EarlySalary & Avanse join hands to Launch India's First Digital School Fee Financing Solution - FeES
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EarlySalary & Avanse join hands to Launch India's First Digital School Fee Financing Solution - FeES

By SiliconIndia   |   Wednesday, 25 April 2018, 11:02 Hrs
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EarlySalary, a digital-lending Fintech startup, along with Avanse Financial Services, India’s rising education finance company, launched a digital, school fee financing solution called ‘FeES’, which is intended to provide the parents that extra relief in easing the fee payment process through instant credit facility and EMIs.

The app will considerably help the parents to tackle month-end and mid-month financial crisis. FeES will deliver the right support every parent need to enable the best education for their kids. EarlySalary provides small loans ranging in between 50,000 to 3,00, 000 along with an option of repayment in three and six months. ‘FeES’ can be used by downloading EarlySalary App from Google/iOS store. After providing the required basic information and bank details, the requested fee amount will be directly credited to school account without any extra help from others. Loaded with several unique handy features like zero down payments, instant school fee payments within minutes, with a processing fee of 999/- and the chance for parents to pay back with up to six months EMI and much more, FeES will soon find a home for itself in every parent’s smartphone.

Commenting on the occasion, Akshay Mehrota, Co-Founder & CEO, EarlySalary, says, “Finest education should be the most important prerogative for a parent. Hence, with a little assistance from our new offering ‘FeES’ we believe we can give the much needed helping hand to every parent. Customer’s convenience has always been the basis of any product development taking place at EarlySalary.” Founded by Akshay Mehrota and Ashish Goyal in 2015, EarlySalary is a salary advance mobile application which is introduced for Indian users to borrow money before they get their monthly wages. With a history of developing such apps, EarlySalary has earlier introduced a new ‘Shopping Chatbot’ with the aid of Niki.ai, an AI-powered company to help customers to carry out transactions like booking cabs, movie tickets and planning travel or paying bills using the credit & EMI option.

Headquartered in Mumbai, Avanse is a modern education finance company and an associate company of Dewan Housing Finance Ltd. (DHFL), a leading player in the housing finance sphere. It caters the Indian youth for a better future by boosting their aspirations through easy access to education finance. It is also the first Private Sector Education loan provider which provides offering benefits such as five percent tuition scholarship fees, competitive interest rates, loan tenure flexibility and much more. Speaking on the new deal, Amit Gainda, Avanse Financial Services Ltd., says, “Avanse is glad to partner with EarlySalary to launch ‘FeES’, a unique school fee management solution that makes it extremely convenient for parents to digitally secure instant education loans for school fees and repay through effective EMI options. This partnership is an outcome of Avanse’s strong belief in investing in innovative digital solutions to enhance education finance access. All school expenses including tuition fees, books & study materials, etc. is covered under this feature. Through the ‘FeES’ feature, we aim to reach out to millions of parents and students to fulfil school education dreams.”

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