JOINT LIABILITY GROUP LOAN AGGREEMENT
Application Form No: 38116876
Branch : KORAMANGALA
Client id : SARSH97 Loan Cycle: 24 MONTHS
AGENT: ANJALI
Marital Status: MARRIED Mobile No:
Religion : Caste :
Education :UG Gender : FEMALE
Year of Birth : Occupation : BUSINESS
Loan Details
Loan Amount : Rs. 50,000.00/- Net Disbursement Amount: Rs.49,964.00/- Interest Rate (reducing balance): 16.75 %
Insurance Amount Paid : Rs. 1.680.00/- Processing Fee (inclusive of Taxes): 2 %
Disclaimer
I/We fully authorize to disburse our loan amount via any means of bank transfer after deducting the processing fees, however the
disbursement amount shall be deemed to be the sum of the disbursed amount plus the processing fees. We hereby confirm that in
the event of death of either of us, we hereby authorize Aditya Birla Finance Ltd to pay the insurance proceeds to the survivor of us,
after deducting the entire outstanding due to Aditya Birla Finance Ltd.
The contents in the loan documents have been read over and explained to us in our local language and we confirm that we have fully
understood the meaning and my /our legal obligations. We agree to abide and accept the same. We have voluntarily signed all the
loan documents in acknowledgement and confirmation of terms and conditions.
Documents to be submitted: Proof of Identity and Address, Demand Promissory Note and Group Loan Undertaking, Bank passbook,
Loan sanction cum repayment card.
Applicant’s Signature:
……………………………………..... …………………………………………
……………………………………..... …………………………………………
……………………………………..... …………………………………………
……………………………………..... …………………………………………
……………………………………..... ………………………………………..
……………………………………..... …………………………………………
1
DEMAND PROMISSORY NOTE AND GROUP LOAN UNDERTAKING
On demand, the undersigned, severally and/or jointly, promise to pay to the order of Aditya Birla Finance Ltd having its registered
office at 40, Basant Lok, Vasant Vihar, New Delhi, India, 110057, the amounts indicated against the names mentioned below for the
value received by the undersigned in any other electronic form on disbursement date as indicated in the passbook, together with
interest there on at the rate of 16.75 %, per annum reducing balance. All the parties to this Demand Promissory Note, severally and/
or jointly, on unconditional and irrevocable basis waive the presentment for paying, noting and protest of this Demand Promissory
note.
This Deed is made on 5TH of NOV, 2024, On behalf of the following
Client ID Group Client’s Names Group Client’s Names
SARSH98 1.
2.
3.
4.
5.
herein after called "Individual Borrowers-cum-Mutual Guarantors", (which expression shall be deemed to mean and include our
respective heirs, executors, administrators, and all persons deriving title from us) jointly and severally, of the ONE PART
In favour of Aditya Birla Finance Ltd a company incorporated under the Companies Act 1956, having its Corporate Office at # 402,
4th Floor, Neelkanth Corporate Park, Kirol Road, Vidyavihar (W), Mumbai - 400086 & Registered office 40, Basant Lok, Vasant Vihar,
New Delhi, India, 110057 (which expression shall be deemed to mean and include its successors in title and assigns) of the OTHER
PART.
WHEREAS
A) Each one of us above are Individual Borrowers of Aditya Birla Finance Ltd.
B) We are also jointly and severally Mutual Guarantors with respect to the repayment of our Individual borrowings to
Aditya Birla Finance Ltd
C) Each one of us is in need of loan and at our request and upon the execution of Individual demand promissory note by each
one of us, Aditya Birla Finance Ltd has agreed to grant to us a credit facility as per the terms & conditions mentioned in
the individual Demand Promissory Notes executed individually by each one of us.
D) One of the conditions for availing this credit facility is that, we voluntarily form this group of individual Borrowers-cum-
Mutual Guarantors, individual members of the group having been named herein above
NOW THEREFORE THIS DEED WITNESSETH
1) As individual Borrowers-cum-Mutual Guarantors, we hereby stand Guarantee for the full repayment of the loan extended to
each one of us by Aditya Birla Finance Ltd
2) In case of default on the part of any member of this group of individual Borrower-cum-Mutual Guarantors in repayment of
instalments, principal amounts, interest, service charges and any other charges that may be due to Aditya Birla Finance Ltd
or in regularizing or clearing the amounts as per the Demand Promissory Notes executed individually by us, we undertake
and guarantee that as Individual Borrowers-cum-Mutual Guarantors, who offer Guarantee collectively to our individual
loans, we shall remain responsible jointly and severally for/till all repayments made to Aditya Birla Finance Ltd.
3) The Demand Promissory Note executed by this group of Individual Borrowers-cum-Mutual Guarantors Individually, is an
integral part of this Deed
The above contents have been read over and explained to me/us in my/our local language and I/we confirm that I/we have fully
understood the meaning and my/our legal obligations, and I/we agree to abide and accept the same. I/we have voluntarily signed this
document in acknowledgment and confirmation of the above.
I We, the individual Borrowers-cum-Mutual Guarantors have hereunto respectively set our hands on the date mentioned above.
Agent Signature
2
LOAN SANCTION CUM REPAYMENT CARD
Registered Office: 40, Basant Lok, Vasant Vihar, New Delhi, India, 110057
Head Office: 402, Neelkanth corporate park, Kirol road, Vidyavihar (West), Mumbai -400086
Branch Code & Name: ABFL09675342 Centre Name: HOSAHALLI ___
Agent Name: RIHANA Loan A/c No 7999665433456
__
Client ID: STAR78 Relationship Manager Name: MOHAMMED A K
____
We are pleased to inform you that your application for loan under the (JLG) has been sanctioned. We will
disbursethe amount as per the details here under.
All Figures Inclusive of GST
Loan amount 50,000 Loan II
Cycle
Date of Disbursement 11 NOV 2024 Collection Date & Time
Loan Tenure 24 Month Loan Purpose/Sub Purpose
Life Insurance (Yes/No) Rate of Interest (Reducing
balance)
16.75 %
Repayment Tenure Monthly Processing Fee 1% +18%GST
Mediclaim ( Hospicash) Y/N
Loan Repayment Schedule:
Emi Collection Collected Customer
S. Amount Total Date Amount Presence
Sign(LO)
No Due Date outstanding (P/A)
.
15/ 12 / 2024 2,540.00 /- 15/ 12 / 2024
1
2 15/01/ 2025 2,540.00 /- 15/01/ 2025
3 15/02/2025 2,540.00 /- 15/02/2025
4 15/03/2025 2,540.00 /- 15/03/2025
5 15/04/2025 2,540.00 /- 15/04/2025
6 15/05/2025 2,540.00 /- 15/05/2025
7 15/06/2025 2,540.00 /- 15/06/2025
8 15/07/2025 2,540.00 /- 15/07/2025
9 15/08/2025 2,540.00 /- 15/08/2025
10 15/09/2025 2,540.00 /- 15/09/2025
11 15/10/2025 2,540.00 /- 15/10/2025
12 15/11/2025 2,540.00 /- 15/11/2025
13 15/12/2025 2,540.00 /- 15/12/2025
14 15/01/2026 2,540.00 /- 15/01/2026
3
15 15/02/2026 2,540.00 /- 15/02/2026
16 15/03/2026 2,540.00 /- 15/03/2026
17 15/04/2026 2,540.00 /- 15/04/2026
18 15/05/2026 2,540.00 /- 15/05/2026
19 15/06/2026 2,540.00 /- 15/06/2026
20 15/07/2026 2,540.00 /- 15/07/2026
21 15/08/2026 2,540.00 /- 15/08/2026
22 15/09/2026 2,540.00 /- 15/09/2026
23 15/10/2026 2,540.00 /- 15/10/2026
24 15/11/2026 2,540.00 /- 15/11/2026
4
MITC ( )
The Most Important Terms and Conditions (MITC) of the Micro Loan as mentioned below are agreed upon by the Borrower(s) and the Guarantor(s) and are to
beread and understood in conjunction with the terms hereinabove, as mentioned in the Joint Liability Group Declaration and other documents pertaining to the
loan.
1. The Borrowers should utilize the loan only for the income generation purpose. In case of any misutilisation of the loan or handing/transfer of the loan
amount to any other person, the borrower/ guarantors cannot disclaim the loan and it will be the sole liability of the Borrower/ all the guarantors to repay the
loan as perschedule.
2. FEES AND OTHER CHARGES: Pricing of loan involves only three components viz; interest charge, processing charge and insurance premium (which includes
administrative charges in respect thereof). No security deposit/ margin/ other charges are collected from the customer by us or through third parties.
PRE-CLOSURE CHARGES: No pre-payment/pre-closure penalty will be levied for the time being. The same is subject to change as per the RBI
guidelines. PENAL INTEREST: NIL, ** INSURANCE PREMIUM: As per customer request, OTHER FEE/CHARGES: As may be communicated, from time
totime.
Processing fees is non-refundable.
Insurance Premium is non-refundable, one-time premium amount. The Borrower(s) is/ are aware that the insurance cover is optional. The
Borroweris advised to go through the Insurance policy document in case insurance is availed.
3.Aditya Birla Finance Ltd (“The Company”) shall provide a moratorium for loan repayment equivalent to the period of one instalment.
4. The Company shall ensure that changes in interest rates and other charges are effected only prospectively.
5. REPAYMENT: The loan is to be repaid as per the Loan Instalment Schedule as mentioned hereinabove. The liability of the Borrower (s) towards the
Company shall be extinguished only when the outstanding in the loan account of the Borrower(s) becomes Nil including payment of residual amount, if any.
6. RENEWAL/ENHANCEMET/RESCHUDLE: The Company may at its sole and absolute discretion reschedule/renew/ enhance the limit of the loan granted to the
Borrower(s).
7. APPOINTMENT OF THIRD PARTIES: The Company shall without prejudice to its rights to perform such activities itself or through its officers of employees, be
entitled and have full power and authority to appoint one or more third parties as the Company may select or otherwise assign and to delegate to such third
party all or any of the functions, rights, powers relating to administration of the loan including the right and authority to collect and receive on behalf of the
Company from the Borrower(s).
8. LOAN RECALL: The Company reserves the right to discontinue the loan availed by the Borrower (s) and to withhold /stop any disbursement without giving
any notice to the Borrower(s) in case of any non-compliance/breach of terms and conditions stipulated herein as well as stated in the Micro Loan Application
Form and Group Declaration and other documents from time to time or if any information/particulars shall materially affect the repayment capacity of the
Borrower(s).
9. BRIEF PROCEDURE TO BE FOLLOWED FOR RECOVERY OF OVERDUE: In the Event of default i.e. if the amount due is not paid by due date, the Borrower(s) will
be sent reminders from time to time for payment of any outstanding on her loan account, by post, fax telephone, email SMS messaging and/or through third
parties appointed for collection purpose to remind, follow-up and collect dues. Any third party so appointed, shall adhere to the RBI guidelines and the code of
conduct on debt collection.
10. ASSIGNMENT: The Borrower(s) expressly recognizes and accepts that the Company shall be absolutely entitled and have full power and authority to sell,
assign, securitize or transfer in any manner, in whole or in part, and in such manner and on such terms as the Company may decide, (including reserving a right
to the Company to retain its power hereunder to proceed against the Borrower(s)) on behalf of the borrower.
11. The Borrower(s) are warned beforehand that taking of loan from multiple sources or more than required may lead to financial distress. The Borrower(s)
should not take loan from more than two MFI/Financial institution. The total loan liability of all the family members in the household should not exceed Rs.
1,25,000/-.
Signature / Thumb Impression of the
Agent(s)
Date: / /
Place:
