Offer-cum-Sanction letter
Date: 2024-09-29
Dear ANAND SAWALE
We are pleased to inform you that your application for the loan on the PayWithRing App has been conditionally approved by Northern
Arc Capital Limited , an RBI approved NBFC, on the basis of your application details submitted by you. The sanction letter doesn’t
guarantee the final disbursement of the loan. The lender shall evaluate your creditworthiness before final disbursement
Transaction Reference ID INST6217259131575926
Purpose of Loan None
Lender Northern Arc Capital Limited
Product Type Longterm Personal Loan
Approval Date 2024-09-29
Loan Amount 15000.00
Annualized Interest Rate (% per annum) 45.00
Interest Amount 1136.00
Interest Type Fixed
Processing Fees (inclusive of GST) 1062
Annual Percentage Rate (APR) 93%
Tenure 3 Months
Total Amount to be Paid 16136
Validity Period of the offer 30 days from the date of offer
Refer to the Key Fact Statement for more details
To understand your risk classification in accordance with the criteria decided by the company, click here
https://www.northernarc.com/reach-us. In case of any concerns, feel free to reach out to the customer care team at
customersupport@northernarc.com and quote your transaction number for easy reference.
Digitally Signed by SI CREVA CAPITAL SERVICES
PRIVATE LIMITED
Date:2024-09-29 13:45:58 UTC
Form verified by Employee Name :Tushar Panhale
Employee Code: SCCSPL100461
Application Form No. INST6217259131575926
KEY FACT STATEMENT
Name of Borrower ANAND SAWALE
Room No 27, Siddheshwar Park Kamalapur Ranjangaon Near Haji Ali Dargah Aurangabad
Address of the Borrower
MAHARASHTRA 431133
Name of Lender Northern Arc Capital Limited
Name of the Lending Service Provider
Si Creva Capital Services Private Limited and OnEMI Technology Solutions Private Limited
(LSP)
Name of the Digital Lending
Paywithring
Application (DLA)
Sr.no. Parameter Details
Disbursement Date -
(i) Loan Amount (in Rs.) 15000
Annualized Rate of Interest (% per annum) 45%
(ii) Total Interest Amount (in Rs.) 1136
(iii) Processing charge (in Rs.) (Inclusive of GST) 1062
(iv) Net Disbursement Amount (in Rs.) (i)-(iii) 13938
Total Amount to be Paid (in Rs.) (sum of (i), (ii) and
(v) 16136
(iii))
Annual Percentage Rate (% per annum) Effective
annualized interest rate (in percentage)
(vi) 93%
(computed on Net Disbursed Amount using IRR
approach and reducing balance method)
(vii) Tenure of the Loan (in months/days) 3 Months
(viii) Repayment frequency by the borrower Monthly
(ix) Number of instalments of repayment 3
Amount of installments of Repayment (in Rs.) (as
(x) 5380
per Annexure A)
Details about Contingent Charges
Rate of annualized penal charges in case of
(xi) Refer - Annexure B
delayed payments (if any)
Rate of annualized other penal charges (if any);
(xii) Refer - Annexure B
(details to be provided)
Other disclosures
Cooling off/look-up period during which borrower
(xiii) shall not be charged any penalty on prepayment 3 Days
of loan
Si Creva Capital Services Private Limited and OnEMI Technology
Details of LSP acting as recovery agent and
(xiv) Solutions Private Limited and for other recovery agents details please
authorized to approach the Borrower
Digitally Signed by SI CREVA CAPITAL SERVICES
PRIVATE LIMITED click here https://sicrevacapital.com/collection-agencies/
Date:2024-09-29 13:45:58 UTC
Form verified by Employee Name :Tushar Panhale
Employee Code: SCCSPL100461
Application Form No. INST6217259131575926
Name, designation, address and phone number of
nodal grievance redressal officer designated
(xv) Refer Annexure- C
specifically to deal with FinTech/ digital lending
related complaints/ issues
(xvi) Details of recovery mechanism Refer Annexure- D
Digitally Signed by SI CREVA CAPITAL SERVICES
PRIVATE LIMITED
Date:2024-09-29 13:45:58 UTC
Form verified by Employee Name :Tushar Panhale
Employee Code: SCCSPL100461
Application Form No. INST6217259131575926
Annexure A: Repayment Schedule:
Instalment Instalment Outstanding Principal (in Principal (in Interest (in Instalment (in
No. Date Rupees) Rupees) Rupees) Rupees)
1 2024-10-29 4825 555 5380
2 2024-11-29 4991 389 5380
3 2024-12-29 5184 192 5376
Note:
a. Please note that this Key Fact Statement and the repayment schedule is applicable in respect of availing a Loan as of this moment,
and is intended to be merely illustrative in case if the Loan is intended to be availed in future. For the sake of clarity, if the Loan is
availed in future, in that case depending upon the actual amount intended to be availed by the borrower and the actual date of
disbursement, a revised Key Fact Statement and the repayment schedule shall be shared, before the execution of the Loan
contract.
b. If the borrower decides to prepay the loan, in that case depending upon the pre-payment amount, a revised repayment schedule
shall be shared, effective from the prepayment date.
Digitally Signed by SI CREVA CAPITAL SERVICES
PRIVATE LIMITED
Date:2024-09-29 13:45:58 UTC
Form verified by Employee Name :Tushar Panhale
Employee Code: SCCSPL100461
Application Form No. INST6217259131575926
Annexure B- Details of Contingent charges:
Late Payment charges:
Bounce Charges (One- Rs.750 + applicable taxes per EMI per instance of default and the same is payable apart from payment
time fee) of applicable Penal charges
Penal Charges for continuing default in repayment of EMI @ 0.2% (Per day) + applicable taxes of the
Penal Charges
overdue principal amount at an annualized rate of 85% p.a (Inclusive of all taxes)
Important Notes
Bounce Charges & Penal Charges will be applied if the EMI repayment is done after the scheduled due date or if otherwise applicable
as per the terms of the Financing Document (collectively referred to as “Late Payment Charges”).
4% + applicable taxes on the principal amount foreclosed. The foreclosure charges will not be
Foreclosure charges
applicable during the cooling-off period.
Other charges Stamp duty and other cess would be collected at applicable rates from time to time.
Important Note:
As and when any updates to the fees & charges are introduced by the Lenders, the borrower shall be intimated about such changes
by email or otherwise in the manner prescribed for the same from time to time by Lenders. The borrower shall at all times ensure that
his/her latest mobile number and email ID is updated with the Lenders. The Lenders shall rely upon the mobile number and email ID
provided by the borrower, and shall not be obliged to verify or make further inquiry into the validity of the mobile number and email ID
provided by the borrower. The borrower shall in no circumstance dispute such reliance by the Lenders.
Digitally Signed by SI CREVA CAPITAL SERVICES
PRIVATE LIMITED
Date:2024-09-29 13:45:58 UTC
Form verified by Employee Name :Tushar Panhale
Employee Code: SCCSPL100461
Application Form No. INST6217259131575926
Annexure C- Details of Grievance Officer:
Level 1:
022 62820570 / 022 48914921
The customer can get in touch with the customer service executive over call between 9:30 am to 6:30 pm, 7 days
Call a week & 365 days a year by dialling the above number.
If the customer is unable to connect due to temporary heavy call volumes. A callback shall be attempted, in most
of the cases, by the customer services team to the customer to resolve his query/grievances.
022 48913631
The customer can get in touch with the customer service executive over Chat (preferably from his/her registered
mobile number) between 9:30 am to 6:30 pm, 7 days a week & 365 days a year by saving the above Official
Chat WhatsApp Chat number on his/her smartphone. In addition to WhatsApp Chat, the customer can also Chat with
the customer service executive by simply using the Chat option given in the Paywithring App.
During non-working hours, the customer can use the automated Chatbot service available on the same number
for getting his/her basic queries resolved and for raising a grievance too.
care@paywithring.com
Email The customer can get in touch with the customer service executive over Email by sending his query/grievance
(preferably from his/her registered email id) to the above mentioned email id of the company.
Level 2: If customer is unable to get a satisfactory response or is unable to reach the above Level 1 channels for Grievance Redressal,
he/she may choose to escalate the issue to the below mentioned officer’s:
Grievance Redressal Officer (GRO)
Mr. Madhan Mohan K Ms. Deepa Nair
Address: IndiQube Golf View Homes, 6th Floor, Tower Address: IndiQube Golf View Homes, 6th Floor, Tower B, 3rd
Lender B, 3rd Cross Road, S R Layout, Murgesh Pallya, Cross Road, S R Layout, Murgesh Pallya, Bengaluru-560017
Bengaluru 560017 Toll free number: 1800 258 7010
Toll free number: 1800 4198 766 Email ID: nodal.officer@northernarc.com
Email ID: gro@northernarc.com
Grievance Redressal Officer (GRO) Nodal Officer (NO)
Mr. Mukul Dwivedi Ms. Benishba Jivin
Address: 10th Floor, Tower 4, Equinox Park, LBS Address: 10th Floor, Tower 4, Equinox Park, LBS Marg, Kurla
LSP 1 Marg, Kurla West, Mumbai, Maharashtra 400070 West, Mumbai, Maharashtra 400070
Ph: 7967112136 Ph: : 08046983691
Email: info@sicrevacapital.com Email: benishba.jivin@sicrevacapital.com
Grievance Redressal Officer (GRO) Nodal Officer (NO)
Mr. Pravin Rathod Mr. Zaffar Khan
Address: 10th Floor, Tower 4, Equinox Park, LBS Address: 10th Floor, Tower 4, Equinox Park, LBS Marg, Kurla
LSP 2 Marg, Kurla West, Mumbai, Maharashtra 400070 West, Mumbai, Maharashtra 400070
Ph: 080-68249277 Ph: 080-68249278
Email: care@paywithring.com Email: escalation@paywithring.com
Important Notes:
a. The Grievance Redressal Officer (GRO) may be reached on the number provided above anytime between 10:00 and 18:00
from Monday to Saturday except public holidays or through the e-mail address above. The GRO shall endeavor to resolve
the grievance within a period of 14 days from the date of receipt of a grievance.
b. If the Borrower does not receive a response from the GRO within 14 (fourteen) days of making a representation, or if the
Borrower is not satisfied with the response received from the GRO, the Borrower may reach the Nodal Officer anytime
between 10:00 to 18:00 from Monday to Saturday except public holidays or write to the Nodal Officer at the e-mail address
Digitally Signed by SI CREVA CAPITAL SERVICES
PRIVATE LIMITED
Date:2024-09-29 13:45:58 UTC
above.
Form verified by Employee Name :Tushar Panhale
Employee Code: SCCSPL100461
Application Form No. INST6217259131575926
c. If the grievance is not redressed by the Nodal Officer of the Company, within a period of 30 (thirty) days, then the borrower
can lodge a complaint over the Complaint Management System (CMS) portal under the Reserve Bank- Integrated
Ombudsman Scheme (RB-IOS).
Digitally Signed by SI CREVA CAPITAL SERVICES
PRIVATE LIMITED
Date:2024-09-29 13:45:58 UTC
Form verified by Employee Name :Tushar Panhale
Employee Code: SCCSPL100461
Application Form No. INST6217259131575926
Annexure D- Details of Recovery Mechanism:
a. SI Creva Capital Services Private Limited (SCCSPL) is an RBI registered NBFC follows all extant rules related to collections
practices as laid down under regulations. SCCSPL follows a customer first approach where the emphasis of collections is to
work with the borrower so as to ensure the best outcome for them, while educating them on their rights and consequences
under different scenarios.
b. The course of action adopted by SCCSPL post default by the borrower in repaying the scheduled repayment(s) is as follows:
i. In the event of any delay or default in payment of any amount due and payable by the borrower in relation to the loan, the
immediate action taken is to initiate messaging through SMS, in-app chat, Verified WhatsApp Business Account, IVR,
notifications, email and tele-calling by our inhouse collection team. The messaging is context-based and focuses on customer
education and warning around credit bureau impacting future loans and legal impact.
ii. The next action taken is to send written communication by letters and/ or by electronic communication LDN (Loan Demand
Notice) and LRN (Loan Recovery Notice) through multiple channels including email, SMS, Verified WhatsApp Business Account
and registered post in vernacular languages.
iii. Finally, SCCSPL delegates the recovery to its network of field agents who will first visit the borrower at the place of their choice,
and in the absence of any specified choice of place, at the place of their residence and if unavailable at residence, at the place
of business/occupation/ identified place of work. Such personal visits shall ideally be from 8.00 am to 7.00 pm. It is ensured that
the external collection partners are compliant with RBI guidelines and recommendations and follow best industry practice. In
case of personal visits, identity and authority of persons making such visits for follow up and recovery would be made known to
the obligors at the first instance. All collection agents will be required to follow a code of conduct covering their dealings with
the borrowers. All the practices adopted for follow up and recovery of dues and enforcement of security will be in consonance
with applicable laws. In addition to the foregoing, recovery proceedings may be initiated in accordance with applicable laws.
Digitally Signed by SI CREVA CAPITAL SERVICES
PRIVATE LIMITED
Date:2024-09-29 13:45:58 UTC
Form verified by Employee Name :Tushar Panhale
Employee Code: SCCSPL100461
