Interest Rate
Starting from 10.75%
Processing Fees
1% - 1.5%
Margin Money
Nil
Simple FIVE step digital process to get a education loan
Use our free tool to verify your eligibility and receive conditional loan offers.
Connect with our dedicated loan counselor for a better understanding of the process.
Submit your documents or complete the necessary forms for bank verification and evaluation.
GyanDhan expert's negotiate to secure the most competitive interest rates and the highest possible loan amount for you.
Recieve your final approval and sanction letter, ensuring prompt fund disbursement from the lender
All you need to know about Avanse bank education loan for studying abroad
Study Abroad Expert
Avanse Financial Services is a Non-banking Financial Company (NBFC). They offer education loans to students who want to pursue their higher studies in India or abroad. The company offers customized loan solutions for a wide range of courses and universities and aims to make the loan application process as smooth and hassle-free as possible.
Avanse education loan for studies abroad covers 2000+ universities and colleges, and 27,000 pre-approved courses across 50+ countries. Avanse loan provide pre-visa disbursement loans, pre-admission loans, bridge loans, fast-track loans, and score-based benefits, and ensure that the applicant faces no financial issues while studying abroad to elevate their career to the next level.
| Feature | Description |
|---|---|
|
Loan amount |
Up to INR 50 Lakh |
|
10.50% - 13.5% |
|
|
Processing fees |
0.5 - 1% |
|
Processing time |
7-10 days |
|
Nil |
|
|
Course duration + 1-year |
|
|
Repayment tenure |
15 years |
*Moratorium period is the time duration during which you are not required to make payments toward your education loan.
*Margin money refers to the amount of money that a borrower is required to contribute towards the loan, while the remaining amount is paid by the lender.
Avanse Fin offers both secured and unsecured loans for study-abroad students. One of the unique features of Avanse is its customer-centric approach. Please note that if you are applying for an Avanse education loan without collateral options is not available for the Bachelor’s course.
The applicant must be at least 18 years of age or older at the time of application. The student should have secured admission to a recognized university.
The applicant should have a good academic record and must meet the minimum academic criteria set by the lending institution. Also, the student must appear for the required tests such as GRE, IELTS, or TOEFL. Please note for the US, GRE plays a vital role in securing an education loan.
The loan applicant must have a co-applicant, who could be the applicant’s mother, father, sister, brother, spouse, paternal or maternal relative, or a legal guardian, with a regular source of income and good credit history.
Under this scheme regular graduate degree/post-graduate degree/diploma/certificate/doctorate courses in any discipline offered by foreign Institutes/Universities in the USA, UK, Canada, Australia, New Zealand, France, Germany, Ireland to name a few will be covered under the scheme.
Education loan Avanse Financial Services have interest rates that range from 10% to 16.5% at the moment, depending on your course profile, credit score, loan amount, and availability of collateral.·
The Avanse interest rate is based on the variable Avanse Base Rate, which is currently at 14.25 percent. Depending on the state of the market, this rate may fluctuate during the loan term.
Education loan Avanse provides a study period plus an extra 6 months or 3 months after you start working, whichever is sooner. This is known as a moratorium or a holiday period during which no repayments are necessary.
Additionally, you have flexible repayment options to suit your needs and can begin making payments during the actual moratorium.
While you're studying, you can begin making monthly principal and interest payments right away.
While you are studying, you can only pay the interest amount. After the moratorium, you will begin making full principal and interest payments.
During your studies, you can settle the interest on a portion of your education loan.
Avanse provides education loans with a maximum 15-year loan term.
| 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 |
|
INR 30K |
INR 35K |
INR 35K |
|
|
Monthly installments during the course |
Partial simple interest |
Partial simple interest |
Simple interest |
|
Processing fee |
1% |
1% |
1% |
| 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 fee |
1% |
0.75 - 1% |
0.75 - 1.25% |
1 - 1.5% |
Note:
Avanse Financial Services charge a mandatory credit life insurance premium that is around 1.25 - 1.5% of the loan amount.
An optional overseas health insurance premium of approximately INR 40K is also charged by Avanse loan.
GyanDhan provides a customized documents list for education loans, depending on your profile, and your co-applicant profile.
1. Identity proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.
2. Education loan application form.
3. Address proof: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill/ driving license/ Aadhaar card.
4. Passport.
5. Past academic record.
• 10th standard mark sheet
• 12th standard mark sheet
• Undergraduate result (semester-wise)
6. Entrance exam results (e.g. GMAT, GRE, TOEFL, etc.)
7. Proof of admission: admission letter (A conditional admission letter is also applicable).
8. Statement of expenses.
9. 2 passport-size photographs.
10. Loan A/C statement of one year (if applicable).
11. Bank account statement of the student (if applicable).
1. Identity proof: PAN/ Passport/ Driver’s license/ Voter ID card or government-issued identification document.
2. Address: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill or copy of passport/ driving license/ Aadhaar card.
3. 2 passport-size photographs.
4. If any previous loan is from other banks/ lenders, then the loan A/C statement of 1 year.
5. Legal documents of the collateral/ property documents.
6. Bank account statement of the co-borrower/guarantor, for the last 6 months (in case of takeover of education loan).
1. Salary slips for the last 3 months
2. Copy of Form 16 of the last 2 years or copy
3. Bank account statement for the last 6 months (Salary account)
4. Brief statement of assets & liabilities of parent/ guardian/ other co-borrower
1. Business address proof
2. Last 2 years IT returns (If IT Payee)
3. TDS certificate (Form 16A, if applicable)
4. Certificate of qualification (for C.A./ doctor and other professionals)
5. Brief statement of assets & liabilities of parent/ guardian/ other co-borrower
6. Bank account statement for the last 6 months
To contact Avanse for study abroad-related inquiries, you can use the following methods-
Email - You can get in touch with Avanse over email. Send an email to Avanse's customer support team at wecare@avanse.com. Include all relevant details about your profile, and they will provide a response tailored to your needs.
Online application form -Â You can complete an online application form at the Avanse website (https://www.avanse.com/). Later, Avanse will evaluate your profile and proceed with the necessary steps.
Branch visits -Â For a more personal approach, you have the option to visit the nearest Avanse branch in your city or locality. Avanse's head office is situated in Mumbai, and they have additional offices in various cities across India, including Bangalore, Delhi, Ahmedabad, Chennai, Hyderabad, and Chandigarh.
If you prefer a more convenient approach and want to avoid the hassle of physically visiting branches and dealing with complex application forms, you can apply for an education loan through GyanDhan, an education financing platform that specializes in assisting students in securing funds for their higher education abroad. Our dedicated counselors will carefully evaluate your profile and recommend the most suitable lenders for your specific loan requirements. Furthermore, our expert counselors will provide ongoing support throughout the loan process and will be readily available to address any concerns or challenges that may arise. To assess your eligibility, you can click here.
At GyanDhan, we are committed to providing you with the best education loan in the market. Our aim is to secure the best deal possible for you. However, if you come across a better offer elsewhere, we will cover the difference in interest rates for the ENTIRE duration of your education loan.
GyanDhan officials coordinate with various departments within Avanse Finance and escalate the process and get a loan approval in just 5-7 days. This is why thousands of students trust us with their loan requests every year. If a student applies directly to the NBFC, the usual loan processing time is around 10-12 days.
GyanDhan’s services for applicants are absolutely free. We do not charge any kind of processing fees or commissions from the applicants at all.
In case of any hurdles regarding documentation or application, GyanDhan intervenes and resolves the problem by coordinating with the officials at Avanse.
If you directly apply for an Avanse education loan you might face several challenges but with GyanDhan all you need to do is check your eligibility at GyanDhan’s website and if you are eligible then all you need to do is relax because you will be assigned a dedicated education loan counselor.
If you are looking to obtain an education loan from Avanse, you can apply online through their website. However, for a hassle-free and fast application process, you can apply for your education loan through GyanDhan.
GyanDhan is an online platform designed to assist Indian students in financing their education abroad and can help you get your education loan approved in just four uncomplicated steps.
| Feature | With GyanDhan | Without GyanDhan |
|---|---|---|
|
Personalized document checklist according to profile & area |
Yes |
No |
|
Branch visits |
0 |
3-4 |
|
Pre-visa disbursements |
Easy |
Difficult |
Empowering students to overcome education loan obstacles
Multiple lenders to choose from
