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Avanse - Education Loan

NBFC

Collateral free loans available

Loan Margin : NIL

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5 days avg loan processing time

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Margin

NIL

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Collateral

Collateral free loans available

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Loan Tenure

Upto 15 Years

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Processing fee

0.5% to 1.0%

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Early Repayment

Yes(without any charges)

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Living Cost

Yes

Secured Loan

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Amount

Up To 2Cr

Un-Secured Loan

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Amount

Up To 1Cr

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UniCreds Guarantee

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Quick Loan Sanctions

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100% Transparency

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No Hidden Fees

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24x7 Support

Features of Avanse

With a clear understanding of the key features of any education loan, you can confidently manage your education financing journey and pursue academic aspirations without unnecessary financial stress. Thoroughly glance through the table given below to figure out if Avanse suits your specific needs: 

 

FeaturesEducation Loan Details
Loan amountUpto ₹2Cr (Collateral) Upto ₹1Cr (Without Collateral)
Margin moneyNil
Processing fee0.5% to 1.0% + GST
Processing time5 Days
Loan tenure15 Years
Prepayment chargesCharges applicable for early repayment (varies from case to case).
Repayment holidayFor principal payment, 6 months after course completion
Countries coveredUSA, Canada, UK, Ireland, New Zealand, Australia, Germany and others
Payment study periodYes, partial interest, simple interest, direct EMI.

Looking forSparkLogoFaster and
streamlined Process?

100% Transparency

100% Free

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Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.

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Eligibility

Knowing the eligibility criteria for Avanse education loans is essential because it will help you assess whether you qualify for financial assistance before applying. Additionally, being aware of eligibility criteria helps avoid wasting time and effort on applications that may not be approved, enabling you to explore alternative funding options if necessary. Following is a list of the essential eligibility requirements:

 

TypeRequirement
Age RequirementYou must be at least 18 years of age while applying for the Avanse education loan.
Confirmed AdmissionYou must have an admission letter from the desired university you are applying for.
Academic ExcellenceA good academic track record is expected. You must undertake entrance examinations like GRE, IELTS, TOEFL, etc. The GRE score is especially important when seeking education loans for the US.
Eligible Courses & CountriesAvanse finance education loan covers regular graduate, post-graduate, diploma, certificate, and doctorate courses in any discipline offered by foreign institutes or universities in countries such as the USA, UK, Canada, Australia, New Zealand, France, Germany, and Ireland, among others.
Co-Applicant EligibilityA co-applicant is mandatory, who may be the applicant's mother, father, sister, brother, spouse, paternal or maternal relative, or a legal guardian. The co-applicant should have a regular source of income and a good credit history.

Key Benefits

End-to-End Coverage:
Avanse education loan finances 100% of your international studies. It covers your course fees, book costs, housing expenses, travel expenses and your college laptop. As a result, you can concentrate on your studies without having to worry about anything.
Customised Financing:
Avanse offers customised education loans by recognising the academic excellence of every student, course, and university. This saves you from over borrowing, and gets the best suited amount that you can afford, throughout your loan plan.
Flexible Repayment Options:
Along with the customised financing, Avanse provides flexible repayment options that best suit your financial appetite.
Quick Loan Processing:
Avanse understands that proof of funds is important for securing admission and applying for a visa. Hence, they make sure your loan processing time is shorter.
Effortless Application:
With Avanse there is no need to juggle between the banks for education loans. Avanse has an online loan application facility so that you can apply for the loans from the comfort of your home and track your application.

NBFCs are generally highly convenient for study abroad loans as their loan approvals depend on your academic excellence and not your financial stability. If you are looking for faster loan disbursals, less scrutiny on eligibility and overall support throughout your study loan journey, then Avanse is for you. The following benefits may interest you:

Why UniCreds?

Professional Loan Advisory
Our loan experts evaluate your loan requirements and aid you in selecting the most appropriate loan option from a wide range of banks and NBFCs. This helps you make well-informed decisions in line with your academic and financial goals.
Competitive Rate Negotiation
As UniCreds has strategic partnerships with the top financial institutions, we negotiate your interest rate with other banks focusing on Avanse or any other bank of your choice.
Accelerated Loan Approvals
By employing efficient processes and cultivating strong partnerships with lending institutions, we expedite the processing of your loan application, ensuring swift approvals devoid of unnecessary delays.
Continuous Support
Our committed team is dedicated to guiding you through every stage, addressing any queries or concerns you may have, and ensuring a seamless journey from application to fund disbursal.
Up To 100% Finance
Whether you choose an Avanse Loan with or without collateral, you can continue to earn up to 100% financing. With so many various types of charges to cover throughout your trip abroad, Avanse will keep you safe.
Flexible Options For Repayment
Make use of the repayment options, which enable loans to be adjusted to the needs of the user. If you have any specific requirements, please contact us, and we'll forward them on to the Avanse team, who will present you with the finest possibilities available.

Get Guidance at every step of your loan application

We ensure 100% transparency throughout the education loan process.Our education loan counsellors will stay by your side every step of the way.

Need Guidance Faster? Call us at:

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18001217661

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Need Guidance Faster? Call us at:

phone

18001217661

How to Apply?

As we have partnered with top banks and NBFCs in India including Avanse, we aid in interest rate negotiations, streamline paperwork, and ensure prompt loan approvals. Isn't this easier than handling the application process alone and encountering endless steps until the loan is sanctioned? Here's how you can proceed:

 

1. Initial Consultation: 

Contact UniCreds to arrange a complimentary consultation with our loan specialists. During this discussion, we'll delve into your educational aspirations, financial situation, and preferred loan options to provide tailored guidance.

 

2. Document Gathering: 

Our team will furnish you with a concise checklist of documents needed for your Avanse education loan application. We'll help you efficiently gather these documents, ensuring a hassle-free process.

 

3. Application Assistance: 

UniCreds will support you in accurately and promptly completing the Avanse education loan application. We'll ensure all requisite information and documents are included to prevent any delays.

 

4.Comparison & Negotiation: 

While our primary focus is on Avanse student loans, we'll also explore other lenders and programs to secure the most competitive terms for you. Furthermore, we may negotiate lower interest rates with lenders on your behalf to secure the best possible deal.

 

5. Submission & Application Tracking: 

Once your Avanse application is prepared, we'll submit it on your behalf and keep you updated on its progress. You can rely on us to manage all communication with the bank, saving you time and effort.

 

6. Loan Approval & Disbursement: 

Upon approval, Avanse will provide a clear outline of the loan terms. We'll guide you through the disbursement process, ensuring a smooth transfer of funds to your account.

 

Looking forSparkLogoFaster and
streamlined Process?

100% Transparency

100% Free

unicreds

Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.

unicreds-scholar-girl

Required Documents

Ensuring you have all the required documents before applying for the Avanse education loan can expedite the approval process and minimise delays. While UniCreds provides personalised guidance on document collection, the following is a fundamental checklist you should prepare:

 

TypeDocuments Required
Personal Documents1. Completed Avanse study loan application form 2. Passport (first and last page) 3. Proof of Identity (Aadhaar Card, PAN Card, Voter ID, etc.) 4. Proof of Address (utility bills, rental agreement, etc.) 5. Valid student visa for the country of study 6. Comprehensive travel insurance covering medical emergencies and travel disruptions 7. Proof of relationship with the co-applicant (birth certificate, school leaving certificate, etc.)
Additional Documents1. Scholarship letters (if applicable) 2. Proof of any educational loans already availed (if applicable) 3. Co-applicant's employment verification letter (if applicable) 4. Collateral documents (if required for the specific loan program you choose)
Academic Documents1. Acceptance letter from your chosen university abroad 2. Most recent academic transcripts (including mark sheets and degrees) 3. Standardised test scores (if required by the university, like GRE, GMAT, TOEFL, IELTS)
Financial Documents1. Income Tax Returns (ITR) of the applicant and co-applicant (if applicable) for the last 3 years 2. Salary slips of the co-applicant for the last 8 months 3. Bank statements of the co-applicant for the last 8 months 4. Estimated cost of attendance document from your university (including tuition fees, living expenses, etc.)

Loan Repayment Options

As previously indicated, Avanse offers flexibility in its student loan repayment terms. Similar to other financial institutions, Avanse permits students to commence repaying their loans after the moratorium period. However, to reduce the financial strain following the moratorium period, Avanse allows students the option to make partial or simple interest payments during this period. Here are additional noteworthy repayment terms:

 

1. Moratorium Period Availability:

After completing your course, you have the opportunity to benefit from a grace period of one year before commencing the repayment of your education loan EMIs. This grace period allows you time to secure employment and achieve financial stability for repaying your student loan.

 

2. Flexible Repayment Plans:

Avanse provides various repayment options for students tailored to their income and financial circumstances. You can seek guidance from UniCreds loan experts to discover a plan that suits your requirements.

 

3. Prepayment Facility:

The Avanse does not impose any prepayment charges on education loans. If you have the financial means available, you can settle your loan in advance.

 

Reminder UniCreds is also on hand to assist you in understanding the loan repayment terms and devising a personalised repayment strategy. We will guide you through the available repayment options, ensuring a smooth journey throughout your loan repayment process.

 

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Years
Months
Months

The displayed EMI amount is approximate & is subject to change based on various factors.

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Monthly EMI
0
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Principal Amount
1,600,000
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Total Interest
0
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Total Amount
0
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What our Students say about us

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Frequently Asked Questions

The loan amount offered by Avanse has no maximum limit. The company will cover up to 100% of the loan amount. Avanse also covers living expenses during the study duration. The living expenses, however, must not exceed 20% of the tuition rates. Avanse additionally covers other fees such as a caution deposit, a building fund, and so on. These costs must not exceed 10% of the tuition.
The interest rate ranges between 10.75-13.0%*.
Students may receive relief for up to six months after completing the course or three months after finding work (whichever comes first). Students are not required to return loan instalments during the moratorium period.
Avanse finances up to 100% of your education abroad, however, loans without collateral can amount up to Rs. 75 lakhs.
Tuition and on-campus housing fees are paid to the university, while additional living expenditures are credited to the borrower's account.