Name: Avanse Education Loan
Brand: GyanDhan

Avanse Education Loan for Abroad Studies

All you need to know about Avanse education loan for studying abroad

Anam Shams

Anam Shams is a seasoned professional in the study abroad field with deep knowledge of admissions and loans. With a passion for helping aspiring students fulfill their academic dreams, Anam...

Reviewed By: Aman

Aman Jain graduated from IIT Kanpur, and currently functions as the CMO at GyanDhan. He is deeply passionate about creating equality in higher education and has directly interacted with 2 Lakh...

Overview

Avanse Financial Services is a Non-banking Financial Company (NBFC). They offer education loans to students who want to pursue their higher studies in India or abroad. The company offers customized loan solutions for a wide range of courses and universities and aims to make the loan application process as smooth and hassle-free as possible.
Avanse financial services education loan for studies abroad covers 2000+ universities and colleges, and 27,000 pre-approved courses across 50+ countries. They provide pre-visa disbursement loans, pre-admission loans, bridge loans, fast-track loans, and score-based benefits, and ensure that the applicant faces no financial issues while studying abroad to elevate their career to the next level.

Overview of the Avanse Abroad education loan

Feature	Description
Loan amount	Up to INR 75 Lakh
Rate of interest	10.75% - 13.0%
Processing fees	1 - 1.5%
Processing time	7-10 days
Margin money*	nil
Moratorium period*	Course duration + 1-year
Repayment tenure	15 years

*Moratorium period is the time duration during which you are not required to make payments toward your education loan.
*Margin money refers to the amount of money that a borrower is required to contribute towards the loan, while the remaining amount is paid by the lender.
Avanse Financial Services offers both secured and unsecured loans for study-abroad students. One of the unique features of Avanse is its customer-centric approach. Please note that if you are applying for a Bachelor’s course then the collateral is mandatory.

Avanse education loan eligibility criteria

Age

The applicant must be at least 18 years of age or older at the time of application. The student should have secured admission to a recognized university.

Academic performance

The applicant should have a good academic record and must meet the minimum academic criteria set by the lending institution. Also, the student must appear for the required tests such as GRE, IELTS, or TOEFL. Please note for the US, GRE plays a vital role in securing an education loan.

Co-applicant

The loan applicant must have a co-applicant, who could be the applicant’s mother, father, sister, brother, spouse, paternal or maternal relative, or a legal guardian, with a regular source of income and good credit history.

Course and country of study

Under this scheme regular graduate degree/post-graduate degree/diploma/certificate/doctorate courses in any discipline offered by foreign Institutes/Universities in the USA, UK, Canada, Australia, New Zealand, France, Germany, Ireland to name a few will be covered under the scheme.

Avanse education loan for the US

Feature	GRE >= 310	GRE 300 - < 310	GRE 285 - < 299
Avanse education loan interest rate	12.25 - 12.75%	12.75% - 13%	13 - 14%
Loan amount	Up to INR 50 Lakh	Up to INR 40 Lakh	Up to INR 35 Lakh
Co-applicant minimum income	INR 30K	INR 35K	INR 35K
Monthly installments during the course	Partial simple interest	Partial simple interest	Simple interest
Processing fee	1%	1%	1%

Avanse education loan for other countries

Feature	Australia / New Zealand	Canada	UK	Germany/Ireland/France/Italy
Avanse education loan interest rate	12.5 - 12.75%	12.5 - 13%	12.5 - 13.5%	12.5 - 13.5%
Loan amount	INR 40 Lakh	INR 20 - 25 Lakh	INR 40 Lakh	INR 20 Lakh
Co-applicant minimum income	INR 35K	INR 35K	INR 40K	INR 40K
Monthly installments during the course	Partial simple interest	Simple interest / Partial simple interest	Simple interest / Partial simple interest	Simple interest
Processing fee	1%	0.75 - 1%	0.75 - 1.25%	1 - 1.5%

Note:

Avanse Financial Services charge a mandatory credit life insurance premium that is around 1.25 - 1.5% of the loan amount.
An optional overseas health insurance premium of approximately INR 40K is also charged by Avanse.

Documents required for education loan by Avanse

GyanDhan provides a customized documents list for education loans, depending on your profile, and your co-applicant profile.

Applicants' documents

Identity proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.
Education loan application form.
Address proof: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill/ driving license/ Aadhaar card.
Passport.
Past academic record.
- 10th standard mark sheet
- 12th standard mark sheet
- Undergraduate result (semester-wise)
Entrance exam results (e.g. GMAT, GRE, TOEFL, etc.)
Proof of admission: admission letter (A conditional admission letter is also applicable).
Statement of expenses.
2 passport-size photographs.
Loan A/C statement of one year (if applicable).
Bank account statement of the student (if applicable).

Co-applicant’s documents

Identity proof: PAN/ Passport/ Driver’s license/ Voter ID card or government-issued identification document.
Address: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill or copy of passport/ driving license/ Aadhaar card.
2 passport-size photographs.
If any previous loan is from other banks/ lenders, then the loan A/C statement of 1 year.
Legal documents of the collateral/ property documents.
Bank account statement of the co-borrower/guarantor, for the last 6 months (in case of takeover of education loan).

Income proof for salaried co-applicant/guarantor

Salary slips for the last 3 months
Copy of Form 16 of the last 2 years or copy
Bank account statement for the last 6 months (Salary account)
Brief statement of assets & liabilities of parent/ guardian/ other co-borrower

Income proof for self-employed co-applicant/ guarantor

Business address proof
Last 2 years IT returns (If IT Payee)
TDS certificate (Form 16A, if applicable)
Certificate of qualification (for C.A./ doctor and other professionals)
Brief statement of assets & liabilities of parent/ guardian/ other co-borrower
Bank account statement for the last 6 months

How to contact Avanse for an education loan?

To contact Avanse for study abroad-related inquiries, you can use the following methods-

Email - You can get in touch with Avanse over email. Send an email to Avanse's customer support team at [email protected]. Include all relevant details about your profile, and they will provide a response tailored to your needs.
Online application form - You can complete an online application form at the Avanse website (https://www.avanse.com/). Later, Avanse will evaluate your profile and proceed with the necessary steps.
Branch visits - For a more personal approach, you have the option to visit the nearest Avanse branch in your city or locality. Avanse's head office is situated in Mumbai, and they have additional offices in various cities across India, including Bangalore, Delhi, Ahmedabad, Chennai, Hyderabad, and Chandigarh.

If you prefer a more convenient approach and want to avoid the hassle of physically visiting branches and dealing with complex application forms, you can apply for an education loan through GyanDhan, an education financing platform that specializes in assisting students in securing funds for their higher education abroad. Our dedicated counselors will carefully evaluate your profile and recommend the most suitable lenders for your specific loan requirements. Furthermore, our expert counselors will provide ongoing support throughout the loan process and will be readily available to address any concerns or challenges that may arise. To assess your eligibility, you can click here.

Benefits of getting your Avanse education loan through GyanDhan

Guaranteed best product

At GyanDhan, we are committed to providing you with the best education loan in the market. Our aim is to secure the best deal possible for you. However, if you come across a better offer elsewhere, we will cover the difference in interest rates for the ENTIRE duration of your education loan.

Low turnaround time

GyanDhan officials coordinate with various departments within Avanse Finance and escalate the process and get a loan approval in just 5-7 days. This is why thousands of students trust us with their loan requests every year. If a student applies directly to the NBFC, the usual loan processing time is around 10-12 days.

100% Free of cost services

GyanDhan’s services for applicants are absolutely free. We do not charge any kind of processing fees or commissions from the applicants at all.

Higher chances of approval

In case of any hurdles regarding documentation or application, GyanDhan intervenes and resolves the problem by coordinating with the officials at Avanse.

Hassle-free process

If you directly apply for an Avanse education loan you might face several challenges but with GyanDhan all you need to do is check your eligibility at GyanDhan’s website and if you are eligible then all you need to do is relax because you will be assigned a dedicated education loan counselor.

How to apply for an Avanse education loan via GyanDhan

If you are looking to obtain an education loan from Avanse, you can apply online through their website. However, for a hassle-free and fast application process, you can apply for your education loan through GyanDhan.

GyanDhan is an online platform designed to assist Indian students in financing their education abroad and can help you get your education loan approved in just four uncomplicated steps.

The GyanDhan effect in Avanse education loan

Feature	With GyanDhan	Without GyanDhan
Personalized document checklist according to profile & area	Yes	No
Branch visits	0	3-4
Pre-visa disbursements	Easy	Difficult

GyanDhan's Impact Stories

Empowering students to overcome education loan obstacles

Defying the Odds: How a Student with Poor Credit Score Secured an Education Loan

A student had been applying for an education loan through various lenders, such as HDFC Credila and Auxilo, but was declined by all due to their poor credit score. Fortunately, their fortunes took a turn for the better when they came to GyanDhan, and we were able to secure their education loan through Avanse, even without an offer letter from the university. Given the student's financially weaker background, we also negotiated with the bank on the processing fee. Eventually, the student paid a portion of the processing fee upfront and the rest after receiving their admission letter.

From Rejection to Success: How a Student with Backlogs Secured an Education Loan

A student with over 5 backlogs during their graduation was facing difficulties securing a loan due to the lack of collateral or a co-applicant. Despite applying to multiple banks and NBFCs, they were rejected by more than 3 institutions. Fortunately, the student reached out to Gyandhan, who connected them with Avanse. Based on the student's bank statement and GRE score of 304, the loan was successfully sanctioned and disbursed to the customer.

Meeting Urgent Education Funding Needs in a Tight 5-Day Window

The customer, faced with an imminent deadline of paying university fees within 5 days, approached us with a pressing requirement for an education loan. This tight timeline left no room for delays. Despite the challenges posed by the UK country context and the co-applicants' constrained income coupled with pending loans, we were resolute in our determination to assist. We expedited the process by promptly connecting the customer with Avanse. In 3 days, we secured a loan sanction aligned with the customer's urgent timeline. Subsequently, we streamlined the disbursement process, ensuring the customer had the necessary funds in due time. As a result, the customer successfully paid their university fees on the 5th day, as required.

Our Customers. Our Asset

Vaibhav Desai

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Yugali Gullapalli

University of Wisconsin-Madison , USA

Yugali shares the excerpts from her journey's story of pursuing MS in Computer Systems and Networking, Wisconsin-Madison US. She wanted global exposure and thus chose to study abroad. She describes how she was facing issues with the spe...

Ganga Barani

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Read how Ganga Barani planned his MS from the SUNY Buffalo US. While working as a software developer at a product-based MNC, he yearned for seeing the world and made his mind to study abroad. In his story, he also tells GyanDhan came as...

Abhishek Kumar

Purdue University, USA

Graduation from NIT Nagpur and then 4 years in TCS Mumbai, Abhishek's study abroad journey is an interesting tale of planning, preparing, and finally pursuing MS from the Arizona State University. His recollects how he successfully plan...

Pradeep Shekhar

University of California, USA

A graduate of IIT Madras, Pradeep Shekhar went on pursue Masters in Communications and Signal Processing from University of California, Santa Barabara. Pradeep revisits his journey to UCSB from IIT Madras and also shares how GyanDhan he...

Hemalatha Jayakrishnan

Rochester Institute of Technology, USA

To steer up the career opportunities while working at Hindustan Aeronautics Limited (HAL), Hemalatha Jayakrishnan decided to pursue abroad education. She went on to do MBA from Rochester Institute of Technology, United States. Hemalatha...

Ashutosh Sharma

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Discontented by his career growth, Ashutosh Sharma decided to give his career a major boost and went on to pursue MS in Business Analytics from The University of Utah. Ashustosh describes his study abroad journey and also recollects how...

Deepa Krishnakumar

University of Auckland, New Zealand

Deepa was in the academic world working as an assistant professor when het peer group and seniors suggested her about the quality education and career opportunities of abroad education. In her story to the University of Auckland, New Ze...

Akash Kashyap

Arizona State University, USA

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