non Home Loan Top Up, Retail Trade Finance
, Overdraft) where loan is given to Individual Borrower(s)
and the end use of the Facility is other than business
purpose.
e) 4% on Non-home loan (Loan Against Property, Non
Residential Premises, Lease Rental Discounting, Non
Home Loan Top Up, Retail Trade Finance, Overdraft) on
amount prepaid and on all amounts tendered by the
Borrower(s) towards prepayment of the Facility during the
last one year from the date of final prepayment where the
loan is given to individual Borrower(s) for business
purpose and to non-individual Borrower(s) for all purpose.
Nil prepayment charges will be applicable to individual
Borrower(s) if loan is booked under priority sector lending
and Borrower(s) type is Micro or Small Enterprise.
f) Nil prepayment charges on Money Saver Account.
Other Conditions
ICICI Bank reserves the right to modify the reset frequency and reset date from time to time in accordance with the extant RBI Guidelines. The Borrower
further acknowledges that Interest Rate may change, upward or downwards, as the case may be, in line with change in the Repo Rate.
ICICI Bank may revise the Spread once every three (3) years from the date of the first disbursement, in accordance with the extant RBI Guidelines.
Notwithstanding anything contained herein, the Bank reserves the right to reset the Spread at any time upon substantial change in the Borrower’s credit
assessment and/ or on account of deterioration in the credit risk profile. Any change in ‘Spread’ would be communicated by the Bank through either: (i)
Letter (ii) E-Mail (iii) SMS (iv) Statements of Accounts (v) WhatsApp or any other suitable mode.
You shall be deemed to have noticed of changes in the Repo Rate when displayed on the notice board of the Branch or displayed on ICICI Bank’s website
(www.icicibank.com) and you will be liable to pay such revised rate of interest.
** All taxes, duties and levies, including but not limited to Goods and Services Tax, and any other tax/levy applicable as per law and as may be amended
from time to time would be additionally charged.
From the date of first disbursement, you will be required to pay Pre-EMI interest (at the interest rate applicable to your Facility) till the time your Facility is
fully disbursed, subsequent to which your EMI payments will begin.
The aforesaid sanction of the Facility will be subject to
1. Sanction Letter is valid for a period of 30 days, however the aforesaid ROI is valid for a period of 30 days
from the date of Sanction letter subject to change in the Repo Rate.
2. Property will be financed subject to the title of property being legally clear, marketable and technically clear
(floor plan and building plan approved from respective development authority).
3. Execution of Facility and other documents between you and ICICI Bank as per ICICI Banks policy and format.
4. All property owners to be co-applicant of loan; all co-applicants in existing mortgage loan LBGHZ00001453859 to be a part of this loan
5. The Facility amount must be utilized for the purpose as indicated by the applicant in the loan application and
the End Use of Funds letter and cannot be used for any other purpose.
6. The purpose for which the Facility has been sanctioned shall not be illegal / speculative / nefarious activities.
7. Repayment of the loan to be taken from account from which original loan is being repaid. Alternatively, where
repayment is not from ICICI bank account, repayment can be taken from any other ICICI bank account in the
name of the borrower who is making repayment of original loan.
8. The Facility may be recalled at any time if ICICI Bank in its discretion feels that the current market trends of
the real estate market are prejudicial to the business interests of ICICI Bank.
9. Charges pertaining to stamp duty on loan and security documents, as applicable to respective states, shall be
borne by the borrower.
10. The approval is valid subject to positive and satisfactory verification and authentication of all documents and
information provided by you.
11. The loan amount to be disbursed shall not be remitted outside India or credited to NRE/FCNR (B)/NRNR account
of the borrower.
12. Terms and conditions as mentioned overleaf
This letter shall be a part of the Transaction Documents and shall be read in conjunction with the Transaction
Documents executed by you the Borrower or any other person for availing the Facility from ICICI Bank.
The signing of this letter by the Borrower(s) constitutes acceptance and acknowledgement of the terms mentioned in this letter.
Your ICICI Bank Branch Sales Manager Harsh Berwal will assist you with all your requirements pertaining to the above Facility. You can reach him/ her on
8368449969 or you may write to us at [email protected] from your registered e-mail ID or call our Customer Care. We will be happy to assist
you.
We look forward to a long lasting relationship with you.
Thanking you,
Yours sincerely
This is a system generated letter and does not require any physical signature
I/We accept the above terms and conditions
Name: MAHESH KUMAR RAJPOOT
Signature:
Place:
Date: 2023-07-29
TERMS AND CONDITIONS ATTACHED TO SANCTION LETTER
1) This letter should not be construed as giving rise to any binding obligation on the part of ICICI Bank to provide the financial
assistance/s / facilities mentioned overleaf (the “Facilities”), unless you have submitted the duly completed application
forms to ICICI Bank and have executed all other relevant facility documentation as required by ICICI Bank and, in a form
and manner as may be required by ICICI Bank Limited (“ICICI Bank”) in connection with the Facilities (hereinafter referred
to as the “Transaction Documents”).
2) The Transaction Documents may / will contain terms and in addition to or in modification of those set out in this letter.
3) Notwithstanding anything stated elsewhere in this letter or otherwise, the Facilities mentioned overleaf will be available
solely at ICICI Bank’s discretion and subject to compliance of all formalities and documentation as may be specified /
required by ICICI Bank. The continuance of the Facilities is subject to cancellation and / or repayment to ICICI Bank on
demand without assigning any reason for the same.
4) ICICI Bank shall be entitled to revoke the sanction of the Facilities, inter alia, in any of the following circumstances:
a) there is any material change in the purpose(s) for which the Facilities has been sanctioned (“the Purpose(s)”);
b) in the sole judgment of ICICI Bank, any material fact has been concealed and / or become subsequently known;
c) any statement made by or on your behalf in your application or otherwise, is incorrect, incomplete or misleading;
d) the accepted copy of this letter duly signed by you is not received by ICICI Bank within the period specified hereinunder;
e) there is a default under or a breach of the terms and conditions of this letter and other Transaction Documents, or any
other facility offered by ICICI Bank to you / any of you;
f) the legal / technical / valuation report on the property is not satisfactory to ICICI Bank;
5) This sanction shall be available to the Borrower/s for a validity period of three months (in case the Borrower is salaried and
self employed professional) and for a validity period of three months (in case the Borrower is self employed non-professional)
provided the Borrower/s deposits with ICICI Bank the administrative charges & other charges / fees mentioned overleaf at the
time of delivering the accepted copy of this letter to ICICI Bank.
6) Repayment of the Facilities could be through Installment / EMIs comprising of principal and Interest / by way of Minimum
Amount Due.
7) ICICI Bank is entitled to add to, delete or modify all or any of the terms and conditions for the Facilities and/or the Standard
Terms applicable to the Facilities.
8) The Borrower/s shall immediately intimate ICICI Bank in the event of any change in the repayment capacity of the borrower/s.
Without limitation, this shall include a loss / change in job / profession etc. as also any change in any information stated in your
application for the Facilities.
9) The Interest Rate applicable to the Facilities shall be rate prevailing one Business Day preceding the date of the disbursement,
for the first disbursement under the Facility and for subsequent drawls, the Repo Rate prevailing on the first disbursement date
of the Facility.
10) EMI amount is intended to be kept constant irrespective of variation in Interest Rate; however, ICICI Bank is entitled to increase
the EMI at its sole discretion. The tenor of the Facilities shall also change as per change in EMI’s.
11) No disbursements / drawls under the Facilities shall be permitted until and unless the borrower/s has made its contribution
towards the Purpose(s) as mentioned overleaf, executed the required agreements, documents and writings and performed
such other acts and deeds and created such security as may be required by ICICI Bank.
12) ICICI Bank has sanctioned the Facilities on the basis of the calculation and the estimation of the costs to be incurred
for fulfilling the Purpose(s).
If the cost of fulfilling the Purpose(s) increases above or falls below the calculated amounts, ICICI Bank reserves the right to
cancel the Facilities or reduce the amount sanctioned at the sole and exclusive discretion of ICICI Bank and the decision of
ICICI Bank in that behalf shall be binding on the borrower/s.
13) For products other than Property Overdraft Facility, ICICI Bank may, in its sole discretion and on such terms as to pre-payment
charges, etc., as it may prescribe, permit prepayment/acceleration in payment of EMIs / installment at the request of the
borrower/s, subject to as ICICI Bank may specify, from time to time, the minimum amount of prepayment/amounts payable on
account of acceleration of EMIs. In the event ICICI Bank permits any prepayment /acceleration, the repayment schedule for such
facility shall be amended /altered by ICICI Bank for giving effect to such prepayment / acceleration repayment schedules shall
be binding upon the borrower/s. In case if any amount is prepaid by the borrower/s, the same shall be adjusted first towards
the incidental charges, additional interest, PEMII, EMI outstanding, EMI of current month and balance towards the principal
amount of such facility. ICICI Bank, at its sole discretion, may permit swap of the post–dated cheques for re-scheduling of EMI
only if such minimum amount, as may be decided by ICICI Bank from time to time is prepaid.
Additional Terms and Conditions applicable only for Non Resident (NRI) / Person of Indian Origin (PIO):
1. Repayment of the Facilities and all charges leviable under the credit facility application form and other Transaction
Documents shall be made by the borrower/s by remittances from abroad through normal banking channels or out of his
/ her NRE/FCNR/NRO account in India or through rental income derived from renting out the property in India and/or in
such other manner as may be decided solely by ICICI Bank subject to the applicable laws, rules and regulations including
FEMA.
2. The property purchased out of the proceeds of the Facilities will be used by the non – resident for his / her own occupation on
his /her return to India and not for any other purpose.
3. In the event of the property is given on lease / leave and license / tenancy basis (if so agreed upon by ICICI Bank) by the
borrower/s during his / her stay abroad, the borrower undertakes to utilize the entire rentals for repayment of the
Facilities, even if the entire rentals are more than the prescribed EMI. In such an event where the rentals are appropriated
towards repayment of the Facilities, ICICI Bank may in its sole discretion permit swap of the post–dated cheques for re-
schedulement of the EMI.
4. Payment of Margin Money must be made by debit to NRO account of the borrower/s as well as through direct remittance
from abroad through normal banking channels or out in India and /or in such other manner as may be decided solely by ICICI
Bank subject to the applicable laws, rules and regulations including FEMA and regulations made thereunder.
