programs

Education Loan

AVAGMAH has worked out a Customized Education Loan Scheme with HDFC Bank in order to encourage students to pursue the programs. The Scheme is innovatively designed to enable students to spread out the repayment over a period of up to 12, 24 or 36 months. The details of the loan are as mentioned below.

Partner Organization

AVAGMAH

Loan Amount

Min Rs. 50000 - Rs 3 Lakhs

Margin

Nil

Interest

A special rate of 13 % p.a.

Moratorium*

Repayment to start immediately for part time courses

Repayment period

The borrower will have the choice of repayment in 12, 24, 36 or 48 Equal Monthly Installments after Moratorium.
The loan tenor will be based on the employment of the co-applicant and at the sole discretion of HDFC Bank.

EMI for One Lakh per month

12 Months	24 Months	36 Months	48months
Rs. 8,932	Rs. 4,754	Rs. 3,369	Rs. 2,683

Processing charges

Nil

Prepayment charges

4% of the outstanding amount. No part prepayment possible.

Co Borrower

Mandatory - Parent / Blood Relations / Spouse and the income documents of the co-applicant will be of primary consideration and must meet the required HDFC bank policy.

Documentation

Letter from the Institute confirming the borrowers admission to the course
Letter from the Institute detailing the fee structure and payment schedule
All mark sheets from SSC / 10th Std of the borrower
Applicant and co-applicant loan Application forms (with Photographs) to be submitted
Income proof of Co-applicant
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.
Loan Agreement.
Standing Instructions from the customer to debit the HDFC Bank a/c for the EMI payable.

For more details, please call 1-800-4250-247, 1-800-1020-247, or
080-4069 9100 send email to mba@avagmah.in

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