Buddy4Study Education Loan 2024: This Education Loan Programme is an initiative of Buddy4Study in partnership with multiple education loan providers (Banks & NBFCs) in order to extend financial support to aspiring students who have secured admission into higher educational institutions located in India and abroad.
Under the programme, the students are offered collateral-free* education loan up to ₹40 lakh to pursue their higher studies at an institution of their choice. The rate of interest applicable under Buddy4Study Education Loan Programme starts from 8.1% depending on the categories of institutes and selection of courses.
Eligibility Criteria:
Open for Indian students who have secured confirmation of admission for pursuing UG/PG programmes in India
Must have been admitted to the desired institution after having completed the pre-requisite qualification criteria
Annual family income of the applicant should be more than ₹ 3 lakh per (Family income criteria is not a necessary requirement for loan amount below ₹ 7.5 lakh)
Application for requirement of loan amount should be more than ₹1 lakh.
Benefits
The candidates applying for education loan will receive the following benefits:
- Collateral-free* loan amount up to ₹ 40 lakh (Minimum loan amount should be ₹ 1 Lakh)
- Education loan interest rates start at 8.1% p.a.*
- Provision for easy and fast loan sanction via a seamless application process
- Education loan up to ₹2 crore is available with collateral*
- 100% income tax benefit apply for interest paid under Section 80E of the IT Act
The education loan amount would include the following expenditures incurred in pursuing the course:
1. College-related Expenditures:
- Tuition and fees payable to the institute
- Examination/library/laboratory fees
- Purchase of books/equipment/uniform
- Living expenditure including hostel fee
2. Additional Expenditures:
- Travel expenses
- Purchase of computers/laptops
- Cost incurred on overseas travel insurance
- Cost incurred on health insurance
(Note: Special consideration will be given to students pursuing professional courses from NIRF or top educational institutions with lesser interest rate applicable depending on selected course and institution including quick loan disbursal, etc.)
Documents Required:
The following documents must be uploaded by the applicant at the time of application:
- Recent passport-size photograph
- Address proof (Aadhaar Card/Driving License/Passport/Voter ID/NREGA Job Card of parent(s), etc.)
- Admission proof (College ID/Admission Letter/Bonafide Letter from the Institute)
- Documents on fee structure.
READ ALSO: Tata Scholarship 2024: Rs 1 Lakh Scholarship, Eligibility, Apply Now.
Application Process:
Click the ‘Apply Now’ button below.
Login to Buddy4Study with your registered ID and land onto the ‘Application Form Page’.
If not registered on Buddy4Study – Register at Buddy4Study with your Email/Mobile/Gmail account.
You will now be redirected to the ‘Buddy4Study Education Loan programme’ application form page.
Click on the ‘Start Application’ button to begin the application process.
Fill the required details in the online application form.
Upload relevant documents.
Accept the ‘Terms and Conditions’ and click on ‘Preview’.
If all the details filled in by the applicant are correctly showing on the preview screen, click on the ‘Submit’ button to complete the application process.
READ ALSO: Maulana Azad Education Loan 2024: Get ₹5,00,000 Loan, Check Eligibility, Interest Rate.
Contact Details:
In case of any queries, please reach out to: 011-430-92248 (Ext: 123) (Monday to Friday – 10:00AM to 06:00 PM (IST))eduloan@buddy4study.com.
Apply Link – Click Here
Homepage – nspstatus.in
I am Zahid Sheikh With 3 Year of Experience in Writing Content About Scholarship, Education. With Masters in English Literature, I love to to write digital content about Government Scholarship Schemes.