Interest Rate	Moratorium Period	Margin Money
15.10% + Spread	Course years + 6 – 12 months	0%

Table of Contents

Auxilo Education Loans Overview
Auxilo Education Loans Interest Rates
What are the Eligibility Criteria for an Auxilo Education Loan?
Documents Required for an Auxilo Education Loan
Repayment Process for Auxilo Education Loans
Conclusion: Apply for an Auxilo Education Loan
Frequently Asked Questions

Auxilo is an Indian NBFC working to empower Indian citizens through education. Its abroad education loans are offered in 1400+ universities across 25 countries, including the UK, the USA, Australia, New Zealand, and Europe. An Auxilo education loan can cover up to 100% of your educational and living costs abroad.

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Auxilo Education Loans Overview

Auxilo education loans offer score-based benefits to meritorious students, such as interest concessions. If your document review is successful, the loan processing time is typically 3 – 5 business days.

Maximum Loan Amount	Up to INR 40 Lakhs without collateral No cap with collateral
Interest Rates	15.10% + Spread
Margin Money	0%
Processing Fee	2% of the loan amount
Moratorium Period	Course years + 6 – 12 months
Repayment Period	Up to 10 years

Auxilo Education Loans Interest Rates

Auxilo interest rates are competitive and lower than those of international lenders.

Interest Rate = Auxilo Base Rate + Spread.

Auxilo’s current Base Lending Rate is 15.10%. The Spread rate changes with individuals based on course selection and profile credit reports.

The interest rate on Auxilo student loans is floating. The interest rates are calculated in Simple Interest, and monthly repayment will be required. Remember, Auxilo education loan interest rates are subject to revisions by Auxilo Finserv Pvt. Ltd.

What are the Eligibility Criteria for an Auxilo Education Loan?

Students who get admission abroad can apply for Auxilo education loans with a cosigner guarantee. The cosigner must have a minimum income specified by the lender and should not have existing loan dues.

Student

Be an Indian citizen, 18 years old or above.
Have a confirmed admission abroad before Auxilo disburses the education loan.
Have a co-signer in India.

Co-borrower

Be an Indian citizen and could be a parent, sibling, legal guardian, or relative of the student.
Have a bank account with cheque writing facilities in any bank in India.
The co-borrower must be ready to be the primary debtor.

Documents Required for an Auxilo Education Loan

The documentation part of your Auxilo education loan application must be completed without errors. Make a checklist of documents before you start the application to avoid the chances of a last-minute delay.

PAN Card	KYC Document – Valid Passport, Voter Identity Card, Driving License, NREGA Card, or Aadhaar Card
Self-attested photograph	Utility bill, property tax, pension statement, or other approved documents if your KYC has no updated address

Repayment Process for Auxilo Education Loans

Auxilo education loans offer up to a 10-year repayment period, including your course years.

Auxilo education loan repayment is commenced
Generally, 10 years is the repayment period
Like other NBFCs, InCred education loans are not eligible for tax benefits under Section 80 E of the Income Tax Act

Conclusion: Apply for an Auxilo Education Loan

Auxilo education loans have a comparatively easier application process than education loans from a bank. Meritorious students can get up to INR 40 Lakhs without collateral. Ensure you meet the eligibility criteria and have the specified documents to complete the application process without any hassles.

Check your education loan eligibility for Auxilo education loans! Connect with Nomad Credit for free guidance on profile evaluation, loan application, and documentation. Take advantage of the opportunity – connect with us today!

Check Your Auxilo Education Loan Eligibility with Nomad Credit

Frequently Asked Questions

What is the maximum amount of an Auxilo education loan?

There is no cap for Auxilo education loans with collateral. The maximum loan amount depends on your country and course choices. Without collateral, the maximum loan amount is up to INR 40 Lakhs.

Can you negotiate an Auxilo education loan interest loan?

You can negotiate with Auxilo on your education loan interest rate. If your academic and financial profiles are strong, you get better interest rates from Auxilo.

Do you get extended repayment tenure for an Auxilo education loan?

You can negotiate with Auxilo to extend or shorten your education loan repayment tenure. Typically, Auxilo education loans have a repayment period of 10 years.

Can students from any part of India apply for Auxilo education loans?

Students from anywhere in India can apply for a no-collateral education loan from Auxilo. However, collateral loans have geographic limitations, as property from all cities is not typically accepted. Connect with Auxilo to learn more about collateral education loans.

Can you get INR 20 Lakhs without collateral from Auxilo?

If you have an earning cosigner and strong academic credentials, you can get INR 20 Lakhs from an Auxilo education loan without collateral. The maximum loan amount without collateral from Auxilo can be up to INR 40 Lakhs.

Auxilo Education Loan for Abroad -A complete Guide | Nomad

Auxilo Education Loan

Feature	Detail
Loan Amount	100% COA INR 40 Lakhs for Unsecured Loans INR 1 Cr for Secured loans
Interest Rate	10.25% onwards
Interest Rate Type	Floating Rates
Minimum Income	Flexibility in Parents income
Repayment	Partial interest payment during the moratorium period
Processing Fees	0.5 - 1.5%
Margin Money	Up to 100% expenses are covered
Loan Tenure	Up to 12 years
Processing Time	7-10 days

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How Does an Auxilo Finance Student Loan Benefit Me?

Quality Help from A Trusted Leader in the Industry

Auxilo has transformed the aspirations of over 10,000+ students pursuing their study abroad higher education across 25+ countries, 1100+ universities.
Auxilo has been a driving force behind the growth of 150+ educational institutions.
Awarded As The “Best Education Loan Provider 2022" By National Awards For Leadership & Excellence
Awarded As the “Most Preferred Education Loan Provider” by Higher Education Digest
Appreciated Under “The Most Promising NBFC To Watch 2022." by Business Connect

Loan Assistance Catered to Your Specific Study Abroad Journey

Comprehensive Coverage: Get 100% financing for everything, from pre-admission costs to course fees, airfare, and more.
Irresistible Rates: Enjoy attractive interest rates that won't break the bank.
Flexibility is Key: Repay your loan on your terms with flexible options tailored to your convenience.
"Swift Loans in 24 hours” through this feature a student can easily do the following
1. Instant Access
2. Document Upload: Share your documents.
3. 24-Hour Approval: Get your loan sanctioned within a day

Straightforward Process with No Hassle

Customised loan options.
Loan sanctions are hassle-free and quick.
Repayment Duration Up to 12 years

Free Assistance from Nomad Credit

Nomad Credit will assist you in your entire loan option process completely free of charge

Am I Eligible for an Auxilo Education Loan?

Study Abroad Student Loan Eligibility

Age: Be at least 18 years old.
Citizenship: Must be an Indian citizen.
Admission Confirmation: Ensure you have admission confirmation.
Co-Borrower: Your application needs a co-borrower earning in India.

Co-applicant Requirements

To secure a loan, you'll need a co-applicant with:

Income Stability: They must have a steady source of income.
Positive Credit History: A good credit record is a must.
Relationship Flexibility: Co-applicants can be family members or legal guardians.
Wide Range: Eligible co-applicants include parents, siblings, spouses, and more.

What are my next steps?

Get started by registering your interest and telling us more about your study plans. Nomad Credit will help you get everything ready so that applying for funding is effortless.
Send us the required documents needed to process your loan option and Nomad will organize and send your file to Auxilo Finance if you are eligible.
A Nomad Education Loan Option Manager will provide you updates of when your loan option is successfully logged in and sanctioned.
Once you get your application and documents verified by the authorities at Auxilo, you can get your loan structured as per your needs.

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What documents do I need?

For Applicants:

PAN or Form No. 60 as defied in Income-Tax Rules, 1962
Know Your Customer (KYC) documents: Permanent Account Number (PAN) card, Aadhar card
Academic documents: SSC, HSC, graduation
Passport
Driving License
NREGA Card (National Rural Employment Guarantee Act)

If the documents mentioned above don't have an updated address, then the applicant can use the following documents:

Fresh Utility Bill: A bill from any service provider (electricity, telephone, post-paid mobile, piped gas, or water) dated within the last two months.
Tax Receipt: Present your property or Municipal tax receipt as a solid proof of address.
Pension PPOs: If you're a retired government or PSU employee, PPOs with your address are acceptable.
Employer's Allotment Letter: A letter of accommodation from certain employers, including government departments, regulatory bodies, and more, can also serve as valid proof

For Co-Applicant:

Salaried

Aadhar Card
PAN Card
Passport-sized photograph
Salary Slips / Salary Certificate (Last 3 months)
Income Tax Returns (Last 3 years)
6-month Bank Statement

Self- Employed

Aadhar Card
PAN Card
Passport-sized photo
Business Proof
Income Tax Returns (Last 3 years)
6-month Bank Statement

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Frequently Asked Questions

Who is eligible for an education loan?

Indian Residency: You must be an Indian resident.
Confirmed Admission: Secure admission to recognized institutions, in India or abroad.
Age Range: Your age should be 18 to 35 when applying.
Educational Pursuit: Pursue graduate/postgraduate degrees or PG diplomas.
Approved Institutions: Opt for colleges or universities affiliated with UGC/AICTE/Govt.
Co-Applicant Requirement: Full-time students need a co-applicant like a parent/guardian or spouse/parent-in-law.
Steady Income: Your co-applicant should have a stable income source.
Academic Record Matters: A strong academic record can expedite approval

Who qualifies as a co-applicant for my education loan application?

Your co-applicant can be your parents, siblings, parent-in-law, or spouse.

On what basis is my study abroad education loan evaluated?

Comprehensive Assessment: Auxilo employs a thorough evaluation process.
Key Parameters: Factors like university/course popularity and co-applicant's creditworthiness shape the eligibility criteria.

Is there a difference in the required documents for an education loan depending on the institution?

Common Requests: Most institutions will ask for documents like proof of where you live, your age, and your income.
Unique Needs: But, each institution might also have its own set of documents based on their specific eligibility criteria for student loans.

How to Improve Your Educational Loan Eligibility?

Ace Those Exams: Maximize eligibility by excelling in your qualifying exams. High scores open doors.
Choose Wisely: Opt for a renowned institute or university—top-tier choices boost your chances.
Academic Excellence: Showcase your strong academic track record as evidence of your commitment to education.
Future Promise: Demonstrate a bright future with potential for employment or income generation.
Financial Strength: A robust financial background from parents, guardians, or co-borrowers can enhance your eligibility.