Student/Parent EduEMI FAQ's
Find answers for your queries related to EduEMI.
- Father/Mother/Guardian of the Student who is earning
- Age limit min 21 yrs - max 60 yrs
- Have a valid PAN & Aadhar Card
- Yes, only in the case when the salary cheque gets deposited in the bank account
- You can provide the bank statement in which salary cheque has been deposited
Min Income document required for self-employed is 2 yrs ITR If you don't have ITR and have any of the below-mentioned documents you can apply
- Credit Card Statement
- Loan Repayment statement
- Previous year fees slip
We give loans upto Rs. 10 lakh. The sanctioned loan amount depends on your financial and credit history information
We operate across India
The steps involved are:
- Loan Application Review By Brainybatch
- Verification of applicants
- Sent To Lender
- Disbursed
Rates depend on your credit and financial profile. However, as per the EduEMI programs it also depends on your selected Education Institution. It may be No Cost or a standard or discounted cost may be charged.
Documents required are:
Pre-approval
PAN & Aadhar Card
Current Address Proof
6 months-Salary Slip or Credit Card/Loan Repayment statement or 2 yrs-ITR doc
6 months-Bank Account Statement
Post Approval
Institute Declaration letter
Fee slip from the institution for the fees paid through the loan amount
Documents required are:
Pre-approval
PAN & Aadhar Card
Current Address Proof
Credit Card/Loan Repayment statement or 2 yrs-ITR doc
6 months-Bank Account Statement
Post Approval
Institute Declaration letter
Fee slip from the institution for the fees paid through the loan amount
No, the Loan amount will be directly transferred to your (student's) Educational institution (Playschool/school/college/coaching center/vocational colleges) bank account directly.
After we verify the information from the submitted documents. Once approved, money is disbursed in 48 working hours.
You can click here to check the current status of your application.
No collaterals or gaurantor is required.
You need to receive at least one salary credit from the new company. Along with that, we would see past salary credits and new payslip.
Yes, after approval Parents/student need to sign ENACH/NACH (National Automated Clearing House) form, once that is approved, the EMI would be auto-debited from your bank account on the EMI due date.
We will send reminders before EMI date so that you don't miss out on payment. Late payments are taken seriously. If auto-debit or cheque is dishonoured due to insufficient funds, we will send a notice to settle the payment immediately. We will call, visit residence and if even after repeated reminders, the payment is not made, we will take further legal action on behalf of the lender. In cases of non- repayment of EMI for more than 2 months the student's Certification from his/her school/college will be made on HOLD till the time of repayment.
you may be liable for legal action towards recovery of loan defaults if any
We are an ISO 9001:2015 Certified Quality Management System. Your information is completely secure with us. We do not share sensitive information with even the lenders unless they require it for legal reason in case of non-payment of dues.
You can call us at 9606046946. More contact details can be found here.
Yes, you can earn upto Rs. 500 for every successful referral. Click Here to Find more details
