'Approval in Principle' letter refers to the letter sent to the email ID provided by an applicant, conveying an in-principle approval for the loan applied for. The quote shown to an applicant depends upon inputs provided by the online applicant. 'Quote' / 'Eligibility' refers to an applicant's eligibility under the particular loan scheme. 'One Time Password (OTP)' refers to one time 6 digit pass code sent to the mobile number provided by an applicant during a session, for verification of his/her mobile number. 'Third party product' refers to any product and/or service of third party which is offered by or through the intermediary of the Bank. 'Personal Information' refers to any information about the applicant obtained by the Bank in connection with the SBI Apply Online services. 'Information' refers to any information obtained by an applicant from the Bank for availing various services through SBI Apply Online. 'Application' refers to an Applicant's Home Loan and/or Auto Loan and/or Education Loan and/or Personal Loan application to the Bank through SBI Apply Online. 'Applicant' refers to an applicant named in the Application Form and shall, where the context requires, include Co-applicant(s) with the Applicant. 'User' refers to an online applicant and/or authorized sales partners of the Bank. 'The Bank' refers to State Bank of India, a body corporate established by means of an Act of Parliament and having its Corporate Office at "State Bank Bhavan", Madame Cama Road, Nariman Point, Mumbai - 400 021 (which expression shall, unless it is repugnant to the subject or context thereof, include its successors and assigns).Īpply Online Services are the Bank's services which provide the facility of applying for retail loan product through the Apply Online website of the Bank In these Terms of Service (Terms & Conditions), unless the context indicates otherwise, the following words and phrases shall have the meanings indicated against them: With the date of credit of salary in the borrower's Recovery of the loan installments The SI should be synchronised The borrower gives an irrevocable PDCs/ECS/ SI for.The employer pays the borrower's salary into the.There is a severance due to borrower's transfer, resignation, The employer undertakes to inform the Bank if and when.The Bank before settling the dues of the borrower on transfer, (a) Undertaking from the employer to obtain a NOC from.Synchronised with the date of credit of salary in the Installments from his aforesaid account with the SI being Irrevocable Standing Instruction (SI) for recovery of the loan The borrower's salary into his Savings/Current Account with Undertakes to deduct loan installments from the salary of theīorrower and remits the same to the Bank for credit to the loan
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