CollegeDekho starts offering loans for higher education at zero per cent interest

CollegeDekho – a company that helps students connect with colleges and universities across India and abroad – has started offering education loans to eligible students at zero percent interest rate, a press communique from the company stated.

This venture into Ed-FinTech makes CollegeDekho India’s first and only EdTech company offering end-to-end financial solutions at zero per cent interest for students studying either within India or abroad, the communique added.

The web-based loan marketplace covers the entire loan sanction process and helps students get instant approval and disbursal within a day without the hassle of visiting the office in person, the company has said in a statement.

Ruchir Arora, co-founder and CEO of CollegeDekho, said that the company’s aim is to make the loan process as easy as possible for all the students aspiring to pursue higher education. The highlight of this vertical is the zero per cent interest facility for students applying for studies. This makes CollegeDekho a frontrunner in Ed-FinTech, added Arora.

According to the company, CollegeDekho’s partner colleges have with them the zero per cent interest financial offering. It aims to ease the financial burden of the students as they have to pay only the principal amount in fixed installments.

CollegeDekho worked closely with colleges and students to make the Ed-FinTech solution inclusive and easy to apply for. Currently, it covers almost 1,000 partner colleges and is aiming to grow its connections with at least 2,500 colleges by the next academic year, covering over 80 per cent of the reputed colleges in India.

Consultants from the company will also be helping students and parents during the loan application process, especially in scenarios where applicants do not have all the necessary documents available with them.

This facility covers colleges across India which ensures that even the smallest town or city in the country can avail the benefits of the scheme.

CollegeDekho has partnered with multiple financial partners to increase approval rates. Salaried professionals, businessmen, farmers and even gold loan aspirants are eligible for this facility.

“Our motive is to create a platform which connects students, colleges, banks and NBFCs (Non-Banking Finance Companies) to create a seamless borrowing experience. We are using the power of data to help lenders improve risk assessment and hence improve end pricing,” said Tenzin Thargay, SVP & head of the Fintech vertical of the company.

Since its establishment in 2015, CollegeDekho has counselled more than 2 million students and has helped almost 1,000 colleges with their student recruitments.

For further information visit their official website: http://www.collegedekho.com/