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MITC

Purpose :
MITC is a standard document informing the customer about the terms
and conditions of the contract as per the regulatory guidelines. This
document is signed in duplicate and we need to handover a copy to the
customer marked “Customer Copy”. This document will be executed for
all loan transactions.
MOST IMPORTANT TERMS AND CONDITIONS (MITC)
Loan Reference No.:0123456123111( Refer to sanction letter for Loan
account/Loan reference no.)
The Most Important Terms and Conditions (MITC) of the loan between Mr/
Shri. Ranjeet Kapil Sharma and Mrs/Smt. Sheetal Ranjeet Sharma (The
name of applicant and co-applicants should be mentioned in this space.) ,
the borrower/s and Piramal Capital & Housing Finance Limited, a Company
incorporated under the Companies Act, 2013 and having its registered of-
fice at Piramal Housing Finance Ltd, Second Floor, Piramal Tower, Peninsula
Corporate Park Ganpatrao Kadam Marg, Lower Parel Mumbai Mumbai City
MH 400013, hereinafter called “PCHF” are agreed upon and mentioned as
under:
1. Loan Sanctioned Amount: Rs. 15,27,000 (The loan amount approved
and accepted as stated in the sanction letter should be mentioned here)

2. Interest:
a) Type: Floating (Interest can be fixed or floating. As stated in the
sanction letter)
b) Interest chargeable: 9.00 % per annum (Interest rate as per the sanc-
tion letter should be stated here)
c) Moratorium or subsidy: NA (Wherever moratorium or subsidy
has been offered, the same should be stated here.)
d) Date of reset of interest: Monthly
e) Modes of communication of changes in Interest rate: PCHF Informs of
such change in interest rates through a ‘press release’ in major leading
newspapers across India and on its website: www.piramal housing.in

3. Installment Types: Monthly (Take this detail from sanction letter)

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