Leap Finance - Education Loan
INTERNATIONAL LENDERS
No collateral needed
Loan Margin : NIL
NA avg loan processing time
Margin
NIL
Collateral
No
Loan Tenure
Upto 10 Years
Processing fee
1.5% to 2.0%
Early Repayment
No
Living Cost
No
Secured Loan
Amount
No limit
Un-Secured Loan
Amount
No limit
UniCreds Guarantee
Quick Loan Sanctions
100% Transparency
No Hidden Fees
24x7 Support
Key Features
Leap Finance, an Indian financial services company was founded in 2019 with the intention of providing high-potential students with affordable student loans at reduced interest rates, a hassle-free service, and a simple process. It intends to close the financial gap by integrating global finance providers with aspiring students in growing economies. They assists future leaders from India who wish to pursue their higher studies in the USA or Canada. Students can obtain a Leap Finance abroad education loan for their study abroad journey and streamline their student loan process. Essentially, It intends to provide modern financial products and services that would assist Indian students in pursuing global careers.
| Features | Education Loan Details |
|---|---|
| Loan amount | Minimum Loan amount - $10,000 Maximum Loan amount - Up to 100%* of total cost of education |
| Margin money | Nil |
| Interest rate | Several factors impact the education loan interest rate, and they include: the university of choice, the course, the destination country, GRE scores and the overall academic performance, the student's work experience, loan tenure, and more. It is known to offer interest rates that are the lowest in the industry which makes it feasible for low-income group students to apply for the same. Furthermore, the interest rates are fixed unless other international lenders are involved in order to eliminate any uncertainty during repayment. The table below shows the interest rates that students can expect to pay: 1. Interest Rates - starts from 11% 2. Collateral - No Collateral |
| Processing fee | 1.5% to 2.0% |
| Processing time | 3 Working Days |
| Loan tenure | 10 Years |
| Prepayment charges | Nil |
| Repayment holiday | Duration of course + 6-12 months |
| Countries covered | USA |
Looking for
Faster and
streamlined Process?
100% Transparency
100% Free
Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.
Eligibility
Leap Finance believes that every student who wishes to study in the USA is eligible for a loan. Here are the eligibility criteria:
- The applicant must be an Indian national.
- They must be over the age of 18.
- The candidate may be required to have an Indian co-signer to share loan payments.
- The candidate must have been admitted to a university or should be applying for a Master's degree or higher at one of the universities or courses funded by a Leap.
- Even though their application to the University is pending, the candidate should be entitled to apply. However, the loan amount will not be sanctioned until we receive the approval letter.
| Type | Requirement |
|---|---|
| Eligibility for Leap Finance Student Loan | Every student who wishes to study in the USA is eligible for a loan. Here are the eligibility criteria: 1. The applicant must be an Indian national. 2. They must be over the age of 18. 3. The candidate may be required to have an Indian co-signer to share loan payments. 4. The candidate must have been admitted to a university or should be applying for a Master's degree or higher at one of the universities or courses 5. Even though their application to the University is pending, the candidate should be entitled to apply. However, the loan amount will not be sanctioned until we receive the approval letter. |
Benefits of Leap Education Loan
Benefits Of Getting Your Education Loan Through UniCreds
Get Guidance at every step of your loan application
We ensure 100% transparency throughout the education loan process.Our education loan counsellors will stay by your side every step of the way.
Need Guidance Faster? Call us at:
18001217661
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Need Guidance Faster? Call us at:
18001217661
How to Apply?
Leap Finance attempts to simplify the loan application and approval process by remaining transparent and simple. Following are the steps to apply -
- Once you've verified your eligibility, you may start your application. Students can apply online or request a call from one of our expert student loan consultants.
- Our skilled counsellors can help you get a Leap Finance loan. Prior to submitting the form, our counsellors will thoroughly review your profile depending on your eligibility.
- UniCreds lets students submit documents online, eliminating the need to submit your documents at the bank and allowing you to do so from the comfort of your own home.
- Furthermore, we provides you with a customised set of documents depending on your profile and the loan you've applied for in order to expedite the process.
- Once the documentation and application are verified to be free of errors, the loan is accepted and ready for sanction.
- After obtaining the permission letter, the student and co-applicant must execute the loan agreement within the 6-month validity term of the sanctioning letter.
- After signing an agreement, the student is authorised to receive loan payments.
- We ensure that the lender will then deposit the funds into your bank account or into the university's account.
Looking forFaster and
streamlined Process?
100% Transparency
100% Free
Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.
Documents required for Leap Student Loan
Following are the documents required:
| Type | Documents Required |
|---|---|
| For Borrowers | STUDENT: 1. Pan Card 2. Aadhar Card 3. Passport 4. University Admission Letter 5. Entrance Score Card - GRE/ GMAT/ TOEFL/ IELTS, etc. 6. Academic: 10th, 12th & Degree - All semester Individual Marksheets 7. Resume 8. Name, Address, Contact and Email ID of 2 References (Friends/ Family/ Neighbors) 9. 3 months Salary slips (If Applicable) 10. 6 months Bank Statements (If Applicable) 11. Form 16 / ITR (If Applicable) MOTHER & FATHER (BOTH COMPULSORY): 1. Pan Card 2. Aadhar Card 3. Mobile Number & Email ID |
| Co-Signer | CO-SIGNER (Salaried-Job): 1. PAN Card & Aadhar card 2. Latest 3 months salary slips 3. Latest 1 Year Salary Credited Bank Statements 4. Latest 2 Years Form 16 5. Electricity Bill 6. Mobile Number & Email ID IF CO-SIGNER (Self Employed/Business): 1. PAN Card & Aadhar card 2. Latest 2 year ITR with Computation income, Profit & Loss and Balance sheet 3. Business proof (GST, UDHYAM ADHAR, and GUMASTA) 4. Latest 1 Year Bank Statement (Income Credited) 5. Electricity Bill 6. Mobile Number & Email ID |
| Collateral Loan | Collateral Documents: 1. Registered Sale Agreement (All chains) 2. Share Certificate 3. All Property Related Documents- e.g- Sanction Plan, Tax paid Receipt 4. NA conversion certificate in case of Plot. 5. OC/CC and Approved Building Plan. 6. 7/12 Extract 7. Society NOC 8. Any other Documents associated with Property |
| Co-Applicant’s Documents (If Self-employed) | 1. Address Proof 2. ID Proof 3. Bank Statement of the last 6 months 4. Income Tax Returns 5. Proof of Office - Utility Bills, Lease Deed, Title Deed 6. CIBIL Score 7. Any other Income Proof |
Education Loan Repayment
Leap Finance provides a direct transfer of money to the university or higher education institution that covers all expenditures. In order to develop a decent credit score in both India and abroad, partial monthly interest repayments are essential. After six months after course completion, full repayment in EMIs begins.
The displayed EMI amount is approximate & is subject to change based on various factors.
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