EduFi is an educational financing mobile application, licensed by SECP to provide Pakistan’s first Study Now, Pay Later (SNPL) digital platform to the 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: [email protected]
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)