ManiBhavnam Home Finance India Private Limited Most Important Terms & Conditions (“MITC”)

(Housing Loan / Loan Against Property)

Dear Customer,

Thank you for your application for availing a captioned loan from ManiBhavnam Home Finance India Private Limited (“MBHF”/ “Lender”).

The MITC are to be read in conjunction with the terms contained in sanction letter dated executed/ to be executed between the borrower(s) and MBHF (“Sanction Letter”) and General Terms and Conditions dated                                                                                       registered with the sub-registrar of assurances at                        which is annexed as annexure I with the Sanction Letter. The Sanction Letter and GTC along with MITC shall be collectively referred as “Loan Documents”. Major terms and conditions agreed between

……………………………………………………. (the borrower) and the Lender are as under:

1. Loan:

Sanctioned Amount:   ………………………… (Rupees......................................................................... Only).

2. Interest:
   1. Type (Fixed or Floating or Dual/ Special Rate): Fixed
   2. Interest Chargeable (……………………………………… i.e.……. % (Reference rate +/........................... ) for floating rate

loans; and............. % fixed rate loans)

1. 3. Moratorium or Subsidy:
   4. Date of Reset of Interest:
   5. Modes of Communications of changes in Interest Rate: Letter/ SMS/ E-mail/ Information at branch/ Notification on website

3. Instalments Types: Monthly/Quarterly/Half yearly/yearly

4. Loan Tenure:

5. Purpose of Loan:

6. Fee and Other Charges: As per sanction letter

1. On Application: Processing Fee / Legal Charges / Admin charges (Pls tick)

2. During the term of loan (Pl individually specify all the types of fee/charges):

* Swap charges will be nil in case of change in loan repayment mode to ACH/NACH

For complete details of charges applicable on loan please refer to the latest schedule of charges on MBHF’s website

3. On Part payment and Foreclosure

Part payment/Foreclosure of loan is allowed, subject to the guidelines/ circulars of NHB, RBI & other regulatory authority(ies), terms contained herein and/ or under the GTC and the Sanction Letter, the Borrower may prepay or partly prepay the Loan provided an advance thirty (30) working days’ clear written notice is given to MBHF for the same. Thirty

(30) days will be counted from the actual date of the receipt of the notice by MBHF.

Floating rate of interest shall be based on MHFR as decided by MBHF from time to time. “MHFR” shall mean the applicable reference rate of interest as on the reset date and reset time frequency as decided by MBHF from time to time based on prevailing market conditions and guidelines of any statutory authority and / or as per internal policy of MBHF.

4. Refund of Processing Fee:

5. Penalty for delayed payments

Above fee and charges are exclusive of service Tax, education cess & other govt. taxes, levies etc. and subject to change and will be at the sole discretion of MBHF and any change in charges, would be uploaded on the website or intimated to customer via letter/email

7. Security / Collateral for the Loan

   Mortgage (mention details of property to be mortgaged as security for the loan) by way of first [exclusive/ pari passu] charge

Guarantee (mention the name of the Guarantors).

Other Security (mention the details of other securities, if any) by way of first [exclusive/ pari passu] charge

The borrower shall bear all the charges payable for the creation of said security and shall take all the steps required for the perfection thereof.

8. Insurance of the Property / Borrowers

The borrower shall be vigilant and shall ensure the property is, during the pendency of the loan, always duly protected and properly insured against all risks. The Borrower hereby agrees that MBHF shall be made the sole beneficiary under the insurance policy/policies, and the Borrower shall provide evidence thereof to MBHF regarding MBHF being made the beneficiary immediately thereafter. The borrower shall pay the premium amounts promptly and regularly so as to keep the policy/policies alive at all times during period of loan.

9. Conditions for Disbursement of the Loan:

1. Submission of all relevant documents as mentioned by MBHF in the sanction letter/loan agreement.
2. Clear Legal & Technical assessment of the property.
3. Payment of own contribution, as specified in sanction letter/loan agreement. In case of any alternative arrangement based on a specific product being offered by MBHF the same shall be informed to and acknowledged by Borrower.
4. Creation of Equitable / Registered Mortgage/MOE & charges as prescribed by state government, if any, to be paid by customer as per actuals.
5. The construction is being undertaken as per approved plans.
6. Disbursement of loan will be linked to stages of construction as specified in the sanction letter.
7. All the required statutory approvals for the property has been obtained.
8. Positive Verification of all the documents submitted.
1. CERSAI charge creation.
10. Providing adequate utilization proof of the loan.
11. All required approvals for the property have been obtained and are available with the seller in case the property is being purchased in resale.
50. All property owners to be on the loan structure.
1000. Any other specific condition mentioned in the sanction letter.

10. Repayment of the Loan & Interest:

Pre-EMI Interest (“PEMI”) would be required to be paid, on monthly basis on the due date mentioned in the Sanction Letter. It shall be charged from the date of the first disbursements to the date of commencement of EMI in respect of the loan.

The Borrower shall provide such number of PDC’s as mandated by MBHF from time to time for the amounts specified by MBHF towards repayment of the Loan.

Amount of EMI-

Total number monthly installments-

Procedure for advance intimation of the changes in the rate of interest/EMI- Through Letter/ E-mail/ SMS/ Information at branch or Notification on website

11. Recovery of dues / overdue amounts:

On occurrence of any event of default as mentioned in the loan agreement, all outstanding amounts comprising of the principal, interest, additional interest and other charges, if any, owed by the Borrower to MBHF shall become payable forthwith and MBHF reserves the right to take such action as may be deemed fit, in accordance with applicable laws, to recover its dues by enforcing its rights under the loan documentation entered into with the Borrower.

12. Date on which annual outstanding balance-statement will be issued: By end of every year.
13. Customer Services:

1. Visiting hours at the office 9:30 am to 6 pm Monday to Friday.
2. Contact Customer Service Executive or email us at [email protected]
3. Loan Account Statement - A customer needs to request in writing to the branch or customer service e-mail ID for account statement of his/ her loan. The loan account statement will be provided within 30 working days from the date of receipt of the request and applicable charges
4. Photocopy of title documents- Photocopy of the title documents will be provided within 30 working days from the date of placing written request at branch. Applicable fees in this regard will be charged.
5. Return of original documents on closure/transfer of loan - Original loan documents will be returned to you within 30 working days from date of full and final payment made towards loan closure. If the documents are not collected within the prescribed time-period, then applicable administrative charges shall be collected from customer.

14. Grievance Redressal:

LEVEL-1 Customers who wish to provide feedback or send in their complaint may use the following channels between 9:30 am and 6:00 pm, Monday to Friday (except on national holidays).

• Email us at [email protected]
• Contact us at customer care number at 011-40521562/ 9310100001
• Write to us at the below mentioned address:

Farm No. 10, Tropical Drive, Ghitorni, M.G Road, South West Delhi, New Delhi-110030

If a complaint has been received in writing from a customer,” The company” will endeavour to send him/ her an acknowledgement/ response within a week. The acknowledgement will contain the name & designation of the official who will deal with the grievance. If the complaint is relayed over phone at designated telephone helpdesk or customer service number, the customer will be provided with a complaint reference number and be kept informed of the progress within a reasonable period of time.

After examining the matter,” The company” will send the customer its final response or explain why it needs more time to respond and will endeavour to do so within six weeks of receipt of a complaint

.

LEVEL-2 If the complaint/dispute is not responded within a period of 15 days or is dissatisfied with the response received, customer may write to the Complaints Redressal Officer. The contact details of the Complaint Redressal Officer is as follows:

Email ID: [email protected]

The process of the complaint’s redressal unit will ensure closure of all complaints to the customers’ satisfaction.