Jodo Education Loan: Eligibility, Interest Rate and Application Process

Are you exploring options to manage your education expenses? The Jodo Education Loan offers a solution with flexible repayment plans, competitive interest rates, and a straightforward application process. Designed to help ease financial concerns, this loan aims to support your education, whether you're studying in India or abroad. Let’s take a closer look at how Jodo’s offerings can assist in making education more accessible and manageable.

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Jodo Education Loan: Highlights

Jodo offers a hassle-free education loan with the following highlights:

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What is a Jodo Education Loan?

Jodo, a fintech startup established by IIT-IIM alumni, aims to transform education payment systems in India. As a financial services company, Jodo specialises in providing short-term education loans and payment plans tailored to meet student needs. These loans cover tuition, hostel, and mess fees, offering a seamless financial solution. 

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Key Features of Jodo Education Loans

Jodo education loans are designed to provide students and their families with a seamless and flexible financing experience. Below are the standout features of Jodo's education loans:

1. Digital Process

The application process is fully digital and quick, allowing for a hassle-free experience.

2. No Collateral Required 

Jodo loans are unsecured, meaning there’s no need for collateral or security.

3. Low Interest Rates 

Loans are offered competitively, making education more affordable.

4. Auto-Debit Feature 

Enables automatic fee payments, ensuring timely transactions without manual effort.

5. EMI Plans 

Provides flexible EMI options, allowing semester payments to be converted into manageable monthly instalments.

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Benefits of Jodo Education Loan

Jodo education loans offer multiple advantages, ensuring a smooth and convenient financing experience for students and their families:

1. Hassle-Free Documentation

Simplified paperwork makes the application process quick and easy.

2. Convenient Process

Enjoy doorstep service for added ease and accessibility.

3. Tax Benefits

Tax deductions under Section 80E are available for interest paid on education loans.  

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Jodo Education Loan: Eligibility Criteria

To apply for a Jodo education loan, applicants must meet the following eligibility requirements:

1. Indian Residency

Applicants must be residents of India.

2. Minimum Age Requirement

The applicant must be at least 18 years old.

3. Legal Capacity

The applicant should have the legal capacity to enter into a binding contract under the Indian Contract Act 1872 while using the platform or availing of services offered by Jodo.

4. Compliance with Laws

Applicants must not be barred or prohibited by Indian laws or any other applicable laws from using Jodo's services.

Want to know if you are eligible for an education loan and what the rates are? Find all the information you need to get started.

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Jodo Education Loan Documents Required

Applicants need to provide the following documents to complete the application process for a Jodo education loan:

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How do you Apply for a Jodo Education Loan?

Applying for a Jodo education loan is a simple and easy process. Follow these steps:

1. Online Application

Begin by filling out a short online application with your basic personal information to get pre-approval.

2. Fee Disbursal

Jodo will directly confirm the total fees (including tuition, transportation, and other applicable charges) with the school. Once confirmed, the fee will be disbursed with your consent.

3. Repayment Setup

An auto-debit feature is set up for repayments, ensuring timely payments without manual reminders.

Jodo’s support team is available 24/7 to assist you through the process and address any queries.

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Jodo Education Loan Interest Rate 

Jodo offers a Flexible Payment Plan with a 0% interest rate, making education financing affordable and stress-free. The online application process is designed for convenience, including an auto-debit feature for seamless fee payments.

With Jodo, students can opt for a monthly payment plan to pay their college fees in manageable instalments without incurring any interest.

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Jodo Education Loan: Finance Plan

Jodo offers affordable monthly payment plans with a seamless process, making it easier for students to manage their education fees. 

Here are the key features:

Here are the finance details for various courses:

GS (Pre & Mains) Integrated – Offline Course 

Total Course Fee- INR 175,500 

GS (Pre & Mains) Integrated – Online Course 

Total Course Fee - INR 95,500 

Optional (Mains) - Offline Course 

Total Course Fee - INR 55,500 

Optional (Mains) - Online Course 

Total Course Fee - INR 45,500 

Wondering how much your education loan will cost each month? Use our Education Loan EMI Calculator to estimate your monthly payments instantly. Enter the required details, and you'll quickly see your loan repayment schedule!

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Not Just Tution Fees, But Other Expenses Also Covered. Simplified Processing, Dedicated Support

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Jodo Education Loan: Long Term

Jodo, in partnership with leading banks such as IDFC First Bank, offers specialised long-term education loans tailored to meet the financial needs of students. The Jodo education loan is designed to cover the cost of education with a flexible repayment tenure of up to 12 years, giving students the freedom to manage their finances efficiently.

Here are some unique features of long-term Jodo education loan:

1. Expert Assistance

Dedicated loan experts to guide you through every step and help you make informed financial decisions.

2. Fully Digital Process

Enjoy a hassle-free loan experience without the need for multiple bank visits.

3. Tax Benefits

Interest paid on education loans is eligible for income tax exemption under Section 80E.

4. Unsecured Loans

No collateral is required, providing a stress-free borrowing experience.

5. Comprehensive Coverage

Covers tuition fees, hostel fees, transportation costs, and other education-related expenses.

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Here is the table detailing the loan parameters for Jodo Education Loans:

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Jodo Education Loan: Short-Term

Jodo offers quick, straightforward, short-term loans to help students manage their financial needs efficiently. Students can convert any semester payment into easy EMIs and enjoy a seamless repayment process.

Here are some unique features of short-term Jodo education loan:

1. Fully Digital Process 

Receive your customised EMI plan in just 30 minutes.

2. Covers Entire Semester Fee 

The loan can cover tuition, hostel, mess, and other related expenses.

3. No Collateral Required 

Jodo loans are unsecured, meaning no collateral is needed.

4. Low Interest Rates 

Enjoy affordable interest rates, making the repayment process more manageable.

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Explore the key details and features of the Jodo short-term education loan to help you plan your repayment effectively.

Jodo Education Loan provides students with a seamless and flexible way to finance their education. From easy-to-follow application steps to no-collateral loans, Jodo’s offerings are designed to ensure that financial constraints do not limit your academic aspirations.

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Why Propelld?

Choose propelld for hassle-free, collateral-free education loans with quick approval, flexible repayment plans, and a fully digital application process. We make financing your education simple and stress-free.

The following are the primary benefits of Propelld.

Take the next step in your academic journey - Apply for an education loan today!

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FAQs for Jodo Education Loan 

What is the Jodo fee payment?

Jodo offers a Flexible Payment Plan with 0% interest, providing a seamless online application process and auto-debit feature for fee payments. You can pay your college fees in monthly instalments.

Is Jodo profitable?

Jodo reported a total revenue of INR 43.9 Cr in FY 2022-2023 but incurred expenses of INR 43.9 Cr, resulting in a profit before tax of INR -35.9 Cr, with a profit after tax of INR -39.5 Cr.

How do you get a 0% interest education loan?

While 0% interest education loans are not available in India, a high credit score can help secure loans with lower interest rates.

What does Jodo company do?

Jodo is a fintech startup that offers tailored financial products for middle-income households in urban India.

Can I get a 2 lakh education loan?

The maximum education loan for studies within India is typically INR 10-15 lakh, while loans for studies abroad can range from INR 20 lakh to INR 30 lakh.

How do I disconnect my Jodo account?

To close your Jodo account, contact support@jodopay.com.

What documents are required for an education loan?

• Identity proof (e.g., PAN Card, Passport, Aadhaar)
• Residence proof (e.g., Electricity Bill, Passport)
• Latest passport-size photo
• Income proof for borrower/co-borrower/guarantor

Is NOC required for an education loan?

Yes, an NOC (No Objection Certificate) is required to ensure the loan account is closed once the loan is repaid.

What is the minimum salary for an education loan?

The minimum salary for an education loan is generally INR 30,000 per month, though some lenders may offer loans for lower-income applicants.

Which bank is best for an education loan?

Banks like Kotak Mahindra (16% interest), State Bank of India (8.05%-11.75%), and ICICI Bank (10.25% onwards) offer competitive education loan rates.

Which type of student loan is best?

Subsidised loans are ideal as the government pays the interest while you're in college, reducing financial stress.

What is the interest rate on Jodo education loans?

Jodo offers a flexible repayment plan with 0% interest, making it an attractive option for students looking for an affordable way to manage education costs.

Can I apply for a Jodo education loan without collateral?

Yes, Jodo education loans do not require collateral, making it easier for students to secure financial support without needing assets to back the loan.