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Welcome

This welcome letter from Cholamandalam Investment and Finance Company Limited outlines the details of a loan sanctioned to Mohammad Raju Abdul Majid, including the loan amount of Rs. 760,000, an effective interest rate of 18%, and a tenure of 110 months. It specifies the disbursement date, pre-EMI, and EMI commencement details, along with various terms and conditions related to payments, charges for dishonor, and preclosure policies. The letter emphasizes the importance of timely payments and provides contact information for customer support.

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7 views

Welcome

This welcome letter from Cholamandalam Investment and Finance Company Limited outlines the details of a loan sanctioned to Mohammad Raju Abdul Majid, including the loan amount of Rs. 760,000, an effective interest rate of 18%, and a tenure of 110 months. It specifies the disbursement date, pre-EMI, and EMI commencement details, along with various terms and conditions related to payments, charges for dishonor, and preclosure policies. The letter emphasizes the importance of timely payments and provides contact information for customer support.

Uploaded by

nigamanshu777
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
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Welcome Letter

ML01LUK00000016940
MOHAMMAD RAJU ABDUL MAJID
108, VILLAGE KATI BAGIYA,
SARAI SAHJADI
Lucknow
UTTAR PRADESH
226401
PH :
Mobile: 8173963619

Dear Mr./Mrs. MOHAMMAD RAJU ABDUL MAJID


Ref:Your Agreement No: ML01LUK00000016940 Date: 18-05-2024

Greetings from Chola!!!


With reference to Your Loan sanctioned to you,
Further to your request for disbursment, the terms and conditions on which the loan is being disbursed are summarised
as below.

Loan Amount Sanctioned (Rs.) 760000 Type of Interest


Effective Rate 18.00 % Tenure (Months) 110
Installment Frequency Monthly Cheque Amount (Rs.) 724260
Disbursement Date 30-Nov-2021 Disbursement Amount (Rs.) 760000
Cumulative Disbursement Amount (Rs.) 760000

Pre EMI for the month of December : Rs.1874/-


EMI Commencement Date 05 DEC 2021 EMI Amount : Rs.0/-
Please issue CTS-2010 standard cheques as per RBI guidelines, for any banking transactions with Chola. Please note
this is a computer generated letter and hence requires no signature. Ps: All further communication to you would be at
the mentioned addrees. In case of any change in your contact details,please intimate us
Customer care unit
Cholamandalam Investment and Finance Company Limited
No. C-54, 55 Thiru VI Ka Industrial Estate, Opp to Mical, Guindy, Chennai - 600 032.
(CIN: L65993TN1978PLC007576) Please issue CTS-2010 standard cheques as per
RBI, for any banking transactions with Chola.
Toll Free No.:1800 200 4565 SMS Your Request to : 95000 00312

or email us at: [email protected]


We extend a warm welcome to you and assure you the best of our services at all the times.
With best regards,
Cholamandalam Investment and Finance Company Limited
(Please note this is a computer generated letter and hence requires no signature)
1. All payments should be made promptly on due dates. Please note that any delay from the due date to date of actual payment will
attract Additional interest at the rate of 3% per month.

2. For all NPDC Customers, field visit charges of Rs. 200/- will be debited per visit.

3. For PDC/ECS/ACH/AUTO DEBIT cases dishonour charges of Rs. 500/- per bounce and field visit charges of Rs.200/- per visit
will be debited.

4. Swapping of post-dated cheques issued, will attract a service charge of Rs.1000/-

5. Preclosure :(a) No preclosure is permitted within six months from the date of agreement. (b) For preclosure from 7 to 12 months
from the date of agreement a prepayment charge of 5% on principal outstanding plus service tax, will be charged. (c) Any
preclosure after 12 months from the date of agreement, a prepayment charge of 4% on principal outstanding plus service tax will
be charged. These are as per policy of the company and are liable to change.

6. All Taxes Payable on the above such as service tax etc., would be payable by the customer.

7. Statement of Account will be charged at Rs. 250/- and duplicate NOC will be charged at Rs.500/-.

8. In case of Dishonour of three or more PDC, exhaustion of PDC, expiry/rejection of ECS or such other mandate or disabled bank
account, NON PDC charges of Rs.1500/- shall be debited without further intimation and a field visit charges of Rs. 200/- per visit
would be applicable.

CIFCL is a Murugappa group Company. The Company, along with its subsidiaries offers individual and institutional customers a range
of financial services such as Vehicle Finance, Home Equity Loans, Capital Market Finance, Corporate Finance, Securities Broking,
Depository Services and Wealth Management Services. The Companys Shares are listed in Bombay stock Exchange (BSE) and National
Stock Exchange (NSE)

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