Why take an Education Loan?
At Avanse we deliver the best in class education loan product not only at competitive pricing but also keeping in mind many other benefits that students can take advantage of. The approach we possess is student oriented so that the desired outcome is derived. We always promote a two way communication and hence are always available for all student related queries and encourage the same to our students as only then their queries could be addressed keeping the process transparent not just with providing the educational loan alone but through their entire process. Regular webinars are conducted with a motive to guide students and provide a holistic view of universities, courses and country of visit. We understand young aspirations and would be proud if we could lend a helping hand to achieve what they have always dreamt about.
100% coverage: An Avanse education loan means we completely fund your course fee + living expense during your period of study, as well as guarantee timely payment to the institute. This also means Zero margin money.
No limit on the Education Loan amount: We pay your course fee, whatever it is.
Sensitive Solutions: We understand that each student, or university or curriculum or country may not necessarily have the requirements. Which is why we provide customized solutions with flexibility in loan structuring.
At-Your-Door Services: At Avanse you don’t even need to visit us. We will visit you and hand-hold you through your entire documentation, through our hassle-free and transparent process.
Responsible Borrowing: We care for our customers. While we hand-hold you through the loan process, we also insist on instilling a sense of responsible borrowing to the students by highlighting the importance of maintaining a good credit history.
Great Lineage: Avanse is proud of its mother company, and the fact that it is an associate company of Dewan Housing Finance Corporation Limited (DHFL). DHFL revolutionized the way finance was looked upon in the real estate sector and is today one of India’s largest housing finance companies in the private sector. Avanse understands the intricacies finance and borrowing because we retain in our DNA the pool of experience from our association with DHFL.
Assured Quality: With Avanse be assured that your funding is from a secure and credible source. We take pride in the fact that the International Finance Corporation (IFC), an arm of the World Bank, holds 20% equity stake in Avanse. We are a Non-Banking Finance Company (NBFC), regulated by the Reserve Bank of India.
Total Student Support: Lack of funds should be the last reason to further your dream of higher education. At Avanse we take pride in the fact that we have nurtured and financed meritorious students, who would have foregone a confirmed admission due of lack of funds.
Intelligent partnership: Avanse has collaborated with the cream of institutes, universities and consultants. We care for every student in India and wish to build initiatives that drive educational excellence such that both the student as well as the institute benefit.
At Avanse, competent advice, industry experience, door-step services and a loan sanction process almost as fast as pizza delivery!
What is the current rate of interest on education loan in India?
The rate of interest across the country for education loans range from 10% to 16.50%. However the rate of interest may vary bank to bank or any other financial institution or NBFC. The main components which are the deciding factors when it comes to the rate of interest are weather the loan provided is secured or unsecured. Unsecured loans have a higher rate of interest as the risk of repayment is higher since there is no security; however secured loans have a lower rate of interest. Thus many firms ask for collateral while providing education loans in India. The rate of interest that Avanse provides education loans at is 12.75% and may increases cases to case basis. Education loans have helped the young guns of our country to pursue their aspirations and reach soaring heights
How to apply for education loan?
Education loan across the country of India has become a common phenomenon for students who wish to pursue their higher education abroad. Applying for an education loan requires minimum documents depending bank to bank or any financial institution in question. Education loans have helped several aspiring students across the nation to fulfil their aspirations and dreams to study abroad. All one needs to do is, keep their GRE/GMAT scores in hand, their university admit letter, and their mark sheets. Some institutions and banks require customers to provide their co-borrowers financials such as their IT declarations, income proof’s and if the loan amount is large then their house papers too. Applying for an education loan in India has become simple in comparison to that how it was a few years before. Things have become faster and more streamlined reducing the turnaround time for banks to process these loans
How much education loan can i get?
The amount of education loan that one can provide to students depends totally on the amount required by the student themselves. Education loans cover not just the fees but also any and all other expenses incurred by the student during their tenure of study. These include fees, rent, living expenses, utilities, laptop and other expenses. One can apply for an education loan with nationalized banks, NBFC’s or any financial institution. The loan amount can vary starting right from one lakh to fifty lakhs. This number however may change depending to which of these players one visits. Education loans in India have been disbursed even for the amount of 50 Lakhs and above, but this is purely case to case basis. Some students may require an education loan of more than 50 Lakhs and it is disbursed on the basis of the kind of property one can mortgage or even unsecured (without property/collateral) if the company provides the same.
What are the Documents Required for Education Loan
When we speak about documents when it comes to education loans, all one needs to do is, keep their GRE/GMAT scores in hand, their university admit letter, and their mark sheets. Some institutions and banks require customers to provide their co-borrowers financials such as their IT declarations, income proof’s and if the loan amount is large then their house papers too. With all of this, the bank or the financial institution runs a check on the co-borrowers credit scores and once that is done, the results for the same is notified to the customer