Are you an aspiring Chartered Financial Analyst (CFA) worried about the hefty fees? Synthesis Learning has some great news! The CFA Institute in India now offers a flexible payment or equated monthly installment (EMI) option. This initiative allows eligible candidates to pay their CFA exam fees in monthly installments, thanks to a partnership with Eduvanz Finance. Here’s everything you need to know about this convenient financing solution.
What is the EMI Option?
The EMI option is a flexible payment method designed to make the CFA program more accessible. It allows candidates to spread their CFA exam fees over several months, reducing the financial burden. This initiative is particularly beneficial for those who might find it challenging to pay the full fee upfront.
This video provides a comprehensive breakdown of everything you need to know about CFA EMI payment options available for CFA candidates in India.
Who is Eduvanz?
Eduvanz Finance, founded in 2016, is a learner-focused financing institution. They provide fast and convenient access to financial solutions, empowering over 125,000 students to achieve their career and professional goals. With Eduvanz, CFA candidates can benefit from quick approvals, direct payments to CFA Institute, and hassle-free processing.
For more information or to start your application, visit Eduvanz’s dedicated CFA page
Flexibility with Loan Providers
While Eduvanz is the official partner, candidates are free to choose any loan provider. However, Eduvanz offers several advantages, including fast approvals and direct payments to CFA Institute, making the process smoother and quicker.
Eligibility for EMI
To qualify for the EMI option, candidates must:
- Be an Indian citizen residing in India
- Be between 21 and 65 years old
- Be a salaried employee of a private limited company or a public sector undertaking, or be self-employed with a minimum turnover
- Non-wage-earning students can also apply if an earning family member acts as their financial co-applicant.
EMI Tenure and Payment Details
The EMI tenures range from 6 to 24 months, offering flexibility based on your financial situation. Once approved, Eduvanz disburses the full amount directly to CFA Institute, completing your registration process. This ensures a smooth and seamless experience for candidates.
Family Members as Co-borrowers
For students not yet earning, an earning family member can act as a co-borrower. This makes it easier for students to access this financing option without putting undue stress on their own finances.
Coverage of Fees
The EMI option covers all three levels of the CFA Program. However, it does not cover:
- Other credentials and certificate programs from CFA Institute
- Course fees for scholarship candidates
- Deferral and rescheduling fees
Having an active invoice as proof of your CFA Program exam registration is crucial to initiate an EMI application. You can download the invoice during the Early Registration window and for a limited period during the Standard Registration window.
Documents Required
Good news – no security or collateral is required for this loan. If the candidate is not earning, an earning family member can provide the necessary proof of income to initiate the application. They must also meet the Know-Your-Customer (KYC) requirements.
Application Process
Initiating an EMI application is straightforward:
– Register for the CFA Program on the CFA Institute website.
– On the payment page, select “Pay By Invoice” and download the invoice.
– Visit Eduvanz’s dedicated CFA page.
– Select the option to initiate an application and complete the requirements.
– Submit the invoice downloaded from the CFA Institute registration process.
Take Action Now: If you’re ready to register for the CFA Program and benefit from the EMI option, start your application process today!
Impact of CFA Exam Registration
If you fail to make necessary EMI payments, your CFA exam registration and results will not be cancelled. The EMI payments are not linked to your CFA exam registration or results. However, the loan repayment will continue as per the agreement with Eduvanz.
If the CFA Institute defers your exam, your EMI repayment schedule will remain unchanged. You can also apply for another loan for the next exam level even if you have an active loan.
Refund Process
If you cancel your exam registration and have availed the EMI option, Eduvanz will initiate a refund after CFA Institute processes your refund request. The refund amount will be determined based on the agreement between Eduvanz and the applicant.
Disclaimer
The flexible payment option does not constitute financial or investment advice by CFA Institute, nor does it provide financial or brokerage services. Eduvanz is an independent third-party education loan provider and is not related to CFA Institute. CFA Institute is not liable for any acts or omissions of Eduvanz. All payments and refunds will be as per the terms between the applicants and Eduvanz.
Don’t let financial constraints hold you back from achieving your CFA dream. Take advantage of the EMI option and spread your CFA exam fees over manageable monthly payments. Visit Eduvanz’s dedicated CFA page and start your application today!
At Synthesis Learning, we are committed to supporting your CFA journey every step of the way. For personalized coaching and comprehensive CFA preparation, Call us at 8291703707 to speak with an advisor.. Together, we’ll make your CFA dream a reality!
