InCred vs. Avanse: Which is Better for Abroad Education Loans?

    Updated on: 23 Oct 2023 9 min read

    InCred vs Avanse

    When searching for education loans to study abroad, InCred and Avanse are two prominent Non-Banking Financial Companies (NBFCs) that catch your eye without extensive scrolling. These reputable lenders offer financial assistance for both STEM and non-STEM courses in sought-after destinations like the US, Canada, the UK, Germany, Ireland, Australia, and more.

    Selecting the ideal option between InCred and Avanse requires thoughtful consideration of various factors and personal preferences. To assist you in making a well-informed decision tailored to your special needs, we present a comprehensive comparison of their loan products.

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    Frequently asked questions

    What is the minimum salary requirement of the co-applicant for an InCred education loan?

    The minimum salary requirement of the co-applicant for InCred education loan depends on various factors like the course and country of study and GRE scores. The income requirement for education loans to various countries is as follows: 

    • STEM Master’s in the US - INR 20,000
    • Non-STEM Master’s in the US - INR 35,000
    • STEM Master’s in Canada - INR 30,000
    • Non-STEM Master’s in Canada - INR 40,000
    • STEM Master’s in other countries - INR 35,000
    • Non-STEM Master’s in other countries - INR 40,000

    What is the minimum salary requirement of teh co-applicant for an Avanse education loan? 

    For Avanse education loans, the minimum co-applicant salary varies according to the country of study abroad as shown here:

    • STEM Master’s in the US - INR 20,000
    • Non-STEM Master’s in the US - INR 35,000
    • STEM Master’s in Canada - INR 30,000
    • Non-STEM Master’s in Canada - INR 40,000
    • STEM Master’s in other countries - INR 35,000
    • Non-STEM Master’s in other countries - INR 50,000

    Which countries are eligible for InCred education loans?

    InCred education loans are available for 25+ countries, including popular destinations such as the US, Canada, Australia, Germany, Ireland, New Zealand, etc. The list of eligible countries is updated annually based on lending conditions and policies. 

    Which countries are eligible for Avanse education loans?

    Avanse education loans are available for higher studies in 50+ countries including the US, the UK, Canada, Germany, Australia, Singapore, etc. 

    How many days does it take to get an education loan from InCred or Avanse?

    Compared to banks, NBFCs take less time to process the loan application. Avanse and InCred take around 5 - 7 days to process the education loan application. If the application is eligible, the loan will be disbursed within the period convenient to the student. 

    Which is safe for education loans, InCred or Avanse? 

    InCred and Avanse are safe options for education loans to study abroad.



Anam
Written by Anam Shams

Anam Shams is a seasoned professional in the study abroad field with deep knowledge of admissions and loans. With a passion for helping aspiring students fulfill their academic dreams, Anam combines extensive experience with a commitment to simplifying the complex processes of studying overseas. A trusted advisor, Anam empowers students to navigate admissions seamlessly and secure financial support, making international education more accessible and attainable


Specializes in:
Education loan , Study Abroad Admissions

Photo aman jain
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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