LOAN AGAINST FIXED DEPOSIT TERMS AND CONDITIONS

I. General Terms and conditions:

By clicking the 'Proceed” or similar button on the screen and by entering the one-time password (“OTP”) sent by Bajaj Finance Limited (“BFL”) where these terms and conditions (“Application Terms”) are hyperlinked, I hereby agree and acknowledge that:

1. I am 18 years of age or older and I can understand, read and write in the English language;

2. I hereby apply for Loan against Fixed Deposit(“LAFD”) from Bajaj Finance Limited (“BFL”).

3. I shall not utilize the loan for any illegal, speculative, nefarious, fraudulent or unlawful purposes.

4. the deposit placed as security, rightfully belong to me and I have not encumbered, assigned or otherwise dealt with the said deposit receipt in any other manner and that the said deposit is free from all encumbrances

5. I agree to repay the entire outstanding (principal + interest) before maturity of the underlying deposit, failing which the outstanding will be adjusted from the maturity proceeds of the underlying deposit

6. the deposit shall be placed under lien in favour of BFL for Loan availed by me. I hereby explicitly confirm that I hereby waive my right of withdrawal of the consent provided by me till the time the loan is repaid in full together with applicable interest to BFL.

Further, I agree that my action of submission of the OTP sent by BFL, constitutes a valid acceptance by me of the terms and conditions contained herein, which shall have binding effect on me.

7. I hereby expressly authorise BFL:

(a) to hold my deposit as a security for the outstanding balances together with interest and other charges on the loan amount and/or any other amounts payable to BFL under any other accounts(s)/ agreement(s).

(b) to use the information and/or documents/KYC furnished/submitted by me/us at the time of opening of the said deposit, for the present application as well.

(c) to use and/or share all information and details as provided by me/us in this application and in relation to my/our existing advances/loans and/or repayment history to any third party including but not limited to its group companies, financial institutions, credit bureaus, Central KYC Registry (CERSAI), statutory/regulatory/judicial/quasi-judicial/enforcement authorities etc., as may be necessary for activities which ancillary / incidental to the business of BFL and/or to comply with the requirements under Law and/or Regulations and I shall not hold BFL or any of its group companies or its/ their agents/representatives) liable for use/sharing of the information as stated above

(d) its representatives/agents/ its business partners/its group companies/affiliates to send me service communications in respect of products availed by me/us including but not limited to loans, insurance and other products from BFL, its group companies and/or third parties (collectively “Other Products”) through telephone calls/SMSes/emails/post/bitly/bots/ in person communication, marketing and promotional communication etc., I/we shall not hold BFL (or any of its group companies or its/their agents/representatives) liable for the use of the information as stated above.

(e) to retain the documents submitted by me/us regarding the said facility along with the Application -form during the tenure of my account relationship with BFL and for a further period of five years after closure of my account and destroy the said document after five years on closure of my loan.

8. I hereby confirm that all the, information and details including but not limited to financials/bank statements and KYC details, provided/to be provided by me pursuant to my application are true, correct and up-to-date. I have not withheld any material information that may be required by BFL. I would keep BFL updated of any change in the information provided by me, specifically KYC details, Bank details, etc.

II. Specific Terms relating to Loan against Fixed Deposit:

1. Eligibility for loan will be considered against principal deposit amount only. The amount of loan will not exceed 75% of the Deposit amount at any point of time in case of cumulative schemes and will not exceed 60% of the Deposit amount in case of non-cumulative schemes.

2. Interest Rate Methodology: Rate of Interest on loan will be 2% p.a. above the deposit interest rate. In addition, any other charges by way of tax/levy, applicable on interest shall be payable by the depositor, as may be applicable from time to time. Interest is calculated on simple interest basis and will be recovered from the deposit amount on the date of maturity or premature withdrawal.

3. The period of loan will be up to the date of maturity of the deposit.

4. As per RBI guidelines, Loan against deposit can be considered only after completion of three months from the date of acceptance of deposit.

5. The Application for loan against deposit can be made 1 (one) month before the maturity of the Deposit and the Deposit shall be renewed from time to time, till all the Outstanding Dues payable under the said loan are duly repaid to the satisfaction of BFL.

6. In case application for loan against deposit is made through physical application form, then original FDR needs to be submitted to BFL along with the application form. In case the application for loan against deposit is made through online mode, original FDR is not required.

7. In case of joint Depositors, all the depositors shall apply jointly for availing Loan against deposit and the liability of such joint depositors will be joint and several. In case any of the depositor is Minor, please note that, a Minor is NOT eligible for loan against deposit.

8. The said amount of loan against deposit will be protected by placing Lien on the deposit in favour of BFL and by signing the Promissory Note.

9. The FD where attachment order/garnishee order is received and where there are any claims/disputes brought to the notice of BFL, are not eligible for Loan against fixed deposit.

10. During the tenure of the loan, if the Deposit is attached by any Statutory/Judiciary/Regulatory authority, the liability to repay within the maturity period of Deposit shall continue unabated and as a Borrower, the Depositor shall be liable and responsible to pay the same together with interest.

11. The loan amount consisting of principal and interest shall be repaid in full at any time prior to the completion of tenure of loan availed, as the case may be. The outstanding loan amount, and any other charges (including interest rate), if any, will be recovered from the deposit amount on the date of maturity or premature withdrawal. Foreclosure of the loan can be done online as well as in any of our branches.

12. Further, in the event, the Borrower/ Applicants fails to repay the outstanding loan amount, the Borrower/ Applicants authorizes BFL to appropriate Fixed Deposit amount for repayment of the outstanding loan availed including interest accrued thereon even before the maturity of the Deposit.

13. BFL may, at any time recall and/or foreclose the loan with prior notice to the Borrower and revise the repayment schedule, in its sole and absolute discretion.

14. The Borrower/Applicant confirms that his/her name does not appear on any of the list of wilful defaulters (LWD) as published by the Lender on its website or any other bank or financial institution / Reserve Bank of India’s caution list and is not under investigation by any investigation / enforcement agency or regulatory body and Borrower/Applicant has not and shall not do any such act so as to qualify it/them as a willful defaulter according to the guidelines/circular issued by the Reserve Bank of India in this regard from time to time

The Lender shall not renew/ enhance/ provide fresh credit facilities or restructure existing facilities provided to such a Borrower/Applicant so long as the name of Borrower(s) remains in the LWD.

15. The above terms and conditions pertaining to loan against deposit are subject to change with an intimation to depositor/applicant and at the sole discretion of BFL. Any revision in the interest rate shall be effective from prospective date and BFL shall notify the same to the depositor/Applicant in advance which shall be communicated by letter/email/SMS/Website <https://www.bajajfinserv.in/fixed-deposit-archives> or through any digital mode to the registered mobile/Email to registered email id of the Applicant and/or hosting on website and the same would be binding on the Applicant

16. Any communication notified on the registered mobile number/email id of the Applicant/Depositor/Borrower shall be construed as sufficient notice to the Applicant/Depositor/Borrower.

17. The lien of Fixed Deposit shall remain in full force notwithstanding any security arrangement which may be reached between the Borrower/ Applicant and BFL.

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