Apply for Loan - People in Microfinance

*FacilityType	Individual Loan
*Loan Amount (in Figures)
*Loan Amount (in Words)	Rupees
*Tenure	Months
*Purpose of Loan
*Repayment Frequency	Daily Weekly

*This loan is categorised Microfinance

I/We, the Applicant (or "the Borrower" in case the loan is sanctioned) agree and acknowledge that:

The Applicant shall be severally liable to repay the Loan Obligations in accordance with the terms of loan Agreement and the other Financing Documents.

I/We declare that the particulars and information given in the application form are true, correct, complete and up-to-date in all respects and I/We have not withheld any information. I/We confirm that I/We have no insolvency proceeding indicated against me/us nor have I/We ever been adjudicated insolvent. I/We have read the application form and am/are aware of all terms and conditions of availing finance from People In Microfinance. I/We revised to authorise People In Microfinance to make reference and inquiries relating to information in this application which the Microfinance Company - wherever People In Microfinance is being referred to considers necessary. I/We authorise – wherever applicable the Microfinance Company to exchange, part/share with all information relating to my/our loan details and repayment history to other Microfinance Company or financial institution, etc. as may be required and shall not hold the Microfinance Company liable for use of this information. I/We undertake to inform the Microfinance Company regarding change of my residence/employment and to provide any further information that the Microfinance Company may require. I/We agree that My/Our loan shall be governed by the rules of the Microfinance Company which may be in force from time to time. I/We understand that the Microfinance Company has the right to reject my/our application without providing any reason thereof. The borrower(s)/co-applicant agree(s) to have given his/her express consent to the Microfinance Company to disclose all information and data furnished by them to Credit information companies (CIC's ) or any other credit bureau permitted to operate in India. The borrower(s)/co-applicant further agree(s) that they shall execute such additional documents as may be necessary for the purpose.

I/We hereby declare that the details furnished above are true and correct to the best of my/our knowledge and belief and I/We undertake to inform you of any changes therein, immediately. In case any of the above information is found to be false or untrue or misleading or misrepresenting, I/We am/are aware that I/We may be held liable for it. My/our personal/KYC details may be shared with central KYC registry. I/We hereby consent to receive information from Central KYC Registry through SMS/ Email on the above registered number/email address.

I/We undertake that the proceeds of this facility shall not be used for investment in the capital market or purchase of gold in any form including primary gold, gold bullion, gold jewellery, gold coins, units of gold Exchange Traded Funds (ETF) and units of gold Mutual Funds & Small savings instruments.

We also confirm that I/we have been explained the following:

The Microfinance Company may at its sole discretion sanction or decline the application. The Microfinance Company shall convey, the reasons, which in its opinion after due consideration, have led to rejection of the application.

The Microfinance Company will decide and assign the loan limit and no commitment has been given to me/us for the same.

The FE/ARM/Credit Officer has not collected any commission/brokerage or any other fee by way of cash or cheque or any other mode.

People In Microfinance Ltd. reserves the right to retain the photographs and documents submitted with this application and will not return the same to the applicant.

As per RBI guidelines, classification of accounts as NPA is done Borrower-wise and not Facility-wise and hence, it may be noted that in case of non-repayment of dues by the customer in case of any facility availed from the Microfinance Company and consequently the account is to be classified as NPA, all other loan accounts of the Borrower/Card holder, with the Microfinance Company also shall be classified as NPA as per the guidelines issued by RBI and it shall entitle the Microfinance Company to recall all such loans/facilities availed from the Microfinance Company, irrespective of regular payments in such accounts.

I/we authorize People In Microfinance to verify/authenticate my/our KYC OVDs/Aadhaar number/loan documents during processing my/our loan application through third party agencies digitally/physically for legitimate business purpose.

We understand the Loan amount/ Rate Of Interest / Fees and charges mentioned in the application are only indicative and the terms of the Loan will be guided by the terms of the Individual Loan Agreement/sanction letter accepted by me/us prior to disbursement.

The Microfinance Company loan facility shall not be used for any prohibited/illegal/unauthorised/speculative purposes.

FATCA- CRS Declaration: I am a tax resident of India and not resident of any other country. Yes No

I/We have read and understood the above Terms & Conditions.

I/We am/are director(s) of People In Microfinance Limited and also a director(s) / partner(s), manager(s), managing agent(s), employee (s), or guarantor(s) or holder(s) of substantial interest of the borrower or its subsidiary or its holding company. Yes No

I/We am/are director(s) of any other Microfinance Company or the subsidiaries of any of the Microfinance Companys or trustees of mutual funds / venture capital funds set up by the Microfinance Companys and also a director(s)/ partner(s), manager(s), managing agent(s), employee(s) or guarantor(s) or holder(s) of substantial interest of the borrower. Yes No

I/We am/are related(s) of the director(s) of People In Microfinance Limited or any other Microfinance Company, as defined by extant guidelines of RBI from time to time, and also a director(s) / partner(s) or guarantor(s) or major shareholder(s) or in control of the borrower or a major shareholder(s) or in control of the holding or subsidiary company of the borrower. Yes No

I/We am/are senior official(s) of the Microfinance Company or relative of the senior official of the Microfinance Company, as defined by extant guidelines of RBI from time to time, and also a director(s)/ partner(s), or guarantor(s) or holder(s) of substantial interest of the borrower. Yes No

If any of the above clause is applicable, then please furnish the details. In case if any of the above stated declarations are breached during the tenor of the facility, the borrower shall inform the Microfinance Company immediately. In case of non-compliance with the undertaking or giving wrong undertaking in relation to the provisions Connected Lending/ Section 20 of the BR Act at any time during the currency of loan, the Microfinance Company reserves the right to recall the loan immediately.

In the event that the Applicant/ Co-applicant is related to any of Expand BR - BR to be retained, no expansion director of People In Microfinance / director of the Microfinance Company / senior officer of People In Microfinance:

I/We declare (s) that we I/We am/are related to the director(s) and or Senior Officer(s) of People In Microfinance or any other Microfinance Company specified hereto :

If the above declaration is found to be false, then the Microfinance Company will be entitled to revoke and/or recall the credit facility.

If any of the above clause is applicable, furnish details

• Rate of Interest (ROI): 1 Year MCLR % p.a + Spread 15.85 % p.a = "Effective Rate of interest 25.00 % p.a". No Reset

• Other Charges – Other Charges including but not limited to statutory charges, such as stamp duty on documentation, etc., as applicable are payable on actual basis and any other charges as communicated to the customer by the Microfinance Company. Goods and Services Tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).

Insurance Premium: Borrower can opt to get either herself or co-applicant or both to get insured against sanctioned loan amount for the time period of equal to the loan tenure. The insurance premium, if opted, shall be deducted accordingly (Rounding off to nearest Rupee) from the sanctioned amount during disbursement and the remaining amount shall be handed over to the Borrower.

Insurance Consent:

Yes No

I/We wish to protect my/our family from the loan liability in case of an eventuality and voluntarily would like to opt for (Type/Name of Policy)

I/We have been informed by People In Microfinance about (Type/Name of Policy), Credit life shield insurance but I/We have decided not to opt for it and I/We completely understand that in case of an eventuality, the responsibility for EMI payment / loan repayment would remain & could fall on my /our family / firm, failing which, People In Microfinance would take necessary action(s) for recovery.

• I/We have been informed by People In Microfinance Ltd about life insurance cover under MLI Insurance Company's Life Shield Policy. We are aware that the insurance tenor is linked to loan tenor and sum insured covers the entire loan amount. I hereby give my consent to People In Microfinance to extend coverage to me/us under Life Shield- A group term life insurance policy taken by People In Microfinance for covering its microloans customers. I unconditionally agree and confirm in favour of People In Microfinance Ltd. to process my insurance claim application on my death and receive the claim amount and adjust the same towards my outstanding loan and pay balance amount to my nominee/legal heir/ beneficiary.

• I hereby authorise .. Life insurance company Limited to pay the outstanding loan balance as provided in the credit account statement to be provided by the master policy holder) to People In Microfinance Limited ("Master Policy Holder"), in respect of the loan availed of by me from the master policy holder (the application payment of which is mentioned herein), by deducting the same from the claim proceeds payable to my nominee/beneficiary under this group policy on the happening of the insured event.

Name of insurer (if known)

Kindly note that insurance plans from the insurance partner(s) engaged by the Microfinance Company (such insurance partner(s) are made available for your convenience and in case you opt for the same, we can assist you in the enrolment of the chosen plan. It is clarified that purchase of the insurance cover from such insurance partner(s) shall be voluntary/ optional and is not linked to availment of any product(s)/service(s) from the Microfinance Company. You may choose to avail the insurance cover from such insurance partner(s) or from any other insurance providers."

• Processing Fee: Borrower agrees to pay one-time, non-refundable processing fee of up to 2% of Sanctioned Amount plus applicable taxes (Rounded to Nearest lower 1) of the total sanctioned amount. The fee shall be deducted during disbursement and the customer will be provided with the balance amount.