Bangalore, India -- Brainybatch, an online education discovery portal launched India’s first “Online No Cost EduEMI” options for students and parents. The solution is about making school and educational institution fees into short term, no cost EMI type of payment mechanisms, popular for consumer durables. Prospective borrowers apply online on the company’s portal at brainybatch.com and are evaluated by lenders for loan disbursal. Besides innovative schemes in the form of edu-loan as No Cost EMI to parents the company also offers Loans to educational institutes to strengthen their infrastructures aimed at boosting the Indian education market.
Brainybatch.com was built as an online ‘discovery’ platform for students and parents to find educational institutions at all the levels, from pre-school to in career training. Visitors to the site can search by interest, location preference and multiple other criteria. The team behind the company aims to help students find the right institute for their education in a hassle free, internet searchable manner. It build a further level of value by providing a platform for aggregating lenders addressing education loans and borrowers seeking a mechanism to lessen the burden of ever increasing fees.
Rohit Dhar, the founder at the company, has a vision of increasing the literacy rate at India by 3% within 2026 by working to make education affordable by bringing a data & technology-driven transactional platform. The plan, he says is to make education accessible to the masses. The objective is to help parents and students, by providing them the scope to be more focused on selecting the relevant education rather than worrying about affordability.
The company believes that making education affordable is best done, adapting a model of the extended payment cycle - or the no cost EMI. “This is a model which has been successfully implemented to increase adoption of consumer durables from Apple iPhones to washing machines” says Rohit - who was Director, Products at Flipkart before his entrepreneurial journey. With loan duration ranging from 3 to 9 months and with limits up to 10 lacs the proposal is for a No Cost EMI without collateral. The innovative solution is expected to be a huge benefit for students and parent in their quest for affordable, quality education.