Privacy Policy

Your Confidentiality, Our Priority

We are sensitive to user privacy on our website and mobile application (“Platform”) and also on the internet. It is important for us to protect your information and provide transparency regarding how the information collected on the Platform is used. Your privacy is of utmost importance to us, and we are committed to safeguarding any personally identifiable information, such as name, address, or telephone number (“Personal Information”), that you share with us. Appropriate measures are taken to ensure your privacy is protected when using our Platform.

Privacy Policy

Terms & Conditions

1. Eligibility Criteria
  • The applicant must be a citizen of the respective country where the loan is being availed.
  • The applicant must have secured admission to a recognized institution for higher education.
  • Co-applicant (parent/guardian/spouse) is required for availing the loan.
    • 2. Loan Coverage
  • The loan covers tuition fees, hostel charges, exam fees, books, and other related academic expenses.
  • Travel expenses (if applicable) for overseas education may also be covered.
    • 3. Loan Amount & Disbursement
  • The loan amount is sanctioned based on the course, institution, and applicant’s eligibility.
  • Disbursement is made directly to the institution in installments as per the fee schedule.
    • 4. Interest Rate & Repayment
  • The interest rate will be determined based on market conditions and applicant eligibility.
  • The repayment period starts after the moratorium period (course duration + additional grace period).
  • Repayment tenure can range from 5 to 15 years, depending on the loan amount and policy.
    • 5. Moratorium Period
  • The moratorium period includes the course duration plus an additional grace period after course completion.
  • No repayment is required during this period, except for interest (if applicable).
    • 6. Collateral & Security
  • Collateral security may be required for higher loan amounts as per lending guidelines.
  • Acceptable security includes fixed deposits, property, or other financial assets.
    • 7. Documentation Requirements
  • Admission letter from the recognized institution.
  • Fee structure from the institution.
  • KYC documents of applicant and co-applicant.
  • Income proof of co-applicant/guarantor.
  • Collateral documents (if applicable).
    • 8. Loan Processing Fees & Charges
  • Processing fees, administrative charges, and prepayment charges (if any) will be applicable.
  • Late payment penalties may be charged in case of delayed EMI payments.
    • 9. Prepayment & Foreclosure
  • Borrowers can prepay the loan without penalties, subject to the lender’s policy.
  • Foreclosure is allowed after a minimum lock-in period (if applicable).
    • 10. Default & Legal Implications
  • In case of non-payment or default, legal action may be taken as per banking and financial regulations.
  • The credit score of the borrower and co-applicant may be impacted in case of default.
    • 11. Amendments & Policy Changes
  • The lending institution reserves the right to modify the terms and conditions at any time.
  • Any changes will be communicated to the borrower as per regulatory guidelines.
    • By applying for the Vittiya Education Loan, the borrower agrees to comply with the terms and conditions outlined above.