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Leap Finance - Education Loan

INTERNATIONAL LENDERS

No collateral needed

Loan Margin : NIL

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NA avg loan processing time

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Margin

NIL

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Collateral

No

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Loan Tenure

Upto 10 Years

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Processing fee

1.5% to 2.0%

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Early Repayment

No

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Living Cost

No

Secured Loan

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Amount

No limit

Un-Secured Loan

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Amount

No limit

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UniCreds Guarantee

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Quick Loan Sanctions

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100% Transparency

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No Hidden Fees

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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.

FeaturesEducation Loan Details
Loan amountMinimum Loan amount - $10,000 Maximum Loan amount - Up to 100%* of total cost of education
Margin moneyNil
Interest rateSeveral 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 fee1.5% to 2.0%
Processing time3 Working Days
Loan tenure10 Years
Prepayment chargesNil
Repayment holidayDuration of course + 6-12 months
Countries coveredUSA

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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.

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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.
TypeRequirement
Eligibility for Leap Finance Student LoanEvery 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

No Collateral Required
It offers loans with no collateral since it has an excellent credit engine. Since the education loans are generated in the USA, it outperforms all current US lenders in India.
Full Cost Coverage
Students can cover up to 100% of their finances and also have the added flexibility to change their amount and tenure based on their requirements.
Quick Online Process
Students can upload their documents online and complete their entire loan application process swiftly & get it sanctioned without having to visit the branch physically.
Flexible Repayment Options
With no prepayment penalties, students have the flexibility to repay their Leap student loans within a period of 7 to 10 years* along with a 6 months grace period.

Benefits Of Getting Your Education Loan Through UniCreds

Higher Chance Of Approval
By applying for your education loan through us, you are increasing your chances of approval. Generally, banks/NBFCs dismiss applications if they find any missing documents, property issues, or any other problem. We will immediately reach out to Leap Finance officials and find the best solution. .
Online Submission Of Documents
All our education loan services are completely free of cost.
No Cost To You
No minimum balance charge, No ATM withdrawal charge, No monthly/annual maintenance charged, Zero wire transfer fees. All these charges lead to around $329/annum of extra pressure on the student's pocket.
Quick Loan Sanctions
In the case of an emergency, you can utilise UniCreds to expedite the loan application process. In reality, your student loan should be finalised within two working days. If you need to meet a deadline to get your loan sanctioned, pay the cost, or acquire your VISA, contact us and we will make sure your loan is granted on time.
Up To 100% Finance
Whether you choose a loan with or without collateral, you can continue to earn up to 100% financing. With so many various types of charges to cover throughout your trip abroad, it will keep you safe.
Quick Online Process
It easy for you to upload documents without having to visit the branch. This helps you save energy, time, and money, as well as avoid the physical labour of dealing with large amounts of paperwork.
No Defined Limit On The Loan Amount
You can expect up to 90% funding for your cost of education. Below is a list of expenses that will be covered: 1. Tuition Fees 2. Accommodation/Hostel expenses 3. Any deposits to be paid at the Institute 4. Cost of uniform, books, & other miscellaneous expenses 5. Travel & Transportation costs
Covers The Entire Cost Of Study And Living
Education Loan offers education loans that cover living expenses, caution deposit/building fund/refundable deposit, and travel expenses for students going abroad.

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:

phone

18001217661

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Need Guidance Faster? Call us at:

phone

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 -

  1. 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. 
  2. 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.
  3. 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.
  4. 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.
  5. Once the documentation and application are verified to be free of errors, the loan is accepted and ready for sanction.
  6. 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.
  7. After signing an agreement, the student is authorised to receive loan payments.
  8. We ensure that the lender will then deposit the funds into your bank account or into the university's account.

Looking forSparkLogoFaster and
streamlined Process?

100% Transparency

100% Free

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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.

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Documents required for Leap Student Loan

Following are the documents required:

TypeDocuments Required
For BorrowersSTUDENT: 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-SignerCO-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 LoanCollateral 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.

%
Years
Months
Months

The displayed EMI amount is approximate & is subject to change based on various factors.

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Monthly EMI
0
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Principal Amount
1,600,000
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Total Interest
0
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Total Amount
0
Interest(₹)
Principal Amount(₹)
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What our Students say about us

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Frequently Asked Questions

All Indian students over the age of 18 who are seeking to or have applied to a supported university are eligible for an education loan to study abroad.
The interest rate is determined by a number of criteria, including university choice, course selection, country, GRE and general academic achievement, work experience, loan tenure, collateral vs. no collateral, and prepayment.
Leap Finance study loans are trusted by students globally, with high satisfaction ratings for their efficient process and competitive rates.
Because the application procedure is entirely online, submitting documents is quick and easy. Essentially, there are 3 types of documents - KYC Documents, Academic Documents, and Financial Documents. These will have to be submitted by both, the applicant as well as the co-applicant.
When you are in India, you can open a bank account. The only document necessary to apply is your passport. However, the account is activated once you submit your valid US visa.