We always aim to offer you competitive interest rates on your Avanse loans. The rate of interest on your loan is calculated as: Interest Rate = Avanse Base Rate + Spread. Our current Base Lending Rate is 12.65% (w.e.f. 01.11.2018). The Spread is floating and is based on analysis of overall credit and customer profiling. Interest is calculated using Simple Interest Rate with Monthly rest. This rate is subject to the terms and conditions of Avanse Financial Services Ltd.
Avanse Financial Services Ltd. is authorized to disclose from time to time any information relating to the loan to any credit bureau (existing or future) approved by Government of India and Reserve Bank of India without any notice to the borrower. We are also authorized to make inquiries with the Credit Information Bureau of India (CIBIL) and get the applicants Credit Information Report. All Education loans are subject to approval and credit terms of Avanse Financial Services Ltd.
The United States is one of the popular study abroad destinations for International students. Individuals wanting to study in US University or educational institution are required to obtain a visa before they can enter the US for their education. There are two main types of US student visas—F and M. International students cannot enter the US on a visitor visa (B), or on the visa waiver program, except to undertake the recreational study as a part of a tourist visit. Another type of visa, the J visa, is issued to exchange visitors who are approved to participate in an exchange visitor program in the US. Generally, this does not apply for Indian citizens.
If you plan to study in US, you should know the type of student visa required which primarily depends on the type of institution you are seeking admission in and your course of study.
|Type of Institute||Type of US student visa|
|University or College||F|
|High School or Private Elementary School||F|
|Other academic institutions including language training programs seminaries, conservatories||F|
|Vocational or other recognized nonacademic institution except language training institutes||M|
F Visa is of three types:
Employment rules for students with F-1 visas
F-1 visa holders are allowed on-campus employment for 20 hours or less per week during the regular session without any prior authorization. If the F-1 visa holder wishes to work for more hours and desires to work off-campus, he/she is required to get authorization from United States Citizenship and Immigration Services (USCIS).
M Visa is of three types:
Employment rules for students with M-1 visas
M-1 visas holders are not permitted to work on-campus or off-campus. The average stay of M-1 holders in US is around one year. The period of stay cannot be extended for M-1 visa holders unless for health reasons. M-1 holders are only allowed to stay in US for a period of their training course and optional practical training if any.
There are two types of J visas:
The J-1 visas are specifically issued to international students who are participating in the programs in US that encourage cultural exchange between US and other countries. The program can be related to any field such as medical, training, or business. However, the applicants are required to meet the eligibility requirements of the program in question. The program can be a government program or a program organized by the private sector. J visa holders can live in US only for a short period of time which can be limited to one or two semesters.
US student visa requirements
How to apply for US student visa?
The primary step in applying for a student visa is selecting the right type of US student visa that suits your stay and education in US. Once you choose the right type of visa, you need to approach US consulate in your city or nearby location and fill up the form. Alternatively, you can also apply online for US student visa through the link given below
You will be required to furnish all required documents along with the application to the officials at the US Consulate office. In majority of the cases, you will be required to attend a visa interview that will be scheduled by the US consulate.
Important steps in US Student Visa Process:
Step 1: Filling of Online Nonimmigrant Visa Application (DS-160)
The first step in applying for US Student Visa also includes determining the right type of visa for your purpose. The next step is filling “Online Nonimmigrant Visa Application (DS-160)”.
The information in the DS-160 form cannot be modified after submission, so you need to be careful and attentive while filling up the form. You need to keep all documents related to US travel with you while filling up the form as you will be required to enter information in the online form.
Inactivity of more than 20 minutes while filling up the DS-160 form will cause the session to expire and you will have to start over again unless you have noted down the “Application ID”. To be on safer side, use the “Print Application ID” given on the page to save Application ID and save your time in case you face unforeseen difficulty while filling up the form.
It is advised that you go through FAQ section related to “Online Nonimmigrant Visa Application (DS-160)” which will clear all your doubts regarding the online application process.
Step 2: Payment of Visa fees
Once you have completed filling and submission of Nonimmigrant Visa Electronic Application form DS-160 online form, you need to pay the visa fees. The visa fees can be paid online or offline at designated Citibank and Axis bank branches.
To ensure fees are paid in a proper way, every visa applicant is required to create a profile online. Once the payment is cleared, you will receive a receipt of payment which will be needed for the visa interview process.
Step 3: Scheduling an interview
After payment of fees, you are required to schedule two appointments for US student visa. The first appointment is for the visa interview at US Embassy or Consulate. The second appointment is for Visa Application Center where your fingerprints and photo will be taken.
To schedule an interview you need to go to user profile account you have created while payment of fees. After logging into your account, you will be required to choose the desired US Consulate (near your location) and also select the nearest Visa application Center for US visas. You can also schedule an appointment by calling at call center number- Call +91 120 4844644 or +91 40 46258222.
You will be required to carry supporting documents such as confirmation page of DS-160, passport, academic documents and all documents related to your stay in the US. Also, carry the receipt of payment of fees.
You need to take an appointment at US Visa Application center at least one day prior to your appointment with US consulate for the visa interview. If required, you reschedule both appointments online.
Step 4: Pick-up/delivery of your passport and US student visa
The wait time for the appointment and the processing time at US consulate differs with location. For Mumbai, the wait time for appointment at US Consulate is 3 days while the processing time for student visas is 2 working days. However, in some cases, additional time may be required to process the study loan visa application.
You need to collect your passport from the pick-up location you selected while scheduling your interview appointment. You will get an email informing you about the passport ready for pick-up at your selected location. The passport must be collected with 14 days otherwise it is sent back to US consulate.