A loan sanction letter confirms the lender has approved the application and specifies key terms: sanctioned amount, interest rate, tenure, EMI, processing fee, and conditions for disbursement. It is not the same as disbursement — it confirms conditional approval.
Sanction letters have a validity period (usually 3-6 months). Comparing letters from multiple lenders helps identify the best offer. Terms like interest rate and processing fee are often negotiable.
The sanction letter defines your loan terms. Carefully reviewing and comparing letters from different lenders ensures the best deal before committing.
Nihal Fintech helps clients obtain and compare sanction letters from multiple partners, explaining all terms in plain language for fully informed decisions.
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