Date : Mar 26, 2025
To : REF FITSTOK TRADING SERVICES PRIVATE LIMITED
LOAN APPROVAL LETTER
Dear Sir,
We are pleased to inform you that the loan application of Himanshu Kumarpal has been approved vide
approval no. 90015145463 as per the details mentioned below.
SFDC ID 90015145463
Location DELHI
Name of
Himanshu Kumarpal
Customer
Brand Name HERO MOTOCORP
Model Name 97.2 CC
Sub Model HERO SPLENDOR PLUS BLACK AND ACCENT
Name of
REF FITSTOK TRADING SERVICES PRIVATE LIMITED
Dealer/DSA
Scheme
USED BIKE COMMUTER
description
Customer 2206 GALI RAVIDAS DAILYWADA SADAR BAZAR 30 HAZARI METRO STATION
address NORTH DELHI, DELHI 110006 - Property Status: Rented
The disbursement break up would be as under:
Asset Cost(ORP) 87140.40
Loan Amount Approved 58000.00
Down Payment Required 31918.40
Processing Fee 1160.00
Rate of interest (Reducing) 24.92
Net Disbursal 55222.00
GST Amount 0.00
The dealer/channel hold the responsibility to hypothecate the vehicle in the name of undersigned
within 10 days of disbursal. (IDFC First Bank Ltd) In case of anymismatch in hypothecation
dealer/channel will have to facilitate correction within 10 days from date of intimation.
Thanking you,
For IDFC First Bank Ltd.
Notes:
1. This Approval Letter is valid for 7 days from the date of issue and subject to terms/condition as stated
above. Any change in terms /Condition would require a fresh sanction letter. For whatever reason, if
the loan is not disbursed within 7 days of issuance of this letter, then Bank will not be liable to pay the
Dealer.
2. This must not be treated as a "delivery order" in respect of the vehicle. Kindly note this is only a
conditional approval document. The vehicle may be delivered basis this document but actual
disbursement is conditional to dealer/customer providing requisite post documents, eg.
Agreement,PDC/ECS,KYC,insurance,invoice,RCU approval etc.
3. In case, it is later found that customer had taken a different vehicle from the dealer than the one
specified in the invoice provided, then Bank will not be liable to pay for that case. In case such
instances are identified post disbursement, Bank would have rights to adjust the payment for the said
case with any subsequent.
4. In case amount is transferred already, Bank is allowed to adjust the same from subsequent disbursals In
case there are any changes to the scheme after issuance of the sanction letter then only a fresh sanction
letter incorporating the impact of the changes will be valid and the disbursement amount may change
accordingly.
5. It is assumed that you have inspected the vehicle and satisfied yourself of the quality thereof. Bank will
not be liable for any defect or delay in delivery or any service issue concerning the Dealer/Regional
Transport Office/Insurance Company or any other intermediary involved in the deal.
6. The vehicle has to be registered at the address mentioned above.
7. Approval is subject to asset verification.
8. Borrower has the option to change the Interest rate type from floating rate to fixed rate.Fixed rate will
be as prevailing at the time of change request. Charges for ,changing the interest rate type are
mentioned below.
9. Interest rate type change will charged at Rs 1000.
10. Interest rate type can be switched only one time during the entire tenure of the loan. Once interest rate
is switched from floating rate to fixed rate, it will not be allowed to switch back to floating rate for rest
of the tenure remaining on loan.
11. Increase in benchmark lending rate will lead to increase in EMI or Tenure or both and decrease in
benchmark lending rate will lead to decrease in EMI or Tenure or both. Default option will be
impacting the tenure as per bank's policy. In case borrower wants to increase the EMI, Borrower to
approach the bank and bank to decide basis its internal evaluation.
This is a computer generated letter and does not require any signature
IDFC First Bank Limited (Formerly IDFC Bank Limited)
Naman Chambers, C 32, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400051 Tel: +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
