Simply turn it into easy EMI option with
Got the marks but unable to take admission to a college of your choice due to lack of sufficient funds? Missed an admission date because the bank loan approval didn’t come through on time?
This is the worst situation that can come in the way of a student and crush his/ her dreams of getting a quality education from the best college! At Collegedekho.com, we understand your problem and that is why, for the first time in the history of Indian Higher Education, we bring to you, a simple offer – Collegedekho Loan Facility!
How about CollegeDekho.com takes care of all your financial worries and pays your 1st semester fees to the college (duration 5 months) and you can pay a fixed monthly EMI (at 0% interest) to Collegedekho in return?
Collegedekho has collaborated with NBFC (also known as Non-Banking Financial Company) under the RBI that is engaged in the business of loans and advances, acquisition of shares, stock, bonds, hire-purchase insurance etc.
The loan granting organisations under NBFC to facilitate Collegedekho Loan Facility include: Eduvanz, Liquiloans & Propelld.
Apply to a college through Collegedekho.com or through CAF platform
Raise your requirement to avail Collegedekho Loan Facility
Submit docs like Bank Statement, Aadhar Card Pan and Address Proof (Passport, Voter ID, DL etc.)
Apply to a college through Collegedekho.com or through CAF platform
At the time of admission, pay 1st installment total semester fees (Plus processing fee of Rs. 885/- only including GST)
Collegedekho will pay the remaining 5 semester fees to the college at the time of admission on your behalf
Note In case of cancellation of college admission, terms & conditions as per college’s Cancellation Policy (minus processing fee) will apply.
Clearance of your loan application is subject to approval by NBFC
Yes, you will be able to get a 100% refund, but only for the amount paid to CollegeDekho within a 30-days period. The one-time processing fee of Rs. 850 is not refundable.
Documents that you will be required to submit to avail the Collegedekho Loan Facility include: ~Aadhar Card ~PAN Card ~3 Months Bank Statement ~Address Proof (Passport, Voter ID, DL)
This is a 0% interest (interest free) EMI option. Only a standard processing fee of INR. 850 /- needs to be paid by the student.
A refund will be made by the college as per College Policy / UGC policy as mentioned in the college offer letter.
0% EMI is available for upto Rs 70,000 per semester. If the total fee amounts to more than this, the student will incur an additional charge @ 3%, interest rate. For e.g. if the fees including hostel for 1st semester is Rs. 90,000, then total payback by the student will be: Rs. 70,000 (0% EMI) + Rs. 20,000 + 3% on 20,000 = Rs. 600/-). So total EMI will be come 90,600 divided by 6 = Rs. 15,100 /- per month (Plus Rs. 850/- Processing Fee extra)
The refinancing of EMI for 2nd semester fee can happen basis the payment discipline of 1st semester fee and the agency will contact students to refinance, in the last month of 1st semester.
No, the processing fee will not be refunded, only the first EMI paid will be refunded.
Yes, students from all disciplines can avail the Collegedekho Loan Facility.
No, this scheme is available for 1st semester only, since the semester will get over in 6 months, EMI has to be finished within the 1st semester. (other schemes can be discussed on demand, however they will not have 30-day cancellation window)
In this scheme, there are no pre-closure charges, students can finish the EMI whenever they want, by paying the balance EMI’s.
The finance agency will contact the student and college directly to do recovery of their dues.
Yes, it is possible, however the 30 day cancellation will only be based on 1st EMI deposited and not on the full amount.
The EMI date will be the date on which the loan is approved. Students will have to pay the EMI on same date every month (+/-5 day flexibility available)
This will be decided basis approval date of the loan, assumed to be (+5 days maximum)
Yes the student can take the 30-day No Questions Asked cancellation by paying the 1st semester fee directly to CollegeDekho only.
Collegedekho will prefer to extend this offer to students opting for CAF applications, however it will be applicable in both cases.
After submission of all documents the loan approval will take 5-6 hours.
PAN card is only required for co-borrower not for the student. PAN card is a mandatory document. The student can appoint anyone as a co-borrower, as long as she/he is a blood relative. PAN Card and Bank Statements of the same person will be required in this case.
Payment will be made electronically (ECS). When the loan is approved, the student will get a login, sign all documents and make the first payment from a secure interface provided to the student by Collegedekho.
Yes
Students can surf through 400+ colleges pan India to avail this loan facility. The list of colleges under this facility cover all streams and degrees and are available for both UG & PG students. Students can go to the CAF platform on Collegedekho to view the list of colleges to apply.
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