(Name of the Financial Institution)

Head Office: - (Address of the Financial Institution)

AGREEMENT FOR BENEVOLENT LOAN

(AGAINST PERSONAL SURETIES)

Affix Latest Passport Size Photograph Here

I ______________________________________ do hereby acknowledge to have received an amount of Rs. __________ vide cash / cheque No. ___________ dated _________ as benevolent loan from (Name of Financial Institution) on following terms and conditions 1. I shall repay the whole amount of this loan on or before _________ by monthly installment of Rs. __________ each together with surcharges thereon if any, in maximum _____ monthly installments of which the first shall be repayable on or before _________ and other installments by a regular interval on one month thereafter. 2. Service Charges of ____% per annum or more, particularly specified in the schedule written under on the loan shall be charges by (financial institution) to meet the operational cost. 3. If at any time I default in paying more than two installments or if I deploy the loan amount for any purpose other than the mentioned in the loan application form, I shall be liable to pay the whole amount at once with charges thereon. 4. I shall be bound by the rules of (financial institution) which are now in or hereafter may come into force and terms thereof shall be deemed to have been incorporated in this agreement. 5. I agree to pay all incidental charges, legal or otherwise resulting from any default of repayment of the loan as stipulated above.

SCHEDULE OF SERVICE CHARGES

The Service Charges @ ____ % per annum shall be at the following rate i. Proportionate share towards the actual operational / establishment cost of (financial institution) or __% per month on the actual outstanding loan amount which ever is less. ii. The operational / establishment cost shall be calculated and determined by (financial institution) at each quarter, intimation of which shall be obtained by personal visit to (financial institution) office. Intimation if not demanded, deemed to be waived. Yours Faithfully (Principal Borrower)

Application Form
(Benevolent Loan)
Application No. _____ __________ To, Dated: -

Sub: Requisition for Benevolent Loan Sir,

Affix Latest passport Size Photograph of the Applicant Here and sign

I state that I am poor but have not taken loan from any source and have no other source of credits for my financial need, thus request you to kindly grant me Benevolent Loan worth Rs. _______________ (Rupees ___________ ___________________) to meet my personal need of ________________________________________________. I am herewith providing two personal sureties / guarantor as collateral before you. I promise that I shall abide by rules framed under by financial institution and repay the loan within stipulated installments along with service charges if any therein to recover the actual cost of lending for my personal needs. I am ready to sign the agreements and my sureties may also sign personal bonds if required. With regards Name of Applicant: ______________________________________________________ Residential Address: ____________________________________________________ ______________________________________Tel. Nos. ________________________ Signature: _________________

Declarations by Applicant: I hereby declare that all statements and replies given herein before so far as the same are material to the contract are true in every particular whether written by my hand or not I have carefully read the rules and regulations printed on this application form and the registered bye-laws of the society and bind myself to abide by them and also coming in force in future. Further I, hereby undertake to exclusively bank with you and operate my account. I hereby declare that I shall exclusive bank with you as provided under the MCS Rules 1961 shall not bank with any other bank / society. This Loan Application form is filled in my own hand writing / or at my request by your staff who has filled in all details after my instructions and the same are duly interpreted to me / understood by me.
(Applicants Signature)

Declarations by Sureties: The purpose and the amount of the Loan applied for as well as the particular of my / our indebtedness etc. are correctly stated and that I / we believe that the applicant will be able to repay the loan by installment of Rs. ____________ per month. I / We undertake that the loan will be used for the purpose stated in the application form. I / We hereby further declare that all the statements and information given herein the above so far as the same are material to the contract and every particular are true whether written by my / our hand or not. I / We hereby declare that we have carefully read the rules and regulations printed on this application form and bind myself / ourselves to abide by the same and also coming in force in future and the registered bye-laws of the society. Full Names of Sureties Signature of Sureties 1.____________________ ________________________ 2.____________________ ______________________

Official Remarks
Field Staff: ________________________________________________________ Manager: ________________________________________________________ Local Advisory Committee: This Application form is accepted / rejected / deferred. Loan Application form must be duly filled in & signed by applicant and tow sureties, along with Photo Identity Proof and Residential Address documents Annexure: 1. ________________________________________________________ 2. ________________________________________________________ 3. ________________________________________________________

SURETY BOND
To The Manager _________________ _________________ _________________ Dear Sir or Madam In consideration of your having granted / agreed to grant Benevolent loan amounting Rs._________ (Rupees ______________________________) to _______________________________________ with equal monthly installment of Rs._________ repayable within maximum ____ monthly, I / we undertake and agree jointly and severally so as to bind my / our respective heirs, executors effect and to pay to you forthwith on demand the sum of money as may be due to you along with service charges and other surcharges if any to recover your deficit and expenses incurred by you in anyway related to the above mentioned loan amount.

6. We declare that our liability to pay the amount due commence forthwith in case the principal
borrower commits any default in payment, either of installment or principal amount due on their respective due dates. 7. We further declare that our liability will be continuing till the entire amount payable by the principal debtor is realized by you. 8. We further declare that our liability shall be joint and several as well as co-extensive with the principal borrower, once the principal borrower defaults to make payment of any installment / amount, the society shall recover the dues from us even without resorting to any remedy / resource against the principal borrower. 9. The guarantee bond is additional and without prejudice to any securities offered by the principal borrower. 10. We hereby consent that as between the principal borrower and me / us, I am / we are sureties only. I / we agree that as between yourself and me / us, I am / we are principal debtor jointly with him and accordingly I / we shall not be entitled to and hereby I / we waive any of the rights, conferred on sureties by section 133, 134, 135, 139 and 141 of Indian Contract Act. A demand in writing shall be deemed to have been duly given to me / us for my / our heirs assigns by leaving the same at my / our last known address hereunder written and shall be effectuate not withstanding any change in address and such demand if sent by post (under certificate of posting) shall be deemed to be received by me / us or my / our heirs assigns 24 hours after posting hereof. SCHEDULE OF SERVICE CHARGES The Service Charges @___% per annum shall be at the following rate

iii. Proportionate share towards the actual operational / establishment cost of (financial institution)
or __% per month on the actual outstanding loan amount which ever is less. iv. The operational / establishment cost shall be calculated and determined by (financial institution) at each quarter, intimation of which shall be obtained by personal visit to (financial institution) office. Intimation if not demanded, deemed to be waived. Yours Faithfully (Signature) _____________________ (First Surety / Guarantor) ______________________ (Second Surety / Guarantor) _______________________

Full Name of Guarantors: _____________________________