Date: 31-03-2024
To,
Avinash Satish Giri
S/o Satish Giri, . Jilha Parishad Shale G Samor, Sahyadrinagar,
, Maharashtra Chanai 431517,
Subject: Sanction letter/approval for Loan
Dear Mr. Avinash Satish Giri,
We are pleased to inform you that you are eligible for a loan facility from us as per the following terms :
Sr.No. Particulars Details
1. Agreement Number UPGRD0240661
2. Loan application date 31-03-2024
3. Loan Agreement date 31-03-2024
4. Details of the Lender K. M. Global Credit Private Limited
5. Name of the Borrower Avinash Satish Giri
6. Purpose of the loan Upskilling Edtech
7. (i) Transaction Amount ₹ 3,00,000.00/- (Rupees Three Lakh only )
(iii) Loan amount (amount
8. disbursed/to be disbursed to the ₹ 3,00,000.00 /- (Rupees Three Lakh only )
borrower)
(iv) Total interest charge during ₹ 1,57,082.00/- (Rupees One Lakh Fifty Seven Thousand Eighty Two
9.
the entire tenor of the loan only )
10. (v) Rate of Interest 18 % / (Reducing)
11. (vi) Net disbursed amount ₹ 3,00,000.00/- (Rupees Three Lakh only )
(vii) Processing fees (including
12. ₹ 5,310/- (Rupees Five Thousand Three Hundred and Ten only )
GST), if any
Total amount to be paid by the ₹ 462,392/- (Rupees Four Lakh Sixty Two Thousand Three Hundred and
13.
borrower (iv) + (vi) + (vii) Ninety Two only )
Annual Percentage Rate -
14. 18.84%
Effective annualized interest rate
Amount of each installment of
15. ₹ 7,618/- (Rupees Seven Thousand Six Hundred and Eighteen only )
repayment
16. First Installment due date 2024-05-05
Tenor of the Loan (in
17. 60 months
months/days)
Repayment frequency by the
18. Monthly
borrower
Number of installments of
19. 60 Installments
repayment
20. Prepayment charges Zero
Details about Contingent Charges
Rate of annualized penal charges
21. in case of delayed payments (if 54.75% on outstanding amount
any)
₹ 300/- per late payment OR dishonor of cheque/ECS/NACH per
Late Payments /Cheque /ECS
22. presentation. Two successive cheque bounces/ auto debit failure will
/NACH dishonoured charges
lead to loan recall notice being issued
Other disclosures
Cooling off/look-up period during
which borrower shall not be
23. 4 days
charged any penalty on
prepayment of loan
Details of LSP acting as recovery
24. agent and authorized to approach https://creditfair.in/list-of-lsp
the borrower
Name: Shraddha Mandlik
Name, Designation, Address and Designation: Grievance Redressal Officer Address: Grievance Redressal
Phone number of nodal grievance Officer K. M. Global Credit Private Limited 9,
redressal officer designated 902, Tower A, Naman Midtown, Senapati Bapat Marg,
25.
specifically to deal with FinTech/ Dadar West, Mumbai, Maharashtra 400028
digital lending related complaints/ Telephone no.: +91 9137504870
issues E-mail ID.: grievance@creditfair.in
https://creditfair.in/grievance-policy
We are collecting 2 undated cheques. One of Loan Amount & one
Undated Cheques & Cash Security Cheque of EMI Amount. Unused cheques will be shredded at
26.
Collection our end after successful repayment of the loan. Any cash collection
would include additional Rs 400 per pick up.
Name: [UPGRAD EDUCATION PRIVATE LIMITED ] (UPGRAD EDUCATION
PRIVATE LIMITED)
27. Details of the Merchant
Address: Ground Floor, 75, Nishuvi, Dr Annie Besant Road, Worli,
Mumbai City, Maharashtra, 400018
General Terms and Conditions registered on the 17/10/2018 with the
SubRegistrar of Assurances MUMBAI-3, Vide registration no. BBE-
3/8503/2018 in Book No. - Vol. No. -from pages 1 to 27 will be
28. General Terms and Conditions
applicable for the Loan availed by the Borrower. The same shall form
part and parcel of this Most Important Document
https://creditfair.in/privacy-policy
Merchant Refunds & Loan In case of a return of a purchase to a merchant, a cancellation charge
29.
Cancellations of 1.4% per month on outstanding principal would be payable.
The terms of this loan sanction shall also be governed by General Terms and Conditions, which you may kindly read before confirming your acceptance.
The said documents are incorporated here by way this reference, Borrower's acceptance to the terms of this letter and the General Terms and Conditions
should be informed to the Lender by submission of a signed copy of the Most Important Document with the terms understood by the Borrowers. Further,
each of the Borrowers shall be jointly and severely responsible for compliance to the terms of this loan sanction and for repayment of the loan amount
disbursed.
This sanction letter will only be a letter of offer and shall stand revoked and cancelled, if there are any material changes in the proposal for which the Loan
is sanctioned or; If any event occurs which, in our sole opinion is prejudicial to our interest or is likely to affect the financial condition of the Borrowers or
his / her/ their ability to perform any obligations under the loan or; any statement made in the loan application or representation made is found to be
incorrect or untrue or material fact has concealed or; upon completion of the validity period of 3 days of this offer unless extended by us in writing.
Principal Amount is ₹ 3,00,000.00
Best Regards,
Shraddha Mandlik
K. M. Global Credit Private Limited
Non Banking Finance Company . CIN No. U65999MH2018PTC308921
902, Naman Midtown, Senapati Bapat Marg Dadar west, Mumbai, Mumbai, Maharashtra, 400028
http://creditfair.in | ops@creditfair.in
