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NIKITA AJAY SINGH NEHA AJAY SINGH
AJAY KUMAR SINGH
Date: Tue Sep 03 19:54:07 IST Date: Thu Sep 05 11:15:52 IST
Date: Wed Sep 04 11:43:08 IST 2024
2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

Education Loan Account No. A2405070039

Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

Language Declaration
English I have understood all the terms and conditions of the agreement.
The contents of this Agreement have been explained to me in the
language I understand
Tamil பிரகடனப் படுத்துகிறேன் : உடன்படிக்ககயின்
விதிமுகேகள் மே் றும் நிபந் தகனககள அறிந்து
ககொண்றடன். உடன்படிக்ககயின் அகனத்து
அம் சங் களும் எனக்கு எனது தொய் கமொழியில்
விவரிக்கப் பட்டு புரிந்து ககொண்றடன்
Malayalam ഈ കരാറിന്ററ എല്ലാ വ്യവ്സ്ഥകള ും
നിബന്ധനകള ും ഞാൻ കൃത്യമായി
മനസിലാക്കിയിട്ട ണ്ട്. ഈ കരാറിന്ററ ഉള്ളടക്കും
എനിക്ക് മനസിലാക ന്ന ഭാഷയിൽ വ്ിശദീകരിച്ച
ത്ന്നിട്ട ള്ളത് മാക ന്ന
Telugu నాకు/మాకు ఈ ఒప్ప ందం లో వ్రాసిన విషయములు,
నిబంధనలు మరియు షరతులు నాకు/మాకు అర థమైన భాష
లో వివరించారు. నేను/మేము ఈ నిబంధనలు మరియు
షరతులను పూరి ిగా అర థం చేసుకునాా ను/చేసుకునాా ము
Kannada ನಾನು ಒಪ್ಪ ಂದದ ಎಲ್ಲಾ ನಿಯಮಗಳು ಮತ್ತು ಷರತ್ತು ಗಳನುು
ಅರ್ಥಮಾಡಿಕಂಡಿದ್ದ ೇನೆ. ಈ ಒಪ್ಪ ಂದದ ವಿಷಯಗಳನುು ನನಗೆ
ಅರ್ಥವಾಗುವ ಭಾಷೆಯಲ್ಲಾ ವಿವರಿಸಲ್ಲಗಿದ್.
Marathi सदर करारातील सर्व अटी र् शती मला समजल्या आहे त. सदर करारातील
मजकूर मला समजत असले ल्या भाषे मध्ये समजून साांगितला आहे , तो मला
मान्य र् काबु ल आहे र् सदर करारातील मजकूर माझे र्र र् माझे र्ाली
र्षाां र्र बां धनकारक आहे त.
Gujarati અમો કરારના તમામ નનયમો અને શરતો સમજી ગયેલ છે. આ કરારની
નિગતો હું જે ભાષા જાણું છું તે ભાષામાું મને સમજાિેલ છે.
Oriya ମ ୁଁ ଉକ୍ତ ଚୁଁ କ୍ତି ର ସମସ୍ତ ସର୍ତ୍ତ ଏବଂ ନିୟମଗୁଁଡିକ ପଢି ବୁଁ ଝି ଅଛି | ଏହି ଚୁଁ କ୍ତି ର
ବିଷୟବସ୍ତୁଁ ମମୋମେ ଓଡିଆ ଭୋଷୋମର ବୟୋଖ୍ୟୋ କରୋଯୋଇଛି |
Punjabi ਮੈਂ ਇਕਰਾਰਨਾਮੇ ਦੇ ਸਾਰੇ ਨਨਯਮਾਾਂ ਅਤੇ ਸ਼ਰਤਾਾਂ ਨੂੰ ਸਮਝ ਨਿਆ ਹੈ। ਇਸ
ਇਕਰਾਰਨਾਮੇ ਦੀਆਾਂ ਸਮੱਗਰੀਆਾਂ ਮੈਨੂੰ ਉਸ ਭਾਸ਼ਾ ਨ ਚ ੱ ਸਮਝਾ ਨਦੱਤੀਆਾਂ ਗਈਆਾਂ
ਹਨ ਜੋ ਮੈਂ ਸਮਝਦਾ/ਦੀ ਹਾਾਂ
Bengali আমি চু ক্তির সকল শর্তাবলী বুঝতর্ পেতরমি। এই চু ক্তির মবষয়বস্তু
আিাতক পসই ভাষায় বযাখ্যা করা হতয়তি যা আমি বুঝতর্ োমর
Assamese িই চু ক্তিৰ সকতলা চর্তাৱলী আৰু মিয়িাৱলী বুক্তি োইতিা। এই
চু ক্তিৰ মবষয়বস্তু িই বুক্তি পোৱা ভাষার্ পিাক বুিাই মিয়া হহতি
Hindi मैं समझौते के सभी गनयमोां और शतों को समझ िया हां । इस समझौते की
गर्षय-र्स्तु मु झे उस भाषा में समझाया िया है गजसे मैं समझता हां
Chhattisgarhi मैं ये गलखा-पढ़ी (अनुबांध) के जम्मो गनयम अऊ सरत मन ल समझ िए
हां र्। ये गलखा-पढ़ी (अनुबांध) के बारे मे मोला मोर समझ म अर्इया भाखा
म समझाए िए हे ।
Urdu ‫ شرائط و ضوابط اس زبان میں بیان کیے گئے ہیں جو‬،‫اس معاہدے کے مندرجات‬
‫ہم ان شرائط و ضوابط کو پوری طرح سمجھتے ہیں۔‬/‫ہم سمجھتے ہیں۔ میں‬/‫میں‬

eSigned using Aadhaar eSigned using Aadhaar eSigned using Aadhaar

(Leegality.com - IR210AF606) (Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

EDUCATION LOAN AGREEMENT

THIS EDUCATION LOAN AGREEMENT (“Agreement”) is executed on the date and at the place as mentioned in
Schedule B (Loan Summary Schedule) hereto,

BETWEEN:

HDFC Credila Financial Services Limited, a public limited company incorporated in India in accordance with the
provisions of the Companies Act, 1956, having its registered office at B-301, Citi Point, Andheri – Kurla Road, Andheri
(East), Mumbai – 400 059 (hereinafter referred to as “HDFC Credila”, which expression shall, unless repugnant to the
context or meaning thereof, be deemed to mean and include its successors and assigns) of the ONE PART;

AND

The Borrower and Co-Borrower(s) (if any) whose name(s) and address(es) are stated in the Schedule B (Loan
Summary Schedule) (hereinafter respectively referred to as “Borrower” and “Co- Borrower(s)” as the case may be which
expressions shall unless repugnant to the context or meaning thereof, be deemed to mean and include their respective
legal heirs, executors, administrators and permitted assigns) of the OTHER PART.

HDFC Credila, the Borrower and Co-Borrower(s) (if any) shall hereinafter be collectively referred to as “Parties” and,
where the context so requires, shall individually be referred to as “Party”. Further, where the context so requires, the
Borrower and Co-Borrower(s) (if any) shall collectively be referred to as the “Borrowers”.

WHEREAS:

i) HDFC Credila is a non-banking financial company registered under section 45 IA of the Reserve Bank of India
Act, 1934 and as such engaged in the business of providing education loans to aspiring individuals intending to
pursue further studies/ educational courses with various educational institutions whether in India or overseas.

ii) The Borrowers represent to HDFC Credila that the Borrower intends to pursue further studies by undertaking
the Course of Study at the Educational Institution, as more particularly detailed in Schedule B (Loan Summary
Schedule) of this Agreement).

iii) The Borrowers have approached and applied to HDFC Credila for availing of the Education Loan Facility for
the purposes of meeting or reimbursing the fees incurred by Borrowers for pursuing the Course of Study at the
Educational Institution including living expenses, air passage, examination fees, travel, payment of premium of
general insurance policy and/or life insurance policy linked to the Education Loan Facility and any other
incidental costs, charges, fees, expenses that are required to be incurred/ have been incurred in relation to the
pursuance of the Course of Study at the Educational Institution by the Borrower.

iv) HDFC Credila has at the request of the Borrowers and relying upon the representations, warranties, undertakings
and covenants contained in this Agreement and subject to the mutually agreed terms and conditions appearing
hereinafter, agreed to grant the Education Loan Facility to the Borrowers for the purposes as more specifically
mentioned in Clause 2.4 (Purpose) of this Agreement.

NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE
PARTIES AS FOLLOWS:

1. DEFINITIONS & INTERPRETATION

1.1 Definitions

In this Agreement, unless the meaning or context otherwise requires, the following words and expressions shall
have the meaning assigned to them as below. In the absence of any definition for any words and expression used
herein but not defined anywhere in this Agreement, such word or expression shall be assigned the meaning as
assigned to such word or expression under the General Clauses Act, 1897 or in the absence of the definition of
such word or expression in both the Agreement as well as the earlier referred statute, then the term or expression
would have the same meaning as understood under the laws of the Republic of India or as assigned to it in
dictionary:

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

a) “Agreement” means, this education loan agreement, together with all annexures, schedules, letters,
applications, deeds, most important terms and conditions of this Agreement and other allied documents
attached hereto, instruments, if any, supplemental to or amending, modifying or confirming this
education loan agreement or any other communication in writing wherein the fact that the same is to be
construed as part of this education loan agreement may be deduced, whether attached herewith or to be
attached in future, from time to time, forming part of this education loan agreement. Wherever the
context so requires, the term “Agreement” shall also be deemed to mean and include any other ancillary
legal documentation and allied loan documentation executed in connection herewith as well as executed
for subsequent tranches disbursed by HDFC Credila under the Education Loan Facility;

b) “Anti-Money Laundering Laws” means all applicable financial record keeping and reporting
requirements and the money laundering statutes including but not limited to the Prevention of Money
Laundering Act, 2002 and the rules and regulations thereunder and any related or similar rules,
regulations or guidelines, which in each case are issued, administered or enforced by any Governmental
Authority having jurisdiction over the Borrowers;

c) “Applicable Law” includes all statutes, enactments, acts of legislature or parliament, laws, ordinances,
rules, bye-laws, regulations, notifications, guidelines, policies, directions, directives and orders of any
Governmental Authority;

d) “Applicable Rate of Interest” or “AIR” means the aggregate of the rate of interest set by HDFC
Credila as its HDFC Credila Benchmark Lending Rate as amended or varied by HDFC Credila from
time to time and Interest Spread (if any) applied by HDFC Credila, as particularly mentioned in Schedule
B (Loan Summary Schedule);

e) “Automated Clearing House” or “ACH” means electronic payment services notified by RBI,
participation in which has been consented to in writing by the Borrowers for facilitating repayment of
the Outstanding Education Loan, as more particularly set out in Schedule C (Repayment Schedule);
f) “Availability Period” means the period during which HDFC Credila shall make available the Education
Loan Facility for disbursement including the subsequent tranche disbursements as more particularly
detailed in Schedule B (Loan Summary Schedule). The Borrowers shall not be entitled to any
disbursement beyond the availability period;

g) “Borrower” means the student who intends to pursue further studies by undertaking the Course of Study
at the Educational Institution, the particulars of which are detailed in Schedule B (Loan Summary
Schedule) hereto;

h) “Borrowers" mean Borrower and Co-Borrower(s) (if any) collectively, particulars of which are
mentioned in Schedule B (Loan Summary Schedule) hereto;

i) “Broken Period” means and include the actual number of days commencing from the date of actual
disbursal of the Education Loan Facilities, upto the last day immediately preceding commencement of
the first or subsequent due cycle as mentioned in Clause 2.3 (Composition of Monthly Installments And
Computation Of Pre-Monthly Installement Interest). In the event there are more than one tranches of
disbursal, the Broken Period shall be calculated separately for each tranche of disbursal of the Education
Loan Facility.

j) “Broken Period Interest” has the meaning given to the term in Clause 2.3 (e) (Composition of Monthly
Installments And Computation Of Pre-Monthly Installement Interest).

k) “CIBIL” means Credit Information Bureau of India;

l) “Co-Borrowers” means the co-borrowers who have availed the Education Loan Facility along with the
Borrower pursuant to this Agreement, the details of which are mentioned in Schedule B (Loan Summary
Schedule) hereto;

m) “Collateral Security” means all or any assets, whether movable or immoveable property, owned by the
relevant Borrowers which is proposed to be or is, either mortgaged, pledged, assigned, hypothecated, or
secured by the relevant Borrowers with HDFC Credila or over which an applicable security interest is
to be created and perfected or is created and perfected, in each case in favour of HDFC Credila for the
purposes of securing the due repayment of the Outstanding Education Loan, the details of which are
more particularly mentioned in Clause 5 (Covenants and Undertakings) hereunder;

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

n) “Course of Study” means the educational course that the Borrower intends to pursue/ pursuing from
the Educational Institution, the details of which are set out in Schedule B (Loan Summary Schedule);

o) “Delayed Payment Charges” means any and all charges assessed and levied by HDFC Credila for
either any delay in payment of any Pre-Monthly Installment Interest and/ or any Monthly
Installment beyond its applicable due date as mentioned in Schedule C (Repayment Schedule) or
for any other default by the Borrower(s) under this Agreement, as HDFC Credila may deem fit;

p) “Educational Institution” means the university or college or such other educational institution from
where the Borrower intends to pursue/ pursuing the Course of Study, particulars of which are set out in
Schedule B (Loan Summary Schedule);

q) “Education Loan Account” means the account to be opened in the name of the Borrowers with HDFC
Credila through which the Education Loan Facility is to be disbursed and having the Education Loan
Account Number (the details of which are mentioned in Schedule B (Loan Summary Schedule) of this
Agreement);

r) “Education Loan Facility” means the aggregate of the principal amount proposed to be provided/
provided to the Borrowers by HDFC Credila for the purposes more particularly mentioned in Clause 2.4
(Purpose) of this Agreement, the details of such Education Loan Facility are mentioned in Schedule B
(Loan Summary Schedule) and Schedule C (Repayment Schedule);

s) “Encumbrance” shall mean, in relation to any relevant property, (a) any mortgage, pledge,
hypothecation, charge, assignment, deposit arrangement, non-disposal undertaking, encumbrance, lien
(statutory or other), lock-in provisions, preference, priority, escrow or any agreement / right in the nature
of / for the purpose of securing any obligation of any Person; (b) any agreement / document which
creates/grants/confers or purports to create/grant/confer any right or interest to / in favour of / to the use
or order of any Person to deal with or restrict the use or transfer of the relevant property including but
not limited to as an attorney, agent, etc.; (c) any agreement of any kind or nature whatsoever which
grants any right to any Person in respect of the relevant property, including, without limitation, any
conditional sale or other title retention agreement, any financing or similar statement or notice filed
under any recording or notice statute or any lease or license arrangement; (d) any type of preferential
arrangement (including but not limited to title transfer, option or right of pre-emption, entitlement to
beneficial ownership) having a similar effect; (e) any other agreement having substantially the same
effect as any of the foregoing or any agreement, conditional or otherwise, to create any of the foregoing.

t) “Effective Date of Disbursement” means any date on which any amount of the Education Loan Facility
is disbursed to the Borrowers. In the case of disbursement by cheque it shall be the date of drawing of
such cheque, in the case of demand draft – that date of purchase of such draft; in case of a transfer of
funds by means of a RTGS or NEFT, the instruction by the date of such instruction being delivered to
the bank by HDFC Credila and in all such cases such effective date of disbursement shall be irrespective
of the time taken for transit/ collection/ realization of the cheque/ demand draft/ RTGS/ NEFT instruction
by the Borrowers or the bank;

u) “Events of Default” shall have the meaning as ascribed to it under Clause 7 (Event of Default) and
further all such events upon the occurring of which HDFC Credila’s remedies under Clause 8
(Consequences of Event of Default) hereunder written shall be triggered;

v) “Facility Documents” means collectively:

(i) this Agreement including any other addendum or amendments made to this Agreement;

(ii) the Security Documents including any amendments thereof;

(iii) a money bond or a demand promissory note;

(iv) any other undertaking, notes, agreements, deeds and any other documents executed by the
Borrowers.

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

w) “Governmental Authority” means any government, trade agency, department, agency or

instrumentality of any government thereof, departments, bodies, regulatory authorities, government
authorities, any court or arbitral tribunal and the governing body of any securities exchange or other
securities self-regulatory body;

x) “HDFC Credila Benchmark Lending Rate” means the interest rate as set by HDFC Credila from time
to time as its benchmark lending rate;

y) “Interest Rate Reset Revision Cycle” or “IRRRC” means the frequency at which future/ further
Applicable Rate of Interest are applied in terms of Clause 2.2 (Interest) of this Agreement;

z) “Interest Spread” means the interest rate as set by HDFC Credila as detailed in Schedule B (Loan
Summary Schedule) as its interest spread which shall be added with the HDFC Credila Benchmark
Lending Rate to arrive at the Applicable Rate of Interest;

aa) “Interest” means the aggregate of all amounts payable as interest on the principal amount of the
Education Loan Facility at the Applicable Rate of Interest and which amounts accrue in accordance with
the provisions of Clause 2.2 (Interest) hereto;

bb) “Loan Summary Schedule” means the loan summary schedule detailed in Schedule B (Loan Summary
Schedule) hereto as may be varied or modified by HDFC Credila from time to time and notified to the
Borrowers;

cc) “Material Adverse Effect” means the effect or the consequence of any event or circumstance which is,
or in HDFC Credila’s sole opinion is likely to be (a) adverse to the ability of all or any of the Borrowers
to perform or comply with any of their respective obligations under the Agreement; or (b) prejudicial to
any of the businesses or operations or financial condition of all or any of the Borrowers, whether present
or expected;

dd) “MI ACH” has the meaning given to the term in Clause 2.7 (d) (Repayment) of this Agreement;

ee) “Monthly Installment” or “MI” means the amount of payment to be made each month by the
Borrower(s) to HDFC Credila that would be necessary to amortise the Outstanding Education Loan as
detailed in Schedule C (Repayment Schedule) or as may be varied or modified by HDFC Credila from
time to time;

ff) “Moratorium Period” means the actual period of the Course of Study and such other grace period after
completion of the Course of Study, as mentioned in Schedule B (Loan Summary Schedule) (as may be
varied or modified by HDFC Credila from time to time);

gg) “Outstanding Education Loan” means the aggregate of the amounts disbursed from time to time by
HDFC Credila out of the Education Loan Facility and outstanding in accordance with the provisions of
this Agreement along with all Interest accrued thereon including Pre-Monthly Installment Interest,
Monthly Installment, Broken Period Interest, Delayed Payment Charges and all other applicable
obligations and liabilities of the Borrowers, including, indemnities, expenses, fees, and penalties,
incurred under, arising out of or in connection with the Education Loan Facility;

hh) “Personal Data” shall have the same meaning as ascribed to the term 'Sensitive Personal Data or
Information' under the Privacy Rules (as amended from time to time).

ii) “Pre-Monthly Installment Interest” or “PMII” means the amount of Interest payable by Borrower to
HDFC Credila each month during the Moratorium Period, as detailed in Schedule C (Repayment
Schedule) or as may be varied or modified by HDFC Credila from time to time;

jj) “Prepayment” means premature repayment of the Outstanding Education Loan by the Borrowers as
per the terms set out in Clause 2.9 (Prepayment) of this Agreement and as per such other terms and
conditions as may be prescribed by HDFC Credila from time to time;

kk) “Privacy Rules” has the meaning given to it in Clause 12 (b) (i) (Data Protection and Information
Security) of this Agreement;

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

ll) “RBI” means the Reserve Bank of India, constituted under the Reserve Bank of India Act, 1934 as
amended from time to time;

mm) “Repayment Schedule” means the repayment schedule detailed in Schedule C (Repayment Schedule)
hereto which may be amended, varied or modified by HDFC Credila (whether in whole or in part) from
time to time during the term of this Agreement;

nn) “Sanction Letter” means the letter issued by HDFC Credila to the Borrowers, as duly accepted by the
Borrowers, setting out the indicative terms on which the Education Loan Facility has been sanctioned;

oo) “Security ACH” has the meaning given to the term in Clause 2.7 (d) (Repayment) of this Agreement;

pp) “Security Documents” means the deed of hypothecation, mortgage documents, indenture, memoranda
of entry, pledge agreement, any letter of authority or any other security document executed or to be
executed by the Borrowers in favor of HDFC Credila or any trustee or agent of HDFC Credila or any
other authority as may be required under Applicable Law from time to time, to create Collateral Security
as may be acceptable to HDFC Credila for securing the Education Loan Facility;

qq) “Tax” or “Taxes” includes any and all present or future claims for tax, levy, impost, duty or other
charge of a similar nature (including any penalty or interest payable in connection with any failure to
pay or any delay in paying any of the same), however imposed, withheld, levied, or assessed by any
Government, but shall not include tax on the income of any Party;

1.2 Interpretation

In this Agreement unless otherwise clearly indicated by, or inconsistent with the context:

a. Any reference to a “Recital”, “Article”, “Clause”, “Schedule” or a “Paragraph” is to a recital, article,

clause, schedule or paragraph of this Agreement.

b. The headings to the Articles, Clauses, Schedules and Paragraphs are for convenience only and shall not
constrain or affect the construction or interpretation of the Agreement in any manner whatsoever.

c. Wherever the context so requires any reference to the singular includes the plural, and vice versa.

d. Words importing masculine gender shall include feminine gender and neuter gender, words importing
feminine gender shall include masculine gender and neuter gender, and words importing neuter gender
shall include the feminine gender and masculine gender.

e. References to the words “include” and “including” shall be construed as without limitation and not being
restricted to.

f. Any reference to any agreement, deed, instrument or other document: (i) shall include all appendices,
exhibits and schedules thereto; and (ii) shall be a reference to such agreement, deed, instrument or other
document as amended, supplemented, modified, suspended, restated or novated from time to time.

g. References to any statute or statutory provision or order or regulation made there under shall include
that statute, provision, order or regulation as amended, modified, re-enacted or replaced from time to
time whether before or after the date hereof.

h. This Agreement shall not be construed or interpreted against any Party by reason of such Party, or such
Party’s legal advisors, having drafted, or participated in the drafting of, this Agreeme nt.

i. The terms and conditions of the Sanction Letter, the loan application and the related documents executed/
to be executed shall be read and form part and parcel of this Agreement. In case of inconsistency in any
of the stated documents executed on or before the date of execution of this Agreement, the terms and
conditions of this Agreement shall prevail.

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(Leegality.com - IR210AF606) (Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

2. EDUCATION LOAN AMOUNT, INTEREST, REPAYMENT, ETC.

2.1 Education Loan Amount:

The Borrowers agree to borrow from HDFC Credila and HDFC Credila agrees to lend to the Borrowers an
amount not exceeding the Education Loan Facility, whether disbursed in lumpsum or in multiple tranches, as
stated in Schedule C (Repayment Schedule) on the terms, conditions and covenants set forth herein.

2.2 Interest:

Interest on an Education Loan Facility shall accrue on and from the Effective Date of Disbursement and shall be
charged at the Applicable Rate of Interest. Until such time as the same is varied or modified by HDFC Credila
as per the terms of this Agreement, the AIR applicable to the Education Loan Facility is as stated in Schedule B
(Loan Summary Schedule).
Provided, all future/further AIRs shall be applied by HDFC Credila on the basis of the IRRRC stated in Schedule
B (Loan Summary Schedule), with the first application to be done on the first day of the month following the
month in which the period of IRRRC computed from the date of the first disbursement of the loan is completed.
Subsequent applications shall be made after every period of IRRRC commencing from such first application.

2.3 COMPOSITION OF MONTHLY INSTALLMENTS AND COMPUTATION OF PRE-MONTHLY

INSTALLMENT INTEREST:
a) In order to amortise the Education Loan Facility, the Borrowers shall pay such amounts as Pre-Monthly
Installment Interest and Monthly Installments to HDFC Credila on such dates as detailed in the
Repayment Schedule.

b) The Pre-Monthly Installment Interest accrues on and from the Effective Date of Disbursement and shall
be charged each month during the Moratorium Period, the details of which are set out in Schedule C
(Repayment Schedule). The Pre-Monthly Installment Interest on the Outstanding Education Loan shall
be paid by the Borrowers on the relevant due date at the Applicable Rate of Interest on monthly
compounded basis, the details of which are more particularly set out in Schedule C (Repayment
Schedule). The Pre-Monthly Installment Interest shall be computed on a basis of a year of 360 (three
hundred and sixty) days. The Pre-Monthly Installment Interest shall be rounded off to nearest rupee.

c) The Monthly Installments (as mentioned in the Repayment Schedule) payable by the Borrowers to
HDFC Credila shall comprise the following:

(i) principal amount of the Education Loan Facility and Interest calculated on the basis of monthly
rests at the AIR; and

(ii) all other amounts due and payable to HDFC Credila in accordance with the provisions of this
Agreement.

d) The Borrowers shall be required to pay the Monthly Installments from each due date (as particularly
mentioned in the Schedule C (Repayment Schedule) until repayment of the Outstanding Education Loan
to the complete satisfaction of HDFC Credila. The Monthly Installments shall be computed on a basis
of a year of 360 (three hundred and sixty) days. The amount of Monthly Installments shall be rounded
off to nearest rupee.

e) Interest for the Broken Period will be calculated on the amount of each disbursal of the Education Loan
Facility on the basis of simple interest as prevailing from time to time, with daily rest (“Broken Period
Interest”). For the purpose of calculation of Interest during Broken Period, the number of days shall be
assumed to be 365 (three hundred and sixty five) days in a year.

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(Leegality.com - IR210AF606) (Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

f) During the term of this Agreement, HDFC Credila shall have the right, at its sole discretion, at any time
and from time to time, to vary, revise or modify the AIR and/or Repayment Schedule, consequently the
re-payment terms of the Outstanding Education Loan shall be amended, varied or modified in accordance
with the revised Repayment Schedule. Any such variation or modification in the AIR shall take effect
and become applicable from the first day of the calendar month of the IRRRC immediately following
the date of such change by HDFC Credila in the AIR. In such event that HDFC Credila shall vary or
modify the AIR, HDFC Credila shall intimate such variation or modification in the AIR to the Borrowers
(or any one of them) through the registered e-mail ids of the Borrowers, the details of which are
particularly mentioned in Schedule B (Loan Summary Schedule) of this Agreement and shall also make
available to the Borrowers (or any one of them) an amended Repayment Schedule (as particularly
specified in Annexure B (Repayment Schedule) of this Agreement) upon any request made by the
Borrowers (or any one of them). The Borrowers hereby expressly understand and agree that any variation
or modification in the AIR shall have the effect of amending the amounts payable by the Borrowers as
Pre-Monthly Installment Interest and/or Monthly Installments as detailed in the Repayment Schedule
and each of the Borrowers hereby expressly consents to such amendment(s) to the Repayment Schedule
and further expressly agrees and undertakes to make payment of the Pre-Monthly Installment Interest
and/or Monthly Installments in accordance with the amended Repayment Schedule. Without prejudice
to HDFC Credila’s abovementioned right to vary or modify the AIR, during the term of this Agreement,
HDFC Credila shall also have the right, at its sole discretion to amend, vary or modify the amount and/or
number of Monthly Installments detailed in the Repayment Schedule and/or the number and/or amount
of Pre-Monthly Installment Interest and/or the respective due dates for one or more Monthly Installments
and/or Pre-Monthly Installment Interest.

g) Notwithstanding anything to the contrary contained in this Agreement, having regard to the AIR for the
time being, HDFC Credila shall be entitled to increase the Monthly Installments amount suitably if the
said Monthly Installments would lead to negative amortization (i.e. MI not being adequate to cover
Interest in full). The Borrowers shall be required to pay such increased Pre-Monthly Installments Interest
and/or Monthly Installment amount and the number thereof as decided by HDFC Credila in the amended
Repayment Schedule). Each of the Borrowers hereby expressly consents to such amendment(s),
variations or modifications to the Repayment Schedule and further expressly agrees and undertakes to
make payment of the Monthly Installments and/or Pre-Monthly Installment Interest in accordance with
the amended, varied or modified Repayment Schedule.

h) In the event of any amendment variation or modification to the Repayment Schedule), the Borrowers (or
any one of them) may request HDFC Credila to avail the copy of the amended or revised Repayment
Schedule. Upon receipt of such request from any of the Borrowers, HDFC Credila shall provide the
amended, varied or modified Repayment Schedule to the Borrowers. Each of the Parties hereby agrees
that any amendment, modification or variation to the Repayment Schedule shall be binding on the Parties
from the date on which HDFC Credila shall have varied or modified the Repayment Schedule pursuant
to any change or modification in the Applicable Rate of Interest.

i) In the event of partial payment of any Pre-Monthly Installment Interest during the Moratorium Period,
the unpaid portion of the accrued Pre-Monthly Installment Interest during the Moratorium Period would
be added to the principal amount of Education Loan Facility and the amount of the Monthly Installments
would be accordingly revised.

j) Without prejudice to HDFC Credila’s other rights, Interest as aforesaid and all other amounts due and
payable by the Borrowers to HDFC Credila under this Agreement (and under Facility Documents or any
other agreement entered or to be entered by HDFC Credila in relation to the Education Loan Facility),
shall be charged/debited to the Education Loan Account of the Borrowers on the respective due date
thereof and shall be deemed to form the part of the Outstanding Education Loan.

k) The Interest Spread applicable to the Borrowers for the purpose of computation of AIR is as indicated
in Schedule B (Loan Summary Schedule). In the event of HDFC Credila offering the revised Interest
Spread in future, the Borrowers shall have the option to opt for the revised Interest Spread in respect of
the Education Loan Facility, provided if such option is made available by HDFC Credila, with
prospective effect upon payment of such fee and execution of documents as HDFC Credila may prescribe
in that behalf. It shall be the Borrowers responsibility to keep themselves informed about the revision in
Interest Spread from time to time.

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(Leegality.com - IR210AF606) (Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

2.4 Purpose

The Borrowers shall utilise the Education Loan Facility for the purposes of meeting or reimbursing the fees
incurred by Borrowers for pursuing the Course of Study at the Educational Institution including living expenses,
air passage, examination fees, travel, payment of premium of general insurance policy and/or life insurance
policy linked to the Education Loan Facility and any other incidental costs, charges, fees, expenses that are
required to incurred/ have been incurred in relation to the pursuance of the Course of Study at the Educational
Institution by the Borrower.

2.5 Disbursement of Education Loan Facility:

a) In order to avail the drawdown of the Education Loan Facility, the Borrowers shall provide HDFC
Credila with a drawdown request. The Borrowers, at the time of submitting such drawdown request,
shall provide to HDFC Credila all such supporting deeds, documents and certificates as are required for
evidencing the proposed end-use of the Education Loan Facility and upon receipt of all of the aforesaid
documents, HDFC Credila shall disburse the Education Loan Facility to the Borrower and/or the Co-
Borrower(s) and/or the Educational Institution as may be directed by any one or all of the Borrowers,
either in one lumpsum or in suitable installments as decided by HDFC Credila with reference to the
request(s) of the Borrowers, wherein decision of HDFC Credila shall be final and binding on the
Borrowers. The terms and conditions of this Agreement shall also cover each tranche of the Education
Loan Facility disbursed in future, unless anything To the contrary is specified by HDFC Credila at that
point of time.
b) Notwithstanding anything contained herein, the Borrowers shall only be entitled to avail the Education
Loan Facility within the Availability Period as mentioned in Schedule B (Loan Summary Schedule) or
such other extended period as may be stipulated by HDFC Credila at its sole discretion, failing which
HDFC Credila shall not consider any disbursement requests received by it. Every disbursement under
the Education Loan Facility to the Borrower and/ or the Co-Borrower(s) (if any) and/or Educational
Institution and/ or to such other entity as may be directed by any one or all of the Borrowers shall be
deemed to have been made by HDFC Credila to all the Borrowers.
c) All disbursements made by HDFC Credila shall be made by cheque or demand draft or NEFT or RTGS
or Wire Transfer or pay order duly crossed and marked “Account Payee Only” and the collections
charges, if any, in respect of all such instruments or authorizations shall be solely to the account of the
Borrowers. It is clarified that at no time shall HDFC Credila make any disbursements in cash.
d) HDFC Credila shall not be bound to disburse the Education Loan Facility (or any part thereof) and may
either reduce the amount of the Education Loan Facility or decline to disburse the Education Loan
Facility (or any part thereof) or discontinue further disbursements (if any) of the Education Loan Facility
at any time at its absolute discretion. In the event of such discontinuance of further disbursements of the
Education Loan Facility, the amounts already disbursed by HDFC Credila under this Agreement along
with the applicable Interest shall be immediately repayable forthwith by the Borrowers either in a single
installment or two or more installments as may be decided and demanded by HDFC Credila at its sole
discretion and the Borrowers waive any right to challenge such decision of HDFC Credila.
e) Further, if during the Tenure, the Borrowers shall request HDFC Credila in writing to increase the
Education Loan Facility, HDFC Credila would at its sole discretion, consider such request. In the event
that HDFC Credila shall agree to increase the Education Loan Facility, then the Borrowers shall execute
all such additional documents, supplemental deeds and writings as may be required by HDFC Credila at
its absolute discretion and may be subject to such other additional terms and conditions as HDFC Credila
shall deem necessary in its sole discretion.
f) The Education Loan Facility has been made available to the Borrowers and the disbursements therefrom
shall be made subject to the terms and conditions imposed by HDFC Credila in this regard from time to
time (including, but not limited to, under this Agreement), the Borrowers complying with all provisions
of Applicable Law as well as each of the Borrowers complying with all applicable requirements
prescribed by the RBI or other concerned authorities. HDFC Credila shall be entitled, at its sole
discretion, to refuse to disburse any amount under the Education Loan Facility, in the event that the
Borrowers fail to or are unable to comply with any of the terms and conditions imposed by HDFC Credila
in this regard from time to time (including, but not limited to, under this Agreement) and/ or the
Borrowers failing to comply with the provisions of Applicable Law and/ or in the Borrowers (or any of
them) failing to adhere to any of directions issued by HDFC Credila in this regard and/ or for any reason
whatsoever at HDFC Credila’s sole discretion and/ or in the event that HDFC Credila is unable to
disburse any part of the Education Loan Facility under the provisions of Applicable Law and/or where
the disbursement of the Education Loan Facility (or any part thereof) shall cause HDFC Credila to breach
the provisions of any Applicable Law.

eSigned using Aadhaar eSigned using Aadhaar eSigned using Aadhaar

(Leegality.com - IR210AF606) (Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

g) On completion of the Course of Study as identified in Schedule B (Loan Summary Schedule), any
undisbursed Education Loan Facility will automatically lapse.
2.6 Tenure of the Education Loan Facility

The tenure of the Education Loan Facility shall be as set out in Schedule B (Loan Summary Schedule)
(“Tenure”).

2.7 Repayment

a) During and upon the expiry of the Tenure, until the Outstanding Education Loan is repaid in full to the
sole satisfaction of HDFC Credila, the obligation of the Borrowers to repay the Outstanding Education
Loan is absolute and irrevocable. Subject to Clause 9 (Statement of Account), the Borrowers agree and
undertake to regularly make the payment of Pre-Monthly Installment Interest and Monthly Installments
as per such mode of repayment as may be determined by HDFC Credila and as per Schedule C
(Repayment Schedule) which may be revised by HDFC Credila as per the provisions of Clause 2.3
(Composition of Monthly Installments And Computation Of Pre-Monthly Installement Interest) above.

b) Notwithstanding what is stated in Clause 2.7 (a) (Repayment) above and in the Repayment Schedule (as
particularly specified in Schedule C (Repayment Schedule) of this Agreement), HDFC Credila shall have
the right at any time or from time to time to review and reschedule the repayment terms of the
Outstanding Education Loan in such manner and to such extent as HDFC Credila may in its sole
discretion decide. In such events the Borrowers shall repay the Outstanding Education Loan or the
outstanding amount thereof as per the amended, varied or modified Repayment Schedule notified by
HDFC Credila to the Borrowers (or any one of them).

c) Save and except as provided under sub-clause (e) below, the Monthly Installments amount is intended
to be kept constant irrespective of variation in the AIR and as a result of this, the number of Monthly
Installments is liable to vary. However, the Borrowers may request HDFC Credila to increase the
Monthly Installments by providing explanation along with supporting documents and evidences, to the
complete satisfaction of HDFC Credila. Upon receipt of explanation along with supporting documents,
HDFC Credila may increase the Monthly Installments subject to its sole discretion. The Borrowers shall
pay Monthly Installments until the Outstanding Education Loan together with Interest and other charges
is repaid in full to HDFC Credila.

d) Upon the execution of this Agreement, the Borrower(s) shall deliver to HDFC Credila, a registered ACH
(as may be agreed between the Parties) of an amount equivalent up to 1.5x of the Monthly Installments
payable on the Education Loan Facility (“MI ACH”) and (b) a registered ACH of an amount equivalent
to the sum of (i) Education Loan Facility, (ii) accrued and unpaid Interest amount during the Moratorium
Period, as calculated in accordance with Clause 2.2 (Interest) and Clause 2.3 (Composition of Monthly
Installments And Computation Of Pre-Monthly Installement Interest) of this Agreement and (iii) INR
1,00,000 (Rupees one lakh) (“Security ACH”). In addition, and simultaneous with the execution of this
Agreement, the Borrowers shall execute all such forms and provide all such instructions as shall be
necessary or required to give effect to any mode of payment of Outstanding Education Loan as shall be
agreed by HDFC Credila and the Borrowers for this purpose.

e) The Borrowers hereby expressly agree and acknowledge that HDFC Credila shall have the right (at its
sole discretion) at any time or from time to time, to review and revise the repayment terms of the
Outstanding Education Loan in such manner as HDFC Credila may stipulate in this regard and that any
such revision shall be binding upon the Borrowers.

f) In the event of the Borrower and/ or Co-Borrower(s) (if any) committing any default in the
repayment of any sum due hereunder or committing any breach or default of any other provision
of this Agreement in, the Borrowers shall pay, as and when demanded by HDFC Credila, Delayed
Payment Charges at such rate as specified in the most important terms and conditions and
Schedule B (Loan Summary Schedule) and as varied from time to time by HDFC Credila. Such
Delayed Payment Charges shall be computed from the due date of the overdue payment in
question till the date of actual payment. The Borrowers expressly agree that the amount of such
Delayed Payment Charges is a fair estimate of the loss/ financial disadvantage suffered or likely
to be suffered by HDFC Credila by reason of such delay/ default on the part of the Borrowers. In
addition and without prejudice to what is stated herein above, the Borrowers shall also be liable
to pay for all costs, charges and expenses which HDFC Credila may pay or incur in any way
resulting from the default such as the cheque bounce charges, collection charges, etc. as set out in
the most important terms and conditions of this Agreement.

eSigned using Aadhaar eSigned using Aadhaar eSigned using Aadhaar

(Leegality.com - IR210AF606) (Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

g) The Borrowers agree and confirm that notwithstanding any of the provisions of the Contract Act, 1872
or any other Applicable Law or any of the terms and conditions contained in the Agreement and or any
other Facility Documents, any payment(s) made by them shall, unless otherwise agreed to by HDFC
Credila in writing, be appropriated in the following manner:

i) First towards costs, charges, expenses and other monies, due and payable to HDFC Credila;
ii) Secondly towards overdue PMII, overdue MI, Delayed Payment Charges, Interest due and
payable and / or accrued / due to and payable to HDFC Credila; and
iii) Lastly towards repayment of principal amount of the Outstanding Education Loan including
sums due and payable or becoming due and payable to HDFC Credila.

h) All payments to be made by the Borrower and/or Co-Borrowers (if any) to HDFC Credila, under this
Agreement or under any other agreement entered or to be entered by HDFC Credila in relation to the
Education Loan Facility, shall be made free and clear of and without any deduction for or on account of
any Taxes including income tax, service tax, duties (including stamp duties and any other applicable
taxes, charges or levies as may be levied by any Governmental Authority from time to time). If the
Borrowers are required to make such deduction/ withholding as prescribed under any Applicable Law,
then in such case, the sum payable to HDFC Credila shall be increased to the extent necessary to ensure
that, after making such deduction/ withholding, HDFC Credila receives and retains (without any liability
and obligation for such deduction and payment thereof) a sum equal to the sum which it would have
received had such deduction not been made or required to be made.

2.8 Liability to be joint and several

Notwithstanding anything stated herein, the liability of the Borrowers to repay the Outstanding Education Loan
and to fulfill their respective obligations under this Agreement shall be joint and several. Any act done by either
of the Co-Borrower(s) (if any) would be construed as an act of the Borrower and the Borrower would be held
liable for the same under the terms of this Agreement and vice-versa. Moreover, any act, including instructions
issued for any disbursement of the Education Loan Facility, of any one of the Borrowers would be construed as
an act on behalf of all the Borrowers, thereby making them jointly and severally liable for their acts under this
Agreement.

2.9 Prepayment

a) The Borrowers shall be entitled to prepay either the entire Outstanding Education Loan or part thereof,
Any voluntary prepayment shall be made with accrued Interest up to the date of such prepayment, as
calculated under Clause 2.3 (Composition of Monthly Installments And Computation Of Pre-Monthly
Installement Interest) of this Agreement. The Borrowers shall be entitled to make the abovementioned
prepayment by providing HDFC Credila with an intimation in writing of the Borrowers’ intention to
make such prepayment. In the event of any prepayment, HDFC Credila will not charge any prepayment
charges.

b) If the Borrowers pay the Pre-Monthly Installments Interest and/or Monthly Installment in advance, then
such amount shall be adjusted against the Pre-Monthly Installments Interest and/or Monthly Installment
as per the Repayment Schedule. However, it is clarified that HDFC Credila shall not be liable to pay any
interest on any advance installment payments made by the Borrowers to HDFC Credila.

c) The Borrowers agree and confirm to abide by the Anti-Money Laundering Laws while prepaying either
the whole or any part of the Outstanding Education Loan.

d) Upon prepayment of partial amount of the Outstanding Education Loan, the amount of Monthly
Installments shall be revised and reduced into smaller thresholds unless the Borrowers specifically
request HDFC Credila to not make any further reduction in the amount of Monthly Installments.
However, the decision of HDFC Credila shall be final and binding on the Borrowers.

eSigned using Aadhaar eSigned using Aadhaar eSigned using Aadhaar

(Leegality.com - IR210AF606) (Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

2.10 Taxes

a) Provided that all such Taxes as required by Applicable Law, whether as prevailing as of the date of this
Agreement or as may be imposed at any time during the Tenure, to be deducted/ withheld by the
Borrowers shall be paid by the Borrowers when due and the Borrowers shall, within the statutory time
frame prescribed under Applicable Law or within 20 (Twenty) days of the payment being made,
whichever is earlier, deliver to HDFC Credila, satisfactory evidence in accordance with Applicable Laws
evidencing deduction of the applicable amounts of Tax at source and payment of such deducted amounts
to the appropriate Governmental Authority.

b) The Borrowers shall reimburse or pay to HDFC Credila such amount as may have been paid or become
payable by HDFC Credila to any Governmental Authority or any other authority on account of any Tax
or any other charges that may be levied on either on any Interest or on any other costs, fees, charges or
any other amounts payable by or to HDFC Credila under the provisions of this Agreement. Such
reimbursement or payment shall be made by the Borrowers as and when called upon to do so by HDFC
Credila. The provisions of this Clause 2.10 (Taxes) shall survive any termination of this Agreement.

3. SECURITY

a) The Borrowers covenant that the Education Loan Facility along with the Outstanding Education Loan
in relation to the Education Loan Facility shall be secured by such Collateral Security with HDFC
Credila, as particularly mentioned in Schedule B (Loan Summary Schedule). HDFC Credila has the sole
discretion to decide on the Collateral Security to be furnished by the Borrowers, including the time of
creation of security, type and manner of creation of such security and the Borrowers undertake to execute
all such deeds and documents and/or do all acts as may be required by HDFC Credila to create valid
security interest over the Collateral Security and shall also be liable to pay all related legal and other
expenses arising out of or for the creation of the applicable security interest over the Collateral Security
in favour of HDFC Credila. HDFC Credila shall, at its sole discretion, be entitled to call upon the
Borrowers to furnish such additional/ alternative collateral security for the purposes of securing the
Borrowers’ obligations under this Agreement as HDFC Credila may from time to time require. In the
event that HDFC Credila shall require the Borrowers to provide any additional/alternative security, the
Borrowers shall, at their sole cost and expense, provide/create the required additional/alternative
collateral security of a type and in a form and manner acceptable to HDFC Credila.
b) The relevant Borrowers shall offer an alternative or additional Collateral Security, as the case may be,
during the Tenure of the Education Loan Facility, if HDFC Credila is of the opinion at any point of time
that the Collateral Security has diminished in value or there is a deterioration or damage to the property
or there is a possibility of its unacceptability or suitability as a suitable Collateral Security or further if
there is any defect to the title in property which comes to the knowledge of HDFC Credila at a later date
or for any other reason whatsoever without any delay or demur.

c) For the purpose of securing the repayment of the Education Loan, Interest and other payments/charges
under this Agreement, the Borrowers shall also execute:

i) a money bond or a demand promissory note in favour of HDFC Credila, for an amount
equal to the Sanctioned Loan Amount, Interest as calculated as per the provisions of
Clause 2.2 (Interest) and any other dues and charges payable by the Borrowers to HDFC
Credila, in the form and manner as annexed hereto as Annexure C;

ii) all such agreements, documents, undertakings, declarations, that may be required by
HDFC Credila either now or at any time during the Tenure and until the Education Loan
is repaid in full to the sole satisfaction of HDFC Credila.

d) Unless as otherwise expressly provided in this Agreement, no Collateral Security shall be released,
waived, forfeited, cancelled, terminated or reduced in any way till the repayment of the Outstanding
Education Loan or prepayment of the entire Outstanding Education Loan, to the complete satisfaction
of HDFC Credila.

eSigned using Aadhaar eSigned using Aadhaar eSigned using Aadhaar

(Leegality.com - IR210AF606) (Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

4. REPRESENTATIONS AND WARRANTIES

Each of the Borrowers hereby jointly and severally represents and warrants to HDFC Credila as follows:

a) Each of the Borrowers (except in cases wherein the Borrower is a minor) is competent to contract under
the Indian Contract Act, 1872 and is major having sound mind and is solvent against whom no
insolvency or bankruptcy proceedings have been undertaken, and has the necessary legal capacity, power
and authority to enter into the Facility Documents and to exercise his/her rights and perform obligations
herein and the performance of each of the Borrower’s obligations herein does not conflict with or will
conflict with any other obligations of the Borrowers or any Applicable Law;
b) Each of the Co-Borrowers is executing this Agreement in favour of the HDFC Credila, both in his/ her
own capacity and as legal guardian on behalf of the minor Borrower (if the Borrower is minor at the
time of signing the loan agreement);

c) The obligations expressed to be assumed by each of the Borrowers under the Facility Documents are
legal and valid obligations binding on each of them in accordance with the terms thereof;

d) All the information provided by each of the Borrowers to HDFC Credila, whether under this Agreement
and/or under other Facility Documents, is true and correct and each Borrower further agrees to indemnify
HDFC Credila for any losses or damages that HDFC Credila may suffer on account of any material
misstatement, misrepresentation or gross negligence in providing the information therein;

e) Each of the Borrowers has read the terms and conditions and other applicable rules of HDFC Credila in
connection with the Education Loan Facility and agrees to abide and be bound by them;

f) Any amount disbursed under the Education Loan Facility will be used by the Borrower only for the
purpose of meeting various expenses incurred in relation to the pursuance of the Course of Study from
the Educational Institution as particularly set out in Clause 2.4 (Purpose) of this Agreement;

g) None of the Borrowers have availed any other loan from any other bank or financial institution or any
other source for the purpose of meeting the expenses incurred in relation to the pursuance of the Course
of Study by the Borrower from the Educational Institution as covered under this Agreement;

h) None of the Borrowers are listed as being “willful defaulters” with the RBI or TransUnion CIBIL
Limited nor any of the Borrowers’ name appears in any caution list of any nature published by the RBI
or any similar authority;

i) None of the Borrowers are in default of any Applicable Law which they are bound by nor any of them
are party to any litigation or suits of a material character, whether in a court of law or before any other
relevant revenue or Governmental Authority, which would affect their ability to comply with the terms
of the Facility Documents and/or to fulfill their obligations in relation to the Education Loan Facility
granted under this Agreement and none of the Borrowers are aware of any facts that are likely to give
rise to such litigation or to any material claims against them;

j) No litigation or administrative or arbitration proceedings are pending against any of the Borrowers or
their assets which would have or is likely to have a material adverse effect on their ability to create
security over the Collateral Security and to fulfil their obligations under this Agreement and any other
Facility Documents;

k) None of the Borrowers are entitled nor any of them shall claim immunity for themselves or the properties
offered by any of them as Collateral Security from any suit, execution proceeding, attachment, or any
other legal process in any proceedings in relation to the terms and conditions of this Agreement and any
other Facility Documents;

l) Each of the Borrowers represents and warrants that each of the Borrowers will not seek to claim or
recover from HDFC Credila or any of its officer or agents, on any grounds or in any circumstances,
damages whether punitive or not in respect of any actions and/ or proceedings taken by HDFC Credila
against the Borrowers;

eSigned using Aadhaar eSigned using Aadhaar eSigned using Aadhaar

(Leegality.com - IR210AF606) (Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

m) Each of the Borrowers has complied with all Applicable Laws relating to payment of Taxes and that at
present there are no arrears of any Taxes or revenues due and outstanding. There are no pending
proceedings under the Income Tax Act, 1961 against each of the Borrowers (as an assessee) and
therefore, for the purpose of creation of security over Collateral Security, no prior certification / consent
of the assessing officer under Section 281 of the Income Tax Act, 1961 is required to be obtained;

n) No third-party approvals or consents are required from any Person for each of Borrowers to avail the
Education Loan Facility and/or create the Collateral Security, as contemplated herein, other than those
already obtained;

o) None of the Borrowers have been in violation of any applicable Anti-Money Laundering Laws including
but not limited to the Prevention of Money Laundering Act, 2002; and

p) Unless otherwise permitted by HDFC Credila, there are no existing or subsisting Encumbrances, claims,
lease, court, claims, clogs, hindrances or other attachments, etc., and other charges of any nature
whatsoever on the Collateral Security which are detrimental to the charge and interests of HDFC Credila
or due to which Borrowers are unable to create proper security in favour of HDFC Credila.

q) The Borrowers have good, clear and marketable right, title, interest and authority with respect to the
security created/ to be created over the Collateral Security by the relevant Borrowers in favor of HDFC
Credila.

5. COVENANTS AND UNDERTAKINGS

a) The Borrower agrees and confirms to not change his/ her Educational Institution and/or Course of Study
as stated in the Borrower’s application and to not make any request for refund of the fees for any reason
whatsoever, without procuring the written consent of HDFC Credila for the same, which HDFC Credila
could at its sole discretion reject without assigning any reason thereof.

b) The Borrowers shall keep HDFC Credila informed in writing within 30 (thirty) days about any change
in their employment details, contact and permanent or temporary residential address(es) employment
addresses, email addresses, phone Numbers, references etc.as well as of instances where they would be
temporarily leaving the territories of India during the Tenure of the Education Loan Facility and in case
the Educational Institution is situated overseas, the Borrower shall also intimate HDFC Credila about
his/ her address abroad where one is presently residing, any office address in case the Borrower manages
to obtain gainful employment during the duration of the Course of Study along with any distinguishing
identification feature such as a Unique Identification or Social Security Number and Driving License
Number (if any) within 15 (fifteen) days of receiving the same from the relevant authorities. Further, the
Borrower shall intimate HDFC Credila of his/ her visits to India in case he/ she visits India temporarily
before the Course of Study is completed as well as about his/her ultimate return to India after completion
of the Course of Study. As soon as the Borrower successfully completes the Course of Study, the
Borrower shall contact HDFC Credila and inform HDFC Credila about his/ her further plans,
programmes and the arrangements to repay the Outstanding Education Loan along with Interest and other
applicable charges to HDFC Credila. In the event, the Borrower remains overseas after completing the
Course of Study and is in employment or procures any employment thereafter, the details of the
employer, employment addresses, email addresses, phone numbers, references etc details thereof in
terms of address of the office, remuneration earned, etc. should be provided by the Borrower to HDFC
Credila in writing within 30 (thirty) days.

c) After completion of the Course of Study, it shall be the duty of each of the Borrowers, from time to time,
to report to HDFC Credila as soon as the Borrower secures employment, giving full particulars of such
employment including its nature and the salary and emoluments attached thereto, within 15 (fifteen) days
of receiving such job offer.

d) Each of the Borrowers hereby agrees and undertakes that the terms and conditions of Schedule A (Pre-
Visa Terms and Conditions) of this Agreement shall be applicable to each of them in the event of delay
and/ or non-receipt of valid visa of the Borrower to enter and study in the country where the Educational
Institution is situated.

eSigned using Aadhaar

eSigned using Aadhaar eSigned using Aadhaar (Leegality.com - IR210AF606)
(Leegality.com - IR210AF606) (Leegality.com - IR210AF606) NEHA AJAY SINGH
NIKITA AJAY SINGH AJAY KUMAR SINGH
Date: Thu Sep 05 11:15:52 IST
Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST 2024
2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

e) Each of the Borrowers hereby covenants and undertakes to HDFC Credila that in the event of inability
of the Borrower proceeding for or attending the Course of Study or if the Borrower or the Educational
Institution after availing the Education Loan Facility decides to postpone the admission even if for some
reason or the Borrower does not travel due to any reason and defers the admit letter to future date which
has been validated by the Educational Institution:

f) the Borrowers shall refund the entire amount disbursed by HDFC Credila along with accrued and unpaid
Interest and all other costs and take the necessary steps and provide/ extend all the necessary support and
co-operation to ensure that HDFC Credila is able to recover the entire proceeds disbursed to the
Educational Institution / Borrower(s) on demand without any demur or delay along with the reasonable
charges as may be demanded by HDFC Credila or any person or entity authorised by HDFC Credila on
its behalf, that may have been incurred in recovering the Outstanding Education Loan;

g) the Borrowers shall undertake to bear any losses arising on account of fluctuations/ volatility in the
foreign exchange conversions without any delay or demur at the point of time of procuring the refund
by either making the payment for the same or compensating HDFC Credila for any shortfall in receipt
of the refund amount; and

h) the Borrowers shall intimate to HDFC Credila within a week from the date of knowledge of occurrence
of inability of the student proceeding for or attending the course, even if for some reason, the student or
the Educational Institution after availing the disbursement decides to postpone the admission.

i) Each of the Borrowers agrees and confirms to immediately repay the Outstanding Education Loan along
with the applicable accrued and unpaid Interest in case the Educational Institution ceases or withdraws
or revokes or cancels the Borrower’s admission for any reason, unless a written agreement involving a
different arrangement will be provided under special circumstances.

j) If the Borrower is a minor at the time of signing of this Agreement and any other Facility Documents,
the Borrower and HDFC Credila inter alia shall enter into ratification cum accession agreement to ratify
and accede to the terms of this Agreement within 30 (thirty) days upon attainment of age of majority and
take all the necessary steps that are required under the Applicable Law to be bound as a borrower under
this Agreement and other Facility Documents. The Co-Borrowers agree and confirm that duty is cast
upon them to ensure that the Borrower enters into ratification cum accession agreement within 30 (thirty)
days from the date of attainment of majority. If the Borrower fails to enter into the ratification cum
accession agreement within 30 (thirty) days from the date of attainment of majority, then the terms of
this Agreement shall be deemed to be applicable to the Borrower.

k) Each of the Borrowers shall ensure that the Collateral Security is kept free and unencumbered at all
points of time till the Outstanding Education Loan is repaid in full by the Borrowers to HDFC Credila
as well as undertake to perform all acts required to keep such Collateral Security the security interest
created in favour of HDFC Credila valid and subsisting during the Tenure of the Education Loan Facility
which would include (but not be limited to) making payment of all applicable Taxes, rates, levies,
premium, installment dues, etc or execute any documents as may be required by HDFC Credila or any
issuing authority for various reasons which may include but not restrict to renewal of the Borrower’s
interest in the Collateral Security or consent the liquidation of the said Collateral Security in favour of
HDFC Credila. In the event the Borrowers fail to pay any such Taxes, rates, premiums, installments as
referred above, HDFC Credila shall be at the liberty (but shall not be obliged) to pay the same and which
shall be reimbursed by the Borrowers without any delay or demur within 7 (seven) days from the date of
receipt of notice of demand from HDFC Credila. Any amounts paid by HDFC Credila in this behalf shall
be deemed to form part of the Outstanding Education Loan.

l) Each of the Borrowers shall permit any officer/ authorised representative of HDFC Credila and/ or
auditors and/ or RBI officials to carry out technical, financial or legal inspection or verification of the
properties, whether offered as Collateral Security or otherwise, at such intervals as decided by HDFC
Credila. Such person(s) shall be offered free access to the records, premises, etc and shall be offered full
co-operation and assistance from the Borrowers at all times.

eSigned using Aadhaar eSigned using Aadhaar eSigned using Aadhaar

(Leegality.com - IR210AF606) (Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

m) In the event of the death of the Co-Borrower(s) (if any) during the subsistence of the liability of the
Borrowers under this Agreement and other Facility Documents, the remaining Borrowers shall offer such
other person(s) fulfilling the conditions and basic eligibility criteria as set out by HDFC Credila, from
time to time, as Co-Borrower(s) as HDFC Credila may agree and upon HDFC Credila agreeing to such
persons enjoining the surviving Borrowers as Co-Borrowers, the said Co-Borrower(s) shall execute all
necessary documents as may be required by HDFC Credila without in any way affecting any liability of
the Borrower/ remaining, existing Co-Borrower(s) under this Agreement and any other Facility
Documents. However, in the event of the death of the Borrower, the Co-Borrower(s) (if any) shall be
solely responsible for the settlement of all amounts payable by the Borrowers to HDFC Credila under
the Education Loan Facility.

n) Each of the Borrowers declares that all payments or re-payments made/ shall be made, as well as any
Collateral Security for the Education Loan Facility is/ shall be through legitimate sources and shall not
constitute an offence of money laundering under the Prevention of Money Laundering Act, 2002 and
any amendments thereof.

o) Each of the Borrowers agrees and confirms to provide full authority to HDFC Credila to communicate
with the Educational Institution through their registered e-mail ids, the details of which are particularly
mentioned in Schedule B (Loan Summary Schedule) of this Agreement requesting the Educational
Institution to release all the information to HDFC Credila from time to time related to the enrollment and
progress of the Borrower at that Educational Institution and all the other relevant details e.g. grades,
mark sheets, expected and actual date of graduation, current address and other contact details on record,
etc. during the full Tenure of the Education Loan Facility.

p) The Borrower shall procure for himself, a life insurance policy and/or a general insurance policy from
such insurance company and for such amount as may be determined by HDFC Credila and shall execute
such deeds and documents and do such other acts and things as HDFC Credila may require in its sole
discretion for assigning such insurance policy of the Borrower in favour of HDFC Credila. In this regard,
the Borrowers undertake to keep such insurance policy alive all the time till the Outstanding Education
Loan is repaid in full to HDFC Credila and shall also pay the premium and other charges to the insurance
company as they fall due and produce the receipts to HDFC Credila whenever required.

q) During the Tenure of the Education Loan Facility, the Borrowers shall not, without HDFC Credila’s
prior written consent, borrow monies from any other bank or financial institution or any other source for
or in relation to the purpose for which the Education Loan Facility is being granted to the Borrowers
under this Agreement. The Borrowers shall not act as surety for anybody or guarantee the repayment of
any other facility or loan;

r) Each of the Borrowers shall ensure compliance of the “Know your Customer”(KYC), Anti-Money
Laundering Laws and such other conditions as may be prescribed by RBI from time to time.

s) Each of the Borrowers undertakes to utilise the proceeds of the Education Loan Facility solely for the
purpose(s) disclosed by the Borrowers in Clause 2.4 (Purpose) of this Agreement and to the complete
satisfaction of HDFC Credila.

t) The Borrowers shall bear all taxes as may be applicable or as may be levied by the Governmental
Authority in relation to the Education Loan Facility until repayment of the Outstanding Education Loan
to HDFC Credila.

u) Each of the Borrowers undertakes to notify HDFC Credila in writing promptly if any of them become
aware of any circumstances arising after the date of this Agreement which would have a material adverse
effect on the financial position of the Borrowers and notify any change in any other information provided
to HDFC Credila at any point of time.

v) Each of the Borrowers agrees and confirms to keep himself/ herself acquainted with the rules and
procedures of HDFC Credila, as applicable at the time of execution of this Agreement and such other
rules as may be enforced by HDFC Credila, in its sole discretion, from time to time.

eSigned using Aadhaar eSigned using Aadhaar

eSigned using Aadhaar (Leegality.com - IR210AF606)
(Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH NEHA AJAY SINGH
AJAY KUMAR SINGH
Date: Tue Sep 03 19:54:07 IST Date: Thu Sep 05 11:15:52 IST
Date: Wed Sep 04 11:43:08 IST 2024
2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

w) The Borrowers shall co-operate with HDFC Credila or any other third party/ agent appointed by HDFC
Credila to enable it to make necessary filings with Central Registry of Securitisation Asset
Reconstruction and Security Interest of India in connection with the creation or modification of Collateral
Security.

x) The Borrowers agree and confirm to bear all the expenses and risks in regard to the foreign exchange
conversion arising by way of fluctuations in the prevailing foreign exchange rates at the time of
conversion of the rupee denominated loan amount and its remittance thereafter, if applicable.

y) The Borrowers agree and confirm to comply with all the requirements under Applicable Law and as
prescribed by RBI or other concerned authorities such as obtaining necessary approval for remittance of
foreign exchange in order to facilitate the availment of the Education Loan Facility in the manner
prescribed by HDFC Credila. HDFC Credila shall be at liberty to refuse to grant the Education Loan
Facility, if the Borrowers fail to or are unable to comply with foreign exchange regulations or other
regulations as applicable or if the Borrowers refuse to adhere to the directions given by HDFC Credila
in this regard or for any reason whatsoever or if HDFC Credila is unable to comply with such
requirements on its part on account of any legal impediments.

z) The Borrowers agree and confirm to not sell, create Encumbrance, exchange, gift, dispose off or transfer
the Collateral Security until the Outstanding Education Loan along with Interest and all other applicable
costs, charges and expenses are repaid in full, to the satisfaction of HDFC Credila.

aa) The Borrowers shall make and keep accurate books and other records, which together adequately reflect
truly and fairly the financial condition of the Borrowers.

bb) The Borrowers agree and confirm to cooperate with HDFC Credila for the purpose of duly recording and
registering the creation of the Collateral Security in favour of HDFC Credila with the Central Registry
of Securitisation Asset Reconstruction and Security Interest of India as required by relevant circulars
issued by RBI from time to time.

cc) Each of the Borrowers agrees to abide by the amended Applicable Law including modifications and
amendments made in the guidelines, code of conduct and any other policies of HDFC Credila pursuant
to any revisions or amendments in the Applicable Law.

6. ASSIGNMENT OF RECEIVABLES/ CONSTITUTED ATTORNEY

a) At HDFC Credila’s calling, the Borrowers shall take all steps that would be required for assigning such
portion of his/her/their monthly income, whether of a recurring nature or not, to be derived by way of
employment, business or any other kind of income, as security in favour of HDFC Credila for due
repayment of all the amounts payable by the Borrowers to HDFC Credila in respect of the Education
Loan Facility. For the purpose of assigning such future income to HDFC Credila, the Borrowers
undertake to execute necessary deed of assignment and other documents in the form and manner as may
be necessary and duly prescribed by HDFC Credila in its sole discretion.

b) The Borrowers hereby irrevocably appoint HDFC Credila to be attorneys for the name of the Borrowers
(whether itself or through their agents and nominees) and as such attorneys to do all such acts, deeds and
things and to execute all such documents, transfers, assignments as may be required by HDFC Credila
from time to time.

7. EVENTS OF DEFAULT

The occurrence of any of the following events, or events similar thereto, shall each by itself and in conjunction
with other events, constitute an event of default (“Events of Default”):

a) The Borrowers failing to pay or reimburse any sum whether for Pre-Monthly Installment Interest or any
Monthly Installment or part thereof, due and payable to HDFC Credila under the provisions of this
Agreement within the stipulated time period.

eSigned using Aadhaar eSigned using Aadhaar eSigned using Aadhaar

(Leegality.com - IR210AF606) (Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

b) The Borrowers committing breach of or refusing to comply with any of the terms and conditions and
covenants contained in this Agreement or any other Facility Documents to which it is a party.

c) The Borrowers have made any misrepresentation or suppression of information to HDFC Credila
including but not limited for the purpose of obtaining the Education Loan Facility or have committed
any fraud on HDFC Credila of any nature whatsoever, including but not limited to at the time of making
an application for availing the Education Loan Facility or at any time before or after the execution of
this Agreement.

d) There occurs any event or situation or any material adverse change, as determined solely by HDFC
Credila, in the business or financial or any other condition or operations or prospects of the Borrower
and/ or the Co-Borrowers, which in the sole opinion of HDFC Credila is prejudicial to the interests of
HDFC Credila or there occurs any event or situation, which in the sole opinion of HDFC Credila is likely
to materially affect the financial condition of the Borrower and/ or the Co-Borrower(s), and/ or its/ their
ability to perform all or any of its obligations under this Agreement and/or under the Facility Documents
and/ or otherwise in respect of the Education Loan Facility.

e) The Borrower and/ or the Co-Borrower(s), as the case may be, has/ have been declared bankrupt or
insolvent or is/ are subjected to bankruptcy or insolvency proceedings or if a receiver is appointed or
attachment is levied for or upon any assets of the Borrower and/ or the Co-Borrowers, as the case may
be.

f) Proceedings of any Governmental Authority, court of law, or professional body or association or any
other authority, for any misconduct, breach/ violation of any Applicable Law or regulations or code of
conduct etc. are taken/ initiated against the Borrower and/or the Co-Borrowers.

g) The Borrower and/or the Co-Borrowers default on any terms and conditions of any other loan or facility
provided by HDFC Credila or any other bank or financial institution to the defaulting person.

h) The Borrowers fail to furnish any information or documents or refuse or fail to comply with any
requirement that may be required/ imposed by HDFC Credila from time to time and within a reasonable
period of time as decided and determined solely by HDFC Credila.

i) There exists any other circumstance or event, which in the opinion of the HDFC Credila, jeopardizes
HDFC Credila’s interest in respect of the Borrowers’ obligations to comply with the terms and conditions
of this Agreement including the repayment of amounts payable by the Borrowers to HDFC Credila under
this Agreement and under any other agreement entered or to be entered into by HDFC Credila in relation
to the Education Loan Facility.

j) The Borrower’s and/ or any of the Co-Borrower’s name is published in the willful defaulters’ list as
published by RBI from time to time.

k) On the death of the Co-Borrowers, if the remaining Borrowers cannot bring in another person deemed
suitable by HDFC Credila to enter into agreement as a Co-Borrower(s) as mentioned in Clause 5 (i)
(Covenants and Undertakings) above.

l) On the death of the Borrower.

m) The Borrower has discontinued his/ her Course of Study, for any reason, or not found suitable for the
Course of Study by the Educational Institution or even if the progress reports and attendance reports of
the Borrower as issued by the Educational Institution are deemed unsatisfactory by HDFC Credila.

n) One or more events, conditions or circumstances (including any change in Applicable Law) occurs or
exists which in the sole opinion of HDFC Credila, could have a Material Adverse Effect.

o) Default in creation of security interest over Collateral Security by the Borrowers to the satisfaction of
HDFC Credila within the period stipulated in the Facility Documents or such other period as may be
extended by HDFC Credila.

eSigned using Aadhaar eSigned using Aadhaar eSigned using Aadhaar

(Leegality.com - IR210AF606) (Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

p) If the Collateral Security provided to HDFC Credila for securing the Education Loan Facility,
depreciates in value to such an extent that in the opinion of HDFC Credila, any additional security to the
satisfaction of HDFC Credila should be given and such additional security is not given in-spite of being
called upon to do so, within the limit prescribed by HDFC Credila.

q) Any other specific condition, event, circumstance, happening or cause, etc. which is construed by HDFC
Credila as material to construe or deem as an “Event of Default”.

8. CONSEQUENCES OF EVENT OF DEFAULT

At any time after the occurrence of an Event of Default as mentioned aforesaid in Clause 7 (Events of Default),
then, notwithstanding anything to the contrary contained herein:

a) HDFC Credila shall be entitled to exercise any right, power or remedy permitted to it by Applicable
Law, including though not restricted to, by arbitration, in equity, or by action at law, or both, or
otherwise, whether for specific performance of any covenant, condition or term contained in this
Agreement and other Facility Documents or for an injunction against any violation of any of the terms
and conditions of this Agreement and other Facility Documents, or in aid of the exercise of any power
or right granted in this Agreement and other Facility Documents; and/or

b) HDFC Credila shall be entitled, at its absolute discretion, to withhold and refrain from making further
disbursements under the Education Loan Facility and/or to declare the Outstanding Education Loan and
all Interest accrued thereon and all costs, charges, expenses and other sums outstanding, due and payable
by the Borrowers under this Agreement as well as under any other agreement executed by the Borrowers
with HDFC Credila in relation to the Education Loan Facility as immediately due and payable to HDFC
Credila, upon which the Borrowers shall immediately and without delay, demur or protest make payment
of all applicable amounts in accordance with the terms of the notice as shall have been issued to the
Borrowers by HDFC Credila demanding such payment; and/or

c) In the event that the Outstanding Education Loan under this Agreement and under any other agreement
entered or to be entered into by HDFC Credila in relation to the Education Loan Facility are not paid
within the stipulated time under the demand made by HDFC Credila as per the provisions of Clause 7
(i) (Event of Default) above, HDFC Credila shall have an absolute lien and a right to set-off all monies
and accounts, received as advance installment, if any, whether or not due standing in the Borrower’s/
Co-Borrower’s name with HDFC Credila, in the manner specified under this Agreement against the
amounts due and payable to HDFC Credila and HDFC Credila shall have the right to proceed against
the Borrowers independent of any such right of lien/ set-off, without prejudice to any civil / criminal
action being initiated against the Borrowers jointly or severally;

d) The Borrowers hereby agree and undertake to assign as all and singular of his/her/ their right, title and
interest in all and every sum/income/monies or claims for the aggregate value for an amount as stated in
the Schedule B (Loan Summary Schedule) and Schedule C (Repayment Schedule) respectively, together
with interest as computed and charged on the said amount by HDFC Credila form time to time in future
for recovery by HDFC Credila in satisfaction of dues payable to HDFC Credila by the Co-Borrowers,
together with the Borrower, by way of salary, professional income, business income, scholarship, grant
future rent, book debt or any other income whether from a recurring source or not; so however that his/
her assignment shall be treated and construed as a first charge on such income, monies, receipts or claims
as may be earned received or granted to the Borrowers. Borrowers also undertake to inform HDFC
Credila of such earnings or accrual as may be due in future together with the name and address of the
employer, grantor, debtor of the Borrowers, as also the address with all details of the said Borrower in
future;

e) Borrowers hereby authorize HDFC Credila to serve notices, demands, claims and such communication
to employers of Borrowers and instruct and mandate those employers to deduct salaries or accumulated
funds or other sources etc. of those Borrowers towards paying demanded dues and amount payable to
HDFC Credila;

f) HDFC Credila shall be entitled to exercise forthwith all or any rights, powers or remedies with respect
to enforcement of the security created over the Collateral Security without any restriction whatsoever
including but not limited to the power to take possession of the Collateral Security, sell by public auction
or private contract or otherwise sell, assign or liquidate the Collateral Security or deal in any manner
with all or any part of such Collateral Security;

eSigned using Aadhaar eSigned using Aadhaar

eSigned using Aadhaar (Leegality.com - IR210AF606)
(Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH NEHA AJAY SINGH
AJAY KUMAR SINGH
Date: Tue Sep 03 19:54:07 IST Date: Thu Sep 05 11:15:52 IST
Date: Wed Sep 04 11:43:08 IST 2024
2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

g) HDFC Credila shall be entitled to enter upon and take possession of the Collateral Security and/or
transfer all or part of the Collateral Security by way of lease or leave and license or sale or otherwise;

h) HDFC Credila shall be entitled to make public name(s)(s) of the Borrower and/ or Co-Borrower(s) and/
or disclose all or any information and data relating to the Borrower and/ or Co-Borrower(s) to CIBIL
and/ or any other agencies authorized by the RBI in this regard. HDFC Credila may, at its sole discretion,
report the default by the Borrower and/ or Co-Borrower(s) to the appropriate entity, either in India or
overseas as applicable, for further action;

i) To take any other actions under Applicable Law or equity or exercise any other right or remedy under
Applicable Law (including Securitisation and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002); and/ or

j) To take such actions, as HDFC Credila may deem fit, for the purpose of recovery of outstanding
Education Loan and/or protection of Collateral Security.

9. STATEMENT OF ACCOUNT

The statement of account as per the records maintained by HDFC Credila shall be conclusive proof of the
amounts outstanding and due by the Borrowers to HDFC Credila. A statement of account generated by HDFC
Credila stating the amount due at any particular time shall be conclusive evidence as against the Borrowers.
However, nothing contained herein shall prejudice HDFC Credila’s interest or rights to repayment of its dues, if
there is any clerical or arithmetical error in calculations of Interest due and payable by the Borrowers. Provided
that HDFC Credila may issue any certificate/extract of the statement of account in respect of amounts paid by
Borrowers, only if the Borrowers have paid all amounts and complied with all terms of this Agreement.

10. EVIDENCE OF DEBT

HDFC Credila may maintain, in accordance with its usual practice, accounts evidencing the amount from time
to time lent by HDFC Credila and the Outstanding Education Loan under this Agreement. In any legal action or
proceedings arising out of or in connection with this Agreement, the entries made in the accounts maintained by
HDFC Credila shall be conclusive evidence of the existence of Outstanding Education Loan and amount of
obligation of the Borrowers as therein recorded.

11. DISCLOSURE

a) The Borrowers agree, accept and consent for the disclosure and sharing by HDFC Credila of all or any
information and data relating to the Borrowers including the Personal Data of the Borrowers, the Education
Loan Facility, the Education Loan Account, and this Agreement, including but not limited to information
relating to default, if any, committed by the Borrowers in the discharge of their obligations, as HDFC Credila
may deem appropriate or bound to disclose and furnish to (i) RBI and/or to CIBIL or any other credit
information bureau designated for this purpose by the RBI and/or (ii) Educational Institution and/or to any
other financial institution and/or to any other agency authorized in this behalf under Applicable Law for time
being in force or to such other authority as HDFC Credila may deem appropriate in its sole discretion and/or
(iii) any actual or potential assignee(s) or novatee(s) or transferee(s) of any rights and obligations of HDFC
Credila or other participants in any of its rights and/or obligations under or relating to the Education Loan
or any further security for any purposes connected with the proposed assignment or transfer or any potential
or actual lender(s) of HDFC Credila. The Borrowers specifically waive the privilege of privacy, defamation,
confidentiality and secrecy.

b) The Borrowers:

i) accept that the RBI or CIBIL or any other credit information bureau and any other statutory,
regulatory or supervisory authority so authorized under Applicable Law, may use, process,
disseminate any information and data disclosed by HDFC Credila in relation to the Education
Loan Facility, in such manner as deemed fit by such authorities under similar circumstances;
and

ii) shall not hold HDFC Credila responsible or liable in this regard.

c) The Borrowers agree that in case any default is committed in the performance of obligations under Facility
Document, HDFC Credila and/or RBI or any other agency will have an unqualified right to disclose or
publish the details of Borrowers as defaulter in such manner and through such medium as HDFC Credila or
RBI may deem fit.

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

12. DATA PROTECTION AND INFORMATION SECURITY

a) The Parties shall comply with all applicable Data Protection Legislation (as defined below).

b) For the purpose of this Agreement, “Data Protection Legislation” means the applicable legislation and
regulations relating to the protection of Personal Data (as defined below) and processing, storage, usage,
collection and/or application of Personal Data or privacy of an individual including (without limitation):

i. The Information Technology Act, 2000 (as amended from time to time), including the
Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal
Data or Information) Rules, 2011 (“Privacy Rules”) and any other applicable rules framed
thereunder;
ii. All other applicable industry guidelines (whether statutory or non-statutory) or codes of conduct
relating to the protection of Personal Data and processing, storage, usage, collection and/or
application of Personal Data or privacy of an individual issued by any regulator to any of the
Parties;
iii. Any other Applicable Laws solely relating to the protection of Personal Data and processing,
storage, usage, collection and/or application of Personal Data or privacy of an individual.

c) Each of the Borrowers hereby warrants that the Personal Data provided by each of them is accurate, up-
to-date, and true.

d) Each of the Borrowers agrees and authorizes HDFC Credila and its affiliates and their officials and
authorised representatives, to collect the Personal Data for any purpose related and connected to the
terms of this Agreement or as maybe specified by HDFC Credila from time to time.

e) Each of the Borrowers agrees and confirms that HDFC Credila is entitled to store, retain or maintain the
record of Personal Data and the nature of transaction as per the Applicable Law including Prevention of
Money Laundering Act, 2002.

f) Each of the Borrowers agrees and confirms to provide accurate personal information and to update
HDFC Credila on the e-mail id provided on HDFC Credila’s official website (upon any change in the
details pertaining to personal information of the Borrowers.

g) Each of the Borrowers further acknowledges, agrees and understands that HDFC Credila may use, share,
process, disclose or transfer his/her Personal Data as per the Applicable Law and/ or the terms of the
code of conduct and/or as maybe specified by HDFC Credila from time to time.

h) The Borrowers agree and confirm that the details of Personal Data that have been requested by the
Borrowers to be removed, may be retained by HDFC Credila in its files and databases in order to use it
in some circumstances including resolving disputes, troubleshoot problems and to enforce HDFC
Credila’s terms and conditions in connection with the Outstanding Education Loan.

13. TERMINATION

Notwithstanding anything to the contrary contained in this Agreement, HDFC Credila may at its sole and
absolute discretion at any time, terminate, cancel or withdraw the Education Loan Facility or any part thereof
without any liability, whereupon the Outstanding Education Loan (including Interest thereon and all other costs,
charges, expenses including loss of profit incurred by HDFC Credila in the Event of Default and other monies
outstanding) shall become due and payable to HDFC Credila immediately and forthwith upon a demand being
made in this regard by HDFC Credila.

14. APPLICABLE LAW

This Agreement shall be subject to, governed by, and construed in accordance with the Applicable Law of the
Republic of India.

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

15. ARBITRATION

a) All the disputes, differences between the Parties shall be referred for arbitration to a sole arbitrator to be
appointed by HDFC Credila. The arbitration shall be conducted in accordance with the provisions of the
Arbitration and Conciliation Act, 1996 as amended from time to time. The venue of arbitration
proceedings shall be Mumbai or any other place within the territory of India that HDFC Credila may
deem convenient for the purpose of administering dispute in relation to this Agreement and any other
Facility Documents, and the Borrowers hereby agree to abide by the choice of HDFC Credila in relation
to place of arbitration. The language of the arbitration proceedings shall be English.

b) Alternatively and without prejudice to the rights and remedies of HDFC Credila mentioned herein,
HDFC Credila shall have sole discretion and/ or exclusive rights to invoke any other remedies against
the Borrowers under Applicable Law for any events of default and/or breach of any term or condition,
covenant and undertakings mentioned in this Agreement.

16. JURISDICTION

a) Without prejudice to the above, the courts and tribunals of Mumbai shall have exclusive jurisdiction to
settle any disputes, actions, claims arising out of or in connection with this Agreement (including a
dispute regarding the existence, validity or termination of this Agreement) (“Dispute”).

b) The Borrowers agree that the courts and tribunals of Mumbai are appropriate and convenient courts and
tribunals to settle Disputes and accordingly the Borrowers shall not argue to the contrary. The Borrowers
(i) irrevocably waive (A) any objection now or in future, to the laying of the venue of any proceedings
in the courts and tribunals in Mumbai, and (B) any claim that any such proceedings have been brought
in an inconvenient forum, and (ii) irrevocably agrees that a judgment in any proceedings brought in the
courts and tribunals in Mumbai shall be conclusive and binding upon it and may be enforced in the courts
and tribunals of any other jurisdiction (subject to the laws of such jurisdiction) by a suit upon such
judgment, a certified copy of which shall be conclusive evidence of such judgment, or in any other
manner provided by law.

c) This Clause 16 (Jurisdiction) is for the benefit of the HDFC Credila only. As a result, HDFC Credila
shall not be prevented from taking proceedings relating to a Dispute in any other courts and tribunals
with jurisdiction at its discretion and convenience including jurisdictions where the Borrowers are then
residing and/or employed and/or at the place of occurrence of Event of Default and/or any at place where
cause of action arose between the Parties out of this Agreement. To the extent allowed by Applicable
Law, HDFC Credila may take concurrent proceedings in any number of jurisdictions.

d) For the avoidance of doubt, HDFC Credila shall be entitled to enforce its rights under this Agreement
including, its rights in relation to the Outstanding Education Loan and the Collateral Security and to seek
any and all remedies under the Applicable Law prevailing in India from time to time including, without
limitation, the remedies under the Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002 or Recovery of Debts and Bankruptcy Act, 1993.

e) The Borrowers irrevocably agree that, should HDFC Credila take any proceedings anywhere (whether
for an injunction, specific performance, damages or otherwise in connection with any this Agreement),
no immunity (to the extent that it may at any time exist, whether on the grounds of sovereignty or
otherwise) from those proceedings, from attachment (whether in aid of execution, before judgment or
otherwise) of its assets or from execution of judgment shall be claimed by it or with respect to its assets,
any such immunity being irrevocably waived. The Borrowers irrevocably agree that they and their assets
are, and shall be, subject to such proceedings, attachment or execution in respect of its obligations under
this Agreement.

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

17. MISCELLANEOUS

a. Notice: Every notice, request, demand or other communication under this Agreement shall be in writing
and shall be delivered either by hand, courier or by registered post or by telegram or electronic mail or
Short Messaging Service (SMS), or any other modes of communication inclusive of but not limited to
electronic media, social media etc. and shall be deemed to have been received when delivered by hand,
at the time so delivered if during business hours on a business day for the recipient, and if given by
registered post acknowledgement due, within 3 days after it has been put into post, and within 24 hours
if sent via e-mail or SMS or any other modes of communication inclusive of but not limited to electronic
media, social media etc. All notices shall be sent to the Borrowers at their address known/ provided/
agreed in Schedule B (Loan Summary Schedule) of this Agreement and notices shall be sent by the
Borrowers to HDFC Credila at its registered office address mentioned in this Agreement, or to such
other address as either Party has designated or may in writing hereafter notify to the other Party.
b. Cost: The Borrowers shall bear, pay and reimburse to HDFC Credila such costs (including stamp duty
and levies thereon), registration charges, all charges levied by the Central Registry of Securitization
Asset Reconstruction and Security Interest of India, as well as all other statutory/ regulatory charges
levies/ taxes as may be applicable to the loan, security, recovery charges, legal charges and expenses
incurred by HDFC Credila in connection with this Agreement or any other agreement, document or other
writings executed pursuant to the provisions of this Agreement, at any time during the Tenure of this
Agreement and for enforcing its rights or for recovery of the Outstanding Education Loan and all other
amounts payable to HDFC Credila under this Agreement.

c. Indemnity: The Borrowers shall, without prejudice to any other right of HDFC Credila, indemnify and
agree to keep indemnified and hold and keep, saved and harmless HDFC Credila against, any losses,
costs, charges or expenses or outgoings which HDFC Credila shall certify as sustained or suffered or
incurred by HDFC Credila as a consequence of occurrence of an Event of Default, or laches or acts of
omission and/ or commission on the part of the Borrowers, or otherwise on account of the Education
Loan Facility or breach of any of the terms and conditions of any of the Facility Documents or any other
agreements entered or to be entered into by HDFC Credila in relation to the Education Loan Facility.
Upon HDFC Credila invoking this indemnity, Borrowers shall forthwith and with delay, demure or
protest pay and reimburse to HDFC Credila all such amounts.

d. Set Off And Lien: Without prejudice to any rights of HDFC Credila, HDFC Credila shall have a
paramount lien and right of set-off for all amounts payable by the Borrowers to HDFC Credila under
this Agreement against any un-appropriated sum of the Borrower and/ or Co-Borrowers, whether in the
nature of an advance installment or otherwise as received in the normal course of business of lending,
which is presently lying in any account(s) of the Borrower and/ or Co-Borrower(s) with HDFC Credila
and the Borrower and/ or Co-Borrower(s) authorize HDFC Credila to debit the account(s) of the
Borrower and/ or Co-Borrower(s) with HDFC Credila or to apply any credit balance to which the
Borrower and/ or Co-Borrower(s) is entitled on any account of the Borrower and/ or Co-Borrower(s)
with HDFC Credila in satisfaction of any sum payable by the Borrowers to HDFC Credila under this
Agreement or under any other agreement entered or to be entered into by HDFC Credila in relation to
the Education Loan Facility.

e. Assignment of Debt: The Borrowers expressly recognize and accept that the Borrowers shall not assign
their rights, duties or obligations under this Agreement except with prior written consent of HDFC
Credila and HDFC Credila may at its sole discretion reject or accept such request by the Borrowers.
HDFC Credila shall be absolutely entitled to, and has full power and authority to sell, assign or otherwise
transfer in any manner whatsoever, in whole or in part, and in such manner and on such terms as HDFC
Credila may decide (including if deemed appropriate by HDFC Credila reserving a right to HDFC
Credila to retain its power to proceed against the Borrowers on behalf of the purchaser, assignee or
transferee) any or all amounts outstanding and due from the Borrowers towards HDFC Credila under
the terms of this Agreement and other Facility Documents to any third party of HDFC Credila’s choice
without any further reference or intimation or notice to the Borrowers, and without requiring/seeking
any consent of the Borrowers. Any such action and any such sale, assignment or transfer shall bind the
Borrowers to accept such third party as creditor exclusively or as a joint creditor with HDFC Credila or
any other person, as the case may be.

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

f. Service Provider: It is agreed by the Borrowers that without prejudice to any rights of HDFC Credila,
all acts/ steps as are necessary for HDFC Credila to take in order to monitor or review the Outstanding
Education Loan and its utilization and/ or the obligations of the Borrowers and/ or the Borrowers’
compliance with the terms and conditions hereof and/ or to recover amounts due to HDFC Credila under
this Agreement and under any Facility Document and any other agreement entered or to be entered into
by HDFC Credila in relation to the Education Loan Facility or any part or portion thereof, shall or may
be carried out by and/or through such other person (including a company or body corporate) as may,
from time to time, be appointed by HDFC Credila in respect thereof and that HDFC Credila will at all
times be entitled to share with any such other person/entity that may thus be appointed by HDFC Credila,
all information, documents, statements of accounts and other data of whatsoever nature pertaining to the
Borrowers and/ or the Education Loan Facility. Further, the Borrowers expressly recognize and accept
that HDFC Credila shall, without prejudice to its rights to perform such activities either itself or through
its officers or servants, be absolutely entitled and have full power and authority to appoint one or more
third parties of HDFC Credila’s choice and to transfer or delegate to such third parties, the right and
authority to collect on behalf of HDFC Credila, all unpaid amounts under this Agreement and under any
other agreement entered or to be entered into by HDFC Credila in relation to the Education Loan Facility
and to perform and execute all acts, deeds, matters and things connected therewith or incidental thereto
including attending the office or residence of the Borrowers, receiving the amounts due and generally
performing all lawful acts as the third party may consider appropriate for such purposes.

g. Waiver: No delay or omission to exercise any right, power or remedy accruing to HDFC Credila upon
any breach or default of the Borrowers under this Agreement shall impair any such right, power or
remedy of HDFC Credila nor shall it be construed to be a waiver of any such breach or default or an
acquiescence therein nor shall any waiver of any single breach or default be deemed a waiver of any
other breach or default. The rights and remedies provided to HDFC Credila in the Agreement are
cumulative and not exclusive of any rights or remedies provided by law.

h. Counterpart: This Agreement may be signed in counterparts as necessary, each of which shall be
deemed to be an original, and all of which together shall constitute one and the same instrument.

i. Severability: Any provision of this Agreement, which is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective only to the extent of prohibition or un-enforceability but that
shall not invalidate the remaining provisions of this Agreement nor affect such provision in any other
jurisdiction.

j. Force Majeure: HDFC Credila shall be relieved from the performance and discharge of any duty or
obligation owed to the Borrowers under this Agreement or otherwise to the extent to which the
performance or discharge of such duty or obligation is prevented, frustrated or impeded as a consequence
of war, invasion, act of foreign enemy, hostility, civil war, rebellion, revolution, insurrection or military
or usurped power or by any statute, rule, regulation, order, act of any Governmental Authority,
department, council or other authority or from strikes, lockout or any other causes (whether or not of a
like nature) beyond HDFC Credila’s control.

k. Acceptance:

a) The Borrowers confirm that entire Agreement has been filled in their presence and they have read
and understood the entire Agreement and shall be bound by all the terms and conditions including
the details set out in Schedule B (Loan Summary Schedule).

b) In the event any of the Borrowers cannot read English language, the Borrowers confirm that the
contents of this Agreement including the details set out in Schedule B (Loan Summary Schedule),
have been read over, explained and translated in vernacular language or any other language known
to the Borrowers. The Borrowers confirm that they have understood the contents of this Agreement
and have affixed their signatures after understanding and verifying the contents of this Agreement.

The Parties agree that this Agreement shall be concluded and become legally binding on the date and at the place
where the authorized officer of HDFC Credila signs this Agreement. It shall be in force till all the monies due
and payable to HDFC Credila under this Agreement are fully paid.

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006
SCHEDULE A

Pre-Visa Terms and Conditions

1. Covenants and Undertakings

Each of the Borrowers hereby covenants and undertakes to HDFC Credila that in the event of delay and/ or non-receipt of valid visa of the Borrower:

(a) The Borrowers shall refund the entire amount disbursed by HDFC Credila along with accured and unpaid Interest and all other costs and charges and take
the necessary steps and extend all the necessary support and co-operation to ensure that HDFC Credila or any person or entity authorised by HDFC Credila
on its behalf is able to recover the entire proceeds disbursed to the Educational Institution/ Borrower(s) on demand without any demur or delay along with
the applicable costs and charges that may have been incurred in recovering the said amount; and

(b) The Borrowers shall bear any losses arising on account of fluctuations/ volatility in the foreign exchange conversions without any delay or demur at the
point of time of procuring the refund by either making the payment for the same or compensating HDFC Credila for any shortfall in receipt of the refund
amount.

2. Information Covenants
(a) The Borrowers hereby covenant with HDFC Credila that the Borrowers shall immediately furnish HDFC Credila with the copy of the receipt of the fees as
received from the Educational Institution acknowledging that the fees of the Borrower have been received by the Educational Institution for the Borrower
to undertake the Course of Study; and
(b) The Borrowers further covenant with HDFC Credila that the Borrowers shall immediately furnish HDFC Credila with the copy of the visa of the Borrower
upon receipt from the concerned office of immigration authorities.

IN WITNESS WHEREOF the Parties have executed these presents on the date of execution of this Agreement.

Signed and delivered by within-named Borrower,

eSigned using Aadhaar
Miss. Nikita Ajay Singh (Leegality.com - IR210AF606)
NIKITA AJAY SINGH
Date: Tue Sep 03 19:54:07 IST
2024

Borrower Signature

Signed and delivered by within-named Co-Borrower- 1 (If any) eSigned using Aadhaar
(Leegality.com - IR210AF606)
Mr. Ajay Kumar Singh AJAY KUMAR SINGH
Date: Wed Sep 04 11:43:08 IST
2024

Co-Borrower-1 Signature

Signed and delivered by within-named Co-Borrower- 2 (If any) eSigned using Aadhaar
(Leegality.com - IR210AF606)
Miss. Neha Ajay Singh NEHA AJAY SINGH
Date: Thu Sep 05 11:15:52 IST
2024

Co-Borrower-2 Signature

Signed and delivered by within-named Co-Borrower- 3 (If any)

Co-Borrower-3 Signature

Signed and delivered by HDFC Credila Financial Services Limited by the hand of Mr./Ms.

Authorised Signtory
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

Schedule D
DEMAND PROMISSORY NOTE

ON DEMAND, we, (i) Miss. Nikita Ajay Singh and (ii) Mr. Ajay Kumar Singh and (iii) Miss. Neha Ajay Singh and ("Borrowers"), jointly and
severally, unconditionally and irrevocably promise to pay to, or to the order of HDFC Credila Financial Services Limited ("HDFC Credila"), the sum of
Rupees 30,00,000.00 only along with Interest payable in accordance to the education loan agreement entered into by HDFC Credila Financial Services
Limited and the Borrowers on 2024-09-02 ("Education Loan Agreement"), Delayed Payment Charges, if applicable and any other dues and charges
payable by the Borrowers to HDFC Credila including all costs, expenses and other amounts payable in accordance with the terms of the Education Loan
Agreement, till the date of payment in full of the aforementioned amounts, for value is received.

Capitalised terms used but not defined herein shall have the meaning set forth in the Education Loan Agreement.

This Demand Promissory Note shall be governed by and construed in accordance with Applicable Laws.

30,00,000.00/- ( Rupees Thirty Lakh Only.)

Name of the Borrower

Miss. Nikita Ajay Singh

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NIKITA AJAY SINGH
Date: Tue Sep 03 19:54:07 IST
2024

Borrower

Name of the Co-Borrower 1 (if any)

Mr. Ajay Kumar Singh

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(Leegality.com - IR210AF606)
AJAY KUMAR SINGH
Date: Wed Sep 04 11:43:08 IST
2024

Co-Borrower

Name of the Co-Borrower 2 (if any)

Miss. Neha Ajay Singh

eSigned using Aadhaar
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NEHA AJAY SINGH
Date: Thu Sep 05 11:15:52 IST
2024

Additional Co-Borrower

Name of the Co-Borrower 3 (if any)

Additional Co-Borrower
 Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

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NEHA AJAY SINGH
eSigned using Aadhaar
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(Leegality.com - IR210AF606) Date: Thu Sep 05 11:15:52 IST
AJAY KUMAR SINGH 2024
NIKITA AJAY SINGH
Date: Wed Sep 04 11:43:08 IST
Date: Tue Sep 03 19:54:07 IST 2024
2024
 Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

02 September 2024

To,
Nikita Ajay Singh,
503 A Wing Vraj Bhoomi Co Op Hsg Brahmand Kolshet Patlipada Thane West Sandozbaugh, Thane, Maharashtra, 400607
Email ID: [email protected],
Mobile No.: +91-9870059680,

Subject: Sanction Letter (Education Loan Application Number A2405070039)

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 Nikita Ajay Singh

Co-borrower(s) Ajay Kumar Singh, Neha Ajay Singh
Country of Study USA
Course PP-DPT:POST PROFESSIONAL DOCTOR OF PHYSICAL THERAPY in PHYSICAL THERAPY
University LOMA LINDA UNIVERSITY
Sanctioned Loan Amount INR 30,00,000.00 (Thirty Lakh Rupees equivalent to USD 35,761.12 approx. at exchange rate** of USD 1 = INR 83.89)

Rate of Interest 11.75% p.a. Floating rate***

Origination Fees (Non- INR 30,000.00/- (inclusive of all taxes)
refundable)
Repayment Tenure 168 monthly installments
1 - 30 months: PMII (Pre-Equated Monthly Installments) of INR 5,000.00 per month
31 - 168 months: MI (Equated Monthly Installment) of INR 50,923.00 per month
Loan Type UNSECURED
Date of Sanction 23 May 2024
Validity of this Offer This Sanction letter is valid till 22 May 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.

eSigned using Aadhaar

eSigned using Aadhaar (Leegality.com - IR210AF606)
eSigned using Aadhaar NEHA AJAY SINGH
(Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH AJAY KUMAR SINGH
Date: Thu Sep 05 11:15:52 IST
2024
Date: Tue Sep 03 19:54:07 ISTDate: Wed Sep 04 11:43:08 IST
2024 2024
 Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

Education Loan Application No : A2405070039

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: Ajay Kumar Singh, UNION BANK OF INDIA, , Kishore Ngar Thane, Thane, AC#:
350102010276168
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

eSigned using Aadhaar eSigned using Aadhaar

eSigned using Aadhaar (Leegality.com - IR210AF606)
(Leegality.com - IR210AF606)
(Leegality.com - IR210AF606)
AJAY KUMAR SINGH NEHA AJAY SINGH
NIKITA AJAY SINGH
Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
Date: Tue Sep 03 19:54:07 IST 2024
2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

This page has been intentionally kept blank.

Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

Indicative Amortisation Schedule

The below amortisation schedule is prepared based on the terms of the loan as on 02/09/2024 assuming disbursement of the entire sanction loan amount
for customer's reference. The actual amortisation schedule will be finalized post completion of loan documentation and disbursement of loan amount
based on the final terms.

Application Number A2405070039

Applicant Name NIKITA SINGH

Loan Sanction Amount (Rs.) 30,00,000.00

Loan Sanction Date 23/05/2024

Annual Interest Rate 11.75% p.a

Total Loan Tenure 168 months

Type of Product Selected Part Interest Payment Loan

Loan Details

Tenure 168 months Rate of Interest 11.75%

Study Period 18 months Grace Period 12 months

EMI Period 138 months Part Monthly Interest (Rs.) 5000

Payment Due (Rs.) Interest Accrued

Sr.No. EMI Date (Rs.) Interest (Rs.) Principal (Rs.) Total (Rs.)
(Rs.)
1 11/09/2024 5,000.00 9,790.00 0.00 4,790.00 30,04,790.00

2 11/10/2024 5,000.00 29,422.00 0.00 29,212.00 30,29,212.00

3 11/11/2024 5,000.00 29,661.00 0.00 53,873.00 30,53,873.00

4 11/12/2024 5,000.00 29,903.00 0.00 78,776.00 30,78,776.00

5 11/01/2025 5,000.00 30,146.00 0.00 1,03,922.00 31,03,922.00

6 11/02/2025 5,000.00 30,393.00 0.00 1,29,315.00 31,29,315.00

7 11/03/2025 5,000.00 30,641.00 0.00 1,54,956.00 31,54,956.00

8 11/04/2025 5,000.00 30,892.00 0.00 1,80,848.00 31,80,848.00

9 11/05/2025 5,000.00 31,146.00 0.00 2,06,994.00 32,06,994.00

10 11/06/2025 5,000.00 31,402.00 0.00 2,33,396.00 32,33,396.00

11 11/07/2025 5,000.00 31,660.00 0.00 2,60,056.00 32,60,056.00

12 11/08/2025 5,000.00 31,921.00 0.00 2,86,977.00 32,86,977.00

13 11/09/2025 5,000.00 32,185.00 0.00 3,14,162.00 33,14,162.00

14 11/10/2025 5,000.00 32,451.00 0.00 3,41,613.00 33,41,613.00

15 11/11/2025 5,000.00 32,720.00 0.00 3,69,333.00 33,69,333.00

16 11/12/2025 5,000.00 32,991.00 0.00 3,97,324.00 33,97,324.00

17 11/01/2026 5,000.00 33,265.00 0.00 4,25,589.00 34,25,589.00

18 11/02/2026 5,000.00 33,542.00 0.00 4,54,131.00 34,54,131.00

19 11/03/2026 5,000.00 33,822.00 0.00 4,82,953.00 34,82,953.00

Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006
Payment Due (Rs.) Interest Accrued
Sr.No. EMI Date (Rs.) Interest (Rs.) Principal (Rs.) Total (Rs.)
(Rs.)
20 11/04/2026 5,000.00 34,104.00 0.00 5,12,057.00 35,12,057.00

21 11/05/2026 5,000.00 34,389.00 0.00 5,41,446.00 35,41,446.00

22 11/06/2026 5,000.00 34,677.00 0.00 5,71,123.00 35,71,123.00

23 11/07/2026 5,000.00 34,967.00 0.00 6,01,090.00 36,01,090.00

24 11/08/2026 5,000.00 35,261.00 0.00 6,31,351.00 36,31,351.00

25 11/09/2026 5,000.00 35,557.00 0.00 6,61,908.00 36,61,908.00

26 11/10/2026 5,000.00 35,856.00 0.00 6,92,764.00 36,92,764.00

27 11/11/2026 5,000.00 36,158.00 0.00 7,23,922.00 37,23,922.00

28 11/12/2026 5,000.00 36,463.00 0.00 7,55,385.00 37,55,385.00

29 11/01/2027 5,000.00 36,771.00 0.00 7,87,156.00 37,87,156.00

30 11/02/2027 5,000.00 37,083.00 0.00 8,19,239.00 38,19,239.00

31 11/03/2027 5,000.00 37,397.00 0.00 8,51,636.00 38,51,636.00

32 11/04/2027 51,008.00 37,714.00 13,294.00 0.00 38,38,342.00

33 11/05/2027 51,008.00 37,584.00 13,424.00 0.00 38,24,918.00

34 11/06/2027 51,008.00 37,452.00 13,556.00 0.00 38,11,362.00

35 11/07/2027 51,008.00 37,320.00 13,688.00 0.00 37,97,674.00

36 11/08/2027 51,008.00 37,186.00 13,822.00 0.00 37,83,852.00

37 11/09/2027 51,008.00 37,050.00 13,958.00 0.00 37,69,894.00

38 11/10/2027 51,008.00 36,914.00 14,094.00 0.00 37,55,800.00

39 11/11/2027 51,008.00 36,776.00 14,232.00 0.00 37,41,568.00

40 11/12/2027 51,008.00 36,636.00 14,372.00 0.00 37,27,196.00

41 11/01/2028 51,008.00 36,495.00 14,513.00 0.00 37,12,683.00

42 11/02/2028 51,008.00 36,353.00 14,655.00 0.00 36,98,028.00

43 11/03/2028 51,008.00 36,210.00 14,798.00 0.00 36,83,230.00

44 11/04/2028 51,008.00 36,065.00 14,943.00 0.00 36,68,287.00

45 11/05/2028 51,008.00 35,919.00 15,089.00 0.00 36,53,198.00

46 11/06/2028 51,008.00 35,771.00 15,237.00 0.00 36,37,961.00

47 11/07/2028 51,008.00 35,622.00 15,386.00 0.00 36,22,575.00

48 11/08/2028 51,008.00 35,471.00 15,537.00 0.00 36,07,038.00

49 11/09/2028 51,008.00 35,319.00 15,689.00 0.00 35,91,349.00

50 11/10/2028 51,008.00 35,165.00 15,843.00 0.00 35,75,506.00

51 11/11/2028 51,008.00 35,010.00 15,998.00 0.00 35,59,508.00

52 11/12/2028 51,008.00 34,854.00 16,154.00 0.00 35,43,354.00

53 11/01/2029 51,008.00 34,695.00 16,313.00 0.00 35,27,041.00

54 11/02/2029 51,008.00 34,536.00 16,472.00 0.00 35,10,569.00

55 11/03/2029 51,008.00 34,374.00 16,634.00 0.00 34,93,935.00

56 11/04/2029 51,008.00 34,211.00 16,797.00 0.00 34,77,138.00

57 11/05/2029 51,008.00 34,047.00 16,961.00 0.00 34,60,177.00

Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006
Payment Due (Rs.) Interest Accrued
Sr.No. EMI Date (Rs.) Interest (Rs.) Principal (Rs.) Total (Rs.)
(Rs.)
58 11/06/2029 51,008.00 33,881.00 17,127.00 0.00 34,43,050.00

59 11/07/2029 51,008.00 33,713.00 17,295.00 0.00 34,25,755.00

60 11/08/2029 51,008.00 33,544.00 17,464.00 0.00 34,08,291.00

61 11/09/2029 51,008.00 33,373.00 17,635.00 0.00 33,90,656.00

62 11/10/2029 51,008.00 33,200.00 17,808.00 0.00 33,72,848.00

63 11/11/2029 51,008.00 33,026.00 17,982.00 0.00 33,54,866.00

64 11/12/2029 51,008.00 32,850.00 18,158.00 0.00 33,36,708.00

65 11/01/2030 51,008.00 32,672.00 18,336.00 0.00 33,18,372.00

66 11/02/2030 51,008.00 32,492.00 18,516.00 0.00 32,99,856.00

67 11/03/2030 51,008.00 32,311.00 18,697.00 0.00 32,81,159.00

68 11/04/2030 51,008.00 32,128.00 18,880.00 0.00 32,62,279.00

69 11/05/2030 51,008.00 31,943.00 19,065.00 0.00 32,43,214.00

70 11/06/2030 51,008.00 31,756.00 19,252.00 0.00 32,23,962.00

71 11/07/2030 51,008.00 31,568.00 19,440.00 0.00 32,04,522.00

72 11/08/2030 51,008.00 31,378.00 19,630.00 0.00 31,84,892.00

73 11/09/2030 51,008.00 31,185.00 19,823.00 0.00 31,65,069.00

74 11/10/2030 51,008.00 30,991.00 20,017.00 0.00 31,45,052.00

75 11/11/2030 51,008.00 30,795.00 20,213.00 0.00 31,24,839.00

76 11/12/2030 51,008.00 30,597.00 20,411.00 0.00 31,04,428.00

77 11/01/2031 51,008.00 30,398.00 20,610.00 0.00 30,83,818.00

78 11/02/2031 51,008.00 30,196.00 20,812.00 0.00 30,63,006.00

79 11/03/2031 51,008.00 29,992.00 21,016.00 0.00 30,41,990.00

80 11/04/2031 51,008.00 29,786.00 21,222.00 0.00 30,20,768.00

81 11/05/2031 51,008.00 29,578.00 21,430.00 0.00 29,99,338.00

82 11/06/2031 51,008.00 29,369.00 21,639.00 0.00 29,77,699.00

83 11/07/2031 51,008.00 29,157.00 21,851.00 0.00 29,55,848.00

84 11/08/2031 51,008.00 28,943.00 22,065.00 0.00 29,33,783.00

85 11/09/2031 51,008.00 28,727.00 22,281.00 0.00 29,11,502.00

86 11/10/2031 51,008.00 28,508.00 22,500.00 0.00 28,89,002.00

87 11/11/2031 51,008.00 28,288.00 22,720.00 0.00 28,66,282.00

88 11/12/2031 51,008.00 28,066.00 22,942.00 0.00 28,43,340.00

89 11/01/2032 51,008.00 27,841.00 23,167.00 0.00 28,20,173.00

90 11/02/2032 51,008.00 27,614.00 23,394.00 0.00 27,96,779.00

91 11/03/2032 51,008.00 27,385.00 23,623.00 0.00 27,73,156.00

92 11/04/2032 51,008.00 27,154.00 23,854.00 0.00 27,49,302.00

93 11/05/2032 51,008.00 26,920.00 24,088.00 0.00 27,25,214.00

94 11/06/2032 51,008.00 26,684.00 24,324.00 0.00 27,00,890.00

95 11/07/2032 51,008.00 26,446.00 24,562.00 0.00 26,76,328.00

Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006
Payment Due (Rs.) Interest Accrued
Sr.No. EMI Date (Rs.) Interest (Rs.) Principal (Rs.) Total (Rs.)
(Rs.)
96 11/08/2032 51,008.00 26,206.00 24,802.00 0.00 26,51,526.00

97 11/09/2032 51,008.00 25,963.00 25,045.00 0.00 26,26,481.00

98 11/10/2032 51,008.00 25,718.00 25,290.00 0.00 26,01,191.00

99 11/11/2032 51,008.00 25,470.00 25,538.00 0.00 25,75,653.00

100 11/12/2032 51,008.00 25,220.00 25,788.00 0.00 25,49,865.00

101 11/01/2033 51,008.00 24,967.00 26,041.00 0.00 25,23,824.00

102 11/02/2033 51,008.00 24,712.00 26,296.00 0.00 24,97,528.00

103 11/03/2033 51,008.00 24,455.00 26,553.00 0.00 24,70,975.00

104 11/04/2033 51,008.00 24,195.00 26,813.00 0.00 24,44,162.00

105 11/05/2033 51,008.00 23,932.00 27,076.00 0.00 24,17,086.00

106 11/06/2033 51,008.00 23,667.00 27,341.00 0.00 23,89,745.00

107 11/07/2033 51,008.00 23,400.00 27,608.00 0.00 23,62,137.00

108 11/08/2033 51,008.00 23,129.00 27,879.00 0.00 23,34,258.00

109 11/09/2033 51,008.00 22,856.00 28,152.00 0.00 23,06,106.00

110 11/10/2033 51,008.00 22,581.00 28,427.00 0.00 22,77,679.00

111 11/11/2033 51,008.00 22,302.00 28,706.00 0.00 22,48,973.00

112 11/12/2033 51,008.00 22,021.00 28,987.00 0.00 22,19,986.00

113 11/01/2034 51,008.00 21,737.00 29,271.00 0.00 21,90,715.00

114 11/02/2034 51,008.00 21,451.00 29,557.00 0.00 21,61,158.00

115 11/03/2034 51,008.00 21,161.00 29,847.00 0.00 21,31,311.00

116 11/04/2034 51,008.00 20,869.00 30,139.00 0.00 21,01,172.00

117 11/05/2034 51,008.00 20,574.00 30,434.00 0.00 20,70,738.00

118 11/06/2034 51,008.00 20,276.00 30,732.00 0.00 20,40,006.00

119 11/07/2034 51,008.00 19,975.00 31,033.00 0.00 20,08,973.00

120 11/08/2034 51,008.00 19,671.00 31,337.00 0.00 19,77,636.00

121 11/09/2034 51,008.00 19,364.00 31,644.00 0.00 19,45,992.00

122 11/10/2034 51,008.00 19,055.00 31,953.00 0.00 19,14,039.00

123 11/11/2034 51,008.00 18,742.00 32,266.00 0.00 18,81,773.00

124 11/12/2034 51,008.00 18,426.00 32,582.00 0.00 18,49,191.00

125 11/01/2035 51,008.00 18,107.00 32,901.00 0.00 18,16,290.00

126 11/02/2035 51,008.00 17,785.00 33,223.00 0.00 17,83,067.00

127 11/03/2035 51,008.00 17,459.00 33,549.00 0.00 17,49,518.00

128 11/04/2035 51,008.00 17,131.00 33,877.00 0.00 17,15,641.00

129 11/05/2035 51,008.00 16,799.00 34,209.00 0.00 16,81,432.00

130 11/06/2035 51,008.00 16,464.00 34,544.00 0.00 16,46,888.00

131 11/07/2035 51,008.00 16,126.00 34,882.00 0.00 16,12,006.00

132 11/08/2035 51,008.00 15,784.00 35,224.00 0.00 15,76,782.00

133 11/09/2035 51,008.00 15,439.00 35,569.00 0.00 15,41,213.00

Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006
Payment Due (Rs.) Interest Accrued
Sr.No. EMI Date (Rs.) Interest (Rs.) Principal (Rs.) Total (Rs.)
(Rs.)
134 11/10/2035 51,008.00 15,091.00 35,917.00 0.00 15,05,296.00

135 11/11/2035 51,008.00 14,739.00 36,269.00 0.00 14,69,027.00

136 11/12/2035 51,008.00 14,384.00 36,624.00 0.00 14,32,403.00

137 11/01/2036 51,008.00 14,026.00 36,982.00 0.00 13,95,421.00

138 11/02/2036 51,008.00 13,663.00 37,345.00 0.00 13,58,076.00

139 11/03/2036 51,008.00 13,298.00 37,710.00 0.00 13,20,366.00

140 11/04/2036 51,008.00 12,929.00 38,079.00 0.00 12,82,287.00

141 11/05/2036 51,008.00 12,556.00 38,452.00 0.00 12,43,835.00

142 11/06/2036 51,008.00 12,179.00 38,829.00 0.00 12,05,006.00

143 11/07/2036 51,008.00 11,799.00 39,209.00 0.00 11,65,797.00

144 11/08/2036 51,008.00 11,415.00 39,593.00 0.00 11,26,204.00

145 11/09/2036 51,008.00 11,027.00 39,981.00 0.00 10,86,223.00

146 11/10/2036 51,008.00 10,636.00 40,372.00 0.00 10,45,851.00

147 11/11/2036 51,008.00 10,241.00 40,767.00 0.00 10,05,084.00

148 11/12/2036 51,008.00 9,841.00 41,167.00 0.00 9,63,917.00

149 11/01/2037 51,008.00 9,438.00 41,570.00 0.00 9,22,347.00

150 11/02/2037 51,008.00 9,031.00 41,977.00 0.00 8,80,370.00

151 11/03/2037 51,008.00 8,620.00 42,388.00 0.00 8,37,982.00

152 11/04/2037 51,008.00 8,205.00 42,803.00 0.00 7,95,179.00

153 11/05/2037 51,008.00 7,786.00 43,222.00 0.00 7,51,957.00

154 11/06/2037 51,008.00 7,363.00 43,645.00 0.00 7,08,312.00

155 11/07/2037 51,008.00 6,936.00 44,072.00 0.00 6,64,240.00

156 11/08/2037 51,008.00 6,504.00 44,504.00 0.00 6,19,736.00

157 11/09/2037 51,008.00 6,068.00 44,940.00 0.00 5,74,796.00

158 11/10/2037 51,008.00 5,628.00 45,380.00 0.00 5,29,416.00

159 11/11/2037 51,008.00 5,184.00 45,824.00 0.00 4,83,592.00

160 11/12/2037 51,008.00 4,735.00 46,273.00 0.00 4,37,319.00

161 11/01/2038 51,008.00 4,282.00 46,726.00 0.00 3,90,593.00

162 11/02/2038 51,008.00 3,825.00 47,183.00 0.00 3,43,410.00

163 11/03/2038 51,008.00 3,363.00 47,645.00 0.00 2,95,765.00

164 11/04/2038 51,008.00 2,896.00 48,112.00 0.00 2,47,653.00

165 11/05/2038 51,008.00 2,425.00 48,583.00 0.00 1,99,070.00

166 11/06/2038 51,008.00 1,949.00 49,059.00 0.00 1,50,011.00

167 11/07/2038 51,008.00 1,469.00 49,539.00 0.00 1,00,472.00

168 11/08/2038 51,008.00 984.00 50,024.00 0.00 50,448.00

169 11/09/2038 50,942.00 494.00 50,448.00 0.00 0.00

*Includes Interest accrued converted to Principal prior to MI Start Date.

Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006
Disclaimer: The Amortisation schedule above is indicative in nature and is based on the sanctioned loan amount, at the Applicable Rate of Interest linked
to HDFC Credila Benchmark Lending Rate as on the date of the agreement. The schedule does not reflect the repayment terms as applicable to the loan
and as such is only for limited purpose of reflecting the features of the loan.

eSigned using Aadhaar eSigned using Aadhaar eSigned using Aadhaar

(Leegality.com - IR210AF606) (Leegality.com - IR210AF606) (Leegality.com - IR210AF606)
NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH
Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024

Borrower Co-borrower-1 Co-borrower-2 Co-borrower-3

Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

MOST IMPORTANT TERMS AND CONDITIONS

The most important terms and conditions (“MITC”) of the education loan sanctioned (“Education Loan Facility”) to the
undersigned Borrower(s) by HDFC Credila Financial Services Limited (hereinafter referred to as “HDFC Credila”), a company
incorporated under the Companies Act, 1956 and having its registered office at B-301, Citi Point, Andheri – Kurla Road, Andheri
(East), Mumbai – 400 059 are agreed upon and mentioned as under:

1. Fees and Other Charges:

a. Fees and other charges as applicable on application/ during the term of Education Loan Facility, areas under:

Sr. Name of Fees/ Description of

No. When Payable Frequency Amount in Rupees
Charges Levied Charges

Delayed Additional charge 2% per month of overdue

1. On Accrual Monthly installment ( PMlI/MI) + all
Penal Charge
applicable taxes thereon.
Incidental charges and expenses are
On Incurring As and When levied to cover the cost, charges,
2. Incidental Charges
Expenses to cover Expenses Applicable expenses, and other monies at
cost actuals plus applicable taxes.

Fees payable to the On

Central Registry of Disbursement /
Securitisation Asset One Time As per charges levied by CERSAI.
Creation of
Reconstruction and
Statutory Charges/ Security Interest security/
3.
Stamp Duty of India (“CERSAI”) Change of
Security
Stamp Duty on
execution of On/ Before As applicable in the respective
As and When
Memorandum of
Disbursement Applicable state.
Deposit
or upon
(“MOD”)/
Memorandum of execution of
Entry (“MOE”), Facility
Education Loan Documents
Agreement or any
other facility
document.

On every On every
Cheque/ Direct Debit Rs. 500/- per dishonor of
Dishonor of Dishonor of
/Automated Clearing Cheque/ Direct Debit /ACH
4. Incidental Charges Cheque/Direct Cheque/Direct
House (ACH) Mandate Mandate return per presentation
Debit/ACH Debit/ACH
Dishonor Charge plus applicable taxes thereon.
Mandate Mandate

As and when Rs. 200/- per visit plus applicable

5. Collection Charges Incidental Charges On Accrual
applicable taxes thereon
Swap Charges (for
replacement of ACH On each Upto Rs, 500/- per swap
6. MI Mandate / Direct Incidental Charges On Accrual request instanceplus applicable taxes
Debit/ ACH Security thereon.
Mandate etc.)

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH
Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

7. Charges for Updating &

Handling Loan Account On each Rs. 1,500/- plus applicable taxes
as Per Borrower Incidental Charges On Accrual thereon.
request
Request

Documentation Fees/
8. Incidental Charges On Accrual One Time Non-Refundable amount as
Loan Origination Fees
determined on case to case basis
more particularly mentioned in
sanction letter.
Spread Conversion 0.5% plus applicable taxes on
9. Incidental Charges On Accrual On each request
charge principal outstanding
10. Incidental Charges On Accrual On each request a) Floating rate to fixed rate - 0.75%
Conversion Charges
(plus GST) on principal outstanding at
time of conversion.
b) Fixed rate to floating rate – 0.5%
(plus GST) on principal outstanding at
time of conversions
11. Incidental Charges On Accrual On each request 2% (plus GST) charge on the
Foreclosure charges on
fixed interest rate loan outstanding amount being
foreclosed.
12. Incidental Charges On Accrual On each request 2% (plus GST) charge on part of the
Prepayment Charges on
fixed interest rate loan outstanding amount being prepaid.
13. Incidental Charges On Accrual On each request 0.50% of loan amount, subject to
Collateral Swap
minimum of Rs 10,000 + GST (per
collateral swap)
14. Incidental Charges On Accrual As and when -Rs. 1500/- plus applicable taxes
Legal Charges
applicable
thereon on each Days Past Due (DPD)
notice sent to any or all Borrower(s).
-Rs 2000/- plus applicable taxes
thereon on each Loan Recall Notice
(LRN) is sent to any or all
Borrower(s).
-Rs 10,000/- plus applicable taxes
thereon on filing a Criminal case
against any or all Borrower(s).
-Rs 20,000/- plus applicable taxes
thereon on filing a Civil case against
any or all Borrower(s).
-All charges on Actual basis plus
applicable taxes thereon, on filing a
case under Securitization and
Reconstruction of Financial Assets and
Enforcement of Security Interest Act,
2002 (as amended from time to time).

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NIKITA AJAY SINGH NEHA AJAY SINGH
AJAY KUMAR SINGH
Date: Tue Sep 03 19:54:07 IST Date: Thu Sep 05 11:15:52 IST
Date: Wed Sep 04 11:43:08 IST 2024
2024 2024
 Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

b. Prepayment Charges:

The Borrower(s) shall be entitled to prepay the entire Outstanding Education Loan by providing
Adjustable-Rate Loans HDFC Credila an intimation in writing with Borrower(s) intention to make such prepayment. The
1.
Borrower(s) shall be entitled to prepay the Education Loan Facility, either partly or fully, as per the
existing Prepayment Policy and as amended from time to time. In the event of any prepayment,
HDFC Credila will not levy any prepayment charges and as amended from time to time.

2. Fixed Rate Loans The Borrower(s) shall be entitled to prepay the entire Outstanding Education Loan by providing
HDFC Credila an intimation in writing with Borrower(s) intention to make such prepayment.
The Borrower(s) shall be entitled to prepay the Education Loan Facility, either partly or fully,
as per the existing Prepayment Policy and as amended from time to time. In the event of any
prepayment HDFC Credila shall leavy charges as per abovementioned table.

2. Interest Rate Reset Revision Cycle:

a. One Month or such other intervals as shall be notified by HDFC Credila from time to time.
b. Subject to variation in terms of the Education Loan Agreement executed/ to be executed between HDFC Credila
and the Borrower(s), HDFC Credila shall endeavour to keep its Borrower(s) informed of any change in interest rates
through registered e-mail ID of the Borrower(s), SMS, company website (www.hdfccredila.com), annual statement
of accounts, display in its offices and general announcements from time to time.
3. Insurance:
a. Insurance of property: The Borrower(s) may ensure that the property is, during the pendency of the Education Loan
Facility, always duly and properly insured against all risks such as earthquake, fire, flood , explosion , storm , tempest,
cyclone, civil commotion, etc. HDFC Credila be made the sole beneficiary under the policy/ policies.
b. Insurance of Borrower(s): The Borrower(s) may avail health and/or life insurance cover and/or general insurance
cover for himself/ herself with HDFC Credila as the sole beneficiary under the policy/policies during the pendency
of the Education Loan Facility.
4. Reset/Revision of HDFC Credila Benchmark Lending Rate (H-CBLR):
a. At the time of reset of H-CBLR, HDFC Credila will offer Borrower(s) the option to switch over from floating rate
to fixed rate of interest or vice versa, subject to eligibility of the Borrower(s). The fixed rate to be offered at the time
of reset of the H-CBLR will be decided by HDFC Credila at its sole discretion. The Borrower(s) will have the option
to switch from floating interest rate to fixed interest rate once during the tenure of the education loan. The option to
switch back from fixed interest rate to floating interest rate will also be made available once during the tenure of the
loan, thus facilitating a total of two such switch options during the loan tenure. The charges for switching the loans
from floating rate to fixed rate and from fixed rate to floating rate are mentioned in table above.
b. Eligibility criteria for switching from Floating to Fixed rate (and vice versa) –
While the Borrower(s) has/have the option to switch from a floating rate loan to a fixed rate loan at the time of reset
of the H-CBLR and vice versa, the optionality will be made available to those Borrower(s) who fulfill certain
eligibility criteria:
i. Loan has been disbursed not less than 1 (one) year prior to the request.
ii. There is no outstanding PMII/ EMI pending from the Borrower(s) at the time of request to switch.
iii. The previous switch was undertaken at least 1 (one) year prior to the current request.
iv. The maximum allowable switches have not been utilized by the Borrower(s).
v. Any other eligibility criteria as solely determined by HDFC Credila at any given point of time.

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
 Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

c. At the time of reset of H-CBLR, Borrower(s) will have choice to increase or reduce the PMII / MI or tenure, or both
as per below parameters:
1. When H-CBLR is reduced:
i. For Partial Interest Loans: Option to choose between reduction in MI amount or tenure or both will be made
available to the Borrower(s). No reduction in the PMII amount shall be allowed in this situation.
ii. For Credila Education Loans (paying full interest during moratorium period): Option to choose between reduction
in MI amount or Tenor or a combination will be made available to the Borrower(s).
iii. For Loans paying EMI on the date of change: Option to choose between reduction in MI amount or tenure or both
will be made available to the Borrower(s).
Note:- In no scenario will the tenure of the loan increase in case of reduction in H-CBLR
2. When H-CBLR is increased,
i. For Partial Interest Loans: Option to choose between increase in PMII amount or MI amount or tenure or a
combination will be made available to the Borrower(s).
ii. For Credila Education Loans (paying full interest during moratorium period): Option to choose between increase
in the PMII amount, increase in MI amount or tenure, or a combination will be made available to the Borrower(s).
iii. For Loans paying MI on the date of change: Option to choose between increase in MI amount or tenure, or both
will be made available to the Borrower(s).
Note: In case of increase in H-CBLR, the option to keep the PMII/MI constant will be subject to the loan not
resulting in negative amortization. In such cases, the PMII/MI amount will need to be increased.

3. At the time of change in the H-CBLR, the below mentioned options will be made available to the
Borrower(s) (whose loans are linked to H-CBLR) :
i. Option to switch to fixed rate, if available.
ii. Option to switch to floating rate, if available.
iii. Option to change PMII / MI (as applicable).
iv. Option to change tenor.
v. Option to change a combination of PMII / MI / tenure.
vi. Option to prepay the loan in part or full.

The option as mentioned in Clause 4 will is made available to Borrower(s) for a period of 21 days from the date
of effect of change in H-CBLR. HDFC Credila shall not consider any request beyond a period of 21 days.
Borrower(s) shall place any such request with the Company’s Customer Service team via
[email protected].

5. Availability of the Education Loan Facility is subject to satisfactory completion of loan documentation. The Sanction
Letter shall stand unilaterally revoked and shall become absolutely null and void even after acceptance by Borrowers,
if:

a. There are any material changes in the proposal based on which the Education Loan Facility is sanctioned. Final
disbursement will be made based on the favourable validation and authentication of all supplied documents.
b. Any material fact concerning the Borrower(s) income/profits or ability to pay, or any other relevant aspect of the
Borrower(s) application for the Education Loan Facility is withheld, suppressed, or concealed or not made known
to HDFC Credila.
c. Any statement made in the application is found to be incorrect or untrue.
d. The Education Loan Agreement and other documents, as required by HDFC Credila are not executed within a
period of 6(six) months from the date of sanction or during any further time extended by HDFC Credila at its sole
discretion.

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH
Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST
2024 Date: Thu Sep 05 11:15:52 IST
2024 2024
 Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

e. Any information as may be required by HDFC Credila from time to time pertaining to the admission/ studies is
not furnished in the form prescribed/approved by HDFC Credila.
f. As an outcome of legal due diligence, HDFC Credila is of the view that it is unviable to proceed further with the
offer that was made hereinabove here.
g. No disbursement of any amount shall be done by HDFC Credila in a Non-Resident External Account (NRE
Account).

6. Disbursement of each tranche under the Education Loan Facility will be based on favourable credit verification and
financial check(s) of the Borrower(s).

7. Post Disbursement Formalities: Borrower(s) shall exclusively be responsible to comply with all post disbursement
documentation formalities (if any) as communicated to the Borrowers. The same shall be provided at the earliest to
HDFC Credila.

8. Brief Procedure to be followed for recovery of overdue in case of default in repayment of PMII/MI:

a. Borrower(s) are explained the repayment process of the Outstanding Education Loan in respect of tenure,
periodicity, amount and mode of repayment of the Education Loan Facility. On non-payment of PMII/MI on the
relevant due dates, HDFC Credila shall remind the Borrower(s) by making telephone calls, sending written
intimations by post and electronic medium or by personal visits undertaken by HDFC Credila’s authorized
personnel at the addresses provided by the Borrower(s). Costs of such calls/communication/personal visits shall be
recovered from the Borrower(s). Notwithstanding what is stated herein, it shallbe the liability of the Borrower/s to
ensure that the PMII/MI are regularly paid on the relevant due dates.
b. On default in repayment of PMII/MI, a loan is tagged as a Special Mention Account (SMA). It is further classified
as per the following categories for term loans:

Basis for classification – Principal or interest payment or any other amount

SMA Sub-categories
wholly or partly overdue
SMA-0 Upto 30 days
SMA-1 More than 30 days and upto 60 days
SMA-2 More than 60 days and upto 90 days

Non Performing Asset (NPA): If any PMII / MI remains overdue for more than 90 (ninety) days from the due date,
the loanaccount would be classified as a NPA as per the extant prudential norms of the Reserve Bank of India.

The classification of SMA/NPA will be done daily.

Example: The PMII / MI for a loan account is due on December 11, 2021. If full dues (PMII / MI amount) are not
received before the Company runs the day-end process for this date, the date of overdue (SMA-0) shall be
December 11, 2021. If it continues to remain overdue, then this account shall get tagged as SMA-1 upon running
day-end process on January 10, 2022 i.e. upon completion of 30 days of being continuously overdue. Accordingly,
the date of SMA-1 classification for that account shall be January 10, 2022. Similarly, if the account continues to
remain overdue, it shall get tagged as SMA-2 upon running day-end process on February 9, 2022 and if continues
to remain overdue further, it shall get classified as NPA upon running day-end process on March 11, 2022.

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

Post NPA classification, the account will be upgraded to 'Standard' only if the entire arrears of interest and
principal are paid by the borrower. For example, when a loan account is classified as an NPA on December 11,
2021 and has four instalments overdue, said loan will not be upgraded to ‘Standard’ even if the borrower repays
three instalments on December 12, 2021 and the loan account will be upgraded to ‘Standard' only when the
remaining overdue instalment is also repaid and there is no overdue in the account.

c. Credit information relating to any Borrower (s) account is provided to TransUnion CIBIL Limited (“CIBIL”) or
any other licenced bureau on a monthly basis. To avoid any adverse impact on the credit history with CIBIL or any
other credit information bureau designated by the RBI, it is advised that the Borrower(s) should ensure timely
payment of the amount due in relation to the Outstanding Education Loan Facility amount.
d. The recovery process of enforcement of mortgage/securities, including but not limited to, taking possession and
sale of the mortgaged property in accordance with the procedure prescribed under the Securitisation and
Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“SARFAESI Act”) or under
any other law, is followed purely as per the directions laid down under the respective law.
Intimation/Reminders/Notice(s) are provided to Borrower (s) prior to initiating steps for recovery of overdues under
Negotiable Instruments Act, Payment and Settlement Act, Civil Suit, SARFAESI Act or any other Applicable Law.
e. Arbitration: All disputes, differences between the parties shall be referred for arbitration to a sole arbitrator to be
appointed by HDFC Credila. The arbitration shall be conducted in accordance with the provisions of the Arbitration
and Conciliation Act, 1996 as amended from time to time. The venue of arbitration proceedings shall be Mumbai
or any other place within the territory of India that HDFC Credila may deem convenient for the purpose of
administering dispute in relation to Education Loan Facility, and the Borrower(s) hereby agree to abide by the
choice of HDFC Credila in relation to place of arbitration. The language of the arbitration proceedings shall be
English. Alternatively, and without prejudice to the rights and remedies of HDFC Credila mentioned herein, HDFC
Credila shall have sole discretion and/ or exclusive rights to invoke any other remedies against the Borrower(s)
under Applicable Law for any events of default and/or breach of any term or condition, covenant and undertakings
in connection with the Education Loan Facility.
f. Jurisdiction: In case of default, legal action will be taken in courts of competent jurisdiction at such place where
the collateral security is located, and in the event no collateral security has been provided to HDFC Credila, then
courts of competent jurisdiction at Mumbai. However, HDFC Credila shall not be prevented from taking
proceedings relating to dispute in any other courts and tribunals with jurisdiction at its discretion and convenience
including jurisdictions where the Borrowers are then residing and/or employed and/or at the place of occurrence
of Event of Default and/or any at place where cause of action arose between the Parties out of this MITC.

9. HDFC Credila shall have the right, at its sole discretion, at any time and from time to time, to vary, revise or modify
the education loan agreement, together with all annexures, schedules, letters, applications, deeds and other allied
documents including MITC, key fact statement or instruments, or any other communication in writing, if any, whether
attached herewith or to be attached in future, from time to time, forming part of this education loan agreement.

All capitalized terms used herein and not defined, will have the same meaning as set out in the Education Loan Agreement. We
the undersigned hereby agree to have received, read and understood the terms and conditions as mentioned above and shall refer
to and rely upon the loan and other security documents executed/to be executed by us.
Signature:

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH
Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024

Borrower Coborrower-1 Coborrower-2 Coborrower-3 HDFC Credila

Authorised Signatory
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006
Insurance Funding - Consent Letter

Date : 2024-09-02

To,
HDFC Credila Financial Services Limited

KOLKATA Branch

Ref: Education Loan Account No. A2405070039

Dear Sir/Ma’am,
I/We, (1) Miss. Nikita Ajay Singh, (2) Mr. Ajay Kumar Singh, (3) Miss. Neha Ajay Singh (hereinafter collectively referred to as Co-Borrower(s)) have applied
for an Education Loan amounting to Rs. 30,00,000.00/- ( Rupees Thirty Lakh Only.) vide Education Loan Account No. A2405070039 (hereinafter referred to
as ("said loan"), which is granted by HDFC Credila Financial Services Limited ("HDFC Credila")

I/We do hereby solemnly affirm, confirm, undertake and guarantee to declare that:

1. I/We have been informed about the benefits of the Kotak Complete Cover Group Insurance Policy With Critical Illness Rider,
which will cover the education loan (in case of natural death or accidental death for a period of 10 (ten) years or until expiration of
policy tenure, whichever is earlier, or suicidal death after 1 (one) year from the date of commencement of the said insurance policy,
for a period of 9 (nine) years or until expiration of policy tenure) Or diagnosed of any critical illness mention from policy availed
for a period of 10 (ten) years or until expiration of policy tenure, whichever is earlier by me/us from HDFC Credila.

2. I/We hereby represent and warrant that I/we am/are fully aware of the terms and conditions of the said insurance policy and have
decided to avail of the same voluntarily, knowingly and without compulsion of any kind.
3. I/We hereby authorise HDFC Credila to pay the one-time premium towards the aforesaid insurance policy and the same shall
constitute part of the disbursement from the sanctioned education loan amount and I/we shall be obligated to repay the same as per
the terms of the education loan agreement.
4. I/We are aware that the premium of Rs.45,029.00/- ( Rupees Forty Five Thousand Twenty Nine Only.) including GST is indicative
in nature and subject to revision for whatsoever reason by the Insurance Company and subject to the terms and conditions of the
Insurance Company as applicable from time to time, which I/we agree to comply with.

I/We hereby ACCEPT

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH
Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024

Borrower Co-Borrower-1 Co-Borrower-2

2024-09-02 2024-09-02 2024-09-02
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006
Insurance Funding - Consent Letter

Date : 2024-09-02

To,
HDFC Credila Financial Services Limited

KOLKATA Branch

Ref: Education Loan Account No. A2405070039

Dear Sir/Ma’am,
I/We, (1) Miss. Nikita Ajay Singh, (2) Mr. Ajay Kumar Singh, (3) Miss. Neha Ajay Singh (hereinafter collectively referred to as Co-Borrower(s)) have applied
for an Education Loan amounting to Rs. 30,00,000.00/- ( Rupees Thirty Lakh Only.) vide Education Loan Account No. A2405070039 (hereinafter referred to
as ("said loan"), which is granted by HDFC Credila Financial Services Limited ("HDFC Credila")

I/We do hereby solemnly affirm, confirm, undertake and guarantee to declare that:

1. 1.I/We have been informed about the benefits of the TATA AIG Group Overseas Travel Guard Insurance Policy, which
will cover the Student Travel (Other Than India) for a period of 01 (One) years or until expiration of policy tenure,
whichever is earlier, availed by me/us from HDFC Credila.
2. I/We hereby represent and warrant that I/we am/are fully aware of the terms and conditions of the said insurance policy and have
decided to avail of the same voluntarily, knowingly and without compulsion of any kind.
3. I/We hereby authorise HDFC Credila to pay the one-time premium towards the aforesaid insurance policy and the same shall
constitute part of the disbursement from the sanctioned education loan amount and I/we shall be obligated to repay the same as per
the terms of the education loan agreement.
4. I/We are aware that the premium of Rs.35,405.00/- ( Rupees Thirty Five Thousand Four Hundred Five Only.) including GST is
indicative in nature and subject to revision for whatsoever reason by the Insurance Company and subject to the terms and conditions
of the Insurance Company as applicable from time to time, which I/we agree to comply with.

I/We hereby ACCEPT

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH
Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024

Borrower Co-Borrower-1 Co-Borrower-2

2024-09-02 2024-09-02 2024-09-02
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

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AJAY KUMAR SINGH NEHA AJAY SINGH
NIKITA AJAY SINGH
Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
Date: Tue Sep 03 19:54:07 IST 2024
2024 2024
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

DISBURSEMENT REQUEST FORM (DRF)

This DRF is only a request and borrower/s are required to execute loan documents and/or supplementary loan documents for disbursement.

1. I/We have been sanctioned an Education loan by HDFC Credila Financial Services Limited (HDFC Credila) for pursuing higher studies. I/We
request you to kindly disburse the amount as mentioned in the breakup.
2. I/We have mentioned bank details below.
3. I/We further acknowledge that HDFC Credila accepts no liability for any consequences arising out of erroneous bank details provided by
me/us.
4. I/We request and authorize you to kindly deduct my PMI/MI/EMI on the education loan on or before 11th of every month by presenting the
ACH mandate duly executed me/us
5. I/We hereby authorize and give consent to HDFC Credila to pay the one-time premium towards the insurance policy opted for and the same
shall constitute part of the disbursement from the sanctioned education loan amount. The disbursement of the insurance premium is subject to
borrower/s availing the insurance funding from HDFC Credila and completing the necessary formalities and documentation with the insurance
company.
6. I/We are aware that this DRF is indicative and might undergo change in future. I/ We agree that HDFC Credila reserves solely the right to
withhold disbursement,( in part or whole), for whatsoever reason at its sole discretion.

Application Number A2405070039

Student Name NIKITAAJAY SINGH

Total Disbursement Amount & Rs. 6,80,434.00

Date 02-Sep-2024

Disbursement Towards Tuition Fees Paid To College : Rs. 6,00,000.00

Insurance Funding : Rs. 45,029.00
Travel Insurance : Rs. 35,405.00

Total : Rs. 6,80,434.00

Bank Account Holder Name NIKITA AJAY SINGH

Bank Name HSBC

Account Number 023-132640-006

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH
Borrower Co-borrower-1 Co-borrower-2 Co-borrower-3
Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024

Date : 02-Sep-2024
Place : KOLKATA
Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

Schedule B
LOAN SUMMARY SCHEDULE

(The Loan Summary Schedule shall be read in conjunction with the education loan agreement executed between the
Borrowers and HDFC Credila Financial Services Limited (“Education Loan Agreement”) and deemed to be an integral
part of the Education Loan Agreement.)

Loan Summary Schedule SCHEDULE-B

Education Account Loan A2405070039 Place of execution of Loan Kolkata
No. Agreement
Date of Education Loan 2024-09-02
Agreement
Borrower's Details Present Address Permanent Address E-mail

Miss. Nikita Ajay Singh 503 A Wing Vraj Bhoomi --- [email protected]
Co Op Hsg Brahmand m
Kolshet Patlipada Thane
West Sandozbaugh, City:
Thane, State: Maharashtra,
Pin: 400607, Country: India

Mr. Ajay Kumar Singh 503 A Wing Vraj Bhoomi 503 A Wing Vraj Bhoomi [email protected]
Co Op Hsg Brahmand Co Op Hsg Brahmand
Kolshet Patlipada Thane Kolshet Patlipada Thane
West Sandozbaugh, City: West Sandozbaugh, City:
Thane, State: Maharashtra, Thane, State: Maharashtra,
Pin: 400607, Country: India Pin: 400607, Country: India

Neha Ajay Singh 503 A Wing Vraj Bhoomi 503 A Wing Vraj Bhoomi [email protected]
Co Op Hsg Brahmand Co Op Hsg Brahmand
Kolshet Patlipada Thane Kolshet Patlipada Thane
West Sandozbaugh, City: West Sandozbaugh, City:
Thane, State: Maharashtra, Thane, State: Maharashtra,
Pin: 400607, Country: India Pin: 400607, Country: India

Name of University/ Loma Linda University Address of University/ 11139 Anderson Street,
College/ Education College/ Education Loma Linda, CA, 92350,
Institution Institution USA
Name of Course of Study Post Professional Doctor Of Interest Type Floating
Physical Therapy: Physical
Therapy
Duration of Course Total duration of studies Sanctioned Loan Amount Rs. 30,00,000.00/-
(Rupees Thirty Lakh only)

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH
Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST
2024 Date: Thu Sep 05 11:15:52 IST
2024 2024

Borrower Co-borrower-1 Co-borrower-2 Co-borrower-3

 Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006
Moratorium Period For duration of studies plus Loan Tenure Expected tenure is 169
maximum of 12 months months, subject to variation
after completion of studies. pursuant to the terms of the
Expected to be 0 months, Agreement.
subject to variation pursuant Maximum possible tenure
to the terms of the shall be 240 month.
Agreement.

Availability Period Total duration of studies from the date of disbursement of first tranche subject to
disbursement of first tranche availed within three months* from date of execution of the
Agreement.

*In event of any change in customer's requirement in writing, the period of three months
may be extended at the sole discretion of HDFC Credila.
Applicable Rate of Interest HDFC Credila Benchmark Lending Rate* - Interest Spread = 13.80-2.05= 11.75% per
annum.
* subject to revision pursuant to the terms of the Agreement.

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH
Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024

Borrower Co-borrower-1 Co-borrower-2 Co-borrower-3

 Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

Schedule C
Repayment Schedule

Repayment Schedule SCHEDULE-C

Education Loan Facility

Disbursement Details for 1 Tranche Disbursement Rs. 6,80,434.00/-

Tranche Amount (Rupees Six Lakh Eighty
Thousand Four Hundred
Thirty Four Only.)
Disbursement Details 1. Rs. 6,00,000.00/- Number of PMII For duration of studies plus
favouring Mr./ Ms./Messers maximum of 12 months
Nikita Ajay Singh after completion of studies.
2. Rs. 45,029.00/- favouring Expected to be 31 months,
Mr./ Ms./Messers Kotak subject to variation pursuant
Life Insurance Rop N to the terms of the
3. Rs. 35,405.00/- favouring Agreement.
Mr./ Ms./Messers Tata Aig
General Insurance Co Ltd

PMII (Pre-Monthly 11/09/2024 Amount of Each PMII* Rs. 1,134.00/- initially,

Instalment Interest) Payment payable until
Start Date** commencement of Monthly
Installment, subject to
variation pursuant to the
terms of the Agreement.

Date of Commencement of First date on which the Number of MI Expected to be 138 months,
MI Monthly Installment/s are subject to variation pursuant
paid by the Borrower/s. to the terms of the
Such date not be beyond a Agreement.
maximum of 12 months
after completion of studies

MI(Monthly Instalment) 11/4/2027 Amount of Each MI* Rs. 11,569.00/- subject to

Payment Start Date** variation pursuant to the
terms of the Agreement.

Mode of Repayment ACH/DDM Bank Account Details MI ACH and Security ACH
Mandate From: Ajay Kumar
Singh, Union Bank Of India,
, Kishore Ngar Thane,
Thane, AC#:
350102010276168

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024

Borrower Co-borrower-1 Co-borrower-2 Co-borrower-3

 Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006
*PMII/MI is based on the assumption that total disbursement amount equals to the total sanctioned amount on the date of
signing the agreement. The Actual PMII/MI shall depend on the quantum of the first disbursement and will undergo a
change at each subsequent tranche disbursement date and the residual contracted tenor.

**The first PMII/MI will commence on the 11th day of the same or next month from the actual date of disbursement.
The exact date shall be dependent on the tranche disbursement date.

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH
Date: Tue Sep 03 19:54:07 IST Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
2024 2024 2024

Borrower Co-borrower-1 Co-borrower-2 Co-borrower-3

 Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

Date: 02-Sep-2024 Key Fact Statement (KFS)

Application Number: A2405070039 Applicant Name: Miss. Nikita Ajay Singh

1. Type of Loan Facility Education Loan

2. Sanctioned Loan Amount to be disbursed (In Rs.) 30,00,000/-

3. Total Interest Charge during the entire tenor of the loan (In Rs.) 41,94,038/-

4. Other Up-Front Charges (In Rs.) 63,584/-

a) Loan Origination Fees (In Rs.) * 25,424/-

b) Insurance Charges, If any (In Rs.) 38,160/-

5. Net amount available (2 – 4(b)^) (In Rs.) 29,61,840/-

6. Total amount to be paid by the borrower ** (Sum of 2+3+4^) (In 72,19,462/-

Rs.)
7. Applicable Rate of Interest (ROI) 11.75% p.a.

8. Annual Percentage Rate - Effective annualized interest rate 12.07% p.a.

(%)^^
9. Type of Interest (Floating / Fixed) Floating

10. Total Loan Tenor (In Months) 168

11. Repayment frequency by the borrower Monthly

12. Due date of PMII / MI 11th day of every month

13. Number of Installments (PMII) 30

14. Amount of Installment (PMII in Rs.) 5,000/-

15. Number of Installments (MI) 138

16. Amount of Installment (MI in Rs.) 50,923/-

Fees and Other Charges**

17. Delayed penal charge 2% per month of overdue installment (PMlI/ MI) + all applicable
taxes thereon.
18. Expenses to cover cost Incidental charges and expenses are levied to cover the cost,
charges, expenses, and other monies at actuals plus applicable
taxes.
19. Statutory Charge As per charges levied by CERSAI.

20. Stamp Duty As applicable in the respective state.

21. Cheque/ Direct Debit/ Automated Clearing House ACH) Rs. 500/- per dishonour of Cheque/Direct Debit /ACH Mandate
Mandate Dishonour Charge (in Rs.) return per presentation plus applicable taxes thereon.

22. Collection Charges / Visiting Charges (in Rs.) Rs. 200/- per visit plus applicable taxes thereon.

23. Swap Charges (for replacement of ACH MI Mandate / Direct Upto Rs, 500/- per swap instance plus applicable taxes thereon.
Debit/ ACH Security Mandate etc.)
24. Charges for Updating & Handling Loan Account as Per Rs. 1,500/- plus applicable taxes thereon.
Borrower Request

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NIKITA AJAY SINGH AJAY KUMAR SINGH NEHA AJAY SINGH

Date: Tue Sep 03 19:54:07Date: Date: Thu Sep 05 11:15:52 IST

IST Wed Sep 04 11:43:08 IST
2024 2024 2024
 Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

25. Documentation Fees/ Loan Origination Fees Non-Refundable amount as determined on case-to-case basis more
particularly mentioned in sanction letter.
26. Spread Conversion charge 0.5% plus applicable taxes on principal outstanding.

27. Conversion Charges a) Floating rate to fixed rate - 0.75% (plus GST) on principal
outstanding at time of conversion.
b) Fixed rate to floating rate – 0.5% (plus GST) on principal
outstanding at time of conversions.
28. No. of switches allowed (to go from floating to fixed rate loan Two
and vice versa in a loan lifetime)
29. Eligibility criteria (criteria to be eligible for switching) 1. Loan has been disbursed not less than 1 (one) year prior to the
request.
2. There is no outstanding PMII/ EMI pending from the
Borrower(s) at the time of request to switch.
3. The previous switch was undertaken at least 1 (one) year prior to
the current request.
4. The maximum allowable switches have not been utilized by the
Borrower(s).
5. Any other eligibility criteria as solely determined by HDFC
Credila at any given point of time.
30. Foreclosure charges on fixed interest rate loan 2% (plus GST) charge on the outstanding amount being foreclosed.

31. Prepayment Charges on fixed interest rate loan 2% (plus GST) charge on part of the outstanding amount being
prepaid.
32. Collateral Swap 0.50% of loan amount, subject to minimum of Rs 10,000 + GST
(per collateral swap).
33. Legal Charges 1. Rs. 1500/- plus applicable taxes thereon on each Days Past Due
(DPD) notice sent to any or all Borrower(s).
2. Rs 2000/- plus applicable taxes thereon on each Loan Recall
Notice (LRN) is sent to any or all Borrower(s).
3. Rs 10,000/- plus applicable taxes thereon on filing a Criminal
case against any or all Borrower(s).
4. Rs 20,000/- plus applicable taxes thereon on filing a Civil case
against any or all Borrower(s).

All charges on Actual basis plus applicable taxes thereon, on filing

a case under Securitization and Reconstruction of Financial Assets
and Enforcement of Security Interest Act, 2002 (as amended from
time to time).
34. Other Disclosures
a) Cooling off/look-up period during which borrower will not be 3 Days
charged anything#
b) Details of LSP acting as recovery agent and authorized to No LSP acting as recovery agent as on date.
approach the Borrower

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(Leegality.com - IR210AF606) NEHA AJAY SINGH
NIKITA AJAY SINGH AJAY KUMAR SINGH
Date: Thu Sep 05 11:15:52 IST
Date: Tue Sep 03 19:54:07 Date:
IST Wed Sep 04 11:43:08 IST2024
2024 2024
 Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

c) Name, designation, address, and phone number of nodal Ms. Vaijayanti Albal Sharma
grievance redressal officer designated specifically to deal with Grievance Redressal Officer & Principal Nodal Officer
FinTech/ digital lending related complaints/ issues HDFC Credila Financial Services Limited B 301, Citi Point,
Next to Kohinoor Continental,
Andheri-Kurla Road, Andheri (East),
Mumbai - 400 059, Maharashtra, India
Email: [email protected]
Phone: +91 253-6715408
For more details: https://www.hdfccredila.com/customer-
service/grievance-redressal-mechanism.html
d) Place Of Arbitration/Jurisdiction As per the Jurisdiction clause mentioned in the loan agreement.

* Origination fee is non-refundable and to be paid by customer upfront as processing fees

^ Insurance amount is deducted from Sanction amount only if Insurance is funded by HDFC Credila. Further the insurance amount
mentioned above is indicative in nature, the final insurance amount shall be determined after actual assessment by the respective insurance
company
^^ APR is Effective annualized interest rate computed on sanction amount (item 2) – Other Up-Front Charges (item 4) using XIRR approach
and reducing balance method)
** The PMII, MI, Fee or any other Charges or any other amount mentioned in KFS shall be rounded off to nearest rupee.

# Cooling off period starts from the date of first disbursement.

Note: HDFC Credila shall have the right, at its sole discretion, at any time and from time to time, to vary, revise or modify the education loan
agreement, together with all annexures, schedules, letters, applications, deeds and other allied documents including MITC, key fact statement
or instruments, or any other communication in writing, if any, whether attached herewith or to be attached in future, from time to time,
forming part of this education loan agreement. GST, other government taxes and levies as applicable, will be levied on all fees and charges
in this document.

Brief Procedure to be followed for recovery of overdue in case of default in repayment of PMII/MI:
a. Borrower(s) are explained the repayment process of the Outstanding Education Loan in respect of tenure, periodicity, amount and mode
of repayment of the Education Loan facility. On non-payment of PMII/MI on the relevant due dates, HDFC Credila shall remind the
Borrower(s) by making telephone calls, sending written intimations by post and electronic medium or by personal visits undertaken by
HDFC Credila’s authorized personnel at the addresses provided by the Borrower(s). Costs of such calls/communication /visits shall be
recovered from the Borrower(s). Notwithstanding whatis stated herein,it shallbe the liability of the Borrower/s to ensure that the
PMII/MI are regularly paid on the relevant due dates.

b. On default in repayment of PMII/MI, a loan is tagged as a Special Mention Account (SMA). It is further classified as per the following
categories for term loans:
SMA Sub-categories Basis for classification– Principal or interest payment or any other amount
wholly or partly overdue
SMA-0 Upto 30 Days

SMA-1 More than 30 days and upto 60 days

SMA-2 More than 60 days and upto 90 days

Non-Performing Asset (NPA): If any PMII / MI remains overdue for more than 90 days from the due date, the loan account would be
classified as a NPA as per the extant prudential norms of the Reserve Bank of India. The classification of SMA/NPA will be done daily.

Example: The PMII / MI for a loan account is due on December 11, 2021. If full dues (PMII / MI amount) are not received before the
Company runs the day-end process for this date, the date of overdue (SMA-0) shall be December 11, 2021. If it continues to remain
overdue, then this account shall get tagged as SMA-1 upon running day-end process on January 10, 2022 i.e. upon completion of 30
days of being continuously overdue. Accordingly, the date of SMA-1 classification for that account shall be January 10, 2022. Similarly,
if the account continues to remain overdue,it shall get tagged as SMA-2 upon running day-end process on February 9, 2022 and if
continues to remain overdue further, it shall get classified as NPA upon running day-end process on March 11, 2022.

Post NPA classification, the account will be upgraded to 'Standard' only if the entire arrears of interest and principal are paid

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eSigned using Aadhaar eSigned using Aadhaar NEHA AJAY SINGH
(Leegality.com - IR210AF606)
(Leegality.com - IR210AF606)
NIKITA AJAY SINGH AJAY KUMAR SINGH Date: Thu Sep 05 11:15:52 IST
2024
Date: Tue Sep 03 19:54:07 Date:
IST Wed Sep 04 11:43:08 IST
2024 2024
 Document ID: IR210AF606 Stamp Sr. No.: 95AB 210006

by the borrower. For example, when a loan account is classified as an NPA on December 11, 2021 and has four instalments overdue,
said loan will not be upgraded to ‘Standard’ even if the borrower repays three instalments on December 12, 2021 and the loan account
will be upgraded to ‘Standard' only when the remaining overdue instalment is also repaid and there is no overdue in the account.

c. Credit information relating to any Borrower(s) account is provided to TransUnion CIBIL Limited (“CIBIL”) or any other licenced
bureau on a monthly basis. To avoid any adverse impact on the credit history with CIBIL, it is advised that the Borrower(s) should
ensure timely payment of the amount due in relation to the Outstanding Education Loan Facility amount.

d. The recovery process of enforcement of mortgage/securities, including but not limited to, taking possession and sale of the mortgaged
property in accordance with the procedure prescribed under the Securitisation and Reconstruction of Financial Assets and Enforcement
of Security Interest Act, 2002 (“SARFAESI Act”) or under any other law, is followed purely as per the directions laid down under the
respective law. Intimation/Reminders/Notice(s) are provided to Borrower(s) prior to initiating steps for recovery of overdues under
Negotiable Instruments Act, Payment and Settlement Act, Civil Suit, SARFAESI Act or any other Applicable Law.

e. Arbitration: All the disputes, differences between the parties shall be referred for arbitration to a sole arbitrator to be appointed by
HDFC Credila. The arbitration shall be conducted in accordance with the provisions of the Arbitration and Conciliation Act, 1996 as
amended from time to time. The venue of arbitration proceedings shall be Mumbai or any other place within the territory of India that
HDFC Credila may deem convenient for the purpose of administering dispute in relation to Education Loan Facility, and the Borrowers
hereby agree to abide by the choice of HDFC Credila in relation to place of arbitration. The language of the arbitration proceedings
shall be English. Alternatively, and without prejudice to the rights and remedies of HDFC Credila mentioned herein, HDFC Credila
shall have sole discretion and/ or exclusive rights to invoke any other remedies against the Borrowers under Applicable Law for any
events of default and/or breach of any term or condition, covenant, and undertakings in connection with the Education Loan Facility.

f. Jurisdiction: In case of default, legal action will be taken in courts of competent jurisdiction at such place where the collateral security is
located, and in the event no collateral security has been provided to HDFC Credila, then courts of competent jurisdiction at Mumbai.
However, HDFC Credila shall not be prevented from taking proceedings relating to dispute in any other courts and tribunals with
jurisdiction at its discretion and convenience including jurisdictions where the Borrowers are then residing and/or employed and/or at
the place of occurrence of Event of Default and/or any at place where cause of action arose between the Parties out of this MITC.

Privacy Policy: Please refer to the privacy policy on: HDFC Credila Data Privacy Policy.pdf
LSP Details: Please click on link: Here

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AJAY KUMAR SINGH NEHA AJAY SINGH
NIKITA AJAY SINGH
Date: Wed Sep 04 11:43:08 IST Date: Thu Sep 05 11:15:52 IST
Date: Tue Sep 03 19:54:07 IST 2024
2024 2024