@if(isset($user['co_applicant_name']) && $user['co_applicant_name'] == '') @endif

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

To,

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

{!! $user['address'] !!},    

Subject: Sanction letter/approval for Loan


Dear @if($user['gender'] == "MALE") Mr.@else Ms. @endif {!! $user['customer_name'] !!},

We are pleased to inform you that you are eligible for a loan facility from us as per the following terms:


@if(isset($signed_data[0])) @else @endif @if($user['merchant_id'] == 143) @else @endif upfront_from_credit_fair - $user['consumer_emi']->processing_fee); ?> @if(isset($user['loan_schedule']) && $user['loan_schedule'] != '') @if(isset($user['loan_schedule']['schedule'][0])) upfront_from_customer; $principal_amount = 0; $subvention = 0; $total_interest = 0; $total_subvention = 0; ?> @foreach($user['loan_schedule']['schedule'] as $key=>$loan_schedule) 0) { $principal = ($principal_amount + $user['consumer_emi']->upfront_from_customer) - $subvention; } else { $principal = $principal_amount + $user['consumer_emi']->upfront_from_customer; } ?> @endforeach @endif @endif 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)){ $aprrate = 0; } ?> @if($user['consumer_emi']->upfront_from_customer) @endif $id])); $interest_rate_reducing = $avanseProcesses->flatBalanceToReducingById($id); ?> 'Flat Balance Amount (Annualized)', 2 => 'Reducing', 3 => 'Flat Fixed Amount (Annualized)',4 => 'Flat (Non-Annualized)']; ?> @if(isset($user['proFormaInvoice']->insurance_premium_applicable) && $user['proFormaInvoice']->insurance_premium_applicable == 1) @endif approved_amount - ($user['consumer_emi']->upfront_from_customer); if ($user['is_gst_applicable'] == 0 && $loan_schedule['subvention']) { $netDisb -= $total_subvention; } ?> processing_fee) { $amountCB += $user['consumer_emi']->processing_fee; } ?> 12, 2 => 24, 3 => 52, 4 => 365, 5 => 4, 6 => 2, 7 => 1]; $frequecy_multiplier = ($user['frequency'] > 0) ? $payment_frequency_offer[$user['frequency']] : 12; ?> remaining_emi * 30 >= 7){ $cool_off = 4; }else{ $cool_off = 1; } ?> @if($user['purpose_of_the_loan'] == "Personal Loan") @else @endif @if($user['purpose_of_the_loan'] != "Personal Loan") @endif
Sr.No. Particulars Details
{!! $index++ !!}. Agreement Number {!! $user['application_id']!!}
{!! $index++ !!}. Loan application date {!! date('d-m-Y',strtotime($user['loan_application_date'])) !!}
{!! $index++ !!}. Loan Agreement date{!! date('d-m-Y',strtotime($signed_data[0]['click_time'])) !!} {!! date('d-m-Y',strtotime($user['date_of_reference'])) !!}
{!! $index++ !!}. Details of the Lender {!! $lender['name'] !!}
{!! $index++ !!}. Name of the Borrower @if(isset($user['co_applicant_name']) && $user['co_applicant_name'] != '')

Name of the Co-Borrower

@endif 		{!! $user['customer_name'] !!} @if(isset($user['co_applicant_name']) && $user['co_applicant_name'] != '')

Co-Borrower: {!! $user['co_applicant_name'] !!}

@endif
{!! $index++ !!}. Purpose of the loanEducation Loan{!! $user['purpose_of_the_loan'] !!}
{!! $index++ !!}. (i) Transaction Amount ₹ {!! money_format('%!i',$user['consumer_emi']->approved_amount) !!}/- (Rupees {!! \App\Http\Controllers\Admin\ConsumerDocument::convertAmountToWords($user['consumer_emi']->approved_amount) !!} )
{!! $index++ !!}. (ii) Down Payment ₹ {!! money_format('%!i',$user['consumer_emi']->upfront_from_customer) !!} /- (Rupees {!! \App\Http\Controllers\Admin\ConsumerDocument::convertAmountToWords($user['consumer_emi']->upfront_from_customer) !!} )
{!! $index++ !!}. (iii) Loan amount (amount disbursed/to be disbursed to the borrower) @if($user['consumer_emi']->upfront_from_customer) (i) - (ii) @endif ₹ {!! money_format('%!i',($user['consumer_emi']->approved_amount - $user['consumer_emi']->upfront_from_customer)) !!} /- (Rupees {!! \App\Http\Controllers\Admin\ConsumerDocument::convertAmountToWords($user['consumer_emi']->approved_amount - $user['consumer_emi']->upfront_from_customer) !!} )
{!! $index++ !!}. (iv) Total interest charge during the entire tenor of the loan ₹ {!! money_format('%!i',$total_interest) !!}/- (Rupees {!! \App\Http\Controllers\Admin\ConsumerDocument::convertAmountToWords($total_interest) !!} )
{!! $index++ !!}. (v) Rate of Interest {!! $interest_rate_reducing !!} % / (Reducing balance rate)
{!! $index++ !!} (v) Other up-front charges, if any (break-up of each component to be given below) (a + b) ₹ {!! money_format('%!i',$amountAB) !!}
{!! $index++ !!}. (b) Insurance Premium ₹ {!! money_format('%!i',$user['proFormaInvoice']->insurance_premium_amount) !!}
{!! $index++ !!}. (vi) Net disbursed amount @if($user['merchant_processing_collected'] == 1) (iii) @endif ₹ {!! money_format('%!i',($netDisb)) !!}/- (Rupees {!! \App\Http\Controllers\Admin\ConsumerDocument::convertAmountToWords($netDisb) !!} )
{!! $index++ !!}. (vii) Processing fees (including GST), if any ₹ {!! number_format($user['consumer_emi']->processing_fee) !!}/- (Rupees {!! \App\Http\Controllers\Admin\ConsumerDocument::convertAmountToWords($user['consumer_emi']->processing_fee) !!} )
{!! $index++ !!}. Total amount to be paid by the borrower (iv) insurance_premium_applicable) && $user['proFormaInvoice']->insurance_premium_applicable == 1) { ?> + (v) + (vi) processing_fee){ ?>+ (vii) ₹ {!! number_format(($amountCB)) !!}/- (Rupees {!! \App\Http\Controllers\Admin\ConsumerDocument::convertAmountToWords(($amountCB)) !!} )
{!! $index++ !!}. Annual Percentage Rate - Effective annualized interest rate {!! $aprrate !!}%
{!! $index++ !!}. Amount of each installment of repayment ₹ {!! number_format($user['consumer_emi']->emi) !!}/- (Rupees {!! \App\Http\Controllers\Admin\ConsumerDocument::convertAmountToWords($user['consumer_emi']->emi) !!} )
{!! $index++ !!}. Installment due date @php $emiDate = date('d', strtotime($user['consumer_emi']->emi_date)); @endphp @if ($emiDate == '05') 5th of every month @elseif ($emiDate == '18') 18th of every month @else {!! date('Y-m-d', strtotime($user['consumer_emi']->emi_date)) !!} @endif
{!! $index++ !!}. Tenor of the Loan (in months/days) {!! $user['consumer_emi']->tenure !!} months
{!! $index++ !!}. Repayment frequency by the borrower Monthly
{!! $index++ !!}. Number of installments of repayment {!! $user['consumer_emi']->remaining_emi !!} Installments
{!! $index++ !!}. Prepayment charges Zero
Details about Contingent Charges
{!! $index++ !!}. Rate of annualized penal charges in case of delayed payments (if any) 0.15% per day on outstanding amount
{!! $index++ !!}. Late Payments /Cheque /ECS /NACH dishonoured charges ₹ 300/- 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
Other disclosures
{!! $index++ !!}. Cooling off/look-up period during which borrower shall not be charged any penalty on prepayment of loan {!! $cool_off !!} days
{!! $index++ !!}. Details of LSP acting as recovery agent and authorized to approach the borrower https://creditfair.in/list-of-lsp
{!! $index++ !!}. Name, Designation, Address and Phone number of nodal grievance redressal officer designated by LSP for lending related complaints/ issues Name: Shraddha Mandlik
Designation: Grievance Redressal Officer
Address: Grievance Redressal Officer Credit Fair
(K. M. GLOBAL Credit PRIVATE LIMITED)
6A, 6th Floor, Corporate Centre, Andheri Kurla Road,
Near JB Nagar Metro Station, Andheri East, Mumbai 400059
Telephone no.: +91 9137504870
E-mail ID.: grievance@creditfair.in
https://creditfair.in/grievance-policy
{!! $index++ !!}. Name, Designation, Address and Phone number of nodal grievance redressal officer designated specifically to deal with FinTech/ digital lending related complaints/ issues Name - Maria Nadar
Designation - Grievance Redressal Officer
Email Id - grievance@creditfaircapital.in
Telephone - 8097400463
Address - K.M. Global P2P Finance Pvt Ltd.,
Surya Mahal 4th Floor,
5 Burjorji Bharucha Marg
Mumbai-400001
{!! $index++ !!}. Details of the Lender Lender Group: {!! $id !!}
{!! $index++ !!}. Undated Cheques & Cash Collection We are collecting 2 undated cheques. One of Loan Amount & one Security Cheque of EMI Amount. Unused cheques will be shredded at our end after successful repayment of the loan. Any cash collection would include additional Rs 400 per pick up.
{!! $index++ !!}. Details of the Merchant Name: {!! $user['customer_name'] !!}
Address: {!! $user['address'] !!} 		Name: @if(isset($user['official_merchant_name']) && $user['official_merchant_name']) [{!! $user['official_merchant_name'] !!} ] @endif @if(isset($user['merchant_name']) && $user['merchant_name']) ({!! $user['merchant_name'] !!}) @endif
Address: {!! $user['merchant_address'] !!}
{!! $index++ !!}. General Terms and Conditions General Terms and Conditions registered on the {!! date('d/m/Y',strtotime($lender['registaration_date'])) !!} with the SubRegistrar of Assurances {!! $lender['SubRegistrar'] !!}, Vide registration no. {!! $lender['vide_registration'] !!} in Book No. - Vol. No. -from pages {!! $lender['firstpage'] !!} to {!! $lender['lastpage'] !!} will be applicable for the Loan availed by the Borrower. The same shall form part and parcel of this Most Important Document https://creditfaircapital.in/privacy-policy
{!! $index++ !!}. Merchant Refunds & Loan Cancellations 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.
upfront_from_customer); $annualized_interest_rate = round(((($repayable - $principal) / $principal) * ($frequecy_multiplier / $user['consumer_emi']->remaining_emi)) * 100, 2); ?>


The terms of this loan sanction shall also be governed by General Terms and Conditions, which you may kindly read before confirming your acceptance. The said documents are incorporated here by way this reference, Borrower's acceptance to the terms of this letter and the General Terms and Conditions should be informed to the Lender by submission of a signed copy of the Most Important Document with the terms understood by the Borrowers. Further, each of the Borrowers shall be jointly and severely responsible for compliance to the terms of this loan sanction and for repayment of the loan amount disbursed.

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.

@if($user['proFormaInvoice']->insurance_premium_applicable == 1)


Insurance Clause:
The Lender has indicated to the Borrower / Guarantor about the availability of insurance cover. The Borrower and / or Guarantor may opt for a Life Insurance cover and have explicitly indicated the option for insurance cover in the application form. The Borrower / Guarantor hereby acknowledges that the insurance cover is optional and is at the request of the Borrower. It is clearly understood by the Borrower and the Guarantor that the Lender is not liable for admission of any claim by the insurance company and the settlement thereto. The Borrower/Co-Borrower hereby authorizes the Lender to receive any claim amount that may be paid by the Insurance Company as against any Insurance Policy that may have been taken by the Borrower (at the option of the Borrower), and appropriate the same to the loan account of the Borrower. In the event the claim amount is not sufficient to cover the liability in the account, the Borrower hereby undertakes to remit the balance due under this Agreement. The discharge given by the Lender to the Insurance Company on behalf of the Borrower.

@endif

Best Regards,

{!! $lender['signed_by'] !!}

@if($lender['name'] == "K. M. Global Credit Private Limited") @else @endif @if($user['is_gst_applicable'] == 0 && $subvention > 0)

*{!! round(((($repayable-$principal)/$principal)*(12/$user['consumer_emi']->remaining_emi))*100,2) !!}% Flat rate OR {!! round(($user['loan_schedule']['summary']['annualised_irr'])) !!}% reducing balance rate

{{--

* {{round($interest_rate,2)}}% flat rate OR {{round($user['loan_schedule']['summary']['irr'],2) }}% reducing balance rate

--}} @elseif($user['consumer_emi']->interest_type_id != 2)

* {!! $user['consumer_emi']->interest_rate !!}% @if($user['consumer_emi']->interest_type_id != 4)p.a. @endif @if($user['consumer_emi']->interest_type_id == 4 && $user['consumer_emi']->interest_rate > 0)(Annualised Rate - {!! round(($user['consumer_emi']->interest_rate/$user['consumer_emi']->remaining_emi)*12,2) !!} %)@endif @if($user['consumer_emi']->interest_type_id == 1) (Flat Balance Amount) @elseif($user['consumer_emi']->interest_type_id == 2) (Reducing) @elseif($user['consumer_emi']->interest_type_id == 3) (Flat Fixed Amount) @else Flat rate @endif OR {!! round($user['loan_schedule']['summary']['annualised_interest'],2) !!}% reducing balance rate

@endif
{!! $lender['name'] !!}
Non Banking Finance Company . CIN No. {!! $lender['cin'] !!}
{!! $lender['address'] !!}
{!! $lender['website'] !!} | {!! $lender['email'] !!}
{!! $lender['name'] !!}
Non Banking Finance Company . CIN No. {!! $lender['cin'] !!}
{!! $lender['address'] !!}
{!! $lender['website'] !!} | {!! $lender['email'] !!}
CREDIT FAI₹
Credit Fair (K. M. Global Credit Private Limited) Office no. 501, B wing, Naman Midtown,
Senapati Bapat Marg, Gokhale Road, Dadar West, Mumbai 400028
www.creditfair.in | info@creditfair.in | 9967235047