Goodwin Financial Holdings Pvt. Ltd. is a Non- Banking Financial Company (NBFC) regulated by Reserve Bank of India.
We are a new age finance company reinventing education lending for studies abroad. We believe many aspiring high potential students are not getting the funding they need; we’re committed to funding access for talented students to prestigious universities.
We are a new age finance company reinventing education lending for studies abroad. We believe many aspiring high potential students are not getting the funding they need; we’re committed to funding access for talented students to prestigious universities.
Unlike most lenders, we use technology and a better understanding of the needs of the students to determine loan affordability.
- Simple application and quick Processing : Conditional approval in five days
- Loans tailored to suit your needs
- Multiple co-borrowers accepted
- Flexibility on collateral security
- Funding 100% school certified costs.
- Exceptional service: our aim is to help student succeed
- Support for pre-admission loans and pre-visa disbursements.
To be qualified for a loan from Goodwin:
- You must be an Indian citizen and over 18 years of age.
- You must have a confirmed offer of admission from an accredited university before disbursement of the loan.
- Your loan must be signed by a Co-borrower’s with acceptable credit history
- Usually be willing to offer a collateral security
You can make an application at any time before the course starts. However, we encourage you to apply early: early application has many benefits including letting the university know that your funding is assured. Ideally the loan application process should start as soon as they know what college/university they plan to attend.
Goodwin has developed a proprietary credit model only for studies abroad to assess each student profile. It is a predictive model, so it takes into account not only the current situation reflected by the student in the application, but also the future potential of repayment according the program and school attended.
The credit history of the co-borrower and the collateral offered are important aspects of our review process. We also look at the cash flow, debt-to-income ratio and savings habits of the co-borrower.
The credit history of the co-borrower and the collateral offered are important aspects of our review process. We also look at the cash flow, debt-to-income ratio and savings habits of the co-borrower.
A co-borrower is often necessary for an education loan. Most students have limited or no credit history and income, so they need someone (usually a parent or other relative with good credit) to cosign a student loan with them.
The co-borrower should be an Indian citizen who would agree to co-sign and execute the loan agreement and other documentation. The co-borrower (s) income and credit history are used to qualify for the loan. Under this arrangement, the co-borrower is the primary debtor for the loan and all parties involved have an obligation to repay the loan as laid out in the loan agreement
The security coverage depends on the applicants merit and credit-worthiness and varies from case to case. However, we advise that every student/co-borrower offers the collateral they have, as it opens up options for increased loan eligibility and competitive interest rates.
Collateral is required to mitigate the risk involved in the credit. Since the student hasn’t started to earn yet, we are not sure of his future income and profile, hence the collateral.
Goodwin is committed to funding high potential students with no collateral security or acceptable co-borrower. Our team at ‘Transformational Loan’ will be glad to help such students find the necessary finance to complete the course.
Interest is calculated only on funds that have been disbursed; it may be calculated on daily, monthly or yearly reducing principal basis. To calculate your accrued interest, we use the ‘simple daily interest’ method. This means that interest accrues each day in an amount equal to 1/365 times your APR(Annual Percentage Rate) multiplied by your remaining principal owed.
We charge a processing fee of up to 2% to cover the cost of processing your loan and having the funds disbursed.
Interest rates are determined based on a number of variables, relating to both the student and the co-borrower and the quality of collateral security that we can obtain for you. Other factors include your academics, affordability, school's requirements, your savings, etc. Unlike traditional lenders that assess on current salary, we will look at each student future salary potential after finishing their course. Each decision is customized for every applicant.
You will be required to provide the following supporting documents with the application.
KYC Documents
Proof of Admission, in the form of a confirmation letter or an email from your school (if applicable) or the
Academic records of the student, his test scores and the university& the course intending to apply. (if applying for a loan before admission)Co-borrower’s financial profile
Details of Collateral Offered
Proof of scholarships or financial aid (if applicable)
KYC Documents
Proof of Admission, in the form of a confirmation letter or an email from your school (if applicable) or the
Academic records of the student, his test scores and the university& the course intending to apply. (if applying for a loan before admission)Co-borrower’s financial profile
Details of Collateral Offered
Proof of scholarships or financial aid (if applicable)
After Submission of the completed application with required documents, all eligible applicants will be contacted by a Goodwin executive to review the application, answer questions and occasionally we may seek additional information to complete the application process. Once the application is validated by Goodwin as ‘complete’ our credit team will provide a Provisional approval within 5 business days.
The loan application will be processed in two phases: 1. Provisional approval and 2. Disbursement of funds.
The Provisional approval letter would be given in about 5 days from the date of receipt of completed Application Form along with the supporting documents from the student. The disbursement would be completed within 5 days from the date of receipt of all signed loan documents & completion of all the sanction conditions by the student/co-borrower.
The Provisional approval letter would be given in about 5 days from the date of receipt of completed Application Form along with the supporting documents from the student. The disbursement would be completed within 5 days from the date of receipt of all signed loan documents & completion of all the sanction conditions by the student/co-borrower.
Goodwin Finance makes payments directly to the University/College only. The education loan amount is disbursed in Indian Rupees and shall be transferred as per agreement with the third party i.e FOREX service provider. The tuition and hostel fee will be directly disbursed to the college/university, in instalments, as per the requirement of the specific educational institute. The loan amount related to other expenses will be disbursed in instalments, spread over the duration of the study and ideally will be transferred to the student/co-borrower’s account.
You start making payments after the first loan disbursement. Our loans require at least the interest part of the loan to be paid while the student is in school. However, in exceptional cases, our loan product, Transformational Loan, can waive this requirement and accept very small payments during the study period.
You can choose to pay back the loan over 1 or 10 years. Goodwin offers flexible repayment options that suit the needs of the students and parents. The student may choose to opt for the one most conducive to him/her. For example you can make small payments during school and larger payments on your loan start after you graduate.
Yes. And, there is no prepayment penalty for those willing to repay part or your entire loan ahead of schedule.
Should you be required to prove availability of funds for visa purposes or for University admission, we will issue you with such a letter only after all necessary documentation relating to your loan application is complete
The maximum loan amount that you can borrow depends on the program, university and the course you intend to attend, subject to repayment capacity of the parent/student.
We are happy to receive your feedback. Please give us a call at (40) 23553153 or email us at info@goodwinfinance.com to file a complaint.
If you believe there was an error in our review of your application, please feel free to reach out to our customer services team via phone or email, Similarly, if you believe there was an error on your credit report that affected our decision, please have it corrected with the credit reporting agency and then follow up with us to have your application reevaluated.
We encourage you to reapply after you have made progress towards improving your financial profile. For more information about what we typically look for when evaluating your application, please see our Eligibility Guidelines.
We encourage you to reapply after you have made progress towards improving your financial profile. For more information about what we typically look for when evaluating your application, please see our Eligibility Guidelines.
Security for the loan is determined by the quantum of loan required and the credit worthiness of the co- borrower and the academic credentials of the student . We accept the following types of Collateral Security:
Residential property (house/flat/apartment/plot)
Fixed deposit assigned to Goodwin
Life insurance with surrender value equivalent to required security coverage.
Open land /Commercial property/non-residential property as per company policy.
Residential property (house/flat/apartment/plot)
Fixed deposit assigned to Goodwin
Life insurance with surrender value equivalent to required security coverage.
Open land /Commercial property/non-residential property as per company policy.
At Goodwin the KYC policy specifies certain commonly available documents as proof of personal identification and address proof for students/co-borrowers/guarantors. For complete list of documents please click here
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+91(40) 23553153
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