Overview : Avanse Financial Education Loan Online
Non-banking financial service provider Avanse Financial offers education loans to students who want to pursue their higher studies either in India or abroad. They deem that young adults need to expand their horizons and not limit their learning abilities. And that is why Avanse education loan for studying abroad is designed keeping all the student requirements in mind.
Avanse financial services education loan for studies abroad covers 1,626 universities, 1,262 colleges, and more than 6,000 courses across 44 countries. They provide pre-visa disbursement loan, pre-admission loan, bridge loan, fast-track loan, score-based benefits, and ensure that the applicant faces no financial issues while studying abroad in order to elevate their career to the next level.
- Avanse Abroad Education Loan - Features and Benefits
- 100% finance, no margin money.
- Flexible options for repayment.
- Express 1-day loan approval for urgent cases.
- Customized education loan solutions.
- Education loan also includes Living Expenses, Caution Deposit/Building Fund/ Refundable Deposit and Travel expenses for students going abroad.
- No defined limit on the loan amount.
- Digital process, when going through GyanDhan.
- Online account management post disbursement of education loan.
|S.No.||Features||Avanse Education Loan Requirements|
|1.||Nationality and Age||Indian citizen of 18 years and above|
|2.||Loan Amount||Minimum: Rs.1 lakh
Maximum: Rs.40 lakh; though it can be increased depending on the fees
|4.||Avanse Education Loan Without Collateral or With Collateral||Both types of loans are offered, based on student’s profile|
|5.||Avanse Education Loan Interest Rate||11.75% to 16%|
|6.||Prepayment||Not allowed for the first 6 months after disbursement, but allowed any time after that, with no penalties|
|7.||Avanse Education Loan Repayment||Minimum Tenure: 12 months
Maximum tenure: 10 years (course duration included)
|8.||Repayment Holiday||For principal payment, 6 months after course completion or 3 months after getting a job, whichever is earlier|
|9.||Processing Fee||Usually 1% of Loan amount + GST, varies|
|10.||Loan Tenure||10 years|
|11.||Processing Time||5 - 7 days|
|12.||Payment during Study Period||Simple Interest or Partial Simple Interest, depending on the student’s profile and the target course|
Low Turnaround Time
GyanDhan gets the Avanse loan approved in 5 days.
To get an Avanse Financial Education Loan approved, you need only upload your documents on GyanDhan’s website. No need to go anywhere physically! What’s more - you get step-wise updates via notifications.
No Cost to You
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 missing documents, property issues or other problems, we approach Avanse Financial officials promptly to find solutions. This ensures speedy resolution and significantly increases your odds of approval.
Apply Online & Upload Documents
Processing & Approval
Free Doorstep Document Collection
Loan Sanction & Disbursal
GyanDhan provides a customized documents list for Avanse Financial Education loans, which depends on your profile, your co-applicant’s profile and any property/asset, which you may offer as collateral. At a high level, the following documents are needed.
Applicant’s Documents Pertaining to:
- Identity Proof
- Past Academic Record
Co-Applicant’s Documents Pertaining to:
- Identity Proof
After evaluating your profile, GyanDhan will present you with a customized documents’ list and then initiate the loan process with Avanse Financial Services. If some documents are missing, then we will suggest alternatives to get your loan sanctioned on time.
Q. What is the maximum loan amount one can get for overseas studies?
Easily up to INR 40 Lakhs (Without Collateral) and INR 80 Lakhs (With Collateral), which can be increased as per course fee, country, and co-applicant income, etc.
Q. What is the interest rate on Avanse education loan?
Typically for US, it’s between 11.75% to 14%, and for other countries, it’s between 13% and 16%, depending on the college/university applied to.
Q. What is the tenure of an Avanse education loan?
The tenure of an Avanse education loan is up to 10 years.
Q. Is the loan disbursed in favour of the borrower or the institute/college/university?
Tuition fees and on-campus housing fee is transferred to the university, whereas other living expenses are transferred to the borrower’s account.
Q. Is there a margin on Avanse education loans?
No. Avanse covers 100% of student’s expenses.
Q. Do education loans have any Income Tax benefits?
No, education loans do not have tax benefits if taken from NBFCs like Avanse.
Q. Is there a prepayment penalty on Avanse education loans?
No penalty on prepayment after 6 months of disbursement.