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Avanse Education Loan

Receive expert, personalized guidance at no cost from VITTIYA to navigate education financing, ensuring a smooth journey to securing the funding you need for your studies in India or abroad.

Interest Rate

Starting from 10.75%

Processing Fees

1% – 1.5%

Margin Money

NIL

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The Process Explained

How It Goes

Easy 5-Step Digital Journey to Secure Your Education Loan

Study Abroad

Avanse Bank Education Loan for Abroad Studies

All you need to know about Avanse bank education loan for studying abroad

Key Highlights

Experience the Journey

Avanse Financial Services, a top NBFC, offers education loans for students studying in India or abroad. With tailored loan solutions for a wide range of courses and universities, Avanse simplifies the loan process. Their loans cover 2000+ institutions and 27,000 courses across 50+ countries, offering options like pre-visa disbursement, pre-admission loans, and fast-track loans. These flexible options ensure students can pursue their education abroad without financial worries.

Discover more
Overview of the Avanse Education Loan
Feature
Description
Loan Amount
Up to INR 50 Lakh
Rate of interest
10.50% - 13.5%
Processing fees
0.5 - 1%
Processing time
7-10 days
Margin money
NIL
Margin Money
0 - 15%
Moratorium period
Course duration + 1-year
Repayment tenure
15 years
Moratorium period refers to the time during which you are not required to make any payments on your education loan.

Margin money is the amount the borrower must contribute towards the loan, with the lender covering the rest.

Avanse Financial Services offers both secured and unsecured loans for students pursuing education abroad. A key feature of Avanse is its customer-focused approach. However, please note that collateral-free loans are not available for Bachelor’s degree courses.
Avanse education loan eligibility criteria
  • Age The applicant must be at least 18 years old at the time of application and should have secured admission to a recognized university.
  • Academic performance The applicant should have a strong academic record and meet the minimum criteria set by the lender. The student must also take necessary tests like GRE, IELTS, or TOEFL. For studies in the US, GRE is particularly important in securing an education loan.
  • Co-applicant The applicant must have a co-applicant, which can be a parent, sibling, spouse, relative (either maternal or paternal), or legal guardian. The co-applicant should have a stable income and a positive credit history.
  • Course and country of study This loan covers a wide range of courses including regular graduate, post-graduate, diploma, certificate, and doctorate programs offered by universities or institutions in countries like the USA, UK, Canada, Australia, New Zealand, France, Germany, Ireland, and more.
    • Avanse Education Loan Interest Rate

    Avanse Financial Services offers education loans with interest rates between 10% and 16.5%, depending on factors like course profile, credit score, loan amount, and collateral. The rate is linked to the variable Avanse Base Rate, currently at 14.25%, and may fluctuate based on market conditions.

    Avanse Education Loan Interest Rate

    Avanse offers a moratorium period for education loans, which includes the study period plus an additional 3 to 6 months after you start working, whichever comes first. During this time, no repayments are required.

    You also have flexible repayment options. While studying, you can choose to pay only the interest on the loan. After the moratorium period, full repayment of both principal and interest begins.

    Avanse provides education loans with a maximum repayment term of 15 years.

    Avanse Education Loan for the US
    Feature
    GRE > = 310
    GRE 300 = < 310
    GRE 285 = < 299
    Avanse education loan interest rate
    12.25 - 12.75%
    12.75% - 13%
    13 - 14%
    Loan amount
    Up to INR 50 Lakh
    Up to INR 40 Lakh
    Up to INR 35 Lakh
    Co-applicant minimum income
    INR 30K
    INR 35K
    INR 35K
    Monthly installments during the course
    Partial simple interest
    Partial simple interest
    Simple interest
    Processing fee
    1%
    1%
    1%
    Avanse Education Loan for Other Countries
    Feature
    Australia / New Zealand
    Canada
    UK
    Germany / Ireland / France / Italy
    Avanse education loan interest rate
    12.5 - 12.75%
    12.5 - 13%
    12.5 - 13.5%
    12.5 - 13.5%
    Loan amount
    INR 40 Lakh
    INR 20 - 25 Lakh
    INR 40 Lakh
    INR 20 Lakh
    Co-applicant minimum income
    INR 35K
    INR 35K
    INR 40K
    INR 40K
    Monthly installments during the course
    Partial simple interest
    Simple interest / Partial simple interest
    Simple interest / Partial simple interest
    Simple interest
    Processing Fees
    1%
    0.75 - 1%
    0.75 - 1.25%
    1 - 1.5%
    Note:
  • Avanse Financial Services charges a mandatory credit life insurance premium of approximately 1.25% to 1.5% of the loan amount.
  • An optional overseas health insurance premium, approximately INR 40,000, is also available for students pursuing education abroad with Avanse.
    • Documents Required for Avanse Education Loan
    Vittiya provides a customized documents list for education loans, depending on your profile, and your co-applicant profile.

    Applicant’s Documents:
  • Identity Proof: PAN, Passport, Driver’s License, Voter ID, or any government-issued identification.
  • Education loan application form.
  • Address Proof: Recent telephone bill, electricity bill, water bill, piped gas bill, driving license, or Aadhaar card.
  • Passport.
  • Academic Record:
  • 10th and 12th standard mark sheets.
  • Undergraduate semester-wise results.
  • Entrance Exam Results (e.g., GMAT, GRE, TOEFL).
  • Proof of Admission: Admission letter (conditional letters are accepted).
  • Statement of Expenses.
  • Two passport-size photographs.
  • Loan account statement of one year (if applicable).
  • Bank account statement of the student (if applicable).

    • Co-applicant’s Documents:
  • Identity Proof: PAN, Passport, Driver’s License, Voter ID, or any government-issued identification.
  • Address Proof: Recent telephone bill, electricity bill, water bill, piped gas bill, or copy of passport, driving license, or Aadhaar card.
  • Two passport-size photographs.
  • Loan Account Statement of 1 year (if applicable).
  • Legal Documents of Collateral (if applicable).
  • Bank account statement of co-borrower/guarantor for the last 6 months (if applicable).

    • Income Proof for Salaried Co-applicant/Guarantor:
  • Salary slips for the last 3 months.
  • Copy of Form 16 for the last 2 years.
  • Bank account statement for the last 6 months (salary account).
  • Brief statement of assets & liabilities of co-borrower/guardian.

    • Income Proof for Self-employed Co-applicant/Guarantor:
  • Business address proof.
  • Last 2 years of income tax returns (if applicable).
  • TDS Certificate (Form 16A, if applicable).
  • Certificate of qualification (for professionals like CA, doctor, etc.).
  • Brief statement of assets & liabilities of co-borrower/guardian.
  • Bank account statement for the last 6 months.
    • How to contact Avanse for an education loan?
    To contact Avanse for study abroad-related inquiries, you can use the following methods:
  • Email: Reach out to Avanse’s customer support team at wecare@avanse.com. Provide all relevant details about your profile, and they will respond with tailored assistance.
  • Online Application Form: Visit the Avanse website (https://www.avanse.com/) to complete the online application form. Avanse will evaluate your profile and guide you through the next steps.
  • Branch Visits: If you prefer a more personal approach, you can visit the nearest Avanse branch in your city or locality. Avanse’s head office is located in Mumbai, with additional offices in cities such as Bangalore, Delhi, Ahmedabad, Chennai, Hyderabad, and Chandigarh.

    • For a more convenient loan application, you can apply through an education financing platform that specializes in helping students secure funding for higher education abroad. Dedicated counselors will evaluate your profile, recommend suitable lenders, and provide ongoing support throughout the loan process.
    Benefits of getting your Avanse education loan through Vittiya
    Guaranteed Best Deal
    We ensure you get the best education loan offer. If you find a better deal elsewhere, we’ll cover the interest rate difference for the entire loan term.

    Fast Approval
    Our team works swiftly with Avanse to secure loan approval in 5-7 days, compared to the usual 10-12 days for direct applications.

    Free Services
    We provide our services at no cost, with no processing fees or commissions.

    Higher Approval Chances
    We assist with any documentation or application issues by coordinating with Avanse.

    Hassle-Free Process
    Check your eligibility online and, if approved, a dedicated counselor will handle the rest.
    How to apply for an Avanse education loan via Vittiya

    To apply for an education loan from Avanse, you can apply directly on their website. However, for a smoother and quicker application process, you can apply through an education financing platform that specializes in helping students secure loans for their studies abroad.

     

    This platform helps you secure approval with just four simple steps, making the entire process more efficient and stress-free.

    The Vittiya effect in Avanse education loan
    Feature
    With Vittiya
    Without Vittiya
    Personalized document checklist according to profile & area
    Yes
    No
    Branch visits
    0
    3 - 4
    Pre-visa disbursements
    Easy
    Difficult
    yOUR ANSWER

    Frequently Asked Questions

    Candidates can get a Avanse education loan without an account, even if parents are deceased, with simple EMI calculations and no prepayment fees.

    What is the maximum loan amount one can get from Avanse education loan?

    You can avail up to INR 50 Lakh (without collateral) and INR 80 Lakh (with collateral), with the possibility of an increase based on course fee, study destination, and co-applicant income.

    Interest rates typically range from 10.75% to 13.0% for the US, and 10.75% to 12.0% for other countries, depending on the college or university.

    The Avanse education loan repayment is up to 15 years.

    No, there is no penalty on prepayment after 6 months of disbursement.

    Yes, Avanse offers education loans upto INR 75 Lakh without collateral.