Auxilo Education Loan Disbursement Process: A Complete Guide

Many students live under the misconception that getting the loan approved and a sanction letter is the final stage of the education loan process. Little do they know that getting an education loan sanction letter is not where the story ends. Not only this, but a sanction letter is actually valid for only 6 months, and if you do not raise a disbursement request within that time frame you might have to redo the entire process. Well, understanding the education loan disbursement process can help potential borrowers like you navigate through the process like a pro and dodge any potential obstacles.

Keep reading below to learn more about the step-by-step disbursement process of Auxilo Finserve. 

Features of Education Loan from Auxilo

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Step-by-Step Guide for the Auxilo Education Loan Disbursement 

To ensure a smooth deposit of funds in your accounts or your university account, borrowers must understand how Auxilo education loan disbursement works. Here's a comprehensive guide to help you understand each step involved in obtaining your Auxilo education loan, ensuring you have the support you need every step of the way.

Step 1: Connect Early

The moment you start considering an abroad education loan, it's the perfect time to reach out to Auxilo. We understand that you might have many questions and concerns. Our loan officers are here to listen and provide you with all the information you need to make an informed decision about your education loan.

Step 2: Personal Discussion and Customized Loan Plan

Once you're interested in knowing more, loan officers at GyanDhan will schedule a personal discussion with you. During this chat, we'll delve into details like your desired course, educational background, academic achievements, and your chosen institution. With this information, Auxilo will tailor a unique loan plan specifically for you, ensuring it aligns perfectly with your educational goals.

Step 3: Document Submission

Ready to move forward with the loan process? You'll need to provide some essential documents, including details about your educational institution, admission dates, course specifics, and any other relevant information. This step is crucial for verifying your information and expediting the borrowing process.

Step 4: Loan Structuring

After your documents are validated and your enrollment at the chosen institute is verified, the lender proceeds to the loan structuring phase. This step involves creating a customized loan plan that meets all your needs. Once the Auxilo abroad education loan sanction letter is released they propose a loan structure that caters to your specific requirements, ensuring you get the best possible support for your studies.

Step 5: Loan Disbursal

Once all documents are submitted and verified, we move to the disbursal stage. Here, we may require some additional formalities, such as post-dated cheques. The tuition fees will be directly transferred to your educational institution, while the living expenses will be credited to your account. This ensures a smooth and hassle-free start to your academic journey.

Documents Required for the Auxilo Education Loan Process 

Theeducation loan process needs a comprehensive set of documents, and one must keep all the document requirements handy before moving ahead with the loan process. Any delay in furnishing the original document will only affect the loan approval time, which might lead to further delays in admissions.

Applicants' documents:

• Identity proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.
• Education loan application form.
• Address proof: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill/ driving license/ Aadhaar card.
• Passport.
• 10th standard mark sheet
• 12th standard mark sheet
• Undergraduate result (semester-wise)
• Entrance exam results (e.g. GMAT, GRE, TOEFL, etc.)
• Proof of admission: admission letter (A conditional admission letter is also applicable).
• Statement of expenses.

Co-applicant’s documents:

• Identity proof: PAN/ Passport/ Driver’s license/ Voter ID card or government-issued identification document.
• Address: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill or copy of passport/ driving license/ Aadhaar card.
• 2 passport-size photographs.
• Bank account statement of the co-borrower/guarantor, for the last 6 months (in case of takeover of education loan).

Income proof for salaried co-applicant/guarantor:

• Salary slips for the last 3 months
• Copy of Form 16 of the last 2 years 
• Bank account statement for the last 6 months (Salary account)
• Brief statement of assets & liabilities of parent/ guardian/ other co-borrower

Income proof for self-employed co-applicant/ guarantor:

• Business address proof
• Last 2 years IT returns (If IT Payee)
• TDS certificate (Form 16A, if applicable)
• Certificate of qualification (for C.A./ doctor and other professionals)
• Brief statement of assets & liabilities of parent/ guardian/ other co-borrower
• Bank account statement for the last 6 months

Watch this video, to understand the disbursement process at Auxilo Finserve.

Benefits of Auxilo Education Loan

Auxilo has made a name for itself by allowing students to study abroad at the most convenient terms of borrowing. The loan process is very fast, and the entire process gets completed within a week. We will be discussing some of the salient features of abroad education loans from Auxilo.

• Loan Amount: There is no cap or upper limit on the loan that a student might ask for their abroad education. Abroad education is costly, and Auxilo keeps this in mind, so there is no upper limit on the extent of a loan that can be granted. 
• Interest Rate: The interest rate for an abroad education loan is calculated by this basic formula: The Base Rate of Auxilo+ Spread. The spread is usually calculated by considering the profile of the student, the institution where they are planning to study, the selection of course, and any other factor that Auxilo may consider for approval of the loan.  
• The extent of Coverage by the Loan Amount: The extent of expense coverage provided by the loan is one of the crucial aspects that is usually considered by the borrowers planning to take an abroad education loan. Auxilo understands this and covers all the expenses that a student might have at the time of their studies abroad. The loan by Auxilo covers tuition fees, living expenses, examination fees, travel expenses, etc. So, the Auxilo loan rules out any margin money, and everything is covered under the loan.  
• Pre-Visa Disbursement of Loans: There are several countries that ask for the disbursal of loans before applying for visas. Auxilo loans are available for pre-visa disbursement. Depending on the choice of country, the loans are disbursed for Australia, Canada, New Zealand, etc., where pre-visa disbursement is an essential condition.  
• Customized Loans: The loans are customized as per the needs of the student. The loan officers at Auxilo hold meetings with potential borrowers and then give a customized loan option. The loan amount can be different for students depending on the country where they are planning to pursue higher education. So, Auxilo doesn’t work on a “one size fits all” approach.  
• More than One Co-Applicant: Auxilo understands the needs and the financial capacity of a student. Every student can’t have one co-applicant who can take care of the interest payments and take all the risks. So, Auxilo helps students who don’t have the financial means to take care of the loan with just one co-applicant and allows multiple co-applicants to reside in multiple cities.  
• Repayment of Loan: The Auxilo abroad education loan repayment is flexible. The Auxilo loan repayment time is usually ten years which is pretty good, as the interest rate is high, so longer repayment time translates to costlier loans.  
• Broad Range of Courses and Country: Auxilo offers loans for a wide range of courses that other financial institutions might not cover. Also, Auxilo doesn’t restrict itself to giving loans to only a definite set of countries. They provide loans for almost all the countries where Indian students go for higher education. 

Securing an education loan can often feel like navigating through a maze, but with Auxilo's clear and supportive process, your path to studying abroad becomes significantly smoother. From the initial consultation to the final disbursement, Auxilo ensures that every step is tailored to your unique needs, providing you with the financial backing to pursue your academic goals without unnecessary stress.

By following this comprehensive guide, you are now well-equipped to understand and undertake the Auxilo education loan process with confidence. Remember, the journey to your dream institution is not just about getting there but also about having the right support along the way. With Auxilo by your side, you can focus more on your studies and less on the financial complexities.

At GyanDhan, we are committed to helping students like you achieve their educational dreams. Whether you need more information, personalized advice, or further assistance with your education loan, GyanDhan is here to support you every step of the way. Check your loan eligibility today and together we can make the journey to your dream education a seamless and exciting adventure.

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