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Loan Sanction-Letter With kfs345937221866371454

This document is a sanction letter providing the terms and conditions for a loan of Rs. 5000 sanctioned to Palaka Prasanth by Vivriti Capital Private Limited. The key details include an interest rate of 36% per annum, processing fee of Rs. 330, loan tenure of 3 months with EMIs of Rs. 1768 due on the 5th of each month, and details on late payment penalties and the grievance redressal process. The net amount disbursable to the customer is Rs. 4645.

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Palaka Prasanth
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121 views4 pages

Loan Sanction-Letter With kfs345937221866371454

This document is a sanction letter providing the terms and conditions for a loan of Rs. 5000 sanctioned to Palaka Prasanth by Vivriti Capital Private Limited. The key details include an interest rate of 36% per annum, processing fee of Rs. 330, loan tenure of 3 months with EMIs of Rs. 1768 due on the 5th of each month, and details on late payment penalties and the grievance redressal process. The net amount disbursable to the customer is Rs. 4645.

Uploaded by

Palaka Prasanth
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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SANCTION LETTER

Date: 30/06/2023

Customer Name- Palaka Prasanth


Address- jiyyammavalasa mandalam,Vizianagaram,Chinamerangi
Chinamerangi, Andhra Pradesh - 535526

Dear Sir/Mam,
Please refer to your financial assistance application # for a loan/credit facility from Vivriti Capital Private Limited (“VCPL”)

We are happy to inform you that we have sanctioned a sum of < 5000 /-
against your application made through "Moneyview". The following are the broad Terms & Conditions governing
the financial assistance.

01. Loan Amount 5000


Rate of Interest % P.A
02.
(Annualized) 36.00 %
03. Tenure (Months) 3
04. Purpose Personal Loan

05. Processing fees 330


07. Disbursal amount Amount transferable to the customer* - 4645 /-

08. Overdue Interest Rate 2% per month on overdue amount


Lock-in Period / Foreclosure 6 months lock-in for loan tenure upto 18 months, 12 months lock-in for loan tenure
09.
charges greater than 18 months
10. Bounce Charges 500 will be added to pending EMI amount on every Bounced payment. This is in
addition to the Bounce charges levied by your bank
11. EMI Amount 1768

12. EMI Date 5th of every Month

* Amount transferable to the customer may reduce on account of Insurance Premium/ Pre-EMI charges,
depending upon date of tdisbursement.

Terms and Conditions:


1. The customer declares that he/she understands English language and has clearly understood the terms of this
Sanction Letter.
2. This offer is valid up to 30 working days from the date of issue. Charges & deductions applicable to this loan are as
mentioned in the application form and sanction letter.
3. The Borrower acknowledges and confirms that he/she is not registered with GST and the tax invoices for any fees
charged under this Sanction Letter will be provided by the Lender only upon his/her request for the same
Approach / factors considered for assessing gradation of risks for each customer are
a) Profile, financial stability and market reputation.
b) Credit history and duration of relationship.
c) Overall customer yield, future potential, repayment capacity based on cash flows and other financial commitments.
d) Interest, default risk in related customer segment.
e) RBI guidelines, other laws or any other factors on a case by case basis, as applicable.
f) Others (if any)

The factors considered for computing the interest rate have further been detailed in the Interest Rate Policy
of the Lender, which may be accessed here <https://www.vivriticapital.com/policies.html>

Any change in the terms and conditions including disbursement schedule, interest rates, service charges, prepayment
charges etc shall be intimated to the borrower from time to time via Email and shall be effectively prospectively only.

The details of the Designated Grievance Redressal Officer and the procedure for redressal of grievances of the Lender are as under:
The details have been placed on the website https:// www.vivriticapital.com/ Greivance_Redressal_Mechanism.pdf. The details of
the Designated Grievance Redressal Officer of the Lender is as follows (or as updated from time to time on the website as
aforesaid):

i. Name of the Grievance Redressal Officer/ Principal Officer: Ajit Menon, Head – Operations.

ii. Address: Prestige Zackria Metropolitan, No.200/1-8, 2nd Floor, Block 1, Anna Salai, Chennai 600002.

iii. Contact Details (Telephone/Email): 044- 40074801/ [email protected].

For Vivriti Capital Private Limited

This is a system generated letter and does not require any signature

Partner Registered office

Vivriti Capital Private Limited


Key Fact Sheet

Date: Lender's Name: Applicant Name:


Vivriti Capital Private Limited Palaka Prasanth

S.no Parameter Details

(i) Loan Reference No. MV134365580919

Loan amount (amount disbursed/to be disbursed to the 5000.00


(ii)
borrower) (in Rupees)
(iii) Rate of Interest (% p.a.) 36.00 %
Total interest charge during the entire tenure of the loan 329.00
(iv)
(in Rupees)
Other up-front charges (break-up of each component to
be given below) (in Rupees)

a) Processing fees (in Rupees) 330.00


(v) b) Insurance charges (in Rupees) 0.00

c) Broken Period Interest (BPI) (in Rupees) 25.00

d) Others (if any) (in Rupees)

(vi) Net disbursed amount ((ii)-(v)) (in Rupees) 4645.00


(vii) Mode of disbursement 4645.0 will be transferred to your account

Total amount to be paid by the borrower (sum of (ii), 5659.00


(viii) (iv) and (v - (a), (b) & (d))) (in Rupees)

Annual Percentage Rate - Effective annualized interest 79.62 %


(ix) rate (in percentage) (computed on net disbursed amount
using IRR approach and reducing balance method)

(x) Tenor of the Loan (in months/days) 3 Months

(xi) Repayment frequency by the borrower MONTHLY

(xii) Number of instalments of repayment 3

(xiii) Amount of each instalment of repayment (in Rupees) 1768.00

Details about Contingent Charges

Rate of annualized penal charges in case of delayed 24%


(xiv) payments (if any)

(xv) NACH/e-mandate bounce charges 500.00


Other disclosure
Cooling off/look-up period during which borrower shall
(xvi) not be charged any penalty on prepayment of loan 5 days*
(xvii) Lock-in Period 6 months lock in for tenure upto 18 months
12 months lock in for > 18 months

(xviii) EMI Due Date 5th of every month

(xix) Purpose of Loan Marriage


Details of LSP acting as recovery agent and authorized Whizdm Innovations Private Limited
(xx) to approach the borrower Moneyview
(xxi) Name, designation, address and phone number of
Venkatraman Narayan
nodal grievance redressal officer designated specifically
080 4569 2002
to deal with FinTech/ digital lending related complaints/
Moneyview, 2nd Floor, The Address,
issues Kadubeesanahalli, Bangalore, 560087
[email protected]

*Please refer to Money View Privacy Policy at https://moneyview.in/privacy-policy-loans.


*
*Please refer to EMI Calculator details at https://moneyview.in/emi-calculator/personal-loan-emi-
calculator
*Net Disbursement and other details as mentioned above in KFS may vary basis actual disbursement
date.

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