Part Payment | Foreclosure Request Form - Education Loans (Individuals)

Date: ______________ From,

Full Name: ____________________________________________________

Address: ______________________________________________________

_________________________________________________________________
To,
Registered Mobile No: _______________________________________
Avanse Financial Services Limited (The “Lender”)
Alternate Mobile No: _________________________________________
Branch Name ________________________
Registered Email ID: _________________________________________

Dear Sir / Madam,

Loan Account No: ______________________________________________ Product: __________________________________________________

PAN: ___________________________________________ GSTIN (if applicable) ________________________________________________________

1. I/We have availed a loan under the above mentioned Loan Account No. and would like to make part payment of
₹ ____________________________ (₹_________________________________________________________________________________________) in the said
loan account.
2. I/We are aware that part-payments are subjected to levy of account handling charges (including GST) as per Schedule
of Charges available on website of Company.
3. I/We are aware that outstanding dues (EMI or any other charges) would be adjusted from the part amount paid.
4. I/We are aware that gap interest would be levied from EMI due date to date of payment of part amount.
5. I/We are aware that effect of part-payment will be given from the next EMI due date, subject to realization of funds on
or before 25th of the month.
6. I/We request for the following impact to be given towards the part prepayment amount

Reduction in Tenure  Reduction in EMI 

Please Tick () the relevant options from the above table
7. I/We would like to close the loan and would like to make payment of ₹_____________________________________
(₹________________________________________________________________________________ ) in the said loan account.

Thank for choosing us as your

“Preferred Education Financing Partner”
For more information

wecare@avanse.com +91 9819080080 18002660200 www.avanse.com

Registered & Corporate Office: 001 & 002 Fulcrum, A-Wing, Ground Floor, Sahar Road, Next to Hyatt Regency, Andheri (East), Mumbai-400099,
Maharashtra. CIN: U67120MH1992PLC068060
8. I/We declare that the source of funds towards this part prepayment / foreclosure is as stated below

Own funds / savings  Sale of Immovable Property 

Sale of Other Investments (including
Borrowed from friend / relative / family member  
Jewellery/Shares etc.)
Borrowed from Financial Institutions 
Please Tick () the relevant options from the above table

9. Preferred mode of repayment

Payment Gateway  Cheque Deposit 

Please Tick () the relevant options from the above table

10. I/We have read and understood the Schedule of Charges available on the website of the Lender. https://www.avanse.com/revised-
schedule-of-charges.php.and accordingly agree to pay the document retrieval & account updating/handling charges (at the time of
closing the loan account).
11. I/We are aware that scheduled repayments / EMIs may get debited during the loan closure process. Any such excess payments
received would be refunded post closure of the loan in my/our Bank account provided to you.
12. I/We hereby agree to provide a certified copy of PAN along with the form & other documentations.
13. I/We understand that I / We have to inform the company once the above payment is made and that the company shall provide this
effect basis my confirmation about payment being made
14. I/We, hereby request you to process cancellation of below mentioned Insurance policy/ies subject to the terms of the policy
document. I/We have formally communicated the same to the insurer and shall complete the forms and formalities accordingly.

SL Nature of Policies Policy No

15. I / we agree to pay the entire outstanding amount in the loan account in order to complete the loan closure formalities. Any proceeds
from insurance cancellation would be remitted to our Bank Account after loan closure.
16. In case of any outstanding dues payable by us in the Loan Account, I/We shall authorize adjusting any proceeds payable to us from
insurance towards payment of outstanding in the loan account.
17. I/we, hereby accord my/our consent to Avanse Financial Services Limited to cancel / destroy any cheques / instruments issued by
us toward securing the loan repayments after closure of the loan. We note to make the stop payment instructions of these
instruments with our bank.

Yours Sincerely,

(Signature of Borrower/Co-borrower)

Customer Acknowledgement
Customer Name: _______________________________________________________ Date of Request: ___________________________ Branch: ________________________________

Service Request No.:_________________________ Remittance Purpose: Foreclosure / Part prepayment Remittance Amount _________________________________

Remittance Date _________________________ Remittance Mode: Cheque / Payment Gateway Remittance Reference No.____________________________________

Name of the Official ______________________________________________________________ Signature __________________________________________

Registered & Corporate Office: 001 & 002 Fulcrum, A-Wing, Ground Floor, Sahar Road, Next to Hyatt Regency, Andheri (East), Mumbai-400099,
Maharashtra. CIN: U67120MH1992PLC068060