Avanse vs. Auxilo: Comparing Abroad Education Loan Options

    Updated on: 23 Oct 2023 9 min read

    Avanse vs Auxilo

     

    NBFCs are becoming the preferred options for abroad education loans by many students. According to CRISIL ratings (Credit Rating Information Services of India Limited), education loans by NBFCs have an expected growth of 35% - 40% to around INR 35,000 Cr in the financial year 2023-24. 

    Both Avanse and Auxilo are NBFCs based in India that offer education loans for studying abroad with competitive interest rates, flexible repayment options, and dedicated customer support. Avanse and Auxilo are prominent non-banking financial companies (NBFCs) in India that provide loans for education abroad. They offer both secured and unsecured loan options.

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    Frequently asked questions

    How do Avanse and Auxilo differ from tr aditional banks?

    Avanse and Auxilo specialize in education loans and have tailored their offerings to meet the unique needs of students studying abroad. Traditional banks do not offer the same level of customization and flexibility that NBFCs offer.

    What are the eligibility criteria for Avanse and Auxilo education loans?

    The eligibility criteria may vary, but generally, Avanse and Auxilo require applicants to be Indian nationals with a confirmed admission offer from a recognized foreign educational institution. They also consider the academic performance, financial background, and credit history of the applicant or co-applicant.

    Do Avanse and Auxilo require collateral for their education loans?

    Avanse and Auxilo may offer both secured and unsecured education loans. Collateral may be required for higher loan amounts, whereas smaller loans may not require any collateral. Generally for undergraduate courses, collateral is a must, whereas for postgraduate courses unsecured loans are available.

    Are Avanse and Auxilo education loans eligible for tax benefits?

    Avanse and Auxilo education loans are not eligible for tax benefits under Section 80E of the Income Tax Act. 

    What is the interest rate of an abroad education loan from Avanse?

    The current rate of interest on abroad education loan from Avanse range from 12.5 - 13.5%.

    What is the interest rate on an abroad education loan from Auxilo?

    The current rate of interest on abroad education loan from Auxilo range from 11.25 - 14%.



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Written by Ananya Ghai

A post-graduate with over three years of expertise in the education abroad industry, Ananya has a knack for writing blogs. Previously, she has worked as an IELTS trainer and SOP writer. A passionate writer and a literature geek, describe her perfectly.


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Reviewed by Aman Jain

Aman Jain graduated from IIT Kanpur, and currently functions as the CMO at GyanDhan. He is deeply passionate about creating equality in higher education and has directly interacted with 2 Lakh students in his 8-year-long journey.


Specializes in:
Education loan , Study Abroad Admissions


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GyanDhan is India's first education financing marketplace.



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