MOST IMPORTANT TERMS AND CONDITIONS (MITC)

Please read carefully before confirming/signing:

We, InCred Fi nanci al Servi ces Li mi ted formerly known as KKR India Financial Services Limited
("InCred"), refer to your request for a loan as mentioned in the Loan Application No:
7766323070271015A. dated 11/07/2024 executed by you in favour of InCred. InCred has agreed to
provide the Loan facilities as per terms and conditions mentioned in the application and/or herein below
1 Applicant Name: AJAY DURGA RAT H
2 Loan/Facility Amount INR, (Rupees 200000only) to be disbursed
3 T ype of loan Personal Loan
4 Purpose of Loan General Purpose
5 T ype of Interest Fixed
Rate of Interest % p. a.
6 16% Per Annum
(Annualized)
7 Tenor (Months) 24
8 First EMI date: 05/08/2024
9 Processing Fee 2% +GST
Exact due dates for
10 5th of Every month
repayment of a loan
Exact date of
commencement of Please refer the Repayment Schedule/Amortization Schedule shared
11
repayment, if moratorium post disbursal
is applicable
Please refer the Repayment Schedule/Amortization Schedule to be
12 Final Repayment Date
shared after disbursement of the loan
Break up between Principal 200000
13
Principal and Interest Interest 35020
Equated Monthly Rs. 9793/- per month
14
Installment (EMI) Details 5th on every month.
15 Frequency of Repayment Monthly
T he Borrower confirms to have received indicative repayment
schedule for the Loan Amount (Enclosed as Appendix – I). T he
16 Repayment Schedule Borrower understands that Repayment EMI Schedule may change as
communicated by InCred based on the date and amount of final
disbursement towards the Loan.
Penal charges i n case
of del ayed payments/
Ki ndl y refer the Schedul e of Charges (SOC) annexed
17 non-compl i ance of
herewi th/Annexure 1
materi al terms and
condi ti ons of l oan

Page 1 of 7 Version 5.4/ 24th May, 2024

 Bank Bank Account No: 50100471267381
Account Bank Name: Hdfc Bank
18
details for Bank Branch Name: na
disbursement IFSC Code:HDFC0000050
All Taxes including Income Tax, Goods and Services Tax, duties, cess and levies as per
applicable law pertaining to the transaction (including on the charges mentioned
above) whether present or in future to be borne by the Borrower. “Tax” or “Taxes”
or “Levies” shall mean
i. all forms of tax (direct and indirect), levy, duty (including stamp duties), charge,
impost, withholding or other amount, whenever or wherever created or imposed by,
or payable to any Tax Authority in India or other jurisdictions whether payable on
own account or in a representative capacity,including without limitation in relation to
“Tax” or
income, profits, gains, net wealth, asset values, turnover, expenditure, capital gains,
19 “Taxes” or
withholding, employment, payroll, fringe benefits, goods and services tax and
“Levies”
franchise taxes (including include surcharge and cess); and
ii.all charges, interest, penalties and fines incidental or relating to any Tax falling
within (i) above or which arise as a result of the failure to pay any Tax on the due date
or to comply with any obligation relating to Tax.

“Tax Authority” or “Tax Authorities” means any revenue, customs, fiscal,

governmental, statutory, state, provincial, local governmental or municipal authority,
body or Person responsible for Tax;

Other Terms and condi ti ons:

1. Broken Period Interest shall be applied for the period between the date of disbursal and the
EMI start date. T he disbursal shall be net of broken period interest, processing fee and
applicable taxes.
2. Fixed Rate of Interest: "Fixed Rate of Interest" means the fixed rate of Interest applicable
on the Loan/Facility as per the Schedule hereunder, which is subject to review by the
InCred from time to time.
3. InCred shall ensure that such change in the Rate of Interest is applicable prospectively
only. InCred shall give communication to the Borrower of any change in the terms and
conditions including the disbursement schedule, Rate of Interest, service charges,
prepayment charges and also notify such changes by updating the same on its Website,
wherever applicable.
4. InCred shall in its absolute discretion be entitled to modify the Fixed Interest Rate and the
Borrower agree and confirm to pay interest as per such modified interest rates on the
Loan/Facility and related amounts on and from the date of such modification.
5. T he rate may be changed suitably at such interval from time to time and prospectively on
account of change in mandate of the Reserve Bank of India and/ or any other statutory
authorities, unforeseen or exceptional changes in money market conditions and internal
policies/ factors associated with InCred. In such event, notwithstanding the provisions of
the Schedule hereunder, the Borrower agrees to pay interest on such revised rate and this
Agreement shall be construed as if such revised rate was expressly mentioned herein
6. T he Borrower hereby also agrees to keep himself/herself/itself abreast with all
notifications on the Website and shall be bound by the aforesaid change and shall not
dispute the same.Notwithstanding the above, the Borrowers agree that Rate of Interest
may increase on account of directives/guidelines issued by the RBI, statutory authority and
in that case, the Borrowers agree and undertake to pay such revised rate of interest.
7. InCred reserves the right to change the rate of interest and other charges, at any time,
with previous notice/intimation, and any such changes shall have prospective effect.

Page 2 of 7 Version 5.4/ 24th May, 2024

 8. InCred shall be entitled to revise the Rate of Interest at any time and from time to time as
per statutory authority, InCred internal policy, market conditions, external factors and/or
applicable laws, if any, during the tenor of the Loan/Facility, at its discretion and the
Borrower shall also be liable to pay interest at such revised Rate of Interest in such
manner and within such period as may be determined by InCred in its sole discretion.
9. In the event of above stated reset of Rate of Interest, the following option shall be
provided
enhancement in EMI or elongation of tenor or for a combination of both options;
and,
to prepay, either in part or in full, at any point during the tenor of the loan.
10. At any time during the currency of the Loan/Limit/Facility, the InCred shall have the sole
and exclusive right to cancel the Loan/Limit/Facility, with or without reasons, and declare
all obligations of Borrower immediately due and payable and/or stop advancing money or
extending credit for the Borrower’s benefit under this Sanction Letter/Most Important
Terms and Conditions or any other agreement between the Borrower and InCred, and
terminate the right of the Borrower to avail of or make disbursements from the
Loan/Limit/Facility by giving a written intimation to the Borrower and any such
cancellation shall not discharge an obligation accrued on the Borrower.
11. Lenders reserves the right to alter / revoke / cancel /recall and/or modify the credit limit /
loan (except increase in loan amount/credit limit. Lender shall ensure that there is no
automatic increase in credit limit unless explicit consent of borrower is taken on record
for each such increase.) and / or any other terms and conditions as it may deem fit
absolutely at its discretion without notice and without assigning any reason thereof. and all
principal monies, interest thereon and all other costs, charges, expenses and other monies
outstanding shall become due and payable to the lender forthwith upon demand from the
Lender.
12. InCred shall release all securities, if any, on repayment of all dues or on realisation of the
entire outstanding amount of loan/facility subject to any legitimate right or lien for any
other claim InCred may have against borrower/obligors. in the even of exercise of any
right of set off/lien, borrower/obligors shall be given notice about the same with full
particulars about the remaining claims and the conditions. Property title documents,
deposited with InCred/IFSL with respect to mortgaged property, as security for loan
facility, if any, shall be collected, in person, by the Borrower/Co-Borrower, from the
place/branch as stated below, within 30 (thirty) days from the date of full repayment/
settlement of the loan account a) from the InCred/IFSL branch where the loan account is
serviced or b) any other office of InCred/IFSL where the documents are available, as per
your/Borrower preference.
13. Any discharge, release or settlement from time to time between InCred and the Borrower,
if any discharge or payment in respect of the Obligations by the Borrower or any other
person is avoided or set aside or ordered to be surrendered, paid away, refunded or reduced
by virtue of any provision, Applicable Law or enactment relating to bankruptcy,
insolvency, liquidation, winding up, composition or arrangement for the time being in force
or for any other reason whatsoever, InCred shall be entitled hereafter to enforce this
Deed as if no such discharge, release or settlement had occurred.

Page 3 of 7 Version 5.4/ 24th May, 2024

 14. I understand that processing fees and stamping charges would be deducted from
disbursement or if paid up front the same would not be refunded. Further, loan amount
disbursed to me shall be subject to all statutory levies, taxes, deductions, as specified by
the regulators from time to time, shall be borne by me.
15. T he Borrower shall repay the Loan along with Interest and such other amounts due by
paying Equated Monthly Installments as per the Repayment Schedule/Amortization
Schedule.
16. T he Borrower state and confirm that Lender/InCred may present the Cheque/Standing
Instructions/NACH Debit instructions issued by the Borrower in favour of Lender/InCred,
for repayment of the principal, interest and/or any other charges as applicable including
but not limited to Penal charges, all costs and expenses, and represent the same as per
applicable statutory authorities extant rules/regulations/circulars and the Borrower
confirms that he/she shall maintain sufficient balance to honour the
presentation/representations of debit instructions.
17. Breakup of Principal & Interest rate will be available in repayment schedule.
18. T he Borrower shall make all payments to be made by it hereunder without any Tax
deduction. T he Borrower shall ensure that all payments due to the Lender shall be made to
the full extent of the requisite amount of such payments as per the terms agreed upon
between the Lender and the Borrower.
19. If the Borrower is or becomes aware that the Borrower is/shall be required to make a Tax
deduction (or that there is a change in the rate or the basis of a Tax deduction), it shall
promptly notify the Lender. If the Borrower is required to make a tax deduction, it shall
make the tax deduction allowed by law and shall make any payment required in connection
with that Tax deduction within the time allowed by law and provide Tax deduction
certificate to the Lender. For any T DS payments made by the Borrower, the Lender shall
refund the amounts of such T DS to the Borrower within a reasonable time after the
requisite T DS certificate has been submitted to the Lender provided the amount of T DS
deposited by the Borrower is over and above the amount required to be paid by the
Borrow as per the repayment schedule.
20. Subject to clause 18 and 19 above, the Borrower shall during the currency of the Loan
bear all and any present and future Taxes as may be applicable or as may be levied by a Tax
Authority or government or any statutory agency or body or authority in relation to the
Loan. If the Lender is required to make any payment on account of any tax in relation to
any sum received or receivable by the Lender hereunder, then the sum payable by the
Borrower to the Lender shall be increased to the extent necessary to ensure that after
making such payment, the Lender receives and retains a sum equal to the sum which it
would have received and retained had no such payment or deduction been made or required
to be made.
21. If there is, at any time, any incidence of any Taxes on the Lender directly connected and/or
attributable to the Loan, the Lender shall notify the Borrower of such incidence of tax and
shall be entitled to pass on such incidence to the Borrower. T he Borrower shall make
payment of such taxes without demur, protest or cavil. Notwithstanding the above, if the
Lender makes payment of any such indirect tax, the Lender shall, be entitled to be re-
imbursed for the same by the Borrower.
22. T he Borrower shall be required to pay all indirect Taxes including GST on any fee(s),
charges, etc. that the Lender may charge to the Borrower. If the GST Registration number
provided by Borrower is incorrect or not accepted by the GST N portal due to reasons like
the same is Inactive/ Cancelled / Suspended etc., then the fees for supply of service
provided to you will be reported as a B2C supply and the Lender will not be responsible for
the loss of input tax credit suffered by you in this regard (if applicable).

Page 4 of 7 Version 5.4/ 24th May, 2024

 a. T he terms of this loan shall also be governed by General Terms and Conditions (available on
InCred’s website https://www.incred.com/terms-and-conditions-pl.html ) I/We hereby agree and
acknowledge that: I/ We have read and understood the contents [the contents have been read
out to me in vernacular and I have understood the same, (applicable only to applicants/
borrowers having knowledge in regional/ vernacular language alone)] of the Sanction Letter and
Most Important Terms and Conditions. General Terms and Conditions (available on InCred’s
website https://www.incred.com/terms-and-conditions-pl.html and registered as a declaration at
the Sub-registrar's office at Bandra, Mumbai, copies of which I have read and understood before
confirming acceptance.
b. InCred is entitled to add, delete, recall, amend, modify the Loan terms with prior notice or
modify any of the aforesaid terms and conditions and the same shall be binding on me.
c. All details are filled and there are no blanks in the same.
d. I have perused, understood and agreed to InCred's method of calculating the Instalments.
e. I am aware that the documents to be executed by me integrate all the conditions mentioned
herein and incidental thereto, and supersede all negotiations or prior writings, except for
provisions of this document. In the event of any such conflict between the terms, conditions
and provisions as stated herein with the terms mentioned elsewhere, then in such an event the
terms, conditions and provisions as stated above shall prevail.
f. I hereby acknowledge that I have been provided with a copy of this document and all other loan
documents.
g. I understand that processing fees and stamping charges would be deducted from disbursement
or if paid up front the same would not be refunded. Further, the loan amount disbursed to me
shall be subject to all statutory levies, taxes, deductions, as specified by the regulators from
time to time, shall be borne by me
h. In order to remove any ambiguity, it is clarified that the intervals are intended to be continuous
and accordingly, the basis for classification of SMA/NPA categories shall be considered as
follows:

Example of NPA/SMA

If the EMI/Interest is not paid within 30 SMA-

days from the date of repayment 0
If the EMI is not paid within 60 days SMA-
from the date of repayment 1
If the EMI is not paid within 90 days SMA-
from the date of repayment 2
If the EMI is not paid for more than 90
NPA
days from the date of repayment

i. I hereby agree to intimate in writing to InCred, within 30 days of any update/change/alteration/

correction in the know your customer (KYC) documents/officially valid documents including
but not limited to my identity proof, address proof, etc.
j. I hereby authorize InCred to make disbursements of Loan in the bank account as stated above
and deduct pre-equated monthly installment interest (PEMII), if any for the disbursement
amount.

Page 5 of 7 Version 5.4/ 24th May, 2024

In the event of any inconsistency between the Sanction Letter/Most Important Terms and Conditions
and General Terms and Conditions, the Sanction Letter/Most Important Terms and Conditions shall
prevail.
If you need any clarification, please feel free to speak to our representative or email us at:
[email protected].

Please do not sign the above document if it is blank. Please do not pay
cash to anyone for the processing of your loan. In case you are asked,
please refuse and contact InCred directly. For all payments made to any
representative of InCred towards any fee/charges, please ask for a valid
receipt.

Jul y 11th 2024, 10:17:37 pm - 8142558460

____________________________________________________
Signature of Applicant/Borrower/Co-Borrower (if any)
Place: Gachibowli

Page 6 of 7 Version 5.4/ 24th May, 2024

 ANNEXURE 1

SCHEDULE OF CHARGES

Sr
Charge Type Charges
No.
1 Processi ng Fee Upto 5% of the Loan Amount + appl i cabl e Taxes
2 Loan Cancel l ati on Charges Upto Rs.1,000 + appl i cabl e Taxes
Swap Charges (EMI due date, Bank
3 Upto Rs.1,000 + appl i cabl e Taxes
a/c change, Repayment mode change)
Late EMI Payment Charges (LPP) Rs 30 per month for every Rs 1000 Pri nci pal
4
(not to be capi tal i zed) Overdue on Pro rata basi s + appl i cabl e Taxes
Part Prepayment Charges and Ful l Upto 5%+appl i cabl e Taxes after 6 months of
5
Prepayment / Forecl osure Charges di sbursement
NACH/ PDC bounce / di shonour
6 Upto Rs.500 per i nstance
charges
CERSAI/CKYC/NESL/ RoC
7 Regi strati on Charges/ other At actual s + appl i cabl e Taxes
statutory charges etc.
Rs. 100 per noti ce and Rs.75 per addi ti onal
8 Charges towards Legal Noti ce
address. + appl i cabl e Taxes
9 Charges towards SARFAESI acti ons At Actual s + appl i cabl e Taxes
Rs. 7,500/- ( Rs.7,000/- Professi onal Fees +
10 Charges towards Arbi trati on
Rs.500 Stamp Paper) + appl i cabl e Taxes
Charges towards Insol vency
11 At Actual s + appl i cabl e Taxes
Proceedi ngs
Rs.4,000 + appl i cabl e Taxes towards l egal
Charges towards Secti on 138 / proceedi ng under Negoti abl e Instrument Act,
12
Secti on 25 1881 (Sec.138) and Payment of Settl ement Act
2007 (Sec. 25)
Other faci l i ty charges as appl i cabl e
from ti me to ti me due to govt. To be speci fi ed and communi cated by the
13
regul ati on/ i nci dental charges Lender from ti me to ti me
i ncurred by Lender
Other Penal Charges for non-
To be speci fi ed and communi cated by the
14 compl i ance of materi al obl i gati ons
Lender from ti me to ti me
wi th pri or communi cati on

Page 7 of 7 Version 5.4/ 24th May, 2024