LOAN APPLICATION FORM/AGREEMENTEducational Loan Agreement • October 23rd, 2019
The Parties agree that FUNDI will advance the Loan Amount to the Applicant and pay it directly to the relevant Service Provider for and on behalf of the Student. The Applicant undertakes to repay the Total Amount Repayable in the number of monthly instalments as detailed in the Repayment Schedule above. Where applicable, the Applicant authorises his/her Employer specified above to deduct the monthly instalments from his/her salary. Any charges levied by the Employer to effect the salary deduction will be for the account of the Applicant and the Employer will recover the costs directly from the Applicant’s salary. If FUNDI does not have a deduction agreement with the Applicant’s Employer, or if a salary deduction cannot be executed or is not applicable, the Applicant authorises FUNDI to deduct the monthly instalments from the bank account specified above via a debit order. All debit order deductions will be aligned with the Repayment Date, which will be the salary date of the Applicant
