- Open for Indian students who received admission confirmation or are pursuing post-graduation in India or abroad
- 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 ₹ 3 Lakh per annum (not necessary for loan requirement below ₹ 7.5 Lakh)
- The loan amount required should be more than ₹1 Lakh
The candidates applying for Education Loan will get the following benefits –
- Collateral-free* loan amount of up to ₹ 40 Lakh (minimum loan amount of ₹ 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 ₹ 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.)
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 Card/NREGA Job Card of parent/s, etc.)
- Admission proof (College ID card/admission letter/ bonafide letter from institute)
- Fee structure document
- Click the ‘Apply Now’ button below.
- 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.