Buddy4Study Education Loan Program: Eligible candidates can get loan of up to Rs 40 lakh to study in India

Buddy4Study Education Loan Program is an initiative of Buddy4Study along with multiple education loan providers (Banks & NBFCs) to provide financial backing to aspiring students who have secured admission into higher educational institutions in India or abroad.

Under the Buddy4Study Education Loan Program, the students will be offered collateral-free* education loan of up to Rs 40 Lakh to pursue their higher studies at an institution of their choice. The rate of interest applicable under this programme starts from 8.1% depending on the institute category and courses.

As part of this education loan programme, students can avail customized repayment plans, flexible tenures and income tax benefits that will help them in financing their academic dreams without worries.

*Conditions apply

Eligibility

• Open for Indian students who received admission confirmation for pursuing UG/PG programme in India
• Should be 18 years old or above on the date of application
• Must be admitted to the desired institution after completion of the pre-requisite qualifications
• Family income should be more than Rs 3 Lakh per annum (not necessary for loan requirement below Rs 7.5 Lakh)
• The loan amount required should be more than Rs 1 Lakh

Benefits:

• The candidates applying for Education Loan will receive the following benefits –
• Collateral-free* loan amount of up to Rs 40 Lakh (minimum loan amount of Rs 1 Lakh)
• Education loan interest rates starting at 8.1% p.a.*
• Provision for easy and fast loan sanction via seamless application process
• Loan of upto Rs 2 Cr available with collateral*
• 100% income tax benefit for interest paid under Section 80E of IT Act

The education loan amount would include the following expenses towards the course:

1. College-related expenses:

Tuition and fees payable to the institute

Examination/library/laboratory fees

Purchase of books/equipment/uniform

Living expenses (including hostel fees)

2. Additional expenses:

Travel expenses

Purchase of computers/laptops

Overseas Insurance

Cost of health insurance

Note: Special consideration for students pursuing professional courses from NIRF/top educational institutions (lesser interest rate depending on course and institution, quick loan disbursal, etc.)

Documents:

• Recent passport-size photograph
• Address proof (Aadhaar Card/Driving License/Passport/Voter ID Card/NREGA Job Card of parent/s, etc.)
• Admission proof (College ID card/admission letter/ bonafide letter from institute)
• Fee structure document

How can you apply?

• Visit the official of Buddy4Study (buddy4study.com) to apply online.

Deadline: 31-Oct-2023