Credila Instructions V2

INSTRUCTION MANUAL
FOR FILLING IN THE CREDILA STUDENT LOAN

APPLICATION FORM
INDEX
SR. NO. PARTICULARS PG NO.
1 Important Note 2
2 Preface To This Instruction Manual 2
3 General Instructions 2
4 Section A: Application For Education Loan 3
5 Section B: Student Details 4
6 Section C: Course Details 8
7 Section D: Calculation Of Loan (In Rupees) 11
8 Section E: Co-Borrower Details 13
9 Section F: If Salaried 17
10 Section G: If Self Employed Professional or In Business 20
11 Section H: Financial Information (In Rupees) 24
12 Section I: Reference of Student and Co-borrower 26
13 Section J: Collateral Information 27
14 Section K: Checklist of Supporting Documents 31
15 Section L: Declarations 32
16 Section M: Acknowledgement 32
17 Section N: Additional Co-Borrower Details 33
18 Section O: If Salaried 34
19 Section P: If Self Employed Professional or In Business 34
20 Section Q: Guarantor Details 35
21 Section R: Reference of Additional Co-borrower and Guarantor 35
22 Section S: Photo of Additional Co-borrower and Guarantor 36
23 Non-Resident Indian (NRI) Co-Borrowers 36
24 Annexure “A” - Guidelines For Supporting Documents To Be Submitted 38
Along With The Credila Application Form
• Application Form 38
• Two Photographs Of Student And Co-Borrower 38
• Photo ID Proof Of Student And Co-Borrower 38
• Residence Proof Of The Student And Co-Borrower 40
• Date Of Birth Proof Of The Student And Co-Borrower 41
• Signature Authentication From Bank Of The Student And Co- 41
Borrower
• Academic Documents Of The Student 42
• Proof Of Admission From The Institute 42
• Fee Structure From The Institute* 43
• Scholarship Proof 43
• Banking Statements Of The Co-Borrower /Student (Part Time 44
Course By Working Executive)
• Income Proof Of The Co-Borrower /Student (Part Time Course By 44
Working Executive)
• Collateral Documents 44
• Other Supporting Documents 47
• Sequence Of Documents In The Customer File 48
25 Annexure “B” – List Of Preferred Co-Borrower and Collateral Locations 49
26 Annexure “C” – Signature Authentication Format 52
27 Annexure “D” - Draft Format of the NOC (No Objection Certificate) from the 53
Co-operative Housing Society
© Credila Financial Services Proprietary and Confidential Ver 2.0 Page1

IMPORTANT NOTE: The illustrations and instances given in this instruction manual are
completely imaginary, any matches or similarities found in respect to any person would be
purely coincidental and unintentional.
PREFACE TO THIS INSTRUCTION MANUAL:

The Credila Student Loan Application Form is an important document which captures
important information from the student and the co-borrower required by the Credit and
Underwriting Team of Credila to process the loan application. Hence we request you to
kindly read the set of instructions given below in this manual before filling in the
Credila Student Loan Application Form and ensure that the Application Form is
completely filled in without leaving any blanks so that your loan application can be
processed smoothly without any undue delay for want of information.
Also note that Credila does not take any payment by way of cash or cheque along with
the Application Form, the processing fee and any servicing fee which may be
applicable would be intimated on sanction and would need to be paid only at the time
of disbursement of the case. Do not enclose any payment whether by way of cash or
cheque or demand draft towards any processing fee or servicing fee along with the
Application Form and supporting documents.
GENERAL INSTRUCTIONS
Kindly ensure:
1) That the set of instructions (specially the co-borrower and collateral norms) are
properly read and understood before filling in the Application Form.
2) The loan amount applied should be a minimum Rs. 1 lac but should not exceed Rs.
20 lacs; suitable co-borrower/s and collateral/s fulfilling the co-borrower norms and
collateral norms respectively as laid down by Credila and enumerated in the relevant
sections of this Instructions Manual should be cited before filling up the Application
Form and their relevant details should be filled in the Application Form.
3) The Application Form is filled in CAPITAL/ BOLD letters and though there is no
mandatory requirement but we urge the students and co-borrowers to fill in the
Application Form in black ink or dark blue ink.
4) The Application Form is not left blank, in case the field is not applicable, kindly strike
it off or simply put a “Not Applicable” or “NA” in the respective fields.
5) Any alterations/ corrections or modifications should be authorised by the concerned
person to whom those details concern by initialling the same. E.g. if the income of the
co-borrower is altered then this alteration should be initialled by the co-borrower and
not by the student.
6) Ensure that the addresses filled in are complete and appropriate, landline
numbers; mobile numbers. and the email IDs are correct. Please read the
instructions pertaining to this carefully before filling in the Application Form.
7) Please read the instructions provided below for filling in the Application Form in case
of Non-Resident Indian (NRI) co-borrowers.
8) Wherever check boxes are provided with options, kindly tick (√) the right option
instead of circling the right option or simply striking out the inappropriate or incorrect
option.
9) Kindly ensure that you have taken reasonable care to ensure that all the details
provided herein the Application Form are true, accurate and correct and to the best of
your knowledge and belief. Since any misstatement in the Application Form may be
taken as a misrepresentation or wilful act of omission or commission and not to
mention that this would unnecessarily lead to delay in processing your application.
It may also be noted that in addition to the Loan Application form, there are other documents
such as Banking statements, Income documents, KYC documents, Collateral documents,
Course related documents, Academic records, etc. which are required to process the loan
application of a student. These supporting documents should be photocopies (KINDLY DO
NOT FORWARD ORIGINAL DOCUMENTS FOR PROCESSING OF THE APPLICATION
FORM. CREDILA WOULD NOT TAKE THE RESPONSIBILITY OF LOSS OF SUCH

ORIGINAL DOCUMENTS IN TRANSIT OR OTHERWISE). Moreover, kindly ensure that the
photocopies of documents submitted along with the Application Form should be self-attested
by the respective person and should fulfil the documentation norms as provided hereunder as
Annexure “A”.
PAGE 1 OF THE CREDILA STUDENT LOAN APPLICATION FORM
SECTION A - APPLICATION FOR EDUCATION LOAN
TOP LEFT HAND STUB OF THE APPLICATION FORM

In the space provided for in the Application Form, the student and his/her co-borrower (please
refer the norms/ guidelines on co-borrower as provided in Section E) is expected to affix their
recent photographs. The photographs should be:
1. Passport size photographs (Size: 4.0cm x 3.5cm)

2. Recent coloured photographs only
3. Photographs should not have anything written or stamped on it.
4. The student should sign across his/her photograph with a portion of the signature on
the application form and the remaining portion of the signature on the photograph.
Similarly the co-borrower should also sign across his/her photograph with a portion of
the signature on the application form and the remaining portion of the signature on
the photograph.
5. Another set of photographs of the student and co-borrower should be separately
stapled to the top middle portion of the application form (marked in a red x in the
above graphical illustration of the Application Form) with the name of the respective
person written on the back/ reverse of the photograph.
The Loan amount in words and figures as provided in the space below the photograph may
be filled in and it should be ensured that :
1) the loan amount in words and figures should match and

2) the amount matches with the amount given in the working provided in the Loan Required
(Total A – Total B) of section C “Calculation of Loan Amount (In Rupees) on Page No.2.
Do not fill in any details or make any marks in the extreme right hand portion which is
for official use and would be filled in by Credila’s officials for internal reference.

SECTION B: STUDENT DETAILS
The Student should be an Indian citizen of at least 18 years of age and pursuing further
education, such education course may be either full time or part time or distance
learning course.
Point # 1 – Name
The student is expected to write his/her complete name (i.e. the First name, Middle Name and
Surname) as it appears in his/her official records and/or academic records as the case
may be. Kindly refrain from the use of any alias names or initials and ensure that the full
name is written, unless the person does not have a middle name. In cases, where a person
does not have a surname but instead uses his/her family name or village name or only
father’s name, then such family name/ village name/ father’s name may be filled in place of
the surname. E.g. Do not enter your name as Vikas R. Modi if the complete name is
Vikaskumar Ramnick Modi, please enter the complete name “VIKASKUMAR RAMNICK
MODI” as it would appear in your records. Similarly, if your name is PONNUSWAMY
KUMARAN kindly write the complete name as it would appear in your official records instead
of using initials and writing the name as “P. KUMARAN”.
Point # 2 – Father’ Name

The student is expected to write his/ her father’s complete name (i.e. the First name,
Middle Name and Surname) as it appears in his/her official records, similar to his / her
Name, the use of any alias names or initials and ensure that the full name is written,
unless the person does not have a middle name. In cases, where a person does not have a
surname but instead uses his/her family name or village name or only father’s name, then
such family name/ village name/ father’s name may be filled in place of the surname.
Important: Ensure that the father’s name matches with the name provided in the
student’s other official documents such as your passport, PAN Card, Voter’s ID, etc.
Also in case one’s father has expired, please prefix the name with “Late” e.g. If
Vikaskumar Ramnick Modi’s father’s name is Ramnick Mahendra Modi who is no
longer present with us, then the father’s name would be filled in as “LATE RAMNICK
MAHENDRA MODI” and not “RAMNICK MAHENDRA MODI”.
Point # 3 - Date of Birth

Kindly enter the student’s official date of birth as it appears in your official records and
supporting KYC (Know Your Customer) documents. The format for entering your date of
birth is DD/MM/YYYY, where “01” stands for January, “02” stands for February while “12”
stands for December. Hence if your date of birth is on 28th August 1977 kindly write it as
2 8 0 8 1 9 7 7
Point # 4 – Gender
Kindly tick (√) Male or Female depending on the gender of the student as the case may be in
the appropriate check box, do not circle or strike off the other option.

Point # 5 – Marital Status
Kindly tick the relevant option depending on the marital status of the student viz. whether
Single (i.e. unmarried) or Married (even in cases where the person is divorced or separated)
or Widow/er (i.e. in case one’s spouse has expired).
Point # 6 - Mother’s Maiden Name

Kindly fill in the student’s mother’s maiden name i.e. mother’s complete name before her
marriage as it appeared on her official records then on the same parameters as provided in
point # 1 above.
Point # 7 – Present Residential Address

Kindly understand the difference between permanent residential address and the
present residential address which needs to be filled in the Credila Student Loan
Application Form
This would need to be filled in most carefully after due thought and consideration depending
on the nature of course being undertaken by the student (full time or part time) and whether
he/ she would continue to reside in the same premises during the continuance of the course.
In case the student (not staying with his parents/ guardians) is not going to leave his present
domicile and would pursue the course in the same location – on a part time basis as a
working executive, then in such case the student needs to fill in the present residential
address where he/ she is presently residing. In case the student is staying in hostel/ rented
accommodation presently where none of his/her family members are residing at; which
he/she would change on account of his/her proposed course in another location/ city/ country,
then the present residential address of his/her father/ guardian would need to be filled in
where his/her father/ guardian could be contacted in the normal course. E.g. a student is
staying in Mumbai on rent, while his father is staying on rent at Bangalore while his native
place is in Ernakul is going to study at IIM Ahmedabad; in such a case the student would fill
his father’s Bangalore rental address as his present address.
Kindly note that there is separate space in the address sections for filling in the City, State,
Postal Code and country. Kindly ensure that the address provided is complete with complete
Postal Code so that communication can be sent easily through post / courier/ any other mode.
- Permanent Residential Address

This is an important field which would need to be filled in most carefully after due thought and
consideration. The permanent residential address would be the address where the student’s
father/ guardian hails from or has a self-owned house, such residence should be either in the
nature of a self owned/ ancestral/ family owned house and should not be rented or leased
premise (unless the lease is of perpetual nature or on pagadi system). This would generally
be based at a location from where one’s forefathers hailed or where one’s forefathers have
settled for a long period of time (ranging from around 20-25 years and which can go upto
generations) or could even be another location where the family has settled for a fairly long
time and have their own self-owned house. It is not necessary or mandatory that such
property may be in the name of the student’s father, it may be in the name of any his family
members like grandfather, uncle, etc.
This can be understood more clearly through this simple grid:

Student is going to pursue a full time Student is going to pursue a part
course / part time course in another time course in same location
city/ location
Student is staying Student is not Student is staying Student is not
in the same staying along with in the same staying along with
premises as his/her father / premises as his/her father /
his/her father / guardian his/her father / guardian
guardian guardian
Present The address The address The address where the student is
Residential where both the where student’s residing should be filled in the
Address student and father/ guardian Application Form
his/her father/ are presently
guardian are residing should be
presently residing filled in the
should be filled in Application Form

the Application
Form
Permanent Address where the student’s father/ guardian hails from or have a self-owned
Residential house, such residence should be in the nature of a self owned/ ancestral/ family
Address owned house and should not be rented or leased premise (unless the lease is of
perpetual nature or on pagadi system). This would generally be based at a location
from where one’s forefathers hailed or where one’s forefathers have settled for a
long period of time (ranging from around 20-25 years and which can go upto
generations) or could even be another location where the family has settled for a
fairly long time and have their self-owned place. It is not necessary or mandatory
that such property may be in the name of the student’s father, it may be in the
name of any his family members like grandfather, uncle, etc.
CONT’D - SECTION B: STUDENT DETAILS
Point # 8 – Landline No. (Present)

Kindly correctly fill in the landline number of MTNL/ TTML/ Reliance/ BSNL/ any other
telephone operators in respect of the address as provided in point # 7 – present residential
address in the spaces provided in the following manner : Code-Landline number. E.g. 022-
28256636. In case there is no landline number, kindly mention “NA” in the space provided,
but do not leave the field blank or fill in your mobile number instead.
Point # 9 – Landline No. (Permanent)

telephone operators of the address as provided in point # 7 – permanent residential address
in the spaces provided in the following manner : Code-Landline number. E.g. 022-28256636.
In case there is no landline number, kindly mention “NA” in the space provided, but do not
leave the field blank or fill in your mobile number instead.
Point # 10 – Email ID
Kindly provide the student’s personal email ID, ensure that it is correct. Do not provide the
student’s official email ID (in case the student is going to pursue a full time course) or any
other temporary e-mail ID.
Point # 11 – Mobile No.

Kindly correctly fill in the student’s present mobile number in the space provided.
Point # 12 – Name of the Bank, Branch, Bank A/c No, A/c Type
Kindly fill in the student’s main operating bank name, branch name, a/c number and a/c type.
This should preferably be from a Scheduled Commercial or Scheduled Co-operative bank and
from the same bank a/c from where the signature verification is provided. Also ECS
(Electronic Clearing Services) and Security PDCs (Post Dated Cheques) would be provided
from the same bank account (in case of part time course where the student is not leaving his
employment).

Point # 13 – PAN No.
Kindly fill in the student’s PAN No. as appearing in the PAN card of the student, in case the
student has applied for a PAN No. please mention “APPLIED FOR” & if possible write the
date on which the application was accepted by the Income Tax Department next to box
provided for filling in the PAN No and in case the student has no PAN No nor has applied for
one then please mention “NA”.
Point # 14 – Passport
Please tick mark the appropriate check box “Yes” or “No” depending on whether the student
has a valid passport on the date of application irrespective of whether the passport is being
provided as a identity or address proof document. If Yes, please mention the passport
number as mentioned on your passport. Kindly note that passport is a mandatory document in
case the student wants to pursue a course overseas (outside India) irrespective if the student
provides any other document as identity or address proof.
Point # 15 – Last Degree Received (if any)

Kindly fill in the last degree completed by the student. In case the student has given up
studies before completion of his/her graduation in the midst of the second year itself; but
wishes to pursue a technical or vocational course such as aviation course (CPL). He/ she
would need to mention “HSC” since he/ she has not completed the graduation degree.
Point # 16 – Name of Last University Attended

Kindly fill in the name of the university under which the last college / educational institute
attended by the student in the last year came under. In case the college / educational institute
was not forming a part of any university then please mention “NA” in this field and write the
name of the college / educational institute under the next point # 17 i.e. Name of Last College
Attended”.
Point # 17 – Name of Last College Attended

Kindly fill in the name of the last college / educational institute attended by the student in the
last year and do not use the terms college and university synonymously.
Point # 18 – Education Details of the Student

Kindly fill in the details as appearing on the Marksheets into the table provided in the
Application Form. E.g. in case at SSC the student scored 76.87% in March 1995, then under
the 10th column, mention 1995 in the first row against year of passing and 76.87% in the
second row against % of marks obtained. This would need to be filled in for all subsequent
years of graduation after the Std 12th. Please strike off Year 4 and 5 if not applicable. In case
of engineering students who are assessed semester wise, may provide the average % marks
of their two semesters for that year of graduation in the space provided and fill in the year in
which the second semester for that year was completed in “Year Completed”. E.g. if an
engineering student has completed his second year engineering by giving his semester 3 in
November 2005 with 58.50% and his semester 4 in April 2006 with 54%. In that case the
student in the appropriate year column would enter 2006 as Year Completed in row 1 and
accordingly enter the average of the marks obtained in the two semesters for that year viz.
56.25% in % of marks obtained. The student may also update some other examination
passed in the column provided at the end (Year 4th and / or 5th accordingly as the case may be
simply by filling in the details as stated above but by noting in brackets, the name of the
professional examination passed e.g. if a student after completing his three years of
graduation may want to enter his CS final examination marks in the last column (Year 4th) by
simply writing “CS” in brackets next to the heading Year 4th.
Points # 19 and 21 – Name of the Entrance Test 1 and Name of the Entrance Test 2
Please note that space is provided to give the details of two entrance or qualifying tests or
English proficiency tests required as a pre-qualification before seeking admission to an
institute / college / University such as GRE, GMAT, SAT, TOEFL or any other qualifying exam
or otherwise known by any other name. In case more than two tests have been cleared by the
student, then the student may fill in the names of more than one entrance test in the space

provided separated by commas (,) and their respective scores or grades could be provided
respectively in the same order in which their names have been filled in.
Points # 20 and 22 – Score of the Entrance Test 1 and Name of the Entrance Test 2
Please fill in the score or grade secured in the entrance or qualifying tests or English
proficiency tests required as a pre-qualification before seeking admission to an institute /
college / University such as GRE, GMAT, SAT, TOEFL or any other qualifying exam or
otherwise known by any other name. In case more than two such tests have been cleared
and more than one such test has been filled in the points nos. 19 or 21 then ensure that the
scores or grades are given in the same order in which their names have been filled in.
SECTION C: COURSE DETAILS
Point # 1 – Course of Study

Kindly fill in the course that the student intends to pursue for which funding is sought from
Credila. The name of the course should match with that given in the Admission Letter from
the College/ University/ Education institute or as stated on the website or prospectus of the
institute / college (in the absence of such letter, where it is not a practice of the Institute /
College to provide such letters).
Point # 2 – University / Education Institute

Kindly fill in the name of the university / education institute conducting the course that the
student intends to pursue for which funding is sought from Credila. The name of the university
/ education institute should match with that given in the Admission Letter from the College/
University/ Education institute or as stated on the website or prospectus of the institute /
college (in the absence of such letter, where it is not a practice of the Institute / College to
provide such letters). This is important since the cheque/ draft/ any other payment
instrument would be drawn in this name.
Point # 3 – University / College Address

Kindly fill in the complete address of the university / education institute conducting the course
that the student intends to pursue for which funding is sought from Credila. The address of
the university / education institute should be complete in terms of Postal Code and other
details sufficient for ensuring communication through post / courier / any other mode of
communication. Also the complete telephone numbers, extension number (if applicable) and
fax numbers should be provided complete with the country code-city code-telephone/landline
numbers. Moreover the address should match with that given in the Admission Letter from the
College/ University/ Education institute or as stated on the website or prospectus of the

institute / college (in the absence of such letter, where it is not a practice of the Institute /
College to provide such letters).
In addition to the postal address of the university / college / institute, the institute’s email ID or
the concerned contact person’s official email ID should necessarily be provided. Please
ensure that the email ID has been correctly filled in.
Point # 4 – Course Duration

Kindly fill in the duration of the course (No. of years) which the student intends to pursue and
for which funding is sought from Credila. The duration of the course should match with that
given in the Admission Letter from the College/ University/ Education institute or as stated on
the website or prospectus of the institute / college (in the absence of such letter, where it is
not a practice of the Institute / College to provide such letters).
In case the student proposes to do a course of duration 10 months, one may fill in “01” as the
number of years for course duration. Alternatively if the duration of a course is 16 months
then one may fill in the duration as “01” also. However in case the duration exceeds more
than 18 months i.e. 1.5 years one may fill in the duration as “02”.
PS: Please note that course duration refers to the entire course duration and not the
duration of the course pending on the date of filling in the Application.
Point # 5 – Part Time or Full Time

Please tick mark the appropriate check box “Full Time” or “Part Time” or “Distance Learning”
as given in the Admission Letter from the College/ University/ Education institute or as stated
on the website or prospectus of the institute / college (in the absence of such letter, where it is
not a practice of the Institute / College to provide such letters).
There is a thin line of distinction between Part Time and Distance Learning which needs to be
understood. Part Time courses involve the student being domiciled in the same city in which
the course lectures happen wherein he / she attends the lectures for 2 -3 hours generally after
normal working hours while Distance Learning involves the student pursuing the course from
either the same city / location in which the institute / college / university is located or some
other city /location either in India or in some case even abroad, though the student may have
to travel to the city/ ies where the exams in respect of the same course is being conducted,
which may include the city/ location in which the institute / college / university is located but
may not be restricted to that city/ location.
Point # 6 – Date of Commencement of Course

Please fill in the date on which the course would tentatively commence, in case you are
applying for a refinance or for funding for the subsequent year/s, then you would need to fill
“STARTED” in the space provided.
Point # 7 – Last Date to Pay Fees

Kindly fill in the last date to pay the fees to the College / University / Institute without any late
fees. This should be the same date as mentioned in the Admission Letter from the College/
University/ Education institute or as stated on the website or prospectus of the institute /
college (in the absence of such letter, where it is not a practice of the Institute / College to
provide such letters).
Point # 8 – Admission Type

Please tick mark the appropriate check box provided – Open, Management Quota, Reserved
Quota, Handicapped Quota or NRI quota (any one of the following) depending on the nature
of the student’s admission.
- If the student has got admission into the course through his/her own merit after
meeting the selection criteria as stipulated by the university/ educational
institute therein, one would need to tick “Open”.
- If the student has got admitted through the reference of some trustee of the
University / Institute, he/she would need to tick “Management Quota”.

- If the student has got admitted through the Freedom Fighter’s quota,
reservation for backward castes and tribes, Children of defence personnel, etc;
then he/she would need to tick “Reservation Quota”.
- If the student has got admitted through the reservation for handicapped
students; then he/she would need to tick “Handicapped Quota”.
- If the student has got admitted through the reservation for NRI students/
students of PIO status; then he/she would need to tick “NRI Quota”.
Point # 9 – Study Location

This is self-explanatory, the student would need to tick appropriate check box stating the
location of his/her study whether it is India, USA, UK, Australia or any other country. In
case, of any other country other the ones mentioned, the student would need to mention the
country (please differentiate between the name of a country from the name of the city, town,
district or state in which the institute / university is located) to which he would be going to
study. E.g. if a student is going to The University of Auckland in Auckland, New Zealand, the
student would need to tick “Other Country” and write the name of the country as “New
Zealand” and not “Auckland”. Similarly, for schools like London School of Business, London,
England, one would need to tick mark “U.K” and not tick mark “Other Country” and write
England or the city/ district name in which the university/ education institute is located i.e.
England. For the sake of convenience, one should note that UK (United Kingdom) is a unitary
state comprising of the following countries viz. England, Wales, Northern Ireland and
Scotland. It does not include Ireland which is separate from the United Kingdom.
Also, in case a US based business university has its affiliate institute in India which conducts
its course in various major locations across India, then the study location would be “India”
where the student would be residing to attend his/her course and not “USA” where the
institute has its accreditation/ registration.
Point # 10 – Course Type

This is self-explanatory, the student would need to tick appropriate check box of the course
type that he would be taking up; in case he/ she is taking a Mechanical Engineering Course,
he would simply tick “Engineering (Other)” {since Engineering (Mechanical) is not covered in
the option provided above} and write Mechanical in the blank provided next to the option
“Engineering (Other)”. In case of any other course, say Hotel Management one would need to
tick mark “Others” and write “Hotel Management” in the space provided next to that option.
Point # 11 – Parent is in the same profession as course of study

This is self-explanatory, the student would need to tick appropriate check box “Yes” or “No”
depending on the case. E.g. if a student is going for a Commercial Pilot course and if either
his/her father / mother is a pilot, then he would tick “Yes” else he would tick “No”. Please note
that this does not include relatives such as brothers, sisters, brother-in-law, sister-in-law,
parent-in-law, uncle, aunty, etc. In case, one of these relatives of the student are in the same
course of study while one of their parents are not, then the student would need to tick “No” as
the option.

SECTION D: CALCULATION OF LOAN (IN RUPEES)

The loan amount required should be a minimum of Rs. 1 lac but should not exceed Rs.
20 lacs.
This table intends to capture the details of the funding (loan) requirement and ascribes the
total costs of the course along with the funds available thereby arriving at the loan
requirement. This needs to be carefully filled in as per the parameters provided herein below:
- All figures in the table have to be strictly provided in Indian Rupees only. In case the
admission letter provides the fees in foreign currency like US Dollars ($) or UK Pounds,
etc. The same would need to be converted at the approximate prevailing rates of
exchange on the date of the application (kindly note that the conversion costs should not
be factored into the exchange rate since that would need to be borne by the student/co-
borrower). This could be procured from either the rate in the leading newspapers
circulating nationwide or from the RBI website on the following URL -
http://www.rbi.org.in/scripts/ReferenceRateArchive.aspx (it may be noted that this URL on
the RBI website would provide the exchange rates for USD, UK Pound, Yen and USD
only)
A) Purpose
- The break-up of the various components of the course costs would need to be given year
wise and the number of years for which the costs break up is given would match with the
duration of course given in point # 4 of section C (in case the funding is sought from the
first year itself)
- The figures for tuition fees, examination fees, cost of study materials (which would include
purchase of laptop where stipulated as required for the course) and living expenses
including the hostel & food expenses would be procured from the Admission Letter from
the University/ Institute or from the website or prospectus as the case may be. Similarly,
the travelling expenses would be funded for the economy class fare of any airlines
subject to a maximum of Rs. 50,000/- and the amount could be derived from quotation
from a travel agent/ fare stated on the website. All these figures would be denominated in
Indian Rupees in the table, if the quote is available in foreign exchange, it would need to
be converted to Indian Rs. at the prevailing inter-bank foreign exchange rates without
factoring the conversion costs. In case of any other head of expense, then the same may
be converted into equivalent Indian Rupees.

- Also it may be possible that a student has gone abroad earlier and who after managing
the expenditure for the first year requires funding for the subsequent years. E.g. in case a
student has gone to the USA for a three year MBA course last fall and now requires
funding for the next two years. In that case, the expenses for Years 2 and 3 would need
to be filled in columns “2nd Year” and “3rd Year”. While the other columns viz. “1st Year”,
“4th Year” and “5th Year” would be struck off with a “ - ” or “N.A” and the totals of all
columns is taken in the last column to the right “Total”. The Year wise totals are taken in
the row “Total A”; these row-wise totals should be totalled in the last field to the right in
the total column.
B) Funds Available
- The student is expected to fill in the funds being brought in by the student either from
his/her own sources or by way of scholarships or by some other means. This would also
need to be stipulated in Indian Rupees.
- It may be noted that one would need to take columnar totals as well as row wise totals
- Finally the total in part A minus part B would derive the Loan Required (Total A – Total B)
which would total up in the last column “Total” to derive the Total Loan Required. This
amount should match the Loan Amount given on the top stub of the first page of the
Application Form below the photograph space. E.g. If the total loan derived in this working
is Rs.19,52,000/- then the Loan amount given on the first page below the photograph
should also be Rs. 19,52,000/- (Rupees Nineteen Lacs Fifty Two Thousand Only) instead
of any approximations like Rs. 19.50,000/-.
Please go through the illustration below:

A student intends pursuing a two year course in MS in Computer Science in USA, the fee structure as
per the Admission Letter of ABC University is as follows: Tuition Fees – US$ 18,500/- per annum, living
expenses (hostel and food expenses) works out to US$ 250/- per week (assume 52 weeks in a year);
the Examination Fees works out to US $ 500/- per annum; Cost of Books & Periodicals works to another
US$ 750/- per annum. The travelling expenses have been estimated at INR 32,000/-. The student would
be getting a scholarship of $ 5,000/- and a sponsorship of Rs. 2.5 lacs from XYZ trust in his first year
and would arrange for Rs. 4.55 lacs in the first year and Rs. 4 lacs in the subsequent year. The current
foreign exchange rate as on date (Nov 12, 2008) being Rs. 50/- (this is taken for the sake of ease of
calculation and understanding for the readers) would be calculated accordingly as per the appended
table:
A) Purpose 1st Year 2nd Year 3rd Year 4th year 5th Year Total
1) Tuition Fees 925,000 925,000 - - - 1,850,000
2) Examination Fees 25,000 25,000 - - - 50,000

3) Cost of Study
Materials 37,500 37,500 - - - 75,000
4) Travelling
Expenses 32,000 - - - - 32,000
5) Hostel & Food
Expenses 650,000 650,000 - - - 1,300,000
Total A 1,669,500 1,637,500 - - - 3,307,000
B) Funds Available
1) Own Sources 455,000 400,000 855,000
2) Scholarships 250,000 - - - - 250,000
3) Others 250,000 - - - - 250,000
Total B 955,000 400,000 - - - 1,355,000

Loan Required
( Total A - Total B) 714,500 1,237,500 - - - 1,952,000
Point # 10 – Describe in details from where the funds are available

In a couple of lines, elaborate the exact sources from which the scholarship or sponsorship is
provided. E.g. Rs. 4.55 lacs would be obtained from selling shares and other personal

sources in the first year, Rs. 4 lacs in the second year would be procured from father’s PF
and a loan of Rs. 1.5 lacs from uncle; sponsorship of Rs. 250000/- from XYZ charitable trust,
$ 5000/- scholarship from ABC University
SECTION E: CO-BORROWER DETAILS
The co-borrower should be an Indian citizen preferably based in one of the locations
given in Annexure “B” who would agree to co-sign & execute the loan agreement &
other documentation; who is able as well as promises to service the interest in the
moratorium period comprising of the study period and grace period & in the event of
the student’s inability to repay the loan would repay the installments of the loan and /
or provides the collateral security.
A co-borrower based in India is mandatory even in case of a loan taken by a working

executive and may be the parent, brother, sister, any other relative or friend of such
student. In case the student is going to pursue a part time course in the same location
and would continue with his present job then in such cases there would be no strict
requirement of taking an earning co-borrower only, in such case the one of the
student’s parents/ guardian, even if a pensioner could be brought into the loan
arrangement. However, where the student would be pursuing a full time course, in that
case an earning co-borrower with ability to service the interest component during the
study + grace period would be sought as far as possible.
Point # 1 – Name
The co-borrower is expected to write his/her complete name (i.e. the First name, Middle
Name and Surname) as it appears in his/her official records as the case may be. Kindly
refrain from the use of any alias names or initials and ensure that the full name is written,
unless the person does not have a middle name. In cases, where a person does not have a
surname but instead uses his/her family name or village name or only father’s name, then
such family name/ village name/ father’s name may be filled in place of the surname. Please
refer to the detailed guidelines and illustrations given in respect of filling in the Student’s
Name– point # 1 of section B.
Point # 2 – Father’ Name

The co-borrower like the student is expected to write his/ her father’s complete name
(i.e. the First name, Middle Name and Surname) as it appears in his/her official records,
similar to his / her Name, the use of any alias names or initials and ensure that the full
name is written, unless the person does not have a middle name. In cases, where a person
does not have a surname but instead uses his/her family name or village name or only
father’s name, then such family name/ village name/ father’s name may be filled in place of
the surname. Please refer to the detailed guidelines and illustrations given in respect of filling
in the Student’s Father’s Name– Point # 2 of Section B.
Point # 3 – Date of Birth

Kindly enter the co-borrower’s official date of birth as it appears in his/her official records and
supporting KYC documents. The format for entering one’s date of birth is DD/MM/YYYY,
where “01” stands for January, “02” stands for February while “12” stands for December.
Hence if the co-borrower’s date of birth is on 06th October 1959 kindly write it as
0 6 1 0 1 9 5 9
Depending on the gender of the co-borrower, kindly tick √ Male or Female as the case may
be in the appropriate check box, do not circle or strike off the other option.
Point # 5 – Marital Status

Kindly tick the relevant option depending on the marital status of the co-borrower viz. whether
Single (i.e. unmarried) or Married (even in cases where the person is divorced or separated)
or Widow/er (i.e. in case one’s spouse has expired).
Point # 6 - Mother’s Maiden Name

Kindly fill in the co-borrower’s mother’s maiden name i.e. mother’s complete name before her
marriage as it appeared on her official records then, on the same parameters as provided in
point # 1 above.
Point # 7 – Present Residential Address

This also needs to be filled most carefully after due thought and consideration. This would be
the address where the co-borrower presently resides irrespective if the place of residence
is self-owned, rented or otherwise. This would generally be the location where the co-
borrower would be available in the normal course.
- Permanent Residential Address

This is an important field which would need to be filled in carefully after due thought and
consideration. The permanent residential address would be the address where the co-
borrower’s father/ guardian hails from or has a self-owned house, such residence should be
either in the nature of a self owned/ ancestral/ family owned house and should not be rented
or leased premise (unless the lease is of perpetual nature or on pagadi system). This would
generally be based at a location from where one’s forefathers hailed or where one’s
forefathers have settled for a long period of time (ranging from around 20-25 years and which
can go upto generations) or could even be another location where the family has settled for a
fairly long time and have their own self-owned house. It is not necessary or mandatory that
such property may be in the name of the co-borrower or one of his/ her parents, it may be in
the name of any his family members like grandfather, uncle, etc.
Point # 8 – Landline No. (Present)

telephone operators of the address provided above in point # 7 – present residential address
in the spaces provided in the following manner Code-Landline number. E.g. 022-28256636. In
case there is no landline number, kindly mention “NA” in the space provided, but do not leave
the field blank or fill in the mobile number instead.

Point # 9 – Landline No. (Permanent)
Simialrly, kindly correctly fill in the landline number of MTNL/ TTML/ Reliance/ BSNL/ any
other telephone operators of the address provided above in point # 7 – permanent residential
address in the spaces provided in the following manner Code-Landline number. E.g. 022-
28256636. In case there is no landline number, kindly mention “NA” in the space provided,
but do not leave the field blank or fill in the mobile number instead.

Kindly correctly fill in the co-borrower’s present mobile number in the space provided.
Point # 11 – Official Email ID

Kindly provide the co-borrower’s official email ID (which appears in ones visiting card) in case
one is salaried, in case the co-borrower is in business or self-employed professional then the
personal email ID normally used should be quoted. It is mandatory to provide the email
contact details for future contact, hence ensure that it is correctly filled in.
Point # 12 – Qualifications
This is self-explanatory, the co-borrower would need to tick appropriate check box depending
on the case. E.g. in case the co-borrower has studied upto his first year of degree college, he
would tick the “Under-Graduate” option; in case the co-borrower has studied upto Std XII, he
would tick the option of “High School of Below” since 10 + 2 is regarded as high school
education or in case the co-borrower has completed a post graduation such as M.Com or a
well-acclaimed professional course such as CA/CS then he could tick in as a “Doctorate/
Post-graduate”. However, a diploma course done by the co-borrower in Computer
Programming would be regarded as “Diploma”, if the diploma done is a well-acclaimed post
graduate diploma then the co-borrower may tick “Doctorate/ Post-graduate”.
Point # 13 – Relationship with student

on the case. If the co-borrower is an office colleague then he would tick “Others” and mention
“Office Colleague” in the space provided. It may however be noted that in case the person
acting as a co-borrower is a cousin to the student then the co-borrower would need to tick
“Relative” and not “Brother” or “Sister” and specify “Cousin” in the space provided.
Point # 14 – PAN No.

Kindly fill in the co-borrower’s PAN No. as appearing in the PAN card of the co-borrower, in
case the co-borrower has applied for a PAN No. please mention “APPLIED FOR” & if possible
write the date on which the application was accepted by the Income Tax Department in the
blank space next to the field for PAN No. in the Application Form and in case the co-borrower
has no PAN No nor has applied for one then please mention “NA”.
Point # 15 – Passport
Please tick mark the appropriate check box “Yes” or “No” depending on whether the co-
borrower has a valid passport on the date of application irrespective of whether the passport
is being provided as an identity or address proof document. If Yes, please mention the
passport number as mentioned on the co-borrower’s passport.
Point # 16 – Profession
In this case the co-borrower would need to tick appropriate check box, if the co-borrower is
salaried then he/she would need to tick “Employed” irrespective of the professional
qualification of the co-borrower; if he/she is having his/her own business, then he/she would
need to tick “Own Business”; if he/she is having a professional qualification such as LLB, CA/
CFA/ ICWA, Doctor, Engineer/Architect and doing his/her independent practice or set-up or
consultancy business then one would need to tick “Professional”. Note if the person is having
a professional qualification but are employed with any entity would need to tick the option
“Employed” instead of “Professional”.
Kindly do not use the term “profession” synonymously with Business; there is a vast
difference between the two.

Profession connotes:
1. specialised services,
2. necessitated by a qualification / course of study and / or internship or training
3. generally regulated by some separate profession governing body.
Some further examples of professionals would include sportsmen, musicians, artists, etc. in
additions to the ones mentioned above. However, persons doing businesses like estate
agencies, etc. should not tick “Professionals” since they do not fulfil the conditions of
profession.
In case the co-borrower to the application is a retired person wherein the Student is a working
executive going for a part time course without changing his present employment or
occupation; then in such case the co-borrower would need to tick “Retired”. In cases where
the co-borrower is an agriculturist or farmer, he would need to tick “Own Business” and write
in brackets “Farmer” or “Agriculturist” as the case may be. Please note there is space in
section G – point no. 5, to specify the nature of the business, in case ones business does not
fall in the specified fields, one may tick “Others” and specify the exact nature of one’s
business.
Point # 17 – Total No. of Bank Accounts You Have

Kindly fill in the total number of bank accounts the co-borrower has in his/ her name either as
the first joint account holder or as the sole account holder or in the name of his / her business
or entity under he/ she operates her business or profession. Please note that joint accounts in
which the co-borrower is the second or subsequent joint account holder (i.e. not the first joint
account holder) then he / she would need to exclude such bank account from the total
number of bank accounts.
Point # 18 - Name of the Bank, Branch, Bank A/c No, A/c Type
Kindly fill in the co-borrower’s main operating bank name, branch name, a/c number and a/c
type. This should preferably be from a Scheduled Commercial or Scheduled Co-
operative bank in which the salary is deposited or the income/ receipts of business or
profession are deposited into and from which ECS facility is possible. The signature
verification (if applicable), the ECS and Security PDCs would be provided by the co-borrower
from the same bank in respect of the bank account in question.
Point # 19 – Total Family Members

The co-borrower would need to mention the total number of family members residing with
him/ her at his/ her present address or permanent address with count including the co-
borrower himself / herself and this should be extended to other close relatives who are
dependant on him/her on a continued and sustained basis though not staying with the co-
borrower at his/ her present address or permanent address.
Point # 20 – Total Earning Members

The co-borrower would need to fill in the number of earning family members in his/her family
which should be from the total number of family members as filled in above. These earning
members should be in full time and non-temporary employment/ business and the count
should include the co-borrower as well in case the co-borrower is employed.
Point # 21 – Number of Years paying Taxes

The co-borrower would need to mention the number of years since the co-borrower is paying
income taxes and filing income tax returns. For the sole purpose of interpretation for filling in
CREDILA’s Application Form, “Paying taxes” would construe a scenario where either the co-
borrower has paid self-assessment tax, tax has been deducted or collected at source or even
where the income tax department has passed an assessment order where the income
assessed has now exceeded the minimum exemption limits thereby raising a demand for tax
payable.
This term should not be used synonymously with Number of years since filing return, since it
is possible that one may file ones return despite the income being below the prescribed
taxable limit. E.g. If a person is filing his return since the last 8 years but in the first three

years his income was below the taxable limits applicable at that point of time, then the no. of
years to be filled in would be “05” and not “08”.
Point # 22 – Present Residence

on the ownership status of one’s present residence. In case the co-borrower stays in his/ her
parent’s house (owner parent is living) then he would need to tick “Staying with Relatives or
Friends” unless the parent has expired and the co-borrower has inherited his/ her parent’s
house. If the co-borrower stays in a house in the name of his/ her spouse then also he would
need to tick “Owned/Financed” depending on the ownership status of the house in the name
of the spouse. In cases where there are no loan outstanding against the home loan and
the financier has given a no-dues certificate, in such cases the residence ownership
status would be “Owned” in other cases where the residence is still under finance with
the loan outstanding not being “Nil”, then the status to be ticked would be “Financed”.
Please understand the difference of Owned and Financed and differentiate accordingly.
In case the co-borrower is staying in a premise on pagadi system (which is the form of a
perpetual lease) still the co-borrower would need to tick the same as “Rent” and not “Owned”
since he would not be able to transfer ownership rights in such properties or mortgage such
property.
Point # 23 – For How Long Staying at Same Address

The co-borrower would need to mention the number of years since the co-borrower is staying
at the same address as mentioned above in point no. 7 (present address) above. The number
of years mentioned in this field should be completed years. E.g. if a person is staying at a
residence for 17 years and 10 months, he should mention “17” years. Similarly if a person is
staying at the same address since 10 months, he would then need to mention “00” years,
since not even one year has been completed at the said address.
Point # 24 – Own Vehicle

The co-borrower would need to tick whether he/she has a vehicle in his/her name or in the
name of the business which is managed by the co-borrower himself/herself. Commercial
Vehicles (not being cars) held by the co-borrower or in the name of the business owned/
managed by the co-borrower would be included in this category as “Heavy Vehicle”. This
would not include vehicles on hire / lease or vehicles owned by a relative but used by
the co-borrower or his/ her family members wherein the ownership of the vehicle has
not been passed onto the co-borrower and who has no right to transfer its title or
realise the same by selling it. It does not matter if the vehicle is financed by a loan from
a bank or from any other financier, the ownership of the vehicle is the defining criteria
for this parameter.
SECTION F:
Depending on the option selected in Point # 16 of Section E, please fill in the relevant portion
of section F, you may strike off this section by simply writing “--------NA-----------” in case the
option selected by the co-borrower is an option other than “Employed”. Kindly note that the
term “Company” used in this section should be understood as entity in question and would
include Sole Proprietorship, Partnership firms, PSU, MNC, Society, Trust, etc. and not
necessarily a company, whether private limited or public limited incorporated under the
Companies Act 1956 or having a meaning as defined under the Companies Act 1956..
If Salaried
This section would be filled in only if the co-borrower is a salaried person employed with an
entity and drawing a salary as emoluments or remuneration for one’s occupation. Note this
would even include persons holding professional degrees like CA, Doctor, Engineer, etc who
are employed with an entity.

Point # 1 – Name of the Employer / Company
The co-borrower should fill in the complete name of the employer / company with which one is
employed as appearing in the Form 16 / Payslip or as mentioned in official records such as
the Certificate of Incorporation (Company) / Certificate of Registration (partnership firms), etc.
Point # 2 – Address of the Employer

The co-borrower needs to mention the full postal address of the employer / company that the
co-borrower is working with as appearing in official records and other official communication.
This address should necessarily be the address of that branch office of the employer /
company where the co-borrower is working at and not the registered or corporate address of
the employer / company.
Also ensure to correctly fill in the landline number of MTNL/ TTML/ Reliance/ BSNL/ any other
telephone operators of the office address as provided above. This number should preferably
be a direct number of the co-borrower instead of a board line number and should be prefixed
with STD code and the extension number at which the co-borrower is available should be
provided. In case of large organisations having more than 50 employees at one place ensure
that the co-borrower gives his / her direct number or adds the extension number since the
board number alone would not provide the require contactibility.
Point # 3 – Type of Company

In this case, the co-borrower would need to tick appropriate check box depending on the
constitution of the entity with which the co-borrower is presently employed with. E.g. an entity
like the municipality or any other local or govt. authority would constitute “Government”; Public
Sector (PSU) would constitute entities like GAIL, SAIL, ONGC, etc. Similarly companies
registered as Public Limited Company under the Companies Act, 1956 and titled with a suffix
Limited like ABC Limited, etc would constitute “Public Limited Co” while companies registered
as Private Limited Company under the Companies Act, 1956 and titled with a suffix “Private
Limited” like XYZ Pvt. Ltd. would be ticked off as “Pvt. Ltd. Co.”. Companies like Citibank, etc
having a worldwide presence in several countries across the globe over various continents
would fall in the category of “MNC”, while entities having just a sole proprietor as sole owner
would fall in the category of “Proprietorship” and in case the entity is registered as a
partnership firm then it would be categorised as “Partnership”. Proprietorships and
Partnerships should not be wrongly categorised as Company whether Private Ltd Co. or
Public Limited Co. Finally, entities like co-operative societies or any other entity registered
under the Societies Registration Act would be categorised as “Society” while entities like
schools or trusts would fall in the final category of “Trust”.
Point # 4 - Designation
In this case, the co-borrower would need to fill in his/her present designation as given in his/
her appointment letter / payslip / any other official communication including his visiting card.

Point # 5 – Level
In this case, the co-borrower would need to tick appropriate check box depending on his/her
level in the organisation. In case the co-borrower holds a national position or a core position
such as CEO, CTO, COO, CFO, Director, National Head, or any similar central and national
role then he/she would fall in the category of “Top Management”. For intermediary roles
reporting immediately into any of the above positions, the designations of which would range
through a variety of them depending from organisation to organisation and would construe as
Middle Management levels. The residuary clerical / desk related profiles would fall in the
category of “Junior Management”. In case the person is involved in a non-desk related job
such as a factory worker or in case the persons is working on the rigs, office assistant, peon,
etc. would be in a “Blue Collared” level. In case the co-borrower teaches / lectures in a school
/ college / education institute then the level would be the specific option “Prof./ Lecturer”.
Point # 6 – Date of Joining

The co-borrower would need to fill in the date of joining the said company as it appears on the
offer letter or appointment letter or any other official communication in this regards.
Point # 7 - Age of Retirement

In this case, the co-borrower would need to fill in the age of his/her retirement as given in
his/her appointment letter / payslip / any other official communication. PS: In case it exceeds
the age of 58, the co-borrower would need to provide documentary evidence substantiating
the same.
Point # 8 – Number of Years in Service

The no. of years in service field would need to be filled in by the co-borrower with the number
of completed years since when the co-borrower is working post his qualification on a full time
or non-temporary basis which would include the years put in at previous organisations in
addition to that in the present organisation. E.g. If the co-borrower started working at a
company after his graduation since March 1999 and in July 2006 changed his employment to
join a MNC, then in November 2008, the number of years in service would be 9 years and 8
months, hence in this case the co-borrower would write “09” for the completed years. Similarly
if the co-borrower has graduated recently in March 2008 and was employed in the same
month, then eight months of employment would be written as “00” years since not even one
year has been completed.
Financial Information
Point # 9 – Gross Monthly Salary
The co-borrower is expected to fill his/her latest gross monthly salary without mentioning the
variable or incentive component if it is not received on a monthly basis. In case it is received
on a monthly basis, the co-borrower is expected to add the lowest incentive amount received
in the last six months to the fixed gross monthly salary of the co-borrower.
An illustration has been given for a better understanding suppose the co-borrower is drawing
the following emoluments: - Basic – Rs. 8,000/-, HRA Rs. 4,000/-, Medical Allowance – Rs.
1,250/-, Conveyance Allowance – Rs. 800/- and Special Allowance – Rs. 2,000. In addition to
this the co-borrower is entitled to PF of Rs. 960/- as well as a monthly performance based
incentive which varies from month to month. His incentives for the last six months are as
follows – First month Rs. 2,950, Rs. 3,200, Rs. 5,150, Rs. 3,750, Rs. 4,175 and Current
Month - Rs. 3,900 In this case, the gross monthly salary would be calculated as follows: Rs.
(8000 + 4000 + 1250 + 800 + 2000 + 2950) = Rs. 19,000/-. Note the gross salary from the
latest payslip is picked up (which does not aggregate the Employer’s Contribution to PF.
Point # 10 – Net Monthly Salary (After All Deductions)

The co-borrower is expected to fill the monthly net salary after necessary deductions from the
gross monthly salary calculated herein above. Further extending the above illustration,
presuming that the salary is subjected to the following deductions: Prof Tax Rs. 200/-, Income
Tax – Rs. 1,800/-. This would work out to a monthly net salary of Rs. (8000 + 4000 + 1250 +
800 + 2000 + 2950 – 960 – 200 – 1800) = Rs. 16,040/-.

Point # 11 – Other Monthly Income (Specify)
The co-borrower is expected to fill the non-salary income received on a recurring and monthly
basis such as rental income, bank interest, some monthly income plans, etc. The co-borrower
is expected to fill in the nature of income with the monthly amount. Kindly exclude any windfall
gains/ one-time income/ extra-ordinary profits.
Point # 12 – Total Monthly Income (10 + 11)

The co-borrower is expected to total the amount arrived in point no. 10 and point no. 11 and
fill in the sum in this field. This is nothing but the disposable income available to the co-
borrower on a monthly basis in the normal course.
In case the co-borrower to the application is a retired person wherein the Student is a working
executive going for a part time course without changing his present employment or
occupation; then in such case the co-borrower would need to strike off the “If Self-Employed”
and “If Professional” sections with a “ ----- N.A ------ “ or “ Not Applicable” and “Section F - If
Salaried” would need to be filled in as follows: -
• Write “Retired” in brackets in the grey portion in section F over field no. 1
• Fill in the name of the company and address of the company from where the co-borrower
is receiving his pension as appearing in the pension certificate or Form 16 or any other
official document of similar nature
• The remaining fields nos. 4, 5, 6, 7 and 8 should be left blank
• In the last section of the Financial Information, field # 9 – gross monthly salary may be left
blank or filled in with the gross monthly pension received per the pension certificate/
statement, the co-borrower is expected to fill in his net monthly pension as provided in his
pension certificate or his bank’s savings account passbook or savings account statement.
• In field # 11 of the financial information section, the co-borrower would fill in any other
recurring monthly income such as bank interest, fixed deposit income, etc. and the
aggregate of the amounts filled in fields nos. 10 and 11 should be filled in the field no. 12
to arrive at the total monthly income.
Section G - If Self Employed Professional or If in Business

This section would need to be filled in only in case of the following:
i) if the co-borrower holds a professional qualification such as LLB, CA/ CFA/ ICWA, Doctor,
Engineer/Architect and is not employed with an entity/ company but is doing his/her
independent practice or set-up or consultancy business. PS: Any of the above professionals,
if employed with any entity and drawing a salary would need to fill in the earlier field “If
Salaried”. Refer the explanation and guidelines given in Section E against point no. 16
defining and distinguishing a professional from the business persons.
ii) if the co-borrower is self-employed and doing his own business which may be in form of a
sole proprietorship concern, partnership firm or even private limited company but would
definitely not include a professional as defined above providing the services falling within the
purview and expertise of his profession..

Point # 1 – Name of the company.
The co-borrower is expected to write the complete name of the entity under which name
he/she is managing his/her business or professional practice (as it appears in the official
records) such as Certificate of Incorporation, Registration Certificate, Partnership Deed, etc.
Point # 2 – Address of the company.

The co-borrower needs to fill in the complete and correct postal address of the entity (under
whose name the co-borrower is presently running the professional set-up or business) as
appearing in official records.
Postal Code and Country. Kindly ensure that the address provided is complete with complete
Also ensure to correctly fill in the landline number of MTNL/ TTML/ Reliance/ BSNL/ any other
telephone operators of the office address as provided above. This number should preferably
be a direct number of the co-borrower instead of a board line number and should be prefixed
with STD code.
Point # 3 – Constitution of Business

In this case, the co-borrower would need to tick the appropriate check box depending on the
constitution of the entity through which the co-borrower conducts his / her business or
profession as the case may be. E.g. a company registered as Private Limited Company under
the Companies Act, 1956 and titled with a suffix “Private Limited” like XYZ Pvt. Ltd. would be
ticked off as “Private Limited”. Entities having just a sole proprietor as sole owner would fall in
the category of “Proprietorship” and in case the entity is registered as a partnership firm with
more than one owner then it would be categorised as “Partnership”. Proprietorships and
Partnerships should not be wrongly categorised as Private Limited Company.
Point # 4 – Company Premises

on the ownership of the office (from where he/ she carries out his business or profession)
whether it is owned or rented. In case, the office is on “Pagdi” system, then “Rented” should
be ticked as there is ownership of the office premises but just a right to use the same.
Point # 5 – Type of Profession

This is self-explanatory, the co-borrower would need to tick the appropriate check box of the
type of profession depending on the case. Please note that in case the co-borrower has any
other professional qualification (other than the options provided) and renders specialised
services, then he/she would need to tick mark “Others” and write the nature of the profession
in the space provided next to the option. Kindly ensure that you have read point # 16 of
section E before ticking the type of profession.

Please note in case the co-borrower is in business, he / she would need to strike this off as
“—NA—“ and fill in point # 7 instead which is for business.
Point # 6 – Length In This Profession

The co-borrower needs to fill in the details as to the number of years he has been involved in
the present profession. E.g. If a co-borrower started his professional set-up in June 2003,
then in April 2008 he would have completed 4 years 10 months, in such case the co-borrower
would need to enter the completed number of years which is “04”. It is not necessary that it
should be in the same profession set-up e.g. he may change his proprietary concern to a
partnership firm or even join a bigger partnership firm, it is necessary that the co-borrower
should be in the same profession though.
Please note in case the co-borrower is in business, he / she would need to strike this off as
“—NA—“ and fill in point # 8 instead which is for business.
Point # 7 – Type of business

on the type of business of the co-borrower. E.g. Manufacturer, Service Provider, Retailer,
Wholesaler, Consultant, Agent, Commission Agent, Broker and Distributor. In case of any
other profession one would need to tick mark “Others” and write the type of business in the
space provided next to the option.
Please note in case the co-borrower is in profession, he / she would need to strike this off as
“—NA—“ and fill in point # 5 instead which is for profession.
Point # 8 – No. of years in Business

The co-borrower would need to fill in the number of years since he/she is the present
business. E.g. If a co-borrower started his set-up in June 2003, then in April 2008 he would
have completed 4 years 10 months, in such case the co-borrower would need to enter the
completed number of years which is “04”.
Please note in case the co-borrower is in profession, he / she would need to strike this off as
“—NA—“ and fill in point # 6 instead which is for profession.
In case of a farmer/ agriculturist he would be required to write in brackets “Farmer” or

“Agriculturist” in the space provided as none of the fields would be applicable and the income
details as per the written explanation would need to be provided in the space provided in the
Financial Information of the Company.
Please note in case the co-borrower changes his line of business then only the number of
completed years in the present business or profession would need to be considered and filled
in. E.g. If he completed 12 years 3 months as a real estate broker and then shut shop to start
a share brokerage firm and is presently in that business for the last three years 3 months.
Then the co-borrower would need to fill “03” as the number of years in the present business.
Point # 9 – Percentage of your Share Holding

Its self-explanatory, the co-borrower would need to tick appropriate check box mentioning the
options available for percentage of share in the company (entity under which the profession or
business is carried out) i.e. 76% to 100%, 51% to 75%, 50 to 33% and Less than 33%. This to
a great extent would depend on the constitution or type of the company, in case of a
proprietorship the share holding should necessary be 100% requiring the co-borrower to tick
the option “76% to 100%”; in case of a Partnership or Private Ltd. Company depending on the
number of stakeholders/ partners and arrangement amongst them, the share-holding would
be decided. E.g. In case there are 6 stakeholders in a private limited company where all
stakeholders have an equal stake, then the share holding of one of these stakeholders who
happens to be a co-borrower to the loan would be calculated as follows – 100% / 6 = 16.67%;
thus the co-borrower would need to tick the option “Less than 33%. Lastly there may be a
possibility of a co-borrower who is a partner in a firm having three partners where the co-

borrower’s share as per the Partnership Deed is 50% while the share of both his partners is
25% respectively; in this case the co-borrower would tick the option “50% to 33%”.
Point # 10 - Whether profit making for the last three years?

The co-borrower is expected to tick whether the company was profit making for the last three
years. The basis of checking this would be the profit and loss account of the co-borrower for
the last three years where the profit or loss for the year is stated / declared. Kindly do not
leave this option unticked.
Point # 11 – Exact Product or Services of Company

This is self-explanatory where the co-borrower is expected to fill in the product and / or
services provided by the company under which the co-borrower conducts his business or
profession. In case there are more than one product and / or service provided or rendered by
the company, then in that case the various products and / or services provided or rendered by
the company would need to be filled in. If the number of such products and / or services is far
too high then the co-borrower may fill in only those products and / or services that contribute
to a significant amount (say around 80%) of the company’s turnover or revenue.
Point # 11 – If Pvt. Ltd, Registration No.

This is to be filled in only if the company / entity under which the co-borrower is conducting
business is a Private Limited Company registered under the Companies Act 1956 and within
the meaning of the Companies Act, 1956. This is not applicable to sole proprietorship
concerns or even partnership firms (despite the fact that partnership firms are registered with
the Registrar of Firms and have a Firm Registration Number).
In case of Private Limited Company, the Registration Number on the Certificate of

Incorporation would need to be filled in this field. This is generally a 21 character
alphanumeric code which appears at the top of the Certificate of Incorporation.
Point # 12 – PAN No. of Company

Kindly fill in the PAN No. (as appearing in the PAN card) of the entity through which the co-
borrower would conduct his / her business or profession. It may be noted that in case of a
sole proprietary concern, there is no separate PAN card for such entity and the PAN No. of
the proprietor (i.e. co-borrower) would need to be filled in, It may be noted that the Private
Limited Company and Partnership Firm would have a PAN No. separate from the co-borrower
or any of the other owners of such entity, whether directors or partners.
In case the co-borrower has applied for a PAN No. for the entity / company, please mention
“APPLIED FOR” & if possible write the date on which the application was accepted by the
Income Tax Department in the blank space next to the field for PAN No. in the Application
Form and in case the co-borrower has no PAN No nor has applied for a PAN No. for the
entity, then please mention “NA” in the space provided.
Point # 13 – Monthly Income From the Business

This should be filled in with the present monthly income from the business or profession as
the case may be, such monthly income would be the average income earned by the business
or profession over a reasonable period of time not unfairly spiked due to some seasonal or
cyclical spikes in volumes and business activities.
Point # 14 – Other Monthly Income (specify)

The co-borrower is expected to fill the non-business income received on a recurring and
monthly basis such as rental income, bank interest, some monthly income plans, etc. The
co-borrower is expected to fill in the nature of income with the monthly amount. The co-
borrower should exclude non-recurring, one-time and windfall gains or income from this
calculation.
Point # 15 – Total Monthly Income (13 + 14)

The co-borrower is expected to total the amount arrived in point # 13 and point # 14 and fill in
that sum in this field. This is nothing but the total income available to the co-borrower on a
monthly basis. Please mention the sum of the amounts in the points # 13 and 14 in the space

provided against “Total Monthly Income”, but do not leave the field blank. This would indirectly
work out to be an average monthly income earned from his / her business or professional
setup as well as other monthly income such as rental income, bank interest, etc. which is not
earned from his professional setup or practice. E.g. if a co-borrower is earning Rs. 25,000/-
through his professional practice and another Rs. 3,000/- from rental income, this field would
be simply filled as “Rs. 25000 + 3000 = Rs. 28000/-“.
SECTION H: Financial Information (In Rupees)
This table is self-explanatory, there are three broad columns one for the Student, another for
the Co-Borrower and the last being for an Additional Co-Borrower. We have discussed about
the Additional Co-Borrower in one of the subsequent sections. The amounts provided against
each of these assets would be the summation of the current balance or current realisable
amount for each of the assets. All such assets should be in the name of either the Student or
the Co-Borrower or Additional Co-Borrower. In cases where they are joint holders of any class
of assets other than bank account balances and bank fixed deposits (referred as bank
accounts or accounts in this paragraph), then only their appropriate share should be
calculated. In case of bank accounts, only the balances in respect of accounts in which the
said person is the first joint account holder needs to be calculated, the balances of accounts
where the person is the second joint account holder or subsequent joint account holder need
not be considered in the balances.
It may be noted that surrender value of life insurance policy should not be mistaken for the
sum assured at the time of maturity. The life insurance policy should not be an equity linked
plan or a money back policy and the surrender value would need to be ascertained by
examining the life insurance policy wherein the terms and conditions of surrender are
provided which may vary from company to company. Some instances of such surrender
conditions have been enumerated: Say for a life insurance policy with a term of 15 years,
wherein surrender value is given as 15% after 3 years, 35% after 6 years, 55% after 9 years,
75% after 12 years and the sum assured on maturity. Some policies have a “Nil” surrender
value in case of surrender within the lock in period of anything ranging from 0 to 3 or 5 years
depending from policy to policy. Accordingly the surrender value needs to be calculated on a
conservative basis, one thumb rule which may be applied (in the absence of the % assured
on surrender after given slabs of years) would be taking a pro-rata calculation of the sum
assured. E.g. The surrender value of a 20 year policy for a sum assured of Rs. 25 lacs after
the completion of premium payments for 8 years would be approximated as follows – 25 lacs
x 8 /20 = Rs. 10 lacs.

The declaration of the assets would need to be given on a given date not more than 30 days
from the date of the Application Form. It should be ensured that the value of all assets are
given on the same day itself without a lag of even one day so that the true picture of the
financial position is declared.
The next section of the table pertaining to Liabilities is broken into two sub-columns for each
of the Student, Co-Borrower and Additional Co-Borrower respectively. Wherein, the borrowers
(either Student or Co-Borrower or the Additional Co-Borrower) would need to mention the
current loan outstanding (viz. principal outstanding + accrued interest not repaid) along with
the current EMI for the loan. The Credit Card Unpaid amount would be entered into the
Current Loan Outstanding Amount unless the outstanding is converted into an EMI repayment
mode as currently offered by various banks/ financiers. Also the rent amount should be shown
as Current EMI since it is a monthly obligation like the loan EMI obligation, while other
liabilities like health insurance, the annual premium would need to be entered into the Current
Loan Outstanding unless the premium is paid on a monthly basis.
The declaration of the liabilities would need to be given on a given date not more than 30
days from the date of the Application Form. It should be ensured that the value of all liabilites
are given on the same day itself without a lag of even one day so that the true picture of the
financial position is declared.
Most Important: Both the assets and liabilities should be stated on the same date not being
more than 30 days from the date of the Application Form.
An illustrative portion of the Application Form has been reproduced below for the reference of
the student and co-borrowers filling in the Application Form.
Student Co-Borrower Additional Co-Borrower

A) Assets
1) All Bank Account Balances 1,000 25,000 -

2) Bank Fixed Deposits 15,000 75,000 -
3) - 50,000 -
Investments(Stocks/Bonds/Mutual
Funds)
4) Immovable Property (Current - - 2,500,000
Value) (House/Land/Farm)
5) Current Surrender Value of Life - 35,000 -
Insurance Policy
Total Assets As on 10112008 16,000 185,000 2,500,000
B) Liabilities Current Current Current Current Current Current

Outstanding EMI Outstanding EMI Outstanding EMI
1) Home Loans - - - - 350,000 7,835

2) Personal Loans
3) Bank Loans - - - - - -
4) Car/Two Wheeler Loans - - 20,000 1,787 - -
5) Credit Card Unpaid Amount - - 15,650 - - -
6) Loan From Employer - - - - - -
7) Other Loans - - - - - -
8) Rent - 5,000 - - - -
9) Other Liabilities (Health - - 8,350 - - -
Insurance, etc)
Total Liabilities As on 10112008 - 5,000 44,000 1,787 350,000 7,835

These figures should be stated at their present balances (in case of bank balances) whereas
the investments and immoveable property would need to be valued at the current market
value or current realizable value whichever is lower.
SECTION I : Reference of Student and Co-Borrower
Please note that one reference for the student and co-borrower respectively needs to be
provided for verification. Such reference should necessarily be:
(1) known to the student or co-borrower as the case may be for a period of more than
one year at least,
(2) should not be a blood relative of the person whom he / she is referring not should
such person be staying at the same address / premises like that of the person for
whom he / she is referring and lastly
(3) should not be working at the same place as the person who is being referred.
The guidelines for filling in the fields for both the references whether for the student and co-
borrower would be the same.
Point # 1 – Name
The complete name of the reference (i.e. the First name, Middle Name and Surname) as it
appears in his/her official records. Kindly refrain from the use of any alias names or initials
and ensure that the full name is written, unless the person does not have a middle name. In
cases, where a person does not have a surname but instead uses his/her family name or
village name or only father’s name, then such family name/ village name/ father’s name may
be filled in place of the surname. Please refer the guidelines given in point # 1 of section B for
detailed explanations and illustrations.
Point # 2 – Residential Address

One would need to fill in the present residential address where the reference is presently
residing. Kindly note that there is separate space in the address sections for filling in the City,
State, Postal Code and country.
Depending on the gender of the reference, kindly tick (√) Male or Female as the case may be
in the appropriate check box, do not circle or strike off the other option.
Point # 4 – Occupation
In this case one would need to fill in “Employed” irrespective of the professional qualification
of the reference in case he is employed with some organisation and is drawing a salary; if the

reference is having his / her own business, then one would need to fill in “Own Business”; if
the reference is having a professional qualification such as LLB, CA / CFA / ICWA, Doctor,
Engineer / Architect and doing his / her independent practice or set-up or consultancy
business then one would need to tick “Professional”. Note if the person is having a
professional qualification but are employed with any entity would need to tick the option
“Employed” instead of “Professional”. Then there could also be a scenario of a “Retired”
reference.
Please check the detailed norms and guidelines as elaborated in point # 16 of section E in
case of any further doubts.
Point # 5 – Relationship
This is self-explanatory and one would need to tick the relevant option either Friend,
Neighbour, Office Colleague, Business / Professional Associate and the residuary option
“Others” and specify the exact relationship. Eg. Bank Manager, etc. are some such options.
Point # 6 - Official Email ID

Kindly provide the reference’s official email ID in case one is salaried, in case the co-borrower
is in business or self-employed professional then the personal email ID normally used should
be quoted. It is mandatory to provide the email contact details for future contact, hence
ensure that it is correctly filled in.
Point # 7 – Landline No.

telephone operators for the reference in respect of the address as provided in point # 2–
residential address in the spaces provided in the following manner : Code-Landline number.
E.g. 022-28256636. In case there is no landline number, kindly mention “NA” in the space
provided, but do not leave the field blank or fill in your mobile number instead.

Kindly correctly fill in the reference’s present mobile number in the space provided.
SECTION G: Collateral Information

Providing a collateral even if the loan amount is of a low amount below Rs. 4 lacs
would enable Credila provide a better product offering in terms of processing fee,
tenor and rate of interest. Hence it is suggested wherever possible to provide collateral
as security. For loan amounts exceeding Rs. 4 lacs, providing collateral would be
desirable.
The collateral should be any one of the following assets:

• Moveable Collateral – Life Insurance Policy (not being Money Back Schemes, Equity
Linked Schemes or life Insurance policies whose maturity would fall due before the
maturity of the loan, Fixed Deposit with Bank only, KVP and NSC.
• Immoveable Collateral – Flat, House, Bungalow, Land (Non-Agricultural), Shop, etc.
Such collateral should be of value / surrender value at least equal to or exceeding the
loan amount and should be unencumbered neither mortgaged nor charged) and with a
free, clear and marketable title.
The immoveable collateral should preferably be from the list of locations provided
herein in Annexure “B” and should be in the name of either the student or co-borrower.
In case of joint ownership of the collateral, then either the joint owner would need to
agree to sign and execute the loan documentation as a second co-borrower or
guarantor and in case such person is not willing to be part of the loan agreement then
a No Objection would need to be taken from such co-owner who is not willing to be a
part of the loan arrangement.
It may be noted that there are two sections for collateral offering space to provide
details for two immoveable properties and two moveable properties which may be in
the name of either the student or co-borrower or an additional co-borrower or
guarantor or in combinations of two or more of them.
Point # 1 – Collateral offered

This is self-explanatory, the co-borrower / guarantor would need to tick appropriate check box
“YES” or “NO” depending on whether he is offering collateral or no. As far as possible the
borrowers should offer a collateral as that would give them a better product offering from
Credila in terms of processing fee, tenor and rate of interest.
Points # 2 – Type of Collateral

This is also self-explanatory, the co-borrower / guarantor would need to tick appropriate check
box “Immovable property” or “Movable property” based on the classification provided in
the norms provided above.
A) Type Of Immovable property:-
Sub point # 1 - Type Of Immovable property

In this the co-borrower / guarantor would need to tick appropriate check box regarding the
collateral provided by him whether it is House/Bungalow, Non-agricultural Land, Flat, or
Other. In case it is some other immoveable property (other than Flat, Land, House and
Bungalow) he/she would need to specify in the space provided the nature of such
immoveable property such as Shop, Commercial premises, Showroom, etc. Kindly note that
the collateral property like land should be Non-Agricultural Property, unencumbered & free
from any mortgage or charge and preferably should be from the list of preferred locations as
given in Annexure “B”.
Sub Point # 2 – No. of Property Owners

In this the co-borrower / guarantor would need to fill in the number of property owners in
whose name the immoveable property is registered. This can vary from anywhere between
one to even as many as twenty or even more, this could differ depending on the mode of
acquisition and nature of the immoveable property.
Sub Points # 3 and 4 – Name of Property Owner 1 and Property Owner 2

The names of the persons on the property documents needs to be filled in, it should be noted
that there is space for two owners’ names to be filled in. In case there are few more they may
be condensed into the two fields and only the parties to the loan may be noted therein and the
last name may be suffixed by a clause “& Others” to suggest there are other co-owners to
the property in question sought to be mortgaged.
Sub Point # 5 - Property Details

The co-borrower / guarantor needs to fill in the details of the property offered as collateral i.e.
if land, the borrower should mention the details regarding the area of land, survey no, plot no;
details regarding the four boundaries to the south, east, west and north as given in the
various collateral documents. Similarly for flat, house or bungalow, the boundary details would
need to be given for the plot on which the building with the said flat, house or bungalow is
constructed/ situated.
Sub Point # 6 - Property Address

In this one would need to fill the detailed address of the property with exact landmark and
same to be matching with the address in the collateral documents provided, it should be same
and should tally with the schedule second of Deeds and other documents such as 7/12
extract, 6D extract, NA Order, ULC Order, Commencement Certificate, Building plan in case
of constructed property and layout plan in case of Non-Agricultural land.
Please note that there is separate space in the address sections for filling in the City, State,
Postal Code and country. Please ensure that the Postal Code provided is complete and
correct.
Sub Point # 7 – Name of the Nearest Railway Station

This point is self-explanatory, kindly fill in the name of the nearest railway station to the site of
the immoveable property.
Sub Point # 8 - Purchase Price Rs.

In this case one would need to fill the consideration price at which the property was either
purchased/ acquired/ inherited on the date on which the property title deeds such as sale
deed/ title deed/ gift deed/ succession deed, etc were entered into or executed on. This
consideration price would be enumerated in the said title deeds.
Sub Point # 9 - Current Market Value Rs.

In this one needs to fill in the approximate conservative market value of the property which
can be worked out as sq. ft/meter area of the property as given in the property title documents
multiplied with the approximate prevailing market rate per sq. ft/meter in the area / locality for
similar construction or property.
B) Type of Movable Property
Sub Point # 1 - Type of Movable Property

Please tick in case one is offering either Life insurance Policy, National Savings Certificate
(NSC) or Kisan Vikas Patra (KVP) or Fixed Deposit with Bank or any combination of these as
security collateral. Ensure that the referred assets is unencumbered and whose date of
maturity would fall within the tenor of the loan (Credila suggest that one waits for the
sanction and awaits Credila’s instructions before going ahead with creating a new
Fixed Deposit, KVP, NSC, etc with appropriate maturity). Further that the life insurance
policy is not a money back policy or an equity linked savings scheme policy (ELSS) or any
insurance policy.
Sub Point # 2 – Name of Policy / FD Holder

One is expected to fill in the name of the holder of the referred Policy, FD, NSC or KVP, the
name should be the complete name as appearing on the instrument and in case of multiple
names I should be in the same order as it appears on the instrument. Where the space
provided falls short, one may fill in the names of those persons who are parties to the Credila
loan arrangement and then suffix “& Others” to suggest there are more persons to the
ownership of the instrument. It should be ensured that the policy holder is the borrower or co-

borrower or even guarantor to the loan; in case the collateral owner is not one of the
borrower/s then such person should be introduced into the arrangement as an additional co-
borrower. Anyways we would be discussing the concept of Additional Co-Borrower.
Sub Point # 3 – Issuing Authority

Please fill in the name of the authority issuing the instrument. E.g. In case of a NSC taken
from Postal Dept, Jaipur, one would need to fill up “Postal Dept. Jaipur”) or “LIC, Bangalore
Branch” in case of a life insurance policy taken from LIC in Bangalore..
Sub Point # 4 - Policy / FD number

One should fill in the policy/ FD/ instrument number of the respective instrument offered as
collateral.
Sub Point # 5 - Date of Policy / FD Purchased

One should mention the correct date on which the policy is being purchased. i.e. the date on
which the first insurance premium payment was made and consequently the date on which
policy was issued in favour of the policy holder or the date on which any of the instruments
were issued. The date should be in DD/MM/YY format as shown in several previous
illustrations.
Sub Point # 6 - Date of Maturity

Please mention the date of maturity of the policy or any other instrument which is provided by
the insurance company on their policy document / instrument or any other written
communication in this regards. The date should be in DD/MM/YY format as shown in several
previous illustrations.
Sub Point # 7 - Sum Insured / FD Amount

For Insurance Policy - Kindly fill in the sum assured or maturity amount as provided in the
policy document. This would be the amount payable by the insurance company to the
insured/ person assured on the maturity of the policy or in the event of the death of the person
insured. This is distinct from the surrender value.
For FD/ KVP/ NSC – Kindly fill in the maturity value receivable after the end of the duration for
which the instrument was to be held or retained by the holders.
Sub Point # 8 - Surrender value

For Insurance Policy - please fill in the surrender value, which is payable immediately on
surrender of the policy during the tenor of the policy and before its maturity. The surrender
value is determined per the terms and conditions on the policy document or is provided by the
insurance company on providing a written request in this regards.
The surrender value of the life insurance policy should not be mistaken for the sum assured at
the time of maturity. The surrender value would need to be ascertained by examining the life
insurance policy wherein the terms and conditions of surrender are provided which may vary
from company to company. Some instances of such surrender conditions have been
enumerated: Say for a life insurance policy with a term of 15 years, wherein surrender value
is given as 15% after 3 years, 35% after 6 years, 55% after 9 years, 75% after 12 years and
the sum assured on maturity. Accordingly, if a policy is surrendered after 5 years, the
surrender value on such policy would be 15%. Some policies have a “Nil” surrender value in
case of surrender within the lock in period of anything ranging from 0 to 3 or 5 years
depending from policy to policy. Accordingly the surrender value needs to be calculated on a
conservative basis, one thumb rule which may be applied (in the absence of the % assured
on surrender after given slabs of years) would be taking a pro-rata calculation of the sum
assured. E.g. The surrender value of a 20 year policy for a sum assured of Rs. 25 lacs after
the completion of premium payments for 8 years would be approximated as follows – 25 lacs
x 8 /20 = Rs. 10 lacs.
For FD/ KVP/ NSC – please fill in the surrender value in case one needs to liquidate his asset
viz. FD/ KVP/ NSC. This would depend on the tenor for which the asset was held by the

holder; the rate of return due on such instrument and lastly the terms and conditions
governing its premature liquidation,
Sub Point # 9 - Premium per month

This field would be applicable only in case of Life Insurance Policy and in case the co-
borrower / guarantor bring in any other moveable property as collateral such as Fixed Deposit
(FD), KVP, NSC, etc. then one would need to strike this field off with an “ - - N.A - -“. The co-
borrower / guarantor should fill in the premium amount paid monthly. In case this amount is
being paid on an annual basis or quarterly basis, then the monthly amount would need to be
calculated and such figure would need to be filled in accordingly. E.g. A person is paying an
annual premium of Rs. 8,500/- towards his life insurance, in this case he would need to
calculate the monthly premium as Rs. 8500/12 = Rs. 708/-. You may write the annual
premium amount next to the field as follows “Rs. 708/- (Annual Premium – Rs. 8,500/-)”.
SECTION K : SUPPORTING DOCUMENTS

The parties to the Credila Education Loan viz. student, co-borrower, additional co-borrower
and guarantor would need to tick “√” in the check box provided against each of the
supporting documents provided along with the Application Form. The guidelines for providing
these supporting documents fulfilling the credit and underwriting criteria have been appended
below in Annexure “A”.
The supporting documents to be provided along with the Application Form have been
provided herewith. The detailed documentation guidelines per credit and underwriting
perspective have been encompassed herein below in Annexure “A” and alternatively
they can be viewed by visiting our website – www.credila.com.
IMPORTANT
1) All the documents should be self-attested photocopies

2) No originals should be provided under any circumstances at the time of making the
application (though the originals would be asked for at a later date just before
disbursement for the purpose of effecting an equitable mortgage)
3) Do not make any payment whether in cash or cheque or DD or kind or otherwise to
any person whether an officer of CREDILA or otherwise at the time of the application.

SECTION L : DECLARATIONS
Please read the declarations carefully before signing below the same since you would be
giving your consent to these eight declarations by signing below in the space provided below.
These declarations are self-explanatory. Kindly ensure that this is the signature matching in
all your official records (identity and/or address proof documents as well as bank records).
The signature should also be accompanied by the date below the space for the signature
which would be in DD/MM/YYYY format.
Important: Please ensure that the signature is physically affixed by signing across in the
form; scanned images of signature would not be accepted for processing. Also ensure that
the signature affixed tallies with the signature given on the signature verification document or
the signature authentication format duly authenticated by the bank. Any mismatch in the
signature would lead to delay in the processing of the Application.
Even in case the co-borrower/s or guarantor are not physically present in the location as the
student or even if they are out of the country, we cannot deviate or relax this norm and would
insist on the Application Form being signed by all persons by couriering them across to the
concerned person for his / her signature.
SECTION M : ACKNOWLEDGEMENT
Kindly leave this portion of the Application Form blank, do not fill any details or make any
marks in this portion.

SECTION N : ADDITIONAL CO-BORROWER DETAILS
An Additional Co-Borrower would be asked for in case of the following conditions:
1) If the Underwriting team of Credila is of the opinion that the income of the given co-
borrower is insufficient to service the interest during the study period.
2) If the given co-borrower is not based in India or is based in a location where Credila
does not have their branch or even if such co-borrower does not have a permanent
residence in the Credila Branch location
3) If the collateral is not in the name of the given co-borrower
4) If the collateral is in joint names, then the other co-owner is taken into the loan
arrangement as an additional co-borrower
5) For any other reasons as deemed fit by the Underwriting team.
It may be noted that such additional co-borrower would need to:
1) be an Indian citizen
2) be preferably based in one of the locations given in Annexure “B”
3) agree to co-sign & execute the loan agreement & other documentation; who is able
as well as promises to service the interest in the moratorium period comprising of the
study period and grace period & in the event of the student’s inability to repay the
loan would repay the installments of the loan and / or provides the collateral security.
4) be the parent, brother, sister, any other relative or friend of such student.
5) fulfil any additional conditions as may be imposed by Underwriting
Please note that the fields in this section are similar to that in section E, in case of any doubt
in filling any of the fields in this section (Section N) please refer to the detailed guidelines
given for filling in Section E.

SECTION O : IF SALARIED
Please note that the fields in this section are similar to that in section F, in case of any doubt
in filling any of the fields in this section (Section O) please refer to the detailed guidelines
given for filling in Section F.
SECTION P : IF SELF EMPLOYED PROFESSIONAL OR IF IN BUSINESS
Please note that the fields in this section are similar to that in section G, in case of any doubt
in filling any of the fields in this section (Section P) please refer to the detailed guidelines
given for filling in Section G.

SECTION Q : GUARANTOR DETAILS
Please note that the fields in this section are similar to that in section E, in case of any doubt
in filling any of the fields in this section (Section Q) please refer to the detailed guidelines
given for filling in Section E.
SECTION R : REFERENCE OF ADDITIONAL CO-BORROWER AND GUARANTOR
Please note that the fields in this section are similar to that in section I, in case of any doubt in
filling any of the fields in this section (Section R) please refer to the detailed guidelines given
for filling in Section I.

SECTION S: PHOTO OF ADDITIONAL CO-BORROWER AND GUARANTOR
Please note that the fields in this section are similar to that in section A and Section L, in case
of any doubt in filling any of the fields in this section (Section S) please refer to the detailed
guidelines given for filling in Section A and Section L (with regards to affixing ones signature
on the Application Form).
NON-RESIDENT INDIAN* (NRI) CO-BORROWERS:
The student can bring in a non-resident Indian (NRI) co-borrower, being his/ her father,
mother, brother, sister or spouse (close relative) into the deal to further enhance the credit
worthiness of the case, It should also be noted that such NRI co-borrower would be taken as
a second co-borrower (the first co-borrower being an Indian citizen residing in India in the
locations provided in Annexure “B” providing with collateral and / or whose income and
banking is considered in appraising the case) for further enhancing the credit worthiness of
the case. However, no deviations or waivers on documents or other requirements stipulated
in this Instruction Manual would be provided to the other co-borrower/s.
Credila understands that the NRI co-borrower is a different profile and hence their
documentation would need to be treated differently. Following are the points to be noted while
submitting documents along with the Application in respect of the NRI Co-Borrower:
1) The Application needs to be physically signed by such NRI co-borrower, scanned

images of the signature would not be construed valid and applications bearing
scanned images of signature would not be processed further.
2) There would be no waivers or deviations on the Know Your Customer (KYC)
documents such as Photograph, Identity Proof, Residence Proof, Date of Birth Proof
and Signature Authentication as per the norms elaborated in Annexure “A”.
3) All documents provided by the NRI Co-borrower along with the Application Form
should be self-attested by such co-borrower. If some of the documents are arranged
by the borrower or by such co-borrower’s family members; in that case such
documents would be self-attested by such person providing the documents for the
application.
4) In case of residence proof, would require residence proof documents for both his
Indian address (where his/ her family members are currently staying) as well as his
present address abroad.
5) In case of banking statements, the norms elaborated in Annexure “A” would need to
be met for the NRE/ NRO / NRI account held by the NRI co-borrower. Moreover, in
case the NRI co-borrower does not have a bank account in India, he/ she could

furnish his overseas bank account statements for the stipulated period as elaborated
in Annexure “A” and meeting the norms stipulated therein.
6) In case of income documents, the latest three payslips or salary certificate stating the
emoluments earned by the NRI co-borrower during the latest three months would
need to be submitted. In cases where the NRI co-borrower is not filing his Income
Tax Return in India, then the requirement of last two years Income tax Return would
not apply to such NRI Co-borrower.
* 'Non-Resident Indian (NRI)' means a person resident outside India who is a citizen of India or is a
person of Indian origin. The following are the main three categories of NRIs: (i) Indian citizens who stay
abroad for employment or for carrying on a business or Vocation or any other purpose in circumstances
indicating an indefinite period of stay abroad. (ii) Indian citizens working abroad on assignment with
foreign government agencies like United Nations Organisation (UNO), including its affiliates,
International Monetary Fund (IMF), World Bank etc. (iii) Officials of Central and State Government and
Public Sector undertaking deputed abroad on temporary assignments or posted to their offices,
including Indian diplomat missions, abroad.
'Person of Indian Origin' means a citizen of any country other than Bangladesh or Pakistan or Sri
Lanka, if
a. he at any time held Indian passport or

b. he or either of his parents or any of his grand- parents was a citizen of India by virtue of the
Constitution of India or the Citizenship Act, 1955 (57 of 1955) or
c. the person is a spouse of an Indian citizen or a person referred to in subclause ( a ) or (b)
In case of any further queries you are requested to contact us on our e-mail id – loan@credila.com.

Annexure “A”
Guidelines for Supporting Documents to be submitted

along with the Credila Application Form
ALL THE BELOW MENTIONED DOCUMENTS NEEDS TO BE SELF ATTESTED BY THE

RESPECTIVE STUDENT / CO-BORROWER / GUARANTOR AS THE CASE MAY BE AND
THE PHOTOGRAPH AFFIXED TO THE APPLICATION FORM NEEDS TO BE SELF -
ATTESTED BY SIGNING ACROSS (PARTLY ON THE PHOTOGRAPH AND PARTLY ON
THE APPLICATION FORM) BY THE RESPECTIVE PERSON. ALSO THE DOCUMENTS
NEEDS TO BE ARRANGED IN THE SEQUENCE AS PROVIDED HEREINBELOW
THIS DOCUMENT SEEKS TO DETAIL THE VARIOUS DOCUMENTS REQUIRED FOR

PROCESSING THE EDUCATION LOAN APPLICATION WITH THE INDICATIVE NORMS
THEREIN FOR ENSURING THEIR RELEVANCE, VALIDITY AND APPLICABILITY FROM
THE CREDIT AND UNDERWRITING PERSPECTIVE.
A) Application Form
The Application Form needs to be completely and correctly filled up as per the
instructions given in the Instruction Manual above with a recent coloured passport size
photograph of the Student, Co-borrower/s and Guarantor (if applicable) duly pasted on
the Application Form in the spaces provided with an additional set of photographs of
the Student, Co-Borrower/s and Guarantor (if applicable) being taken (this set would be
stapled in the centre of the top stub of the first page of the Application Form).
This has been elaborated in the Instructions provided in the Instructions Manual above.
Kindly ensure that the Application Form is not left blank, in case any field is not applicable it
should simply be struck off as “Not Applicable” or “ ------ NA --------“. In case in doubt with
regards to filling in any information, please refer the Instructions Manual.
B) Two Photographs of Student, Co-Borrower/s and Guarantor (if applicable)

1. Two Passport size coloured photographs (Size: 4.0cm x 3.5cm) – one pasted on the
Application Form; while the other should be separately stapled to the top portion of
the first page of the application form with the name of the respective person written
on the back of the photograph for reference.
2. The photographs should be recent ones only
3. Photographs should not have anything written or stamped on it.
4. The photograph pasted on the Application Form should be self attested by affixing the
signature partly on the Application Form and partly on the Photograph by the
respective person
C) Photo ID Proof of Student, Co-Borrower/s and Guarantor (if applicable)
PRE-REQUSITES
• Must be issued by an authority of repute
• Must necessarily have a photograph of the concerned person duly attested by signing
and stamping across the photograph, wherever applicable
• Must be a valid document – not crossed its date of expiry
Any one of the following documents would only be accepted as photo ID proofs by Credila.
1. PAN Card
PAN card issued by Income tax department of India mentions the name, photograph
and signature of the holder. The name and photograph mentioned in the application
form by the Student / Co-Borrower/ Guarantor must match with the name mentioned
on the PAN card.

2. Passport
A valid / unexpired Passport issued by Government of India mentioning the name,
address, photograph and validity in terms of expiry date. A valid passport is the one
which is not expired and within the expiry date mentioned on the passport. The name,
address and photograph mentioned in the application form by the Student / Co-
Borrower/ Guarantor must match with the name and the photograph mentioned on
the valid passport.
3. Driving License
A valid Driving License issued by Regional Transport Office (RTO) which has not
expired i.e. which is within the expiry date mentioned on the driving license. A valid
driving license mentions the name and bears a photograph pasted with RTO stamp
put across on it and signed by the RTO officer as applicable. The name and
photograph in the application form of the Student / Co-Borrower / Guarantor must
match with the name and photograph on the valid driving license.
4. Voters ID
Voters ID issued by Election Commission of India mentions name, photograph and
address of the holder. However, the Voters ID would be accepted as valid Photo ID
by Credila if the name and photograph in the Voter’s ID matches with that on the
application form.
5. Employee ID
Employee ID issued by the employer (viz. private limited company, public limited
company, multinational company, public sector undertaking, etc. mentioning name
and photograph of the holder would be accepted as valid Photo ID by Credila if the
name and photograph on their Employee ID matches with that on the application
form.
6. Any Photo ID Proof issued by the State or Central Government of India

Any photo ID issued by State or Central Government of India (in case of government
employees) is accepted provided the name and photograph therein matches with the
information in the application form. Photo IDs issued by State or Central Government
of India is valid only if the holder is currently working i.e. if the holder is retired then it
cannot be accepted.
7. Bankers Verification
A letter from the bank (Scheduled Commercial or Scheduled Co-operative Bank)
verifying the name and the photograph of the concerned person can also be accepted
as photo ID proof provided the letter has following details.
a. The Name of the Student/ Co-Borrower/ Guarantor matching with the name
mentioned in the application form.
b. A photograph pasted on the letter with bank’s seal put across the photo.
c. Account type, account number and duration since the account was opened.
The account should have been active for at least 6 months.
d. Signed by the authorized official or branch manager of the bank with the seal
of the bank.
8. Bank Passbook
Bank Passbook (of Scheduled Commercial or Scheduled Co-operative Bank) can be
accepted provided the photograph and the name of the holder in such passbook
matches with the information provided in the application. The account needs to have
been active for at least 6 months. The photograph should have bank seal put across
it with an authorised official of the bank further authenticating it by signing it.
Note: Credila would accept only the above mentioned documents as valid photo ID
document. Any other Photo IDs issued by any other agency or organization would not be
accepted by Credila.

Kindly write “Identity Proof – Student” or “Identity Proof – Co-Borrower” (as the case
may be) on the top of the document furnished as identity proof which satisfies the
requirements provided.
D) Residence Proof of the Student, Co-Borrower/s and Guarantor (if applicable)

Any one of the following documents would only be accepted as residence proofs by
Credila provided the address mentioned therein matches with that on the Application
Form.
1. Passport
A valid / unexpired Passport issued by Government of India mentioning the name,
address, photograph and validity in terms of expiry date. A valid passport is the one
which is not expired and within the expiry date mentioned on the passport. The name
and address mentioned in the application form by the Student / Co-Borrower /
Guarantor must match with the name and address mentioned on the valid passport.
2. Savings bank account statement (Issued by a scheduled commercial bank or

scheduled co-operative bank and should not be more than 3 months old) with the
name and address of the account holder which should match with that in Application
Form in order to construe as valid residence proof. However this would not include a
print out of the e-statement.
3. Driving License
A valid Driving License issued by Regional Transport Office (RTO) which has not
expired i.e. which is within the expiry date mentioned on the driving license. A valid
driving license mentions the name, address and bears a photograph pasted with RTO
stamp put across on it and signed by the RTO officer as applicable. The name and
address on the application form of the Student / Co-Borrower/ Guarantor must match
with the name and address on the valid driving license in order to constitute a valid
residence proof.
4. Utility Bill issued by any provider (i.e. Electricity Bill, Telephone Bill, Gas Connection
Book, Gas Bill, Post Paid Mobile Bill, etc. However, the bill should not be more than 3
months old and in case the bills are issued quarterly then not more than 5 months)
5. Ration Card issued by the local body comprises of the name of the head of the
family along with the address of domicile and the names of the family members along
with their relationship with the head of the family in whose name the ration card is
issued. The ration card would be construed as a valid residence proof provided the
name of person as appearing the ration card and address matches with that given in
the Application Form.
6. Latest LIC/ insurance premium receipt (Not more than 12 months old and in case
the policy is due for renewal then this may be relaxed for 15 months) with the name
and address of the account holder which should match with that in Application Form
in order to construe as valid residence proof.
7. Registered Rental agreement / Leave and License Agreement with NOC from the
house owner and an utility bill of the premises in the name of the landlord appearing
on the rental / leave and license agreement or any other residence proof (as per the
accepted list of residence proofs of Credila) in the name of the landlord with the
address of the premises being occupied on leave and license basis.
8. Bankers Verification
A letter from the bank (Scheduled Commercial or Scheduled Co-operative Bank)
verifying the name and stating the address of the concerned person can also be
accepted as residence proof provided the letter has following details.
a. The Name of the Student/ co-borrower/s / Guarantor matching with the name
mentioned in the application form.

b. The Address of the Student/ co-borrower/s / Guarantor matching with the
address mentioned in the application form.
c. Account type, account number and duration since the account was opened.
The account should have been active for at least 6 months.
d. Signed by the authorized official or branch manager of the bank with the seal
of the bank.
9. Bank Passbook
Bank Passbook (of Scheduled Commercial or Scheduled Co-operative bank) can be
accepted provided the photograph, address and name of the holder matches with the
information provided in the application. The account needs to have been active for at
least 6 months. The photograph should have bank seal put across it with an
authorised official of the bank further authenticating it by signing it.
Note: Credila would accept only the above mentioned documents as valid residence
proof. Any other documents would not be accepted by Credila.
Kindly write “Residence Proof – Student” or “Residence Proof – Co-Borrower” (as the
case may be) on the top of the document furnished as residence proof which satisfies
the requirements provided.
E) Date of Birth Proof of the Student, Co-Borrower/s and Guarantor (if applicable)
Following documents would only be accepted as date of birth proofs by Credila provided
the name and other information matches with the information provided in the application
form by the Student, Co-Borrower/s and Guarantor.
1. PAN Card
2. Passport
3. Birth Certificate
4. SSC Passing Certificates (wherever date of birth is mentioned)
5. School or College Leaving Certificate
6. Driving License being issued by the RTO
7. Photo ID issued by State or Central Government of India (wherever date of birth is
mentioned)
Note: Credila would accept only the above mentioned documents as valid date of birth
proof document. Any other documents would not be accepted by Credila as date of birth
proof
Kindly write “Date of birth Proof – Student” or “Date of birth Proof – Co-Borrower” (as
the case may be) on the top of the document furnished as date of birth proof which
satisfies the requirements provided.
F) Signature Verification Proof of the Student, Co-Borrower/s and Guarantor (if

applicable)
The following documents would be construed as valid signature authentication documents:
1. PAN Card - the name and signature provided therein should match with that given in
the Application Form
2. Passport - the name and signature provided therein should match with that given in
the Application Form
3. Duly completed Signature Authentication Form per the format prescribed by Credila –
Student, Co-Borrower and Guarantor’s signature authentication from the bank (a
scheduled commercial or scheduled co-operative bank) has to be obtained in a
standard format provided by Credila (as appended in Annexure “C”). It is imperative
that the all the details should be mentioned in the format and it has to be signed by
authorized official from the bank and bear the seal of the bank. This authentication
should be taken from the bank from which ECS/ Security PDCs would be issued.

Kindly write “Signature Authentication – Student” or “Signature Authentication – Co-
Borrower” (as the case may be) on the top of the document furnished as Signature
Authentication which satisfies the requirements provided.
G) Academic Documents of the Student

1. Passing Marksheets/ certificates (with marks or grades) starting Xth, then the XIIth
and thereafter the Marksheets / Certificates for all subsequent years of education
(whether graduation or post-graduation, depending on which is the last education
qualification). E.g. a Science Graduate would need to provide the Marksheets of Std
X, Std XII, thereafter for F.Y. B.Sc, S.Y.B.Sc and T.Y.B.Sc.
2. Marksheets of English Proficiency tests & other qualifying tests like GRE, GMAT,
SAT, TOEFL, etc.
3. Marksheets of any qualifying exam such as medical certificate required for Marine
courses, Commercial Pilot Licences (CPL) or CAT / CET for admission into
management institutes.
H) Proof of Admission from the Institute.

1. Printed admission letter from the Institute / University on its letterhead bearing the
Institute’s / University’s address mentioning all of following details
a. Name of the Student.

b. Addressed to the Student at his Current Address
c. Contact information of the Institute (Telephone Nos, Fax Nos, Email IDs)
d. The course for which the student is offered a seat
e. Date of commencement of the course
f. Duration of the course
g. The last date of reporting
h. The last date of paying the fee.
i. Fee payment in favour of whom.
j. Letter to be signed and stamped by the authorised representative of the
Institute
k. The letter should not be dated more than six months old on the date of the
application or any period prescribed by the Institute for which the letter would
be valid
2. In case of US Institutes, I-20 Form is also required in addition to the letter from the
institute / university.
The I-20 Form would comprise of the following information:

a. Name of the Student
b. Name and Address of the Proposed Institute
c. Details of the course offered
d. Course Fees
e. Approximate Living Expenses
f. Duration of the course
3. In case of a student pursuing a course overseas, the passport of the student needs to
be collected as a mandatory document irrespective if any other document has been
collected as an identity proof document and / or address proof document. Needless
to mention it should be ensured that the passport is valid for the duration of the
student’s course.
4. In case of Indian institutes where confirmed admission letter may not be issued until
payment of fees, in such cases the student would need to satisfy Credila of fulfilling
the selection/ qualifying criteria for admission into the course or provide Credila with a
provisional letter.
Kindly ensure that the details provided in the above mentioned document/s match and there
is no discrepancy given in the information provided in Application Form or any other
supporting documents submitted along with that.

I) Fee Structure from the Institute*
* - Some institutes mention fee structure in the admission letter itself. It is acceptable.
a. Printed Letter from the Institute on the letterhead bearing the Institute’s address
mentioning course fee for the course for which the student is offered a seat, along
with the estimated living expenses and the stages in which the course fees needs to
be paid.
b. This letter also needs to be signed and stamped by authorized representative from
the Institute.
c. The fee structure published on the web or institute brochure is also acceptable
provided it is up to date.
d. The letter provided should not be more than six months old on the date of application
or any period prescribed by the Institute for which the letter would be valid
In case of Indian institutes where no separate communication for fees whether in the
admission letter or any other communication is provided, then in such cases the fees
structure as in the prospectus or on the website (provided the website is updated).
Kindly ensure that the details provided in the above mentioned document/s match and there
is no discrepancy given in the information provided in Application Form or any other
supporting documents submitted along with that.
J) Scholarship Proof
1. Scholarship confirmation letter on the Institute’s/ University’s letterhead duly signed
by the authorised representative of the Institute/ University offering scholarship.
2. Scholarship confirmation letter should mention following details.
a. Name of the student who has been offered the scholarship.
b. Amount of scholarship offered.
c. The duration for which the scholarship is valid.
d. Other terms & conditions, covenants, etc of scholarship, if any.
The collection of income proof and banking documents from student or Co-
Borrower would depend on the nature of course being pursued by student. In case
the student is going for a part-time course who would continue with his present
employment, then in such case it would not be mandatory to bring in an earning co-
borrower (though he/ she would still need to bring in a co-borrower who may be a
pensioner) and the credit appraisal would be possible on the basis of income proof
and banking documents of the student only.
It may also be noted that in some cases where the student is going for admission to a
Category A* or Category B** college/ institute/ university or going for Category A^ or Category
B^^ courses in a Category A* college/ institute/ university, Credila may permit a second co-
borrower who is an agriculturist or farmer in addition to a normal co-borrower having a steady
income stream with appropriate bank statements and income documents. In such cases, In
the absence of income proof document and/ or banking documents alternatively, an
appropriate written explanation should be collected from such co-borrower. Such written
explanation should comprise the reason for not being able to provide income proof and / or
banking documents along with the declaration of income in case of an ability to bring income
documents; such written explanation should be duly notified or attested by the Panchayat/
Talati/ Tehsildar/ any other similar body.
*Category A Universities includes Institutes of National Importance (e.g. IITs, IIMs, AIIMS) and US education
institutes with a published ranking in the range of 1 to 100.
**Category B Universities include deemed Universities (e.g. NITs, XLRI, BITS) and US education institutes with
a published ranking in the range of 101 to 300.
^Category A course includes MBA while ^^Category B course includes courses like Computer Engg., Information
Tech., Electrical Engg, Airplane Pilot Training Course, Electronics & Telecom. Engg., MBBS, MD, MS.

K) Banking Statements of the Co-borrower /Student (Part time course by working
executive)
The banking statements for eight months (including for the month in which the loan was
applied for) would be required which could include print outs of e-statements for the eight
months; however, the bank statements should include at least one quarterly bank statement
issued by the bank during the required period
1. The bank statements for the last eight months prior to which the loan has been applied
for. E.g. a loan is applied for on 8th October 2008, in such case the bank statements for
the period from 01 March 2008 to 08 October 2008 would be taken.
2. The above referred bank statements include savings bank accounts in which salary has
been credited or current bank accounts in which income / receipts of business /
profession are credited i.e. they should be operating accounts
3. The bank statement should not comprise solely of interest entries and transfer entries
4. If the operating account has transfer entries (i.e. amounts transferred into another bank
account), then the bank statements of those bank accounts for the period as mentioned in
points (1) and (2) should also be procured.
5. In case such bank statement comprises of EMI entries, then in such cases the repayment
track record of the loan should also be procured to determine his credit history.
L) Income Proof of the Co-borrower /Student (Part time course by working executive)
Following documents would be accepted as income proof of the Co-borrower /Student (part
time course by working executive).
In case of salaried employees, all of the following

1. Latest 3 salary slips or Salary Certificate on employer’s letterhead signed by
authorized person of the company with the company seal.
2. Latest 2 year’s Form 16 provided by the employer or Income tax returns for last 2
years with the Computation of Income.
3. Income proof of any other income not reflected in the income tax returns, if any
In case of self employed and professionals, all of the following

1. Last 2 years ITR with computation of income coupled with the certified financials viz.
Trading A/c, Profit And Loss Account and Balance Sheet and in case the Co-
Borrower is subjected to Tax Audit then the Tax Audit Report.
Provisional Financial Statements duly certified by the Chartered Accountant of the
Co-Borrower, would be applicable in case the returns for the latest years are yet to be
filed/ have not been filed.
2. Proof of Office (any one) - Lease deed / Utility bill / Municipal Tax receipt / title deed/
sales deed.
3. Income proof of any other income not reflected in the income tax returns, if any
M) Collateral documents
These would primarily be of two types: Moveable Property and Immoveable Property. It
should be noted that such property is encumbered and the title in such property is free
and transferable. Moreover, the title of such property should be in the name of the
borrower or co-borrower and in case where the property is jointly owned by two
persons wherein only one person is the party to the loan, then such joint owner should
also be brought into the deal as second co-borrower or a No Objection Certificate
(NOC) should be taken from such joint owner (who is not a party to the loan) stating
his consent to such mortgage and the realisation of such property in the event of
default towards recovery of loan outstanding dues.
In case of Moveable property – for life insurance policies, the documents to be collected
would primarily be
• Photocopies of the life insurance policies and
• Photocopies of the latest insurance premium receipts.
In case of KVP, NSC, etc, the photocopies of such instruments would be required

Life insurance policies should not be money-back schemes of life insurance policies or
Equity Linked Schemes or any insurance policy whose maturity would fall within the
term of the loan.
In case of Immoveable property – it would include mortgage of land (not agricultural land),
flats, bungalows, commercial premises (not being premises where manufacturing activity is
conducted), shops, etc. The location of such immoveable collateral should preferably be in
Credila’s approved list of collateral locations as provided herein in Annexure “B”.
Depending on the types of immoveable properties, the photocopies of the following

collateral documents would need to be collected. Kindly note that the description or name
of the document may vary from location to location as well as additional documents may be
called for depending on .
a) For Non-Agricultural Land

1. Registered Sale Deed/ Lease Deed/ Partition Deed/ Gift Deed/ Title Deed
under which the plot was purchased / acquired.
2. All previous chain of Sale Deeds establishing title of the original plot for the
last 30 years
3. Receipts for the payment made for the plot of land
4. 7/12 extract or Property Card as applicable for the property along with the
record of rights in Form No. 6
5. Index II
6. N.A permission & latest N.A. tax receipt
7. Encumbrance Certificate for 13 years
8. Money receipt issued by the Sub-Registrar
9. Property Tax receipt
a) For House Owned on Self Owned property (Bungalow)

1. Registered Sale Deed/ Lease Deed/ Partition Deed/ Gift Deed/ Title Deed
under which the plot was purchased / acquired.
2. All previous chain of Sale Deeds establishing title of the original plot for the
last 30 years
3. Receipts for the payment made for the plot of land
4. 7/12 extract or Property Card as applicable for the property along with the
record of rights in Form No. 6
5. Index II
7. Encumbrance Certificate for 13 years
8. Money receipt issued by the Sub-Registrar
10. Certified true copy of the agreement with the builder/ seller
11. Approved building plans
12. Detailed estimate of the cost of the project
b) For Flat owned in a registered co-operative society

1. Sale Deed/ Lease Deed/ Development Agreement of the builder / society
2. If a development agreement is executed, Power of Attorney from land owner
3. All previous chain of documents for the last 30 years (if any)
4. Layout copy

5. Layout approval
7. Commencement Certificate from Municipal Council / Corporation
9. Copy of Registration receipt
10. Latest 7/12 Extract
11. 6 D Extract for 13 years
12. 8 A Extract if applicable
13. Property Card Extract in the name of the owner of the land
14. If the land is within city survey limits, then instead of 7/12, 6 D and 8 A,
please collect city survey extract and property card extract
15. Completion Certificate
17. Allotment letter from society specifying the flat number and the cost of the flat
allotted
18. Share Certificate issued by the society (if issued)
19. Copy of society registration certificate and byelaws of the society
20. No Objection Certificate (NOC) of the society on their letterhead (as per
Annexure “D”)
c) For Flat owned in an unregistered society

2. If a development agreement is executed, Power of Attorney from land owner
3. All previous chain of documents (if any) for the last 30 years
4. Layout copy
5. Layout approval
e) For Flat/House in restricted society such as CIDCO/MHADA, other development

authority, etc
1. Allotment Letter from the Authority (CIDCO/ MHADA, etc.)
2. No Objection Certificate from the Development Authority (as per their
format)
3. Original receipts, issued by the Development Authority, for the payments
made for the flat
4. Municipal Sanction Plan, if any
5. Latest property tax receipt

f) For Shop/ Commercial Premises
2. If a development agreement is executed, Power of Attorney from land
owner
3. All previous chain of documents (if any) for the last 30 years
4. Layout copy
5. Layout approval
12. Copy of Registration receipt
N) Other Supporting Documents

1. Relationship Proof Document - any document for establishing the relationship
between the Student and Co-Borrower / Co-Borrower / Guarantor. The following
documents are construed as valid relationship proof documents for Credila
(1) Ration card,
(2) Marriage Certificate,
(3) Birth Certificate and
(4) School Leaving Certificate.
2. Statement of Account for the loans taken by the Student and Co-Borrower/s
(Repayment Track Record of loans)
3. Documentary proof of the age of retirement being more than the generally prescribed
58 years of age which may vary from an Appointment Letter, Employment Agreement
or any official communication in this regards.
4. Travelling expenses quotation
5. Estimate of Hostel and food expenses
6. On sanction being given; the Student is expected to produce the visa copy before
making disbursement of loan.

SEQUENCE OF DOCUMENTS IN THE CUSTOMER FILE
Application Form
1. Duly Signed and Completed Application Form with photograph affixed in
space provided
2. Additional sets of photograph of parties to the application
KYC Documents
3. Photo Identity Proof Document of Student
4. Photo Identity Proof Document of Co-borrower/s and Guarantor (if any)
5. Residence Proof Document of Student
6. Residence Proof Document of Co-borrower/s and Guarantor (if any)
7. Date of Birth Proof Document of Student
8. Date of Birth Proof Document of Co-borrower/s and Guarantor (if any)
9. Signature Verification Proof Document of Student
10. Signature Verification Proof Document of Co-borrower/s and Guarantor (if
any)
Academic Documents of the Student

11. Education certificates/ marksheets (starting with 10th class and end with
latest qualification)
12. Other educational certificate, English Proficiency Certificate, GRE/GMAT/
TOFEL/LETS, etc Marksheets For US Student, if any.
13. Students CV / Profile
Course/Institute related Documents

14. Proof of Admission
15. Proof of Fees details and Institute related Documents
16. Other additional Documents required for course. (I-20, Medical Certificate
etc)
Co-Borrower Documents
17. Banking Statements for eight months
18. Income Documents (starting with latest period) includes Latest 3 Salary slips,
Last two year’s Form 16 & ITR etc.
19. Movable Collateral documents.
20. Immovable Collateral documents.
Other Supporting Documents

21. Relationship Proof Document
22. Repayment Track Record (Starting with loan start date)
23. Any other documents in similar logical order such as Proof if age of
retirement exceeds 58 years of age, travelling quotation, etc.

Annexure “B”
LIST OF PREFERRED CO-BORROWER AND COLLATERAL LOCATIONS
S.N LOCATION STATE S.N LOCATION STATE

1 24 PARGANAS WEST BENGAL 46 CHITTOOR A.P.
2 AGRA U.P. 47 CHITTORGARH RAJASTHAN
3 AHMEDABAD GUJARAT 48 CHURU RAJASTHAN
4 AHMEDNAGAR MAHARASHTRA 49 COIMBATORE TAMILNADU
5 AJMER RAJASTHAN 50 CUDDAPAH A.P.
6 AKOLA MAHARASHTRA 51 CUTTACK ORISSA
7 ALAPUZHA KERALA 52 DARJEELING WEST BENGAL
8 ALLAHABAD U.P. 53 DAUSA RAJASTHAN
9 ALLAPUZHA KERALA 54 DEHRADUN UTTARAKHAND
10 ALPHUZA KERALA 55 DELHI DELHI
11 ALWAR RAJASTHAN 56 DEVANGERE KARNATAKA
12 AMRAVATI MAHARASHTRA 57 DHARWAR KARNATAKA
13 AMRELI GUJARAT 58 DHOLPUR RAJASTHAN
14 AMRITSAR PUNJAB 59 DHULIA MAHARASHTRA
ARIYALUR
15 (P.THIRU) TAMILNADU 60 DINDIGUL TAMILNADU
16 AURANGABAD MAHARASHTRA 61 DUNGARPUR RAJASTHAN
17 BANGALORE KARNATAKA 62 DURG CHATTISGARH
18 BANKURA WEST BENGAL 63 EAST GODAVARI A.P.
19 BANSWARA RAJASTHAN 64 ERNAKULAM KERALA
20 BARAN RAJASTHAN 65 FARIDABAD HARYANA
21 BAREILLY U.P. 66 FARIDKOT PUNJAB
22 BARMER RAJASTHAN 67 FATEHGARH SAHIB PUNJAB
23 BARODA GUJARAT 68 FEROZEPUR PUNJAB
24 BATHINDA PUNJAB 69 GADAG KARNATAKA
25 BELGAUM KARNATAKA 70 GANDHINAGAR GUJARAT
26 BHANDARA MAHARASHTRA 71 GHAZIABAD U.P.
27 BHARATPUR RAJASTHAN 72 GULBARGA KARNATAKA
28 BHATINDA PUNJAB 73 GUNTUR A.P.
29 BHAVNAGAR GUJARAT 74 GURDASPUR PUNJAB
30 BHILWARA RAJASTHAN 75 GURGAON HARYANA
31 BHOPAL M.P. 76 GWALIOR M.P.
32 BIDAR KARNATAKA 77 HANUMANGARH RAJASTHAN
33 BIJAPUR KARNATAKA 78 HASSAN KARNATAKA
34 BIKANER RAJASTHAN 79 HOOGHLY WEST BENGAL
35 BILASPUR H.P. 80 HOSHIARPUR PUNJAB
36 BIRBHUM WEST BENGAL 81 HOWRAH WEST BENGAL
37 BROACH GUJARAT 82 HYDERABAD A.P.
38 BULDHANA MAHARASHTRA 83 IDUKKI KERALA
39 BULSAR GUJARAT 84 INDORE MP
40 BUNDI RAJASTHAN 85 JABALPUR MP
41 KOLKATA WEST BENGAL 86 JAIPUR RAJASTHAN
42 CALICUT KERALA 87 JAISALMER RAJASTHAN
43 CHANDIGARH CHANDIGARH 88 JALANDHAR PUNJAB
44 CHANDRAPUR MAHARASHTRA 89 JALGAON MAHARASHTRA
45 CHENNAI TAMILNADU 90 JALORE RAJASTHAN

91 JALPAIGURI WEST BENGAL 136 MORADABAD U.P.
92 JAMNAGAR GUJARAT 137 MUKTSAR PUNJAB
93 JHALAWAR RAJASTHAN 138 MUMBAI MAHARASHTRA
94 JHUNJHUNU RAJASTHAN 139 MURSHIDABAD WEST BENGAL
95 JODHPUR RAJASTHAN 140 MYSORE KARNATAKA
96 JUNAGADH GUJARAT 141 NADIA WEST BENGAL
97 KACHCHH GUJARAT 142 NAGAI QUAIDE MILL TAMILNADU
98 KAIRA GUJARAT 143 NAGAUR RAJASTHAN
99 KANCHEEPURAM TAMILNADU 144 NAGPUR MAHARASHTRA
100 KANNAURAL KERALA 145 NALGONDA A.P.
101 KANNUR KERALA 146 NAMAKKAL TAMILNADU
102 KANPUR U.P. 147 NANDED MAHARASHTRA
103 KANYAKUMARI TAMILNADU 148 NASIK MAHARASHTRA
104 KAPURTHALA PUNJAB 149 NAVSARI GUJARAT
105 KARIMNAGAR A.P. 150 NAWANSHAHR PUNJAB
106 KAROLI RAJASTHAN 151 NEILLAIKATTAMBOMM TAMILNADU
KARUR
107 DHEARAM TAMILNADU 152 NELLORE A.P.
108 KASARGODE KERALA 153 NILGIRI TAMILNADU
109 KHANNA PUNJAB 154 NIZAMABAD A.P.
110 KOLAR KARNATAKA 155 NORTH ARCOT TAMILNADU
111 KOLHAPUR MAHARASHTRA 156 PALAKKAD KERALA
112 KOLKATA WEST BENGAL 157 PALGHAT KERALA
113 KOLLAM KERALA 158 PALI RAJASTHAN
114 KOTA RAJASTHAN 159 PATHANAMTHITTA KERALA
115 KOTTAYAM KERALA 160 PATIALA PUNJAB
116 KOZHIKODE KERALA 161 PATNA BIHAR
117 KRISHNA A.P. 162 PERIYAR TAMILNADU
118 KURNOOL A.P. 163 PONDICHERRY PONDICHERRY
119 KUTCH GUJARAT 164 PRAKASAM A.P.
120 LUCKNOW U.P. 165 PUDUKKOTTAI TAMILNADU
121 LUDHIANA PUNJAB 166 PUNE MAHARASHTRA
122 MADURAI TAMILNADU 167 PURBA MEDINIPUR WEST BENGAL
123 MAHBUBNAGAR A.P. 168 PURULIA WEST BENGAL
124 MALAPURAM KERALA 169 RAIGAD MAHARASHTRA
125 MALDA WEST BENGAL 170 RAIPUR CHHATISGARH
126 MANDYA KARNATAKA 171 RAJASMAND RAJASTHAN
127 MANSA PUNJAB 172 RAJKOT GUJARAT
128 MATHURA U.P. 173 RAMANATHAPURAM TAMILNADU
129 BHUBANESWAR ORISSA 174 RANCHI JHARKHAND
130 MEDAK A.P. 175 RANGAREDDY A.P.
131 MEERUT U.P. 176 RATNAGIRI MAHARASHTRA
132 MEHSANA GUJARAT 177 ROPAR PUNJAB
133 MIDNAPUR WEST BENGAL 178 S MADHOPUR RAJASTHAN
134 MOGA PUNJAB 179 SABARKANTHA GUJARAT
135 MOHALI PUNJAB 180 SALEM TAMILNADU

181 SANGLI MAHARASHTRA 201 TONK RAJASTHAN
182 SANGRUR PUNJAB 202 TRICHUR KERALA
183 SAWAIMADHOPUR RAJASTHAN 203 TRIVANDRUM KERALA
184 SHIMOGA KARNATAKA 204 TUMKUR KARNATAKA
185 SHOLAPUR MAHARASHTRA 205 TUTICORIN TAMILNADU
186 SIKAR RAJASTHAN 206 UDAIPUR RAJASTHAN
187 SIROHI RAJASTHAN 207 UDUPI KARNATAKA
188 SIVAGANGA TAMILNADU 208 UTTAR KANNARA KARNATAKA
189 SOLAN H.P. 209 VELLORE TAMILNADU
190 SOUTH ARCOT TAMILNADU 210 VILLUPUIRAM TAMILNADU
191 SOUTH CANARA KARNATAKA 211 VIRUDHUNAGAR TAMILNADU
192 SRIGANGANAGAR RAJASTHAN 212 VISHAKAPATNAM A.P.
193 SRIKAKULAM A.P. 213 VIZIANAGRAM A.P.
194 SURAT GUJARAT 214 WARANGAL A.P.
195 SURENDRANAGAR GUJARAT 215 WARDHA MAHARASHTRA
196 TANJORE TAMILNADU 216 WAYANAD KERALA
197 THANE MAHARASHTRA 217 WEST DINAJPUR WEST BENGAL
198 THIRUVARUR TAMILNADU 218 WEST GODAVARI A.P.
199 TIRUCHIRAPALLY TAMILNADU 219 WYNAD KERALA
200 TIRUNELVELI TAMILNADU 220 YEOTMAL MAHARASHTRA
** The locations provided herein are the preferred locations where the immoveable property sought
to be offered as collateral should be located or where the co-borrower/s is / are based at. Please
note that the location given above covers only the area falling within the District HQ’s limits or
municipal limits.

Annexure “C”
SIGNATURE AUTHENTICATION
To,
Credila Financial Services Private Limited
________________________________
________________________________
________________________________
Date:
This is to certify that, Mr. / Ms. ___________________________________ is having

a Savings / Current Account No. ______________________ at our branch. The
Account is operative since _______________ and his / her signature given below
matches with his / her signature as per our records.
Name: __________________________
A/c No: __________________
Signature: __________________________
Verified by
_____________ _________________ __________________________

Name Designation Signature with Rubber Stamp

Annexure “D”
Draft Format of the NOC (No Objection Certificate) from the

Co-operative Housing Society (On Society Letterhead)
(delete the grey portion highlighted if not applicable)
Date :
Place :
To
Credila Financial Services Private Limited
B – 301, Citi Point, Andheri – Kurla Road,
Next to Kohinoor Continental,
Andheri (East), Mumbai – 400 059
Dear Sirs,
Re : Flat No. …….. of Mr. / Ms. …………………………………………………………………… in

the building named …………………………………………….. of …………………………………...
………………. Co-op Housing Society Limited, situated at ………………………………………..
This is to confirm that our above named society registered under no. …….. dated ……………
is the owner of the above building pursuant to the conveyance dated …………………………
registered under no. ……………………… dated ……………………..
OR
The deed conveying / transferring the land and the said building to our society is not yet
executed and it will be done in due course.
Mr. / Ms. ………………………………………………………………. Is a registered member of

our society and share certificate no. ……….. , dated ……………… for shares bearing
distinctive nos. ……..…… to …………... stand in his/ her name in respect of flat no. ……….
And the said flat is possessed by him/ her.
The said flat is possessed by Mr. / Ms. ……………………………………………………….. (“the

said member”)
OR
Mr. / Ms. ………………………………………………………………. Is a registered member of

our society and the said flat is possessed by Mr. / Ms.
……………………………………………………….. ( “the said member”). The share certificate
has not yet been issued by the society to the said member.
We hereby assure you that the said flat, as well as the said building and the land appurtenant
thereto are not subject to any encumbrance, charge or liability of any king whatsoever and
that the entire property is free and marketable.
We further confirm that we have a clear, legal and marketable title to the said property and
every part thereof, and that all taxes and dues in respect thereof have been paid upto date.
We confirm that there are no restrictive/ negative covenants in the byelaws / rules of the
above mentioned society concerning the transfer of shares/ members interest in the society
and other related matters.
We are informed by the said member that Credila Financial Services Private Limited has
granted / agreed to grant an education loan of Rs. ………………………… to the said member

upon the terms and conditions, one of which stipulates creation of security by way of
mortgage by deposit of original documents of title pertaining to the said flat in your favour / in
favour of your security trustee. The said member has requested us to permit him / her to
create the said security over the said flat and the shares (as and when issued) in favour of
your company/ in favour of your security trustee.
We, hereby confirm and agree we have “No Objection” to permit the said member to create
security in favour of your company/ in favour of your security trustee by way of mortgage of
the right, title, interest of the said member in the said shares and the said flat with you/ in
favour of your security trustee for repayment of the said loan and we hereby agree to note the
mortgage charge on the said flat in our books.
We also confirm that there are no outstanding dues/ charges payable by the said Member in
respect of the said flat and he/ she has paid all the taxes and dues in respect of the said flat
upto date.
We undertake not to allow the said Member to transfer / further transfer / cancel the said flat
or add any name in the share certificate without the prior written permission of your company/
your security trustee and as soon as the share certificates are issued by the society to the
said Member, the same will be forwarded directly to the Company (if applicable)/ the security
trustee.
And we agree to accept, subject to the byelaws of our society, in future, the application for
membership from the person/s, firm, company to whom the said flat and the right, title and
interest of the said Member in the said shares will be transferred/ sold, on enforcement of the
said security.
Yours faithfully,
For …………………………. Co-op. Hsg. Soc. Ltd.
Authorised Signatories
(Secretary and/ or Chairman / President)

Credila Instructions V2

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Credila Instructions V2

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INSTRUCTION MANUAL

FOR FILLING IN THE CREDILA STUDENT LOAN

© Credila Financial Services Proprietary and Confidential Ver 2.0 Page1

PREFACE TO THIS INSTRUCTION MANUAL:

© Credila Financial Services Proprietary and Confidential Ver 2.0 Page2

PAGE 1 OF THE CREDILA STUDENT LOAN APPLICATION FORM

SECTION A - APPLICATION FOR EDUCATION LOAN

TOP LEFT HAND STUB OF THE APPLICATION FORM

1. Passport size photographs (Size: 4.0cm x 3.5cm)

1) the loan amount in words and figures should match and

© Credila Financial Services Proprietary and Confidential Ver 2.0 Page3

Point # 2 – Father’ Name

Point # 3 - Date of Birth

© Credila Financial Services Proprietary and Confidential Ver 2.0 Page4

Point # 6 - Mother’s Maiden Name

Point # 7 – Present Residential Address

- Permanent Residential Address

This can be understood more clearly through this simple grid:

© Credila Financial Services Proprietary and Confidential Ver 2.0 Page5

CONT’D - SECTION B: STUDENT DETAILS

Point # 8 – Landline No. (Present)

Point # 9 – Landline No. (Permanent)

Point # 11 – Mobile No.

© Credila Financial Services Proprietary and Confidential Ver 2.0 Page6

Point # 15 – Last Degree Received (if any)

Point # 16 – Name of Last University Attended

Point # 17 – Name of Last College Attended

Point # 18 – Education Details of the Student

© Credila Financial Services Proprietary and Confidential Ver 2.0 Page7

SECTION C: COURSE DETAILS

Point # 1 – Course of Study

Point # 2 – University / Education Institute

Point # 3 – University / College Address

© Credila Financial Services Proprietary and Confidential Ver 2.0 Page8

Point # 4 – Course Duration

Point # 5 – Part Time or Full Time

Point # 6 – Date of Commencement of Course

Point # 7 – Last Date to Pay Fees

Point # 8 – Admission Type

© Credila Financial Services Proprietary and Confidential Ver 2.0 Page9

Point # 9 – Study Location

Point # 10 – Course Type

Point # 11 – Parent is in the same profession as course of study

© Credila Financial Services Proprietary and Confidential Ver 2.0 Page10

SECTION D: CALCULATION OF LOAN (IN RUPEES)

© Credila Financial Services Proprietary and Confidential Ver 2.0 Page11

Please go through the illustration below:

1) Tuition Fees 925,000 925,000 - - - 1,850,000

2) Examination Fees 25,000 25,000 - - - 50,000

1) Own Sources 455,000 400,000 855,000

2) Scholarships 250,000 - - - - 250,000

3) Others 250,000 - - - - 250,000

Total B 955,000 400,000 - - - 1,355,000

Point # 10 – Describe in details from where the funds are available

© Credila Financial Services Proprietary and Confidential Ver 2.0 Page12

SECTION E: CO-BORROWER DETAILS

A co-borrower based in India is mandatory even in case of a loan taken by a working

Point # 2 – Father’ Name

© Credila Financial Services Proprietary and Confidential Ver 2.0 Page13

Point # 3 – Date of Birth

Point # 5 – Marital Status

Point # 6 - Mother’s Maiden Name

Point # 7 – Present Residential Address