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How To Track Avanse Education Loan Status? Explained

Namrata Sukhtankar
April 23, 2024
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Last Updated: September 19, 2024

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Till date, Avanse has catered to over 4,00,000+ academic aspirants in over 50 countries for education loans. Avanse is known for its quick loan application process, which is highly sought-after. It also has a system to track your loan status in the comfort of your home. Tracking loan applications gives you a clear picture of everything from approval to disbursement. This blog will help you know how to track Avanse’s education loan status in detail.

Key Features Of Avanse Education Loans

The maximum loan amount and interest rate for Avanse Education Loans vary depending on the country and university. Below is a general overview of interest rates, processing fees, loan limits, and more.

Parameters	Details
Loan Amount	No upper limit; covers 100% of your education, with certain limitations for secured and unsecured loans (refer image)
Processing Fees	Ranges between 1-2% of the loan amount
Interest Rates	interest rates range between 10-13% for secured loans
Co-applicants	Parent, legal guardian, sibling can be your co-applicant to avail education loan from Avanse
Covered Expenses	Pays 100% of tuition fee; supports 75% of living expenses, including books and a computer, capped at 20% of tuition fee
Repayment Duration	10 years
Courses Covered	Graduate, diploma, postgraduate courses offered by Government approved universities

How To Check Avanse Education Loan Status?

Avanse has strategically given many options to track your education loan status. This simplifies the loan tracking process for everyone in any situation. Given below are the ways you can track your Avanse education loan status:

Method 1: Track Avanse Loan Application Status From Avanse Website

If you have applied for an Avanse loan, you must register on their official website.

Once you have registered and your account is created, you can use your credentials to log in to their portal again for loan tracking. Here’s how you can track Avanse loan status:

Find the ‘Customer Login’ section on the official Avanse Financial Services website.
Enter your loan account number or email address.
You can see your loan status, including disbursement details, outstanding balance, and repayment plan upon logging in.

Method 2: Track Avanse Loan Status From The Mobile App

Avanse has its mobile app as well. The app is downloadable on Android and IOS too. Here’s how you can go about it:

You can download the Avanse mobile app for Android or iOS.
Use your loan account details to log in.
Your loan status will be displayed on the app dashboard, where you can keep track of disbursements, payments, and more.

Method 3: Avanse Application Status Through Customer Service

In cases where you don’t have access to the internet or face any technical difficulties, you can dial their toll-free number. Do this to get in touch:

Contact Avanse customer service via their toll-free number or email to receive personalised assistance.
If you are asked to provide your loan account number and verification details, please provide them.
The customer service representative will answer any questions you have about your loan status.
Make sure you have your loan account information and relevant identification.
You can get detailed info about your loan status and service requests from the branch staff.

Method 4: Check Your Avanse Loan Application Status Through UniCreds

UniCreds will help you get an Avanse education loan at lower processing fees and interest rates. We have partnered with Avanse Financial Services to help you get quick loans at affordable rates. Here’s how you can track your loan status through UniCreds Dashboard.

Visit UniCreds and register on our platform
Our loan counsellor will help you with the entire loan process, from understanding your requirements, eligibility and documentation to loan sanction
You can track the entire Avanse loan process on your dashboard

How To Apply For An Avanse Education Loan?

If you are looking to apply for an Avanse education loan at lower processing fees and quick sanctions, UniCreds will help you with that. We have partnered with Avanse to give you the best deal on education loans ever! Follow the steps below:

Step 1: Fill out the UniCreds form on our website with your basic information.

Step 2: Our loan counsellor will call you shortly to discuss your loan needs in detail.

Step 3: Our team will negotiate your loan’s best interest rates, fees, and terms with Avanse.

Step 4: Next, you will receive a customised list of documents based on your eligibility.

Step 5: Once you have submitted the documents and filled out the Avanse loan application form, your loan will be approved within days!

Avanse Education Loan Disbursement Process

Receiving the Avanse education loan is straightforward. After you receive the approval letter from Avanse, the loan amount will be disbursed to Indian Rupees (INR). The loan can be provided through a demand draft, cheque, or electronic transfer. The most convenient and preferred method is to have the loan amount transferred electronically to a co-applicants account. The tuition fee is directly paid to the university, while the remaining funds are disbursed in your or your co-applicants account.

Tuition Fees and Accommodation: The tuition and on-campus accommodation fees are directly transferred to the respective university in instalments, as per the required schedule.
Off-Campus Accommodation: If the student lives off campus, the loan amount allocated for off-campus accommodation will be transferred to the co-applicants account.
Other Expenses: The loan amount intended for other expenses, such as purchasing equipment, books, etc., will be transferred to the co-applicants account in instalments throughout the study period.
Forex Card Option: According to the loan agreement, students can also request that the loan amount be transferred to a third-party foreign exchange (FOREX) card.

Tips For Avanse Loan Tracking

You must responsibly track your loan status before and after sanction. This helps you get a clear idea of your finances and dues. Follow the steps below:

Make it a habit to regularly check your loan status, especially after significant milestones in your education or loan repayment schedule.
Ensure your contact details are up-to-date with Avanse to receive timely notifications and updates regarding your loan.
Familiarise yourself with the terms and conditions of your loan, including the repayment schedule, interest rates, and any applicable fees or charges.

FAQs

1. Are there any fees associated with tracking the status of my Avanse Education Loan?

No fees are associated with tracking the status of your Avanse education loans.

2. Are there any specific documents required to track the status of my Avanse Education Loan application?

No, there are no documents required for tracking the Avanse loan application other than your credentials. Documents are required at an initial stage while applying for the loan.