Date:

To,

(“Borrower”)

S/o

, -

(“Co-Borrower”)

S/o

, -

Subject: Sanction letter/approval for Loan

Dear & ,

We, Blacksoil Capital Private Limited (Lender) are pleased to inform you the (“Borrower (s)”) that we have approved your Loan and you are eligible for a Loan facility from us as per the following terms:

TERMS PARTICULARS
Sanction Letter Date
Loan Application Date
Merchant’s Business ID:
Borrower (s) Application ID:
Borrowers/ Applicants

Borrower:

Co-Borrower:

Guarantor
Lender
Merchant

, -

Platform
Type of Loan
Purpose
Loan amount ₹
Disbursement Schedule 1): ?>
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Tenure
Instalments
Due Date 5th of every month on which the Equated Monthly Instalments and Interest together with any other costs, charges and expenses, if any, are due and repayable by the Borrower(s) to the Lender .
Interest Rate (exclusive of applicable taxes)
Prepayment
  1. The Borrower (s) shall be eligible to make a part Prepayment or foreclosure only after payment of at least one (1) EMI.
  2. In the event the Borrower (s) makes a part Prepayment or foreclosure prior to the payment of the first EMI, the Lender shall be entitled to deduct the interest component of the first EMI from such payment, and the balance amount shall be adjusted against the outstanding principal of the Loan
  3. The minimum amount of any Part Prepayment shall not be less than the equivalent of two (2) EMI.
  4. After making any Part Prepayment, the Borrower shall make payment of at least one (1) subsequent EMI before making any further part Prepayment.
  5. Upon any Pre-Part Payment, the Lender shall have the discretion to either (a) reduce the EMI amount while keeping the loan tenure unchanged, or (b) reduce the loan tenure while keeping the EMI amount unchanged.
  6. All Pre-Part Payments and Foreclosures shall be subject to applicable charges, fees, or notice requirements as may be prescribed by the Lender from time to time.
Other up-front charges, if any (in Rupees)
  1. Documentation charges – ₹
  2. Insurance charges, if any (in Rupees) –
  3. Others, if any (in Rupees) –
Anny other charges (in Rupees)
  1. INR 590 per late payment or dishonor of cheque/ECS/NACH per presentation. Two successive cheque bounces/ auto debit failure will lead to loan recall notice being issued
  2. In case of a return of a purchase to a Merchant, a cancellation charge of 1.4% per month on outstanding principal would be payable.
  3. Any cash collection would include additional Rs 400 per pick up.
Annual Percentage Rate (APR) (Excluding applicable taxes ) %
Security From Borrowers NA
Security Deposit NA
Repayment Instrument
  • -Auto debit through registered NACH
  • -Through Payment Gateway
  • -Through online transaction (Write an email to payments@creditfair.in and we shall give you the link for repayment)
Security Deposit Interest Rate NA
Default Charges

Financial Default - 2.0% per month payable by the Borrowers on overdue amount for payment default.

Other Default - 2.0% per annum + Applicable Taxes payable by the Borrowers on Outstanding Dues for Other Event of Defaults, applicable from the date of default.
Existing Agreement Date (if any) NA
Processing Fee (Including GST at applicable rate)
Transaction Cost Each Party shall bear its own cost and expenses in relation to this Agreement or any other document in connection thereto. If the Lender is required to enforce the provisions of this Agreement, then the Borrowers shall within 3 (three) days of demand being made by the Lender pay the cost and expenses for enforcing its rights under this Agreement.
Lender's Disbursal Account
  • A/C TITLE - BLACKSOIL CAPITAL PRIVATE LIMITED
  • BANK NAME - IDFC FIRST BANK
  • ACCOUNT NO. - 10293471196
  • IFSC CODE - IDFB0040101
  • BANK ADDRESS - BKC-NAMAN BRANCH, GRD FLR, NAMAN CHAMBERS, C-32, G BLOCK, BKC, BANDRA EAST, MUMBAI-400051
Lender's Collection Account
  • A/C TITLE - BLACKSOIL CAPITAL PRIVATE LIMITED
  • BANK NAME - IDFC FIRST BANK
  • ACCOUNT NO. - 10245910063
  • IFSC CODE - IDFB0040101
  • BANK BRANCH ADDRESS - BKC-NAMAN BRANCH, GRD FLR, NAMAN CHAMBERS,C-32, G BLOCK, BKC,BANDRA EAST, MUMBAI-400051
Merchant’s Bank Account
  • Name of Holder :
  • Account Number :
  • Bank Name :
  • Branch Name :
  • IFSC Code :
Additional Terms and Conditions (if any) NA
Notice Details of the Lender 1203, Lodha Supremus, Senapati Bapat Marg, Opp. World One, Lower Parel, Mumbai – 400013
Notice Details of the Borrowers

Borrower:

Address:


Co-Borrower:

Address:

Mobile_number and email ID of the nodal grievance redressal officer
  • Name : Harshita Jain
  • Telephone: +022 69152200
  • Email ID: grievanceredressal@blacksoil.co.in
Cooling off in terms of Lender’s Board approved policy, during which Borrower shall not be charged any penalty on prepayment of loan

I/We declare that all the particulars and information and details given are true, correct, complete and up to date in all respects and that I/We have not withheld any information whatsoever. I/We have understood the terms and conditions of the loan product of Blacksoil Capital Pvt. Ltd. and I/We agree to abide by them. I/We understand and authorize Blacksoil Capital Pvt. Ltd. to extract reports, exchange, share, part with all information relating to my loan details and repayment history information to/from other Banks/Financial institutions/ Credit Bureaus/Agencies as may be required and shall not hold Blacksoil Capital Pvt. Ltd. liable for use of this information. I/We understand and acknowledge that Blacksoil Capital Pvt. Ltd. shall have the absolute discretion without assigning any reason (unless required by applicable law) to reject my/our application and that Blacksoil Capital Pvt. Ltd shall not be responsible/liable in any manner whatsoever to me/us for such rejection or any delay in notifying me/us of such rejection. I/We understand and acknowledge that Blacksoil Capital Pvt. Ltd. shall not be liable for any costs, losses, damages or expenses, or other consequences, caused by such rejection of our application. I/We shall submit, sign and execute all such loan agreements and other documents as may be prescribed and required by Blacksoil Capital Pvt. Ltd. at any point of time and the applicable stamp duty shall be payable by me/us. I/We hereby authorize Blacksoil Capital Pvt Ltd to undertake the necessary Central Know Your Customer (CKYC) procedures and disclosures required for the purpose of verifying and maintaining my/our identity information as per regulatory guidelines. I/We hereby grant permission to Blacksoil Capital Pvt Ltd to conduct a CIBIL verification for the purpose of assessing my/our creditworthiness and eligibility for the financial transaction requested, in accordance with regulatory and legal requirements.

This sanction letter will only be a letter of offer and shall stand revoked and cancelled, if there are any material changes in the proposal for which the Loan is sanctioned or; If any event occurs which, in our sole opinion is prejudicial to our interest or is likely to affect the financial condition of the Borrowers or his / her/ their ability to perform any obligations under the loan or; any statement made in the loan application or representation made is found to be incorrect or untrue or material fact has concealed or; upon completion of the validity period of 3 days of this offer unless extended by us in writing.

Best Regards

BlackSoil Capital Private Limited