Buddy4Study-Propelld Domestic Education Loan Programme is a joint initiative of Buddy4Study and Propelld to provide financial backing to deserving students who are pursuing or are willing to pursue higher education in India. Under this programme, the students will be offered education loan amount up to INR 10 lakh to pursue their undergraduate and postgraduate studies in India.
- Students should be studying in or applying to undergraduate and postgraduate programs in India in the current academic year 2023-24.
- Students should have secured at least 60% marks in Class 10, Class 12 and Bachelor’s courses.
- Applicants should be studying in universities and colleges accredited by NAAC. (Note: All NIRF ranked colleges and universities not yet accredited by NAAC are also eligible. Additionally, UGC/AICTE approved colleges and universities which are not in NAAC accredited list or NIRF rank list and are present in reputed ranking lists such as Times, India Today are also eligible.)
- The paying party for the applicant should be able to take the loan and should not be greater than 60 years of age at the time of loan maturity and the minimum age of the paying party is 21 years.
- Applicant (Parent/Student) needs to either be a New-To-Credit person or should have a good credit history.
- Students and their families should be permanent citizens of India.
For Students enrolled/seeking enrolment in UG/Bachelor’s Program:
Loan amount ranging from INR 50,000 To INR 10 Lakh will be provided to selected students at an interest rate ranging between 12-18% (Avg 14%) with tenure range between 6 months to 84 months.
Note:
- Long-term Non-moratorium Loan will be provided only to 3rd and 4th-year students.
- Long-term Moratorium Loan will be provided to final-year and pre-final year Bsc/ Btech Computer Science/ IT/ Electronics students.
- Repayment will start immediately from the very next month.
- The repayment will be done in equated monthly instalments. However, during the Moratorium period simple interest will be payable monthly.
For Students enrolled/seeking enrolment in PG/Masters Program:
Loan amount ranging from INR 1.5 Lakh To INR 10 Lakh will be provided to selected students at an interest rate ranging between 12-18% (Avg 14%) with tenure range between 6 months to 84 months.
Note:
- Long-term Non-moratorium Loan will be provided.
- In exceptional cases for meritorious candidates, moratorium loans can also be offered.
- Repayment will start immediately from the very next month.
- The repayment will be done in equated monthly instalments.
- KYC Documents of Applicant and Co-applicant (PAN and Aadhar)
- Income proof (salary slips/ ITR/ bank statements/ income certificate)
- Class 10, Class 12, Bachelor’s Marksheet (as applicable)
- Profession of parent
- Proof of admission and fees in the educational institute for PG/UG program
- Any other documents that are required on case to case
- Click on the ‘Apply Now‘ button below.
- Login to Buddy4Study using a registered ID to land on the ‘Online Application Form Page.’
- If not registered – Register at Buddy4Study with your Email/Mobile number/Gmail account
- You will now be redirected to the ‘Buddy4Study-Propelld Domestic Education Loan Programme‘ application form page.
- Click on the ‘Start Application’ button to begin the application process.
- Fill in the required details in the online application form.
- Upload the required documents.
- Accept the ‘Terms and Conditions’ and click on ‘Preview.’
- Review the preview screen to ensure that all the filled-in details are correct.
- If all the details appear correctly, click on the ‘Submit’ button to complete the application process.
