![]() You have chosen the option to make full EMI payments right from month 1 which means even during the Moratorium period (Course period plus 6 months), you will be paying EMI. This is because, the WMS team is associated directly with the Head office of these lenders.įurther important details you must consider for the full EMI payment option during Moratorium ![]() While, the WMS team will negotiate with the lender to find other ways of getting your education loan sanctioned, which otherwise is not possible when you interact with them directly. Best customer service with end-to-end coordination: If you go directly to the Private banks/NBFCs, you get education loan rejections without any proper explanation.of India funded organization, to get more fair policies of your loan, example, the tenure, the amount of payment during study period, the loan amount, the interest rate, all of these are negotiated. But with WeMakeScholars, you will have additional support of a Govt. ![]() Negotiations on policies: Applying directly to the NBFCs or Private Banks, will leave you with only one option that is you directly asking for some concession.0.5% to 2% concession in Interest rate: If you apply for your study abroad education loan via WeMakeScholars, your interest rate will be atleast 0.5% lesser than going directly to NBFCs/ private banks.of India and it can offer you the following advantages when applying for an education loan with Private Banks and NBFCs: WeMakeScholars is funded and supported by the Govt. So, for the “Full Interest” and “Partial interest” option, we have used compound interest in the calculations. The leftover interest portion is compounded monthly as per the terms of these banks and NBFCs. Hence, you have to opt for either Full monthly interest or partial interest option. Banks, these lenders do not give the option of “No” payment during the moratorium. These are most common options offered by ICICI bank, Axis Bank and other private sector banks and also by NBFCs like Credila, Avanse, Incred, Auxilo and other NBFCs. You have chosen the option of full or partial interest payment during the Moratorium period. Via WeMakeScholars, it can be done faster/on time.įurther important details you must consider for the Full or partial Interest payment option during Moratorium Multicity cases can be tackled easily: Which means if your permanent resident of a city A and if the property belongs to city B, such study abroad education loan cases are not done/takes a lot of time if applied directly to the bank.Cashback offered: You will be rewarded with a cashback on multiple disbursements to a maximum of INR 3000, as you are supporting the Digital India campaign by applying for your study abroad education loan via WeMakeScholars.Best customer service/support: You can avail complete customer support from the WeMakeScholars team for any of the doubts you have, anytime.So they have the solution to almost any problem in an education loan that comes up in a case because of the vast experience related to resolving issues and speaking with various people at various hierarchies in the bank. Knowledgeable due to huge volumes: The number of loans WeMakeScholars sanction in a month, a particular branch of the bank would not have done that even in last 10 years because they deal with applications across the country.of India has funded WeMakeScholars is to handle public banks applications and reduce their average processing time from 2 months to 15 days. Lesser processing time: And public banks are known for their delayed processing.Convenient Process: Get the documents checklist and all the product information without visiting the branch.of India and it can offer you the following advantages when applying for an education loan with Govt. banks are the best option for the education loan. With this provision of simple interest and the least rate of interest. Banks charge you simple interest for the moratorium period, hence that is considered for the calculations. This option is only offered by the Public sector banks like SBI, Bank of Baroda, Punjab National Bank, etc. You have chosen the option of “No payments” during the Moratorium period. Further important details you must consider for the “No” payment option during Moratorium
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