Educational Loans

The National Management School has tied up for educational loans with
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3)	NMS Offer - A Unique proposition
Please CLICK on the desired option above.

HDFC Education Loan Details

Loan Amount	Maximum of Rs.15 lakhs. All loans for Full time courses require a co-applicant. Loan eligibility would be calculated on the basis of the co-applicant's income. For Loans Upto INR 7.5 Lakhs – NO – Nil Collateral nor Third-Party Guarantee For Loans Above INR 7.5 Lakhs- Yes, Any of the following wide range of collaterals Acceptable Collaterals Residential Property HDFC Bank Fixed Deposit LIC/NSC/KVP
Margin	5-15% of the total loan amount applied
Repayment period	Maximum tenure of the loan can be 7 years including moratorium period. Repayment to start 1 year after course completion / 6 months after obtaining employment (whichever is earlier)
Processing charges	Up to a maximum 2% of the loan amount
Prepayment charges	No pre-payment permitted (up to 6 months of repayment ). Up to 4% of the Principal Outstanding (after 6 months of repayment)
Co Borrower	Full time courses - Mandatory – Father/ Mother/ Brother/ Sister/ Spouse and the income documents of the co-applicant will be of primary consideration and must meet the required HDFC bank policy.
Documentation	1.Institute Admission Letter with Fee break-up and payment schedule 2.Letter from the Institute detailing the fee structure and payment schedule 3.SSC, HSC, Graduation Mark sheets 4.Completed Application form 5.Latest Photograph (Signed across) 6.Age Proof, Signature Proof, Identity Proof of the Applicant. 7.Address Proof (for Permanent Address): Telephone Bill / Electricity Bill/ Gas Bill / Ration Card / Passport / Voter's ID card / Driving License. Verification will be conducted at this address. 8.Income proof of Co-applicant. 9.Loan Agreement 10.Standing Instructions from the customer to debit the HDFC Bank a/c for the EMI payable. For more details visit : www.hdfcbank.com

Terms and Conditions

HDFC Bank shall grant the Education loan facilities to the students of National Management School, who are desirous of availing the said facility explicitly for funding Higher Education courses offered thru your centres. The repayment of which shall be in EMI and will commence and conclude as per the agreement with the respective borrower. The Education Loan facility will be offered to the students as per the above terms and conditions
The Education loan facility will be subject to sole discretion of HDFC Bank who shall either consider to provide or reject the same and on such terms and conditions as may be prescribed by HDFC Bank in terms of its Bank Credit policy from time to time.
If any admission taken under this finance option by the student, is cancelled, for any reason then National Management School will immediately inform us of the same for HDFC Bank to take corrective action.
HDFC BANK will verify independently all finance related parameters of the student according to its set eligibility criteria's and as per its usual practice and policy like, handling inquiries on credit documentation, collection of loan application and requisite enclosures, document verification, execution of loan agreement, collection of post dated cheques etc. from the students .
It will be the sole responsibility of HDFC BANK to ensure completion of total credit formalities including the credit appraisal within such a time frame so as to advise the final credit decision to National Management School in writing under 11 working days max after the receipt of all relevant and complete documents required for processing of the loan.

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CREDILA Loan Details

Specialised banker focussed on education loans to students
A NBFC licensed by RBI in the private sector with 40% equity stake from DSP Merill Lynch
Efficient customer friendly process
Maximum Processing time 7 days
Web based student loan account management system
Contact Kasi at +91 - 44 - 4745 0000 Extn: 120

Loan Amount	Up to 100% of fees plus other incidental expenses to the course
Margin	Up to 100% financing is possible
Security	Flexible options ranging from immoveable properties such as Apartment/flat, bungalow, plot of NA land, shop, Life Insurance Policy for the student assigned in favor of Credila for the value of at least the approved loan amount.
Interest	Rate of interest will be floating rate of interest linked to Credila's Benchmark Lending Rate (CBLR). The interest will be calculated using Simple Interest Rate. Floating rate of interest to be (Credila's CBLR + Spread)% per annum.
Repayment period	Interest needs to be serviced till your study duration month on month. The principal and interest is repayable in 90 monthly installments.
Processing charges	Starting from 1% based on Credila credit score
Prepayment charges	Full pre-closure is possible however 2% will be charged on POS
Co Borrower	Mandatory for all cases - Could be related as Father / Mother / Brother / Sister / Spouse / Maternal & Paternal first cousins, Uncles and Aunts and should be having a regular stream of income meeting Credila's underwriting norms. Options of multiple co-borrowers across multi-locations possible.
Documentation	1.Letter from the Institute confirming the borrowers admission to the course 2. Letter from the Institute detailing the fee structure and payment schedule 3. All mark sheets from SSC / 10th Std of the borrower 4. Applicant and co-applicant loan Application forms (with 2 Photographs) to be submitted 5. Income and eight months banking proof of Co-applicant 6. Address Proof (for Permanent Address): Telephone Bill / Electricity Bill/ Gas Bill / Ration Card / Passport / Voter's ID card / Driving License. Verification will be conducted at this address. 7. Identity and Signature Verification Proof 8. If Collateral – Copy of Property documents / Life Insurance Policy . 9. Loan Agreement 10. ECS mandate towards the EMI payable For more details visit :http://www.credila.com

Terms and Conditions

Credila shall grant the Education loan facilities to the students of National Management School, who are desirous of availing the said facility explicitly for funding Higher Education courses offered thru your centres. The Education Loan facility will be offered to the students as per Credila's terms and conditions
The Education loan facility will be subject to sole discretion of Credila who shall either consider to provide or reject the same and on such terms and conditions as may be prescribed by Credila in terms of its underwriting guidelines from time to time.
If any admission taken under this finance option by the student, is cancelled, for any reason then National Management School will immediately inform us of the same for Credila to take corrective action.
Credila will verify independently all finance related parameters of the student according to its set eligibility criteria's and as per its usual practice and policy like, handling inquiries on credit documentation, collection of loan application and requisite enclosures, document verification, execution of loan agreement, collection of post dated cheques etc. from the students .
It will be the sole responsibility of Credila to ensure completion of total credit formalities including the credit appraisal within such a time frame so as to advise the final credit decision to National Management School in writing in 7 working days max after the receipt of all relevant and complete documents required for processing of the loan.

Credila Financial Services Private Limited, Chennai

Ph : 91+ 44 42145778/ 9962597875.

For more details visit: www.credila.com

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Educational Loans

Eligibility Criteria

Eligibility Criteria