Absolutely! Avanse provides education loans for international institutions in over 46 countries, including the USA, the UK, Canada, Australia, France, Germany, Ireland, Switzerland and more!
You are eligible for an Avanse study abroad education loan if you are:
- An Indian citizen over the age of 18
- Have a confirmed seat at a recognised or reputed institute
- Have a co-borrower who earns in India
Our education loans 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 students travelling abroad
You can opt for a minimum loan amount of INR 1,00,000. The maximum loan amount we provide will depend on your parents' financial standing and your fund requirements. If you'd like to understand the maximum loan amount you can opt for, you can use our Education Loan Eligibility Calculator.
A margin amount is a lump sum that you contribute towards your education. It's a bit similar to a down payment on a home or car before you apply for a loan. At Avanse, we provide up to 100% funding for your course, so we do not charge a margin amount.
At Avanse, we offer both secured and unsecured loans. If you do not have collateral, that's fine, we'll still provide you with a study abroad education loan.
There's no such thing as a bad time when it comes to applying for an education loan. Ideally, you should start the process roughly 8 months before your course is scheduled to start. Having said that, you must understand that we can only release the funds once the institution confirms your admission. If you require emergency funds, you can apply for a Pre-Admission Loan (PAL).
A pre-approved education loan lets your institution know that you have the funds required to complete the course abroad. It works as a proof of funds certificate, something that many higher education institutes abroad require.
Yes, you can definitely apply again. Make sure you have all the necessary documents attached to your profile and that you meet our eligibility criteria, so you are not disappointed again.
Your academic record isn't the only criteria we look at, so you could still get the loan you need.
To complete your application, you will have to provide the following documents:
- Student KYC and educational documents
- Details regarding the course and fees
- Co-borrower KYC and income details
- Collateral documents
At Avanse, we charge a one-time processing fee that amounts to around 1-2% of your total loan amount.
At Avanse, we offer floating interest rates, so your education loan interest rate may go up or down depending on the economic conditions and our company policies.
You can pick a loan tenure option that works for you and your finances. We offer a minimum tenure of 12 months, but you can opt to repay your loan over 15 years. If you need a little time to get your finances in order after you complete your course, don't worry. We offer a grace period of 6 months from the day you finish your course or 3 months from the day you get a job.
At Avanse, we believe in making everything about you. You can choose to repay your loan based on your needs. We offer the following repayment options:
- Start paying education loan EMIs while studying
- Make payments towards education loan interest during your course
- Pay off a partial amount of the education loan interest during the course
The holiday or moratorium period refers to the time between the loan amount reaching you and when you make your first EMI payment. It's the time during which you don't have to make any payments towards repaying your loan. We offer a holiday period of up to six months since you complete your course or up to three months since you secure employment, whichever is earlier.
When you initially apply for a loan, we verify details such as the course duration and estimated fees for each year. Every year, you have to submit a form that outlines the fee requirement so that we can disburse the money directly to the institute.
To apply for an education loan, you need to complete three quick steps:
- Step 1 – Fill out an application form
- Step 2 – Share your loan requirement details
- Step 3 – Send us the required documents
You can understand that process by using our free EMI calculator.
We offer education loans before admission only in specific circumstances. Currently, we only have this facility for the Master's Level STEM Program in the United States of America.
Once we receive your application and all the documents, we will take just 4-6 working days to disburse an unsecured loan. For secured loans, we may need a little longer, around 8-10 days.
Of course! We never want anything to come in the way of your bright future. We offer loans for MBA programmes abroad!
To be eligible for a study abroad loan from Avanse, you only need to meet the following eligibility criteria:
- You should be a citizen of India
- You should be 18 or older
- You should have confirmed admission in the institute of your choice
- You should have an earning co-borrower in India
Do you check all the above boxes? Well, congratulations, you are eligible to apply for our education loans for abroad studies! As for point number 3 – if your admission in the institute is not confirmed yet, you can still get a pre-admission loan. This will help you cover all your pre-admission expenses including entrance exam fees, consultation fees, the cost of prep tests, etc. These loans can also provide proof of funds to increase the chances of your application being selected.
Our loans cover your entire student life journey. Right from the course fee to the purchase of study material, we will take care of everything! Here is a rough list of expenses you can get covered with our loan for higher education abroad:
- The course fees
- Purchase of books, study material, computers and project expenses
- Traveling expenses for students traveling abroad
- Insurance premium
- Caution deposit, building fund, entrance exam fees, the cost of prep tests and entrance exams, consultation fees, etc.
With an education loan for abroad, you get 100% finance. This ensures that all your expenses are taken care of. Therefore, instead of worrying about funds, you can focus fully on your studies. We will handle the costs for you!
At Avanse, we believe that you should aspire without boundaries! That’s why we do not have any limit when it comes to the loan amount. However, the loan amount that we can provide depends on numerous factors such as your academic record, the course you’ve selected, your parent’s ability to repay the loan, etc. To get a better idea of the loan amount you can avail, use our eligibility calculator. You can also come to the nearest Avanse Financial Services branch office or you can contact us to schedule a home visit.
We provide 100% finance. This means that you do not need to provide any margin money to get an educational loan for abroad studies. Amazing, isn’t it?
You do not need to provide collateral or any form of security to get an educational loan for abroad studies. However, if you are able to provide security in the form of residential/commercial property or a fixed deposit, then you will enjoy higher loan amounts and/or reduced interest rates.
