Eligibility Criteria

• Applicant must be an active or retired defense personnel.
• Minimum age: 21 years; Maximum age at loan maturity: 60 years.
• Minimum service tenure of 2 years required for active personnel.

Loan Amount & Tenure

• Loan amount: ₹50,000 to ₹20,00,000 (subject to credit evaluation).
• Loan tenure: 12 to 60 months.

Interest Rate & Charges

• Interest rate: Fixed, starting from 10% per annum (subject to credit score).
• Processing fee: Up to 2% of the loan amount plus applicable taxes.
• Late payment charges: 2% per month on the overdue amount.

Repayment

• Equated Monthly Installments (EMI) via NACH mandate or post-dated cheques.
• Early foreclosure or partial prepayment allowed after 12 months with applicable charges (up to 4% of the outstanding amount).

Documentation Required

• Valid ID proof (Aadhaar, PAN, or Defense ID).
• Address proof (utility bill, ration card, or voter ID).
• Latest salary slips or pension statement for 3 months.
• Bank statements for the last 6 months.

Loan Disbursement

• Loan amount will be disbursed directly to the applicant’s bank account upon verification of documents and approval.

Loan Usage

• Loan should be used for personal purposes only (e.g., education, medical expenses, home renovation).
• Use for speculative purposes, illegal activities, or prohibited items is strictly forbidden.

Credit Evaluation & Approval

• Loan approval is at the sole discretion of Commando Finance Services based on credit evaluation and policy norms.
• Commando Finance Services reserves the right to reject the application without providing reasons.

Default & Recovery

• In case of default, Commando Finance Services reserves the right to recover the outstanding amount through legal measures.
• Default will affect the applicant’s credit score and eligibility for future loans.

Legal Jurisdiction

• Any disputes arising out of this agreement shall be subject to the jurisdiction of the courts in [City].

Amendments

• Commando Finance Services reserves the right to amend the terms and conditions without prior notice, subject to regulatory compliance.

Consent & Authorization

• By applying for the loan, the applicant consents to the terms and conditions and authorizes Commando Finance Services to verify personal and financial information.

For further details or clarification, applicants are encouraged to contact Commando Finance Services’ customer support team.