Education Loan: Fuel Your Dreams with Avanse

You can access both documents by visiting our website. Here are the links for your reference:

• Schedule of Charges: https://www.avanse.com/schedule-of-charges
• Interest Rate Policy: https://www.avanse.com/pdf/corporate-governance/Interest%20Rate%20Policy%20-%20Avanse-21-Jan-2025%20-%20For%20Update.pdf

A NACH (National Automated Clearing House) mandate is a simple and secure authorisation you give to your bank. It allows Avanse to automatically collect your monthly EMIs directly from your bank account on the due date. Think of it as setting up an automatic, recurring payment for your loan. It’s a “set it and forget it” instruction that ensures your EMIs are paid on time without any manual effort from your side.

One of the simplest ways to ensure worry-free repayment is by registering your NACH (National Automated Clearing House) mandate. This enables automatic deduction of your monthly instalments from your bank account on the due date.

Yes, you can share your request at wecare@avanse.com to update or swap your NACH mandate. If you are switching to a new bank account, the request will go through our internal approval process to ensure security. Once approved, the new mandate will replace the old one, and your EMIs will continue seamlessly from the updated account.

Your credit score indicates your creditworthiness based on your financial records with the regulated credit bureaus. A high credit score implies that you have good credit/financial history. Any delay in paying the EMI or non-repayment of the loan may have a direct negative impact on your credit score as well as that of the co-applicants involved. This is because we are required to report loan repayment status to credit bureaus in accordance with regulatory guidelines.

You can easily apply for an education loan online by following these steps:

1. Start by clicking the Apply Now button and begin your online application.
2. Enter your first name, last name, contact number, and email ID in the form.
3. Select your preferred place of study, time of study, and update your admission status.
4. Pick the loan amount you need for your education expenses and click Submit.
5. An Avanse representative will reach out to guide you on eligibility checks and the next steps.
6. Provide required documents such as your admission proof, KYC, co-applicant’s financial details, and academic records.
7. After verification, you’ll receive a sanction letter and loan agreement to review and approve.
8. Once approved, your education loan can be sanctioned in just 3 days, with funds disbursed directly to your university or as per the agreed schedule.

To apply for and secure an education loan in India, you must:

• Meet the eligibility requirements
• Submit a complete application
• Respond to queries and the agreement promptly

At Avanse, we streamline the journey and make the process straightforward.

Provide accurate personal, academic, and financial details. Along with the completed form, ensure you upload legible documents. Always review your form before submitting to avoid delays and unnecessary rejections.

Ideally, the loan process follows: Eligibility check → Application → Documents → Verification → Sanction → Disbursal.
We keep our education loan process simple and provide clear status updates at every checkpoint to ensure you’re always in the loop.

If documents are complete and verification is smooth, approval can arrive within days. Timelines vary by profile.

With complete documents, you can get your loan approved within three days. However, if you are offering collateral against your loan, your lender may require more time to verify the security and paperwork. At Avanse, we are committed to quick turnarounds to ensure you get your loan approved in time.

Amounts vary by program cost, institution, destination, and repayment capacity. Lenders assess the tuition fees and your profile before deciding limits.

There’s no universal cap. Each lender has their own specific policy. Usually, professional and international courses often qualify for higher amounts, subject to eligibility and security. At Avanse, we support high-ticket programs with clear terms.

Yes, especially for recognised courses and strong profiles. It depends on policy, institution, and documents. We’ll confirm feasibility based on your offer letter and budget.

Often, yes. You can use a top-up after fresh assessment and revised fee letters. Approval depends on eligibility at that time.

Often yes. However, it should fall within the sanctioned limits. Usually, hostel costs, meal plans, insurance, and travel are approved items. Check your sanction letter for inclusions.

Collateral is an asset pledged as security, such as property or fixed deposits. It can enable higher loan amounts or different pricing. Many applicants with strong academic records qualify for high loan amounts even without collateral.

Not always. Most lenders offer non-collateral loan options. However, they may limit the amount you can borrow without providing security.

Yes, you can apply for and receive funding without putting up any security or collateral. However, your loan amount will depend on your lender’s policy and your repayment capacity. We can examine your case and advise the most feasible route to ensure you can fund your education with or without collateral.

This depends on your co-applicant’s financial profile, your chosen course and institution, and the lender’s policy at the time. While many lenders may ask for collateral, some will offer the loan amount without security.

The amount varies by lender, program, and co-applicant profile. Lenders may offer higher non-collateral amounts based on your chosen institution and program. Typically, lenders offer higher amounts for students pursuing courses that are perceived to lead to high-paying jobs and good job security.

The borrower and co-applicant are jointly responsible for repaying loans. EMIs are usually deducted from the co-applicant’s account until the borrower begins earning. At Avanse, we structure our EMI payments to ensure a smooth cash-flow for us and our borrowers.

Usually, you have to start paying after the moratorium, which is the course duration plus a grace period of around three to six months. The exact dates will be outlined in your sanction letter. You can choose to start making small repayments towards your interest amount while you study, helping you manage your EMIs easier later. We’ll send reminders and help you set up auto-debit to ensure you never default on your repayment.

There are a few different ways to repay the loan, including:

• Setting up standing auto-debit instructions with your bank.
• Paying online monthly before the due date.
• Making part-prepayments to reduce interest when possible.

Your payment options include:

• Auto-debit/standing instructions
• Online portal payments/NEFT
• UPI (where available)

Feel free to choose whichever method suits you best, and we’ll help you set it up to keep you on track.

The benefits include:

• Timely funding
• Manageable moratorium periods
• Predictable EMIs

Loan features include:

• Flexible tenures
• Staged disbursals
• Non-collateral options

We’ll tailor features of the education loan to your course and comfort.

The best option balances total cost, moratorium, tenure flexibility, and service quality. Compare interest rates, additional fees, and repayment features before you decide. At Avanse, we help you evaluate the best education loan in India for your situation.