Education Loan
For those seeking to further their education, our Education Loan is the perfect choice. With a competitive interest rate and flexible repayment terms, you can be sure that your future is secure. Our loan team is committed to helping you find the best solution for your individual needs. From tuition fees to study materials, our Education Loan will cover all of your educational expenses so you can focus on achieving your goals. At Moneymela, we understand how important it is to invest in yourself and are committed to helping you do just that. Let us help make your educational dreams a reality today!
Why Choose Our Education Loan
No collateral burden
Access education funding without pledging valuable assets.
Flexible Loan tenure
Repay your loan comfortably with flexible tenure options.
Simplified loan process
Enjoy a fast, paper-light application and approval process.
Competitive interest Rates
Make education more affordable with attractive interest rates.
Easy prepayments
Prepay your loan conveniently and reduce your overall interest cost.
Eligibility
Qualifying Criteria of borrower:
Travel Loan
Registration:
To become a borrower on Moneymela, individuals need to sign up through the Moneymela website and pay a one-time nominal fee of Rs 500. Once registered, borrowers receive a unique user ID and password for accessing the borrower portal.
Log in and Document Verification:
Borrower can log into the borrower portal, raise a loan application and upload the required documents, which are then verified by the Moneymela team to ensure their credit worthiness and repayment capability.
Final Loan Offer:
Moneymela’s team will sanction a loan offer to the borrower if they pass the eligibility assessment, based on the kind of loan and amount specified by the borrower in the loan application.
Loan Listing:
The finalized loan will then be listed on our marketplace for to the lenders to invest in.
Loan Agreement Signing:
Once a lender selects and finalizes a loan listing, Moneymela initiates the legal documentation process for the loan agreement between the lender(s) and borrower. Once the loan agreement is duly signed by both the parties, the loan fund will be transferred to the borrower’s account.
Tracking Loan Listings:
Borrowers can track their loan listings on their dashboard, keeping them informed about loan repayments, and due dates.
Documents
Documents required borrowers to be uploaded while registering as a borrower:
| # | Identity Proof | Accepted Documents |
|---|---|---|
| 1 | Identity Proof/Date of Birth Proof (any one of the following) | PAN Card , Adhaar Card Voter ID , Passport |
| 2 | Address Proof (Present/Permanent) (any one of the following) | Adhaar Card , Passport , Bank Statement, Voter ID Electricity Bill (within last 3 months) Post-paid Mobile Bill (Last Month) |
| 3 | Photograph | Passport size photograph (1 Copy) |
| 4 | Bank Details | Scan copy of Cheque or Copy of the front page of pass book for details of Account No and IFSC Code. Bank statement or pass book copy of Salary/operating account for last 6 Month. |
| 5 | Proof of Income | Salaried – Salary Slip for Last 3 months. Self Employed – ITR for last 2 Years. Any other document confirming income of the business of the borrower. |
