Loan Agreement

1. Quick Overview of Loan Details

Loan Amount: Up to Rs. 4,00,000
Repayment Period: 91 to 180 days
Processing Fee: Up to 2% of the loan amount
Daily Interest Rate: 0.08%
Annual Percentage Rate (APR): 28.73%

Example Scenario:
If you borrow Rs. 20,000 for 3 months at an APR of 28.73%, a processing fee of Rs. 400 along with Rs. 72 in GST will be charged, bringing the total fee to Rs. 472. The total interest over the loan term will amount to Rs. 1,417. Your monthly EMI will be Rs. 7,139, and the total amount to be repaid will be Rs. 21,417. You will receive Rs. 19,528 after the processing fee and GST are deducted.



2. Pledges by Dandona Cash

a. Fulfillment of Loan Provision: Dandona Cash will execute the loan provision to the borrower in a single disbursement, conforming to the conditions of this agreement.

b. Repayment Strategy Guidance: Dandona Cash promises to deliver an explicit repayment guide, highlighting the repayment duration, payment sums, and other essential data, aiding the borrower in the timely repayment process.

c. Security of Personal and Repayment Data: Dandona Cash vows to securely manage the borrower's personal details and repayment records, ensuring these are not disclosed or misused.



3. Determination of Loan Amount

The value of the loan to be disbursed to the borrower shall be determined based on the amount requested through the loan application submitted to the lender. Following a mutual agreement on the requested amount by both the borrower and the lender, the loan will be executed in compliance with the terms outlined in this agreement.


4. Loan Repayment Conditions

· Repayment Onset: The borrower shall commence loan repayments in accordance with the agreed terms and schedule from the date this agreement takes effect, continuing until the full repayment of the loan principal and interest.

· Penalty for Repayment Delays: If repayment is not made timely, interest on the overdue amount will be charged at the annualized rate mutually agreed upon from the date of delay until the complete clearance of the outstanding loan principal and interest.

· Provision for Early Repayment: The borrower holds the right to repay the outstanding loan balance, either partially or in its entirety, before the close of the repayment period.


5. Borrower's Assurance

a. Agreement Compliance: The borrower fully understands this agreement and agrees to meet all its conditions and obligations.

b. Information Veracity: The borrower ensures the veracity, precision, and fullness of the provided information, without any falsehoods.

c. Fulfillment of Repayment: The borrower will adhere to the repayment timeline, settling the principal and interest in accordance with the plan laid out in the application.

d. Permit for Credit Examination: The borrower grants the loan service provider the authority to assess their creditworthiness and repayment potential as necessary.


6. Agreement Modification Process

For any modifications, including changes or amendments to this Agreement's terms, a written form is required, which must be mutually agreed upon and officially signed by both parties to be valid.


7. Dispute Settlement

This agreement is subject to Indian legal statutes for both its interpretation and application. In the event of any disputes stemming from this contract, the parties will initially attempt to resolve the issues amicably. Should these attempts not result in a resolution, the matter will then be referred to an appropriate court within India's jurisdiction for legal proceedings.