Lending Partner
SANCTION LETTER & KEY FACT STATEMENT
Name of the Regulated entity : Yashik Finlease Private Limited
Date : dd-mm-yyyy
Applicant Name : Applicant Name
Yashik Finlease Private Limited is pleased to inform that the Borrower (hereinafter defined below) is eligible for a Loan.
The Loan is facilitated through the technology platform Varrenyam Infotech Private Limited as a result of an arrangement between the Yashik Finlease Private Limited and Varrenyam Infotech Private Limited (Lending
Service Provider).
We are pleased to inform you that with reference to your above transaction / application, we have inprincipal sanction you a loan facility, the details of which are as below:
1 Lender Yashik Finlease Private Limited
2 Lending Service Provider (LSP) / Digital Lending App (DLA) Varrenyam Infotech Private Limited
3 Application ID
Name:
Address:
Occupation:
4 Applicant Details Date of Birth:
PAN Number:
Mobile:
Email ID:
5 Purpose
6 Disbursement Mode Loan Amount will be disbursed to the following customer bank account:
7 Down Payment (if any) -
8 Tenure
Lender's Name
Date Applicant Name
Yashik Finlease Private Limited
Sr.
Parameter Details
No.
(i) Loan amount (amount disbursed/to be disbursed to the borrower) (in Rupees)
(ii) Total interest charge during the entire tenure of the loan (Interest to be paid as a part of EMIs) (in Rupees)
(iii) Other up-front charges, if any (break-up of each component to be given below) (in Rupees)
(a) Processing fees, if any (in Rupees)
(b) Insurance charges, if any (in Rupees) NIL
(c) Others (if any) (in Rupees) (details to be provided)
(iv) Net disbursed amount ((i)-(iii)) (in Rupees)
(v) Total amount to be paid by the borrower (sum of (i), (ii) and (iii)) (in Rupees)
(vi) Annual Percentage Rate - Effective annualized interest rate (in percentage) (computed on net disbursed amount using IRR approach and reducing balance method)
(vii) Tenor of the Loan (in months/days)
(viii) Repayment frequency by the borrower
(ix) Number of instalments of repayment
(x) Amount of each instalment of repayment (in Rupees)
Details about Contingent Charges
(xi) Prepayment charges (if any) Detailed as under
(xii) Rate of annualized penal charges in case of delayed payments (if any) Detailed as under
(xiii) Rate of annualized other penal charges (if any) NIL
(xiv) NACH/e-mandate bounce charges INR 250+GST
(xv) SOA charges, if applicable NIL
Other disclosures
(xvi) Cooling off/look-up period during which borrower shall not be charged any penalty on prepayment of loan 3 Days
Varrenyam Infotech Private
(xvii) Details of LSP acting as recovery agent and authorized to approach the borrower
Limited
Name : Name
Name, designation, address and phone number of nodal grievance redressal officer designated specifically to deal with FinTech/ digital lending related complaints/ Designation: designation
(xviii) Address: Address
issues
Phone Number : xxxxxxxxxx
Repayment Schedule (Tentative)
Instalment No. Outstanding Principal (in Rupees) Principal (in Rupees) Interest (in Rupees) Instalment (in Rupees) Due Date
General terms and conditions:
1. This Sanction Letter has been issued based on the documents and details submitted by the Applicant at the time of application, and in case of any discrepancy found later, Lenders shall have a right to revoke
this Sanction Letter.
2. Applicant may need to provide certain additional details or documents as required by the Lenders at the time of actual disbursal of the loan.
3. The actual disbursal of the sanctioned amount shall be subject to: -
Acceptance of the Loan Agreement between the parties, which shall be the final, binding, and superseding document for all purposes for this relationship between you and the Lenders, and
Applicant providing express consent to the Tenure and Interest Rate offered to him under the KFS by accepting the Loan Agreement.
4. The Applicant can withdraw multiple times within the validity of the Sanction Letter, however such disbursed amount shall in no case be more than the Amount Sanctioned and detailed out in the table above.
5. We provide a waiver of 18% interest (including GST) on the outstanding amount as Prepayment Charges.
6. For Rate of annualized penal charges in case of delayed payments we charge Minimum INR 590 including GST & Maximum upto INR (Loan Interest Amount including GST)
7. The Lenders shall have all the rights to revoke the Sanction Letter if the same is not accepted within [ 5 ] days from the date of the letter.
8. APR is effective annualized interest rate (in percentage) computed on net disbursed amount using IRR approach and reducing balance method.
9. Applicant may within Cooling -Off Period /Look-up Period repay the principal Loan amount along with proportionate APR without the requirement to pay any Prepayment charges. The Applicant continuing with
the Loan after Cooling off period/Look-up Period shall be liable to Pre-payment charges as detailed above/under the KFS.
10. In the event of a conflict between the Sanction Letter and the Loan agreement, the Loan agreement shall prevail to the extent of conflict.
11. As a precondition to the facility to be granted to the customer by the Lenders, the Customer hereby authorize, consent and agree for the disclosure and sharing by the Lenders of all or any information and data
relating to the Customer to the Reserve Bank of India ("RBI") and/or to the Credit Information Companies (CIC) and/or to any other agency authorized in this behalf by RBI / CIC, to the Lenders' professional
advisers and consultants, to its affiliates/ subsidiaries, agents, and to its service providers. In case of default in the repayment of the loan/advances/facility/interest on due dates, Lenders and/or the RBI / CIC will
have an unqualified right to disclose or publish the name of the customer and its directors / partners as defaulter in such manner and through such medium as Lenders or the RBI in their absolute discretion may
think fit.
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