Study Loan
Student Advantage
Upto 100 % Finance ( Fees& Other Expense )
Fast Application Processing
Education stands between poverty and prosperity. Education transforms lives! Education opens doors of opportunities!

EGTS offers education loans to:
Indian and Foreign students going to the USA, UK, EUROPE, CANADA, AUSTRALIA  or already in the FOREIGN COUNTRY.
Indian students attending colleges in India

Money paid for education is the best investment anyone can ever make. Availability of the education loan, at the appropriate time, can make your dreams come true! EGTS aspires to help deserving bright Indian students achieve their dreams of higher education.

Benefits to Students :
Students can apply for loan at the time of applying to Foreign Universities & College demonstrating funds availability, facilitating admission to the desired University

Counselors bring Education Loan options for the students at their location
Counselors help avoid delays involved in multiple visits to bank branches.
Students know ahead of time about funding status to decide on appropriate US courses, etc.

Optional Services that can be brought in by EGTS at the doorsteps of the education counselors :
International Student ID cards
Helping students save on Foreign Exchange transactions
Help to locate appropriate health insurance for the Foreign Country

Services Offered by EGTS to Strategic Partner Counselors :
Access to EGTS network of the Foreign Universities & College keen on partnerships in India to recruit Indian students
Access to EGTS robust and one of the most comprehensive databases of the Foreign Universities & College
Access to other proprietary  information including university comparisons to identify  best suited courses, potential starting salaries after graduation, etc
Access to EGTS US support services like identifying H1 B lawyers for students
Access to EGTS network of short-term/temporary housing when students land in the Foreign Universities & College
Access to EGTS network of airport pick up services from Foreign airports
Competitive advantage for consultants over other such organizations

Study In India Loan
*** EGTS understands students and their needs!

1. Flexibility in terms of the loans which need to be customized to the requirements of the students and their respective courses
2. Ability to find the required margin money (portion of the fees that is to be paid by students/parents which is not covered by the loan)
3. Required loan amount is more than the value of the collateral security
4. Ability to prove that the University, College and the applied Course is appropriate. (This can be quite challenging if the decision maker is not aware of the thousands of valid and accredited educational choices available in today's fast changing world of education)
5. Ability to get the loan approval letter in time to meet the admission related deadlines
6. Ability to get appropriate customer service during the repayment cycle
7. Ability to get web-based access to the loan account with web enabled transaction processing inclusive of electronic payments, etc.

EGTS is a specialized lender for education loans.
EGTS has invested time and resources to set up appropriate systems, processes and know-how related to the education industry.
EGTS has numerous databases on education sector.
EGTS credit scoring model for the approvals of loans is designed specifically for education loans.
EGTS, therefore, understands problems, challenges and issues faced by the students and their parents.
EGTS objective is to work closely with students and parents to try to identify the appropriate education loan programs for them.

Study in Foreign Country Loan
*** EGTS understands students and their needs!

Students face many challenges while securing education loans. Some of the issues faced by students include:


1. For students going to the USA, UK, Canada, Australia, etc. there are number of activities and formalities which take away the time. Running around from one branch to the other and doing multiple rounds for education loans get very difficult
2. Visa interview deadlines keep approaching fast and the education loan approval letter is required well in time to set up the visa interview. Hence, there is a tremendous time pressure to get education loan in time
3. Flexibility in terms of loans which need to be customized to the requirements of the students and their respective courses
4. Ability to find the required margin money (portion of the fees that is to be paid by students/parents which is not covered by the loan)
5. Required loan amount is more than the value of the collateral security
6. Ability to prove that the University, College and the applied Course is appropriate. (This can be quite challenging if the decision maker is not aware of the thousands of valid and accredited educational choices available in today's fast changing world of education)
7. Ability to repay the loan from the Foreign University & College
8. Ability to have customer service from the Foreign University & College with a toll free number
9. Ability to get web-based access to the loan account with web enabled transaction processing inclusive of electronic payments, etc.

EGTS is a specialized lender for Education Loans.
EGTS
has invested time and resources to set up appropriate systems, processes and know-how related to the education industry.
EGTS has numerous databases on education sector.
EGTS credit scoring model for the approvals of loans is designed specifically for education loans.
EGTS, therefore, understands problems, challenges and issues faced by the students and their parents.
EGTS objective is to work closely with students and parents to try to identify the appropriate education loan programs for them.

Student Loan Product :
This is an Indian Rupee denominated student loan for following students:
Indian students going overseas for Study and
Indian students attending colleges in India
The loan will be disbursed in India in Rupees which can be converted in foreign currency, if needed, by the student.
Repayments of the loan to be made by the borrower in Indian Rupees only.

Eligibility :
Borrower must be an Indian citizen
Co-borrower must be an Indian citizen
Borrower must be 18 years of age or older
Co-borrower must have a bank account in any bank in India with check writing facilities
Confirmed admission in the colleges before disbursement
Borrower and Co-borrower to meet EGTS underwriting criteria

Co-Borrower Requirement :
The loan will be co-signed by a co-borrower in India
A co-borrower is mandatory for all the student loans
The co-borrower can be parent, brother, sister, guardian, or any other relative
Co-borrower's role would be, necessarily, like the primary debtor

What Costs Are Covered ?
All of the tuition fees as determined by the college/University
Up to 75% of other expenses including living expenses, books, etc. as determined by the college/University
Up to INR 50,000 for travel to abroad from India, if applicable

Loan Amount
Minimum Loan Amount

Indian Rupees 1,00,000

Lifetime Maximum Loan Amount
Indian Rupees 20,00,000

Rate of Interest :
Rate of interest will be floating rate of interest linked to EGTS Benchmark Lending Rate (CBLR)
The floating interest rate will calculated monthly based on the prevailing CBLR at the beginning of the month
The interest will be calculated using Simple Interest Rate
Floating rate of interest to be EGTS CBLR + 1.00% per annum

Loan Disbursement
The loan amount will be disbursed in Indian Rupees
EGTS servicer will disburse the tuition fee directly to the educational institute
The tuition fee will be disbursed in installment as per the requirement of the specific educational institute
The loan amount related to other expenses will be disbursed in installments spread over the duration of the study

Loan Re-payment Terms
Loan Interest Re-payment
Loan interest re-payment will start immediately after disbursement of the first installment of the loan
Loan Principal Amount Re-payments must commence
After 6 months of completion of studies by the borrower or
3 month after borrower getting an employment or starting a business or
3 month after borrower discontinuing the educational program, whichever is earlier.
The principal and interest is repayable in 90 monthly installments
Monthly repayment amount will be deducted from the bank account of the borrower/co-borrower using Electronic Clearing System (ECS)
Post Dated Checks (PDC) to be collected as security cheques from the borrower/co-borrowers

Collateral :
The following types of collateral are accepted
Non-Agricultural Land
House
Apartment/Flat
A life insurance policy for the student, assigned in favor of EGTS, for the value of at least the amount of
loan approved

Ø Education Loan Product Details :
Loans up to 100% of the tuition fees plus living expenses
Collateral security value can be less than 100% of the loan amount
More than one co-borrower can be accepted
Customized loan products based on individual student needs
Competitive Rates Of Interest
Maximum loan amount of Rs. 20 Lakhs
Typical Tenure of the loan to be 2 Years In College + 5 Years Repayment = Total Tenor:  84 months
Repayment using ECS (Electronic Deduction)?
Loan interest re-payment to start immediately after disbursement of the first installment of the loan

Requirements :
Admission to Course at an accredited Foreign university or College.
Completed Education Loan application form with all supporting documents
Credit worthy co-borrower is required
The co-borrower can be parent, brother, sister, guardian, or any other relative
Collateral security is required. Multiple collaterals can be accepted. Following types are acceptable
Non-Farm Land
House/Apartment/Flat
A life insurance policy for the student/co-borrower, assigned in favor of Company.
Fixed Deposits, KisanVikasPatras, RBI Bonds, etc

How Will It Work ?  
Student can apply for student loan from EGTS. Before or After getting Admission Confirmation from University or College

EGTS will review the application and proceed with its underwriting/credit workflow. EGTS has a unique Underwriting model where not only the students and co-signers get credit rated, but the Universities also get credit scored based on the programs etc.
Approved students will be offered student loans and the Universities & College will be informed accordingly

To Get More Information, please send the email to easternguilds@gmail.com / easternguilds@hotmail.com


Student Loan Process :
Following is the student loan application process:
Student: Complete Student Loan Application Form
Student: Submit validated supporting documents
Student: Student interview with EGTS

EGTS : Verify student enrollment
EGTS : Check credit reporting agency report for borrower & cosigner
EGTS :  Check credit reporting agency report for borrower & cosigner
EGTS :  Perform risk analysis using EGTS “Predictive Credit Scoring Model”
EGTS :  Approve or deny loan
EGTS : Sign a Promissory Note
EGTS : Get signed post dated checks & other documents
EGTS : Disburse education loan

HOW TO APPLY :
Candidate Want to Apply For Education Loan Programme for this Candidate have to take Broucher& Application Form for this you are required to send a Non refundable Demand Draft of Rs 800/ (Eight Hundreed only) in favour of European Education for Further Studies, Payable at Kolkata. Mentioning your Name, Full Address, Mobile No & E-mail in the Back side of the D.D. Send it on mentioned Address

**** If you required any further information please feel free to contact us

 

 
 

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