| Interest Rate | Grace Period | Margin Money |
| 14.55% | Course Period + 6 Months | No Margin Money |
Table of Contents:
- Avanse Education Loan for Abroad Studies
- Avanse Education Loan Interest Rate
- Avanse Education Loan Without Collateral
- Documents Required for Avanse Education Loan
- Frequently Asked Questions
World-class education, global exposure, and better career opportunities are some of the top reasons why students choose to study abroad. However, managing expenses in a different country is quite often a challenge. This is where the Avanse Education Loan comes in. Avanse offers education loans to students for up to 100% of the cost of studying and living abroad.
Avanse Education Loan for Abroad Studies
Avanse is a leading NBFC offering loans to students planning to study abroad. Students can secure 100% funding for tuition fees, living expenses, travel, and other educational costs. The key features of Avanse education loan for abroad studies are as follows:
- Comprehensive Coverage: Education loan covers 100% of tuition fees, 75% of living expenses (max 20% of tuition fees), 100% of deposits (max 10% with valid receipts), and travel expenses up to ₹75,000.
- Flexible Repayment Plans: The grace period is 6 months from when you complete the course.
- Fast Processing & Disbursement: Quick loan approvals and amounts directly transferred to the institute or university.
- Global Coverage: Supports students enrolling in universities across the globe, such as the USA, the UK, Canada, Australia, Germany, and more.
- Loan Amount: The minimum loan amount for a loan is INR 1 lakh, while the maximum loan amount is 100% of the education loan.
Avanse Education Loan Interest Rate
Avanse offers a competitive rate of interest on a floating rate. The details are as follows:
- Interest rate is calculated based on: Interest = Avanse Base Rate + Spread.
- The current base rate is static at 14.55%.
- The spread changes based on overall credit and course profiling.
Avanse Education Loan Without Collateral
For students who wish to study abroad but lack security, Avanse offers education loans without collateral. These loans are ideal for students seeking educational support without pledging their properties, fixed deposits, or other security. Here are some key features of Avanse education loan without collateral:
- Avanse evaluates previous academic records and your family’s financial history.
- Without collateral, your loan amount and interest rate may be affected.
Documents Required for Avanse Education Loan
While applying for your study abroad education loan, you will have to provide the following documents:
- Student KYC and educational documents
- Course & fee details
- Co-borrower KYC & income details
- Collateral Documents
- 2 color passport-size photographs
- Photo ID
- Address proof
- Date of birth proof
- Signature verification
- 8-month bank statements and proof of relationship (co-applicant)
Frequently Asked Questions
Is Avanse a good option for education loans?
Yes, Avanse is a trusted NBFC that specializes in education loans. Avanse offers 100% financing, flexible repayment options, and quick processing for students planning to study abroad.
Does Avanse charge prepayment fees on education loans?
Avanse does not allow prepayment within the first 6 months from the loan disbursement. After 6 months, students can make prepayments as per loan terms.
What is the interest rate for Avanse education loans?
Avanse education loan interest rate is static at 14.55%. The interest rate is based on the overall credit and course profiling. The final rate is determined based on the applicant’s eligibility and loan terms.
Does Avanse provide education loans for studying abroad?
Yes, Avanse offers education loans for students planning to study abroad. Avanse covers tuition fees, living expenses, travel, and other education-related expenses.
Can I get an Avanse education loan for any country and course?
Avanse finances students pursuing undergraduate, postgraduate, diploma, and PhD programs in various countries, including the USA, the UK, Canada, Australia, Germany, and more.
