Overview

Avanse Financial Services was established in 2013 with the sole purpose of enabling students to achieve their academic aspirations. They're an education-focused NBFC that provides hyper-personalised education financing solutions to every deserving Indian student. They are committed to democratising education and education financing in India. Their range of solutions covers the holistic requirements of an education aspirant.

• Focus on Education: Avanse prioritizes financing educational needs, aiming to bridge the financial gap for students through their loan products.
• Non-traditional Lender: As an NBFC, Avanse operates differently from traditional banks. Their loan approval process and eligibility criteria might differ from public or private sector banks.
• Focus on Flexibility: Avanse highlights its customizable loan options and fast processing times to cater to students' specific needs and timelines.

What Avanse Offers?

• Score-Based Benefits: As an education-focused organisation, we recognise all the hard work you put into achieving your academic aspirations. We offer preferential interest rates and other special privileges to high merit students applying for our education loan abroad.
• Fast-Track Loans: Sometimes, you may need a quick loan to facilitate your admission process. That’s what our fast-track loan for education abroad provides.
• Pre-Visa Loan: A pre-visa loan helps students fulfil their financial requirements to qualify for a student visa. At Avanse, we offer pre-visa education loan for study abroad to fulfil their academic aspirations.
• Pre-Admission Loans: We’ll sanction a student loan for abroad studies so you can confirm your seat at your preferred university with ease.

Why choose Avanse Study Abroad Loans?

• 100% finance for Course fee, living and other expenses
• Quick approval and sanctions within 72 hrs.
• Flexible Repayment options
• Service at your doorstep
• Customisable Loans
• 4,00,000+ network of students, 30,000+ courses available at universities, 4,000+ institutes and 50+ loans valid for countries

Eligibility Criteria

Students can apply if they:

• Are Indian citizens who are 18 or older
• Have a confirmed admission before the final disbursal
• Have a co-borrower who earns in India

Co-borrowers also need to meet the following criteria:

• Must be an Indian citizen and should be a parent, legal guardian, sibling or other blood relative
• Must have a bank account in India that allows them to sign cheques
• Must be the primary debtor

Students can apply for a foreign education loan for graduate or post-graduate courses or other job-oriented professional or technical courses. The courses and the institute offering them must be approved by Avanse.

Documents Required

Here are the list of documents required for education loan for abroad studies:

Documents	Applicant	Co-Applicant	Guarantor
Passport-Sized Photos	✔	✔	✔
Photo ID	✔	✔	✔
Residence Proof	✔	✔	✔
Date of Birth Proof	✔	✔	✔
Signature Verification	✔	✔	✔
Academic Documents	✔
Proof of Admission	✔
Fee Structure	✔
Income Proof		✔	✔
Collateral Documents		✔	✔
Bank Statements (8 months)		✔
Relationship Proof		✔

Loan Disbursement

How the loan amount gets disbursed to ensure you’re making an informed decision:

• The education loan for studying abroad amount will be disbursed in Indian Rupees.
• Tuition and hostel fees will be sent directly to the institute or university as per the agreed-upon schedule of payments.
• The loan amount for other expenses will get transferred to the co-borrower’s account in instalments over the duration of the course.
• When the student chooses to reside outside the hostel, the money gets transferred directly to the co-borrower’s account.
• Whenever required, money will be transferred with a third-party FOREX vendor as per the agreement.

Loan Coverage

Overseas education loan will cover:

• Up to 100% of the tuition fee as decided by the university or institute
• Up to 75% of your living expenses, including the purchase of books, computers and other equipment, as long as it does not exceed 20% of the tuition fee
• Up to 100% of the building fund or caution deposit or refundable deposit as long as it does not exceed 10% of the tuition fee and comes with valid bills or receipts from the institution
• Travel expenses or passage money up to INR 75,000 for the student travelling abroad

Loan Repayment Conditions

You can choose a repayment tenure that suits your needs as long as it falls within the following limits:

• Minimum loan repayment tenure – 12 months
• Maximum loan repayment tenure – 180 months (including the course duration)
• Avanse also offer a grace period of 6 months from the time you complete the course or a grace period of 3 months from the time you secure your first job.