Page 75 - business%20kit%20print%20-%20V.6%2005.11.18

02 - FAQs on Sanction Process

1. Can you explain the importance of sanction letter?

The sanction letter is an important document. It is the second stage of con-
tract i.e., “offer and acceptance”. The offer by the lender constitutes terms of
loan like Amount, Tenor, ROI, EMI, Fees and specific conditions stated based
on each case and it should be accepted by the customer. The authorized
credit manager signs on behalf of PCHF and the applicant and co-applicants
need to sign on all the pages of the sanction letter confirming the acceptance
of the terms of loan.

2. How should I get the sanction letter signed by the customer?

Since it is a legal document, the sanction letter should be signed by the
applicant and co-applicants in the presence of PCHF employee. The signature
should be cross checked with the KYC documents and application form
collected at the login stage.

3. What if the customer gives acceptance of the sanction letter on
e-mail, SMS or whatsapp or any other app?

It is not acceptable. We need to collect the original sanction letter duly
signed by all the applicants and co-applicants to proceed with loan
disbursement formalities.

VERSION - 6 75