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Leap Finance

Leap Finance is a financial services company that is based out of India. The main goal of the company is to provide financial aids to young Indians who want to study abroad in USA and in Canada. Leap Finance has acquired the trust of many young Indian students because of its minimal documentation requirements, moderate interest rates, and professional counselling. The application is entirely online and takes only 10 minutes to complete. Students can apply from the comfort of their own homes and receive an official sanction letter.

Leap Finance Education Loan Features

The various features of Leap Finance Education are mentioned below:

Loan amount
  • Minimum: Rs.7,64,513
  • Maximum: Full tuition cost
Tenure of loan 10 years
Processing fee 1.5% to 2.0%
Processing time Up to 3 working days
Margin Money Nil

Leap Finance Education Loan Benefits

The various benefits of Leap Finance Education Loan are mentioned below:

  1. Swift Application Process: Leap Finance provides a swift online application process to its applicant with minimal documents. This makes it easier for students to save time and energy while applying for an education loan.
  2. No limit on loan amount: With Leap Finance, students can get up to 90% assistance for their school costs. The company will provide loan for cost of tuition, living expenses as well as expenses for travel and transportation.
  3. Provides 100% financial assistance: Leap finance provides 100% financial assistance regardless of collateral.

Leap Finance Education Loan Eligibility Criteria

The various eligibility criteria for Leap Finance Education loan are given below;

  • The student should be an Indian citizen and above the age of 18
  • Should have a strong academic background
  • Should have an admission offer from an USA or Canadian University

Leap Finance Education Loan Documentation

The documents that are required while applying for a Leap Finance education loan are mentioned below:

Documents needed from the Applicant
  • Aadhar card – 2 copies
  • PAN Card
  • Passport
  • Academic certificates (10th, 12th, and higher education)
  • Payslips from the last three months and bank statements from the previous six months, if relevant
  • Admission letter
  • GRE/IELTS/TOEFL scores
  • Passport size photo
  • Credit report
Co-applicant (Salaried)
  • Aadhar card – 2 copies
  • PAN card
  • Payslips from the last three months and bank statements from the previous six months
  • Residence proof
  • Last 2 years Form 16
  • Credit report
Co-applicant (Self-employed)
  • Aadhar card – 2 copies
  • PAN card
  • Residence proof
  • CIBIL report
  • Individual ITR covering the last two years, including income computation, trading and P/ L account, and balance sheet
  • bank statements from the previous six months

How to Apply for Leap Finance Education Loan

Follow the steps mentioned below to apply for the Leap Finance education loan:

Step 1: Check your eligibility on the official website of Leap Finance

Step 2: If you are eligible, apply for the loan by filling out the online application form.

Step 3: Fill out all the necessary details and submit the form online along with the required documents.

Step 4: After submission, the Leap Education will take up to 3 working days to evaluate and get back to you with further details.

FAQs

  1. What are the documents a student needs to submit while applying for the Leap Finance education loan?
  2. A student needs to submit Aadhar card, PAN Card, passport, academic certificates (10th, 12th, and higher education), payslips from the last three months and bank statements from the previous six months, if relevant, admission letter, GRE/IELTS/TOEFL scores, passport size photo, and credit report, while applying for the Leap Finance education loan.

  3. Is there any margin amount required while applying for the Leap Finance education loan?
  4. No, there is no margin amount required while applying for the Leap Finance education loan.

  5. What is the repayment tenure for the Leap Finance education loan?
  6. The repayment tenure for the Leap Finance education loan is 3 years.

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