VLCC Institute of Beauty & Nutrition, India’s largest chain of vocational education academy in beauty and nutrition industry, has announced its partnership with Capital Float, a leading non-banking finance companies (NBFC). The alliance will enable easy finance availability to students, existing as well as aspiring students. It aims to ease out the loan procedures and ensure fast, flexible short-term finances to the students of VLCC Institutes across the country. The loans will be available at zero processing fees and zero finance cost to the customers.
The students can apply for finance via a mobile application loaded on the VLCC Institute’s mobile phone and go through a simple paperless process of loan approval. The loan processing is collateral free and the students do not need to submit any physical documents like credit card statement, bank statement, income proof etc. This also aids in instant approval of loans at any location. The loans can be re-paid through easy monthly installments of 3, 6 or 9 months. The minimum finance amount for the EMI is Rs. 15,000 and maximum is up to 3 lacs.
Speaking on the development, Mr. Deepanshu Khurana, Business Head- Skill Development, VLCC said, “We are excited about our association with Capital Float. It is a great feeling to see positive response from NBFCs as they understand the importance of skill development and have decided to partner with us in our journey. We are confident that this association will provide a robust ecosystem to all VLCC Institute students and also enable to take another step towards their making their dreams a reality. We hope to train and provide employment opportunities to many more youths across the country and mentor them to be successful and independent individuals.”
The loan application process is easy. Post providing the primary personal details, the new loan applicant will be required to scan his/ her thumb impression on the bio metric scanner provided by the finance partners. Once these formalities are done, the loan approval can be processed in a few minutes. On approval, a loan agreement would get generated on the mobile application. The student will be charged an upfront payment of only 10% for the loan procedure to get activated.