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HOW THE LOAN WORKS
HDFC Bank will finance upto 90% of the program fees and other expenses listed in the Information Bulletin, for ALL working executives who are selected for admission to a program offered by NIIT Imperia, and fulfil the simple eligibility criteria given below.
The student will have to pay 10% of the total fees, first, before the loan can be utilised.
The special concessional rate of interest will be 13% per annum.
The loan amount will be repaid over a maximum of 12, 24 or 36 months (through Equated Monthly Instalments EMIs calculated at monthly rests) that will begin immediately after the loan is disbursed.
EMI Per Lakh per month | 12 Months | 24 Months | 36 Months |
| Rs. 8932 | Rs. 4,754 | Rs. 3,369 |
Eligibility Criteria: Indian nationals who are working in regular employment (substantiated by proof of employment and proof of salary), and who have been SELECTED for an NIIT Imperia program. Proof of identity, proof of residential and permanent addresses will be required.
For all candidates fulfilling above eligibility criteria, NO other collateral or guarantee will be required. Those who fulfil all eligibility criteria other than minimum monthly salary, may avail of the same loan by enlisting earning parent(s) as co-borrowers.
The candidate has the option to make pre-payments to repay the loan, or foreclose the loan at any time. However 3% will be charged on POS.
No Processing fees for submitting the loan application.
Following Documents Need to be submitted along with application form.
1. Letter from NIIT Imperia confirming the admission to the program
2. Letter from NIIT Imperia detailing the fee structure and payment schedule
3. All mark sheets from SSC / 10th Std of the borrower
4. Applicant and co-applicant ( if applicable) loan Application forms (with Photographs) to be submitted
5. Income proof of Applicant (latest salary slip + 3 months Bank statement)
6. KYC Documents : Address Proof +id proof + signature verification proof
7. Loan Agreement.
8. Standing Instructions if applicant has HDFC Bank account or ECS mandate
9. Declaration
Terms and Conditions
1. HDFC Bank shall grant the Education loan facilities to the students pursuing their programs from Premier business schools conducted thru NIIT IMPERIA 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
2. 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.
3. HDFC BANK will verify independently all finance related parameters of the student according to its set eligibility criterias 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 .
Notes :
1. The maximum loan amount is limited to Rs.4,00,000/-
2. NIIT Imperias role is limited to overall scheme formulation and general facilitation. The processing, sanction and disbursement of loans is at the discretion of HDFC Bank, subject to mutually acceptable terms and conditions between the student and the bank.
