MAS Financial Services Limited

6, Ground Floor, Narayan Chambers, B/H Patang Hotel, Phone No.: 079‐41106500
Ashram Road, Ahmedabad : 380009 Website: www.mas.co.in

SANCTION LETTER

Date: 24/04/2024

To,
Devanand Shamrao Jogi
H NO 4885 SAI NAGAR, WARD NO 06 GHUGUS,
NEAR HANUMAN MANDIR, CHANDRAPUR,
CHANDRAPUR, MAHARASHTRA ‐ 442502

Subject : Sanction of your NEW TWO WHEELER Loan

Dear Sir / Madam,

With reference to your application no. TW2678506, we are pleased to inform you that your loan has been approved, subject to the terms & conditions given below:

Nature Of Facility NEW TWO WHEELER

Loan Amount (in INR) 77,697.00
Interest Rate (% Per Annum) 20.55
EMI (in INR) 2909
Gross Tenure (In Months) 36
Advance EMI ( In Months) 0
Net Tenure (In Months) 36
Processing Fees (in INR) 815.00
Disbursement In Favor Of Anjikar Automobiles Llp ‐Chandrapur ‐ Sa741
Credit Life Premium (in INR) 624.00
EMI Protection Premium (in INR) 685.00
Upfront Charges + GST (in INR) 2099.00
Primary – 1st Charge over asset created
Security
Secondary – Security PDCs
Co‐Applicant Name (if Applicable) ‐
Guarantor Name (if Applicable) ‐
Default Charges/Bounce Charges (in INR) 650/‐ for EMI <= 7500/‐ and 1250/‐ for EMI > 7500/‐
Delay of EMI because of non‐registration of
650/‐ for EMI <= 7500/‐ and 1250/‐ for EMI > 7500/‐
NACH/ECS Mandate(in INR)
Penal Interest/Late Payment Charges 36% p.a. on default amount would be levied from the date of default till customer pays the amount due
Vehicle Seizing Charges (in INR) Two‐Wheeler – 4500/‐
Any other material breach of terms and condition
36% p.a. on default amount from the date of default till customer regularises the breach
of loan, including Event of Default
Prepayment/Foreclosure Charges (in INR) 4% of the loan outstanding

Documents to be submitted before disbursement :

1. NACH Mandate Activated + Security PDCs (as per policy)

2. Any other requisite documents. (as required by the company)
3. Dealer Documents : Invoice, Insurance
4. Credit Life insurance and other insurance as per loan amount and age. (if applicable)

Set of agreement to be signed by the applicant, co‐applicant/s & guarantor

All documents should be self‐attested with OSV done by a MAS official
The risk premium is decided on a case to case basis as determined by the company. To check the approach for gradation of risk, please visit our website
mas.co.in.
For Refinance & Repurchase cases, the registration with MAS hypothecation has to be submitted within 45 days from the date of this letter.
New vehicle owners are requested to share the registration number either within 30 days of the disbursal of their loan or within 7 days of the receipt of the
registration number, whichever is earlier, on the below mentioned contact number. Failure to do so would attract a penalty.
MFSL shall release all the original movable/immovable property documents and remove charges registered with any registry by visiting Registrar’s Office
along with the customer, within a period of 30 days after full repayment/settlement of the loan account. The borrower shall have the option of collecting
the original movable/immovable property documents either from the branch where the loan account was serviced or the office of MFSL where the
documents are available.
The above charges are excluding any applicable taxes such as GST/TDS etc. The additional tax would be levied as per statutory norms.
This Sanction Letter is valid for 30 Days from the date of issue.
For regional language template of loan agreement, please visit our website www.mas.co.in.

For further details regarding your loan account, kindly contact us on 079‐49137777 or mail us at response@mas.co.in.

We look forward to our long term mutually beneficial relationship.

Thanking you,

MAS Financial Services Limited

It is System generated letter and therefore does not require any signature