NBFC quotes move with the profile. Section 80E applies only if the lender is notified.
Features Of Avanse Abroad Education Loan
Avanse Financial Services was established in 2013 with the sole purpose of enabling students to achieve their academic aspirations
Study Abroad Loan – We help students fund up to 100% of the cost of studying and living abroad!
Study in India Loan – We enable students to achieve their academic aspirations by offering 100% of the tuition fees!
Short Term Loans – Get the funds you need to pay your child’s school fees upfront or fund your child’s online/offline tutoring or courses.
Student Loan Refinancing – Our loan refinancing allows the aspirants to switch their existing loan provider or apply for a new loan to pay off their existing loan
| Features | Education Loan Details |
|---|---|
| Loan amount | Upto ₹1Cr (Collateral) Upto ₹70Lac (Without Collateral) |
| Margin money | Nil |
| Interest rate | Starts at 12% + Spread (Spread is a variable interest rate that depends on the borrower’s credit history and the chosen course.) |
| Processing fee | 1.1% to 1.5% |
| Processing time | 5 Working Days |
| Loan tenure | 10 Years |
| Prepayment charges | Nil |
| Repayment holiday | For principal payment, 6 months after course completion |
| Countries covered | USA, Canada, UK, Ireland, New Zealand, Australia, Germany and others |
| Payment study period | Simple Interest or Partial Simple Interest, depending on the student’s profile and the target course. |
For Unsecured / Non-Collateral Loan
- Borrower must be an Indian citizen
- Co-applicants must be an Indian citizen
- Confirmed admission to the colleges before disbursement
- Co‐applicant(s) may be any of the following relatives, viz Father / Mother / Brother / Sister (married) /Spouse
| Type | Requirement |
|---|---|
| For Secured / Collateral Loan | The following types of collateral are accepted
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Benefits Of Avanse Study Abroad Loan
- No margin money required
- Up to 100% finance for Course Fee, Living and Other expenses
- Tax benefit under Sec 80E
- Attractive rate of Interest
- No upper limit on loan amount
- Long term loans resulting in easy EMIs
- Flexibility in collateral security requirements
- Loan against property mortgaged with Avanse
The loan amount will be disbursed in Indian Rupees
How To Apply for Avanse Abroad Education Loan through We Fund Your Future and Benefits You are getting?
- Scan the QR Code to apply
- Higher Chance Of Approval
- Online Submission Of Documents
- No Cost To You
- Quicker Sanctions
Documents
| Type | Documents Required |
|---|---|
| Applicant Documents |
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| Co-Applicant Documents |
1. In case of Salaried Employee (All the following)
2. In case of Self Employed or Professional (All the following)
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| References | Two References Details – Name, Email, Mobile Number and Address |
| If, Collateral - Immovable Property (Flat, House, Non-Agriculture Land) (All the Relevant Documents from the Following List) |
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Education Loan Repayment for Avanse Bank
Minimum loan repayment tenure – 12 months
Maximum loan repayment tenure – 180 months (including the course duration)
We also offer a grace period of 6 months from the time you complete the course or a grace period of 3 months from the time you secure your first job.
Questions students ask
How much loan amount can I get from Avanse?
The loan amount offered by Avanse has no maximum limit. The company will cover up to 100% of the loan amount. Avanse also covers living expenses during the study duration. The living expenses, however, must not exceed 20% of the tuition rates. Avanse additionally covers other fees such as a caution deposit, a building fund, and so on. These costs must not exceed 10% of the tuition.
What is the Avanse education loan interest rate?
What is the Avanse holiday or moratorium period?
Students may receive relief for up to six months after completing the course or three months after finding work (whichever comes first). Students are not required to return loan instalments during the moratorium period.
What are Avanse's minimum and maximum payback periods?
Avanse offers a 12-month minimum repayment period. It offers a maximum duration of 120 months. This is in addition to the Avanse education loan repayment moratorium granted.
Is the loan given to the borrower or to the institute/college/university?
Tuition and on-campus housing fees are paid to the university, while additional living expenditures are credited to the borrower’s account.
Is there a penalty for prepaying Avanse education loans?
There is no penalty for prepayment after six months of disbursement.
Is it feasible to reapply if my previous loan application was denied?
Yes. Avanse enables loan reapplications even after refusal. However, you should double-check your eligibility before reapplying for your loan. You must also ensure that you have met the company’s paperwork needs.