Education Loan Interest Rates 2020517 views
- Avanse Education Loan comes with an attractive rate of interest 12.6% per annum
- It offers loans not only for higher studies in India and abroad but also for your school fees
Avanse Financial Services Limited offers seamless education loans to help students complete their higher studies. You can finance higher studies abroad as well with the help of Avanse Education Loans. The student can borrow the desired amount required for the admission process or expenses during the course. Your parents may not be able to afford higher studies in India or Abroad, but you can make it possible with the help of an Avanse Education Loan. With attractive interest rates and a plethora of schemes, Avanse Education Loan can be the right choice for you.
Students aged 18 years or above are eligible to apply for an education loan from the financial institution. And the co-borrower in your loan could be the parent, legal guardian, relatives or siblings. You can apply for undergraduate, postgraduate, diploma and technical education courses in India offered from reputed institutions. Avanse Financial Services Ltd. offer 100% finance on your education loan. Look at the table below to know the details.
|Loan Quantum||Starts from INR 1 lakh|
|Interest Rate||12.65% + Spread|
|Processing Fee||1%-2% of the loan amount|
The interest rate on your Avanse Education loan is based on the base lending rate of the NBFC which is 12.65%. As the base rate changes over time, the interest rate can change accordingly. You get 6 months of moratorium period when your course period is over. And it would be of 3-months if you secure a job right after the course completion.
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Avanse Education Loan for Overseas Studies
Higher education abroad is no longer a dream for you as Avanse education loans are available for studies in foreign lands too. You don’t need to worry about funds because Avanase provides you the opportunity to achieve your dreams. With the education loan, you can choose from more than 500 courses in 100 countries worldwide. Over 3,000 students have achieved it with Avanse Financial Services Ltd. There is no upper limit for your borrowed amount, that means your funding is endless as your education. You can meet expenses including the travel from India to abroad to pursue the course.
In 5 ways the NBFC helps the student to secure admission in a reputed university abroad.
- Bridge Loan: You can get financial support from the beginning as the NBFC provides money for the exam prep classes, GRE, GMAT, SAT or entrance exam. And after that, the loan would help you to pay for the semester fee and other expenses required during the course.
- Score-based benefit: If the student scores well in the entrance exam, the NBFC also appreciates it and provides a lower rate of interest.
- Pre-admission Loan: After clearing all the entrance and other formalities, a student will just require funds for the admission. To get it, one has to submit the list of funds required during the course approved by the university or educational institution.
- Fast-track Loan: Don’t want to miss the last date of admission? Then speed up the loan process with a Fast-track loan from Avanse Financial Services Ltd.
- Certificate of availability of Funds (USA): A certificate that proves that the borrower has enough to pay for the course and living expenses.
Executive Education Loan
It is never too late to pursue higher education, and that is the reason Avanse offers an executive education loan. With the help of it, the working individuals have an option to pursue their graduation or post-graduation and the technical or professional course they aren’t able to get due to financial problems. You just need to secure admission to the institution first, to get the loan disbursed. To borrow a high amount you can submit any of the following securities to the concerned NBFC.
- Fixed deposit
- Non-agriculture land
- Life Insurance Policy
Avanse School Fee Financing
Right from the beginning of the studies of your child, the NBFC provides you funds up to INR 3 lakh. If you do not want to halt your child’s education due to financial problems, apply for the Avanse education loan. Because Avanse provides you funds with a 0% interest rate on it if your school happens to be the partner of this NBFC. Yes, you don’t need to pay any type of interest for this loan. Plus, you don’t need to submit any documents, making the entire loan processing a paperless exercise. You need to first secure admission to schools through a test based selection process to get funds from Avanse Financial Services Ltd.
Pay for the borrowed amount in 6 months from the date of disbursement. And pay a processing fee of INR 999+GST to the NBFC to get the loan quickly.
Student Loan Refinancing at Avanse
Do you face financial issues due to the education loan? Then Avanse financial services Ltd offers a refinancing solution. With the help of it, you can lower the rate of interest and extend the payment tenure. The service is like a transfer of the existing loan from another lender to Avanse financial service. There are no penalty fees or additional requirements by the NBFC to refinance the education loan. You just need to provide your details and loan outstanding balance to get the advantage of the balance transfer.
Avanse Education Loan EMI Calculator
The payment of EMIs gets easier when you get to know of them in advance. This helps you plan your routine to accommodate the EMI. You can thus use the Avanse Education Loan EMI Calculator available on the website of the NBFC.The calculator helps generate the appropriate EMI based on the loan amount, tenure and interest rate. Suppose, a student has borrowed INR 15 lakh from Avanse at an interest rate of 13.50% per annum, the EMI would be INR 22,841 for 120 months. The idea of using an EMI calculator is to provide self-assistance to the borrower so they can manage their EMI payment. The borrower can use the following methods to pay the EMIs.
Electronic Clearing Service: To pay EMI via ECS service you need to add the financial institution as a beneficiary. So the EMI would deduct from your bank account before the due date. If the EMI is due because of the ECS bounce, you need to pay INR 400+GST with a 2% penalty charge.
Post-dated cheques: The EMI can be paid via cheques as well, you just need to visit the branch of Avanse to submit the cheque
Avanse financial services ltd. would need a swapping fee of INR 500+GST if you change the payment service later during the tenure.
Apply for Avanse Education Loan
To apply for the education loan, you don’t have to step out of your house. Just visit the official website of Avanse financial services. Fill out the loan application form and submit it by filling all your details. The loan will be sanctioned in one day and you just need to submit KYC and income details which are Aadhar card, PAN card, salary slip, ITR report and Admission letter.
You can contact the Avanse on its customer care service number 1800-266-9722. The borrower can write down the queries and send them to [email protected]
Now build a bright future for your child with no worries of funds and provide him the right source of education with Avanse financial service ltd.