Auxilo vs Tata Capital Education Loans for Studying Abroad

In deciding between Auxilo and Tata Capital education loans, it is useful to consider the size and reputation that each lender has developed over years. Auxilo has sponsored 15000+ students through funding of studies in 1400 different universities and 25+ different countries. Tata Capital, meanwhile, that had ventured into the education loan market in late 2023, has already recorded more than 6,000 applications according to The Economic Times.

On top of these numbers, it is also essential to know what each lender is really offering on the table. Auxilo focuses on providing wide coverage for students aspiring to study abroad, catering to multiple disciplines and destinations with flexible loan terms. Tata capital, on the other hand, pursues a more niche program strategy by funding STEM, management, and aviation courses. This comparison tends to make students think about their needs and pose a question, Auxilo or Tata Capital which one is better to study abroad.

Auxilo vs Tata Capital Student Loan Details

Students often compare Auxilo vs Tata Capital student loan options to identify the most suitable financing choice for studying abroad. The table below highlights critical factors such as maximum loan amount, eligibility, margin, interest rate, tenure, and moratorium period.

Interest Rates of Auxilo vs Tata Capital

Interest rates play a crucial role in deciding between lenders, making them an important factor in the Auxilo vs Tata Capital student loan comparison. The rates differ across STEM and non-STEM master’s programs, which are displayed in the table below for Auxilo.

Tata Capital determines its interest rates based on different loan categories, and the detailed breakup can be seen in the table below.

Note: These are general interest rates. The final interest rate will depend on each applicant’s profile.

Repayment Tenure of Auxilo vs Tata Capital

Every applicant is different, and so are their financial needs. Deciding which repayment tenure works best is subjective, and the choice between Auxilo or Tata Capital which is better depends on your repayment capacity and future plans.

Auxilo Repayment Tenure:

Auxilo offers a repayment structure that extends through the course plus an additional one year, with options to pay PSI and SI during this period. Borrowers can stretch the repayment tenure up to a maximum of 15 years, which ensures flexibility.

Tata Capital Repayment Tenure:

Tata Capital provides a similar moratorium period covering the course and one year after, but requires payment of PSI, SI, and even EMI during this time. The maximum repayment tenure also goes up to 13 years, balancing affordability with structure.

Auxilo vs Tata Capital Loan Eligibility

There are slight differences in how both lenders education loan eligibility. This comparison on Auxilo vs Tata Capital loan eligibility highlights what you and your co-applicants need to meet before applying.

Auxilo:

Auxilo education loan has clear requirements that focus on the applicant’s academic record and the co-applicant’s financial stability.

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  Auxilo provides loans for both STEM and non-STEM programs.
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  The co-applicant should have a minimum monthly income of ₹20,000 without existing obligations.
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  Students with a maximum of five backlogs are eligible to apply with a strong academic profile.
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  A CIBIL score of 700 or higher is required.

Tata Capital:

Under Auxilo vs Tata Capital student loan eligibility, Tata Capital highlights factors such as applicant’s age, co-applicant’s financial capacity, and consistent academic performance before loan approval.

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  The applicant’s age must be between 18 and 35 years.
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  For co-applicants, the age limit is 60 years if salaried and 65 years if self-employed.
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  Students should have secured at least 60% marks in both 10th and 12th grades.
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  A maximum of five backlogs is permissible.
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  A minimum CIBIL score of 700 is mandatory.
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  Tata Capital supports loans for STEM, management, and aviation courses.

Auxilo or Tata Capital: Which is better?

To sum up, the choice between Auxilo vs Tata Capital student loans depends on your academic objectives and priorities. Auxilo offers tailored support for a wide range of master's courses across STEM and non-STEM fields, while Tata Capital focuses on providing financing for specialized programs like STEM, management and aviation. Knowing these differences can make you consider which lender is compatible with your study plans and financing needs. To take the next step and be sure of your move, verify your loan eligibility with GyanDhan and find the best solution that will support your overseas education.

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