The pandemic has brought about a rapid change in the adoption of digitization across the nation. It has led to the rise of youths now focusing on the digital process of financing, thereby revolutionizing the way students opt at education finances. These new-age digital lending platforms help to bridge the gap for low-income people and provide a simple and intuitive on boarding procedure and faster loan disbursals. To address the issues for all potential clients qualified for educational financing, here are the top 5 lending firms that are giving easy and accessible loans that can be used for your educational needs.
Avanse Financial Services
Avanse Financial Services Limited is a new age, education-focused NBFC on a mission to provide seamless and affordable education financing for every deserving Indian student. Established in 2013, Avanse is on a journey to strengthen its leadership position in Education Lending by creating solutions for individuals (Education Loans) and Indian institutions (Education Institution Financing). They have solutions for every segment of the Indian education sector covering school education to post graduation while also contributing to build the education infrastructure in the country.
HDFC Credila, an HDFC Ltd. Company, is India’s First Dedicated Education Loan Company. HDFC Credila Financial Services Limited (Formerly known as HDFC Credila Financial Services Private Limited) pioneered the concept of specialist Education Loan lender and became India’s First Dedicated Education Loan Company.HDFC Credila’s brand purpose is to contribute towards Transforming Lives and Building the Nation! With specialized focus, in-depth understanding of the requirements of students who wish to pursue higher education, HDFC Credila offers Customized Education Loans Home Delivered! With growing costs of education, the expenditure on children’s education is one of the highest components of expenditure by an average Indian household.
InCred is a new-age financial services group founded with the vision of providing credit to Incredible India and thus, furthering financial inclusion in the country. The company endeavors to disrupt the status quo in traditional lending that seems to exclude those most in need of credit, due to outdated, rigid, and often inefficient processes. The company has designed its products with a razor-sharp focus on serving the unique needs of these under-served segments of customers and leverages technology and data-science to make lending quick, simple, and hassle-free. It aspires to be the key partner for all financial requirements of an Indian family. Founded in the year 2016 by Bhupinder Singh, former head of Investment Banking Deutsche Bank Asia-Pacific, the company launched market operations in January 2017.InCred offers a broad portfolio of products that cut across key categories such as Personal Loans, SME Loans & Education Loans. They have a special segment dealing with education loans and dealing with students’ futures and finances with easy digitized education loans.
MoneyTap is an Indian company that has pioneered the concept of an app-based credit line to provide people access to instant, affordable, and flexible credit of up to INR 5 Lakh. With an aim to democratize credit, it caters to diverse customer segments in multiple cities, thereby revolutionizing credit lending in the Asian FinTech space. With this financing you can use it any form.The company follows strict lending processes, including the collection of KYC details before giving access to credit. With a recent addition of issuance of NBFC license from the RBI to Tapstart (Group Company), and working in association with only established RBI-Regulated partner banks and NBFCs, MoneyTap continues to stay committed to creating and offering the best-in-class lending products for customers and stakeholders.
Founded by technocrats and career bankers having a collective experience of over 75 years in secured & unsecured retail lending, VIVIFI provides credit to customers across the credit spectrum. The dream is to offer a variety of convenient easily-accessible financial and loan services in a safe efficient and professional environment to all desiring customers without any prejudices or biases and only based on the customer’s ability to repay.
The company operates a personal line of credit under the brand FlexSalary and proposes to offer personal loans under the brand LoanGranted.