Avanse Financial Services was founded in 2013 with a clear mission to make quality education accessible to every deserving Indian student. It is a modern, education-centric, and technologically advanced financial institution that offers tailored education financing solutions to help students achieve their academic dreams. Its commitment extends to democratizing education and making education-financing more inclusive. Avanse Financial Services provide comprehensive financial solutions that address the diverse needs of aspiring students. Additionally, they offer financing options to support operational and growth capital requirements of educational institutions across India.
Good Will of Global Investors
Avanse Financial Services enjoys the strong backing of leading global investors, who recognize the company’s potential to transform the education landscape in India. Warburg Pincus, a prominent global private equity firm, holds the majority stake in Avanse. Kedaara Capital, an operationally oriented private equity firm specializing in control and minority investments in India, and the International Finance Corporation (IFC), a member of the World Bank Group, are also significant shareholders in the organization.
Partnerships for Enhanced Reach
Avanse has established strategic partnerships with over 600 educational institutions across India, providing seamless access to education financing for students seeking to pursue higher education. These partnerships extend to leading universities, institutes of technology, and vocational training centers, ensuring that Avanse’s reach encompasses a diverse range of educational aspirations.
Commitment to Social Responsibility
Avanse’s commitment to social responsibility extends beyond providing financial assistance to students. The company actively supports initiatives aimed at promoting education and skill development, particularly among underserved communities. Avanse’s social impact programs have reached thousands of individuals, empowering them to break the cycle of poverty and achieve their full potential.
Avanse Financial Services: A Catalyst for Educational Transformation
Through its innovative financing solutions, unwavering commitment to quality education, and focus on social impact, Avanse Financial Services has positioned itself as a catalyst for educational transformation in India.
Avanse Education Loan Programme
From covering college tuition to meeting their living expenses, Avanse has got everything covered.
It has streamlined the education loan application process to make it hassle-free and convenient. A dedicated loan consultant reaches out to guide students through every step of the process. Avanse believes in offering comprehensive education financing solutions to deserving students. The education loans are crafted to extend financial assistance across a broad spectrum of student needs. The solutions include:
Avanse Education Loan for Higher Education
With their loan, individuals can concentrate on their course at the institute of their dreams, and all financial aspects will be managed by the lending institution.
Study in India Avanse Education Loan
Most students studying in India do not consider financing their own education. At times, they decide to forgo the desired course in favor of a more affordable alternative. Academic aspirations can be effortlessly achieved through the tailored education financial solutions provided by Avanse, the education loan provider in India. At Avanse Financial Services, education financing solutions are offered for a diverse range of courses, including student loans meant for Executive MBA Programme (EMBA.
Avanse Education Loan Eligibility
In order to apply for a study loan in India, a student needs to be 18 years or older and an Indian citizen with confirmed admission. They also need a co-borrower in India who meets certain criteria, such as citizenship, a bank account in India, and one who is a parent, legal guardian, sibling, or blood relative. The co-borrower must also be the primary debtor.
Students can use education finance for various courses, including graduate, post-graduate, and professional degree or diploma programs from UGC (University Grant Commission), AICTE (All India Council for Technological Education), IMC, and government-approved colleges and universities in India. This includes executive MBA programs. Additionally, finance is available for technical and professional courses.
Avanse Education Loan Documentation
To complete the process of application for an education loan in India, one needs to submit certain documents. These include the student’s KYC (Know Your Customer) and educational records, information about the course and its fees, the co-borrower’s KYC and income details, and collateral documents. Documents required for an education loan in India are as under:
Avanse Education Loan Amounts
Minimum size of the loan amount for student loans in India is ₹1,00,000, however, there’s no limit on the maximum loan amount. Avanse offers personalized loans that easily fulfill all financial requirements without the obligations of any margin contributions.
Avanse Education Loan Coverage
The higher education loan for students in India will include:
- Up to 100% of tuition fee, as determined by the university or institute.
- Up to 75% of living expenses, including purchase of books, computers, and other equipment as long as this does not exceed 20% of the tuition fee.
- Up to 100% of building fund or caution deposit, or refundable deposit, provided it doesn’t exceed 10% of the tuition fee and is supported by valid bills or receipts from the institution.
Avanse Education Loan Process
When one selects Avanse as their education loan provider in India, they can expect quick, transparent, and hassle-free loans. To apply for an education loan in India, they can either fill in the online form or send an email to wecare@avanse.com. For a smooth application process, it’s important to communicate the following details:
- Amount of financial assistance needed
- Courses and institutions
- Identity of the co-applicant or a guarantor
It’s advisable to check the necessary documents in advance and apply for the study in India loan ahead of time to avoid last-minute troubles. After receiving the application for higher studies in India, Avanse’s consultants will review and reach out for any additional information if required. Once all the paperwork is done, an education loan agreement will be provided, outlining all the terms and conditions. After reviewing and signing the agreement and submitting the required documents, Avanse will disburse the loan amount via DD (demand draft), cheque, or electronic transfer.
Avanse Education Loan Security
Avanse offers secured student loans in India. The types of collateral accepted for security are:
- Residential property (apartment or house)
- Fixed deposit from any registered deposit-taking organization, assigned in favor of Avanse
- Life insurance with a surrender value matching the needed security coverage
- Non-agricultural land
Avanse Education Loan Processing Fees
Usually, Avanse applies a processing fee of 1-2% of the loan amount. However, they assess this amount individually for each case and disclose the final fee during loan processing.
Avanse Education Loan Interest Rates
Avanse uses floating interest rates. It is calculated using the formula: Interest = Avanse Base Rate + Spread. The base rate is currently fixed at 14.25% (effective May 1, 2023). The spread changes over time depending on the overall credit and course profiling.
Avanse Education Loan Charges
Avanse believes in being transparent. They want students to have all the information required. Let us take a look at their service charges:
Note:- Additional services, as required, will be charged at a nominal fee as per Avanse policy.
Avanse Education Loan Repayment
One can select a repayment duration according to their preferences, as long as it falls within the following boundaries:
- Minimum loan repayment period is 12 months.
- Maximum loan repayment period is 120 months including the course duration.
- Additionally, a grace period of 6 months is provided from the date of course completion or a grace period of 3 months from the time of securing the first job.
Avanse Education Loan Repayment Options
The study in India loans has various repayment options. Repayment can begin either while in college or after finishing the course and securing a job. During repayment, one can choose from the following options:
- Interest servicing during the course
- Partial interest servicing during the course
- EMI (equated monthly installment) repayment during the course
- EMI repayment after a holiday or moratorium period
- Step-up repayment facility
Study Abroad Avanse Education Loan
With an Avanse study abroad loan, applicants don’t have to be stressed about the costs. The loan for Indian students covers all education-related expenses, from course fee to expenditures incurred on travel, books, and learning devices.
Avanse Education Loan Eligibility
In order to apply for an education loan for overseas studies, a student needs to be 18 or older and an Indian citizen with confirmed admission. They also need to have a co-borrower in India who meets certain criteria, such as being a citizen, having a bank account in India, and being a parent, legal guardian, sibling, or blood relative. The co-borrower must also be the primary debtor.
Students can apply for a foreign education loan for graduate or postgraduate courses or other job-oriented professional or technical courses. The courses and the institute offering them must be approved by Avanse.
Avanse Education Loan Documentation
Required documents include the student’s KYC and educational records, information about the course and its fees, the co-borrower’s KYC and income details, and collateral documents. List of documents is as follows:
Avanse Education Loan Amount
Avanse aims to design personalized loans that easily fulfill all financial requirements. Moreover, they don’t request any margin contributions. The objective is to offer comprehensive funding for education, ensuring that individuals can successfully achieve their academic goals.
Avanse Education Loan Coverage
The overseas education loan for students will include:
- Up to 100% of tuition fee, as determined by the university or institute.
- Up to 75% of living expenses, including purchase of books, computers, and other equipment as long as this does not exceed 20% of the tuition fee.
- Up to 100% of building fund or caution deposit, or refundable deposit, provided it doesn’t exceed 10% of the tuition fee and is supported by valid bills or receipts from the institution.
- Travel expenses or passage money up to ₹75,000 for the student traveling abroad.
Avanse Education Loan Process
When one selects Avanse as their finance partner, they can expect quick, transparent, and hassle-free loans. To apply for an education loan to study abroad, they can either fill out the online form or send an email to wecare@avanse.com. It is important to communicate the following details:
- Amount of financial assistance needed
- Courses and institutions
- Identity of the co-applicant or a guarantor
It’s advisable to check the necessary documents in advance and apply for the study in India loan ahead of time to avoid last-minute troubles. After receiving the application for higher studies in India, Avanse’s consultants will review and reach out for any additional information if required. Once all the paperwork is done, an education loan agreement will be provided, outlining all the terms and conditions. After reviewing and signing the agreement and submitting the required documents, Avanse will disburse the loan amount via DD (demand draft), cheque, or electronic transfer.
Avanse Education Loan Security
Avanse offers secured educational loans for studying abroad. The types of collateral accepted for security are as follows:
- Residential property (apartment or house)
- Fixed deposit from any registered deposit-taking organization, assigned in favor of Avanse
- Life insurance with a surrender value matching the needed security coverage
- Non-agricultural land
Avanse Education Loan Disbursement
Loan amount is sanctioned so that it is utilised wisely for the purpose it is meant for:
- The amount of education loan for abroad studies will be given in Indian rupees.
- Tuition and hostel fees will be sent directly to the institute or university following the agreed payment schedule.
- The loan amount for additional expenses will be transferred to the co-borrower’s account in part throughout the course duration.
- If the student opts to stay outside the hostel, the funds will be directly transferred to the co-borrower’s account.
- Whenever required, money will be transferred with a third-party FOREX vendor as per the agreement.
Avanse Education Loan Processing Fees
Usually, Avanse applies a processing fee of 1-2% of the loan amount. However, they assess this amount individually for each case and disclose the final fee during loan processing.
Avanse Education Loan Interest Rates
To make sure individuals always get a good interest rate, Avanse uses floating rates. The interest on the loan is calculated using the formula: Interest = Avanse Base Rate + Spread. The base rate is currently fixed at 14.25% (effective May 1, 2023). The spread changes over time depending on the overall credit and course profiling. Avanse employs a simple interest rate with a monthly rate to figure out the interest on the student loan.
Avanse Education Loan Charges
Avanse believes in being transparent and wants all the applicants to be well informed. Service charges are as follows:
Note:- Additional services, as required, will be charged at a nominal fee as per Avanse policy.
Avanse Education Loan Repayment
One can select a repayment duration according to their preferences, as long as it falls within the following boundaries:
- Minimum loan repayment period is 12 months.
- Maximum loan repayment period is 120 months including the course duration.
- Additionally, a grace period of 6 months is provided from the date of course completion or a grace period of 3 months from the time of securing the first job.
Avanse Education Loan Repayment Options
Various repayment options are offered. During repayment, one can choose from the following options:
- Interest servicing during the course
- Partial interest servicing during the course
- EMI repayment during the course
- EMI repayment after a holiday or moratorium period
- Step-up repayment facility
Short-Term Avanse Education Loan
Avanse short-term loans for students’ education assist with:
Curriculum Fee Financing
Acquire the necessary funds to pay students’ school fees in advance and repay them through manageable monthly installments.
Non-Curriculum Fee Financing
Support students with online or offline tutoring or courses, and they’ll assist with the funds. Their loans provide the entire amount upfront, allowing students the flexibility to repay in affordable EMIs.
How Do Short-Term Avanse Education Loan Work?
Many schools and online/offline courses now request that students pay the yearly fees in one go. Sometimes, students find it hard to manage such expenses. When they choose short-term loans for their education, Avanse will pay the needed amount directly to the school or online institution. Later, they can repay them through affordable monthly installments. The goal is to ease the pressure of a large payment on students while making sure they receive the education they deserve.
Key Features of Short-Term Avanse Education Loan
Loans up to ₹3 lakhs
Avanse provides 100% of the fee amount up to ₹3 lakhs for short-term loans for a child’s education.
Zero Paperwork
Applicants can apply for a short-term loan for their education online, eliminating the need for submitting numerous documents.
3 or 6 Month EMI Repayment
The repayment process allows individuals to repay the loan amount through affordable EMIs over three to six months.
Interest Free with Affiliated Schools and Institutions
Borrowers can repay the loan amount without incurring interest over three to six months.
Fixed Processing Fee of ₹999
A fixed processing fee of ₹999 is applicable for short-term loans for a student’s education, regardless of the loan amount.
Instant Approvals
Applications are approved within minutes, eliminating the need for extended waiting periods to know the application status.
Zero Prepayment Charges
Applications are approved within minutes, eliminating the need for extended waiting periods to know the application status.
Avanse Education Loan Student Refinancing
Consider refinancing student education loans with Avanse and explore more favorable options for repaying student debt. Refinancing one’s education loan provides them with the flexibility to switch loan providers or apply for a new loan to consolidate and pay off students’ existing debt. Individuals typically refinance student loans to optimize their monthly payments, secure lower interest rates, or adjust the loan term. When students choose Avanse as their refinancing partner, they gain access to the expertise of Avanse’s experienced education finance professionals. They will guide them in identifying the most effective strategy to optimize their loan repayment plan.
Who Should Opt for Avanse Education Loan Refinance?
Many individuals today are unaware of their options for refinancing student loans. Refinancing their loan may be beneficial if:
- Recently acquired a loan to pursue higher education in India or abroad
- Completed their education and are on the verge of beginning loan repayment or have just begun repaying it
- Are working professionals still repaying an educational loan
If an individual intends to proceed with loan refinancing, their co-borrower must meet the following education loan criteria:
- The co-borrower must be an Indian citizen or passport holder, or an NRI (Non-Resident Indian) currently employed in India and holding an OCI card.
- They must have a steady income and can be either a parent, sibling, or brother-in-law.
- For secured loans, the co-borrower could be a parent, sibling, uncle, grandparent, or even a friend.
- People can apply for a loan for graduate or postgraduate courses or other job-oriented professional or technical courses. Avanse must approve the courses and the institution offering them.
If they meet the aforementioned criteria, they can proceed and use the education loan calculator to determine their eligibility for education loans in India. Student loan eligibility in India is determined by parents’ monthly income and expenses, as well as their loan interest and term.
What Avanse Education Loan Offers
If students are looking for an education loan refinance in India, look no further than Avanse. Here’s how they can help with the following:
- Lower Interest Rates
- Affordable EMIs
- Repayment Flexibility
- Zero Processing Fee
- Top-Up on Existing Loans
- Remittance Payments
- Transparent Process
- Convenient Service
- Funds for Switchover Charges
Note:- Avanse offers the best student loan refinance rates for all accredited courses in India and abroad.
Things to Consider While Opting for Refinancing
Before students sign their refinance documents, they must carefully consider the following:
Foreclosure Charges
For individuals repaying their loan before the tenure ends, many agencies may charge prepayment or foreclosure fees. With Avanse, there’s assurance that no penalties will be imposed for early loan repayment.
The Best Deal
For individuals with an excellent credit score and repayment history, they can leverage it to their advantage. They can use their credit rating to negotiate for better interest rates.
The Earlier, the Better
For individuals considering refinancing, starting the process early is beneficial for them and their financial well-being.
Check the Documents
Finally, when dealing with financial documents, it’s crucial for individuals to read all the terms and conditions carefully. One should never agree to anything unless they fully understand it.
Avanse Education Loan for Professionals
Aspiring to advance your career with new skills? Avanse is here to make students’ dreams a reality. With our Executive Education Loans and Skill Enhancement Loans, they can easily finance an individual’s MBA or skills course. Partner with Avanse and let learning be an uninterrupted journey of growth and success.
What is a Skill Enhancement Avanse Education Loan?
Don’t let financial limitations hinder an individual’s career advancement. With skill development loans, they can cover upfront course fees and repay them conveniently in monthly installments. Explore no-cost skill enhancement loan options to acquire the skills they need to excel in their profession. Enjoy flexible repayment terms of up to 24 months to complete their course without financial worries.
Benefits of Upskilling Courses for Professionals
Upskilling has become a buzzword for professionals in the recent past. Here’s a look at why upskilling has become the need of the hour:
It Bridges the Skills Gap – By enrolling in online courses for professionals, students can acquire the in-demand skills required to thrive in this ever-changing environment.
It Promotes Productivity – By continuously upskilling and updating their knowledge, they can outpace their peers who still rely on outdated techniques.
Builds a Commitment for Learning – Students’ proactive approach to seeking out relevant courses demonstrates their commitment to learning and career growth.
What are the Features of a Skill Development Avanse Education Loan?
When students opt for a skill enhancement loan, they get the following:
- Monthly interest rate starting at ₹500 only
- Availability of flexible repayment options
- Tenure of 3 to 36 months
- Collateral free education loans for online courses
- Loan is sanctioned within 72 hrs of application.
Skill Development Avanse Education Loan
Whether students are considering offline or online upskilling options, financial constraints can often hinder individuals’ career advancement. Avanse Skill Enhancement Loans eliminate this obstacle by providing them with the funds they need to acquire new skills and stay ahead in their field.
Executive Avanse Education Loan
In the journey of life, learning is a constant process. Regardless of whether someone is 10, 40, or 90 years old, there’s always something new to discover every day. As individuals embark on their career paths, they might desire to enhance or acquire new skills to fulfill their aspirations. Specialized education loans, including those for MBA studies, are available for working professionals in India. Avanse has developed tailored education financing solutions.
Benefits of Executive Avanse Education Loan
Many professionals nowadays aspire to finish an MBA or a post-graduate diploma to boost their career opportunities but lack the means to finance their dream. This is where executive education loans come in handy. There are several benefits as listed under:
- An education loan for executive MBA ensures that individuals can obtain the necessary degree and skills without the burden of financial concerns.
- Learn essential skills to expand networking and form connections with professionals with beneficial common interests.
- Stress-free financing allows individuals to concentrate on their studies more.
Avanse Education Loan Eligibility
Professionals interested in applying for executive education loans should meet the following criteria:
- Be 18 years of age or older and an Indian citizen.
- Have confirmed admission before the final disbursal.
- Have a co-borrower earning in India:
- Who must be an Indian citizen and a parent, legal guardian, sibling, or another blood relative.
- Who has a bank account in India.
- Who will serve as the primary debtor.
Avanse Education Loan Documentation Required
List of documents needed for an executive education loan is as under:
Avanse Education Loan Amounts
Although the minimum loan amount for an executive education loan programme is ₹1,00,000, there’s no limit on the maximum loan amount. Avanse aims to promote funding for education, ensuring that individuals can successfully achieve their academic goals.
Avanse Education Loan Coverage
The executive loan for professionals will include:
- The entire tuition fee, as determined by the university or institute, is up to 100%.
- Living expenses up to 75%, include costs for books, computers, and other equipment, however, this should not go beyond 20% of the tuition fee.
- Building fund, caution deposit, or refundable deposit, up to 100%, provided it doesn’t exceed 10% of the tuition fee and is supported by valid bills or receipts from the institution.
- Up to ₹75,000 as travel expenses or passage money for individuals traveling abroad.
Avanse Education Loan Process
When individuals select Avanse as their education financing partner, they can expect quick, transparent, and trouble-free loans. To apply for an executive education loan, one can fill out the online form or email at wecare@avanse.com. It is important to communicate the following details:
- Amount of financial assistance needed
- Courses and institutions
- Identity of the co-applicant or a guarantor
It’s advisable to check the necessary documents in advance and apply for the study in India loan ahead of time to avoid last-minute troubles. After receiving the application for higher studies in India, Avanse’s consultants will review and reach out for any additional information if required. Once all the paperwork is done, an education loan agreement will be provided, outlining all the terms and conditions. After reviewing and signing the agreement and submitting the required documents, Avanse will disburse the loan amount via DD (demand draft), cheque, or electronic transfer.
Avanse Education Loan Security
Avanse offers secured loans for better interest rates and higher amounts. The types of collateral accepted for security are:
- Residential property (apartment or house)
- Fixed deposit from any registered deposit-taking organization, assigned in favor of Avanse
- Life insurance with a surrender value matching the needed security coverage
- Non-agricultural land
Avanse Education Loan Disbursement
Loan amount is sanctioned to ensure that it is used for the intended purpose wisely:
- The professional education loan amount will be given in Indian rupees.
- Tuition and hostel fees will be sent directly to the institute or university following the agreed payment schedule.
- The loan amount for additional expenses will be transferred to the co-borrower’s account in part throughout the course duration.
- Professionals opt to stay outside the hostel, the funds will be directly transferred to the co-borrower’s account.
- Whenever required, money will be transferred with a third-party FOREX vendor as per the agreement.
Avanse Education Loan Processing Fees
Usually, Avanse applies a processing fee of 1-2% of the loan amount. However, they assess this amount individually for each case and disclose the final fee during loan processing.
Avanse Education Loan Charges
At Avanse, we believe in being transparent. They want students to have all the information required, so here’s a look at our service charges:
Note:- Additional services, as required, will be charged at a nominal fee as per Avanse policy.
Why Choose an Avanse Education Loan?
Applicants looking for availing education loan should consider the following options offered under the Avanse Education Loan Programme:
- 100% Finance
- Customized Loans
- Flexible Repayment Options
- Fast-track Loan Processing
- End-to-End Support
- Quick Applications
Important Links
Apply for Avanse Education Loans Here
Navigating Student Loans Forgiveness Programme: Strategies for Managing Education Loan
Navigating the Landscape of Education Loans in India
Avanse Education Loan – Frequently Asked Questions
What are the eligibility criteria for Avanse Education Loans?
In order to be eligible for Avanse Education Loans, students must be an Indian citizen over the age of 18, have a confirmed seat at their preferred institute, and have cleared their 10th standard exams.
How does Avanse determine the interest rates for education loans?
Avanse uses a combination of factors to determine the interest rates for education loans. These factors include:
- The borrower’s credit history
- The borrower’s co-borrower’s credit history (if applicable)
- The course of study
- The institution of study
- The loan amount
- The repayment tenure
Avanse’s base interest rate is 14.25%. This rate is then adjusted upward or downward based on the other factors listed above.
Are there any collateral requirements for securing an Avanse Education Loan?
No, collateral is not mandatory for securing an Avanse Education Loan. Avanse offers both secured and unsecured education loans. Students can choose the option that best suits their needs and financial situation.
If they choose a secured loan, they will need to provide collateral in the form of a residential property, a life insurance policy, or non-agricultural land. This collateral will act as security for the loan, and it will be returned to them once they have repaid the loan in full.
If they choose an unsecured loan, they will not need to provide collateral. However, they will need to have a strong credit history and a co-signer who is willing to take on the responsibility of repaying the loan if they are unable to do so.
How does the loan repayment process work, and what are the options available?
The loan repayment process for Avanse Education Loans is designed to be flexible and affordable. Here are the steps involved:
Start repaying students’ loans during their moratorium period.
Make payments towards education loan interest during their course.
Pay off a partial amount of the education loan interest during the course.
- Start paying full EMIs after completing their course.
- Choose from a variety of repayment options, including:
- NACH: This is the most convenient option, as their EMIs will be automatically deducted from their bank account on a monthly basis.
- UPI apps: Students can use UPI apps like Google Pay, PhonePe, and BHIM to make their EMIs.
- Digital wallets: They can use digital wallets like Paytm and Amazon Pay to make their EMIs.
- Easy pay: This option allows them to make one-time payments towards their loan.
- Internet Banking: They can use their bank’s online portal to make their EMIs.
- Debit Cards and Cheques: They can use their debit card or cheque to make their EMIs.
Individuals can also choose to make prepayments towards their loan. This can help them save money on interest and shorten their repayment term.
What types of courses and institutions does Avanse finance through its education loans?
Avanse Education Loans finances a wide range of courses and institutions across various disciplines, both in India and abroad. Here’s a summary of the types of courses and institutions they typically cover:
Courses:
- Engineering and Technology
- Management and Business Administration
- Medicine and Healthcare
- Law
- Design and Architecture
- Arts and Humanities
- Sciences
- Computer Science and Information Technology
- Agriculture and Forestry
- Hospitality and Tourism
- Fashion and Design
- Aviation
- Maritime Studies
- Vocational Training
Institutions:
- Reputed private universities and colleges in India
- Leading institutions abroad, including those in the US, UK, Canada, Australia, and Europe
- Specialized institutes offering vocational training and skill development programs
What sets Avanse apart from other education loan providers in terms of benefits and services?
Avanse stands out with its personalized, comprehensive education financing solutions that cover diverse student needs. It offers flexible repayment options, quick application processes, and benefits like doorstep service, transparent processes, and support for a wide range of courses, making it a preferred choice for students seeking hassle-free and tailored financial assistance.