account_holder)){ if ($user['center_bank']->account_holder && empty($user['center_gst_number'])){ $bankDetail = 0; }else if(!empty($user['center_gst_number']) && !$user['center_bank']->account_holder){ $bankDetail = 1; }else if(!empty($user['center_gst_number']) && $user['center_bank']->account_holder){ $bankDetail = 0; }else if(empty($user['center_gst_number']) && !$user['center_bank']->account_holder){ $bankDetail = 1; } }else{ if (isset($user['center_bank']->account_holder) && $user['center_bank']->account_holder && empty($user['center_gst_number'])){ $bankDetail = 1; }else if(!empty($user['center_gst_number']) && (!isset($user['center_bank']->account_holder) || !$user['center_bank']->account_holder)){ $bankDetail = 1; }else if(!empty($user['center_gst_number']) && (isset($user['center_bank']->account_holder) && $user['center_bank']->account_holder)){ $bankDetail = 0; }else if(empty($user['center_gst_number']) && (!isset($user['center_bank']->account_holder) || !$user['center_bank']->account_holder)){ $bankDetail = 1; } } $subvention = 0; $principal_amount = 0; $subvention = 0; $interest = 0; $total_subvention = 0; $total_interest = 0; $emis_array[] = ($user['consumer_emi']->upfront_from_credit_fair - $user['consumer_emi']->processing_fee); if(isset($user['loan_schedule']) && $user['loan_schedule'] != ''){ if(isset($user['loan_schedule']['schedule'][0])){ $repayable = $user['consumer_emi']->upfront_from_customer; foreach($user['loan_schedule']['schedule'] as $key=>$loan_schedule){ $repayable = $repayable + $loan_schedule['amount']; $emis_array[] = $loan_schedule['amount']; $principal_amount = $principal_amount + $loan_schedule['principal']; $subvention = $subvention + $loan_schedule['subvention']; $interest = $interest + $loan_schedule['interest']; //$total_interest = $total_interest + ($loan_schedule['subvention'] + $loan_schedule['interest']); if ($user['is_gst_applicable'] == 0) { $total_subvention += $loan_schedule['subvention']; $total_interest = $total_interest + ($loan_schedule['subvention'] + $loan_schedule['interest']); } else { $total_interest = $total_interest + $loan_schedule['interest']; } if($user['is_gst_applicable'] == 0 && $subvention > 0){ $principal = ($principal_amount + $user['consumer_emi']->upfront_from_customer) - $subvention; }else{ $principal = $principal_amount + $user['consumer_emi']->upfront_from_customer; } } } } $amountAB = 0; if (isset($user['proFormaInvoice']->insurance_premium_applicable) && $user['proFormaInvoice']->insurance_premium_applicable == 1) { $amountAB += $user['proFormaInvoice']->insurance_premium_amount; } $amountAmtV = $user['consumer_emi']->processing_fee + $user['consumer_emi']->upfront_from_customer + $amountAB; if ($user['is_gst_applicable'] == 0) { $amountAmtV += $subvention; } $amtV = ($user['loan_amount'] - $amountAmtV); $aprrate = round(\MathPHP\Finance::rate($user['consumer_emi']->remaining_emi, $user['consumer_emi']->emi, -$amtV, 0) * 100 * 12, 2); if ($aprrate < 0) { $aprrate = 0; } // below condition is for NAN return by finance function if(is_nan($aprrate)){ $aprrate = 0; } $netDisb = $user['consumer_emi']->approved_amount - ($user['consumer_emi']->upfront_from_customer + $amountAB); $la = $user['loan_amount'] - $user['consumer_emi']->upfront_from_customer; if(isset($user['proFormaInvoice']->merchant_collected_advance_amount) && $user['proFormaInvoice']->merchant_collected_advance_amount == 0){ $loan_amount = $user['loan_amount'] - $user['consumer_emi']->upfront_from_customer; }else{ $loan_amount = $user['loan_amount']; } ?>

Ref. No.: Application ID


Date: {!! $letter_date ?? date('d-m-Y') !!}

Loan Sanction Details


To,


{!! $user['customer_name'] or '' !!}


Dear @if($user['gender'] == "MALE") Sir @else Ma'am @endif,

Thank you for your loan application dated {!! date('d/m/Y', strtotime($user['loan_application_date'])) !!}. We, Avanse Financial Services Ltd. ("the Lender") are pleased to inform you that based on your loan application, we have agreed to sanction you the Loan facilities subject to its terms and conditions. The sanctioned details are mentioned below, which shall form part of the loan agreement and/or terms and conditions prescribed by the Lender:-




@include('admin.documents.common_KFS')

Annexure A- Grievance Redressal Mechanism

The Company follows a four (4) tier approach for redressal of customer grievances, as detailed below:

1. Level 1
a. In case of any service request / complaints, the customer may contact the customer engagement team on any of the below mentioned contact points:
• Email: wecare@avanse.com
• Toll Free Number for customers calling from India: 1800-266-0200
• Contact Number for customers calling from Abroad: (+91) 22-6680 6464
• Written request to the below mentioned details:

Avanse Financial Services Limited
4th Floor, E Wing, Times Square,
Andheri - Kurla Rd, Gamdevi,
Marol, Andheri East,
Mumbai, Maharashtra 400059
b. On receipt of service request / complaint, an acknowledgement shall be given within 2 working days by us to the customer via e-mail/ letter by post/ SMS/any other form of legally valid electronic communication including WhatsApp. The Company shall endeavour to respond to the same within a period of 14 days.

c. However, in case where a complaint warrants extensive investigation and/or support of the customer to identify the perpetrator, root cause analysis, or under litigation (incl. pending with local Police authorities), the TAT for responding and resolving such complaints may be more than 14 days.

d. In case the customer is not satisfied with the resolution/response provided by the customer engagement team/s as above, then customer shall escalate to Level 2 as given below.

2. Level 2
It may be noted that the customers shall approach for resolution of their service request/complaint at the first instance to the customer engagement team as mentioned in Level 1 hereinabove, and if their request / complaint remains unresolved for a period of 14 days or they are dissatisfied with the resolution given, they are required to contact Grievance Redressal Cell of the Company:

Kind Attn: Senior Grievance Redressal Manager
Avanse Financial Services Limited
4th Floor, E Wing, Times Square,
Andheri - Kurla Rd, Gamdevi,
Marol, Andheri East,
Mumbai, Maharashtra 400059
Email: grievanceredressalcell@avanse.com
Telephone: 1800-266-0200

3. Level 3
In case the customer is not satisfied with the decision of the Grievance Redressal Cell, he may approach the Grievance Redressal Officer (GRO) of the Company:

Kind Attn: Mr. G.D.Patil
Grievance Redressal Officer (GRO)
Avanse Financial Services Limited
4th Floor, E Wing, Times Square,
Andheri - Kurla Rd, Gamdevi,
Marol, Andheri East,
Mumbai, Maharashtra 400059
Email: gro@avanse.com
Telephone: 022-6859-9999

We will make our best efforts to resolve customer’s complaint at this level.

4. Level 4
A. If the complaint is not redressed within a period of 30 days or if the customer is dissatisfied with the resolution received at Level 3 hereinabove, the customer may further escalate to Ombudsman via CMS Portal or Electronic / Physical mode by following procedure as mentioned in point 3.1 (Salient features of NBFC Ombudsman Scheme) of below table.

B. If the customer is aggrieved by the Ombudsman Award or rejection of complaint by Ombudsman Office, customer can file an appeal within 30 days of receipt of Award or rejection of complaint to:

Executive Director
Consumer Education & Protection Department
Reserve Bank of India.

Additional Specific Instructions for availing the Loan:-


  1. Disbursement shall be into the account specified by the Institutes/Merchant/School(as applicable). The Borrower also hereby expressly authorizes the Lender to disburse/route the said disbursement through the nodal account and/or the third party account (i.e. directly to the accounts of the Institute/s and/or Merchant/s and/or schools)
  2. The Loan(s) may be disbursed in 1 (one) or more installments or tranches, in accordance with the Lender’s policy and sanctioned terms. Accordingly the Lender may allocate one or more Loan Account Numbers for every tranche for better administration of Loans in accordance with its terms. Notwithstanding anything mentioned elsewhere, the Loans shall be governed by the said Loan documents and/or Facility documents.
  3. The Borrower shall abide the said Loan documents and/or facility documents in respect of each Loan Account Number and undertakes to pay/repay the debts in accordance with the repayment schedule provided by the Lender in respect of each Loan Account Number as per the terms and conditions of the Loan Agreement and/or facility agreement.
  4. The Borrower has read and understood the cancellation and refund related terms & conditions/policy (T&C) for the course fees and/or products/services (wherever applicable) as provided or made available by the Institute/Merchant. Lender is not a party to such Product T&C which are separate/independent to the loan facility. The Borrower shall pay the applicable refunds received by him/her/them related to course fees and/or products/services to the Lender for adjustment in the loan account. The Borrower shall ensure the processing of such refunds directly to Lender by giving required instructions to the Merchant. The Lender is not obligated to collect the refunds from the Merchant.
  5. Any change in ROI and/or other charges shall be applicable prospectively.
  6. The sanction is subject to Lender’s absolute discretion and may be revoked by the Lender as the Lender may deem fit including in the event any condition precedents are not complied with. The Loan facility shall be governed by the terms and conditions prescribed by the Lender and/or the loan agreement, that shall be accepted by the Borrower/s in addition to this Sanction Letter.
  7. The arrangement/tie-up of the Institute/Channel Partner with the Lender may require drawdown/disbursement of the Loan amount in tranches which otherwise becomes payable upfront in its entirety by the Borrower in absence of such arrangement/tie-ups. As such, for the Borrower the date of first tranche disbursement of the Loan by the Lender shall be deemed to be the date of disbursement of the entire sanctioned Loan amount, since the Loan amounts are kept available for drawdown, irrespective of its utilization.
  8. Upon prepayment/foreclosure of the Loan, the Borrower shall repay to the Lender, the entire outstanding Amount Due including any Charges (in accordance with the terms of the Loan Agreement) out of the entire Loan amount sanctioned by the Lender to the Borrower, irrespective of any tranche remittances of the Loan by the Lender to the Institute.
  9. While the interest cost in the ordinary course for the Loan shall beat the rate equivalent to the ceiling rate (presently at 25%p.a); in consideration that ROI will be calculated on the total sanctioned Loan amount despite credit of funds in tranches to the institute, the Lender has agreed with sanctioning Loan on the sanctioned terms. Ceiling rate means the maximum rate of the ceiling limit mentioned in the extant interest rate policy of the Lender available on Lenders’ website, present copy of which has been supplied to the Borrower and received in good order.
  10. Interest Rate comprising risk premium/spread has been provided inter-alia basis nature of loan, borrower’s creditworthiness, nature of security, nature of product, borrower/risk profile, repayment capacity, past repayments, borrower's loan tenure and geography (location). Fees & charges applicable to the loan facility are levied inter-alia basis cost & expenses for product/services, encourage financial discipline, competition/industry benchmarking, market practices for the loan type and quantum, in compliance with regulatory guidelines.
  11. As such the Borrower agrees that interest costs are the negotiated and reasonable estimate of the return on these debts payable to the Lender. The Borrower has thus satisfied itself of the suitability and appropriateness as to costs and expenses for availing the sanction accordingly
  12. This Loan sanction Details/Key Fact Statement shall form an integral part of the Loan Agreement (including its Annexures, schedules referred thereto) and shall be read along with it, wherever the context so requires.
  13. This sanction letter shall form an integral part of the loan agreement and/or the applicable terms and conditions.
  14. Approach for Gradation of Risk:
    Interest Rate comprising risk premium/spread has been provided inter-alia basis nature of loan, borrower’s creditworthiness, nature of security, nature of product, borrower/risk profile, repayment capacity, past repayments, borrower's loan tenure and geography (location).
    Fees & charges applicable to the loan facility are levied inter-alia basis cost & expenses for product/services, encourage financial discipline, competition/industry benchmarking, market practices for the loan type and quantum, in compliance with regulatory guidelines.





We assure you of our best services at all times. Warm Regards,

{{-- --}}

From Avanse Financial Services Ltd.

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{!! $user['customer_name'] !!} (Applicant) signed this agreement at {{ date('h:i A',strtotime($signed_data[0]['click_time']))}} on {{ date('d-M-Y',strtotime($signed_data[0]['click_time']))}}

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{!! $user['co_applicant_name'] !!} (Co-Applicant) signed this agreement at {{ date('h:i A',strtotime($signed_data[1]['click_time']))}} on {{ date('d-M-Y',strtotime($signed_data[1]['click_time']))}}

--}} {{--
--}} {{-- @endif--}} {{--
--}} {{--
--}} {{-- @endif--}}

FOR ONLINE ACCEPTANCE

Applied, Accepted, Authenticated, Signed and Delivered by the Borrower(s) through electronic form, by clicking “I ACCEPT” button in the online system/ application/website made available for processing loans with Avanse Financial Services Limited (including through its authorized service providers) as well as entering the one time password (OTP).

SIGNED, SEALED AND DELIVERED



____________________

Borrower

____________________

Co-Borrower

____________________

Co-Borrower

____________________

Co-Borrower