Auxilo is a premium pro-education NBFC that focuses on education loans for international students. Auxilo, which was founded in 2017, is still a young firm, but it already has a strong track record of funding students' international studies. Auxilo plans to assist more students to finance their tuition and other living expenses by working with UniCreds. Auxilo evaluates students based on 15+ criteria and provides personalised education loan choices for nations such as the United States and Canada. UniCreds can also assist you in obtaining an Auxilo Education Loan for study abroad even before you have been admitted based on your academic background.
|Sr. No||Features||Education Loan Details|
|1||Loan amount||₹1,00,00,000.00 (Collateral) ₹50,00,000.00 (Without Collateral)|
|3||Processing fee||1.0% to 2.0%|
|4||Processing time||4 Days|
|5||Loan tenure||10 Years|
|7||Countries covered||USA, Canada, UK, Ireland, New Zealand, Australia, Germany and others|
1. Express Approval 2. No Margin Money 3. Flexible Repayment Options 4. Customised Education Loan Solutions 5. Digital Process 6. Online Account Management After Loan Disbursement
|1||For the borrower -||1. The student applying for the Education Loan should be an Indian citizen, 18 years old or above. 2. The student should have a confirmed admission in the Institute before Auxilo allocates the Education Loan. 3. An earning co-borrower in India should co-sign the Education Loan.|
|2||For the Co-borrower:||Since the co-borrower plays an equally important role in education loans, there are set criteria that must be met. 1. The co-borrower must be a citizen of India 3. He/She must be earning in India 2. It is important that he/she has an Indian bank account that facilitates cheque writing 4. They could be a parent, legal guardian, a relative, or even your sibling 5. Lastly, the co-borrower will be considered as the primary debtor|
|3||Eligible Courses||You are eligible for the Auxilo loan if you’re undertaking any of the following courses: 1. Graduation and post-graduation courses, as well as diploma programmes, that are recognised and authorised by the UGC/AICTE/IMC/Government Bodies, etc. 2. Law, Management, Medicine, Engineering, Aviation, and other professional and technical courses 3. Auxilo-approved vocational training, executive programmes, and other courses.|
|4||Eligible Countries||Auxilo provides funding for students to study abroad in the following countries: 1. USA 2. UK 3. Canada 4. Germany 5. Ireland 6. Australia 7. Singapore 8. New Zealand 9. UAE|
UniCreds provides students with a customised list of documents by analysing the student’s profile, the co-applicants profile and any property/asset, which you may offer as collateral. At a high level, these are the documents needed:
|Sr. No||Type||Documents Required|
|1||For Applicants:||1. KYC documents like Aadhaar card or PAN card. 2. Academic documents like SSC, HSC, Graduation, etc. 3. A valid passport.|
|2||For Co-Applicants:||1. Basic KYC documents like the Aadhaar card and PAN card. 2. Income documents like pay-slips, Form 16/ITR. 3. Bank Statements.|
The Auxilo Education Loan Terms and Conditions state that repayment of the principal amount begins six months after course completion or when the student obtains employment, whichever comes first. Until then, the student just needs to pay a portion of the interest on the amount that has been utilised. The repayment options for Auxilo Education Loans are flexible and adjustable.
Apply Online & Upload Your Documents: 1. Once you’ve checked your eligibility, you can either apply online or contact one of our experienced education loan counsellors, and request a callback. Our expert counsellors can assist you in obtaining an Auxilo education loan without collateral or with one, depending on your convenience. 2. After you’ve given your profile details, our team will critically evaluate your profile and, based on your eligibility, we will recommend you with the next set of steps. 3. UniCreds offers the facility for students to upload documents online, so you can save yourselves from the hassle of submitting your documents at the bank, and can do it right from the comfort of your homes. 4. Moreover, in order to speed up the process, UniCreds also gives you a customized list of documents that you can upload based on your profile and the loan that you’ve applied for. Doorstep Collection Of Documents: - Auxilo provides students located in tier 1 and tier 2 cities with the facility of collecting documents right at your doorstep. If you’re uncertain about whether this facility is applicable in your area, you can always get in touch with UniCreds to cross-check and then proceed. Processing and Approval: 1. Once you’ve uploaded/submitted the relevant documents, you can send your loan application and supporting documentation to Auxilo for review and real-time approval. 2. UniCreds will communicate with Auxilo on a frequent basis to determine the status of your application and to guarantee that it is processed as quickly as possible. Our website will provide you with the necessary updates. 3. Applicants should be aware that they may be approached by the lender at this point to provide further documentation in support of their loan application. These specifications will be sent to candidates via UniCreds. In the event of an unjustified demand, we will refer it to the appropriate Auxilo authority. 4. The loan is accepted and available for sanction once the papers and application are found to be free of flaws or any further loopholes. Loan Sanction And Disbursal: 1. Upon your loan approval, you will be required to pay the processing costs in order to obtain the sanction letter. 2. After obtaining the sanction letter, the student and co-applicant must execute the loan agreement within the validity term of the sanction letter, which is 6 months. 3. After signing the agreement, the student is entitled to loan disbursement. 4. The lender will deposit the specified amount of money into your bank account or the university/account. If the student requires disbursement prior to the visa as per the rules of the visa office, we consult with the Auxilo team and get it done. 5. UniCreds will also ensure that disbursements are made on schedule, and students can get in touch with UniCreds throughout the term of the loan.