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Get the Funds You Need to Achieve Your Academic Aspirations!
- The Answer to All Your Education Expenses
"You have to dream before your dreams can come true. - A. P. J. Abdul Kalam
You've done almost all the hard work to turn your dream into reality. We can help you cross the finish line. With an Avanse education loan in India, you can focus on your course in the institute of your dreams and we'll take care of all the finances. From college tuition to living expenses, we'll help you deal with all the costs!
We've made the education loan application process super smooth. Start your educational loan application with a few easy clicks and we'll have a loan consultant call you to guide you through the education loan process. Should you require a face-to-face meeting, we'll have an executive come over with all the paperwork you need. Remember, we're more than just education loan providers - we're your education financing partner for the future!
Why Choose Education Loans?
Looking for financing options for your higher education can seem like an overwhelming decision.
If you're not sure why you should opt for an education loan, here are a few good reasons to convince you:
Better Financial Planning
With education loans, your family's finances remain intact. So, they do not have to worry about managing medical emergencies or saving for retirement after paying for your education.
Earn the Self-Made Badge
With an education loan in India, you manage the expenses independently. You can pride yourself on being 100% self-made!
Better Credit Score
An education loan allows you to build a credit score right from the time you turn 18. With a good credit score, you can secure the best deals on future loans.
Proof of Funds
Your education loan allows you to show your college the proof of funds. It also helps you pay for living and travel expenses without breaking the bank.
Easy Repayment
You get more than enough time to secure employment before you need to start repaying your education loan!
Why Choose Avanse?
100% Finance
Our education loans cover your course fee, the cost of books, housing, travel and even your college laptop! You don't have to worry about anything except getting your degree.
Customised Loans
Every student, course and university is different. So, we provide tailored educational loans to meet your unique needs.
Limitless Loans
From business schools in India to engineering colleges abroad, we cover all your financial expenses with our educational loans!
Flexible Repayment Options
We offer repayment options that you can customise based on your financial needs. With Avanse, you're on your way to financial independence.
Fast-Track Loans
Sometimes, you need to show proof of funds before you can secure your admission and apply for a visa. We process your educational loan paperwork with lightning speed, so you have everything you need to start your higher studies.
End-to-End Support
Students need more than money to turn their dreams into reality. We also offer financial guidance and several other resources to help you make informed decisions.
Quick Applications
You can ease your loan process with an online education loan. Apply via the website to complete the process from the comfort of your home. Our executives provide doorstep services, ensuring your online education loan application is ready on time!
Are you wondering how to apply for an education loan?
Apply Now
Are you wondering how to apply for an education loan?
Apply Now
Factors to Consider Before Applying for an Education Loan
Many students may have a question - how to get an education loan? You have to consider a few things before applying for an education loan in India. Let's take a look at what they are:
Find the Right Course and Institute
When the time comes to pick a career, you need to be sure of what you're doing. Education loans are long-term commitments, so you must ensure that you're headed in the right direction. Once you know what you want to do, check if you can get an educational loan to help finance your future. Most financiers provide a loan for education for certified courses at reputed institutes. You need to check whether your course and institute meet the minimum requirements.
Understand Your Eligibility
Your education loan eligibility also depends on your co-borrower’s financial background to some extent. Your current financial standing and your family’s annual income will be considered during your loan application evaluation. When you opt for an education loan without collateral, your eligibility will help the lender understand the best loan amount for you and your needs. It’s a good idea to consult an education loan expert and understand your eligibility and possible education loan rate of interest before you apply for an education loan.
Maintain a Good Academic Record
If you think you’d like to apply for an education loan for your higher education, you need to maintain a good academic record. If you’ve consistently performed well in school, we can offer you better rates and loan amounts for your educational loan. With a good record, you can improve your chances of getting the education loan sanctioned.
Get Your Documents in Order
Before you can apply for an education loan, you should know what documents you need to submit along with the application. When you get your papers in order, you can benefit from instant education loan approvals. If you do not have some education loan documents, your educational loan application can get delayed.
Consider the Processing Time
At Avanse, we can do our best to complete the education loan procedure as quickly as possible. But you must allow us enough time to complete all our loan approval processes. We require a few days to check all your paperwork and disburse the amount to you. If you require the funds urgently, you can apply for fast-track education loans, but even that could take a couple of days. So, you must apply for education loans in advance to avoid delays.
Understanding Your Needs – Opting for an Education Loan Without Collateral
When applying for your education loan, you must evaluate whether you should opt for a secured loan or one without collateral. Lenders often limit the amount when you apply for an unsecured loan. At Avanse, we offer up to 100% financing without collateral. We evaluate your past academic history, course ranking, future employability and your family’s credit history before sanctioning unsecured loans.
Use Our Education Loan EMI Calculator
Want an estimate of your education loan EMI? Let us know a few detailsand we’ll help you!
Total Loan Amount
0
Principal Amount
Total Interest
Your Education Loan EMI will be 12,668
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Understanding Your Education Loan Eligibility
Applying for a loan can be daunting. Nobody wants to face rejection, especially if their future depends on it. To avoid uncomfortable situations, you should always check the education loan eligibility criteria in advance. Understanding the education loan age limit and other minimum requirements can make the application process quick and easy. Let’s look at the eligibility criteria for education loans. If you want an education loan, you must fulfil the following criteria:
- Be an Indian citizen who is 18 or older
- Have a confirmed admission before the final disbursal
- Have a co-borrower who earns in India
Co-borrowers also need to meet the following loan for education eligibility criteria:
- Be an Indian citizen and should be a parent, legal guardian, sibling or other blood relative
- Have a bank account in India that allows them to sign cheques
- Be the primary debtor
Understanding Your
Loan for Higher Education
- Documentation Required
- The Loan Process
What Are the Documents Required for Education Loan?
When you apply for a loan, you must have all your paperwork ready to avoid delays or unnecessary rejections. The same stands true for an education loan. Apply online only after you spend some time getting your education loan documents ready. The lender will ask for:
- Your KYC and educational documents
- Details about your course and fees
- Your co-borrower's KYC and income details
- Collateral documents, if any
While applying for an education loan, you must also submit the following documents:
| Documents | Applicant | Co-Applicant | Additional Co-Applicant | Guarantor |
|---|---|---|---|---|
| 2 Colour Passport-sized Photos | ||||
| Photo ID | ||||
| Residence Proof | ||||
| Date of Birth Proof | ||||
| Signature Verification | ||||
| Academic Documents | ||||
| Proof of Admission | ||||
| Fee Structure | ||||
| Income Proof | ||||
| Collateral Documents | ||||
| 8-month Bank Statement | ||||
| Relationship Proof |
Understanding the Education Loan Process
Congratulations on choosing a loan for education. Once you have your documents ready, you can go ahead and get the education loan procedure started. You have to follow these steps:
Step 1: Apply
You can  apply for student loan online by completing the online application form.
Step 2: Speak to a Consultant
Our Avanse education loan consultants will contact you and talk you through the process.
Step 3: Submit Your Documents
Next, submit your documents. Our consultants will send you a list of what they need to process your application.
Step 4: Receive the Amount
With all the paperwork done and dusted, we’ll transfer the money to your institution or bank account, as required. Remember, we need a confirmed admission before disbursing the entire loan amount.
Frequently Asked Questions
It's okay to have questions, because we've got answers!
To apply for an education loan, you must find a lender. Once you fill out their application form, share the requisite documents and meet all the eligibility criteria, your loan will get approved, and the amount will be disbursed. To get started with your education loan process, click here.
When you opt for an education loan, you benefit from 100% financing. You get funds to cover your education-related expenses. Additionally, you enjoy student-friendly interest rates, flexible repayment options and help with your application paperwork. A student loan is a fantastic way of earning a self-made badge and building a healthy credit score.
It will vary depending on the lender, and multiple other elements, such as the availability of the documents. As a student-centric organisation, at Avanse Financial Services, we provide quick sanctions within 72 hours, provided you meet our preset eligibility criteria.
When you have to start repaying your education loan, you need to contact your bank. They can help you set up an auto-debit feature so that the monthly instalments get paid to your lender.
Yes, you can get a loan for education without collateral. Before approaching a lender, you must decide whether you want a secured or unsecured loan. You may offer your residential property, life insurance policy, or non-agricultural land as collateral for your loan. Lenders will evaluate the collateral documents for education loan and provide a loan amount and education loan rate of interest accordingly.
If you don't have anything to offer as security, don't worry! You can opt for a non-collateral education loan instead. When you partner with Avanse, you can get an education loan for abroad studies without collateral. We believe every student deserves a chance to access the world's best education. After evaluating your previous academic records and your family's financial history, we will offer you a security-free education loan.
Although unsecured loans are available, you cannot get an education loan without collateral and co-applicant. When you apply for an education loan, you must have a financially strong co-applicant or guarantor.
Many banks limit your loan amount when you choose an education loan without collateral. At Avanse, we evaluate each case and let you know the maximum loan amount you can take. We also have a handy education loan eligibility calculator that helps you understand the loan amount you can apply for without worrying about rejection.
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Base Lending Rate
We always aim to offer you competitive interest rates on your Avanse Education loan. The rate of interest on your loan is calculated as: Interest Rate = Avanse Base Rate + Spread.
Our current Base Rate is 14.25% (WEF 01.05.2023).
The Spread is floating and is based on analysis of overall credit and course profiling.
- Rate of interest on student loan will be floating in nature.
- Interest is calculated using Simple Interest Rate with Monthly rest.
This rate is subject to the terms and conditions of Avanse Financial Services Ltd.
