The benefits of studying abroad are almost endless. On the professional front, it gives you access to better jobs and helps you build a bright future for yourself. Studying abroad also helps you grow as a person as you meet new people and experience new cultures. It’s no wonder that more than 750,000 Indian students choose to study abroad every year. And with our education loan for abroad studies, you could be one of them!
However, studying abroad also requires a lot of leg-work. You need to appear for entrance exams, complete the application process, figure out your travel & living requirements, and several other things. Amidst all these formalities, our educational loans for abroad studies ensure that you have one less thing to worry about – the finances. We provide financial solutions for every step of your journey, from pre-admission loans for proof of funds, to pre-visa disbursement loans that help you with the visa formalities and fast-track loan which expedites your admission process.
Applying for our study abroad loans is also extremely simple. We have an easy 4-step application process and we also provide doorstep services for added convenience. Our loan experts will hand-hold you through the entire process, explain all the terms & conditions and even help you with the documentation for your study abroad loan. So if your dream is to study overseas, let our education loans for abroad studies help you make it a reality.
To be eligible for a study abroad loan from Avanse, you only need to meet the following eligibility criteria:
Do you check all the above boxes? Well, congratulations, you are eligible to apply for our education loans for abroad studies! As for point number 3 – if you do not have a confirmed admission in the Institute, you can still get a pre-admission loan. This will help you cover all your pre-admission expenses including entrance exam fees, consultation fees, the cost of prep tests, etc. These loans can also provide proof of funds to increase the chances of your application being selected.
Our loans cover your entire student life journey. Right from the course fee to the purchase of study material, we will take care of everything! Here is a rough list of expenses you can get covered with our loan for higher education abroad:
With an education loan for abroad, you get 100% finance. This ensures that all your expenses are taken care of. Therefore, instead of worrying about funds, you can focus fully on your studies. We will handle the costs for you!
At Avanse, we believe that you should aspire without boundaries! That’s why we do not have any limit when it comes to the loan amount. However, the loan amount that we can provide depends on numerous factors such as your academic record, the course you’ve selected, your parent’s ability to repay the loan, etc. To get a better idea of the loan amount you can avail, use our eligibility calculator. You can also come to the nearest Avanse Financial Services branch office, or you can contact us to schedule a home visit.
We provide 100% finance. This means that you do not need to provide any margin money to get an educational loan for abroad studies. Amazing isn’t it?
You do not need to provide collateral or any form of security to get an educational loan for abroad studies. However, if you are able to provide security in the form of residential/commercial property or a fixed deposit, then you will enjoy higher loan amounts and/or reduced interest rates.
This is our eligibility criteria:
The Minimum amount given as study abroad loan is Rs. 1,00,000.00/- At Avanse we do not believe in putting limits to your dream of pursuing higher studies, we look at structuring the study abroad loan to meet your necessary needs and cost of education.
At Avanse we do not ask for any Margin money contribution from our applicants. Our study abroad loans are designed to provide 100% coverage of the cost of education, thus doing away with this burden, leaving you to focus on your studies.
Faster, Transparent and Hassle Free. These are the benefits that you get when you come to Avanse for an education loan. Our optimized processes ensure you get the required education loan easily and at the right time.
You can apply for an Avanse Education Loan process even before you enrol for your course. However, disbursement of the loan will only be done after you have secured a confirmed admission at the reputed/ recognised Institute or University.
You can apply for an Avanse Education Loan before you enrol for your study, however you will need to be fully enrolled before we can make any disbursements for you.
Applying for an Avanse study loan procedure is quite simple. You can,
While applying for your education loan procedure, kindly ensure the following:
We will review your application and verify the information you have provided. Should we need any additional information to complete the study loan procedure, we will get in touch with you.
We assess your education loan based on the information and documents provided. Once your loan application is verified, we will issue our in – principle approval through a Loan Offer letter, outlining the loan amount you qualify for. We will also intimate you about any additional documents that may be required to be submitted prior to disbursement. You can use this Loan Offer letter to declare the source of funds, during the process of admission.
On submission of your admission confirmation, we will verify your admission details with the Institute or University; collect details like Course duration and commencement, Fee Schedules, etc.
If all conditions covered in the education loan procedure in India are met then we will send you an Education Loan Agreement. The agreement will contain the terms and conditions for your review, and the same will need to be signed by you as a token of acceptance. You will be expected to return the signed agreement quickly along with the original or verified copies that are required prior to disbursement of your loan.
The education loan amount is provided to you by:
We always aim to offer you competitive interest rates on your Avanse Education loan. The rate of interest on your loan is calculated as: Interest Rate = Avanse Base Rate + Spread.
Our current Base Rate is 12.65% (w.e.f. 01.11.2018).
The Spread is floating and is based on analysis of the overall credit and course profiling.
This rate is subject to the terms and conditions of Avanse Financial Services Ltd.
Security for the Loan is determined by the quantum of amount required and the credit worthiness of the principal borrower. At Avanse, following types of Collateral Security are accepted:
Avanse Education loan Service charges and fees are as follows
|Description of Charges||Charges and Fees|
|Pre-Payment charges||No pre-payment allowed in the first 6 months of loan disbursement|
|Charges for late payment of PMII / EMI||2% per month|
|Cheque / ECS Swap charges||Rs 500/- plus applicable GST|
|Cheque / ECS Bounce charges||Rs 400/- plus applicable GST|
|Document handling charges (At the time of foreclosure)||Rs 2,000/- + plus applicable GST|
Any other additional services requested by the customer such as Document Retrieval, Account Statement etc, will be charged on nominal basis, as per the policy of the company.
Minimum Repayment Tenure: 12 Months.
Maximum Repayment Tenure: 120 Months (Including course duration).
Grace Period is of 6 Months after the course is complete or 3 months after getting the Job.
As a responsible lender, Avanse understands the importance of your education loan and ensures that you are supported with various options to maintain a good credit so that you not just enjoy your financial independence but are responsible for maintaining it too.
Avanse offers you the flexibility of repaying your education loan while in school as well as on completion of your course.
Avanse charges Processing fee between 1-2% of the loan amount and is calculated on a case-to-case basis. The final amount is arrived in the course of processing the loan application.
|Applicant||Co Applicant||Additional Co- Applicant||Guarantor|
|2colour photos||2colour photos||2colour photos||2colour photos|
|Photo Id||Photo Id||Photo Id||Photo Id|
|Residence Proof||Residence Proof||Residence Proof||Residence Proof|
|Date of Birth Proof||Date of Birth Proof||Date of Birth Proof||Date of Birth Proof|
|Signature Verification||Signature Verification||Signature Verification||Signature Verification|
|Academic Documents||8 Months Bank Statement||8 Months Bank Statement||Income Proof|
|Proof of Admission||Income Proof||Income Proof||Collateral Documents|
|Fees Structure||Collateral Documents||Collateral Documents|
|Relationship Proof||Relationship Proof|
For more information go on Downloads section.
Get into form! These must-have downloads are your immediate pre-requisites that are the starting points to open up academic doors and, perhaps, your world.
Application Form Download
• Login checklist for salaried
• Login checklist for employed profesional (Senp)
• Login checklist for employed profesional (Sep)
This education loan for abroad studies covers all expenses related to Exam Prep Classes, GRE/GMAT/SAT entrance exam fees, cost of applications for admission to universities abroad, actual course fees, living abroad expenses, costs of books, computer and other education related expenses.Apply Now
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