State Bank of India

Real Time Xpress Credit Loan- with Digital Document Execution (DDE)
These Terms & Conditions govern the Real Time Xpress Credit Loan with DDE availed / to be availed
by you, the Borrower / Customer:

Name - Ms./Mr. SATYARANJAN PARIDA

CIF No. - XXXXXXX6838
Loan Amount: Rs. 25000.00
Borrower's consent (for data sharing) captured Date & Time: 05/03/2023 at 14:27:34 IST
Borrower's T&C acceptance Date & Time: 05/03/2023 at 15:02:45 IST

• Borrower hereby authorises State Bank of India and/or its representative to call/email/SMS me/us with reference to my
Personal Loan application. Borrower also authorises State Bank of India and/or its representative(s) to verify any kind of
information contained in the application or otherwise from any source whatsoever at their sole discretion at my
Office/Residence/Employer/Banker/Credit Bureau/UIDAI/RBI/or any other third party as they deem necessary.
• Borrower also hereby give consent to share his/ her account statement/data to third party vendor(s) to calculate the
eligibility of this loan and consent to update his/ her social attributes in Bank records.
• The loan is offered for meeting personal expenses of the borrower. Borrower undertakes not to utilize the loan proceeds
for any illegal or speculative purposes or for any purpose restricted/debarred by the law of land.
• The term 'Bank' or 'SBI' used hereinafter refers to State Bank of India. The term 'Loan' hereinafter refers to 'Real Time
Xpress Credit' Loan through YONO.
• Borrower understands that the Loan can be availed and loan account created only through the customer's account in
YONO App/Portal.
• The Borrower understands and accepts that as he/ she has opted for Digital Document Execution (DDE) facility, the
documents will be e-signed by him/ her with Aadhaar OTP based e-signature for which the Borrower hereby gives his/ her
consent to share his/ her data and direct him/ her loan journey to a third party platform authorized by the Bank.
• Borrower understands that the documents are exigible to stamp duty under the respective Stamp Acts for which amount
towards payment of stamp duty and other service charges will be recovered instantly from my savings account. The
Borrower understand and agree that Stamp duty once recovered, will not be refunded, if the DDE process is not successful
or if the borrower abort the process/journey.
• Borrower shall keep Aadhaar number and mobile number as registered in Aadhaar ready for completing the digital
documentation at the third-party platform.
• Execution of the documents will be done instantly, and the loan amount will be credited into the savings/salary account
identified for the processing of loan.
• In case of unsuccessful completion of execution of documents in the DDE journey the Bank has provided the Borrower
an option to visit the Branch for completing the documentation. However, the sanction offer will expire if document is not so
executed within 7 days of sanction date.
• At any point of time, maximum two “Real Time Xpress Credit- RTXC” is allowed in case Borrower has not availed any
Xpress Credit/Insta Credit/PAXC earlier. If Borrower has already availed one Xpress Credit/Insta Credit/PAXC earlier, then
only one XC can be availed subject to overall eligibility of Rs. 20.00 lacs at any point of time
• Interest on the loan will be charged at 4.3 % above 2 years MCLR (Presently- 7.2 %) i,e, at 11.5 % p.a. on daily reducing
balance. The rate of interest will be valid for the entire tenure of the loan
• A standing instruction equivalent to Rs. 3262.00 will be set up on 10 of every month on my salary account with the Bank
upon availing of this loan as per the date decided by me.
• The actual Rate of Interest as applicable at the time of documentation/disbursement will be applied and accordingly EMI
may undergo change.
• Loan amount will be credited in a single disbursement.
• The Term Loan facility will be permitted to operate on a reducing drawing power arrangement on EMI basis.
• Loan shall be repaid in 8 months.
• The loan is to be repaid in Equated Monthly Instalments. The number of equated monthly instalments may increase/vary
if the entire loan with interest, cost, charges and expenses is not repaid by/with the stipulated number of equated monthly
instalments. The equated monthly instalments will have to be paid till the entire loan with interest is fully repaid. The first
instalment commences from the month following the month of disbursement of loan coinciding the salary date/from the date
selected during the journey.
• Processing fee of Rs. 0.00 will be levied upon availing of this loan.
• Borrower undertakes that he/she will not avail any other loan that would adversely impact the Borrower's credit
worthiness/repaying capacity during the permitted validity period of sanction of 7 days.
• The bank shall not be liable for any unauthorised access to YONO App or Web Portal through the use/compromise of
password / MPIN of the customer / borrower and that the credit of the loan amount to the account of the customer /
borrower would be sufficient for the Bank to construe that the customer / borrower has applied for the said loan through
YONO App or Web Portal and has been the beneficiary of the said loan amount sanctioned and credited to the account of
the customer /borrower.
• In the event of default in payment of any instalment or any irregularity in the loan account, penal interest at the rate of 2%
p.m. over and above the stipulated interest rate with monthly rests will be charged for the irregular amount and overdue
period.
• In the event of Borrower failing to repay any/ 2 or more instalment(s) at any point of time, the Bank may send written
reminders or make telecall/ SMS or depute an official to meet Borrower personally, all the incidental charges appurtenant
thereto such as postage, telephone/ SMS charges, transportation charges, on actual would be recovered from Borrower.
• If:
i. the borrower fails to pay any amount under this agreement on or before the due date or commits breach of any of the
terms, covenants, or conditions contained in this agreement; or
ii. it is found that the borrower has made any misrepresentation to the bank; or
iii. there exist any circumstances which in the opinion of the bank prejudicially affects or may affect the bank’s interest or
the borrower’s ability to repay the loan; or
iv. the borrower commits any default under any other agreement with the bank;
the Bank, without prejudice to its other rights, shall be entitled at its option to demand immediate repayment of the
outstanding amount of the loan, interest, additional interest, fees, costs, charges, expenses, stamp duty and all other sums
whatsoever payable by the borrower to the bank under this agreement and/ or in connection with the loan (hereinafter
collectively referred to as ‘the borrower’s outstandings) and the borrower shall pay the same to the bank forthwith.
• Notwithstanding anything contained elsewhere in this agreement, the continuation of the loan shall be at the sole and
absolute discretion of the bank and the borrower’s outstandings shall be payable by the borrower to the bank on demand.
The bank may at any time in its sole discretion and without assigning any reason call upon the borrower to pay the
borrower’s outstandings and thereupon the borrower shall pay the whole of the borrower’s outstandings to the bank without
any delay or demur.
• It is a precondition of the loan advances given to the Borrower by the bank, that in case of default in repayment of the
loan / advances or in the repayment of the interest thereon or any of the agreed instalment of the loan on due date/s or in
maintaining the outstanding amount within the drawing power at any point of time, the bank and/ or the Reserve Bank of
India will have an unqualified right to disclose or publish his/her name(s) as defaulter in such manner and through such
medium as the bank or Reserve Bank of India their absolute discretion may think fit and the borrower will not claim any
right of secrecy to his/her account.
• The Terms and Conditions mentioned herein form the contract between Borrower availing the Real Time Xpress Credit
facility using the YONO App or Web Portal of the Bank and the Bank.
• In case of default, bank reserves the right to use the services of resolution agents/collection agents for recovery of loans
and their service charges, if any, will be borne by the customer.
• By ticking the checkbox, I hereby acknowledge and accept these Terms & Conditions. In addition to these Terms and
Conditions, any other conditions relating to the accounts of the customer/borrower including but not limited to those
governing YONO App or Web Portal services, as the case may be, will also apply to this Real Time Xpress Credit Loan. In
the event of any conflict between these Terms and Conditions and such other conditions, these Terms and Conditions will
continue to prevail in respect of the Real Time Xpress Credit Loan. The terms ‘Borrower’ and ‘Customer’ are used
interchangeably, both to mean the same person who is availing the Real Time Xpress Credit Facility and who hereby
electronically accepts the terms.