Avanse Education Loan
Get Free Education Loan Assistance from GyanDhan
Interest Rate
Starts @ 12.5%
Processing Fees
0.5% of Loan Amount
Loan Margin
Nil
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.
Features of the Avanse abroad education loan
|
Feature |
Description |
|---|---|
|
Loan amount |
Up to INR 75 Lakh |
|
Rate of interest |
12.5 - 13.5% |
|
Processing fees |
0.5 - 1% |
|
Processing time |
7-10 days |
|
nil |
|
|
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.
Total Interest to be paid
0Total Payment Principal + Interest
0Your EMI per month will be
0Eligibility criteria of Avanse education loan scheme
- 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 |
Description |
|---|---|
|
Loan amount |
Up to INR 75 Lakh |
|
Rate of interest |
12.5 - 13.5% |
|
Processing fees |
0.5 - 1% |
|
Processing time |
7-10 days |
|
Margin money* |
nil |
|
Moratorium period* |
Course duration + 1-year |
|
Repayment tenure |
15 years |
Avanse education loan for other countries
|
Feature |
Australia / New Zealand |
Canada |
UK |
Germany/Ireland/France/Italy |
|---|---|---|---|---|
|
Rate of interest |
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.
- 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)
- 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 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).
- A 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).
- A brief statement of assets & liabilities of parent/ guardian/ other co-borrower.
- Bank account statement for the last 6 months.
Benefits
Getting Your Avanse Financial Education Loan Through GyanDhan
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 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 counsellor.
Guaranteed best loan
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.
Apply Online & Upload Documents
Processing & Approval
Free Doorstep Document Collection
Loan Sanction & Disbursal
The GyanDhan effect in Avanse
|
Feature |
With GyanDhan |
Without GyanDhan |
|---|---|---|
|
Personalized document checklist according to profile & area |
Yes |
No |
|
Branch visits |
0 |
3-4 |
|
Pre-visa disbursements |
Easy |
Difficult |
Impact case studies
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.
Frequently Asked Questions
What is the maximum loan amount one can get for overseas studies?
What is the interest rate on an Avanse education loan?
What is the tenure of an Avanse education loan?
Is the loan disbursed in the borrower’s account or the institute/college/university’s account?
Is there any margin money on Avanse education loans?
Is there a prepayment penalty on Avanse education loans?
Our Lending Partners
Avanse Financial Education Loan Reviews - Student's Speak
Shouvik Das Gupta
My experience with GyanDhan was great. Keep doing the good work.
Akshay Palle
Gyandhan helped me a lot in getting my loan approved at the last moment and I appreciate it.
Suvrojit Chowdhury
Keep up the great work. You are helping in making future for students, and I really appreciate that.
