FAQ – Easy Pay Option with Financepeer (FP)

  1. Who we are?

Financepeer (FP) is a for profit-impact solution company founded by IIT/IIM alumni. We are focussed to make quality education available to all.

 

  1. What is the Easy Pay scheme?

Easy pay scheme is a finance facility offered by us to convert your children school fee and other allied fees into easy monthly installments at an affordable cost.

 

  1. Who can avail FP Easy pay scheme?

All parents of the Educational Institute, both salaried and self-employed can apply for the Easy pay option

 

  1. Can we decide the installment tenure?

We offer various repayment option and the same are communicated via the Fee Circular

 

  1. Can we include other fee such as Transport, Books, Uniform etc.?

Yes, any fee that is payable to your education institute can be included in the Easy pay scheme.

 

  1. How do I pay the monthly installments?

The monthly installments are auto debited from your bank account, request for the same will be obtained from you at the time of sanction of the easy pay facility.

 

  1. Are there any Hidden charges?

There are absolutely no hidden charges, In case a monthly installment is not paid as per due date, a bounce or penal interest charge will be applicable.

 

  1. Can I Foreclose the Easy pay scheme facility?

Yes, you can foreclose the facility anytime you would like to and there are no charges for it.

 

  1. What are the documents required to avail the Easy pay scheme?

Applicants are required to share a clear copy of their PAN, Aadhar, Bank Account details and the student ID number

 

  1. Is my Data Secure?

Yes, we save all the data on a private cloud server, ensuring safety and security of data. We are a RBI licensed NBFC and all your data is completely secure with us.

 

  1. Can I renew this facility for next year?

Yes, once you have availed our facility and completed the payments promptly, you can renew the facility for subsequent payments

 

  1. Is this facility available in all Velammal Branches?

Yes, the scheme is available in all our 22 locations

 

  1. What are the Fee components covered for New Admission?

Any fee that is payable to your education institute can be included in the Easy

Pay scheme-

  • Admission Fee
  • All Term Fee
  • Books & Uniform
  • Transport
  • Prepvel Fee(Foundation fee gr 6-10)
  • GPS