Skill Loan

An education loan is needed to provide that much needed financial support to enable any deserving student in pursuing any sort of Educational or Vocational courses to enhance his/her career prospects

SmartBrains provides such loans to the deserving and needy candidates at ZERO PERCENT interest so that they can easily pursue their dream career without any interest burden with the help of our affiliates.

Any Indian national between the age of 18-45, wishing to pursue any vocational degree or skill development course at any Institute either recognized or partnered with SmartBrians is eligible to apply for a loan from SmartBrains Affiliate networks. A Co-Applicant is mandatory if the applicant is not working or has no prior work experience

At present, loans will be only provided for admission to any Training Institute recognized by or in partnership with SmartBrains, providing courses in the fields of Finance, Nursing, Analytics, Healthcare, Retail Banking, Investment Banking, Exam preparatory courses and other such vocational or technical training courses

An Education loan from SmartBrains will covers up to a 100% of only the Course fee depending upon the strength of the applicant’s profile and creditworthiness of the principal borrower.

SmartBrains will convey its decision immediately for applicants choosing to apply at any recognized or partnered Institute. If the candidate chooses to apply directly through our affiliate's website then we will get back to him/her within 24 hours from the time of receipt of the application, provided the application is complete in all respects.

The loan will be disbursed in full or in suitable installments on the day that the application is complete in earnest or on the day of the Commencement of the Course (Whichever is earlier) taking into account the requirement of funds and/or fee schedule as assessed by SmartBrains, directly to the Institute of the applicant’s choice upon completion of all the necessary formalities. The loan maybe disbursed on the day the application is complete or on the day of the Commencement of the Course (whichever is earlier)

SmartBrains may or may not insist on a collateral or security in specific cases depending upon the quantum of loan amount, the strength of the applicant’s profile and the credit worthiness of the principal borrower.

The Repayment Schedule will commence immediately from the date of disbursal or Commencement of the Course (Whichever is earlier) at the Institute with the candidate paying the first installment on that date itself.

Initially, as a gesture of goodwill SmartBrains will not charge any no sort of additional fees or charges of any nature. However, this policy might be relooked at in the future.

The maximum tenure of a loan that can be availed from SmartBrains Affiliates is 12* months. However, SmartBrains reserves the right to define the maximum tenure in every case as per credit-worthiness of the borrower.

The parent(s) or guardian of the applicant would be treated as a Co-Applicant of this Education Loan if the applicant is not working. His or her role would be, necessarily, like the Primary Debtor.

SmartBrains reserves the right to reject any application without assigning reasons thereof. It shall be the sole right of SmartBrains to consider the proposal on a case-to-case basis after taking into consideration, the credentials/credit worthiness of each of the applicants.

Education loans are classified as priority sector today by the Indian Government and are to be encouraged. These loans are to be treated as investment for future economic development and prosperity. Most of the developed and developing countries have student loan schemes to benefit deserving students for the progress of the Individual, Society and thereby the Nation as a whole. In India only 1% students receive education loans. Today, most of the students are denied an education loan. We firmly believe that the right support provided to the right individual at the right time ensures success. No deserving student should be stopped from pursuing their dreams due to a lack of money! To enable this Vision of Growth and Progress SmartBrains gives deserving applicants access to such loans so that they can fly towards their dreams without any interest burden on their wings.

Under section 80(e) of the Indian IT Act, a person may be exempt the amount paid against the interest of the education loan with no upper limit on the amount or the interest rates. However, this deduction is only available on the Interest paid for any such loan and since SmartBrains are ZERO interest loans, you are not eligible for tax deductions.

If the borrower is working Documents Borrower Co- Borrower KYC Documents Photo Id Yes Yes Address proof Yes Yes Signature proof Yes Yes Financial Documnets Salary slip (Last 3 months) Yes No Bank Statement (Last 6 months) Yes No Educational Document Last completed degree Marksheet Yes No Last Degree certificate Yes No Any scholarship document or any entrance exam marksheet Yes No