9th October 2017

Visa Officer
Student Visa Section
Australian High Commission,
New Delhi

Dear Visa Officer,

Re: Visa application for Mr. Akash Rajendrakumar Patel

Financial Assessment

Name: Akash Rajendrakumar Patel

Gender & Marital Status: Male, Single
Nationality: India
Course: Elicos+ Master of Management for Engineers
Part A: Total Expenses required for 12 months as per DIBP:

Funds Required For 12 Months Expenses as Per DIBP Guidelines

Part A (i) Tuition Fee + OSHC

1. ELICOS fees –                                                    AUD   3,500.00
2. Tuition fees (12 Months) –                          AUD 28,354.00 (After ISS)
3. OSHC charges –                                                AUD   1,523.00
              Total                                                                        AUD 33,377.00 (INR 16.96/- Lakh)
Part A (ii) Living + Travel Expenses
1. Living expenses (12 Months + 10 Weeks) –         AUD 23,630.00
2. Travelling charges –                                                   AUD   2,000.00
Total                                                                              AUD 25,630.00 (INR 13.02/- Lakh) rounded off
to INR 14.25 lac.

We have added more funds to cover the exchange rate movement & rounding it off to INR 14.25 Lac.

Funds Required For 12 Months Expenses as Per DIBP Guidelines:  AUD 59,007.00 = INR 31.21 lakh.

Part B
Source of income, as per documentary proof: - INR 16.07 Lac

Applicant’s Family Income                                                  -             INR   7.98 Lac

Applicant’s Maternal Uncle Income                                -              INR    8.09 Lac
                                                                                                                INR 16.07 Lac
  Applicant’s Father – Annual Income – INR 4.97 Lac (As per ITR 2016-17 & 2017-18) – Verified.

 Applicant’s Mother – Annual Income – INR 3.01 Lac (As per ITR 2016-17 & 2017-18) – Verified.

 Applicant’s Maternal Uncle – Annual Income – INR 8.09 Lac (As per ITR 2016-17 & 2015-16) –
Verified.

Part C

Funding as per documentary proof provided by the student - Total – INR 41.65 Lacs (Shown).

 Prepaid Fees- 1 Term tuition fees+ Elicos+ OSHC: AUD 15,360

Source: The source of the fund is the student took an axis education loan letter dt. 05/06/2017 of
Axis Bank for INR 7.50 Lacs issued in the name of Applicant.  (Copy of education loan sanction
letter, loan disbursement letter and loan account statement provided).

 Approved Education Loan from Punjab National Bank, Ashram Road Branch for INR
27,00,000/- Lacs vide Loan Ref No: PNB/EDU/AAA-2017-18 (Approved Date:
21/08/2017).

 Collateral Security: Equitable Mortgage of residential Property in the name of Mr.

Rajendrabhai Ishwarlal Patel (Applicant Father) situated at 37, Devendranagar Soc, Nr.
Ganpatnagar, Bamroli Road, Pandesara, Gujarat City, Gujarat- 394220 Value of Property
is INR 30,00,000/- Lacs.

The education loan is sanctioned for INR 27.00 Lac and INR 7.98 Lacs has been reimbursed on
04/10/2017 in Applicant’s Father State Bank of India Saving A/c No. 31735979103 as per the
recent changes which occurred on 6th September 2017 by DIBP the bank reimbursed my 1st
semester fees to the Applicant Father State Bank of India A/c number as mentioned below
after providing the letter from AEERI and Agent digest issued by DIBP. Now balance amount
available to student is INR 19.02 Lac.

Part D: Funding arrangement provided for the 12 months Living expenses & Travelling
Charges

 Applicant’s Father – State Bank of India Saving A/c No. 31735979103 showing balance of INR
8.00 Lac (As per statement from 15/03/2017 to 04/10/2017 provided). – Approved There is
recent deposit of INR 7.98 Lac on 04/10/2017 received against disbursement of education loan
of Punjab National Bank for INR 27.00 Lacs. Copy of education loan disbursement letter and loan
account statement provided.
 Applicant – State Bank of India Saving A/c No. 34200505274 showing balance of INR 2.87 Lac
(As per statement from 01/03/2017 to 04/10/2017 provided) – Maintained: Approved

 Applicant’s Parents – State Bank of India Joint A/c No. 36341692394 showing balance of INR
4.26 Lac (As per statement from 01/03/2017 to 04/10/2017 provided) – Maintained: Approved

- Total available funds after making the elicos + 1-term tuition fee  + OSHC payment = INR
34,15,000

- Education Loan- Rs 19,02,000 (Declared under Part C)

- Bank Savings - Rs 15,13,000 (Declared under Part D)