Rate of Interest

The rate of interest applicable for floating rate lending products is determined with reference to the Vaibhav Nidhi India Limited Term Loan Reference Rate (i.e. TLRR) and customer margin communicated in the sanction Letter at the time of origination and thereafter. The TLRR may change from time to time and any revision in this rate will have an impact on the interest rate. Any change in rate of interest can impact Equated Installments or Tenure or both. Customer would be required to service the loan monthly at the rate set out in the Loan agreement.

Fees and Charges

Please refer to the Schedule of charges for the latest fees. Customer can also make enquiries at any branch of Vaibhav Nidhi India Limited or with Vaibhav Nidhi India Limited Customer service. Any fees and charges mentioned in the Sanction Letter are the rates applicable on the date of issue of the Sanction Letter and are subject to change from time to time. Any Service Tax as applicable on the fees and charges shall be payable by the Borrower.

Liability of Borrower

Where  the  Loan is provided to more than one Borrower, then the  liability of the  Borrower to repay  the  Loan together with interest and  all other amounts and  to observe the  terms and  conditions of the
Agreement/ and any other agreement(s), document(s) made between the Borrower and Vaibhav Nidhi India Limited in respect of the Loan will be joint and several.


The loan will be secured by Equitable/Registered mortgage/extension of mortgage of land and building/flat for which the loan is to be sanctioned.
Vaibhav Nidhi India Limited shall have the right to decide, in its sole discretion, the type, manner and the timing of creation of mortgage or any other security; and/or any additional security to be created by the Borrower for securing the Loan and all other amounts due to Vaibhav Nidhi India Limited. The Borrower is bound to create such security and shall duly execute documents evidencing the same as may be required by Vaibhav Nidhi India Limited Loan which is being offered is based on the understanding, that the property is located in India and within Vaibhav Nidhi India Limited approved city limits. Even if the property is within the specified limits, Vaibhav Nidhi India Limited may refuse to disburse the loan if the property does not meet Vaibhav Nidhi India Limited credit policies, guidelines and criteria as deemed fit by it in its sole discretion. Borrower shall procure prior written consent of Vaibhav Nidhi India Limited before renting out the mortgaged property/ies or any part thereof or before making any structural alterations in the mortgaged property/ies.

Conditions for Disbursement of Loan

Vaibhav Nidhi India Limited shall be entitled to revoke the sanction of the facility/ies, inter alia, in any of the following circumstances:

  1. Assessment / verification checks not satisfactory to Vaibhav Nidhi India Limited
  2. Legal verification/ technical valuation of the underlying asset is not satisfactory to ABFL
  3. There is any material change in the purpose(s) for which the facility is being sanctioned
  4. In the sole judgement of Vaibhav Nidhi India Limited, any material fact has been concealed and/or Vaibhav Nidhi India Limited becomes subsequently aware of during the tenor of the loan.
  5. Accepted copy of the Sanction Letter not received within the specified period
  6. Any statement/ information made by or on your behalf is misleading, unsatisfactory or is incorrect
  7. There is a default or breach or violation of any condition of this or any other facility offered/availed by you from Vaibhav Nidhi India Limited
  8. Loan Agreement/ any other documents related to disbursement being incomplete, incorrect or unsatisfactory, in a form and manner as may be required by Vaibhav Nidhi India Limited in connection with the Facility/ies. Provided further that notwithstanding anything to the contrary contained in the Sanction Letter and Loan agreement, Vaibhav Nidhi India Limited may at its sole and absolute discretion at any time, terminate, cancel or withdraw the Facility or any part thereof (even if no / partial disbursement is made) without any liability and without any obligations to give any reason whatsoever, whereupon all principal monies, interest thereon and all other costs, charges, expenses and other monies outstanding (if any) shall become due and payable to Vaibhav Nidhi India Limited by the Borrower forthwith upon demand from Vaibhav Nidhi India Limited.


EI” or “Equated Instalments” shall mean the amount payable by the Borrower(s) at such period of rests as provided for in the Sanction Letter, to Vaibhav Nidhi India Limited comprising of Interest, or as the case may be, principal and Interest calculated on the basis of such period of rests at the Interest Rate applicable as stated in the Sanction Letter or loan agreement and is rounded off to the next rupee.


If you do not pay or are late in paying any EI, Vaibhav Nidhi India Limited will report the non payment to various credit bureaus. This may have an adverse effect on your credit rating and affect your ability to obtain credit from other Lenders. To avoid any adverse credit history with credit bureaus, member/customers should ensure that timely payment of the amount due on the loan amount is duly made.
If an “Event of default” (as defined under the Loan Agreement) happens, you will be asked to pay penal interest or such other rate of interest as decided by Vaibhav Nidhi India Limited. For Default interest rate / charges for non conformance, Please refer to Schedule of Charges for more details.

Prepayment and Foreclosure

No Prepayment or Pre-closure allowed in first 12 months from the date of disbursement of loan.
In the event of sale of security, Loan needs to be pre-closed with all dues and charges. Alternatively property can be swapped as acceptable to Vaibhav Nidhi India Limited with applicable charges.
The customer can prepay/foreclose the loan by giving a notice in writing and pay in accordance with the prepayment / foreclose rules of Vaibhav Nidhi India Limited, along with prepayment/foreclosure charges if any (Please refer to Schedule of Charges for more details). The original documents of the customer submitted to Vaibhav Nidhi India Limited, would be returned within 30 days of satisfactorily closing the loan, as per the conditions of the loan agreement signed by the customer.

Customer Services

For any service related issue, Customer can get in touch with Vaibhav Nidhi India Limited by:

  • Calling Vaibhav Nidhi India Limited Customer Service Desk on the numbers provided on our website
  • Placing a request online by logging on to www.vaibhavnidhi.com
  • Contacting the Relationship Manager (RM) at any of our branches

Insurance Declaration

I/We hereby declare that I/We would like to opt for insurance plan offered by insurance company in association with Vaibhav Nidhi India Limited. I/We have carefully read and understood the contents of the brochure. I/We have understood that the Loan/Facility amount sanctioned by Vaibhav Nidhi India Limited is unconditional to my/our opting for the Insurance & undertake to pay the requisite premium at the time of disbursement of the loan. I confirm that I am voluntarily participating in this program and am aware that the loan is available without the insurance as well.


  1. I/We declare that all the particulars and information and  details given/ filled in this  Application Form are  true, correct, and  up to date in all respects and  that I/We have  not  withheld any information whatsoever.
  2. I /We confirm that no insolvency proceedings or suits for recovery of outstanding dues or monies whatsoever and/ or any criminal proceedings have been initiated and /or are pending against me/ us and that I/We have never been adjudicated insolvent by any court or other authority.
  3. No action nor other steps have been taken or legal proceedings started by or against me/us in any court or law/other authorities for winding up, dissolutions, administration or reorganization or for the appointment of the receiver, administrator, administrative receiver, trustee or similar officer for my /our assets.
  4. I/We declare that I/We have not made any payments in cash, bearer cheque or kind along with or in connection with this application to the executive collecting my/our application. I/we shall not hold  Vaibhav Nidhi India Limited  liable  for  any  such  payments made by us  to  the  executive collecting this  application.
  5. I/we specifically authorized Vaibhav Nidhi India Limited and all its group/business associate companies to exchange, share or part with all or any information for any purpose.
  6. I/We understand and acknowledge that Vaibhav Nidhi India Limited shall have the absolute discretion, without assigning any reasons (unless required by applicable law) to reject our application and Vaibhav Nidhi India Limited shall not be responsible in any manner whatsoever to me/us for such rejection or any delay in notifying me /us of such rejection and any costs, losses, damages or expenses, or other consequences, caused by reasons of such rejection, or any delay in notifying me/us of such  rejection, of our application.
  7. I/We understand and  am/are aware that the  processing fees collected from me/us by Vaibhav Nidhi India Limited, is for the  purpose of Vaibhav Nidhi India Limited reviewing this  loan application as per its own parameters and  is not refundable to me/us under any circumstances whatsoever, irrespective of whether Vaibhav Nidhi India Limited sanctions this  loan application of mine  or not.
  8. I/We confirm that I /we shall not use  the products or the credit /loan facility(s) (or any part thereof) for any improper /illegal or unlawful purpose/ activities.
  9. I/We shall inform to Vaibhav Nidhi India Limited regarding any changes in my /our address(s) or my employment or profession.
  10. I/We hereby confirm that I/we am/are competent and  fully authorized to give declarations, undertaking etc. execute and  submit this  application form and  all other documents for the purpose of availing the  loan, creation of security and for all the  purposes mentioned /required to be done for this.
  11. I/We confirm that I/We shall cooperate with Vaibhav Nidhi India Limited and furnish additional documents and/or shall execute such other documents, if necessary to enable Vaibhav Nidhi India Limited to abide by/comply with all other existing /further directives of the statutory /regulatory authorities/any other authority acting under any Law.
  12. The Applicant(s) hereby authorizes Vaibhav Nidhi India Limited to disclose any information /documents relating to the Applicant(s), of the facility/ies proposed to be availed by the Applicant(s) or any obligations to be assured by the Applicant(s) in relation thereto, to Reserve Bank of India, Income Tax Authorities, Credit Bureau, Third Parties, Credit Rating Agencies, Databanks, Corporate(s), Banks, Financial institutions or any other Government or any Authority (Regulatory/Statutory/Judicial/Quasi-judicial) and also to obtain information from these agencies/authorities/etc with respect to the  Applicant(s), so as to enable Vaibhav Nidhi India Limited to appraise the Applicants Application for grant of such facility/ies.

I Agree: Yes (Insert Box) No (Insert Box) I, would like to know through telephonic calls, or SMS on my mobile number mentioned in the Application Form as well as in this undertaking, or through any other communication mode, various (Insert Box) loan offer  schemes or loan  promotional schemes or any other promotional schemes and/or any other products and  hereby authorize Vaibhav Nidhi India Limited, its employee, associate and/or its group companies to do so. I confirm that laws in relation to the unsolicited communication referred in “National Do Not Call Registry” (the “NDNC Registry”) as laid down by TELECOM REGULATORY AUTHORITY OF INDIA will not be applicable for such communication/calls/ SMSs received from Vaibhav Nidhi India Limited, its employees, and/or associates.


That the receipt of your application form  for the  loan does not  imply automatic approval of your loan by Vaibhav Nidhi India Limited. Vaibhav Nidhi India Limited may request for additional documents other than those in connections with  the application. I/We confirm that executive who collected my /our applications/ documents has informed me/us and I/we am/are fully aware:
1. That taxes as may be applicable from time to time will be charged in connection with the Loan.
2. That Vaibhav Nidhi India Limited will not be liable for loss or delay in receipt of the documents.
3. That incomplete/defective applications will not be processed and Vaibhav Nidhi India Limited shall not be responsible for any manner for the resulting delay or otherwise.
4. That the applications forms, documents/ photographs will not be returned under any circumstances once submitted to Vaibhav Nidhi India Limited.
5. That approval for the applications is the sole discretion of Vaibhav Nidhi India Limited.
6. That the quantum of the loan will be finally decided by Vaibhav Nidhi India Limited and Vaibhav Nidhi India Limited has not made any commitment to me/us regarding the same.
7. That equated installments (EMI) will be due on 1st / 5th / 15th of every month (strike out which is not applicable)

The Most Important Terms and Conditions mentioned above are an indicative list of terms and conditions of our loan products. These Terms and Conditions are further described in our loan agreement under relevant sections/schedules and therefore should be read in conjunction with those mentioned in the loan agreement.

Preliminary Terms & Conditions subject to change.