India is fast emerging as one of the world’s most exciting and progressive education hubs. It is home to countless new-age universities and educational institutes that offer a plethora of programs, both niche, and mainstream! In fact, this wide array of choices encourages international students to study in India as well.
These new-age courses need a new age finance company. That’s why Avanse offers 100% study loans in India without any margin money and we don’t have a cap on the loan amount. Our tailor-made study loans in India are designed to finance your plans and make it easier for you to study in India. With Avanse, you can get finance solutions for most traditional and non-traditional courses from engineering, medicine, law, management to hospitality, culinary, aviation, arts, media studies and much, much more.
Avanse believes in being accessible to every aspiring student that desires to study in India. Currently, you can get a study loan in India across 183 locations. We, therefore, support multi-city co-borrowers and customized study loans in India, along with door-step advise and solutions. We are known and valued for our quick sanctioning and processing.
When instant finance Is the need of the hour, You can count on us!
A loan for Higher studies in India that is express processed, sanctioned & disbursed, Subject to all Documentation procedures being followed.Apply Now
Many students are not sure how to fund their further education plans, especially since it has become so expensive to study in India. Some use their family savings, others borrow from relatives while some are forced to sell precious assets like their land, gold, etc.
But the best way to finance your academic plans is to opt for a student loan. Our higher education loans are specially designed around the needs of students like you. With study in India loans from Avanse, you can enjoy the following benefits:
So if you have big plans to study in India but you are worried about the cost, just relax, we have your back! Just get in touch with us and we’ll handle everything!
Our higher education loans provide 100% finance – this means that we will cover all your education-related expenses. For example, you can get finance for the following costs:
So as you can see, when you opt for a study in India loan from Avanse, you won’t have to worry about any education-related expenses.
We do not have any upper limit on the loan amount. However, the loan amount we will provide you depends on numerous factors such as your academic record, your co-borrower’s financial capacity, etc. If you want a clearer idea of the loan amount you are eligible for, you can use our eligibility calculator by clicking here. Or, better yet, we suggest you visit your nearest Avanse branch or contact us to schedule a doorstep visit
We do not require any margin money. We provide 100% finance so you do not have to worry about a down payment. With a higher education loan from Avanse, you get complete funding and complete peace of mind!
Our main goal is to make education loans more accessible for you! That’s why we do not require any security/collateral to provide you a study in India loan. However, by providing collateral, you can greatly increase your loan eligibility and reduce your interest rates. Therefore, if you are able and willing to provide security, it is always better.
We provide tenures up to 120 months! This ensures that repaying a higher education loan is easy!
Here is a list of some of the documents that you would need for a study in India Loan:
This is our eligibility criteria:
The minimum amount given as study india loan is Rs. 1 lac. At Avanse we do not believe in putting limits to your dream of pursuing higher studies, even in India. We look at structuring your domestic loan to meet your necessary needs and cost of education.
At Avanse we do not ask for any margin money contribution from our applicants. Like our study abroad loans, our study in India loans are designed to provide 100% coverage of the cost of education, thus making it easy for the student and the co-borrower.
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 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 your 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 and 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 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 six 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 six months after the course is complete or three months after getting a 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 still in school, as well as on completion of your course.
Avanse’s processing fee is anything 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.
Document Checklist : Checklist of Supporting Documents
|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.
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