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School Fee Funding

Being a parent, you would like to provide the best education facilities to your children. In today’s scenario, even getting admission in a playschool will cost you approximately 30,000 - 1 lakh a year. On the other hand, primary and secondary education in a private school can cost approximately Rs 75,000 and Rs 5 lakh a year respectively.

Paying such a hefty amount in a single transaction can create a financial crisis but at the same time, you would not want to compromise on your child’s education too. Now, with Fullerton India Personal Loan for School Fee Funding you can conveniently pay your child’s school fees over 24 months. Get instant money on the same day of the loan application to complete the study requirements of that of your children.

Features and Benefits

Easy Terms

Hassle-free

It comes with easy terms and quick processing

Date

Easy Payment

You can conveniently repay your personal loan within 12 to 60 months

Money Deposited

Direct Deposit

The money will be deposited in your bank account

Flexible Tenure

Flexible Tenure

The minimum and maximum loan tenure is 3 months and 24 months respectively

Attractive Interest Rate

Fullerton India offers this loan at a lowest Interest Rate of 11.99%

Get a loan for funding your child’s School Fees

in minutes!

Apply now

FAQs

What is the maximum loan amount I can avail?

You can avail up to `20 Lakhs if you are salaried and `30 Lakhs if you are a self- employed businessman. The actual loan amount eligibility will be calculated based on your income and other parameters that the Fullerton India Relationship Manager will explain.

What is the minimum and maximum Loan tenor I can avail?

You can repay your loan over a period of 12 months to 48 months.

How much would I need to repay each month?

At the time of booking of your loan, the EMI (Equated Monthly Installments) will be calculated based on the loan amount sanctioned, interest rate and the tenor.

What is an EMI?

EMI or 'Equated Monthly Installment' is the convenient monthly amount that you have to service to pay back the loan availed. The EMI consists of both the principal and interest components.

Can I foreclose or prepay my loan?

Yes, you can repay your loan at any time during the loan tenure.

Is there any advantage that I can get if I have already availed a Fullerton India loan earlier?

Yes, if you are an existing customer of Fullerton India, you will get additional benefits on the processing time as well as the interest rate. What's more, you will be eligible for a pre-qualified Top Up on your existing Principal Outstanding.

Why shouldn't I avail my sudden need for cash through a 'cash advance' on my credit card?

Your credit card can be an option, but withdrawing cash using a credit card can turn out to be very costly if you do not repay it quickly. Interest rates on credit card cash withdrawals can go as high as 40 per cent on an annual basis depending on the type of card you use and you also do not get the interest free period to pay back. In short, interest is charged from the moment you withdraw the cash. There is also an additional transaction charge that is levied on the withdrawal at the ATM. In comparison, a Personal Loan is cheaper and the repayment can be spread over a long period.

 

Calculators

 

Documentation

Calculators

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Dear Applicant, do keep the digital copy* of following documents handy to avail full benefits of your online loan for funding your child’s school fees application. You would be required to upload these documents later for completing your loan application. (* only .jpg, .jpeg, .pdf formats allowed)

Salaried

  • Application form with a recent photograph
  • Proof of Identity (Passport Copy/ Voter ID card/ Driving License/ PAN Card)
  • Address Proof (Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License)
  • Age proof (PAN Card, Passport, any other certificate from a statutory authority)
  • Bank Statements (Bank statement / Bank Passbook for last 6 months)
  • Profit and loss statement for last 3 years
  • Balance sheet for last 3 years
  • Income Tax Returns for last 3 years (for self and business) duly certified by a CA
  • Relevant collateral documents
  • Processing fee cheque
 

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