Cynapse launches India’s first Education loan on Whatsapp

Cynapse has launched India’s first WhatsApp-based education loan process for free. Cynapse has partnered with 11 major public and private sector banks exclusively to offer education loans for eligible students. With this launch, Cynapse has truly made education loans a simple and hassle-free service for students. The major features of this service include

  • All interactions through WhatsApp: pre-eligibility check, documents upload, application status
  • A Cynapse Advisor is also assigned to clear doubts and help in the application (via call)
  • A pre-eligibility assessment (diagnosis) on Whatsapp to know if you are eligible for both with & without collateral education loans
  • Get an instant report on your Whatsapp chat in 10 mins
  • Automated Document collection via Whatsapp chat
  • Apply to eligible public & private sector banks
  • Get Application Status notifications on Whatsapp

Steps to apply via Whatsapp

  1. Send a “Hi” to Cynapse’s Whatsapp number
  2. Cynapse Whatsapp bot will ask you basic questions like name, etc. Please fill in those details
  3. Once you get to the main menu, click on Book an Appointment to get a Cynapse Advisor assigned
  4. You’ll receive a call during the appointment time to clarify all doubts that you have if required. You can also proceed to the next step (5) without waiting for a call
  5. Click on Menu and choose Diagnostics
  6. Choose the type of education loan most suitable for you (secured – with collateral or unsecured – without collateral)
  7. Complete the diagnosis process by answering all questions (takes approx 5-10 mins)
  8. You’ll get your report in your Whatsapp chat
  9. You can discuss your report with your Cynapse advisor and understand the necessary steps to be taken to rectify problems (if any)
  10. Cynapse will create an underwriting-ready file and apply it directly to the relevant bank’s credit team
  11. In the case of loans with collateral security, Cynapse can fetch relevant property documents digitally, or you can provide your own
  12. In the case of secured loans, you should be able to get the loan approved in less than 3 weeks and for unsecured loans (without collateral) it should be approved in 2 weeks’ time. You’ll be notified via WhatsApp of your loan status

Hope you found the article useful. Do visit www.cynapse.co.in to know more about Cynapse education loan platform or write to contact@cynapse.co.in for clarifying your queries