Moving abroad for your higher education opens several doors. You can gain access to highly-acclaimed and globally recognised programmes, or you may enhance your career prospects for the future. Irrespective of why you’d like to move overseas, there’s no denying that education loans for study abroad can help you achieve all your dreams!
Once you start applying to colleges abroad, you may realise that there’s a lot of paperwork involved in securing an education loan. Study abroad easily when you partner with us for an overseas education loan, you don’t have to do all the study loan for abroad paperwork alone. We’ll be with you at every step of the journey!
When you decide to study abroad, you have to worry about more than just your tuition fees. The cost of living in another country and buying your textbooks all start to add up. Before you even secure your admission, you must prove you have the funds required to pay for your student life abroad. With Avanse educational loans for studying abroad, you don't have to worry about the costs. Our study loans for abroad cover all your education-related costs, right from course fees to travel, books and learning devices. We also offer abroad education loan options without collateral and with collateral. Whatever you need, we’ve got you covered!
As an education-focused organisation, we recognise all the hard work you put into achieving your academic aspirations. We offer preferential interest rates and other special privileges to high merit students applying for our education loan abroad.
Sometimes, you may need a quick loan to facilitate your admission process. That's what our fast-track loan for education abroad provides.
A pre-visa loan helps students fulfil their financial requirements to qualify for a student visa. At Avanse, we offer pre-visa education loan for study abroad to fulfil their academic aspirations.
We'll sanction a student loan for abroad studies so you can confirm your seat at your preferred university with ease.
Most universities abroad require you to prove you have the funds to pay for your tuition and living expenses. We’ll provide you with the funds and the certificate to show the availability of funds.
Our partnership starts right from when you decide to get an education loan for study abroad in India. Our bridge loans help you with the cost of entrance exam prep and fees, applications, living costs and more!
Most young people today do not want to live their life with any boundaries or restrictions. They like to question what’s considered normal and hope to pave their own path in life. These young visionaries can benefit the most from our study loan abroad. Enterprising individuals who seek more opportunities can head overseas and gain access to a plethora of educational options.
Moving abroad to study can mean a lot of financial stress on you and your family. Young people today do not want their parents to sacrifice anything for them. Instead, they fund their own education with education loans for studying abroad in India. By doing this, they get to live life on their own terms. With the help of our educational loan for abroad studies, they fund their own education and living expenses.
Sometimes, young individuals need a little help with the application paperwork for the course of their dreams. They may also need some financial assistance to take care of their living and other costs. With an education loan in abroad, they can get the help they need without worrying about being a burden on their loved ones.
If you’re considering an education loan for study abroad, you’ve come to the right place.
Look no further than our Avanse study loan for abroad. Our education loan for abroad studies
offers the following benefits:
Here's how you can get your education loan to study abroad application started:
Most Indian students hope to join their preferred course abroad between June and September each year.
If you’re one of them, here’s a look at when you need to start the application process
Students can apply for a foreign education loan for graduate or post-graduate courses or other job-oriented professional or technical courses. The courses and the institute offering them must be approved by Avanse.
Documents | Applicant | Co-Applicant | Additional Co-Applicant | Guarantor |
---|---|---|---|---|
2 Colour Passport-sized Photos | ||||
Photo ID | ||||
Residence Proof | ||||
Date of Birth Proof | ||||
Signature Verification | ||||
Academic Documents | ||||
Proof of Admission | ||||
Fee Structure | ||||
Income Proof | ||||
Collateral Documents | ||||
8-month Bank Statement | ||||
Relationship Proof |
At Avanse, we offer the best education loans to study abroad and we don’t want to limit your dreams. While the minimum loan amount for an overseas study loan is INR 1,00,000, we do not put a cap on the maximum loan amount. We strive to create customised education loans in India for studying abroad that meet all your financial needs with ease. Additionally, we will not ask for any margin contribution. Our goal is to provide holistic funding for your education so you can achieve your academic aspirations successfully.
When you choose Avanse as your education financing partner, you can count on quick, transparent and completely hassle-free loans. To apply for an education loan to study abroad, you can fill up the online form or send an e-mail to wecare@avanse.com. For a smooth application journey, you should inform us about:
Ideally, check which documents you need to submit and apply for the loan well in advance to avoid last-minute hassles.
Once we receive the application, our consultants will review it and get in touch with you if they require any additional information. If your application checks all our boxes, we will provide you with a formal Loan Offer letter. Here, we outline the loan amount you can get as well as a list of documents we require from you. You may use the loan offer letter to secure your seat at your preferred university or institute.
Once all the paperwork is ready, we will provide you with an education loan agreement. The agreement lists out all the terms and conditions. After you review the paperwork and sign it, we will disburse the loan amount via DD, cheque or electronic transfer.
Generally, Avanse charges 1-2% of the loan amount as the processing fee. However, we evaluate the amount on a case-to-case basis and share the final amount while processing the loan.
To ensure you always enjoy a competitive rate of interest, we work with floating rates. We calculate the interest on your loan using the formula: Interest = Avanse Base Rate + Spread. Our base rate is currently static at 14.55% (WEF 01.12.2024). The spread changes periodically based on your overall credit and course profiling. We use a simple interest rate with monthly rest to calculate the rate of interest on your education loan.
At Avanse, we believe in being transparent. We want you to have all the information required, so here’s a look at our service charges:
Description of Charges | Charges and Fees |
---|---|
Pre-payment charges | No pre-payment allowed within 6 months from the disbursal of the loan |
Charges for late payment of PMII/EMI | 2% per month |
Cheque/ECS bounce charges (per bounce) | INR 500/- plus applicable GST |
Document handling charges (during foreclosure) | INR 2,000/- onwards plus applicable GST |
Additional services, as required, will be charged at a nominal fee as per Avanse policy.
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.
Our loans are designed to help you meet all your financial needs. So, we provide multiple repayment options. You can start repaying from the time you’re in college or once you complete the course and secure a job. While repaying, you can choose between:
Still need some more information about your education loan for abroad studies? Get our document checklists and more:
It’s okay to have questions, because we’ve got answers!
Yes, you can apply for an education loan to study abroad. Indian lenders have a list of approved countries, colleges, and courses. They will issue loans if you have a confirmed seat for a recognised course at a reputed college and if you meet their eligibility criteria.
To apply for an education loan for abroad studies, you must be an Indian citizen over the age of 18, have a co-borrower who earns in India, and confirm admission to the institution. Additionally, your co-borrower must be an Indian citizen who could be a parent, sibling, other blood relative or legal guardian. They should be the primary debtor and have a bank account in India that allows them to sign cheques.
While applying for a loan to study abroad, you need to provide course and fee details, your KYC and educational documents, your co-borrower’s KYC and income details, collateral documents in case of a secured loan, and other relevant documents required by your financial institution.
To get a student loan for the USA from India, you must meet the eligibility criteria. You must have secured admission, be an Indian citizen over 18, and have a co-borrower earning in India.
The loan amount depends on your course fee and the potential costs of living abroad. You can use an online education loan expense calculator to understand how much you will likely require to manage comfortably.
Yes, you can get an education loan for study abroad courses without collateral. Before approaching a lender, you must decide whether you want a secured or unsecured study loan. If you don’t have anything to offer as security, you can still apply for an education loan without collateral. Lenders will evaluate your academic background and your family’s financial history. Opting for a loan without collateral may impact your loan amount and interest rate. Use an eligibility calculator to estimate your options.
Students must be Indian citizens, 18 years or older, and have confirmed admission before the final loan disbursal. A co-borrower is required, who should be an Indian citizen, a close relative (parent, sibling, legal guardian), and have a bank account in India. The co-borrower must be the primary debtor. Loans are available for graduate, post-graduate, or job-oriented professional and technical courses approved by the lender.
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