GB ‘te ait ager D bei pee Ref No: 6592324 Date & Time Sanction letter ’8-FEB-2023 17:00 To, RAJAN SINGH, 3rd Floor U Block Dif, Phase 3 Gurgaon Haryana, 122002 Dear Sir/Madam, Re: Your request for Baroda Digital Car Loan of Rs. 10,00,000/-[Rupees Ten Lakh only] ‘We are pleased to inform you that your request for Digital Auto Loan has been considered favorably and sanctioned on the following terms and conditions; ‘Terms and Conditions: [Particulars [Details 1 |Name of product Baroda Digital Auto Loan J2 [Purpose of loan Purchase of New Car 3 |Faci [Term Loan J4 [Sanctioned Limit 10,00,000/-[Rupees Ten Lakh only] ** Page 4Rate of interest [Applicable Rate of Interest is 9.25 % per annum, which is a sum of: IRBI Repo Rate 6.50% (at present),Mark up of 2.65% (at present), Strategic Premium of 0.25% (at present) and Credit Spread of -0.2% (at Present), and Risk Premium of 0.05% {The Interest shall be payable at monthly rests. The Bank shall be entitled to reset the Interest rate (Including any of its components as mentioned Jabove) on monthly basis. |Loan Tenure IMargin’% Margin Amount [equated Monthi [Installment (EMI) Amount 184 Months 11.7 of Ex show room price and RTO charges. **(Insurance amount, cost of accessories etc are excluded for the above margin money calculation.) 1,32,555 ** (Note: This is the minimum margin amount/down payment to be paid to the dealer along with the loan amount. If higher margin money/down payment is. paid by the customer, accordingly the sanction amount will leet reduced) IRs. 16,217 JEMI Commencing from IEMI commencing from one month after the date of loan disbursement. 10) EMI amount 16,217 will be recovered on 10th of every month. 11|Disbursement Details: {The loan amount will be disbursed directly to Dealer. Processing fee : 0 + 12)Processing charges 10+ IStamp duty charges : 300 (as applicable). Page 5Penal interest @ 2% p.a. will be charged for non-payment / delayed 13}Penal Interest payment / breach/violation /non-compliance of any terms and conditions 1g for overdue period. 14}Foreclosure charges f: |-Nil- 15|Security Documents |: {Composite Loan agreement for Digital Car Loan, 16|Details of Primary Maruti, Grand Vitara - Sigma valued at Rs. 11,32,555 ISecurity lOther Conditions: (°!- Irhis sanction is valid for -90- days from the date of sanction. |The Risk Premium 0.05% will be waived if the credit insurance to secure the loan is availed by the 102. |customer. The waiver can be availed from the preferred branch after the digital loan application process JEquated monthly instalments are fixed for the convenience of the borrower, whereby interest payable towards the loan is spread over the entire term of repayment fixed. The repayment of all J03. such equated monthly instalment will not be construed as full repayment /settlement of loan account. JOn payment of all equated monthly instalments, residual amount if any, in the account due to ldebiting of overdue / penal interest / additional interest as a consequence of revision in interest rates, Jother incidental charges shall be paid separately by the borrower. Rate of Interest is linked to BRLLR of the Bank. The BRLLR prevailing on the date of |disbursement will be applicable till the next reset date. The Bank shall be entitled to reset the Interest rate (including any of the components of BRLLR) on monthly ba Jos. Page 6los. [There will be a Strategic Premium of 25 bps [100 basis points (bps)=19] for Car loan, over and above credit risk Premium. The Strategic Premium will remain constant for a borrower's lfacility for a period of three years and may be revisited after every three years. los. |The Interest Rate under External Benchmark (ie. RBI Repo Rate component of Interest Rate) shall Ibe reset at monthly intervals for the existing loan facilities linked to Baroda Repo Linked Lending Rate (BRLLR). Any charge in the RBI repo rate during the month will take effect from the beginning of the following month, lo. |The interest on the a Jredu jount of the Loan will be applied at the prevailing rate per annum on daily 1g balance with monthly rests. os. |The Bank may at its discretion, either increase /decrease the EMI amount or period of loan |(subject to maximum stipulated period mentioned under the scheme guidelines) to accommodate the increase/decrease in rate of interest. 10. lo. [Penal interest @ 2% p.a. will be charged for non-payment / delayed payment on the Joutstanding for overdue period / breach/violation/non-compliance of any terms and conditions of the sanction. [The unified processing charges at the rate prescribed by the Bank and GST thereon as prescribed by [Government of India will be borne by the borrower. The charges for applicable stamp duty & any lother charges (if applicable) will also be borne by the borrower. Bank will have right to carry out inspection of vehicle and the charges thereof will be borne by the borrower. i. Bank reserves the right to recall the concessions, if any, if the account is not conducted itisfactory as per stipulated terms of sanction, Page?*|penal interest@ 2% p.a. will be charged for non-payment / delayed payment on the outstanding IE-Mandate/mandate/Standing instruction for repayment of EMIs through ECS/NACH/Auto Debit is to be executed by the borrower within 30 days from the date of sanction of loan, In case of non- Jexecution of e-mandate/SI/NACH/ECS, borrower has to ensure timely repayment of loan otherwise Jamount for overdue period /breach/violation/non-compliance of any terms and conditions of the sanction. 14, 13. iin case of any default / non-compliance the Bank has right to recall the facility. [The facility is granted to you for a period of 84 months, subject to annual renewal, the Bank reserves the right to recall the facility or alter the terms and conditions at any time, during the currency of the facility. Bank also reserves the right to discontinue the facility/advance and to with-hold/stop any disbursement, without giving any notice in case of non-compliance/breach of any of the terms and |conditions stipulated herein, or any information / particulars furnished to us found to be incorrect or in case of any development or situations wherein in the opinion of the Bank, its interest will be/ is likely to be prejudicially affected by such continuation or disbursements, 15. [The customer acknowledge that (i). Usage of any sanctioned funds by the customer and/or (i Acceptance by way of clicking on the check box (I accept & agree) would be deemed acceptance of ithe terms and conditions of this sanction letter by the customer. 16. [The borrower has to bear the difference amount in mar; the proposed vehicle. in case of escalation of on road price of 17. |The Vehicle is to be insured and the cost of insurance will be borne by the customer under |comprehensive insurance policy with Bank clause and a Copy of the insurance policy to be submitted to the Branch where the Car Loan account opened. Page 8