Scribd
Upload
31 views2 pages

9999 Sanction

The document is a housing loan sanction letter addressed to Mr. Sunilbhai Yuvraj Patil and Ms. Chandanben Patil, approving a loan of Rs. 4,000,000 under the Griha Prakash scheme with a tenure of 240 months and an initial floating interest rate of 8.50% per annum. It outlines the repayment terms, upfront fees, and conditions for loan disbursement, including the requirement for clear title and compliance with tax provisions. The letter invites the recipients to complete necessary formalities to expedite the loan disbursement process.

Uploaded by

Ashish kothari
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
31 views2 pages

9999 Sanction

The document is a housing loan sanction letter addressed to Mr. Sunilbhai Yuvraj Patil and Ms. Chandanben Patil, approving a loan of Rs. 4,000,000 under the Griha Prakash scheme with a tenure of 240 months and an initial floating interest rate of 8.50% per annum. It outlines the repayment terms, upfront fees, and conditions for loan disbursement, including the requirement for clear title and compliance with tax provisions. The letter invites the recipients to complete necessary formalities to expedite the loan disbursement process.

Uploaded by

Ashish kothari
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

sanctionLetter.

jsp Page 1 of 2

JEEVAN SAMRUDDHI GROUND FLOOR TIMALIAWAD NANPURA, SURAT-395001 Tel (0261)-2472194, 2473224

File No. : 6115009999 Date :23/08/2017


To,
MR SUNILBHAI YUVRAJ PATIL / MS CHANDANBEN PATIL
Plot No.72, OM SAI NAGAR NR OXFORD SCHOOL,
NR UDHNA,
SURAT, GUJARAT - 395001
Dear Sir/Madam,
We are pleased to inform you that we have 'In Principle' approved a HOUSING LOAN as per terrm and conditions
mentioned herein:
1. Scheme : Griha Prakash
2. Loan Amount : Rs. 4,000,000.00
: Rupees Forty Lakh only
3. Rate of Interest Type : Griha Siddhi
Current LHPLR : 14.00%

S.No Rate Type Tenure Spl.Offer Rate

1 Floating Rate 1-240 months 8.50%pa

The special offer rate of interest stipulated above shall be reviewed after three months from the date of first disbursement
and thereafter the interest shall be based on the LHPLR(subject to periodic review) as fixed by LICHFL from time to time
plus/minus the spread as above.
4. Term : 240 Months
5. Purpose : Purchase of Ready House
6. Repayment Terms-: :
6(a).Rest Frequency: : Monthly
6(b).Equated Monthly
: Rs. 34,713.00
Installment
: Rupees Thirty-Four Thousand Seven Hundred Thirteen only
6(c).No of EMIs : 240 Months
7. Total Upfront Fees :Rs. 5,000.00 + Taxes as Applicable
(Rupees Five Thousand only)
8. Commitment Fees : As applicable from time to time
9. Security : As may be decided by LICHFL at its sole discretion
: Under floating rate period, prepayment charges are not applicable.
Under fixed rate period, the prepayment charges will be Nil if paid from own sources
10. Fees on prepayment else 2.00% on the loan amount prepaid + Taxes as applicable
(The Company reserves the right to call for necessary documents as an evidence of
source of funds.)

Kindly make payment of non refundable upfront fees as mentioned in point No.(7) above through Cash/Cheque/Demand
Draft marked 'payee's account only ' in the name of 'LIC Housing Finance Ltd.'. In case you have already paid this
amount, kindly ignore this clause. Please sign the duplicate copy of this letter in token of your acceptance of the terms
and conditions as contained overleaf and contact us for execution of Loan Agreement and to complete the necessary
formalities.
The aforesaid sanction of the Loan amount will be subject to the following additional conditions:
SUBJECT TO: - (1).CLEAR TITLE (2).MODT EXECUTION (3).DOTD FORM (4). NACH/ECS/SAL DEDUCTION (5).
USUAL T/C OF SCHEME,
VERNACULAR U/T,
OTHER LOAN O/S 455673/- CLOSURE B/D,
OTHER LOAN O/S 365085/- CLOSURE B/D,
UPDATED BANKING,
CLARIFICATION FOR NOT HAVING CURRENT A/C WITH AM RECOMMENDATION.
Applicant/s to undertake compliance with the provisions of Section - 194-IA of the Income Tax Act, wherever applicable,
and submit proof of the payment.
We would be happy to expedite the disbursement of the loan and request you to contact our Office at SURAT to complete
the necessary formalities required by LICHFL.
We look forward to have a long lasting relationship with you.

Yours faithfully, I/We accept the above terms and condition

http://10.0.1.100/webmodule/rasReportViewer.do 24-08-2017
sanctionLetter.jsp Page 2 of 2

For LIC Housing Finance Ltd,

Authorized Signatory
Encl:As Above
2. MR SUNILBHAI YUVRAJ PATIL 1. MS CHANDANBEN
PATIL

Signature :
Place :
Date :

http://10.0.1.100/webmodule/rasReportViewer.do 24-08-2017

You might also like