Overview : Auxilo Education Loan Online
Founded in 2017, Auxilo, a pro-education NBFC, is another option for study abroad education loans for students. In partnership with GyanDhan, Auxilo offers loans for foreign education covering living and other expenses too. Auxilo assesses students on the basis of more than 15 parameters and offers customized education loan options for countries like US & Canada. What's more? We can also help you in getting an Auxilo Education Loan for study abroad even before admit on the basis of your academic profile.
- Auxilo Abroad Education Loan - Features and Benefits
- No Margin Money - A significant advantage of Auxilo education loans is that there is no margin money unlike education loans from private and public sector banks. Margin money is the money that borrowers need to pay themselves; the remaining amount is paid by the lender. This means that Auxilo Abroad Education Loan will provide a 100% coverage of expenses apart from tuition fees including accommodation, travel costs and Caution Deposit/Building Fund/ Refundable Deposit. Therefore, you will not have to shell out a penny from your pocket while financing your education and related costs.
- Flexible Repayment Options - The repayment terms and conditions of an Auxilo Education Loan are flexible and can be altered to suit the customers’ needs. If you are looking for an education loan that perfectly suits your requirements, get in touch with GyanDhan. We take heed of your requests, let them known to the Auxilo team, and offer you the best deals which align with your needs.
- Express Approval in the Cases of Urgency - With GyanDhan, you can get your loan application approved in only two working days. In urgent cases, wherein, for example, you have a short deadline to get your loan approved, remit the fee, or get your VISA, you can approach GyanDhan with your concerns, and we will ensure that your loan is sanctioned before time.
- Customized Education Loan Solutions to Suit Customers’ Needs - You can get your education loans customized i.e. tenure, payment during the moratorium period, disbursal from Auxilo to suit your specific needs.
- Digital Process Facilitated through GyanDhan - For Auxilo Education Loan for studying abroad, our online document upload facility helps you to submit all the documents for loan application online from the comfort of your home. This saves your energy, time, and expenses and also keeps you away from the ordeal of handling volumes of paperwork physically.
- Online Account Management Post Disbursement of Education Loan - After the Auxilo education loan is disbursed, You can get detailed summary of all your transactions, interest and EMI payments, and so in an online account. This not only helps you keep an organized and coherent record of the transactions but also ensures transparency. GyanDhan’s assistance does not end only with the sanction of loan. We are there for you till the end of the process ensuring all disbursements from Auxilo take place easily.
|S.No.||Features||Auxilo Education Loan Details|
|1.||Loan Amount||Maximum: INR 40 lakh for Auxilo unsecured education loan and INR 1 crore for secured loan. However, case-level exceptions are possible.|
|2.||Auxilo Education Loan Interest Rate (ROI)||12.70% p.a -18% p.a.(depending upon individual profiles); Floating in nature|
|3.||Processing Fee||1% to 2% of loan amount sanctioned|
|4.||Margin Money||0; they can fund up to 100% of the expenses|
|5.||Loan Tenure||Up to 10 years|
|6.||Prepayment Charges||As applicable or as per the RBI guidelines|
|7.||Auxilo Education Loan Repayment Holiday||None (One can start repaying the principal amount after 6 months of course completion or once one gets a job, whichever is earlier. Till then, the simple /partial interest needs to be paid)|
|8.||Processing Time||5 days|
|9.||Payments During Study Period||Yes, Simple/ Partial interest|
|10.||Countries Covered||US, UK, Canada, Germany, France, Ireland|
Benefits of taking Auxilo Education Loan for Abroad Studies
Low Turnaround Time
With GyanDhan, Auxilo Education loan processing takes less time thus ensuring a speedy approval of your loans from Auxilo in 5 days.
Online Document Submission
The GyanDhan online document upload facility allows you to submit the documents from the comfort of your home and get your loan approved. No need to physically go to the NBFC to submit documents! Also, we will send you notifications to keep you in the loop about the step-wise updates.
No Cost to You
You can avail our aforementioned services absolutely for free! We do not charge commissions or processing fees from the applicants at all.
Higher Chances of Approval
We approach Auxilo officials immediately in the cases of delays, missing documents, or other problems. This makes sure that the problems are resolved quickly, and the loan is approved immediately.
Apply Online & Upload Documents
Free Doorstep Document Collection
Processing & Approval
Loan Sanction & Disbursal
- Apply Online and Upload Documents
- First off, to know if you are eligible for a loan from Auxilo, click here. You could also request a call back here.
- Our team of dedicated education loan counsellors will get in touch with you to discuss your financing needs and suggest you suitable loan options.
- Upon critical evaluation of your profile, we will suggest you the appropriate steps to be taken to avail a loan from Auxilo.
- Next comes the crucial step, that is, the submission of the relevant documents. Since GyanDhan has an online facility for document upload for Auxilo, you can easily submit the documents from the comfort of your home.
- Additionally, GyanDhan prepares a customized list of documents for you on the basis of your profile and loan applied for. This way, you have an exact record of the documents to be submitted which speeds up the documentation process.
- Our loan counsellor will help you while you submit the documents. We will ensure that you submit all the required documents at one go. In this way, not only will the chances of loan approval will increase, but the processing of loans will also speeden up.
- Apart from the online document upload facility, you can also avail Auxilo’s doorstep document collection facility. For tier-1 and some tier-2 cities, Auxilo can collect documents from your home. If you want to opt for this facility but are confused if this option is applicable to your city, get in touch with GyanDhan for guidance.
- We forward your loan application along with the documents to Auxilo for evaluation and real-time approval.
- We regularly follow up with Auxilo to know the status of your application and also ensure that the processing is expedited. You can check the real-time status on GyanDhan’s website.
- Applicants may note that during this stage, they may be contacted by the lender to furnish more proof in support of their loan application. These requirements will be communicated to the applicants via GyanDhan. Also in the case of any unreasonable demand, we raise it to Auxilo’s concerned authority.
- Once the documentation and application is deemed as free from loopholes, the loan is approved and is ready for sanction.
- The student will then have to pay the processing fees to get the sanction letter.
- After receiving the sanction letter, the student and co-applicant will be required to put their signatures on the loan agreement within the validity period of the sanction letter, that is 6 months.
- After signing the agreement, the student becomes eligible for the disbursement of the loan.
- The lender will transfer the stipulated amount of money to your bank account or the university/college. In case, the student needs the disbursal before visa as per the requirements of the visa office , we talk to the Auxilo team and get it done.
- GyanDhan will also see to it whether the disbursals are being made on time.
- Students can reach out to GyanDhan anytime during the tenure of the loan for any help.
GyanDhan offers a customized list of necessary documents for Auxilo Education Loan as per your and co-applicant’s profile and property/asset offered as collateral. The following documents are required at a high level:
Applicant’s Documents Pertaining to:
- KYC documents like Aadhar, PAN card
- Academic documents like SSC, HSC, Graduation, etc.
- A valid passport
Co-Applicant’s Documents Pertaining to:
- Basic KYC documents like Aadhar and PAN card
- Income documents like pay-slips, Form 16/ITR,
- Bank Statements
GyanDhan will critically evaluate your profile and generate a customized list of documents which you will be required to submit along with your loan application. Right after, we will commence with the loan process with Auxilo. We will also suggest alternatives in case some documents are missing to expedite your loan approval process.