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  • Settlement Letter

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    Amrish Venkatesan
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    1. The document is a settlement offer letter from HDFC Bank to AMRISH V regarding loan number 30258442. 2. The bank is offering to settle the loan for Rs. 1,02,000 to be paid in one installment by November 18th, 2019. 3. The letter outlines various terms and conditions of the settlement including that the loan will continue accruing interest until full payment is made, and that certain benefits may be withdrawn if the customer previously held a premier banking relationship with the bank.

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    1. The document is a settlement offer letter from HDFC Bank to AMRISH V regarding loan number 30258442. 2. The bank is offering to settle the loan for Rs. 1,02,000 to be paid in one installment by November 18th, 2019. 3. The letter outlines various terms and conditions of the settlement including that the loan will continue accruing interest until full payment is made, and that certain benefits may be withdrawn if the customer previously held a premier banking relationship with the bank.

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    © All Rights Reserved
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    2K views1 page

    Settlement Letter

    Uploaded by

    Amrish Venkatesan
    1. The document is a settlement offer letter from HDFC Bank to AMRISH V regarding loan number 30258442. 2. The bank is offering to settle the loan for Rs. 1,02,000 to be paid in one installment by November 18th, 2019. 3. The letter outlines various terms and conditions of the settlement including that the loan will continue accruing interest until full payment is made, and that certain benefits may be withdrawn if the customer previously held a premier banking relationship with the bank.

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    © All Rights Reserved
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    of 1

    Serial No.

    30258442-9011005 Customer Copy

    30258442-9011005
    Date :14/11/2019
    To,
    Name : AMRISH V
    Address : AMRISH V LAKSHMI PG ROOM NO 306 4/5 NEAR RAJ MOTORS OPP DSR APARTMENTSBELLANDUR
    BANGALORE,560103 ,KARNATAKA,560103

    Subject : SETTLEMENT OFFER OF HDFC BANK LOAN - 30258442

    Dear AMRISH V,

    As discussed with us and requested by your good self, we are agreeable to your proposal of an amicable settlement on the above mentioned loan with us.

    Settlement amount : `.1,02,000.00 ( One lakh two thousand rupees only)

    No of installments for Repayment of Settlement amount : 1 ( One)

    The repayment schedule for the above mentioned settlement program is as follows :

    Agreed Date of Payment Amount


    18/11/2019 1,02,000.00

    Terms and conditions:


    1. Please be aware that the above installments for repayment of the settlement amount will have to be realized by the Bank on or before the agreed date of repayment in this letter.
    2. The above mentioned loan account will continue to accrue Interest and Penal Charges as per the Bank’s existing policy till the last payment is repaid in total. Posts the realization of all the payments,
    reversals and waivers will be processed on your account as per agreement vide this settlement.
    3. The Settlement terms detailed above are in addition to, and not in derogation of, the Loan Agreement and the Terms and Conditions governing the Loan.
    4. All payments made with regards to the above settlement program are valid subject to the payment being made against a serially numbered receipt issued by the Bank.
    5. This settlement offer letter is issued without prejudice to the bank’s right to continue all legal proceedings pending against you in connection with the subject account till the entire dues, either as per this
    settlement or agreement, are paid in full.
    6. Please note that this is an exceptional settlement offer for the above mentioned loan number basis your request and should not be quoted as precedent for any other loans.
    7. This settlement amount shall be accepted as full and final settlement of the subject loan account and on receipt of the said settlement amount, NOC for the said account shall be issued, subject to
    Borrower/ Hypothecator does not owe any direct/ indirect liability to the Bank

    Please note this settlement letter would be considered Null & Void in the below events:-
    a. This Settlement offer letter is valid till the last working day of the current month, post which it is NULL & VOID.

    b. In the event of the above repayment schedule is not being adhered to and if any of the cheques is not being honored, this settlement offer would be null and void and you would be required to pay the
    entire outstanding at that point of time and any amounts paid in pursuance of this settlement offer till the date of default of these terms shall be adjusted towards the entire dues payable by you as per the
    agreement. The Bank also reserves the right to initiate legal action on the dishonoured cheques.

    c. Please note that by endorsing upon this settlement offer letter, you unconditionally agree to withdraw all cases filed by you against the Bank before any Court with regards to the above mentioned loan
    agreement, failing which this Settlement Offer Letter would be treated as NULL & VOID

    8. Any refund would be processed only post adjustment towards dues outstanding in other loan / card products. Moreover, in case of money received through insurance mode, excess amount if any would
    be refunded only post adjustment towards dues outstanding in other loan products.

    9. Please be intimated that, incase you hold Premier Banking Relationship with us, this settlement will entail withdrawal of such Benefits accorded to your account, post 30 days of initiation of settlement
    without any further reference or intimation to you. However the services available to your Saving Bank Account / Current account / Term Deposit would continue.

    Kindly sign the Bank copy of this settlement offer letter as your acceptance of the Terms and Conditions of the settlement program.

    Please note under the Credit Information Companies (Regulations) Act,2005, Information of loan repayment would be shared with Credit Information Bureauof India Ltd. (CIBIL) or any other Credit rating
    agency / Regulatory body. Bank categorically appraises the borrower that if the loan dues are paid off under compromised settlement plan, the status of the borrower shall be displayed as 'Settled' in the
    records of Credit Rating Agency/ ies which may act as hindrance in case of any credit assistance is sought by the borrower at any future date; alternatively if the loan liability is paid in full, then the status
    in the records of Credit Rating Agency/ies will indicate the same. Hence, borrower is advised to choose appropriate option accordingly.

    In case of any discrepancies/complaints please write us at mailto:[email protected] or you may contact us at 022-33016851.

    Thanking You

    Authorised signatory

    Regd. Office - HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai 400 013

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