ISL1794651 Sanction Letter
Ref No. : 1794651
AJEET KUMAR SHUKLA
1001, F Wing Godrej Central,chembur
Sahakar Nagar, Kurla, MUMBAI,Maharashtra,400071
Email Id : swatisabban12@gmail.com
Mobile No. : 8608277673
Date : 22-May-2024
Dear Customer,
Hero Housing Finance Limited ("HHFL") is pleased to inform you that basis the Application submitted by you, HHFL approved your loan
facility as per below mentioned terms and conditions:
Particulars Description
Product Home Loan
End use of the Loan disbursed Re-Sale
Co-Borrower Names BHARATI RAMKRUSHNA RAJGURU
Loan Amount Approved ` 45,00,000 /- (Forty Five Lakh only)
Insurance Amount and Additional Fees ` 25,000 /- (Twenty Five Thousand only (Customer Funded: 25000/- only,
IMGC Fees: null/- only))
Tenor (in Months) 134
Rate of Interest (ROI) Type Floating
Rate Of Interest (ROI) 10.05% Per Annum (HHFL Reference Rate -8.25
HHFL Reference Rate 18.30%
EMI (Installment Amount) ` 56,002 /- (Fifty Six Thousand Two only)
EMI Frequency & due date Monthly (on 5 of every month)
Processing Charges 1.00%+ Applicable taxes
a) IMD ` 5,900 /-
b) Processing Fees ` 53,100 /- (upto 3% +applicable taxes)
c) Balance Processing Fees to be paid (b-a) ` 47,200 /-
Title Search Charges Upto Rs 2,500/- (applicable only for Mumbai Metropolitan Region)
b) Processing Fees 102,1,Pune,fsfaf af,PUNE,Maharashtra,411027
Primary Security
Switching/Conversion Charges: a)0.5% of principal outstanding or ` 2500 plus Applicable
a) Charges for Repricing of Interest Rate subject to taxes, whichever is lower.
Company's internal policy criteria b) 0.5% of principal outstanding plus Applicable taxes
b) Conversion Charges for switching from Floating
Interest Rate to Fixed Interest Rate or viceversa
Agreed and Accepted by the Borrower & Co-Borrower(s)
I/We confirm that we understand and accept the terms and conditions of the Sanction Letter, as laid out in English/ have been explained to
us in a vernacular language of our understanding and I/ We accept the Facility on the terms set above.
Name & Signature of the Borrower, if any Name & Signature of the Borrower
Name & Signature of the Borrower, if any
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ISL1794651
Prepayment Charges*
a) For Housing Loan/ Non-Housing Loans (other than business purpose) at floating rate: Nil
b) For Non-Housing Loans (other than business purpose) at floating rate for non-individual: 3% of the loan outstanding+ applicable taxes
c) For Non-Housing Loans for business purpose at floating rate (No charges for part pre-payment made upto 25% of the outstanding principal within one
financial year. Beyond that foreclosure charges mentioned below shall be applicable)
a.If tenor of the loan served is between 1 month to 12 months: 3% of the loan outstanding+ applicable taxes
b.If tenor of the loan served is more 12 months : 2% of the loan outstanding + applicable taxes
d) For a Housing Loan at fixed rate of interest prepaid/ foreclosed through own sources: Nil
e) For Housing Loan (other than paid through own sources) / Non-Housing Loan at fixed rate of interest-.3% of the loan outstanding + applicable taxes (No
charges for part pre- payment made upto 25% of the outstanding principal within one financial year. Beyond that foreclosure charges mentioned below
shall be applicable.
f) For Project Loan: Upto 4% of the loan outstanding + applicable taxes
g) For Term Loans to NBFCs/HFCs: Upto 2% of the loan outstanding + applicable taxes
*Minimum Pre-payment amount should be sum of 3 EMI's or Rs.50000/-, whichever is higher.
The expression "own sources" for this purpose means any sources other than borrowing from a Bank/HFC/NBFC or Financial Institution. The borrower shall
be required to submit such documents that the Company may deem fit & proper to ascertain the source of funds at the time of prepayment of the loan
For dual/hybrid rate loans (combination of fixed and floating), Part prepayment/foreclosure charges would be applied depending on whether at the time of part
prepayment/foreclosure, the loan is on fixed or floating rate.
The part pre-payment/foreclosure charges as mentioned above are as on date of execution of this loan agreement, however they are subject to change as
per prevailing policies of Hero Housing Finance Limited and accordingly may vary from time to time. Borrowers are requested to refer to
www.herohousingfinance.com for the latest charges applicable.
For Mixed Rate, Prepayment charges would be applicable as per fixed rate of interest in accordance to the schedule of charges , if the loan is closed within
the fixed tenure. There after prepayment to be charged as per the floating rate of interest charges.
Validity of the Sanction Letter 15 days from the date of issue
*EMI amount is subject to slight variance with change in the month of disbursement (upto max 4 days) depending on the days in the month. Taxes and
Levies, as and when levied.
SPECIAL TERMS AND CONDITIONS
1 Repayment to be taken from DDSDAADD HDFC BANK LTD.-396240061 Account 232353253525.
2 Certified True Copy of Registered Transfer Deed dated 2024-05-07 Additional Remarks - Pre Dis_Sanction
3 Copy of Balance Transfer Kit Additional Remarks - Pre Dis_Sanction
4 Certified True Copy of Non Registered Transfer Permission dated 2024-05-01 Additional Remarks - Pre Dis_Sanction
5 Copy of CERSAI Search Report Additional Remarks - Pre Dis_Sanction
6 At The Time Of Transaction - Original of Non Registered Gift Deed dated 2024-05-01 ( )Additional Remarks - At the Time
7 At The Time Of Transaction - Certified True Copy of Transfer Deed ( )Additional Remarks - At the Time
8 At The Time Of Transaction - Certified True Copy of Guarantee Deed ( )Additional Remarks - At the Time
9 At The Time Of Transaction - Original of Partnership deed ( )Additional Remarks - At the Time
10 Post Transaction - Certified True Copy of Relinquishment Deed ( )Additional Remarks - Post Trans
11 Post Transaction - Original of Sanction Letter/Repayment Schedule of Running Loan ( )Additional Remarks - Post Trans
12 Post Transaction - Original of Loan Approval Mail ( )Additional Remarks - Post Trans
13 Post Transaction - Copy of Seller Property Loan Document ( )Additional Remarks - Post Trans
For Hero Housing Finance Limited
Authorised Signatory - National Credit Manager
Agreed and Accepted by the Borrower & Co-Borrower(s)
I/We confirm that we understand and accept the terms and conditions of the Sanction Letter, as laid out in English/ have been explained to us
in a vernacular language of our understanding and I/ We accept the Facility on the terms set above.I/We authorise you to collect information
about is as may be required for evaluating the proposed financing Facility, including without limitation, gathering information for credit bureas
like CIBIL. I/We also authorize you to share my/our credit related information, and my/our personal data at any point of time, with credit
bureaus, statutory agency or any third party agency as you may deem fit.
Name & Signature of the Borrower Name & Signature of the Borrower, if any
Name & Signature of the Borrower, if any
For any query or clarification you can call on 1800-212-8800 or Email on Customer.care@herohfl.com.
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ISL1794651
GENERAL TERMS AND CONDITIONS
1. This sanction letter ("Sanction Letter") shall stand revoked/ cancelled and shall be rendered absolutely null and void
if:
a. there are material changes in the proposal for which this Facility is sanctioned;
b. any material fact concerning Borrowers income or ability to repay or any other relevant fact is suppressed, concealed or not
. made known to the Lender;
c. any statement made or documents submitted along with the Loan Application Form are found to be incorrect or false.
d. There is a default or breach of the terms and conditions of this or any other loan facility offered by HHFL or its group Company
. to the Borrower or any of the Co-Borrower(s).
e. Legal/technical/valuation report is not satisfactory.
f. Sanction plans of the mortgaged property is not approved from the appropriate authorities.
g. Relevant documents are not executed by the Borrower as per the HHFLs policy and format.
2. Not withstanding the issuance of this Sanction Letter and the acceptance thereof, HHFL may decide to not disburse the Facility,
repudiate and rescind this Sanction Letter unilaterally without assigning any reasons
3. This Sanction Letter intends to summarize certain basic terms of the Facility and Loan Agreement and does not reflect an agreement
between the HHFL and the Borrower in relation to the Facility. This Sanction Letter shall be
4. All indirect taxes, duties and levies, including but not limited to interest tax, service tax, education cess, levied under the applicable
laws as may be amended from time to time would be additionally charged.
5. HHFL adopts interest rate/ pricing methodology based on various risks associated with the type of loan, cost of funds, tenor of the loan,
type & value of security, loan amount etc. Further, HHFL periodically reviews the rate of interest and product features offered by it with
those offered by its competitors. For a borrower, an additional risk premium may be included in the pricing based on the credit risk
associated with the customer which is a function of the customers credit history, credit information, internal rating along with other
factors like the borrowers source of income, professional experience etc. Accordingly, the applicable rate of interest may be different
from a customer to customer and a loan to other loan.
6. In case of Floating Rate of Interest, the rate of interest is linked to Hero Reference Rate which subject to revision as per HHFLs
internal policies based on its sole discretion.
7. For any reset/ revision of floating interest rate or revision in HRR, the Company shall follow its internal policy. In case of any reset of
interest rate, any change in the same on the loan leading to changes in EMI and/or tenor or both shall be notified to the Borrowers
through appropriate channels. Further, at the time of revision of its floating interest rates, the Company shall provide the following
options to the Borrowers:
(a) Option of switching from a floating interest rate to a fixed interest rate.
(b) Option of enhancement in EMI or elongation of tenor or for a combination of both options.
In case of non-receipt of request from the Borrower regarding exercise of any of the above listed options within 7 days of such notice, it
shall be treated as deemed acceptance by the Borrower for continuing with the revised floating interest rate as notified to him/ her by the
Company. The Borrowers shall have the choice to prepay, either in part or in full, at any point during the tenor of the loan subject
applicable foreclosure charges/ pre-payment penalty.
8. A Borrower may be provided option to switch over from a floating interest rate to a fixed interest rate or vice-versa or repricing of interest
rate maximum up to one time during entire tenor of the loan, subject to the applicable charges and the Policies of the Company.
9. From the date of first disbursement, Borrower shall be required to pay Pre-EMI Interest (at the rate applicable to your facility) till the
time your Facility is fully disbursed, subsequent to which your EMI payments will begin.
10. The Processing Fees is a non refundable fee and is collected by HHFL for the purpose of appraising the Loan Application form for the
Facility and the same is independent of the outcome/result of such appraisal.
11. This Sanction Letter is confidential and the property of HHFL and neither this document nor the contents hereof shall be communicated
to or used without the HHFLs prior written consent.
12. It will be your responsibility to ensure that the property is duly and properly insured against all risks such as earthquake, fire, explosion,
storm, cyclone, civil commotion, etc. during the pendency of the loan, with HHFL being the sole beneficiary under this policy/policies.
Agreed and Accepted by the Borrower & Co-Borrower(s)
I/We confirm that we understand and accept the terms and conditions of the Sanction Letter, as laid out in English/ have been explained to us in a
vernacular language of our understanding and I/ We accept the Facility on the terms set above.I/We authorise you to collect information about is
as may be required for evaluating the proposed financing Facility, including without limitation, gathering information for credit bureas like CIBIL.
I/We also authorize you to share my/our credit related information, and my/our personal data at any point of time, with credit bureaus, statutory
agency or any third party agency as you may deem fit.
Name & Signature of the Borrower, if any Name & Signature of the Borrower
Name & Signature of the Borrower, if any
For any query or clarification you can call on 1800-212-8800 or Email on Customer.care@herohfl.com.
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ISL1794651
13. Borrower shall immediately intimate HHFL in the event of any change in the repayment capacity of the Borrower or any information
stated in the Loan application form.
14. No third party interest, including but not limited to license/tenancy rights havebeen created or will be created without prior written
permission of HHFL.
15. The mortgaged property is free from any proceeding or adverse judgment or decree ina Court case involving breach of contract, tax
malfeasance or other serious misconduct.
16. The mortgaged property is free from all disputes, charges, taxes, litigation, attachment anywhere in India.
17. The Borrower shall not create any further charge, lien or encumbrance on theassets/properties funded by HHFL, without prior written
permission of HHFL.
18. The Borrower shall not sell, assign, mortgage or otherwise dispose off any of the fixed assets charged with HHFL.
19. HHFL is entitled to add to, delete or modify all or any of the aforesaid terms and conditions.
20. Upon full loan repayment and closure, original property documents will be returned to the borrower within 30 days from the date of loan
closure and can be collected from local HHFL branch. With respect to Return of original documents on closure/ transfer of the Loan,
please note the following:
The original movable/ immovable property documents can be collected by the Borrower from the Company's branch where the loan
account was serviced. Alternatively, the Borrower also shall have option to collect it from a branch/ office of the Company where
original property documents can be made available.
In case where the delay is attributable to the Company, it shall compensate the borrower at the rate of ?5,000/- for each day of delay
beyond the above timeline or any other timelines prescribed by the RBI in this regard.
In case of loss/damage to original movable / immovable property documents, either in part or in full, the Company shall assist the
borrower in obtaining duplicate/certified copies of the movable / immovable property documents and shall bear the associated costs.
Disclaimer: While Company endeavour will be to comply with above, however in the event that the borrower does not collect the
original property documents within the specified 30 days period after loan closure, the responsibility to collect the documents later
would vest with the customer and company would co-operate with CM for safe handover of the documents.
21. This Sanction Letter shall be governed by the laws of India and the Borrower and the Lender shall be subject to the exclusive
jurisdiction of New Delhi.
22. In case of Home Loan, any amount can be prepaid.
23. In case of Non Home Loan, <= 25% of Principal Outstanding in a financial year can be prepaid.
24. Cheque/NACH bounce charges are INR 1000/- per bounce
25. Default & Penal Charges is 2% per month on overdue payment
26. If a change in terms and conditions is to the disadvantage of the customer , he/ she may within 60 days and without notice close his/ her
account or switch the loan account without having to pay extra charges or interest.
27. For All Home Loan Cases, Property should be vacant before execution of any transaction & release of funds to Seller.
28. For Loan Against Property Cases, if the property is on Rent, either the property has to be vacated upfront or NOC from Tenant has to be
documented along with his KYC.
Agreed and Accepted by the Borrower & Co-Borrower(s)
I/We confirm that we understand and accept the terms and conditions of the Sanction Letter, as laid out in English/ have been explained to
us in a vernacular language of our understanding and I/ We accept the Facility on the terms set above.I/We authorise you to collect
information about is as may be required for evaluating the proposed financing Facility, including without limitation, gathering information for
credit bureas like CIBIL. I/We also authorize you to share my/our credit related information, and my/our personal data at any point of time,
with credit bureaus, statutory agency or any third party agency as you may deem fit.
Name & Signature of the Borrower Name & Signature of the Borrower, if any
Name & Signature of the Borrower, if any
For any query or clarification you can call on 1800-212-8800 or Email on Customer.care@herohfl.com.
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ISL1794651
29. Sanction is subject to the clearance of initial cheque provided at time of login.
30. All Property Owners have to be the Applicant/Co-Applicant to the loan structure.
31. Client has to submit the Permission to Mortgage & has to Create the Charge of HHFL in ROC (wherever applicable) within 20 days of loan
disbursal.
32. Notice of Intimation (applicable in Maharashtra) to be done within 15 days of loan disbursal.
33. It is the customer or applicant's sole responsibility to ensure that registration of the sale deed takes place as per due process of
applicable rules and byelaws.
34. In case of Home Loan, any amount can be prepaid.
35. Failure to submit the original sale deed and other document, may entitle Hero Housing to recall or cancel the disbursement of the loan.
36. The applicant shall not have any legal recourse against Hero Housing, if recall or cancellation of the disbursement of the loan, takes
place due to non-submission of Original Sale Deed or on non-compliance of sanction conditions.
37. The final loan amount for Auto Top-Up Loans will be subject to positive credit verifications and appraisal criteria as per norms of Hero
Housing Finance Limited.
38. All the norms of ECLGS (emergency credit loan guarantee scheme) shall be governed by the operational guideline issued and
modification from time to time by National Credit Guarantee Trustee Company Limited (NCGTC).
39. Any changes to the current structure of the Scheme, including but not limited to the eligibility criteria, guarantee fee, rate of interest and
tenor of ECLGS under the Scheme, can be modified based on the modification by NCGTC.
40. You may refer to our Fair Practice Code (FPC) available on the HHFL website i.e.https://www.herohousingfinance.com/policies-and-codes.
41. This Sanction letter is issued subject to positive checks of Seller/s (including and not limited to CIBIL, KYC and Banking vintage) along
with Property verification(including and not limited to onsite visit, documentation and other checks) to the satisfaction of Hero Housing
Finance Limited & confirmation from your end that all the required property papers will be provided upfront in original(as per type of
transaction) for vetting by Hero Housing Finance Limited and/or by its authorised representatives & there is no encumbrance (as per
type of transaction) on the property
42. Reference rate is as on the date of login of the file at Hero Housing Finance Limited.
Agreed and Accepted by the Borrower & Co-Borrower(s)
I/We confirm that we understand and accept the terms and conditions of the Sanction Letter, as laid out in English/ have been explained to
us in a vernacular language of our understanding and I/ We accept the Facility on the terms set above.I/We authorise you to collect
information about is as may be required for evaluating the proposed financing Facility, including without limitation, gathering information for
credit bureas like CIBIL. I/We also authorize you to share my/our credit related information, and my/our personal data at any point of time,
with credit bureaus, statutory agency or any third party agency as you may deem fit.
Name & Signature of the Borrower
For any query or clarification you can call on 1800-212-8800 or Email on Customer.care@herohfl.com.
Sanction Letter Page 5 of 5
