Before we tell you about our education loan plans, let’s test your general knowledge. Do you know
which country has the highest number of universities in the world? Let’s give you some clues - it’s
not America, it’s not Canada, not even Australia. Give up? It’s our very own, amazing, beautiful, and
incredible India. With more than 8500+ colleges & universities, India surpasses even the US when it
comes to the number of educational institutes for higher education.
What this means is that, no matter what you choose to study, there is always a good college to pursue your course from and it’s usually just a stone’s throw away from home, just like our branch locations. Avanse has around 190 locations where you can easily avail an education loan that provides up to 100% finance without any collateral or any limit on the loan amount. This sanctioned loan amount can be used for a variety of educational requirements including your tuition fees, purchase of study material, hostel stay, project expenses, travel costs, and so much more. With an Avanse education loan, there are no compromises.
And, that’s not all! We also provide customized education loans with the fastest sanctions and flexible repayment solutions. And for your added convenience, we even provide study in India loans with doorstep services! Because, if you do not leave the country to study, why leave your home to get a loan?
You can go through the application process and have the money you need to study in India, within just a couple of days!
A loan for Higher studies in India that is express processed, sanctioned & disbursed. Of course, this is subject to all necessary documentation procedures.Apply Now
The benefits of an education loan stretch far beyond the financing of your degree course. Let’s look at how opting for a study loan will probably be one of the best financial decisions you’ll ever take:
One of the biggest lessons that an educational loan can teach you is how to be financially independent. Our parents do a lot for us throughout the formative years of our lives. When we grow up, it is imperative that we shoulder some of the responsibilities for our own needs. As an adult, shouldering responsibility majorly involves taking care of one’s own finances. Taking a loan and paying for your own studies is the best way to get a hands-on experience of what it means to be financially smart and independent. Borrowing money and being responsible for paying it back teaches you many things about money matters such as EMIs, interest calculation, taxes, and so on. In this regard, an educational loan is designed to be easy to understand thus, they are the perfect type of loan product to start off with. Plus, you can proudly wear the tag of being a ‘self-made’ individual.
Study loans work just like any other type of loan when it comes to building your credit. Regularly paying the instalments on your educational loan will help you create and maintain a long and positive credit record. This credit history will truly come in handy throughout your adult life. Whenever you need to apply for any kind of financing, your already strong credit history will work in your favour. All thanks to your student loan! This means that when you actually want to apply for a home or a car loan, you will have a good credit record that shows you as a dependable borrower – a definite advantage over people who have never taken education loans at all. Plus, the fact that you already have experience with repaying loans means you will face absolutely no doubts with regards to managing future situations where you need to apply for financing.
One of the biggest plus points of taking a loan to pay for your higher education is that in doing so, you can save your family’s hard-earned savings for a rainy day. Building up a corpus of savings is not an easy task. The expenses involved in raising a family and providing for their needs are humongous if one considers constant inflation. Yet, your parents have done that and so much more, while also putting away a bit of money every month for the future. Now, it is important that the family wealth is safeguarded for emergencies which can crop up unannounced. An education loan works to your advantage by helping you pay for the A to Z of your studies without having to ever dip into your family savings. So, whether you need a new laptop or funds for a field trip, let your study loan bear the expenses as your family’s precious funds stay protected. This kind of a benefit is truly worth its weight in gold.
It is good to ask questions and we always have answers!
ven studying in India has become so expensive! Some students & parents resort to selling their assets, liquidating their investments or borrowing from friends & family. But we believe that the best way to cover your education-related costs is a study in India education loan. This is because:
And if you choose Avanse, you get finance solutions that are tailored as per your needs. You also
enjoy superb features such as collateral-free funding without any limit on the loan amount, fastest
sanctions, flexible repayment plans and many more such amazing benefits!
So, if you have big plans to pursue your education 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!
Yes, our study in India loans provide 100% cover for your academic expenses. For example, you can get finance for the following:
So, as you can see, when you opt for a study loan from Avanse, you won’t have to worry about any education-related expenses.
We believe that dreams should not be limited by funds, or the lack of it. That’s why an Avanse study
loan does not have any upper limit. However, the loan amount will depend on numerous factors
such as your academic record, your co-borrower’s financial capacity, etc.
If you want a clearer idea of the education loan amount you are eligible for, you can use our eligibility calculator by clicking here. You can also visit the nearest Avanse branch office or contact us to schedule a doorstep visit
Margin money refers to a certain percentage that the borrower has to pay, while the rest of the amount is taken care by the lender. However, at Avanse, we do not require you to provide any margin money as our education loan provides 100% finance.
Our main goal is to make it easier for you to access a study in India education loan! That’s why we do not require any security/collateral to give you a 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 education loans in India with a tenure of 120 months! This ensures that repaying a higher education loan becomes easy!
Here is a list of some of the documents that you will need for a study loan:
This is our eligibility criteria:
The minimum amount given as an educational 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 education loans in India 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 notify 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 ofAvanse 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 bounce charges (per bounce)||Rs 500/- 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.
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.
Application Form Download
• Login checklist for salaried
• Login checklist for employed profesional (Senp)
• Login checklist for employed profesional (Senp)