Propelld

"Instant No Collateral Loan for Education in India" — "Collateral free loans with upto 100% fee financing."

"100% digital loan application process" with "Instant loan sanctions within 48 hours, digitally."

"The (credit) bureau score is not an elimination for us. We give it lesser weightage, instead focusing more on the institute and the course."

"Propelld is aimed at providing credit options to students of vocational courses with a low credit score or a non-existent credit history."

Targets "tier II and III cities where students face difficulties in securing finances from accredited lenders."

Works with "more than 2,000 educational Institutes across edtech, K12, universities, schools and upskilling."

Underwrites loans in the expectation that students get a ₹5 lakh to ₹6 lakh per year job with loan amounts of ₹1 lakh to ₹3 lakh, rather than high-value loans for premium programs.

Borrowers track loan status, disbursement, and EMI payments through a self-service online dashboard rather than manual receipts or branch visits, including finding their EMI payment link there.

The website surfaces a persistent "Chat with us" option so borrowers and prospective students can get real-time assistance without going through email or a call center.

For account updates, KYC issues, and other loan queries, Propelld directs borrowers to a dedicated support email address rather than a phone-first support model.

"100% digital loan application process" — a 3-step process of filling details, KYC approval, and fund transfer, with instant loan sanctions within 48 hours.

Distribution through partnerships with "over 3,000 institutes" across edtech, K12, universities, schools and upskilling.

Propelld continuously tracks loan performance by partner institute and throttles new loan sanctioning at institutes where repayment is weak, rather than underwriting purely on a borrower's credit bureau score.

The company sends teams to visit institutes across the country and work with admissions departments to understand graduate employment outcomes before extending credit lines to their students.

As an NBFC, Propelld periodically raises debt from banks and financial institutions through its Edgro subsidiary to fund on-lending and expand its reach and product offerings.

Beyond standard collateral-free education loans, Propelld's NBFC arm structures Study Now Pay Later products and Income Sharing Agreements (ISA) to fit different borrower repayment capacities.

Propelld employs a "proprietary employability-based underwriting algorithm to assess the future employment prospects and creditworthiness of its customers," incorporating institute and course placement records.

Edgro is Propelld's "wholly-owned NBFC subsidiary," giving it the ability to lend directly rather than relying solely on partner NBFCs.

"Propelld has disbursed ₹4,434 crore to 401,095 students. It has partnered with over 3,000 institutes."

"In addition to Edgro, it has Avanse Financial Services, Aditya Birla Capital, and JM Financial as its digital lending partners."

"Edgro has raised the amount from nine lenders such as Credit Saison India Private Limited, AU Small Finance Bank, InCred Financial Services Limited and Northern Arc Capital Limited."

"Education loans are made at 15 percent while upskilling loans are at 19 percent." Cost of funds is about 12.5 percent, generating spreads of 2.5-6.5 percent.

"The company has a cost of funds at about 12.5 percent, but new debt is being taken on at closer to 11 percent."