MITC

MOST IMPORTANT TERMS AND CONDITION (MITC)

Date: 13/07/2015

To,
Borrower :
Address  :
Co-borrower(s)  :
Address :
Loan Account Number:

Please find below a brief of the important terms and conditions pertaining to the above mentioned Loan Account Number.

1.Loan Details

  • Loan amount sanctioned :
  • Purpose of loan :
  • Rate of Interest :
  • Type of Interest : Fixed / Floating
  • Periodicity of interest : Monthly

2.Fee and other charges

  • Processing fee :
  • Service tax on PF :
  • Legal and Technical Fee :
  • Service tax on Legal fees :
  • Prepayment charges : NIL
  • Photocopy of title document : Rs.250/- per request
  • Delayed payment collection charge/ visit: Rs.100/- per visit
  • ECS/ SI /Cheque bounce charges : Rs. 350/- per bounce
  • Reschedulement request : Rs. 250 /- per
  • Non Availment of full loan amount : Rs. 1000/- applicable only post six months from first tranche

3. Security for the loan

  • Security : Equitable/Registered Mortgage/Panchayat Lien Marked
  • Property Description :
  • Guarantors : Personal Guarantee of 1. Xxxxxxx 2. Yyyyyyyy
  • SHG / JLG Group Guarantee of Zzzzzz

4. Insurance related

  • Credit Shield assigned in Company’s favour from :
  • For detailed terms and conditions please refer to the policy document of the insurance Company
  • Insurance is a subject matter of solicitation

5. Condition for disbursement

  • The loan shall be disbursed subject to satisfactory legal , financial and technical scrutiny and submission of relevant documents along with post-dated cheques or ECS mandate in favour of the
  • Pre EMI interest will be charged during moratorium
  • Submission of approved plan / NOC/ construction approval from Panchayat/ competent authorities
  • Fulfilment of conditions specified in Sanction Letter

6. Repayment of loan and interest

  • EMI Amount
  • Tenure
  • Moratorium
  • Repayment Periodicity

7. Rate Revision

The Borrower will be charged a fixed/floating rate of interest as mentioned in the terms and conditions. The fixed rate of interest will be valid for period of 2 years where after it may be changed based on review. The Company may also levy floating rate of interest on the loan at the time of review after 2 years. Any change in rate of interest will be after 30 days advance intimation to the borrower. The change of interest rate will be displayed the company’s web site and such display will be deemed to be due notice of change to the borrower/s. In case the interest rate is not changed the prevailing interest rate will automatically continue. The Company shall have the sole discretion to determine such changes in the rate of interest.

8. Recovery of overdue

  • The Company may contact the customer directly or through its authorized Business Associate ,collection agents/agencies for intimation of overdue amount which will be followed by Dunning Letter.
  • In case the payment is not received after follow up, the loan can be recalled and Notice to that effect is sent to the customer and guarantor/s.
  • The Company may also exercise the option of taking legal recourse for cases where the payments are overdue or the payment instruments have been
  • All the legal and incidental charges including court fees/lawyer fees will be debited to loan account. The borrowers are obliged to pay such amounts incurred by company

9. Customer service – Contact Points Branch

  • Contact official : Branch Manager
  • Address/contact details : Kindly refer to our website https//sphm.co.in
  • Visiting hours – Branches : 11.00 am to 3.00 pm Monday to Friday

10. Regional office

Contact official : Designated Nodal Officer

  • Address/contact details : Kindly refer to our website https//sphm.co.in
  • Visiting/contact hours – Branches : 11.00 am to 4:00 pm Monday to Friday

Central Customer Service

Contact official: Customer Service Executive

  1. Address – CPC : Kindly refer to our website https//sphm.co.in
  2. Email ID : customercare@sphm.co.in
  3. Contact number : +91

Procedure to obtain any documents/request/clarification

  1. You may choose to reach us for any clarification, request or any statement request through any of the aforesaid contact points.
  2. Timelines for general requests (kindly contact our representative for details/request other than listed below)
    • Statements/clarification request : 02 working day
    • Address changes/Payment mode changes/refund : 07 working days
    • Document retrieval (Post maturity/closure) : 21 working days

    11. Grievance Redressal

    You may contact the Grievance Redressal Officer in case you are not satisfied with the response or if you wish to lodge your grievance:

    Contact official : Grievance Redressal Officer
    Email ID: grievance@sphm.co.in
    Contact Number   : +91

    In case your grievance is not attended to or the grievance is not addressed to your satisfaction, you may choose to contact the Complaint Redressal Cell at National Housing Bank (NHB) at the following address

    Complain Redressal Cell,

    Department of Regulation and Supervision National Housing Bank,

    4th Floor, Core 5A, India Habitat Centre, Lodhi Road, New Delhi – 110 003 Email: crcell@nhb.org.on

    Online link for registration of complaints http:grids.nhbonline.org.in

    It is hereby agreed that for detailed terms and conditions of the loan , the parties hereto shall refer to and reply upon the loan and other security documents executed/to be executed by them.

    The above terms and conditions have been read by the borrower/s or read over to the borrower/s Shri/Smt/Km-

    ———————————-of the company and have been understood by the borrower/s.

    Signature / thump impression of borrower/s                              Signature of the authorized person of lender