Signature Not Verified
Sanction Letter
Signed by : DS NAVI FINSERV LIMITED 1
Reason : Digitally signed and accepted
Date : 2024-05-25 03:15:00 IST
Dear Rajesh Kumar,
Please note that the Sanction Letter is a part of the User Loan Agreement. You must separately read the
entire User Loan Agreement before clicking the “Get Cash" tab:
1. Lender: Navi Finserv Limited (the "Lender")
2. Loan Amount: You are availing a loan of INR 90000.0 from the Lender.
3. Lender Charges: The Lender will charge you the following:
(a) Annualised Rate of Interest: 35.00%
(b) Processing Fee: Not Applicable
(c) 1st Equated Monthly Instalment ("EMI") Date: 27th JUNE 2024
(d) Details of the EMI Penalty Charges are available in the User Loan Agreement and summarized
below:
In the event you fail to pay your EMI (along with any other fees or charges that might have
accrued) on the respective EMI Due Date set out in Schedule A of the User Loan Agreement, you
shall be liable to pay additional EMI Penalty Charges (inclusive of GST), along with additional
taxes, if applicable, levied on each delayed payment of EMI amount as per the slabs mentioned
below for every specified period of default:
Delayed EMI Payment Date Total EMI Penalty Charges (Inclusive of GST)
1st - 7th day after EMI Due Date 10% of EMI amount
8th - 14th day of EMI Due Date 15% of EMI amount
15th - 21st day of EMI Due Date 20% of EMI amount
22nd day of the EMI Due Date or any day after 25% of EMI amount
that
It is hereby clarified that EMI penalty charges will apply on each instance of failure to pay EMI on
an EMI Due Date, as per the slabs and corresponding period of default mentioned above.
(e) Costs of Recovery (if any): In case of delayed EMI payments or breach of the User Loan Agreement,
the Lender may need to take steps to recover the outstanding payments and/or to enforce the loan
agreement. These may include payment to third parties such as recovery agents, lawyers, and other
costs, expenses and charges incurred within or outside the organization.
(f) The Lender may require you to reimburse the actual costs incurred by the Lender for such recovery
and/or enforcement. Please refer to clause 1.8 (Enforcement Cost) of the User Loan Agreement for
Navi Finserv Limited
E: help@navi.com | T: +91 81475 44555 | www.navi.com/finserv | CIN: U65923KA2012PLC062537
Registered Office- 2nd Floor, Vaishnavi Tech Square, Iballur Village, Begur Hobli, Bengaluru, Karnataka 560102
Sanction Letter
details.
4. Tax (inclusive of GST and all other fees and charges): INR 0.00
5. EMIs: Amounts due to the Lender hereunder will be paid through EMIs in accordance with Schedule A of
the User Loan Agreement.
6. Loan Tenure: 24 months
7. Method of Calculation of Interest: For the avoidance of doubt, it is hereby clarified that the interest rate
set out in Schedule A of the User Loan Agreement is an annual interest rate that accrues on a daily basis
vis-à-vis the principal Loan Amount. For example, if the Interest Rate payable on the Loan Amount is 30%,
this means that it would accrue daily, at the rate of 30% for the year, which would be 0.082% per day (i.e.
30÷365).
8. Interest Rate Policies: The charges applicable on the loan and the approach for gradations of risk and
rationale followed for charging different rate of interest to different categories of borrowers are as per the
Lender's policies, which can be accessed here and here.
Navi Finserv Limited
E: help@navi.com | T: +91 81475 44555 | www.navi.com/finserv | CIN: U65923KA2012PLC062537
Registered Office- 2nd Floor, Vaishnavi Tech Square, Iballur Village, Begur Hobli, Bengaluru, Karnataka 560102
