Avanse Education Loan : How to apply for an Avanse Education Loan?

Avanse Education Loan : How to apply for an Avanse Education Loan?

Applying to a college is not easy, especially if you’re going abroad. There are so many formalities involved and you might have hundreds of questions relating to the admission process & your education loan. You can take comfort in the fact that we are always here to help.

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You can call Avanse for all your education-related queries and we will be more than happy to help. Avanse also conduct regular webinars to guide our students and provide a detailed overview of foreign universities, courses and study destinations. Avanse understand your dreams and it will be an honour for us to lend a helping hand to you in achieving the same.

With Avanse, you get a friend in finance that allows you to fulfil your dreams, easily & independently. More importantly, you keep your savings intact & assets invested. There’s more – you will also build your credit score in the process, this can be super helpful if you ever need to apply for a home loan or a marriage loan in future. This is a perfect win-win scenario.

The current interest rate for education loans in India is around 10% to 16.50%. However, it can vary from lender to lender. If you want to enjoy lower education loan interest rates, you can choose to provide some sort of collateral to secure your loan.

How to apply for an education loan?

The application process for an education loan differs slightly from lender to lender. At Avanse, we make the application process simple and quick. In fact, you are just 4 steps away from getting the necessary finance.

Step one is to reach out to us. To do this, you can visit our branch or our website. Then you will have to fill a simple form. After this, you will have to provide all your relevant documents. Once your documentation is done, your loan will be disbursed.

To make things easier, we also provide doorstep services for our educational loans. We will send one of our representatives to your home to help you fill all the forms and collect all the required documents. They will hand-hold you through the entire application process to ensure things are hassle-free and convenient.

What is the maximum amount I can get with an education loan?

This depends totally on your loan worthiness. Generally speaking, loan amounts easily go up to Rs. 50 lakh mark. However, lenders can provide even more than this. In some cases, they do so without any security as well.

To get a better idea of the loan amount you can get, it is best to use an education eligibility calculator. Or better, get in touch with or schedule a home visit – once we assess your needs & your financial capacity, we will be in a better position to ascertain the maximum loan amount you can get.

What are the documents required for education loan?

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

Do note that this is an overview of the documents generally required for an Avanse Education Loan. For a more detailed list specific to your needs, kindly reach out to us on email at wecare@avanse.com and we will be happy to assist you further.

Why should I choose Avanse for my education loan?

If you are looking for the best education loan in India, your search ends at Avanse. We provide numerous features that make it easier for students to pursue their dreams. Some of these features include:

  • Loan sanction or Disbursement before admission/visa
  • 100% Finance: No Margin Money
  • No Upper Limit on Loan Amount
  • 1 day* Loan Sanction
  • Flexible Repayment Options
  • Hassle-free & Transparent Process
  • Doorstep Service
  • Post Disbursement Online Account Management
  • Certificate of Availability of Funds (For USA)
  • Covers all pre-Admission expenses such as costs of Test Preps, Consultant Fees, Admission -Applications, and your Course Fees & Living Expenses.

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How is the interest charged/calculated?

The interest rate on your loan is calculated as: Interest Rate = Avanse Base Rate + Spread. The interest rate varies depending on the factors like academic scores, entrance exam scores, university, course and more.

How do I repay the education loan?

You can opt from multiple repayment options:

  • Interest servicing during the course
  • Partial interest servicing during the course
  • EMI repayment during the course
  • EMI repayment post-holiday/moratorium period
  • Step up repayment facility

What are the modes of education loan repayment?

Avanse offers you convenient and hassle-free payment modes as below, which ensures that your loan is repaid easily:

  • NACH
  • UPI apps (GPay, BHIM, PhonePe)
  • Digital Wallets
  • Debit Cards (Visa, Mater Card, RuPay)
  • Internet Banking
  • Cheque Deposit
  • Doorstep Hand Over of instalment to authorized Avanse employees

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