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Disbursement of Loans, including changes in terms & conditions


by Mahindra Finance


June 24, 2023


1 mins read

  • Any change in terms of Conditions like change in interest rate, tenure, all charges/fees would be communicated to the borrower in writing in the vernacular language or a language as understood by the borrower. Any changes in interest rates and charges will be effective only prospectively.
  • Any decision to recall, accelerate payment would be communicated to the borrower in writing as per the terms of the agreement.
  • No Due Certificate shall be issued on recovery of all dues. Collateral, if any, will be released along with the No Due Certificate. Any collateral taken to guarantee the performance of contract will be duly acknowledged and kept in safe custody.

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