1. What are the important documents the are required to be submitted by the applicant for loan approval?

The documents required are as mentioned:

• CFA Program Registration Invoice
• Passport size photo
• Aadhar Card
• PAN Card
• Any one of the following to match the Aadhar address:
  • Passport/
  • Voter id/
  • Driving License/
  • Utility Bills
  • Any other ownership proof
• Latest 6 Months Bank Statement showing salary/business income.
  • If salaried- latest salary slip/offer letter.
  • If self-employed: business ownership proof (GST License/Gumasta license/etc.)
• Eduvanz Team is always available to support you in case of any queries / questions

2. What are the important eligibility criteria to avail the student EMI

In addition to the details shared in point no. 4:

• Minimum Monthly Salary of Rs.20,000/- for salaried individuals
  or
  Minimum Average Bank Balance of Rs.20,000/- in the business bank statement for self-employed individuals.
• Credit Bureau Score of 650+ without any current defaults.
• Submit all the required documents at the time of applying with Eduvanz.

3. How many days will it take to process my loan application?

Once all the required fields are completed and documents submitted, Eduvanz will clear the loan application within 24 hours.

4. After loan application is approved, how many days does it take for Eduvanz to make the payment to CFA Institute?

Post all post approval formalities are completed, Eduvanz will complete the payment in maximum 5 working days.

5. When do I need to pay the first instalment of the payment?

The EMI repayment starts from the month after the disbursal. The 5th of each month is the EMI repayment date.

6. How and when should I start paying the loan?

The EMI repayment starts from the month after the disbursal. The 5th of each month is the EMI repayment date. The payment will be deducted automatically from the given bank account using the NACH services.

Please note: NACH is not registered, applicant will be informed in advance & manual payment needs to be done

7. I have cancelled my exam within 14 days of registration. And I had availed education loan for registration and paid the first instalment. Will I get the full amount back?

• You will be eligible to get your first EMI back (if paid).
• The processing, forex, and other non-refundable fees shall not be refunded. Note: The above points are subject to CFA Institute Refund Policy

8. What will be the interest applicable on the loan amount?

The applicable interest starts from 7.99% per annum and is fixed based on the financial applicant’s overall profile.

9. Are there any other charges or processing fee?

Yes, the charges are as mentioned:

• Forex Charges – 2% + Taxes
• Processing Fee – Upto 2% + Taxes

10. What will be the dollar rate considered for the tenure of the loan?

The dollar rate from the approval date will be fixed for the loan tenure.

11. Is there a prepayment or delayed payment penalty?

The applicable interest starts from 7.99% per annum and is fixed based on the financial applicant’s overall profile.

• Eduvanz Finance facility has a total pre-payment option, and it will attract 2%+ taxes pre-closure charges. Delayed payment in EMI will also attract the relevant late payment fee and penal charges.
• The complete schedule of charges will be available on the loan agreement.

12. Does education loan have any Income tax benefits?

Kindly connect with your tax consultant to evaluate all interest benefits available.