Shri Mahavir Jaina Vidyalaya or SMJV provides interest-free education loans to meritorious students who belong to the Jain community and want to pursue higher education abroad or in India. As per the data available on their website, the loan demand is 10 times higher than the loan disbursed. If you belong to the Jain community and want an education loan to study abroad, you can apply for the SMJV interest-free abroad education loan. In this blog, we will discuss the features, eligibility and application process for SMJV Education Loans.
Table of contents
What is an SMJV Interest-Free Education Loan?
SMVJ Interest-Free Education Loan is provided to meritorious students belonging to the Jain community (4 Firkaas). Shri Mahavir Jaina Vidyalaya was established in 1915 and has been actively supporting needy Jain students. The education loan to study abroad is provided to the students in the form of a scholarship. This is so because the loan is provided with zero interest rate and that’s why it is called an educational loan scholarship. The organisation have supported over 2500 students to date.
- You can submit the education loan application online on the official website.
- The maximum loan amount depends upon the course and the country where you want to study.
- Before the approval of the education loan, an interview will be conducted and the loan will be given only if you qualify for the interview.
- The loan repayment shall be made within two years from the date of completion of the course.
Did you know Jain Jagruti Center provides education loans to study in the USA? Check out this blog on Jain Jagurti Education Loan
SMJV Education Loan Eligibility Criteria
The organization has laid down some eligibility criteria for taking SMJV Interest-Free Education Loan to study abroad. Check all the eligibility requirements properly so that your loan can be easily approved. Check the eligibility criteria below:
- The student shall be a Jain by birth in order to get a loan from Shree Mahavir Jaina Vidyalaya.
- You can apply for loans under higher education loan scholarships and foreign education loan scholarships.
- Any girl student who is Jain by birth and pursuing a Chartered Accountancy course.
- You must have secured admission to a recognized university abroad.
SMJV Education Loan Documents Required
While applying for SMJV Interest Free Education Loan you need to upload certain documents supporting your eligibility criteria and identity. Check the list of documents required for getting an interest-free education loan scholarship from Shree Mahavir Jaina Vidyalaya:
- Aadhaar Card or Voter ID Card for address proof
- Marksheets of the secondary and higher secondary exams (class 10th and 12th)
- University acceptance letter showing the admission and the program details
- Details of fee breakup i.e. exact amount for tuition fee and accommodation abroad
- Visa approval letter from the embassy or consulate.
- Income details of parents/co-applicant
How to Apply Online for an SMJV Education Loan?
SMJV Interest-Free Education Loan application form can be submitted online on the official website of Shree Mahavir Jaina Vidyalaya. The form contains all the information regarding the documents required, eligibility and interview details. Check the steps involved in applying online for an interest-free education loan.
- Visit the official website of SMJV and click on the ‘Education Loan’ option appearing on the home page.
- Click on the Loan Application Form and proceed with sign up and log in.
- Enter all the details in the application form carefully and submit the form.
- Upload all the documents mentioned in the application form.
- During the application process, an interview will be conducted by calling the student in the office or on the phone.
- After submitting the form, wait for the document scrutiny.
- Once the loan is approved, the office will contact the student and then the second stage documents will be required.
- At the time of loan disbursement, the cheque will be sent in the name of the university or the student.
Looking for an easy and quick education loan to study abroad? Check out this blog on YONO SBI Education Loan
FAQs
Any student who is Jain by birth and wants to pursue higher education abroad or in India can get interest interest-free education loan from SMJV.
You can contact the SMJV office by calling them on 022 – 26250 376 / 26250 381 / 26250 672. You can also contact them through mail-: [email protected]
The maximum amount of loan depends on the program/course, university and the country. Contact the office for all such queries.
This was all about SMJV’s interest-free education loans to study abroad. Please note that the entire loan shall be repaid within two years after completion of the course.
To know more about the interest-free education loan, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
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