Financial Assistance

Education Loans

The National Management School has tied up for educational loans with
1)
2)
3)	NMS Offer - A Unique proposition
Please CLICK on the desired option above.

HDFC Education Loan Details

Loan Amount	Maximum of Rs.6 lakhs (Based on the co-applicant profile can be extended upto 9 Lakhs)
Margin	10% Total approved amount
Security	Not applicable if income norms are being met by the Co-applicant
Interest	A special rate of 14 % p.a .
Repayment period	The borrower will have the choice of repayment in 12, 24, 36 equated Monthly.
EMI per lakh per month	12 Months Rs.8,979	24 Months Rs.4,802	36 Months Rs.3,418
Processing charges	1 %
Prepayment charges	Pre-Closure is possible however 4% will be charged on the POS.
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. 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 / 10^th Std of the borrower 4. Applicant and co-applicant loan Application forms (with Photographs) to be submitted 5. Income 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. Loan Agreement. 8. Standing Instructions from the customer to debit the HDFC Bank a/c for the EMI payable.

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.

Education Loans, Chennai-600017.

Ph : 044 2816 0137.

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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 98417 59650, +91 - 44 - 4745 0020

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 flat, bungalow, plot of NA land, shop, commercial premises, etc. and moveable properties such as Fixed deposits with any branch of Punjab National Bank depending on the co-borrower profile.

Interest

A special rate of 13.90% p.a

Repayment period

Interest needs to be serviced till your study duration month on month
The borrower will have the choice of repayment in 12, 24, 36 and 48 equated monthly installments after the completion of the study duration.

Interest - Per Lakh per month

Rs. 1,158

EMI Per Lakh per month

12 Months	24 Months	36 Months	48 Months
Rs. 8,974	Rs. 4,797	Rs. 3,413	Rs. 2,728

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 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 Siganture Verification Proof
8. Loan Agreement.
9. ECS mandate towards the EMI payable

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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Financial Assistance

Education Loans

Eligibility Criteria

Eligibility Criteria