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    Education Loan Sanction Letter New A2407020055

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    naidugaria1
    Education loan sanctioned for higher education from hdfc credilla

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    Education Loan Sanction Letter New A2407020055

    Uploaded by

    naidugaria1
    38 views2 pages
    Education loan sanctioned for higher education from hdfc credilla

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    Education loan sanctioned for higher education from hdfc credilla

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    38 views2 pages

    Education Loan Sanction Letter New A2407020055

    Uploaded by

    naidugaria1
    Education loan sanctioned for higher education from hdfc credilla

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    26 July 2024

    To,
    Emani Prem Kumar,
    10-116-i St Colony Kollipara, Guntur, 522304, Andhra_pradesh
    Email ID: [email protected],
    Mobile No.: +91-7893099193,

    Subject: Sanction Letter (Education Loan Application Number A2407020055)

    Dear Sir/Madam,
    Thank you for trusting HDFC Credila Financial Services Limited, (‘HDFC Credila’), a Reserve Bank Of India (RBI) regulated company, with your education
    loan needs.
    We are pleased to inform you that your education loan* has been sanctioned, subject to the terms and conditions mentioned hereinafter and printed overleaf:

    Borrower Emani Prem Kumar


    Co-borrower(s) Eemani Siva Sankara Rao
    Country of Study ITALY
    Course MSE:MASTER OF SCIENCE IN ENGINEERING in CIVIL AND ENVIRONMENTAL ENGINEERING
    University UNIVERSITY OF CASSINO AND SOUTHERN LAZIO
    Sanctioned Loan Amount INR 14,00,000.00 (Fourteen Lakh Rupees equivalent to EUR 15,384.62 approx. at exchange rate** of EUR 1 = INR 91.0)

    Rate of Interest 12.25% p.a. Floating rate***


    Origination Fees (Non- INR 16,520.00/- (inclusive of all taxes)
    refundable)
    Repayment Tenure 168 monthly installments
    1 - 36 months: PMII (Pre-Equated Monthly Installments) of INR 5,000.00 per month
    37 - 168 months: MI (Equated Monthly Installment) of INR 24,912.00 per month
    Loan Type UNSECURED
    Date of Sanction 18 July 2024
    Validity of this Offer This Sanction letter is valid till 17 July 2025
    *Including tuition fee and purchase of books & stationery, living expenses, air passage, examination fees, travel, insurance, etc.
    ** Source/other reference for exchange rate.
    *** Interest rate is annualized and is linked to the HDFC Credila's Benchmark Lending Rate (HCBLR), which is subject to revision/variation at any stage in terms of the
    education loan agreement to be executed by you.

    We wish you the very best in your education endeavors.


    Regards
    For HDFC Credila Financial Services Limited

    Authorized signatory
    This is system generated letter, does not require Signature/Company stamp.
    Please note that this sanction letter is a summary of the indicative terms and conditions. The facility agreement and other transaction documents may/will contain
    terms in addition to or in modification of those set out in this letter and that final sanction and disbursement is subject to fulfillment of the terms and conditions
    mentioned overleaf.
    Education Loan Application No : A2407020055

    General Terms and Conditions

    1. Education loan disbursement is subject to satisfactory completion of loan documentation.


    2. This sanction letter is issued based on the representation made by the Borrower/Co-borrower(s) at the time of loan application and shall not be
    considered as a binding obligation on part of HDFC Credila. HDFC Credila at its sole discretion without giving any reason thereof reserves the right to
    unilaterally revoke, modify, amend, or cancel, any parts or all parts of this sanction letter even after acceptance by you, if:

    • There are any material changes in the proposal for which the said loan is sanctioned. Final disbursement will be made based on favourable
    validation and authentication of all provided documents.
    • Any material fact concerning your income, ability to pay, or any other relevant aspect of your education loan application is withheld,
    suppressed, concealed or not made known to HDFC Credila
    • Any statement made in the application is found to be incorrect or untrue.
    • The Education Loan Agreement and other documents, as required by us, are not executed during the validity of this sanction letter, or
    during any further extension of the period mutually agreed upon.
    • Any information or documentation as may be required by HDFC Credila from time to time is not furnished in the form prescribed/approved
    by HDFC Credila.
    • As an outcome of legal due diligence, HDFC Credila is of the view that it is unviable to proceed further with the offer made hereinabove.

    Note: In the above-mentioned scenarios, HDFC Credila shall not be responsible/liable for any costs, losses, damages or expenses or any consequences in
    any manner whatsoever for such revocation/rejection/cancellation.
    3. Disbursement of each tranche will be based on favourable verification and financial checks of the Borrower/Co-borrower(s).
    4. Insurance (if applicable) to be availed of by the Borrower and duly assigned in favour of HDFC Credila.
    5. The Borrower/Co-borrower(s) hereby confirm(s) and agree(s) that the Origination Fees once paid are non-refundable.

    6. The Borrower/Co-borrower(s) hereby confirm(s) and agree(s) that the rate of interest applicable to customers is based on HDFC Credila's Benchmark
    Lending Rate (HCBLR) which in turn is dependent on factors such as cost of funds, margin, etc. plus a spread which is determined on the risk profile of
    the case. This may vary on account of several factors such as the student's academic background, employability of the selected course from a selected
    college and country of study, financial strength of the co borrower(s), loan repayment capability, credit history, whether or not the loan is secured by
    collateral, serviceability of the loan through HDFC Credila's branch network, cost/s associated with underwriting and servicing the loan, etc. HCBLR is
    subject to change as a consequence of prevailing money market conditions and thus has a direct impact on the repayment which can impact your PMII,
    EMI and/or tenor or both, which is more specifically described in the education loan agreement, you will have an option to modify your PMII, EMI
    and/or tenor or both, when HCBLR is revised. In such situations, HDFC Credila shall have the right to review the repayment schedule in such a manner
    and to such extent as it may deem appropriate. You shall, however, continue to pay the monthly instalment/pre-monthly instalment interest (MI/PMII) as
    indicated in the education loan agreement.
    7. The Borrower/Co-borrower(s) hereby confirm having received and understood comprehensive and detailed information including the terms and
    conditions regarding HDFC Credila’s education loan process and hereby agree to the interest rate, fees, charges, costs etc., mentioned in this sanction
    letter which is payable to us in relation thereto and that they shall abide by the same.
    8. The Borrower/Co-borrower(s) hereby confirm having received and understood comprehensive and detailed information including terms and conditions
    regarding HDFC Credila’s education loan process in the language known to them. The Borrower/Co-borrower(s) confirm(s) that each of them has/have
    understood the contents of this sanction letter and hereby accept(s) the same after understanding and verifying the contents of this letter.

    Special Terms and Conditions


    1 This education loan sanction offer is made under the HDFC Credila Benchmark Lending Rate.
    2 MI ACH and Security ACH Mandate From: Eemani Siva Sankara Rao, CENTRAL BANK OF INDIA, Guntur, AC#: 1910693753

    Regards
    For HDFC Credila Financial Services Limited

    Authorized signatory
    This is system generated letter, does not require Signature/Company stamp.
    Below acceptance clause will be used in digital sanction letter:
    The Borrower/Co-borrower(s) hereby confirm having received and understood comprehensive and detailed information including terms and conditions regarding
    HDFC Credila’s education loan process in the language known to them. The Borrower/Co-borrower(s) confirm(s) that each of them has/have understood the
    contents of this sanction letter and hereby accept(s) the same after verifying and understanding the contents of this letter

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