It covers expenses like tuition fees, travelling costs, accommodation expenses, cost of living, and other education-related costs. If a student meets the eligibility criteria, submits their documents on time and fulfils the company’s requirements, they can get the education loan sanctioned in just 3 days*. In this article, we will cover information about Avanse Education Loans to study in India and abroad. Also, we’ll let you know about key features, eligibility, repayment options and how to apply for Avanse Student Loan. 

Avanse Education Loan

Avanse Financial Services is a new-age, education-focused NBFC. It offers study loans to make education financing seamless and affordable for every deserving Indian student.. Avanse Financial Services has offered education loans for 1,580+ educational institutions located in 49 countries across the world.

Student loans offered by Avanse are one of the best education loans in India as they cover the holistic cost of education, including tuition fees, travelling expenses, living costs, learning devices, and other education-related expenses. Also, students can customise their loans according to their needs. From pre-visa education loans to score-based benefits, Avanse Financial Services offers financing solutions that consider a wide spectrum of students’ needs.

Key Features of Avanse Education Loan

Here are some key features of the Avanse education loan:

• Quick Disbursal Process: If you meet their eligibility criteria and submit documents on time, then you can get quick disbursal in just 3 days*. (Please remember that your student profile will be thoroughly examined to determine your employability potential)
• Floating Interest Rates: Avanse Education loan is available at only floating ROI. It means it can change based on different conditions.
• Flexible Repayment Options: You can choose desired repayment options, as tenure is up to 17 years. 
• With Collateral or Without Collateral: Students can choose between secured (with collateral) and unsecured (without collateral) education loans based on their financial requirements and preferences.
• No Limit on Maximum: Students can borrow any amount they need. The minimum education loan amount is Rs. 1 Lakh.

Expenses Covered Under Avanse Education Loan

The overseas education loan covers expenses like tuition fees, living expenses, travel expenses, the price of books, devices and other equipment for learning, and refundable deposits. Now, let’s understand the expenses better.

• Tuition Fee: Up to 100% of the university tuition fee.
• Living Expenses: 75% of the cost of living, including the purchase of books, computers and other equipment, as long as it does not exceed 20% of the tuition fee.
• Travel Expenses: Upto INR 75,000 to cover the travel expense of student only.
• Other Expenses: Up to 100% of the building fund or caution deposit or refundable deposit as long as it does not exceed 10% of the tuition fee and comes with valid bills or receipts from the educational institution.

• Eligibility Criteria of Avanse Education Loan

  To borrow the education loan offered by Avanse Financial Services, students need to meet basic eligibility requirements. No student will get approval for an education loan without fulfilling the eligibility criteria. Here we have mentioned point-wise Avanse Student Loan eligibility: 

  For students

  • Nationality: Applicant must be an Indian citizen
  • Age: The applicant should be 18 or older
  • Admission: Should have a confirmed admission before the final disbursal
  • Co-borrower: Should have a co-borrower who earns in India

• For Co-borrowers

  • Who can be a co-applicant: The co-borrower should be an Indian citizen and must be a parent, legal guardian, sibling or other blood relative.
  • Bank account: Should have a bank account in India that allows them to sign cheques
  • Responsibility: Must be the primary debtor
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