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(Please write in BLOCK LETTERS. Complete the application & help us serve you better.)
I hereby apply to IDFC FIRST Bank Limited("the Bank") to grant me Two-Wheeler Loan as mentioned in this Application Form.
I furnish my particulars as mentioned below. 22 06 2025
D D M M YYYY
E-Mail ID: [email protected] Application No. 90017071106 Lead Source Name: DEA Location: DELHI
DST/SO Name and Code: MOHAMMAD SAJID 261396 RO/RM Name and Code: SHIPRA SRIVASTAVA 214922 DSA / Salespoint Name: REF CITIZEN MOTORS
Gender: Male Female Third Gender Date Of Birth: 07 06 2000 Mobile Phone: 7065680229
Mother's Name: Munne Devi Educational Qualification: Graduate Marital Status: Single Married Other
Voter Id No. /DL / Passport No. / Pan Card No / Aadhar Card No : XXXXXXXX5091 / CSCPG0489D Passport Expiry Date:
Customer Category: SALARIED Employer Name : Bilket pvt ltd Annual Gross Salary: 35000
Residential Status: Resident Individual Non Resident Indian Foreign National PIO Property Status: Own Company Provided Relative Rented
Type Of Organisation: Private Limited Company Nature Of Business: SERVICES Present Job/Business: 7M 3Y Years At Previous Job /Business: 0
Non-Profit Organisation: NA
Director Of Other Bank Yes Relative To Bank Director Yes Relative To Other Bank Director Senior Officer Of Bank Yes Relative Of Senior Officer Of Bank
Director Of Bank Yes No
No No Yes No No Yes No
BANK DETAILS
Bank Name: KOTAK MAHINDRA BANK LTD Bank Branch: OKHLA PHASE Account Type: SAVINGS
Brand: TVS MOTORS LTD Supplier Name: REF CITIZEN MOTORS Model: TW -SEG A
Sub Model: TVS JUPITER BS6 Model No: 109.7 CC Registration State: DELHI Registration City: SOUTH DELHI
On Road Price: 97000 Loan Amount: 61434 Margin Money: 38000 Tenure: 18 Advance Interest: 0
Asset registration Number: DL12ST0194 Manufacturing Date 01 07 2024 Registration Date 14 08 2024 Total KMs travelled: 12000 Ownership: 1
EMI: 4117.00 No Of Advance EMI: 0 PF With Tax: 885 Stamp Charges: 100.00 Valuation Amount: 95362.00
R.O.I: 24.63 Other Charges: 500.00 PDD Charge: 400.00 Pre EMI: 0.00
Admin Fee -800.00 Honda Accesories: 0 Insurance Charge =516 Funded Not Funded Sum Assured: 75000.00
Credit Vidya Charge =0 Funded Not Funded FG Charge =618 Funded Not Funded Sum Assured: 500000.00
Total Down Payment: 39385.00 DISB Amount: 57615.00 EBC Charge =0 Funded Not Funded
RSA Charges =0 Funded Not Funded GPS charges =0 Funded Not Funded
Address Line II: Mata mohalla Tekhand Okhla Phase 1 Address Line III: South Delhi
PRESENT
City: SOUTH DELHI District: State: DELHI Country: India
ADDRESS Nearest Landmark: Pincode: 110020 Yrs. In Current Address: 10
Address Line II: Near metro station Address Line III: Okhla phase 4
Off/Buss. Address
City: SOUTH DELHI District: State: DELHI Country: India
Address:
Address:
Applicant/Coapplicant Signature
Note: IDFC FIRST Bank Limited shall be entitled at its sole and absolute discretion to approve/ reject this Application Form submitted by Applicant/ Co-applicant. #
# The Two Wheeler Loan is available without other offerings. In relation to availing insurance from HDFC Standard Life Insurance, the Applicant shall deal with HDFC Standard Life Insurance directly
and IDFC FIRST Bank Limited does not assume any responsibility.
ACKNOWLEDGEMENT
The Bank would require a processing time of approximately 15 working days from the date of the completed application. This is subject to submission of all the documents as required by the bank. For any queries or suggestion,
please write to us at [email protected] or visit our nearest branch.
GST DETAILS: F 235 Okhla Industrial Estate Mata mohalla Tekhand Okhla Phase 1
South Delhi
GSTIN No.
That I have shared correct GSTIN.,hence separate verification of my GSTIN is not required and I shall not hold IDFC FIRST Bank Limited liable for loss of credit arising on account of
incomplete, erroneous or wrong GST details.
For all GST purposes the mailing address will be consider as place of supply i.e. GST address
Nominee Name: Munny Devi Nominee DOB: 08 04 1962 Relation with Applicant: MOTHER
If Nominee is Below 18 Years, Appointee Name: Appointee DOB: Relation with Applicant:
IMPORTANT INFORMATION
Loan Amount :As sanctioned & determined by credit appraisal process of IDFC FIRST Bank Limited.
:Rate of Interest is determined by credit appraisal process of IDFC FIRST Bank Limited. The risk gradation is based on inter alia the quantum and tenure of loan, the security offered by the customer, cost of
Rate of Interest
funds and the credit profile.
Charges :Applicable charges as per the schedule of charges valid at the time of loan approval. These are available at Sales Points
CHARGES
TWO WHEELER CHARGES CHARGE AMOUNT TWO WHEELER CHARGES CHARGE AMOUNT
Security Post Dated Cheque Waiver 0 Loan re scheduling charges (per re scheduling) NA
Other Charges (if applicable) Upto 2000 Inclusive of GST EMI Pickup/ Collection Charges 500 Excluding GST
Legal/Collections/ Repossession & Incidental Charges As per actuals Admin Fee (If Applicable) Upto 1200 Inclusive of GST
Valuation Charges (If Applicable) As per actuals Foreclosure / Prepayment charges 5% of principle outstanding amount Exclusive of GST
EBC & Push Card fee(if applicable) 530 Inclusive of GST PDD Charges Upto 2000 Inclusive of GST
IDFC FIRST Bank Limited ("the Bank") does not accept any payment either in cash or kind along with or in connection with its products at the time of applying for loan. Charges pertaining to Processing
fees and those prescribed in the aforementioned Schedule of Charges are the only charges levied by the Bank. The Bank and any of its directors, employees and/or officers shall neither be liable for
payment (if any) made in cash or kind nor shall also be held responsible for payment (if any) made to any third party.
DISCLAIMER
1. IDFC FIRST Bank Limited is collecting the Insurance premium on behalf of the insurer and liability to pay any claim is solely of the insurer.
2. The policy cover will commence from date of acceptance of your insurance proposal by the insurer.
3. If your insurance proposal is not accepted by the insurer, IDFC FIRST Bank Limited shall refund the premium or adjust it against your outstanding EMI/Loan Amount.
AUTHORISATION
I/We hereby submit voluntarily at my/our own discretion, the physical copy of Aadhaar card/physical e-Aadhaar / masked Aadhaar / offline electronic Aadhaar xml as issued by UIDAI (Aadhaar), to IDFC FIRST Bank for the purpose
of establishing my/our identity / address proof and voluntarily give my/our consent in connection with me availing the Financial Facility from IDFC and processing instructions for the said purpose and hereby give consent to IDFC for
verification of my Aadhaar to establish its genuineness through any such acceptable manner stipulated by UIDAI or under any Act or law from time to time. I/We have also been explained that submission of this document is not
mandatory. I/we have the option to submit any one of the documents as per the list of Officially Valid Documents (updated by the RBI from time to time)The consent and purpose of collecting Aadhaar has been explained to me/us
in local language. IDFC has informed me/us that I am/We are required to redact/ blacken out the first eight digits of Aadhaar number so that only last four digits of the Aadhaar number are visible; and in case I/We do not redact/
blacken out the first eight digits of Aadhaar number, I/We authorized IDFC FIRST Bank to redact/blacken out the Aadhaar number through appropriate means on my/our behalf”. IDFC has also informed me that this consent and my
Aadhar will be stored with IDFC.
I/We undertake and declare that if there are any changes in the particulars and information given by me/us while availing the Loan facility, I/We shall within 30 days from the date of any such change in the particulars and
information shall disclose the details of such changes to the Bank without withholding the same.
Except to the extent disclosed to IDFC FIRST Bank in writing, no director or a relative/near relation (as specified by RBI) of a director of a banking company (including IDFC FIRST Bank) or a relative/near relation (as specified by
RBI) of a senior officer of IDFC FIRST Bank (as specified by RBI) is the applicant(s), or a partner of our concern, or of our subsidiary, or our holding company, or a guarantor on my/our behalf, or holds substantial interest in our
concern or my/our subsidiary or holding company.
I hereby consent to receiving information from Central KYC Registry through SMS/Email on the above registered number/email address.
I hereby provide the consent to the Bank to pull my KYC details from CERSAI & PAN details from NSDL as and when required by the Bank for the compliance.
I authorise IDFC FIRST Bank Ltd. (“The Bank”) and/or its agents, in relation to my application to conduct credit checks, references, enquiries in its sole discretion and share and/or obtain information, records from any third parties,
as it may consider necessary and shall not hold the Bank (or any of its group companies or its/their agents/representatives) liable for use/sharing of this information.
I/We hereby authorize IDFC FIRST Bank Limited (“The Bank”) and its associates and agents to contact me/ us, for providing information about new products, offers, promotions etc and also for receiving feedback or surveys etc by
whatsapp, and expressly agree to exempt such actions by you or them for the purpose of Do Not Disturb guidelines issued by Telecom Regulatory and Development Authority (TRAI) or any other authority.
I/We hereby authorise IDFC FIRST Bank Limited (“The Bank”) and its associates and agents to contact me/ us, for providing information about new products, offers, promotions etc and also for receiving feedback or surveys etc by
way of email, sms, phone calls or by any other means of communication and expressly agree to exempt such actions by you or them for the purpose of Do Not Disturb guidelines issued by Telecom Regulatory & Development
Authority (TRAI) or any other authority.
I authorise the Bank to use the information provided in my application as it may deem fit and proper. The Bank is authorised to retain the documents submitted with the application without any liability to return the same to me.
I / We agree and understand the IDFC FIRST bank ltd reserves the right to reject any application in case I/we do not fit in the policy norms set by IDFC FIRST bank ltd.
I would like to avail the benefits of various IDFC FIRST Bank Limited loan offer schemes or loan promotional activities or any other promotional schemes and hereby authorize the Bank, its employees, agents, representatives and
associates to do so.
DOCUMENTS REQUIRED
• Photo identity proof* Passport, voters identity card, driving license, Aadhar Card
• Address proof* Passport, driving license, bank a/c statement, electricity/ telephone bill, adhaar card
Latest ITR, Latest Form 16, Latest salary slip/ certificate, Latest Audited Financials, Bank details with last 3
• Income proof*
months salary credited
The Application will be assessed quickly after receiving the required documents. Please quote the Application Reference Number mentioned in the slip for any
enquiry(ies).
* Requirement of documents might vary according to the scheme chosen.
TWO-WHEELER LOAN APPLICATION FORM
VERNACULAR DECLARATION
The contents of the Loan Application Form has been explained by me (the witness) to the Applicant/Co-applicant in _______________ (name of language in which the Applicant has signed) and the same has been understood by
the Applicant/Co-applicant.
_______________________________________________
Date: _______________
Place: DELHI
OSV
Employee Code: 261396 Employee Branch: DELHI Employee Designation: TW Sales Officer
Direct Agri: (Agriculturist/Farmer/Agri allied activities like, dairy farming, Poultry farming, fishery, bee-keeping etc.) – Loans up to 02 crore
Indirect Agri: Service units like trader, Dealers/sellers of fertilizers, pesticides, seeds, cattle feed, poultry feed, agricultural implements and other inputs – Loans 02 to 05 crore
Mfg. Service
Housing Loan:
(* Mfg. Enterprise – Investment in Plant & Machinery, Service Enterprise – Investment in Equipment’s)
Value of Property up to 35 lakh to 25 lakh in Metro & Non Metro Cities respectively
Weaker Section:
i. Individual women beneficiaries up to 1 lakh ii. Loans to: SC ST Others iii. Religion: Hindu Muslim Christians
NBRF318213092416 | CANA
IMPORTANT NOTE: Any cancellation and alteration must be countersigned by Life to be Insured. Please do not sign
blank Proposal form.
Options Life Option Extra Life Option Terminal Life Option Critical Life Option 1
Critical Life Option 2 Critical Life Option 3 Critical Life Option 4 Life Disability Option
Master Policy Holder Name: IDFC First Bank Master Policy Holder Policy Number: PP000218
Applicant Status: Primary Borrower Co Borrower Joint Life (additional form to be filled for joint life) Moratorium Period(month): NA
ABHA (Life to be Assured) _____________________________ ABHA (Co-Borrower/Joint Life) _________________________ Declaration for Ayushman Bharat Health Account (ABHA) : I/we willingly grant my/our explicit
consent to HDFC Life Insurance Co. Ltd. to collect, store, process, transfer and archive my/our ABHA (Ayushman Bharat Health Account) information. Furthermore, I/we authorize the sharing of this information with HDFC
Life Insurance Co. Ltd.'s reinsurers and their third-party vendors for various purposes including but not limited to underwriting, claims processing, risk assessment, fraud prevention, customer service and outsourced activities
linked to the insurance services to be rendered to me by HDFC Life Insurance Co. Ltd. I/we acknowledge that I/we have the right to opt out of this consent at any time by contacting HDFC Life Insurance Co. Ltd.
PAN: CSCPG0489D
Address for communication: F 235 Okhla Industrial Estate Mata mohalla Tekhand Okhla Phase 1 South Delhi SOUTH DELHI 110020 DELHI
City: SOUTH DELHI State: DELHI Pincode: 110020 Nationality: Indian Non Indian
Resident Status: Resident NRI/PIO/OCI (If you are NRI/PIO/OCI / Student Studying Abroad please attach appropriate Questionnaire)
Country of Residence: India Mobile Number: 7065680229 Email Id: [email protected]
Education: Post Graduation Graduate | Diploma 12th Pass 10th Pass Below 10th Illiterate
Present Occupation: Salaried Self Employed Professional Armed/Police Forces Agriculture Fire Service Retired Student Housewife Unemployed Merchant Marine
(if you are working in the Navy / Police / Army/Air force / Fire Service, Merchant Marine please attach appropriate questionnaire)
Nominee/Appointee:
Full Name Date of Birth Relationship Share %
Appointee 1:
Yes No
I understand, agree and confirm that these statements and this declaration are basis of the contract between the insurer and the policyholder.
Subject to Section 45 of the Insurance Act 1938 as amended from time to time, if any untrue statements are contained herein or there has been
any non disclosure of any material fact, the policy to be issued by the insurer in the name of the policyholder may be treated as void as far as I am
concerned.
I confirm that I have read and understood, the rules and any additional rules of the plan, the standard policy provisions and any additional
provisions that govern the policy to be issued by insurer in the name of the policyholder and on my life, and I agree and confirm that the same
shall be binding on me.
I authorise the policyholder to disclose to the insurer such particulars as they may require including the details given above and any changes to
the same, pay the premium payable on my behalf /collected from me to the insurer.
I understand that any statutory levy or charges including any indirect tax may be charged to me either now or in future by the insurer and I agree
to pay the same
I understand that HDFC Life Insurance Company Limited (HDFC Life) has the right to reject a proposal without giving reasons thereto and confirm
to give an undertaking that I shall not raise any claims thereof.
I understand the significance of the contract and that the contract will be governed by the provisions of the Insurance Act 1938 as amended from
time to time and that the same will not commence until written acceptance of this application issued by the insurer on its normal terms and
conditions is received.
I further agree that if after the date of submission of the proposal but before the issuance of Policy (i) there is an adverse change in my
occupation, financial condition, health condition, which will affect the decision of the Company in underwriting risk or (ii) if the proposal for
assurance or an application for revival of the policy made to any insurer on my life or the Life to be assured is withdrawn or dropped, deferred,
declined or accepted on terms other than as proposed, I shall forthwith intimate the same to the company in writing and failure to do so shall lead
to a decision as per the applicable terms and conditions of the policy.
I hereby declare that the content of the form and document has been fully explained to me and I have fully understood the significance of the
proposed contract.
I understand and agree that in case any error, omission, incorrect information, blank forms, etc. are detected at the claim stage because of lapses
on the part of the scheme member, such claims shall be treated as invalid by the insurer and the claim payout shall not be processed.
I understand that any If any of the requirement/s raised by the insurer including further requirements pertaining to medical
tests/reports/investigations are not completed within three months from the date when the member enrolment details were shared by the Master
Policy Holder (MPH) with the insurer, the received premium amount for the said enrolment, would be refunded and the respective member's
enrolment shall be deemed as withdrawn.
I declare and hereby consent and authorize the Company or any of its authorized representatives to seek medical information from any doctor or
from a hospital who at anytime has attended me or from any past or present employer concerning anything which affects my physical or mental
health and seeking information from any insurance company to which an application for insurance has been made for the purpose of underwriting
the proposal and /or claim settlement.
In an event of change in age from the declared age before the Risk Commence Date, the Sum Assured may be revised to adjust for the possible
premium shortfall.
I acknowledge that, in conjunction with obtaining the loan from the Master Policyholder, i am taking an insurance cover from HDFC Life to
safeguard myself against a loan default on the occurrence of any contingent event as covered under the COI issued to me. Further, i hereby grant
explicit consent to the MPH for including the insurance premium amount payable by me in the loan EMI (subject to confirmation by MPH) and
paying it directly to the Insurance company.
Place: SOUTH
DELHI
Declaration made by Declarant where Life to be Assured has:
a) Affixed his/her thumb impression; OR b) Signed in vernacular; OR c) Not filled the application
“I hereby declare that I have fully explained the above questions and contents of the Member Enrollment Form to the Member and the Joint Life Assured (if any) and I have truthfully recorded the answers given by the Member and
the Secondary / Joint Life Assured (if any) and that the Member and the Secondary / Joint Life Assured (if any) has affixed the thumb impression above after fully understanding the contents thereof.”
“I certify that the contents of the form and documents have been fully explained to me by Mr. / Mrs.: Vikash Om and I have understood the significance of the
proposed contract.
Declaration made by Legal Guardian where Life to be Assured is a minor: I hereby declare that the content of the form and document filled up by the Life to be Assured is accurate and true to my/our knowledge.
Signature/Thumb impression(Witness):_____________
__________________________ Address of the Witness:__________________
Signature/Thumb impression Date: __________________ Place: __________________
Assignment as per Section 38 of The Insurance Act, 1938 as amended from time to time
I do hereby declare that I have received a loan from M/s IDFC FIRST Bank (“Master Policyholder”). In order to secure the said loan, I hereby agree to assign the insurance cover provided to me under the above referenced
Master Policy and the Certificate of Insurance in favor of the Master Policyholder as per Section 38 of The Insurance Act, 1938 as amended from time to time. The said assignment is to the extent of the outstanding loan amount as
per outstanding loan schedule to be issued by the Master Policyholder on the date of occurrence of the contingent event. I hereby agree and confirm that I shall inform my beneficiary/ nominee about the existence of this
assignment.
Digital signature of co-applicant is affixed w.r.t. the loan application & is not applicable for insurance MEF.
HDFC Life Insurance Company Limited (HDFC Life). CIN: L65110MH2000PLC128245. IRDAI Registration No. 101.
Regd. Off: 13th Floor, Lodha Excelus, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai - 400 011.
For queries or more information, call us on 1860-267-9999 (Local charges apply) | 022-68446530 (STD charges apply).
Available Mon-Sat from 10 am to 7 pm. DO NOT prefix any country code e.g. +91 or 00. |
Email – [email protected] | [email protected] (For NRI customers only) Visit – www.hdfclife.com
FGH/UW/GRP/45/01
1) I agree that the proposal is the basis of this agreement between me & Future
Generali India Insurance Company Limited.
2) I hereby declare on my behalf that the above statements, answers and/or
particulars given by me are true and complete in all respect to the best of my
knowledge.
3) I agree to follow the terms & conditions including any changes in the Policy.
4) In Case of non-declaration of material facts or fraud, there would be no refund of
premium paid.
5) I agree to submit all required documents for the claim processing.
6) I hereby give consent to Insurance Company to pay the claim amount up to the
outstanding loan amount to the financer and balance (Total sum insured minus
outstanding loan amount) to the named nominee as stated in this form.
I have read all the terms and conditions & agree for the same
Insured's Signature----------------------------------------------------Date-------------
(Please write in BLOCK LETTERS with Ball-Point Pen only)
SCHEDULE
Loan Agreement No. 90017071106 Agreement Date Sun Jun 22 08:23:40 GMT 2025
I have Seen and Verified the Orignal Documents and found them to be okay. This is okay to be proceeded under
Disbursal Declaration
Scan Based Disbursal mode.
Vikash Om, F 235 Okhla Industrial Estate Mata mohalla Tekhand Okhla Phase 1 South Delhi SOUTH DELHI, DELHI 110020 - Property Status:
Borrower
Owned
Co-borrower
Guarantor
LOAN DETAILS
CHARGES
TWO WHEELER CHARGES CHARGE AMOUNT TWO WHEELER CHARGES CHARGE AMOUNT
Late payment/Penal charges/ Default interest/Overdue 2% per month (Inclusive of GST) of the unpaid EMI or Part Payment charges Part Payment is not allowed
(per month) Rs 300 (Inclusive of GST) whichever is higher Duplicate No Objection Certificate Issuance Charges Up to 500 Exclusive of GST
Other Charges (if applicable) Upto 2000 Inclusive of GST Admin Fee (If Applicable) Upto 1200 Inclusive of GST
Security Post Dated Cheque Waiver 0 PDD Charges Upto 2000 Inclusive of GST
Valuation Charges (If Applicable) As per actuals EBC & Push Card fee(if applicable) 530 Inclusive of GST
Legal/Collections/ Repossession & Incidental Charges As per actuals Switching Charges Rs 1000 Including GST
VEHICLE DETAILS
Engine No. DG5GR3X11553 Chassis No. MD626CG58R3G27658 Vehicle Registration No. DL12ST0194
IDFC First Bank Limited (“the Bank”) does not accept any payment either in cash or kind along with or in connection with its products at the time of applying for
loan. Charges pertaining to Processing fees and those prescribed in the aforementioned Schedule of Charges are the only charges levied by the Bank. The Bank
and any of its directors, employees and /or officers shall neither be liable for payment (if any) made in cash or kind nor shall also be held responsible for payment
(if any) made to any third party.
We Agree:
_________________________ _________________________ _________________________
__ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __
__ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __
Payment instruction for Vehicle(s) loan availed from IDFC FIRST Bank Ltd.
I/We hereby request that the full amount of the Vehicle(s) Loan (after deducting the premium amount and any charges as applicable there from) that you agreed to
grant to me for purchase of Vehicle(s) Mentioned above, be disbursed (paid) to the respective Seller/Vendor/Borrower whose name and address has been also
mentioned above. I/We agree that we will be guided by the terms and conditions pertaining to the payment to dealer as mentioned in the agreement.
I/We confirm having booked the Vehicle(s) from the above Seller/Vendor and would be taking delivery of the same from the Seller/Vendor.
I/We hereby authorize IDFC First Bank Ltd.(“the Bank”) to disburse/pay the Vehicle(s) loan amount (after deducting the insurance premium amount and any
charges as may be applicable there from) directly to the Dealer(s), whose name, address and a/c number are mentioned above, as per the terms of the
agreement. I/We also authorize the Bank to pay the Dealer(s) (from the charge/s paid by me/us) any amount that you may consider appropriate for processing the
loan application, assisting you in perfecting your security interest in the Vehicle(s).
I/We confirm that in case of any cancellation of purchase of above Vehicle(s), I/We authorize and instruct the above Dealer(s) to refund the booking money to you.
Borrower Signature
Borrower Name Vikash Om Affix
__________________
Common
Seal of the
Co-Borrower(s)/Signature
Company
Co-Borrower(s)/ Name
__________________
In case of companies, common seal to be affixed in accordance with the Articles. In case of partnership firms, authorized partner to sign.
In case of sole proprietary concerns, sole proprietor to sign.
SURRENDER LETTER
Date:
Location: DELHI
To,
IDFC FIRST Bank Limited ("the Bank")
DELHI
l/ We hereby voluntarily and without coercion - from anyone, surrender the above described vehicle to the Bank or its agent in accordance with rights vested with
the Bank under the Loan Agreement executed between us, whose terms and condition are/were breached/defaulted in payment under the Loan agreement. l/ We
hereby confirm that there is no cash or other valuables in the said vehicle whose possession is being taken as aforesaid.
Borrower _____________________________________________
Co-Borrower _____________________________________________
LD/VL/AOH Digital/June 2024/v1
AGREEMENT OF HYPOTHECATION
This Agreement (“Agreement of Hypothecation”) made on the Effective Date hereto between the person(s) named in the Schedule II to this Agreement as “Borrower” and “C
requires, include his/her/their heirs, executors, administrators, successors, members and permitted assigns) of One Part; AND
IDFC FIRST BANK LIMITED, a company registered under the Companies Act, 2013 and a banking company within the meaning of Banking Regulation Act, 1949 and havin
specified in Schedule II hereto (hereinafter called “the Bank” which expression shall, unless it be repugnant to the subject or context thereof, include its successors and ass
The Borrower and the Bank are hereinafter collectively referred to as ‘Parties’ and individually as the ‘Party’.
WHEREAS, the Borrower has/have approached the Bank for grant/sanction of loan for the amount and the purpose as stated in the Schedule II hereto which the Bank, has
Loan to be made by the Bank to the Borrower.
NOW, THESE PRESENTS WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS
1.2. Unless a contrary indication appears, any reference in this Agreement to:
a) Any expression not defined herein but defined in the General Clauses Act, 1897, the meaning or interpretation assigned to such expression
b) A person includes any person, firm, company, corporation, government, state or agency of a state or any association, trust or partnership (w
c) The singular includes the plural (and vice versa);
d) Reference to the masculine gender includes references to the feminine gender and the neuter gender and vice versa.d to such expression
e) The Sanction letter shall be read in conjunction with the provisions of this Loan the said Sanction Letter, also the Bank/ shall be entitled to a
same on its website, either on its own accord or as may be required by any Statutory Authority.
f) Unless the contest requires or otherwise specially mentioned, reference to the Borrower shall include Co-Borrower as well.
g) In the event of disagreement or dispute between the Bank and the Borrower regarding the materially or reasonableness or any matter inclu
or otherwise, the opinion of the Bank as to the materially or reasonableness of any of the forgoing shall be final and binding on the Borrowe
f) The Borrower is aware of the First EMI start date i.e., 3rd or 5th of every month, depending upon the date of disbursement. The Borrower is
date of disbursement. The Borrower acknowledges that Borrower shall not raise any dispute to aforesaid calculation.
g) In case of pre-owned and new car loans, the Borrower is aware that the effective, interest rate calculation shall start from date of disbursem
h) The Borrower agrees that Bank may deduct Pre-EMI Interest amount from the loan amount.
i) Borrower is aware that penal charges means charges which the Bank shall impose for delay in payments by the Borrower. Said charges sh
amended from time to time by the Bank. It is further specified that penal charges as set out in the Schedule Of Charges are without prejudic
2.3. Fees/Charges/Costs
a) The Borrower(s) has/have paid/agreed to pay on or before the disbursement of the Loan to the Bank such charges as mentioned in Schedu
b) The Borrower agrees and covenants with the Bank to promptly pay (a) the applicable stamp duty on this Agreement and also on such other
and other charges whatsoever in relation to this Agreement, the Loan, the Vehicles and/or the Security or any other charges or benefits und
or paid by IDFC) in relation to this Agreement and/or any Security including those incurred for repossession and/or sale of Vehicle and/or a
claim the same from the Borrower and the same shall form part of the Loan.
3. DISBURSEMENT
3.1. The Bank shall, subject to the provisions of this Agreement and unless agreed between the Borrower(s) and the Bank otherwise, disburse the Loan by issu
i. to the seller or vendor towards the payment of the purchase price of the Vehicle(s) from whom the Vehicle(s) is being purchased utilising th
ii. in the name of the previous financier towards the repayment of the previous loan to be taken over by utilising the Loan; or
iii. in the name of the Borrower, at the discretion of the Bank.
iv. In tranches if applicable, such tranche disbursements may be treated as a separate loans and for each such separate loan a new loan acco
disbursement to the Borrower(s).
The disbursement made as above shall be deemed to be a disbursement to the Borrower(s).
3.2. The Bank may not disburse at any time, any amount under this Agreement unless the following conditions are complied by
a) This Agreement is duly executed and delivered to the Bank by the Borrower;
b) The Borrower satisfies the Bank of the Borrower’s claim/title over the -Security;
c) The Borrower’s submission to the Bank, post-dated cheques as security or towards repayment instalments; in case of failure of NACH Man
d) Any other document or writing as the Bank may require in its sole discretion.
e) Borrower fails to pay own contribution amount/ margin money.
4. REPAYMENT
4.1. The Loan (including the principal and interest thereon) shall be repayable by the Borrower to the Bank as per the Repayment Schedule mentioned hereund
payable under this Agreement and to observe its terms and conditions;
4.2. No notice, reminder or intimation will be given to the Borrower regarding the Borrower’s obligation to service the Loan/ other dues under this Agreement on
4.3. Notwithstanding anything to the contrary contained in the present, the Borrower agrees that the Bank shall have the right at any time or from time to time to
at its sole discretion decide. The Borrower also undertakes and agrees to pay the interest on the Loan, free from any deduction whether on account of tax o
4.4. The Borrower hereby agrees, accepts and consents that the EMI start and End dates might change due to whatsoever reason and communication for that e
4.5. Delay in payment of EMI/Pre-EMI etc.
a) In the event of default / delay in payment of EMI/Pre-EMI or any amount under this Agreement, the Borrower shall pay penal charges.
b) If required by the Bank, the Borrower shall at its own cost create additional security interest in such form and manner as stipulated by the B
4.6. The Borrower agrees, declares and confirms that, notwithstanding any of the provisions of the Indian Contract Act, 1872 or any other Law, or any terms and
under this Agreement or otherwise, towards the dues payable by the Borrower to the Bank under this Agreement and/or other agreements entered into betw
4.7. The para banking services provided by the Bank to the Borrowers for financial products shall be strictly on a non-risk participation basis.
4.8. Borrower shall be liable to pay the Interest on outstanding loan balance for the duration it remains outstanding. Further, such Interest calculation shall comm
of handover of the cheque.
4.9. Notwithstanding anything to the contrary contained in this Agreement, Borrower is aware that insurance is non-mandatory and offered only to customer who
Insurance Company and the certificate of insurance (if received/issued) will remain cancelled/ revoked by the said Insurance Company. Bank may receive t
https://www.idfcfirstbank.com/personal-banking/investments-and-insurance under Insurance Tab.
4.10. Bank may receive the commission / fees for solicitation of insurance products (if any) and same will be available on Bank website https://www.idfcfirstbank.
4.11. Post Dated Cheque (PDC) / Standing Instruction (SI)/Electronic Clearing System (ECS)/National Automated Clearing House (NACH):
I. The Borrower understands, agrees and unconditionally consents to extend existing Mandate (which was provided in existing loan/facility) in
II. All the payments, if the Bank so decides, may be collected through PDCs which shall be handed over at Branch and submission of such PD
dates. The Bank shall have the authority to fill and finalize all such instruments. The expression PDC shall wherever the context so requires
III. The Borrower shall submit with the Bank such minimum number of PDCs as may be prescribed by the Bank from time to time. Such PDCs
liability to pay the said sums hereunder until the PDC is duly realized.
IV. It is expressly agreed and understood that the Borrower shall at no time issue any communication to the Bank for stopping or postponing th
of this Agreement.
V. The Borrower agrees in the event of any dishonour of PDC / SI / ECS/ NACH instruction the Borrower agrees to pay a dishonour charges a
that the Borrower(s) shall forthwith issue fresh PDCs/ ECS/SI/NACH instructions or make direct payment to the Bank as may be required by
i. The date of payment of EMI or any other amount payable under this Agreement;
ii. The amount of interest, principal or EMIs;
iii. The numbers thereof; or
iv. The value of the Vehicle(s), or if otherwise required by the Bank,
VI. If the Borrower(s) at any time during the tenure of the Loan, wishes to replace any PDC with another for whatsoever reason then the Borrow
discretion.
VII. The Borrower hereby undertakes that the Borrower shall not close the account on which the PDC/SI/ECS is issued and shall not change the
Further, the Borrower hereby undertakes and confirms that PDC/SI/ECS/NACH mandate issued under this Loan Agreement shall continue
Borrower from the Bank, and/or its affiliates are fully discharged and the Bank/ group companies are fully discharged and the Bank and/or it
shall not be affected impaired or discharged. The Borrower covenants that the PDC/SI/ECS/NACH provided by the Borrower shall remain v
VIII. Notwithstanding anything to the contrary contained in this Agreement and irrespective of the mode of repayment selected by the Borrower,
entitled, without prejudice to its other rights under the Agreement or law, to present and/or re-present the PDC issued by the Borrower(s) in
IX. The Borrower shall not demand any return of the PDCs or any other documents provided to the Bank in relation to the Loan at any point of
4.13. The Borrower understands, acknowledges and agrees that the Facilities are uncommitted facilities, are recallable by the Bank at any time and may be canc
disbursal of the facility should not be construed as giving rise to binding obligations on the part of the Bank to provide the facility mentioned aforesaid. The F
the basis of this sanctioned facility.
5. HYPOTHECATION
a) In consideration of the Bank having granted or agreed to grant to the Borrower the Loan subject to the terms and conditions mentioned here
Schedule II hereunder to secure the repayment of the Loan, interest, fees, costs, charges and expenses and all other amounts payable by t
b) The Borrower(s) shall be solely and exclusively responsible for the quality, condition, fitness, and performance of the Vehicles(s)/Hypotheca
liable or responsible for any delay in delivery (or non-delivery of the Vehicle(s) or for any defector variation in the quality, condition or fitness
c) The Borrower(s), wherever it applicable, shall register the Vehicle(s) under the Motor Vehicles Act, 1988 and the appropriate authority (Auth
made clearly indicating the fact that such Vehicle(s) is/are exclusively charged in favour of the Bank. Wherever required/applicable (such as
using the Vehicle(s) across/in the State or area in which such Vehicle(s) is/are registered. More specifically, in consideration of the Loan, th
Borrower(s) shall utilize the entire Loan for the purpose mentioned under this agreement and for no other purpose whatsoever.
d) The Borrower(s) shall affix plates/ stickers on the Vehicle(s), indicating the fact of charge of the Vehicle(s) in favour of the Bank, and retain
e) The Borrower(s)shall keep the Vehicle(s) in sound working and repair condition under the Borrower(s) own possession and control. The Bo
without prior consent of the Bank.
f) The Borrower/s shall keep the Vehicle(s) free from any and all liens, charges, and encumbrances whatsoever, save and except for the first
sell, assign, transfer, hire, lease, let out or otherwise part with possession of the Vehicle(s) in any manner what so ever.
g) The Borrower(s) shall take consent from the Bank for removal of the Vehicle(s) beyond territorial borders of the State in which the Vehicle(s
h) The Borrower(s) shall permit the Bank (and any of its representatives), at all times, to inspect, view and examine the state and condition of
an inspection as deemed fit by the Bank in relation to the Vehicle(s).
i) The Borrower(s) shall comply with all laws, rules, and regulations (statutory or otherwise) relating to the Vehicle(s) and its use and shall obt
operation of the Vehicle(s). In cases where the Vehicle(s) is/are to be imported, the Borrower/s shall obtain all necessary import licenses an
j) The Borrower undertakes that Vehicle(s) shall not be used or put to use for any unlawful or illegal purposes such as smuggling of goods, ar
k) The charge created by the Borrower in clause herein above shall stand as security for the repayment and payment by the Borrower of the lo
hereunder and all other monies payable or to become payable by the Borrower to the Bank pursuant to the terms hereof.
l) The charge herein created shall continue unless and until the Bank shall issue a certificate discharging the security created herein and shal
reconstruction, take over of the management, dissolution or nationalization ( as the case may be) of the Borrower.
m) The charge hereunder created shall remain in full force so long as all the repayments and payments mentioned in clause (4) are not made.
n) The hypothecation shall be deemed to take place immediately on signing of this agreement or delivery of the Asset(s) as the case may be,
o) The Bank shall be entitled to call upon the Borrower and the Borrower shall be liable to furnish to the Bank additional security as decided by
p) The Borrower shall, if required by the Bank:
i. Comprehensively insure and keep insured the Vehicle(s) with an insurance company against loss by fire, earthquake, floods
ii. Obtain insurance cover against the risk of death and injury to the Borrower(s), with the Bank as sole beneficiary or the first lo
iii. Any security (ies) furnished by the Borrower(s), under any other agreement entered into or to be entered into with the Bank,
offered in respect of this Loan shall be deemed to be continuing security (ies) in respect of other loan(s)/facility (ies) obtained
satisfaction of the Bank.
The Borrower(s) agrees, confirms, and acknowledges that any default by the Borrower(s) under any other agreement or arrangement or guarantee or secu
vice-versa. The said amounts shall be deemed to be due and payable under this Agreement secured by the Security and vice-versa.and Borrower agrees t
security or other indebtedness of the Borrower(s) with the Bank or its subsidiaries affiliates shall constitute an event of default under this Agreement, then th
8.3. The Borrower shall ensure that neither the Borrower nor any director/partner/member/trustee/person being in charge of the management has been declared
the Borrower shall take expeditious steps for removal of such person.
8.4. The Borrower is aware that, in case any of his director/partner/member/trustee/ person being in charge of the management has been declared a wilful defa
1. The Borrower understands and agrees that, in case the loan account is classified as red-flagged account, the Bank shall conduct an audit a
2. The Borrower shall co-operate with the said audit and shall provide required information, documents, etc. to the Bank or any person appoin
3. In case, the Borrower does not co-operate for conducting such audit, the Bank shall conclude the account as fraud, without giving further no
The Bank may at its absolute discretion appropriate any payments made by the Borrower under this loan Agreement towards repayment of any other loan o
Borrower and such adjustment and/or appropriation shall be final and binding on the Borrower and the Borrower shall continue to remain liable to the Bank
outstanding dues under any other loan this Agreement or transaction entered into by the Borrower with the Bank or towards another Indebtedness of the Bo
Bank post appropriation/ adjustment of the sale proceeds consequent of proceeds has the power to upon sell/transfer or otherwise disposal of any and/or a
Agreement, or deposited with Bank or under its possession or control and appropriate the same towards satisfaction/repayment of any other loan/ amounts
the Borrower.
The bank shall be deemed to have and hold and continues to have first charge on any assets including any deposit on which security has been/will be crea
security or charge created for the Loan shall be available to the Bank also in respect of such other Liabilities, irrespective of the fact whether the Loan is at
In event of any third party, including any statutory authority or court of law asserting any rights over any of the deposits, monies, securities and assets place
party only such deposits, monies, assets and securities placed with the Bank as would be available after setting aside deposits, monies, securities and asse
actual or contingent.
If any of the Borrower Entities have more than one agreement with or have availed any other facility from the Bank of whatsoever kind and if in any of the c
Hypothecated Asset (as security for all such liabilities of the Borrower Entities/persons including under this and other agreements, and to act accordingly) o
from any charge under such loan facility.
The bank has the exclusive right and sole discretion to appropriate all amounts received from the Borrower towards any of the agreements that the Borrowe
a particular agreement or liability thereunder.
The Bank shall have right to apply and/or appropriate and/or set off any credit balance of the Borrower(s) or any monies/assets (including but not limited to
under this agreement or any other agreement upon occurrence of the event of default. Exercise of any such right shall be binding on the Borrower(s).
14. MISCELLANEOUS
14.1. SERVICE OF NOTICE
The addresses of the Parties shall be as mentioned under the Schedule II. The Borrower shall forthwith inform the Bank of change in address, if any. Any n
email, and sent on the address/`email address of the other Party as mentioned in the Schedule II (or in case to the Borrower, on the address of the Borrowe
All notices, requests, demands, waivers, or other communications (including customer Copy of Loan Agreement, Key Fact Statement, Welcome Letter etc.,
other communication will be deemed to have been duly given it: (a) delivered personally; (b) sent by registered mail with postage prepaid; (c) sent by next-d
full responsibility for the same. Borrower agrees to immediately intimate the Bank of any change in the postal address, email ID and acknowledges that the
14.2. SEVERABILITY
Every provision contained in this Agreement shall be severable and distinct from every other such provision and if at any time any one or more of such prov
remaining provisions hereof shall not be in any way affected or impaired thereby.
14.3. FORCE MAJUERE
The Borrower shall be liable to perform or fulfil its obligations at all point of time and shall not delay/postpone performance, its obligations in whole or in par
governmental or other statutory authorities.
14.4. BUSINESS CORRESPONDENT
In case the said loan is sourced through business correspondent, Bank shall be responsible to address the grievances of the Borrowers in relation to acts o
14.5. WAIVER
Any failure and/or delay on the part of the Bank in exercising any right or power under this Agreement or documents in connection with this Agreement sha
the exercise of any other power or right. The rights and remedies of the Bank provided for in this Agreement are cumulative and not exclusive of any rights
14.6. GRIEVANCE REDRESSAL, GOVERNING LAW, JURISDICTION & ARBITRATION
I. In event of any grievances, the Borrower may approach the nodal officer of the Bank. The contact details of the nodal officer have been pro
II. The Parties agree that this Agreement shall be governed by the laws of India.
III. The Borrower hereby expressly agrees that all disputes arising out of and/or relating to this Agreement including any transaction document
a) below the pecuniary jurisdiction limit of the Debt Recovery Tribunals established under Recovery of Debts Due to Banks and
Arbitration and Conciliation Act, 1996 as may be amended, or its re-enactment, either through online dispute resolution mec
The award passed by the arbitrator shall be final and binding on the Parties. The costs of such arbitration shall be borne by t
Kolkata and/or such other place as may be notified at the sole discretion of the Bank.
b) above the pecuniary jurisdiction limit of the Debt Recovery Tribunals established under Recovery of Debts Due to Banks and
the courts/tribunals of the city in which the Branch/ Bank Outlet of the Bank is situated. Provided that to the extent allowed b
14.7. MODE O
a) The borrower is aware that this document is an electronic record in terms of Information Technology Act, 2000 and rules there under as app
computer system and does not require any physical signatures
b) Electronic communications shall be deemed to have been received by borrower when we send the electronic communication to the email a
c) The Borrower hereby expressly acknowledges and confirms that the Borrower has read, verified, understood, irrevocably agreed to and acc
Accept" or any similar icon/tab/option on the online system / Website / portal / platform of the Bank/Merchant/ its agent/ service provider/pa
Unique Identification Authority of India (UIDAI/Aadhaar Authority) or also biometric verification through UIDAI, and that there is no requirem
acknowledges that the execution of this Agreement would be complete only once the same is accepted by the Bank. The Bank shall be dee
Borrower and attaching therewith the copy of this Agreement. For the purpose of stamp duty, any writing on a stamp paper or franked page
this document.
d) The parties agree that either party may use a computer-based system to issue certain Confirmations and that each such Confirmation exec
on such Confirmation and that such Confirmation shall be deemed to have been signed by such party for the purposes of any statute or rule
this Agreement, each party expressly waives any right to raise any defense or waiver of liability based upon the execution of a Confirmation
e) If the PAN of the borrower is not linked with Aadhar, the borrower agrees to get it linked within 90 days of disbursal of this loan.
IN WITNESS WHEREOF the Parties have caused this Agreement to be executed on Effective Date of Agreement Of Hypothecation.
SCHEDULE I
CONCEPTS & ILLUSTRATIONS ON DUE DATES AND SPECIFICATION OF SMA /NPA CLASSIFICATION DAT
(a) Dues shall mean the principal/interest/any charges levied on the loan account which are payable within the period stipulated as per the terms of sanction o
(b) Overdue shall mean the principal/interest/any charges levied on the loan account which are payable but have not been paid within the period stipulated as
due date fixed by the bank.
(c) Non-Performing Asset (NPA) - is a loan or an advance where.
(i) interest and /or instalment of principal remains overdue for a period of more than 90 days in respect of a term loan.
(ii) the account remains 'out of order' as indicated below in respect of an Overdraft/Cash credit (OD/CC).
(d) "First In First Out" (FIFO) - The relevance of ' First in First Out ' (FIFO) is in appropriation of payments into the borrowal account; The Principle of FIFO i.e
assumes that the oldest outstanding dues in the loan account needs to be cleared first. The FIFO method thus requires that what is due first must be paid b
towards principal instalment/interest/charges any payment being credited on or after 01.02.2021 in the loan account will be used to payoff the dues outstan
01.03.2021 will be Rs. X-Y. Additionally, an amount of Rs Z becomes due as on 01.03.2021. Now any payment partial payment into the account on or after
recovering dues of 01.02.201, the remaining amount will be treated as recovery towards due of 01.03.2021.
(e) Age of Oldest Dues - The age of oldest dues is reckoned in days from the date on which the oldest payment is due and continues to remain unpaid. In the
02.03.2021.
(f) Classification as Special Mention Account (SMA) and Non-Performing Asset (NPA) – Lending institutions will recognize the incipient stress in loan ac
as follows:
Illustrative movement of an account to SMA category to NPA category based on delay I non-payment of dues and subsequent up-gradation to Standard category at day end
Due date of Payment Payment Date Payment covers Age of oldest dues in days SMA/NPA Categor
Note- Examples are illustrative and not exhaustive in nature covering common scenarios and that the IRACP norms and clarifications provided by RBI on the subject will pre
Key Facts Stateme
Disbursal schedule
Monthly 18
8 Fee/ Charges
One-time/
Recurring
9 Annual Percentage Rate (%) (APR is annualized percentage interest rate, processing fees, other charges, and third-party products (i.e., aggregate of charges payable to Bank and pay
(iv) Charges for switching of loans from floating to fixed rate and vice versa
4 Whether the loan is, or in future maybe, subject to transfer to other REs or securitisation (Ye
5 In case of lending under collaborative lending arrangements (e.g., co-lending/ outsourcing), following additional details may be furnished:
Name of the originating RE, along with its funding proportion Name of the partner RE along with its proport
NA NA
1. Cooling off/look-up period, in terms of RE’s board approved policy, during which borrower shall not be charged any penalty on prepayment of loan
1. Details of LSP acting as recovery agent and authorized to approach the borrower
Computations of APR for Two
Sr. Parameter
No.
1 Sanctioned Loan amount (in Rupees)
b) Type of EPI
Amount of each EPI (in Rupees) and
nos. of EPIs (e.g., no. of EMIs in case of monthly instalments)
4 Rate of Interest
5 Total Interest Amount to be charged during the entire tenor of the loan as per the rate prevailing on sanction date (in Rupees)
A Payable to the RE
9 Annual Percentage Rate (%) (APR is annualized percentage interest rate, processing fees, other charges, and third-party products. (i.e., aggregate of charges payable to Bank and payable to third party) for the credit facili
Caveates:-
1. Disbursal Date, Loan Tenure, Pre-EMI amount, Insurance Fee, Processing Fee, Annual Percentage Rate (APR), stamp duty (wherever applicable) and Net Disbursal Am
2. If loan disbursal is between 1st to 10th of the month (M0), 1st EMI starts from immediate next month (M1), but if loan disbursal is after 10th of the month (M0), then 1st EM
3. Pre-EMI amount, if applicable, is computed from disbursal date till the commencement of the 1st EMI on pro-rata basis. Pre-EMI will be deducted from the disbursal amou
APR.
7. Borrower is aware that insurance is non-mandatory and offered only to customer who voluntarily choose to opt for the same and in case if the loan is cancelled, the insura
revoked by the said Insurance Company. Bank may receive the commission / fees for solicitation of insurance products (if any) and same will be available on Bank website
Indicative Repayment S
Note -The above repayment schedule is indicative as is determined on the sanction date. Kindly note that it is subject to modification depending on the actual date of disbur
customer post disbursement.
Name of the Borrower Name of the Co-Borrower
Vikash Om
Signed and Delivered by the within named IDFC First Bank Limited through its authorized official.