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Leap Finance is an Indian financial services company committed to providing young Indians with education loans to pursue their dreams of studying abroad. By their own admission, they believe that young Indian students have the potential to be as influential and successful as famous Indian personalities like Sundar Pichai, Indira Nooyi, Satya Nadella and Laxman Narasimhan. Leap Finance provides Indian students with quality education loans to the USA and Canada. With minimum documentation needs, low interest rates and professional counselling, Leap Finance has gained the confidence of many young Indian students. The application process is 100% online and it takes 10 minutes to complete. Students can easily apply from home and get the official sanction letter.
Features Of Leap Finance Abroad Education Loan
| Sr. No | Features | Education Loan Details |
|---|---|---|
| 1 | Loan amount | Minimum Loan amount - $10,000 Maximum Loan amount - Up to 100% of total cost of education |
| 2 | Margin money | Nil |
| 3 | Processing fee | 1.5% to 2.0% |
| 4 | Processing time | 3 Working Days |
| 5 | Loan tenure | 10 Years |
| 6 | Prepayment charges | Nil |
| 7 | Repayment holiday | Duration of course + 6-12 months |
| 8 | Countries covered | USA |
Benefits of Leap Finance Abroad Education Loan
Up To 100% Finance
Quick Online Process
No Defined Limit On The Loan Amount
Covers The Entire Cost Of Study And Living
Benefits Of Getting Your Leap Finance Abroad Education Loan Through UniCreds
Higher Chance Of Approval
Online Submission Of Documents
No Cost To You
Quick Loan Sanctions
Calculate EMI for Education Loan
Loan Amount
Interest (p.a)
Loan Duration
Course Duration
Grace Period
Monthly EMI
Principal Amount
Total Interest
Total Amount
Loan Amortization Schedule
Following table show the year wise payment schedule.
| Month | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
|---|---|---|---|---|
Month 1 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 2 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 3 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 4 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 5 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Eligibility Criteria For Leap Finance Abroad Education Loan
| Sr. No | Type | Requirement |
|---|---|---|
| 1 | Eligibility for Leap Finance Education Loan | 1. The student must be an Indian citizen. 2. The student should have a strong academic record. 3. The student must be seeking admission to a professional or technical course of study, since. 4. Lenders always prefer giving loans for STEM courses. 5. The student must have already secured or have applied for admission at the foreign university. 6. The student must be above the age of 18 years |
Documents Required for Leap Finance Abroad Education Loan
UniCreds provides students with a customised list of documents by analysing the student’s profile, the co-applicant’s profile and any property/asset, which you may offer as collateral. At a high level, these are the documents needed -
| Sr. No | Type | Documents Required |
|---|---|---|
| 1 | Applicant’s Documents: | 1. PAN card. 2. Aadhaar card - 2 pages. 3. Passport (First and last page). 4. 10th, 12th, BE or Higher degree transcripts incomplete. 5. Credit report. 6. 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). 7. GRE/ IELTS/TOEFL scorecards. 8. Admission letter. 9. Passport size photo. |
| 2 | Co-Applicant’s Documents: | If Salaried - 1. PAN card. 2. Aadhaar card 2 pages. 3. Residence proof. 4. Last 3 months payslips & 6 months’ salary credits banking (In case of lockdown at least onepayslip and 1-month banking within the last 3 months to be submitted). 5. Form 16 for the last 2 years. 6. Credit report. 7. Additional income if any proof of the same. If Self Employed - 1. PAN card. 2. Aadhar card 2 pages. 3. Residence proof. 4. Individual ITR for last 2 years with Computation of Income, Trading and P/ L account, Balance sheet. 5. Latest 6 months individual banking (In case of lockdown at least 3 months latest banking to be submitted). 6. CIBIL report. 7. Additional income if any proof of the same. Once you submit the documents on the UniCreds website, we will initiate the loan process with Leap Finance. If by any chance, some documents are missing, then we will suggest alternatives to get your loan sanctioned on time. |
Loan Repayment For Leap Finance
1. The payback time is limited to 15 years from the start of repayment, whether you accepted an Indian or an international course. 2. Education loan repayment typically starts one year after the end of the six-month period following work, whichever comes first. 3. The very first instalment of the loan will be disbursed, and interest repayment will commence instantaneously. 4. The repayment options for the Leap Finance Education Loan are flexible and adjustable.
How To Apply For Leap Finance Abroad Education Loan?
1. Apply Online & Upload Your Documents You can begin your application after you've verified your eligibility. Students can apply online or receive a callback from one of our expert student loan advisors. Our knowledgeable counsellors can assist you in obtaining a Leap Finance Education Loan without or with collateral, depending on your circumstances. Our counsellors will completely evaluate your profile after you've changed your profile information and, based on your eligibility, will recommend the next set of activities to you. 2. Processing and Approval Once you've uploaded/submitted the necessary documentation, you can send your loan application and related paperwork to Credenc for examination and real-time approval. UniCreds will communicate with the Leap Finance Education Loan department on a regular basis to keep track of your application's status and guarantee that it is addressed as quickly as possible. If there are any significant revelations, our website will keep you informed. Applicants should be informed that the lender may approach them at this time to ask for additional documentation to substantiate their loan application. Applicants will get these precise requirements from UniCreds. If a demand is made that is unreasonable, we shall report it to the Leap Finance Education Loan authorities. The loan is accepted and ready for sanction once the papers and application are verified to be free of errors or additional loopholes. 3. Loan Sanction And Disbursal After receiving the approval letter, the student and co-applicant must sign the loan agreement within the sanctioning letter's 6-month validity period. The student is authorised to loan disbursement after entering into an agreement. The lender will transfer the necessary funds into your bank account or into your university's/account. We discuss with the Leap Finance Education Loan team and get everything done if the student wants disbursement prior to the visa as per the visa office's guidelines. UniCreds will also ensure that disbursements are made on time, and students can contact UniCreds at any time during the loan's term.