Frequently Asked Questions

• 1. What all documents are required for the approval of loan via EmpowerYouth?
  The following documents will be required to submit for loan approval.
  - AADHAR CARD
  - PAN CARD (mandatory in certain Banks/NBFC's)
  - PHOTO
  - PASSPORT
  - 10TH to Last Qualification
  - COLLEGE ADMISSION LETTER
  - ENTRANCE EXAM SCORE CARD (if any)
  - IELTS SCORE CARD
  - OFFER LETTER (mandatory in certain Banks/NBFC's)
  - MOBILE NUMBER
  - EMAIL ID
  
• 2. Is the loan available for abroad studies too?
  Yes. The loan is available for both India and abroad.
• 3. When do we have to start to repay the loan?
  Direct EMI starts next month from the date of sanctioning of loan
  or Moratorium period (simple interest is charged on the amount disbursed)
• 4. What all expenses will be covered in the loan?
  The following expenses will be covered depending upon the terms of Banks/NBFC:-
  Fee payable at college/ school/ hostel
  Examination/ library/ laboratory fee
  Travel expenses/ passage money for studies overseas
  Insurance premium for student borrower
  Caution deposit, building fund/ refundable deposit supported by institution bills/ receipts
  Purchase of books/ equipment/ uniforms/ instruments
  Purchase of computer at reasonable cost if required for completion of the course
  Any other expense required to complete the course like study tour, project work, thesis.
• 5. Is there any collateral required to secure the loan?
  The collateral for security will depend from case to case. We will study your case and inform accordingly.