Introduction to EduFi Loan App
Education is the foundation of a successful future, but financial constraints can often become a roadblock. EduFi Loan App is Pakistan’s first Study Now, Pay Later (SNPL) digital platform, offering an innovative solution for students and parents. Licensed by SECP (Securities and Exchange Commission of Pakistan), this application allows users to apply for subsidized education loans directly from their smartphones.
Key Features of EduFi Loan App
- 100% Digital Loan Process – Apply from anywhere, anytime.
- Licensed by SECP – Secure and regulated financing option.
- Flexible Repayment Plans – Choose a tenure from 3 to 12 months.
- No Collateral Required – Get an education loan without any security deposit.
- Multiple Payment Methods – Convenient repayment options for borrowers.
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Benefits of Using EduFi for Education Loans
1. Cheapest Education Financing Option
EduFi provides one of the most affordable education loan solutions in Pakistan, making quality education accessible to everyone.
2. No Collateral Requirement
Unlike traditional bank loans, EduFi does not require collateral, making it easier for students and parents to secure financing.
3. Quick Processing and Approval
With a fast and hassle-free approval process, users can get their loans sanctioned quickly.
4. Easy and Flexible Monthly Installments
Borrowers can choose custom repayment plans that best suit their financial situation.
5. Multiple Payment Methods
EduFi supports various payment options, including debit/credit cards, 1BILL (1LINK) methods, internet banking, and over-the-counter payments.
EduFi Loan Details
Loan Amount and Tenure
- Minimum Loan: PKR 50,000
- Maximum Loan: PKR 2,000,000
- Loan Tenure: 3 to 12 months
Interest Rate and APR Details
- Annualized Interest Rate: 16.98% per year
- Maximum APR: 30%
No Hidden Fees or Late Charges
- No Late Payment Fees
- No Processing Charges
- Transparent Loan Terms
Example Calculation of EduFi Loan for PKR 100,000
If you borrow PKR 100,000 for 12 months, here’s how your repayments will look:
| Description | Amount (PKR) |
|---|---|
| Loan Amount | 100,000 |
| Tenure | 12 months |
| Monthly Service Charge | 1.415% |
| Monthly Service Charges | 1,415 |
| Total Monthly Payment | 9,748 |
| Total Service Charges | 16,980 |
| Total Repayment Amount | 116,980 |
How to Apply for an EduFi Loan?
Applying for an EduFi loan is simple and quick. Follow these steps:
- Download the EduFi App from the Google Play Store.
- Register using your CNIC number and create an account.
- Fill out your loan application with personal and employment details.
- Upload the required documents for verification.
- Loan Approval & Disbursement – Once approved, funds are transferred to your account.
How to Repay Your EduFi Loan?
EduFi provides multiple repayment options, including:
- Debit/Credit Cards
- 1BILL (1LINK) Methods (Internet Banking, Mobile Wallets, Bank Counter Payments)
Confidentiality and Data Security
EduFi ensures that all personal data remains confidential. Your information is only used for loan evaluation and repayment communication. No data is shared with third-party entities.
EduFi Loan App Customer Support
- Operational Hours: 8:00 AM to 7:00 PM
- Corporate Name: EduFi Financial Services Private Limited
- Helpline (Phone/WhatsApp): +92 311 1133834
- Email: support@edufi.tech
- Address: 39-Empress Road, Lahore, Pakistan
- Website: EduFi Official Website
- License No: SECP/LRD/147/EFSPL/2023-55
- License Type: NBFC (Non-Banking Finance Company)
About this app
EduFi is an educational financing mobile application, licensed by SECP to provide Pakistan’s first Study Now, Pay Later (SNPL) digital platform to Parents and Students. Now, they have the convenience of applying for subsidized education loans directly through their mobile phones, accessible from any location in Pakistan at any time.
Advantages:
Cheapest Education Financing Option
No Collateral Required
Quick Processing Time
Easy And Convenient Monthly Installments
Multiple Payment Methods
Details of the Loan are:
Loan Amount: PKR 50,000 to 2,000,000
Loan Tenure: From 3 months to 12 months
Annualized Rate (Effective interest rate): 16.98% per year which is equivalent to 30% APR (Annual Percentage Rate)
Maximum APR (Annual Percentage Rate): 30%
No Late Fee
No other Fees
No Hidden Charges
An example of EduFi Financing:
Charges for the calculation of a PKR 100,000 for a tenure of 12 months:
Loan Amount: PKR 100,000
Tenure: 12 Months
Repayment Frequency: Monthly
Annualized Rate (Effective interest rate): 16.98%
APR(Annual Percentage Rate): 30%
Monthly Service Charge Percentage: 16.98/12 = 1.415%
Monthly Service Charges: 100,000 * 1.415% = PKR 1,415
Total Monthly Payment: 100,000 / 12 + 1,415 = PKR 9,748
Total Service Charges: 100,000 * 1.415% * 12 = PKR 16,980
Total Repayment Amount: 100,000 + 16,980 = PKR 116980
How to Apply:
Download the app from the online store on your mobile device.
Register using your CNIC number.
Fill in your application with personal information, employment information and submit required documents.
Once approved, funds are disbursed from EduFi App.
How to Repay:
EduFi offers multiple repayment options, you can pay using,
Debit/Credit Cards
All supported 1BILL (1LINK) methods such as internet banking, mobile wallets and over the bank counter payments.
Confidentiality of Personal Data:
We utilize your personal details solely for the purpose of validating your loan request. Communication from our side will be limited to loan evaluation or loan repayment interactions. Rest assured, your information remains confidential, as we do not disclose it to any external entities. Your privacy and data security are our top priorities.
Our Contact Information:
Operational Hours: 8:00 AM to 7:00 PM
Corporate Name: EduFi Financial Services Private Limited (Corporate Unique Identification Number: 0247877)
Helpline Number (Phone/WhatsApp): +92 311 1133834
Email Address: support@edufi.tech
Address: 39-Empress Road, Lahore, Pakistan
Website: https://www.edufi.tech/
License No: SECP/LRD/147/EFSPL/2023-55
Type and Category of License: NBFC (Non-Banking Finance Company)
FAQs about EduFi Loan App in Pakistan
How long does it take for EduFi to approve a loan?
EduFi typically approves loans within a few hours, provided all documents are submitted correctly.
What happens if I miss a payment?
EduFi does not charge a late fee, but missing payments can affect your future borrowing ability.
Can EduFi loans be used for all types of educational institutions?
Yes, EduFi loans are applicable for schools, colleges, universities, and professional courses.
Are there any penalties for early repayment?
No, EduFi does not charge any penalties for early loan repayment.
Is EduFi available for international students?
Currently, EduFi loans are only available for Pakistani students.
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