Enlighten- Product

We propose these Two Products (You can select any 1 Product from the 2
Product Mentioned Below):

Product 1:

** Total Discount from Institute on this Product for the mentioned Amount is 2947.5
** 2nd loan will auto-approve if all the EMIs for 1st loan are paid i.e after 5th Month
** Partial Disbursement to Institute -
     In 1st Loan, after receiving 1st EMI the Institute will Receive Fees Amount Upfront 
     In the 2nd Loan, after Receiving 6th EMI the amount will be disbursed to the Institute

1st Loan
Single Tranche Model      
Fees Amount 15,000  
# of EMIs to Parent 5  
Discount Offered by Institute 5.65%  
Interest on Parent 0.00%  
Processing Fees 0  
EMI Amount 3000.00  
Discount Amount 847.5  
   

Deposit To the Collection From

EMI # Month Institute Account Parent
1 Oct-21 14,153 3000.00
2 Nov-21   3000.00
3 Dec-21   3000.00
4 Jan-22   3000.00
5 Feb-22   3000.00
 2nd Loan
Single Tranche Model      
Fees Amount 30,000  
# of EMIs to Parent 7  
Discount Offered by Institute 7.00%  
Interest on Parent 0.00%  
Processing Fees 0  
EMI Amount 4285.71  
Discount Amount 2100  
   

Deposit To the Collection From

EMI # Month Institute Account Parent
6 Mar-22 27,900 4285.71
7 Apr-22   4285.71
8 May-22   4285.71
9 Jun-22   4285.71
10 Jul-22   4285.71
11 Aug-22   4285.71
12 Sep-22   4285.71

Product 2:

** Total Discount on this Product for the mentioned Amount is 3450

** 2nd loan will auto-approve if the EMI for 5 months is paid
** 6th EMIs would be a overlap
** 6th EMI should be the sum of both EMIs i.e 5833.33 For the Mention amount

** Partial Disbursement to Institute -

     In 1st Loan, after receiving 1st EMI  the Institute will Receive Fees Amount Upfront 
     In the 2nd Loan, after Receiving the 6th EMI the amount will be disbursed to the Institute

1st Loan
Single Tranche Model
Fees Amount 15,000    
# of EMIs to Parent 6    
Discount Offered by Institute 6.00%    
Interest on Parent 0.00%    
Processing Fees 0    
EMI Amount 2500.00    
Discount Amount 900    
       
Deposit To the Institute Collection From
EMI # Month Account Parent
1 Oct-21 14,100 2500.00
2 Nov-21   2500.00
Dec-21
3   2500.00
4 Jan-22   2500.00

Feb-22
5   2500.00
6 Mar-22   2500.00

2nd Loan (2nd Loan will Start after Receiving the 5th EMI)
Single Tranche Model
Fees Amount 30,000    
# of EMIs to Parent 9    
Discount Offered by Institute 8.50%    

Interest on Parent 0.00%    

Processing Fees 0    
EMI Amount 3333.33    

Discount Amount 2550    

       
Deposit To the Collection
EMI # Month Institute Account From Parent
1 Mar-22 27,450 3333.33
2 Apr-22   3333.33
3 May-22   3333.33
4 Jun-22   3333.33
5 Jul-22   3333.33
6 Aug-22   3333.33
7 Sep-22   3333.33
8 Oct-22   3333.33
9 Nov-22   3333.33