The Most Important Terms and Conditions (MITC) of loan between the borrower/s and Easy Home Finance Limited having its registered office at 302, 3rd Floor, Savoy Chambers, Dattatray Road & VP Road extension, Santacruz West, Mumbai - 400054 (hereinafter referred as “EHFL”) are agreed upon and mentioned below.

1. Loan: Loan is sanctioned basis a combination of several factors like repayment capacity, collateral security, past and present credit history and other risk parameters. Borrower is/are advised to refer to the loan agreement to know the loan amount sanctioned.

2. Interest:

1. Type (Fixed or Floating or Semi-Fixed): EHFL offers either Floating/ Semi-Fixed rate loans to all its Borrower/s. Semi-Fixed rate loan is of fixed rate of interest during initial years and floating rate of interest thereafter. Borrowers is/are advised to refer to the loan agreement to know the period of fixed and variable rate period of loan sanctioned.

2. Interest Chargeable: Floating Rate of Interest is computed with reference to the EHFL- Reference Rate of EHFL together with the margin, if any, as specified in detail in the loan agreement. Indicative ROI under EHFL- Reference Rate is presented below:

*The Interest rate mentioned above is subject to change as per Pricing Policy of the Company from time to time. 

1. 3. Moratorium or Subsidy: EHFL do not offer Interest Moratorium or any Subsidy on its loans to Borrower/s.
2. 4. Date of reset of interest: Interest Rate Reset Revision Cycle is quarter of Calendar year beginning from first day of January, April, July, and October of each year. EHFL- RR will be reset on the first day of the quarter following the month in which the EHFL-Reference Rate is changed.
3. 5. Modes of Communication of changes in interest rate: Any change in EHFL- Reference Rate would be duly communicated to the borrower/s at the contact details available with EHFL through SMS/ E-mail/ Courier or any other electronic mode prevalent for the time being.
4. Installment types: Monthly as agreed between the parties.
5. Aadhaar Declaration: EHFL offers an online service option to its applicants to eSign (electronic signatures) the applications and other permitted documents subject to submission of Aadhaar based E-sign declaration to be provided by the applicants.
6. Loan Tenor: EHFL offers a wide range of loan tenors starting from 1 year up to 20 years depending on a combination of various parameters like age of borrower/s, loan product, collateral security etc. Borrower/s is/ are advised to refer the loan agreement to know the loan tenor sanctioned.
7. Purpose of the Loan: The EHFL offers a variety of loan options depending on the requirement of the Borrower/s like Home Loan for Purchase or Construction or Renovation or Purchase of Land or Loan against Property or Loan for Purchase of Commercial Property etc. Borrower/s is/are advised to refer the loan agreement to know the Purpose of Loan sanctioned.

1. ON FORCECLOSURE

* The above-mentioned charges/ fees are as on date of the loan agreement and are subject to change from time to time. For latest updated details of applicable fee and other charges, please refer to the EHFL’s official Website (www.easyhomefinance.in)

All applicable fees & charges are subject to levy of GST and Surcharge, and is payable in addition to the fees/ charges.

8. Security/ Collateral for the Loan: Security of the loan would generally be security interest on the property being financed and/ or any other additional security in the nature of additional property/ Guarantors as may be mandated by EHFL. Borrower/s is/are advised to refer the loan agreement and sanction letter to know the security details of the loan sanctioned.

9. Insurance of the property/ Borrower/s:
   1. The Borrower/s shall keep the property under security insured with comprehensive insurance policy equivalent to the loan outstanding at any point of time during the pendency of the loan with EHFL as the sole beneficiary under said policy/ policies.
   2. The Borrower/s may keep his/ their life insured equivalent to loan outstanding at any point of time during the pendency of the loan with EHFL as the sole beneficiary under said policy/ policies.
10. Conditions for Disbursement of the loan:

EHFL shall not disburse any loan to the borrower/s unless the condition mentioned in the sanction letter and loan agreements are complied with to the satisfaction and sole discretion of EHFL, few of which are given below:

• The Borrower must fulfill the EHFL’s requirement of credit worthiness.

• Execution of loan agreement and such other ancillary documents.

• Submission of cheques/ ECS/ ACH/ etc. any other clearing system in force for the time being towards repayment of installments creation of security in favour of EHFL.

• Utilization of disbursement should be as per the end-use specified.

• The Borrower must disclose every material fact which may affect the Borrower/s loan proposal.

11. Repayment of Loan & Interest:

Repayment of Loan to be by way, of pre-EMI/ EMI during the entire tenor of the Loan as per terms outlined in the loan agreement. Borrower/s are advised to refer to the loan agreement for details of repayment, in Equated Monthly Installments (EMI/ Pre-EMl) or other payments, EMI cycle, due dates etc. Any change in the EHFL-Reference Rate would be communicated in advance as per clause 2(v) mentioned above.

12.     Brief procedure to be followed for Recovery of Overdue:

On the occurrence of Event of Default as mentioned in the loan agreement, the Borrower/s to be sent reminder from time to time for payment of the outstanding amount on his loan account by Telephone, E-mail, Courier, SMS and/ or to the third parties appointed for collection purposes to remind, follow-up and collect dues. The Collection methodology broadly includes the following:

1. 1. Tele-Calling: It involves contacting the Borrower/s over the phone and making them aware about the missed due date and requesting to pay the arrears at the earliest.

1. 2. Field Collection: It involves meeting the Borrower/s and collecting payment of the amount due. The activity shall be carried out through employees of EHFL or authorized representatives. The payment would be collected either in cash or in the form of a cheque/ DO against the valid receipt only which will be issued to Borrower/s.

1. 3. Legal Action shall be taken based on circumstances of each delinquent account, as per EHFL policy and pursuant to the provision of applicable laws. Hence, EHFL shall use a judicious mix of field visit, written communication and legal action to ensure proper and effective coverage for the different category of delinquent account.

13. Annual Outstanding Balance Statement:

The Lender will issue the Annual Outstanding Balance Statement along with Annual Income Tax Certificate for the preceding Financial Year to all Home Loan Borrower/s in the first quarter of every financial year.

14. CLSS Scheme: Kindly note that Credit Linked Subsidy Scheme with respect to eligible beneficiaries belonging to Economically Weaker Sections/Lower Income Group (EWS/LIG) is valid up till 31^st March, 2021; subject to extensions, if any.

As per notification dated 31^st December, 2018 vide No. 1-11016/15/2016-HFA-4(Pt.)/E.9029212 Credit Linked Subsidy Scheme with respect to eligible beneficiaries belonging to Middle Income Groups (MIG) is further extended till March 31, 2021.

15. Customer Services:

1. Borrower/s can visit the Service Branch during visiting hours of 10:00 am to 5:00 pm from Monday to Friday (Except on Public Holidays).

b) Borrower/s can contact our Call Centre at 1800-22-3279 (toll free) between 10:00 am – 5:00 pm from Monday to Friday (Except Public Holidays).

3. Borrower/s can reach to Customer Service vide e-mail: customercare@easyhomefinance.in.
4. Indicative Timelines of common request servicing:
5. 1. Loan account statement - 7 working days from date of request
6. 2. Photocopy of the title documents - 14 working days from date of request

Return of original documents on closure/ transfer of loan – 14 working days from date of request.

16. Grievance Redressal:

For any service-related issue including obtaining documents or in case of any complaint & grievance, the Borrower/s may communicate in writing, orally, electronically through e-mail, website, telephone and modes given below. The Borrower/s may contact our Office through any of the following channels:

• By telephonic communication with our Call Centre on 1800-22-3279 (toll free) between 10:00am - 5:00pm from Monday to Friday (Except Public Holidays).

• By way of e-mail: customercare@easyhomefinance.in
• By way of written letter addressed to Customer Service - Home Loans, Easy Home Finance Limited, 302, 3rd Floor, Savoy Chambers, Dattatray Road & VP Road Extension, Santacruz West, Mumbai - 400054
• By way of physically visiting the Service Branch and lodge complaint in the Complaint Register maintained therein
• Borrower can further escalate their complaints, if any to: Head of Compliance: Mr. Siddharth Mehta (email: compliance@easyhomefinance.in)
• ln case the complainant is dissatisfied with the response received from EHFL or where no response is received, the Complainant may approach Complaint Redressal Cell of National Housing Bank by lodging its complaint in online mode at the link https://nhb.org.in OR in offline mode by post, in prescribed format, available at link:  http://www.nhb.org.in/Grievance-Redressal to Complain Redressal Cell, Department of Regulation & Supervision, National Housing Bank, 4th Floor, Core 5A, India Habitat Centre, Lodhi Road, New Delhi-110003

These MITC shall be governed by the Laws of India. It is hereby agreed that for detail terms and conditions of the Loan, the parties hereto shall refer to and rely upon the loan and other security documents executed / to be executed by them.

The above terms and conditions have been read by the Borrower/s /read over to the borrower, understood and agreed upon Borrower/s.