How to Purchase a Digital Smart Board through EMI
Today’s blog is very important for all teachers and digital creators. Here we will be talking about how you can buy the digital smart board on EMI. As we all know studio setup is a costly affair. Therefore, not all teachers or creators can afford to pay the price of a complete studio setup at once. To solve this problem, Edusquadz has come up with a solution. We will be telling you the way through which you can take the complete studio setup, including mic, camera, digital, etc., on EMI. So, for this, you can take a loan from a bank by using the simple steps we will discuss in this blog.
Digital Smart Board on EMI: Documents required for Loan
- Registration Certificate for coaching classes. If, your institute is not yet registered, then you can watch this video - https://youtu.be/2H00IJmNnjk?si=BhrtSYOV2riboirh, and get it registered as soon as possible.
- Aadhar card, PAN card.
- Coaching registration certification shall be issued only in the name of the founder.
- Quotation of complete studio setup that includes the prices of all the gadgets you wish to purchase. Edusquadz will help you prepare the quotation.
- The bank will check the CIBIL Score of the person taking a loan.
- ITR of last 3 years. You must try to take a loan through Mudra Yojana, this scheme is especially for startups. Here, banks do not ask for your ITR and you will get a loan at a low rate of interest.
Who should take a Loan?• If you have no monthly income, then you should never approach towards taking a loan. You must understand that even if you take a minimum loan of Rs. 1 lakh, then you will have to pay at least Rs 2,500 to 2,700 per month for 5 years. Therefore, if you take a loan of Rs. 2 lakhs or 3 lakhs, then you must have at least Rs. 4,800 and 7,200 respectively per month to repay the loan along with interest.
Number of days required to take for Digital Smart Board Loan? The process of taking a loan is easy, you just need to submit the necessary documents to the bank. You must know the digital board price to prepare a proper quotation. Once, you submit complete documents, you will get a loan in 8 to 10 working days.