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EMI with 0% interest and 0 down payment
Highlights:
- 0% interest
- 0 down payment
- Quick online approval
- Pay in 3 easy Instalments
- Easy & Secure online process using Aadhar and PAN number
- Anyone with an Indian Bank Account can apply
- Pay fee in interest-free instalments of INR 17,315 p.m. for the 1st trimester (includes admission fees) and for subsequent trimesters pay INR 10,815 p.m.
- Once the loan is approved for the 1st trimester and if the student maintains good repayment history, separate approval process is not normally required for subsequent trimesters.
How to Apply for EMI Option:
- To apply for EMI option, applicants need to have:
- PAN Card, Address Proof (Aadhar/Passport/Driving Licence)
- Bank account in any Indian Bank
Note: Video KYC can be done online which require physical PAN. It is mandatory that the mobile number should be linked with Aadhar (any number can be used)
Please follow the steps below to apply of EMI option:
- On receipt of the Admission Offer Letter, you will be provided with 3 payment options: "Pay using FinTech EMI', OR 'Direct Payment option' OR ‘Credit Card based EMI (no documentation)”
- If you choose 'Pay using FinTech EMI option', the system will connect you to Avanse platform who has partnered with BITS Pilani to offer EMI facility to applicants at 0% interest without any down payment and quick approval process.
- On the Avanse portal, you will see a form to apply for the EMI option which will have part of your programme details prefilled.
- You will then be asked to login & complete basic information, KYC details and provide bank details.
- On approval, you need to complete the remaining steps of agreement, E-mandate, video verification and payment of the one-time processing fees (Rs. 149+GST)
EMI Payment Plan
- On approval of the EMI facility, applicants need to pay Rs. 149+GST towards one time processing fees of the loan.
- 3 EMIs will be payable on a monthly basis.
- The following payment schedule will apply to new admissions which includes the admission fees and 1st trimester fees (INR 51,945)
| Month 0 | Month 1 | Month 2 | Month 3 | |
|---|---|---|---|---|
| Processing Fee | INR 176 (incl. taxes) | - | - | - |
| Instalment | - | INR 17,315 | INR 17,315 | INR 17,315 |
| Total (incl. taxes) | INR 176 | INR 17,315 | INR 17,315 | INR 17,315 |
- For the subsequent trimesters, the EMI would only include trimester fees (INR 32,445). The following payment schedule will apply:
| Month 0 | Month 1 | Month 2 | Month 3 | |
|---|---|---|---|---|
| Processing Fee | INR 176 (incl. taxes) | - | - | - |
| Instalment | - | INR 10,815 | INR 10,815 | INR 10,815 |
| Total (incl. taxes) | INR 176 | INR 10,815 | INR 10,815 | INR 10,815 |
*For detailed programme fee structure, please refer to the brochure, or the programme page on the website.
Please Note
- All loans are subject to approval by Avanse