SANCTION LETTER CAR LOAN
Date Reference No. Loan Validity
June 29, 2024 MLP000071590719 July 27, 2024
MUBARIK
House no 9 ullawas badshahpur gurgaon Gurugram 9813199597
haryana Mandir gurgaon India - 122001 Mubariqk29@gmail.com
Dear MUBARIK ,
With reference to the application for the car loan submitted by you, we are pleased to sanction the car loan as
per the following terms and conditions:
LOAN DETAILS:
Car Make Model Maruti Swift VXi Processing Fee INR 4500
Loan Amount INR 645575 Stamp Duty INR 150
Interest Rate 11.0 %* Documentation Charges INR 700
Tenure 60 Months RC Charges INR 250
EMI INR 14036 **Early Closure Charges 5%
Net Disbursement INR 639975 **Part Payment Charges 5%
SANCTION LETTER CAR LOAN
The following are the additional terms and conditions to be complied with by you:
1. This sanction letter shall remain in force/valid only till the date mentioned in the journey irrespective of
rework.
2. The sanction is subject to no change in the underlying asset such as make/model/variant, city of purchase
and loan details.
3. In case of modification of any details submitted, it will automatically revoke the existing sanction letter.
4. The sanction Letter is subject to KYC compliance of the customer(s) as per regulatory guidelines.
5. The sanction letter is subject to no change in customer(s) demographic details available with the bank.
6. Rate of interest is as applicable on the date of disbursement.
7. This must not be treated as a “delivery order” in respect of the vehicle. 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.
8. Bank shall not be liable for any failure to perform its obligations where such a failure is due to
circumstances beyond control of the bank.
9. The above sanctioned loan amount will be used for purchasing car for Personal use only. Personal usage
includes -any usage by the borrower/s which would cover personal and/or business needs except hiring or
leasing of the vehicle(s) financed by Bank.
10. The Sanctioning of loan facility and its disbursal is at sole discretion of the axis bank.
11. For customers who have declared ownership of residence and/or commercial property while availing
sanction, the sanction letter is subject to submission of valid residential/commercial property ownership
proof before disbursement.
12. The no objection certificate/ no dues certificate shall be provided to you within 30 days of full repayment /
settlement of the loan account.
13. In case of incident(s) of settlement / write-off or any other pending legal/ recovery proceedings associated
with defaulted borrower(s) the no objection certificate/ no dues certificate will be provided to you within
30 days of date of receipt of document(s)/ order(s) from the relevant court / regulatory / statutory
authorities by the Bank.
SANCTION LETTER CAR LOAN
14. In case you approach us for the balance transfer / takeover of the loan by another lender, we will provide
the no objection certificate/ no dues certificate to such lender within 30 days from the date of receipt of
fund for full and final settlement of the outstanding dues in the loan account.
15. **Pre-Payment Charges are not applicable for fixed rate loans upto 50 lakhs to Micro and Small Enterprise
(MSE)
SANCTION LETTER CAR LOAN
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