Disbursement of loans including changes in terms and conditions

  • 1. The Company shall give notice to all its borrowers of any change in the terms and conditions - including disbursement schedule, interest rates, service charges, prepayment charges etc. The Company shall also ensure that changes in interest rates and charges are affected only prospectively. Any changes to the above charges shall be made available at our branches and also the website of the company (www.hridayfin.com.).The website address is also available on the application form.
  • 2. The Company has mentioned the penal interest charged for the late payment in bold in the agreement. A suitable provision in this regard shall be incorporated in the agreement.
  • 3. Any decision to recall/accelerate payment or performance under the loan agreement shall be in consonance with the Loan Agreement.
  • 4. All securities pertaining to the loan would be released on receipt of full and final payment of the loans, subject to any legitimate right or lien, and set-off for any other claim that HFPL may have against the borrowers.
  • 5. If such right of set-off is to be exercised, the borrower shall be given notice about the same with full particulars about the remaining claims and the conditions under which HFPL is entitled to retain the securities until the relevant claim is settled/paid.

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