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Gade Sanction Letter

HDFC Bank has sanctioned a loan of Rs. 17,50,000 to Avinash Hanumant Gade of Gade Earthmovers for the purchase of a JCB 3DX excavator. The loan has an interest rate of 10% and is to be repaid over 48 monthly installments. While the loan has been approved, the delivery order and payment will only be issued after all legal and documentation formalities are completed. The letter notes several terms and conditions of the loan including deducting processing fees from the disbursement amount, collecting other payments directly from the customer, and noting HDFC Bank's hypothecation on the sale invoice.

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Swapnil Gade007
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1K views1 page

Gade Sanction Letter

HDFC Bank has sanctioned a loan of Rs. 17,50,000 to Avinash Hanumant Gade of Gade Earthmovers for the purchase of a JCB 3DX excavator. The loan has an interest rate of 10% and is to be repaid over 48 monthly installments. While the loan has been approved, the delivery order and payment will only be issued after all legal and documentation formalities are completed. The letter notes several terms and conditions of the loan including deducting processing fees from the disbursement amount, collecting other payments directly from the customer, and noting HDFC Bank's hypothecation on the sale invoice.

Uploaded by

Swapnil Gade007
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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HDFC BANK

Sanction intimation Letter


Date- 17/02/2021

To,

BANE
AAt DFG
Avinash Hanumant Gade, Gade Earthmovers.
A/p Adhiv Tal-Pandharpur Dist:-Solapur

Sub: Sanction Letter for 01 Nos. JCB 3DX To Avinash Hanumant Gade
APUR
Dear Sir,

This is to inform you that we have sanctioned a loan of Rs. 17,50,000/(Seventeen


Lakh Fift Thousand Only) towards above mentioned Asset.

Theother details are as under


Name of the customer:-Avinash Hanumant Gade, Gade Earthmovers
Vehicle to be purchased:-01 Nos JCB 3DX
Invoice Value Rs. 27,30,000/
Rs. 17,50,000/-
Loan Amt.Sanctioned
Interest Rate 10%
Processing Fees & Stamping(Less)-Rs. 13,700/Net
Disbusment Amount Rs. 17,36,300/-
No of Unit-01
Tenure:-48 Month

However this is not a DELIVERY ORDER. The Delivery Order and the payment will be issued
after the completion of all legal and documentation formalities.

We will Deduct amount of Stamp charges, Processing Fee & advance Installment remitted at
your end.

Please note:
a. That all the other payments due, should be collected from the customer directly.
b.To note our hypothecation in sale invoice as "hypothecation with HDFC BANK Ltd.
c. Validity of this sanction letter is 7 days.
d.Terms &Conditions apply.
e. Subject to Positive RIC

Thanking you and assuring of our best services at all times.


DFC

For HDFC Bank Ltd

AAf
OAPS

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