MALHARGANJ (8806)

30/31,Kailash Marg, Malharganj, Indore, INDORE INDORE MADHYA PRADESH 452002

Application No. AP0011586606 Date:

Mrs. RITIKA VARMA

Co-applicant/s Name: Mrs. mangala varma

Guarantor Name(if proposed):

Ref: - Your Loan application dated 10/02/2025 for Rs.1600000.00 for Purchase of
MAHINDRA XUV700 [DIESEL] from approved Vehicle Dealer M/s. KRISHU MOTOR CRAFT PVT LTD under
Bank's STAR VEHICLE LOAN scheme.

Dear Sir/Madam,

We refer to your application for loan and subsequent clarifications and assurances advised to us by you.

We are pleased to inform you that the loan has been sanctioned to you, subject to the following terms
and conditions:
-

1. Type of Facility/Loan :Star Vehicle Loan

2. Amount of Loan/Limit : Rs. 1600000.00

3. Margin: Rs.706,580.00 ( @ 31 %)

4. a) Floating Interest Rate: On floating interest rate basis at the RBLR as may be fixed by BOI from
time to time based on the RBI Repo Rate from time to time plus Mark up and Credit Risk
Premium as may be fixed by BOI from time to time, presently 8.70 % % p.a. with monthly rests,
and as may be reset by BOI at such intervals as
it may deem fit.

b) Fixed Rate: The rate of interest applicable shall be.........% p.a. for a period of 5 years from
10/02/2025
 5. Interest to be charged monthly on compound basis.

6. Repayment: The loan shall be repayable in 83 EMIs of Rs. 25724.00 commencing from
10/04/2025 with 0
months of moratorium. Penal interest @2% will be charged for the overdue amount and overdue
period, if any.

7. Processing Charges: Rs .00 to be paid upfront before disbursement of loan.

8. Security Details: Hypothecation of vehicle as under;

Details of vehicle:

Type of Vehicle New Vehicle Category FOUR WHEELER

Brand Name MAHINDRA Make & Model XUV700 [DIESEL]

9. Insurance: Vehicle financed by the Bank to be insured with Bank's Hypothecation clause, at
your cost and policy to be submitted to the Bank every year.

10.Disbursement shall be made directly to the seller / dealer M/s. KRISHU MOTOR CRAFT PVT LTD by
means of pay-order/NEFT/RTGS after recovering appropriate margin and stamp receipt to be
submitted for the full amount / cost.

Product specific terms and conditions:

1. To submit to the Bank all original bills/receipts for amount paid towards cost of Vehicle,

2. To arrange for registration of our bank's Hypothecation charge over the proposed vehicle with
RTO and submit
R.C. Book copy of the same to the Bank.

3. To submit original/copy of the insurance Policy for the vehicle with Bank's
Hypothecation charge duly registered.

4. Vehicle to be made available to Bank Officers for inspection as & when intimated by the Bank.

5. The business strategy discount of 0.4 % is applicable to only new Vehicle loans Accounts
sanctioned during the
period are to be reviewed annually and the CRP (Credit Risk Premium) shall be as per the
CIBIL personal score on the date of review. However, the business strategy discount of 0.4 % in
vehicle loans shall continue,
irrespective of CIBIL score for the loans sanctioned for a period of one year from the date of
sanction or date of review whichever is earlier.

6. Business Strategy Discount/ any other concessions is linked to review of the account or one year
whichever is earlier.
7. BSD offered in the account to be withdrawn ab–initio, if the account is taken over by other Banks/
FIs within the period of one year from the date of sanction.

Switch over from floating interest rate to Fixed Rate and vice versa:

1. The borrower may seek switch over to fixed rate in the wake of rising interest rates. Borrower
who have opted fixed rate loans may also want to switch over to floating rate, in case of
decreasing interest rate scenario. The switchover will be permitted only if all the terms of
sanction are complied with.

2. The borrower is allowed to switch over for 2 times, during entire tenor of the loan.
3. At the time of reset of interest rate, the borrower will be given an option of switch over from
floating interest rate to Fixed Rate and vice versa during review of the account.
 4. In case of switch over, the administrative expenses as prescribed by Bank from time to time to be
recovered upfront along with the request letter. Applicable charges shall be levied from the
customer at the time of switch over.

5. The option of fixed rate of interest exercised by the borrower shall not be allowed to be
changed/reversed for a minimum period of 5 years from the date of first disbursement/switch
over.

6. After 5 years, it is open to the borrower to switch over from fixed rate of interest option to
floating rate of interest option. If no written intimation regarding change in the interest rate
option is received, it shall be presumed that the Borrower continues with his/her earlier exercised
option.

7. In case, Bank allows the borrower to change the ‘Fixed Rate of Interest’ to ‘Floating Rate of
Interest’ or vice versa, the rate of interest would be the prevailing floating rate/ fixed rate at the
time of change of option.

General Terms and Conditions:

1. During upward revision of interest rates, the borrowers shall also be given the choice to opt for (i)
enhancement in EMI or elongation of tenor or for a combination of both options; and, (ii) to
prepay, either in part or in full, at any point during the tenor of the loan.

2. In case of increase in floating Rate of Interest, the maximum tenor may be extended up to 1.2
times of maximum permissible tenor under the scheme. The elongation of tenor in case of
floating rate loan should not result in negative amortization. Under no circumstances the revised
EMI should be lower than the existing EMI.

3. The details of the loan shall be disclosed appropriately to the borrower at the end of each quarter
through account statement.

4. Interest charged during moratorium period/ till EMI start date to be repaid separately as & when
applied/charged to the account.

5. To keep the bank informed about changes in address (Residential/office) and place of posting
upon transfer of job/ change of employer etc.

6. Fore Closure Charges:

For Floating Interest Rate Loans: Nil

For Fixed Interest Rate loans: 0.65% p.a. on the outstanding loan amount for the remaining
maturity of the loan subject to max. 2.25% of the outstanding loan amount.

7. EMI amount shall be reset upon any increase in Rate of Interest OR the Repayment period shall
be extended automatically.

8. In case at any point of time it is found that any of the information provided to the Bank is
Incorrect/false and/or the loan to be availed is not utilised for the specific purpose for which it has
been lent, the Bank shall be at liberty to recall the advance forthwith irrespective of the
contracted terms of loan and charge penal/additional charges or take steps that may be deemed
fit by the Bank.

9. Post-dated cheques/ ECS mandate to be submitted for recovery of EMIs/ Interest.

10.For existing customers maintaining account with the Bank, undertaking to maintain adequate
balance & authority letter for recovery of EMI to be submitted to the Bank.

11.All applicable Bank charges (Processing/Documentation/Mortgage etc) shall be paid/ recovered

12.Acknowledgement of Debt & security document duly signed by borrower & guarantor to be
 submitted every year to the Bank.

13.The Bank has sanctioned the loan based on your declaration that “No action/case is pending
against the
 Borrowers/Guarantors in any court of Law and also no Insolvency proceedings are initiated against
anyone"

14.Borrower shall strictly comply with the Bank’s Policy on Responsible Financing. In the Event of
Failure to comply with the Said Policy or Any action/activities of Borrower is in violation of the
same, the bank shall be at liberty to Re Call the Credit Facilities / Refuse to grant facilities.

15.All applicable Bank charges (Processing/Documentation/Mortgage etc) shall be paid/ recovered

Borrower specific terms and conditions:

Please note importantly that the above conditions are basic general conditions and the advance shall be
governed by other normal terms and conditions of the bank governing advances.

Please return the duplicate copy of this letter duly signed by the borrower/s and guarantor/s in token of
having accepted the aforesaid terms and conditions. You may call on us for execution of security
documents and compliance of other related formalities in mutually acceptable / convenient working day
during the business hours, at an early date.

Yours
faithfully,
Bank of
India

Branch Manager

MALHARGANJ (8806) Branch

Received and accept the Terms and Conditions stipulated above.

1. Mrs. RITIKA VARMA

2. Mrs. mangala varma

3.