Jain Jagruti Education Loan

Jain Jagruti Centre launched the Initiative of Jain Jagruti Education Loan to help students pursue quality education in India or the USA. This loan is offered without any interest charges. Students can cover all their education expenses under this scheme.

The Loan amount and repayment duration for the Jain Jagruti education loan scheme depends on the interview with the student and his parents. The loan is offered to students wishing to pursue higher education in India or the USA. Here are the other details of the scheme.

Students wanting to apply for a Jain Jagruti education loan should meet the following eligibility criteria.

• The student applying for the loan should belong to the Jain community
• The student must have been admission into a university in India or the USA for higher education.

The approval of the loan application and the loan amount will depend on an interview with Jain Jagruti after you fill out the loan application.

Students going for a Jain Jagruti education loan will require the following documents.

• Application form:
  • An application form along with your photograph and signature.
• Documents of the applicant and Co-borrower or the guarantor
  • Proof of identity:
    • PAN card or Aadhar card
    • Passport if you are applying for abroad education
  • Residence proof:
    • Voter’s ID card
    • Passport
    • Ration card
    • Bank account statement
    • Electricity or telephone bill

You will have to arrange two residency proofs if your current and permanent addresses are different.

• Co- applicant’s documents(6 months bank account statement)
  • Provide salary credits if salaried
  • Show business transactions if self-employed
• Academic documents of the applicant
  • 10th, 12th, and degree mark sheet if looking for education in masters
  • Breakdown of the fees
  • Admit proof
  • Entrance exams scorecard
• Co- co-applicants income documents
  • Salaried
    • Last 3 month's pay slips
    • 2 years from 16
    • ID card of the employer
    • ITR of the last 2 years
  • Self-employed
    • Last 3 years ITR
    • A balance sheet with profit and loss account for the last 3 years
    • Address proof of the business
• Other documents
  • Declare in a letter that your co-applicant is responsible for any expenses that are not covered by the education loan (the format of the letter will be provided by the WeMakeScholars financial officer)
  • A notarized joint affidavit with the co-applicant in the format specified by the bank ( request your WeMakeScholars financial officer to provide the format of the letter)
• Additional documents(optional)
  • Advance payment receipts of payment made to the university, if any
  • Pending loan statements from the previous year.
  • Explain any gap that you have had in your studies on a 100 Rs stamp paper

Students who do not qualify for a Jain Jagruti Education loan, can look for other funding options like public or private banks or lenders. Below are a few attractive options for an education to study in India or abroad.

Karur Vysya Bank Education Loans

Students wanting to pursue higher education in India or abroad can go through Karur Vysya Bank. They offer up to 1.5 Cr education loans at a starting interest rate of 10.30%.

Union Bank of India Education Loan

Students can go to Union Bank of India for an education loan if they do not qualify for Jain Jagruti education as this is the second best option. UBI can offer up to 2 Cr education loan for studies in India or abroad.

ICICI Bank Education Loan

Students who are looking for an education loan to get sanctioned in the least amount of time can go through ICICI Bank. They can offer up to 2 Cr of education loans.

IDFC First Bank Education Loan 

Education loans from IDFC First Bank are offered at an attractive rate of interest, better than most other private banks or lenders and also offer unsecured education loans.

Here’s how you can apply to the above-mentioned lenders through WeMakeScholars.

Step 1: Request a callback or fill out a common application form from the WeMakeScholars website.

Step 2: A WeMakeScholars financial officer will call you back and ask you a few basic questions to check your eligibility.

Step 3: The financial officer will then give you a list of lenders from where you can get the best education loan deal and will connect you to those lenders.

Step 4: The education loan process will then be taken forward by your assigned lenders. Also, your financial will be in touch with you throughout the process, solving any kind of doubts that you have in the loan process. 

Step 5: You will receive a loan sanction in the time that was promised to you by your financial officer.

WeMakeScholars is an organization supported by the Ministry of IT, Govt. of India under the Digital India campaign. We are partnered with 14+ banks (Public/Pvt) and hence can provide the best education loan deals to the students.

• Lower rate of Interest: We are partnered with multiple lenders and hence can provide an education loan at up to 2% lower rate of interest than when you go directly through a bank.
• Negotiation support: We talk to the lenders about the interest rate on the education loan on behalf of the student and try to bring it down.
• Expert guidance: We deal with hundreds of profiles each day so we have expertise in dealing with different situations and getting you an education loan at any cost.
• Tax benefits: Many students do not have an idea about different sections like 80E under which they can avail of tax benefits. We make sure to educate them about all such benefits.
• Cashback: Students can claim a cashback of up to ₹3,000 when going through us for an education loan.