FAQ’s & Glossary

*Terms and Conditions Apply

Yes, there are a few criteria you have to meet to apply for our student loans. If you are an Indian citizen, completed your 10th standard, and if you have a confirmed seat at the institute you plan to study at... yay! Congratulations, you meet our basic criteria!

What would also work in your favor when we are considering giving you an education loan would be, a good academic record, if you have chosen an institution with a good rating and if your parents have a regular source of income.

Anytime is the right time to apply for an avanse educational loan, but we would normally pay out the fees only after your chosen institute confirms to us that you have admission. If you have already applied and are awaiting confirmation with baited breath, you can also opt for a Pre-Admission Loan (PAL).

Yes, yes! We know that it is very expensive to study abroad and it is horribly difficult to get scholarships or financial aid, but that should not be in the way of your future! Therefore, a pre-approved higher education loan would make complete sense when you are applying to institutes, because you could use this as proof of funds. It would also help you strengthen your case for admission in a choice of course.

The early bird gets the worm, or rather the fees in time for admissions! So, you should start applying for your education loan as soon as you choose your institute and you know what the fees for the current academic year are going to be. It would also be great if you could give us proof that you have confirmed admission. Remember to allow at least 6 to 8 weeks from the time of the initial application, until your school receives the fees.

Then let us tell you a bit about ourselves! Simply put, we are what one would call a Non-Banking Financial Company (NBFC).Our aim is to financially support students like you in your pursuit of higher education.

Yes, we understand that any bank could offer you an education loans in India. But we are the experts in the realm of education loans, we live and breathe education loans and that should speak volumes about how we are different from just any bank! We strongly believe that you should not be stressed or worried while applying for a student loan for studying abroad or to study in India. We have even fine-tuned our processes and technology to be as smooth and stress free as possible. If you still have questions about how we are different, come on down and see for yourself!

And because we want you to not worry about your education loan and more importantly to study and prepare yourself for the future, we have made our services all about you ...

  • We offer you pre-admission education loans
  • We have reasonably priced schemes.
  • We customize our education loans to suit your needs.
  • We bring our education loan services to your door if needs be. If it is not convenient for you to come to us, we shall come to you.
  • We give you a study loan to cover the whole cost of your education. Yup! That means we give a maximum study loan amount of 100%.
  • We even have a counsellor who will take the time to explain everything to you and answer any questions you may have. Need we say more?

Of course, it is possible! We offer balance transfer facilities at a reasonable pricing. So, come on over!

Complaints at Avanse are rare and we take them very, very seriously. We shall be happy to listen to any thing that you may have to tell us including suggestions, secrets, questions or if you should have them-complaints. All you have to do is get in touch with a loan servicing officer at the nearest branch and they will sort out any issue for you.

Or you could call our toll-free no at 1800-266-0200

Or write to us at wecare@avanse.com

And we will get back to you ASAP.

Yes, you are more than welcome to apply again! Importantly though, make sure that you have all the necessary documents and meet all the other required criteria before you re-apply, so that you are not disappointed again.

We would really love it if you have a good academic record because it shows that you are serious about your career and makes us more confident to give you a loan. But rest assured that it is not the only criterion by which we decide if you are eligible for an educational loan.

Yes, absolutely! We do offer educational loans for admissions secured through payment seats and management quotas.

We do not want anything to come in the way of your education! So yes, we would provide education loans for part-time, correspondence or online program, but your course of choice must meet our requirements.

Well, this actually depends on your requirement of funds, and your/ your parents' capacity to pay back, we can offer you a minimum loan of Rs. 50,000/- to study in India and a minimum of Rs. 1,00,000/- to study abroad.

Whether you are studying for graduation, post-graduation, or have opted for vocational courses we have you covered! Some of the courses worth mentioning (just in case you are still doubt) would be:

  • We offer you pre-admission education loans
  • Graduation and post-graduation courses that include regular technical and professional degree/diploma courses from colleges & universities approved by UGC, AICTE, IMC, Government. etc.
  • Regular degree/diploma courses from autonomous institutions like IIM, IIT, ISB, etc.
  • Vocational training, executive programs and lots of other courses

So, if you choose to study in India or study abroad, we have your back!

In simple words, everything! Allow us to explain. At Avanse, we provide the maximum education loan amount i.e. 100% of the cost of your education! Be it your tuition fees or your living expenses, we have you covered.

  • The cover includes up to 75% of the total living cost including books, computer, and project expenses (but not more than 20% of the total tuition fees payable for the complete course).
  • Of course, we cover 100 % of your tuition fees.
  • Moreover, we also cover travelling expenses up to Rs 75,000 for students traveling abroad.
  • We also cover your insurance premium (if you take insurance from a provider that is preferred by Avanse).
  • The loan coverage also includes your caution deposit, building fund (supporting bills/ receipts required) However, this cannot exceed 10% of the total tuition fees.

Here is a list of some of the documents that you would need:

  • Your KYC
  • All your educational documents.
  • The details of the cost of your course.
  • The KYC of the co-borrower.
  • The income documents of the co-borrower.
  • Collateral documents.

There is a one-time only fee for processing your loan application, which is about 1-2% of the loan amount. It is really easy!

Simply put, a margin amount is a lump sum of money you contribute towards your own education. But we do not ask you for margin money because we provide 100% funding of the cost of your education. Perfect, is it not?

Yes, if you are able, you can definitely prepay your education loan; charges for prepaying will depend on the prevailing policy of Avanse.

Part Pre Payment & Foreclosure Form :

Because we offer loans at floating rates of interest, this means that your educational loan interest rate can go up and come down. Therefore, they could vary because they are dependent on the external economic conditions and internal company policies.

Oh, that is entirely up to you! Our repayment period ranges from a minimum of 12 months to a maximum of 120 months. We also understand that you may need a grace period to land on your feet after the completion of your course. To that effect you may receive a grace period of 6 months after you complete your course or 3 months after you have obtained employment.

We did mention that it is all about you! Therefore, we offer flexible repayment options to suit your needs. All you have to do is opt for the one most suitable to you:

  • You could pay off the education loan EMIs while you are studying.
  • You could pay off only the education loan interest during your course.
  • Or you could opt to pay off a partial amount of the education loan interest during the course

Very simply put, the time between the loan pay out to the time you pay your first EMI (Equated Monthly Instalment) is called a holiday period or moratorium. There is no repayment in this period. A holiday period is the maximum time a student gets before he / she can start paying back the principal loan in the form of EMIs.

We offer a holiday period of 6 months after you complete your course or 3 months after you have obtained employment, whichever is earlier.

It would be good to note that although you are not expected to pay your EMIs during the holiday period especially if you are a full-time, masters level student, it would make more financial sense to pay them off, if you are able.

The option of simple interest repayment during the course (the principal moratorium option) is generally not offered for bachelor's level or part-time courses.
We at Avanse generally don't suggest this as an option to our customers or give this as the past option.

This all depends on different things really! If you plan to study in India, the loan amount is paid out in Indian Rupees. The tuition and hostel fee will be paid out directly to the institute, in instalments, as per its stipulation. The loan amount for other expenses will be transferred to your co-applicant's account in instalments, over the duration of the course. In case you do not stay at a hostel, the fee will be transferred to your co-applicant's account. However, if you have taken a student loan for studying outside India, we shall transfer the loan amount according to the agreement with the FOREX service provider.

This is a good question! Let us try to answer it for you!

Institutes that are affiliated to the State/Central universities and come under the Central Government University Grants Commission (UGC) programs or the All India Council on Technical Education (AICTE) are called 'recognized' institutes. Most of the colleges in India come under UGC and AICTE.

Generally, 'reputed' institutes are the institutes that are well known and also have standard courses of 'repute'. The definition of reputed institutions might vary with each financial institution. If you want to know more, we have a list of reputed institutes. Hope this helps!

It is very simple! When you first apply to us for a loan, we verify the duration of the course, the fees and the entire cost of the course that is applicable at that point of time. But each year we will require you to submit a form, that gives us the details of the subsequent fee requirement, which is paid out directly to the institute.

No, we do not! The security coverage we ask you for depends on your merit and credit-rating- it varies from case to case. The more collateral you can offer, the larger the loan amount and better the interest rates we can offer. Therefore, we normally recommend that you offer the maximum collateral that you can.

Well, this actually depends on how big the loan amount is and the credit worthiness of the principal borrower. We accept the following types of collateral security:

  • Any residential property whether it is a house, apartment, plot
  • A fixed deposit assigned to Avanse.
  • Any commercial property/non-residential property (stipulated by Avanses policy).

Do not worry! We need some common documents to prove ID and address. You can check out the complete list of documents here (link)

To answer your question, the current rate of interest for an education loan in India is anywhere from 10% to 16.50% and may vary from lender to lender. Normally, unsecured education loans have a higher rate of interest as the risk of non-repayment is higher because there is no security; however secured education loans have a lower rate of interest.

Yes! By all means you can, but by offering higher collaterals you prove your capability and intent to pay back the loan. And as we said earlier, the more collateral you can offer, the larger the loan amount and better the interest rates we can offer.

Yes! You could get education loans to study abroad in a number of countries. Through our student loans for studying abroad, we have brightened the future of students going to 46 countries. Some of these countries include USA, Canada, Australia, UK, France, Germany, New Zealand, Ireland, Singapore, Switzerland, Netherland, and a host of countries that are not listed here. If you would like to know more, call us.

Yes, we do provide unsecured student loans for studying abroad. However, there are certain checks that we conduct while we are evaluating and considering your application.

It is very easy! You just have to follow these easy steps.

Contact us => Give us your details => Give us the relevant documents

And voila, you have your education loan! Easy enough?

Yes of course!! We provide education loans if you are going to study in the UK as well.

We have created an EMI calculator for this. Click here to see how it works!

Well, we do offer educational loans without admission but currently it is restricted to the Masters Level STEM Program in the USA.

We are quite quick if we may say so ourselves! We would take 4-6 working days for unsecured study loans and 8-10 days for secured study loans. But this is obviously after we receive all the documents that we require from you.

We are happy that you are curious about how your loan is calculated! You could try out our educational loan interest rate calculator (Link) on our website. Please keep in mind that the figures are just indicative and is just for a general understanding. But better still, consult an Avanse officer who will not only give you the low down on the educational loan interest rate, but will also give you a personal assessment, and all the information or advice you need.

Why not? We certainly want you to have a bright future! We offer an educational loan for MBA programs both in India and overseas. Call us!

No, there is no upper limit to the amount of education loan for studying abroad, but we structure our loans on the basis of how much money you would actually require and your ability to pay back.

We were serious when we said we have you covered! We cover all your expenses if you choose to study in India including tuition, living, travelling & other additional expenses.

FAQs are indicative in nature. The facility shall be subject to its terms and conditions*

If you have a question which is not covered by us, please drop in your question and we will be in touch soon.