Avanse - Education Loan
NBFC
Collateral free loans available
Loan Margin : NIL
5 days avg loan processing time
Margin
NIL
Collateral
Collateral free loans available
Loan Tenure
Upto 15 Years
Processing fee
0.5% to 1.0%
Early Repayment
Yes(without any charges)
Living Cost
Yes
Secured Loan
Amount
Up To 2Cr
Un-Secured Loan
Amount
Up To 1Cr
UniCreds Guarantee
100% transparent process
Fast loan processing
Free of cost service
No hidden fees
Features of Avanse Education Loan For Abroad Studies
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:
| Features | Education Loan Details |
|---|---|
| Loan amount | Upto ₹2Cr (Collateral) Upto ₹1Cr (Without Collateral) |
| Margin money | Nil |
| Processing fee | 0.5% to 1.0% + GST |
| Processing time | 5 Days |
| Loan tenure | 15 Years |
| Prepayment charges | Charges applicable for early repayment (varies from case to case). |
| Repayment holiday | For principal payment, 6 months after course completion |
| Countries covered | USA, Canada, UK, Ireland, New Zealand, Australia, Germany and others |
| Payment study period | Yes, partial interest, simple interest, direct EMI. |
Looking for
Faster and
streamlined Process?
100% Transparency
100% Free
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.
Eligibility Criteria to Apply for Avanse Education Loan
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:
| Type | Requirement |
|---|---|
| Age Requirement | You must be at least 18 years of age while applying for the Avanse education loan. |
| Confirmed Admission | You must have an admission letter from the desired university you are applying for. |
| Academic Excellence | A 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 & Countries | Avanse 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 Eligibility | A 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. |
Benefits of Avanse Study Abroad Loan
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?
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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Need Guidance Faster? Call us at:
18001217661
How to Apply for an Avanse Abroad Education Loan?
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 forFaster and
streamlined Process?
100% Transparency
100% Free
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.
Documents Required for an Avanse Education Loan
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:
| Type | Documents Required |
|---|---|
| Personal Documents | 1. 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 Documents | 1. 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 Documents | 1. 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 Documents | 1. 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.) |
Avanse Education 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.
The displayed EMI amount is approximate & is subject to change based on various factors.
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