Loan appraisal and terms/conditions

In accordance with SICOM’s credit policy norms and risk based assessment procedures, each loan application will be appraised after carrying out proper due diligence..
The standard terms and conditions will be discussed with the borrower. These mutually discussed terms and conditions will be put up to the sanctioning authority. Any modifications / additions / deletions indicated by the sanctioning authority will be communicated to the borrower. The Sanction letter will be released to the borrower upon payment of processing fees as applicable.
The acceptance of these terms and conditions by the borrower will be kept on record
The Company shall mention the penal interest charged for late repayment in bold in the loan agreement