Avanse Education Loan
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Interest Rate
Starts @ 12%
Processing Fees
1% to 1.5% of Loan Amount
Loan Margin
0%
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 2000+ universities and colleges, 27000 pre-approved courses across 50+ 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
| 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 |
| 3. | Margin Money | None |
| 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 |
- 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.
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Benefits
Getting Your Avanse Financial Education Loan Through GyanDhan
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.
Doorstep Service
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.
Low Turnaround Time
GyanDhan gets the Avanse loan approved in 5 days.
What are the eligibility criteria for the Avanse education loan?
The eligibility to apply for the Avanse education loan for an applicant is as follows -
- The student taking the education loan must be 18 years and above.
- The student must be an Indian citizen.
- There must be confirmed admission of the student to a recognized university.
- The education loan has to be co-signed by a co-applicant earning in India.
Eligibility criteria for Co-borrowers
- The co-borrower must be an Indian citizen.
- Any parent, sibling, legal guardian, or relative can be the co-borrower. Parents and siblings are the first choices.
- They must have a bank account in any bank in India with cheque writing facilities.
- The co-borrower would be the primary debtor.
- The co-borrower should have a good CIBIL score.
What are the courses eligible for the Avanse education loan?
Avanse provides loans for several courses.
- Undergraduate courses - students may have to provide collateral depending on the loan amount.
- Postgraduate courses and programs.
- Professional and technical courses.
What are the eligible countries for the Avanse education loan?
Avanse provides education loans for more than 50 countries. Some of the countries are Australia, Canada, Germany, the USA, and the UK.
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Processing & Approval
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Loan Sanction & Disbursal
Documents Required For Avanse Financial Education Loan
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
- Address
- Past Academic Record
Co-Applicant’s Documents Pertaining To:
- Identity Proof
- Address
- Financial
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.
Frequently Asked Questions
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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.