Leap Finance Education Loan Options

February 03, 2022

Leap Finance Education Loan Options
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Leap Finance is a financial services organization in India that provides student loans to ambitious Indians who want to study abroad.  It provides high-quality college loans to Indian students studying in the United States and Canada. Because of its minimum paperwork requirements, reasonable interest rates, and competent counselling, it has gained the trust of many young Indian students. The application for a Leap Finance Education Loan is fully online and takes less than ten minutes to complete. Students can apply and obtain an official sanction certificate from the comfort of their own homes.

Leap Finance Education loan

Features & Benefits Of The Leap Finance Education Loan

Because they offer the greatest financial architecture and innovative technologies to help you, Leap Finance student loans are for aspiring Indian students pursuing abroad graduate programmes. Here are some of the benefits – 

Up To 100% Finance

You may continue to earn up to 100 per cent funding whether you pick a Leap Finance Education Loan with or without collateral. With so many diverse kinds of expenses to cover throughout your overseas stay, Leap Finance will keep you secure.

Quick Online Process

You may upload the necessary documentation to Leap Finance without needing to visit the branch. This allows you to save energy, time, and money while also avoiding the physical labour of dealing with big quantities of paperwork.

No Defined Limit On The Loan Amount

With Leap Finance, you may anticipate up to 90% assistance for your education costs. The following is a list of expenditures that will be reimbursed by the Leap Finance Education Loan for international study –

  • Tuition Fees
  • Accommodation/Hostel expenses
  • Any deposits to be paid at the Institute
  • Cost of uniform, books, & other miscellaneous expenses
  • Travel & Transportation costs

Quick Loan Sanctions

In case of an emergency, you can use UniCreds to speed up the loan application procedure. In actuality, your student loan should be approved within two business days. If you ever need to meet a deadline to get your loan authorized, pay the fee, or obtain your VISA, call UniCreds and we will ensure that your loan is authorised on time.

Also Read: Top 14 Best Ways To Pay Off Student Loans Quickly

Eligibility for Leap Finance Education Loan

  • The student must be an Indian citizen
  • The student should have a strong academic record
  • Lenders always prefer giving loans for STEM courses
  • The student must have already secured or have applied for admission at an abroad university
  • The student must be above the age of 18 years

Documents Required for Leap Finance Education Loan

UniCreds provides students with a customised list of documents by analysing the student’s profile, the co-applicants profile, and any property/asset, which you may offer as collateral. At a high level, these are the documents needed –

Applicant’s Documents:

  • PAN card
  • Aadhaar card – 2 pages
  • Passport (First and last page)
  • 10th, 12th, BE, or Higher degree transcripts incomplete
  • Credit report
  • Last 3 months payslips and 6 months banking-if applicable (In case of lockdown at least one payslip and 1-month banking within the last 3 months to be submitted)
  • GRE/ IELTS/TOEFL scorecards
  • Admission letter
  • Passport size photo

Co-Applicant’s Documents:

If Salaried –

  • PAN card
  • Aadhaar card 2 pages
  • Residence proof
  • Last 3 months payslips & 6 months’ salary credits banking (In case of a lockdown, at least one payslip and 1-month banking within the last 3 months to be submitted)
  • Form 16 for the last 2 years
  • Credit report
  • Additional income if any proof of the same

If Self Employed – 

  • PAN card
  • Aadhar card 2 pages
  • Residence proof
  • Individual ITR for the last 2 years with Computation of Income, Trading, and P/ L account, Balance sheet
  • Latest 6 months individual banking (In case of a lockdown, at least 3 months latest banking to be submitted)
  • CIBIL report
  • Additional income if any proof of the same

The Application Procedure For A Leap Finance Education Loan

  • After you’ve checked your eligibility with UniCreds, you can apply online or request a callback from one of the expert education loan counsellors at UniCreds.
  • The education loan consultant will call you and note down all of your requirements. We will verify if you are qualified for an education loan from Leap Finance after assessing your profile and will connect you with the lender.
  • All essential documents must be uploaded digitally. At this point, we step in to help you through the process by providing a list of the documents you’ll need to submit with your application. This way, you won’t overlook any paperwork, which will speed up the processing of your applications. Make sure you also check the Leap Finance education loan interest rate.
  • The lender will process the application once it has been submitted with all of the required papers.

You may also like to read on What To Do After University Education

Loan Repayment

The payback time is limited to 15 years from the start of repayment, whether you accepted an Indian or an international course. Education loan repayment typically starts one year after the end of the six-month period following work, whichever comes first. The very first instalment of the loan will be disbursed, and interest repayment will commence instantaneously. The repayment options for the Leap Finance Education Loan are flexible and adjustable.

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PareeshtiWitten by Pareeshti It all started with an impulsive urge to befriend Enid Blyton and be a part of the famous five! Writing since then has been my magic wand and I've used it to sprinkle words like fairy dust and express myself thereat.
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