Introduction

Today’s blog is essential for all teachers and digital creators. Here, we will discuss how you can purchase a digital smart board on EMI. A complete studio setup is a costly affair, and not everyone can afford to pay for it upfront. To address this issue, Edusquadz offers a solution that enables you to take the complete studio setup, including a mic, camera, digital board, etc., on EMI. In this blog, we will outline the simple steps required to secure a loan from a bank.

Required Documents for Availing Digital Smart Board EMI

• Registration Certificate for Coaching Classes: If your institute is not registered, watch this video - YouTube Link to register it as soon as possible.
• Aadhar Card and PAN Card.
• Coaching Registration Certificate: It must be issued in the founder's name.
• Quotation of Complete Studio Setup: This includes prices of all gadgets you wish to purchase. Edusquadz can assist in preparing this quotation.
• CIBIL Score Check: The bank will verify the credit score of the loan applicant.
• Income Tax Returns (ITR) for the Last 3 Years: For startups, applying through Mudra Yojana is advisable as it offers loans with low-interest rates and does not require ITR.

Eligibility for Taking a Loan

• Avoid Taking a Loan Without Income: If you have no steady monthly income, avoid taking a loan.
• Loan Repayment Estimation:
  1. For a loan of Rs. 1 lakh, EMI would be approximately Rs. 2,500 to Rs. 2,700 per month for 5 years.
  2. For a loan of Rs. 2 lakhs or 3 lakhs, monthly EMIs would be around Rs. 4,800 to Rs. 7,200, respectively.
• Ensure Sufficient Monthly Earnings: Only take a loan if you can comfortably manage the monthly repayments.

Loan Processing Time for Digital Smart Board

The loan processing is straightforward. Once you submit the required documents to the bank, you can expect to receive the loan within 8 to 10 working days. Ensure you know the digital board price to prepare an accurate quotation.

• Research Government Banks: Search for a government bank in your area such as Bank of India, SBI, or similar.
• Meet the Branch Manager: They will guide you through the required documents and procedures.
• Get a Quotation: Call +91 96693 79370 for assistance with preparing a quotation for your studio setup.

Key Considerations

• Loan Amount Coverage: For a loan of Rs. 3,20,000, banks usually cover 75% of the total amount. You must arrange the remaining 25%.
• Edusquadz Support:
  1. Helps with complete studio setup.
  2. Provides guidance on how to effectively use the equipment.
  3. Supports your growth and differentiation in the market.
• Loan Repayment: Taking a loan is an investment. With consistent effort, repaying the loan becomes manageable. Edusquadz also offers guidance on monetizing your setup.

Conclusion

If you are financially stable, investing in a studio setup can significantly boost your career. However, never let motivation waver. A smart board for teaching is a powerful tool that can enhance your growth. Remember, investing in a digital setup is unlikely to backfire. For more information, call +91 96693 79370 or watch this video for better understanding - YouTube Link.