Discover your education loan eligibility now!
Eligibility Calculator
Your Total Eligible Amount: ₹
What Is an Education Loan
Eligibility Calculator?
Deciding to opt for an education loan is often the easy first step in your education financing journey. Now you have to think about the amount of money you’d require and how you can repay the amount within the loan tenure. An education loan eligibility calculator helps you understand your finances slightly better. The eligibility calculator works as a loan eligibility checker. It provides an approximation of the loan amount you are eligible to borrow based on your current finances. You need to provide details about your monthly income, monthly obligations, the interest rate and estimated tenure of your loan. If you do not have a monthly income, you need to provide your co-borrower’s details instead. Based on the information provided, the eligibility calculator will provide an estimate of your education loan eligibility amount.
Ready to discover your eligibility?
Ready to discover your eligibility?
Apply NowWhat Is the Study Loan Eligibility Criteria?
If you’re hoping to secure a loan for your higher studies in India or abroad, we can provide you with an education loan. Before you apply, you need to meet the following educational loan eligibility criteria.
Students can apply if they:
- Are Indian citizens who are 18 or older
- Have a confirmed admission before the final disbursal
- Have a co-borrower who earns in India
They Co-borrowers also need to meet the following criteria:
- Must be an Indian citizen and should be a parent, legal guardian, sibling or other blood relative
- Must have a bank account in India that allows them to sign cheques
- Must be the primary debtor
You can apply for a 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.
If you meet the above study loan eligibility criteria, you can go ahead and use the education loan calculator to understand your education loan eligibility in India. Your student loan eligibility in India depends on your monthly earnings and outgoings as well as your loan interest and tenure.
Why Use an Education Loan Eligibility Calculator?
As a young adult, understanding your finances can seem difficult. You may require a certain amount to secure your seat at your preferred college, but your financial situation dictates the maximum amount a lender will provide as your education loan. Your educational loan eligibility depends on your family’s current earnings and outgoings and your loan tenure and interest rate. Your lender will use this information to understand whether or not you are capable of repaying your loan on time. If you apply for a student loan in excess of your student loan eligibility, your application could get rejected. If this happens, it could dishearten you and affect your credit score in the future.
When you opt to use the education loan eligibility calculator, you will gain a realistic understanding of your financial standing. You can use the information to apply for a loan amount that lenders can afford to provide you based on your education loan eligibility in India. You can use the loan eligibility calculator to make informed decisions about your higher education and financial future.
What Are the Benefits of Using a
Loan Eligibility Checker?
When you use the Avanse student loan eligibility calculator, you benefit from:
Quick Answers
Our education loan calculator provides an instant answer to your question - “How much education loan can I get?” The amount will be an approximation, but it gives you an idea of how much you can afford to borrow from your education financing partner.
Ease of Use
Our student loan eligibility calculator is very easy to use. You simply enter the education loan requirements and it will instantly provide you with your Avanse education loan eligibility amount. What's more? You can use the calculator on our website for free!
Check Varying Combinations
When you’re checking your eligibility, you can use our student loan eligibility calculator to try different amount combinations. You can check your eligibility with various interest rates and loan tenures. You can find a rate and tenure that provides you with the highest eligibility and find a lender who offers you what you need.
What Are the Benefits of an
Avanse Education Loan?
Avanse provides education loans for individuals who want to fund their own higher education. We provide hassle-free financing so you can follow your academic dreams and aspirations. When you partner with us for your education finances, you can benefit from:
Bridge Loans
Our partnership starts right from when you decide to get an education loan in India. Our bridge loans help you with the cost of entrance exam prep and fees, applications, living costs and more.
Score-Based Benefits
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.
Pre-Admission Loans
If you’re headed overseas, we’ll sanction your student loan so you can confirm your seat at your preferred university with ease.
Fast-Track Loans
Sometimes, you may need a quick loan to facilitate your admission process. That’s what our fast-track education loan provides.
Availability of Funds Certificate
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.
Checking Your Student Loan Criteria – Documents Required
To apply for an education loan for higher studies in India or abroad, you will have to provide the following documents:
- Student KYC and educational documents
- Details regarding the course and fees
- Co-borrower KYC and income details
- Collateral documents
Here’s a quick document checklist that will help you get your papers in order
| 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 |
Frequently Asked Questions
It's okay to have questions, because we've got answers!
You can use an online Education Loan Eligibility Calculator to understand the maximum loan amount you can get. The calculator evaluates your monthly income and other financial obligations.
No, you do not need property to opt for an education loan. You can choose an unsecured education loan that does not require any collateral. If you still want a secured loan, you can offer a fixed deposit or life insurance policy as collateral.
The time varies depending on the lender and multiple other elements, including availability of the documents. As a student-centric organisation, Avanse Financial Services provides quick sanctions within 72 hours, provided you meet our preset criteria.