Income Sharing Agreement

What is an ISA?

An Income Sharing Agreement or the ISA, allows you to share a part of your income with us as course fee. The ISA would get activated only and ONLY when you start earning using the skills you learn from the bootcamp.

How does ISA work?

• As soon as you get a job paying you a CTC between ₹3 LPA - ₹5 LPA, you will pay us 7.5% of your CTC in equal monthly instalments (EMI) for a period of 24 months.
• If you get a job that pays you a CTC above ₹5 LPA, then you will pay us 10% of your CTC in equal monthly instalments (EMI) for a period of 24 months.
• Your EMI stops after the completion of the 24 month period or when the total of your monthly payments amounts to ₹3 lakhs.
• You would be legally bound to submit various documents such as salary slips, offer letter, Form 26AS, bank statements, etc.
• ISA is to be signed by SwiftHyre, you and your parent (or legal guardian).

ISA has zero upfront payment. Do I still pay the registration fee of ₹4,999?

Yes. The registration fee is a payment to block a seat for the course. However, it is adjustable in your future ISA payments.

Alternatively, it's refundable within Week 1 of the course, if you decide to drop out within that time.

How does ISA payment collection happen?

You will be required to sign an acknowledgement letter, which will authorize your banks to activate the ECS (Electronic Clearance System) for authorizing auto-debits every month for deduction of 10% of your salary monthly in the SwiftHyre's account.

When do I have to start paying as per the ISA?

Your EMI starts as soon as you receive your first salary after joining a company.

How will you verify my income?

You would be legally required to submit the following documents:

• Offer Letter
• Salary Slips
• Bank Statements
• Form 26AS  

What documents do I have to submit? And what are the deadlines?

You will need to submit the following documents:

• ISA agreement - Within 2 days of receiving the ISA and other respective documents.
• Offer Letter - Withing 24 hours of receiving the offer letter.
• Student profile & Resume - Within 15 days of notice sent by our Placement cell.  
• Salary slip - Within 5 days of receiving the salary.
• KYC Documents - Within 5 days of the notice sent by our KYC partners.
• Bank details - Within 7 days of joining the company post an employment offer..

Will I have to pay if I quit the job or get fired?

• If you quit, then yes. You will continue paying the EMI.
• If you get fired, then we offer a 3 month moratorium period where you don't pay any EMI unless you get another job. We also help with placements during this 3 month moratorium period.

Will I have to pay if I change my Job?

Yes. Once you join the new company, you will need to furnish the first month's salary slip and offer letter of the new job.  

How can I terminate the ISA?

The ISA terminates automatically once you have paid all the EMI for 24 months, or the total of all your EMI's amount to ₹3 lakhs, whichever is earlier.

You can terminate the ISA before either of that happens, subjected to the following termination fees:

• After 2 weeks from the start of the bootcamp - ₹10,000
• After 1 month from the start of the bootcamp - ₹25,000
• After 1.5 months from the start of the bootcamp - ₹50,000
• After 2 months or more from the start of the bootcamp - ₹1,00,000
• After the completion of bootcamp but before getting an offer letter - You’ll have to pay is an upfront fee of ₹1 lakh
• After getting an offer letter and during employment - You will have to pay us an upfront fee of ₹3 lakhs, minus the total of all the monthly payments up until then.

How does ISA work if I want to build a startup/freelance business, instead of a job?

Our bootcamp is designed for people who want a job after the bootcamp is over. If you want to opt for a startup/freelance career, then we have the following procedure in place:

• You will need written approval from us for NOT participating in the placement process and withdrawing from the ISA agreement; &,
• Pay an upfront fee of ₹1 lakh withing 30 days from obtaining approval to withdraw from the ISA agreement

For how long do I need to pay the EMIs?

You will need to pay EMIs for 24 months starting from your job joining date unless the total of all your EMIs amount to ₹3 lakhs. That means if the cumulative amount of all your EMIs reach ₹3 lakhs within 18 months, the ISA terminates and you don't pay anything for the remaining 6 months

Can I pay all the ISA payments at Once?

Unfortunately, we don't offer such an option at the moment. However, you will be able to terminate the ISA before 24 months or before you reach a total EMI ceiling of ₹3 lakhs, subjected to the following termination fees:

• After 2 weeks from the start of the bootcamp - ₹10,000
• After 1 month from the start of the bootcamp - ₹25,000
• After 1.5 months from the start of the bootcamp - ₹50,000
• After 2 months or more from the start of the bootcamp - ₹1,00,000
• After the completion of bootcamp but before getting an offer letter - You’ll have to pay is an upfront fee of ₹1 lakh
• After getting an offer letter and during employment - You will have to pay us an upfront fee of ₹3 lakhs, minus the total of all the monthly payments up until then.

What will happen if I do not pay any EMI? or What us an ISA Breach?

An ISA breach applies when you fail to pay one or more EMI's under any of the following circumstances:

• In case of a default, the guarantors (in this case your parents or legal guardian) will be liable to pay the balance unpaid income share, with an additional interest rate of 25% per annum on the default amount. This liability arises only after 3 months from the date the default.
• In case you fail to pay EMIs for 3 consecutive months, you will be required to pay the ceiling of the ISA i.e. ₹3 lakhs with an additional interest of 25% per annum on the default amount, from the date of default. You will be required to pay this within 30 days from the communication of the default.
• If you fail to intimate us of securing a job, you will be required to pay ₹1 lakh within a month from the date of communication of the default.
• In case you wish to leave the territorial boundaries of India, you would be required to pay us ₹3 lakhs minus the amount you have already paid by way of EMIs before you leave India.
• If you want to pursue higher studies instead of getting a job, you would be required to pay us ₹1 lakh.

What is an ISA Breach Recovery Cheque?

• ISA breach recovery cheque is ₹50,000 cheque which you will submit to us along with the ISA.
• The cheque should be from your parent's or legal guardian's bank account. It would be an un-dated cheque and in the name of our company.
• The cheque would only be executed if and when you default with your EMI payments.

Course & Enrollment

How do I enrol for this bootcamp?

All you have to do is click here, select the payment option, pay the registration fee of ₹4,999 and you will be enrolled into the bootcamp.

When does the bootcamp start?

We have multiple batches throughout the year. Please check out for upcoming batch schedules.

Is it a part-time course?

No, it is a full-time course. You have to mandatorily dedicate around 8-hours every day to this bootcamp.

We strongly recommend you don't combine this bootcamp with a job or any similar engagement.

What certificate will I get at the end of the bootcamp?

You will receive a certificate of completion at the end of this bootcamp.

However, please note that this certificate isn't certified by AICTE or UGC or any university.

What's the medium of instruction of this bootcamp?

The Bootcamp will be online and LIVE.

Will the recordings of the live classes be available after the completion of the bootcamp?

Yes. You can download the recordings of live classes once the Bootcamp is over, for lifetime access.