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Avanse Education Loan

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Avanse Education Loan Summary Table

Avanse Education Loan Limit For India – INR 10 Lacs 

 

For Abroad – 20 Lacs
(Up to ₹ 7.5 lakh without collateral)
Avanse Education Loan Interest Rate 9.65% per annum
Avanse Education Loan Margin For loan above INR 4 Lacs 

 

In India: 5%

In abroad: 15%
Avanse Education Loan Processing Fee Up to INR 4 Lacs: Nil 

 

Above INR 4 Lacs: INR 5000
Avanse Education Loan Security Up to 7.50 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee.Above INR 7.50 Lacs: Tangible security along with parents as co-borrower
Avanse Education Loan Repayment Starts After 1 year of course completion or 6 months after getting a job

Avanse Education Loan Features

Central Bank of India Education Loan

Avanse aims to provide financial support to the students across the country who have aspirations to get to the top universities of India as well as abroad. The cost in some universities is pretty high, and that’s where the loan helps you out.

By taking an education loan, things could get more comfortable for you.

If you possess the capability and potential, this loan can make your dreams come true The loan includes expenses for their education such as tuition fees, etc.

The loan can be availed to study in India or for even overseas, Avanse is always there to help Indian students.

Any student can apply for the Avanse education loan by following the specific criteria and documentation.

Avanse Education Loan Eligibility

Parameters  Eligibility Criteria
Applicant’s Age
  • Non-employed personnel: Up to 35 years
  • Working employees / Executives: Up to 45 years
Who Can Apply?
  • An Indian National: With secured admission to professional/technical courses in recognized institutions.
  • Permanent employees: Who are employed for not less than three years with any organization and have secured admissions in a reputed institute or who intend to acquire higher professional qualifications.
Maximum Loan Amount
  • For studies in India: Up to Rs. 1,000,000
  • For studies in Abroad: Up to Rs. 2,000,000
  • For studies at IIT’s, IIM’s and ISB’s: Upto Rs. 4,000,000
Frequency Of Repayment
  • Quarterly or monthly rests.
  • Starts 1 year after completing the course of six months after getting a job, whichever is first.
  • Loan interest re‐payment will start immediately after disbursement of the first installment of the loan.
Repayment Period
  • Tenure: Education Loan consists of Duration of Study, Grace Period after the Study, and Repayment Period.
  • For Indian courses: Repayment tenure is a maximum of 12 years after the commencement of repayment.
  • For Abroad courses: Repayment tenure is a maximum of 12 years after the commencement of repayment.

Avanse Education Loan Interest Rate

Loan Amount Rate of Interest
Above ₹ 1 Lakh 12.65% + Spread

 

Avanse Education Loan Schemes with detailed features, documents, max loan, courses

Avanse Education Loan Schemes

  1. Study in India Loans
  2. Study in Abroad Loans
  3. Executive Education Loan

Avanse Education Loan Documents Required

Under Know Your Customer Policy (KYC), the bank requires certain documents.

These documents are required from both the student and co-borrower:

Identity Proof One of any mentioned document for Identity proof: 

 

  • Passport
  • PAN Card
  • Aadhaar Card
  • Voter’s ID Card
  • Driving Licence
  • Photo Credit Card
  • Central and State Govt. issued Photo ID Proof
  • Defense ID Card.
Residence Proof One of the following documents for Residence proof (It should not more than 3 months old): 

 

  • Aadhaar Card
  • Ration Card
  • Passport
  • Bank Account Statement
  • Voter’s ID Card
  • Letter from any recognized public authority
  • Telephone Bill
  • Electricity Bill
  • Water Bill
Income Proof in case of salaried co-borrower
  • Salary Slips (not more than 3 months old)
  • Bank Statements (not more than 3 months old)
  • ITR
  • Form-16 (for the last 2 years)
  • bank account statement (for the last 6 months of salary account)
Income proof for self-employed co-applicant
  • Business address proof
  • IT returns for the last two years (If IT payee)
  • TDS certificate
  • Form 16A if applicable
  • Certificate of qualification (for CA, doctor, and other professions)
  • Bank account statement for the last 6 months.

Additional documents: Aside from KYC documents:

  Student Applicant Mandatory Passport submission
Academic Records: X, XII grade results. Graduation results semester wise. Entrance Exam results that formed the basis of admission
Proof of admission: A conditional application letter may be considered
Cost of education, schedule of expenses.
2-passport size photographs
If the loan was taken out before then loan account statement for the last 1 year.
Co-applicant 2-passport size photographs
If the loan was taken out before then loan account statement for the last 1 year.

Avanse Education Loan Offered Courses

The Education Loan covers courses that are only regular full-time Degree or Diploma courses that the student secured through selection or merit. Avanse Education Loan also considers Full-time Executive Management Courses like PGPX.

EMI Calculator

Avanse Education Loan EMI Calculator

EMI Calculation Table

Avanse: Takeover of Education Loan

An Education Loan is Transferable, it is basically a process of transferring high-interest debt from one to another lender and with a lower interest rate and better repayment policies.

How To Apply For Avanse Education Loan

  • Visit  Dialabank for an education loan.
  • Go to the Avanse Education Loan page.
  • Check out all the eligibility and documents criteria for an education loan.
  • Fill out all the details required in the Education Loan application form.
  • Once done, our representative will soon contact you for a further stress-free process.

FAQs For Avanse Education Loan

News For Avanse Education Loan

List of Approved Institutes

  • Architecture college
  • Law college
  • Medical college
  • Pharmacy college
  • Engineering college
  • Bio-technology
  • college
  • Management college
  • Science, Commerce, and Arts college
  • Physical education college
  • B.ED college

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