Avanse Financial Services Ltd

Avanse is a new age education finance company. We are an Associate Company of Dewan Housing Finance Ltd. (DHFL), a leading player in the housing finance sphere. Avanse is a Non Banking Finance Company (NBFC) and is regulated by the Reserve Bank of India.

Avanse was conceived with the aim to fulfill the gnawing need for education finance at reasonable terms, thus enabling every student to pursue their right to an education of their choice and achieve their career goals.

The word Avanse has been derived from the French word ‘Avance’, which means ‘to advance’. This meaning has become the cornerstone of the brand promise, which encourages students to chart out the course to their future, without encumbrances or any limits. The essence of the brand has thus been distilled and well encapsulated in the tagline: “Aspire Without Boundaries”

Avanse Financial Services Ltd:

Education loans alter the course of a person’s life by being a helping hand in giving them power to gain knowledge by going for higher studies that can prove beneficial for the rest of their life.

Education Loans Offered By Us:

Studying In India:

Pursuing higher education in India has become a costly affair. This has led to an increased demand for student loan. At Avanse, we have made the pursuit of higher education a bit easier by providing 100% education finance.

Eligibility Criteria:

To be eligible for a loan, the following criteria must be met:

The student taking the study loan must be an Indian Citizen and 18 years old or above.

There must be confirmed admission in the Institute before final disbursement of the student loan

The student loan must be co-signed by an earning co-borrower in India.

CO-BORROWERS:

The co-borrower must be an Indian Citizen and should be parent(s)/guardian or sibling of the student borrower. In case of married person, co-borrower can be spouse also.

.The co-borrower must have a bank account in any bank in India with cheque writing facilities

The Co-borrower would necessarily be the primary debtor.

COURSES:

Graduation, Post-graduation and professional Degree/Diploma courses conducted by colleges/universities approved by UGC/AICTE/IMC/Govt. etc

Technical / Professional courses like Engineering, Medical, Law, Management, Pilot Training etc

Degree/ Diploma Courses offered by autonomous institutions like IIT, IIM etc and approved by Avanse Financial Services Ltd.

Courses offered India by Reputed foreign universities

Vocational Training, Executive Programs and other courses that have been approved by Avanse Financial Services Ltd.

DOCUMENTS REQUIRED:

Student KYC & Educational Documents

Course & Fee Details

Co-Borrower KYC and Income Documents

Collateral Documents

Loan Amount:

The minimum amount: `50,000.00. We do not believe in putting limits to your dream of pursuing higher studies, we offer structured study loan that meets the necessary needs and cost of education.

Loan Coverage:

Avanse takes care of all the aspects that are part of higher education; we provide the maximum cover to meet the demands of your course in the entire duration of your study.

100% Tuition Fee as determined by the Institute or University

Living Expenses including purchase of Books, Computers and other expenses essential to complete the course (up to 75% of total living cost though not exceeding 20% of the total tuition fee)

Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts but not exceeding 10% of the total tuition fee.

Margin Money:

We do not ask for the Margin money contribution from our applicant / student. Our student loans are designed to provide 100% coverage of the cost of course thus making it easy for the student and the co-borrower.

Interest Rates:

We always aim to offer you competitive interest rates on your study loan. The rate of interest on your study loan is calculated as; Interest Rate = ABLR + Spread where ABLR is the Avanse Base Lending Rate benchmarked by us. Our current Base Lending Rate is 11.5%

The Spread is determined individually and is based on analysis of the credit and course profiling.

Rate of interest on student loan will be floating in nature.

Interest is calculated using Simple Interest Rate.

This rate is subject to the terms and conditions of Avanse Financial Services Ltd.

Disbursement:

The Study Loan Amount will be disbursed in Indian Rupees.

The Tuition and hostel fee will be directly disbursed to the respective institute in installments, as per the stated schedule. The student loan amount related to other expenses will be disbursed in installments spread over the duration of the study, and ideally will be transferred to the co-borrower’s account. In the case, student is not residing in the hostel, the fee is transferred to the co-borrower’s account.

Repayment:

Minimum Repayment Tenure: 12 Months

Maximum Repayment Tenure: 120 Months (Including course duration)

Grace Period is of 6 Months after the course is complete or 3 months after getting the Job, whichever is earlier.

REPAYMENT TYPES:

As a responsible lender, we understand the importance of your education loan and has devised options to help you maintain a good line of credit. So, while you enjoy financial independence, you are also responsible for maintaining it. Avanse offers you the flexibility of repaying your study loan while studying as well as on completion of your course.

Interest servicing during the course

Partial Interest servicing during the course

EMI Repayment during the course

EMI repayment post Holiday / Moratorium period

Step Up repayment facility

For more details on how these repayments can help you click here

Security:

Security for the Loan is determined by the quantum of amount required and the credit worthiness of the principal borrower. At Avanse, following types of Collateral are accepted:

Residential property ( house/flat/apartment)

Fixed Deposit with DHFL preferably or any other deposit taking organization, assigned in favor of AVANSE.

Life insurance with surrender Value equivalent to required security coverage.

Existing House mortgaged with DHFL can be taken as security on second charge basis provided it covers the required amount.

Non agricultural land

Processing Fees:

Avanse charges Processing fee between 1-2% of the loan amount and is calculated on a case-to-case basis. The final amount is arrived in the course of processing the application.

Studying Abroad:

Avanse feels proud to be your partner in studying abroad by giving you education loan at competitive interest rate.

Eligibility:

To be eligible for a loan, the following criteria must be met:Students

The student taking the study abroad loan should be an Indian citizen and 18 years old or above

There must be confirmed admission in the Institute before final disbursement of the education loan

The study abroad loan must be co-signed by an earning co-borrower in India.

CO-BORROWERS:

The co-borrower of abroad studies loan must be an Indian Citizen and could be a Parent, Sibling, Legal Guardian, or any other Relative.

They must have a bank account in any bank in India with cheque writing facilities

The Co-borrower would necessarily be the primary debtor.

COURSES:

Graduation/ Post-graduation for job oriented professional/ technical courses offered by reputed universities outside India as well as courses and universities approved by Avanse for education financing.

DOCUMENTS REQUIRED:

Student KYC & Educational Documents

Course & Fee Details

Co-Borrower KYC and Income Documents

Collateral Documents

For more details on how these repayments can help you click here…

Loan Amount:

The Minimum amount given as study abroad loan is Rs. 1,00,000.00/-

At We do not believe in putting limits to your dream of a higher education, we look at structuring the study abroad loan to meet your necessary needs and cost of education.

LOAN:

100% Tuition Fee as determined by the Institute or University

Living Expenses including purchase of Books, Computers and other expenses essential to complete the course (up to 75% of total living cost though not exceeding 20% of the total tuition fee)

Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts though not exceeding 10% of the total tuition fee.

Travel expenses / passage money up to ` 75000/- for students travelling abroad.

Loan Coverage:

Avanse takes care of the many aspects that come in with higher education; we provide the maximum cover to meet the demands of your course in the entire duration of your study.

100% Tuition Fee as determined by the Institute or University

Living Expenses including purchase of Books, Computers and other expenses essential to complete the course (up to 75% of total living cost though not exceeding 20% of the total tuition fee)

Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts but not exceeding 10% of the total tuition fee.

Margin:

At We do not ask for any Margin money contribution from our applicant. Our study abroad loans are designed to provide 100% coverage of the cost of education, thus doing away with this burden, leaving the student to focus on his/her studies.

Interest Rates

We always aim to offer you competitive interest rates on your Avanse Education loan. The rate of interest on your loan is calculated as; Interest Rate = ABLR + Spread

Where ABLR is the Avanse Base Lending Rate benchmarked by Avanse. Our current Base Lending Rate is 11.5%

The Spread is determined individually and is based on analysis of the credit and course profiling.

Interest Rates:

Rate of interest on study abroad loan will be floating in nature.

Interest is calculated using Simple Interest Rate with Monthly rest.

This rate is subject to the terms and conditions of Avanse Financial Services Ltd.

Disbursement:

The Loan amount will be disbursed in Indian Rupees.

The Tuition and hostel Fee will be directly disbursed to the educational institute ,in installments, as per the requirement of the specific educational institute

The loan amount related to other expenses will be disbursed in installments spread over the duration of the study, and ideally will be transferred to the co-borrower’s account

In case the student resides outside the hostel, the fee will be transferred to the co-borrower’s account.

In case of abroad cases, money will be transferred as per agreement with third party FOREX vendor.

Repayment:

Minimum Repayment Tenure: 12 Months

Maximum Repayment Tenure: 120 Months (Including course duration)

Grace Period of 6 Months after the course is complete or 3 months after getting the Job.

REPAYMENT TYPES:

As a responsible lender, Avanse understands the importance of your education loan and ensures that you are supported with various options to maintain a good credit so that you not just enjoy your financial independence but are responsible for maintaining it too.

Avanse offers you the flexibility of repaying your education loan while in school as well as on completion of your course,

Interest servicing during course

Partial Interest servicing during course

EMI Repayment during the course

EMI repayment post Holiday / Moratorium period

Step Up repayment facility

Security:

Security for the Loan is determined by the quantum of amount required and the credit worthiness of the principal borrower. At Avanse the following types of Collateral Security are accepted:

Residential property ( house/flat/apartment)

Fixed Deposit with DHFL preferably or any other deposit taking organization, assigned in favor of AVANSE.

Life insurance with surrender Value equivalent to required security coverage.

Existing House mortgaged with DHFL can be taken as security on second charge basis provided it covers the required amount.

Non agricultural land

Processing Fees:

We charge a Processing fee between 1-2% of the loan amount and is calculated on a case-to-case basis. The final amount is arrived in the course of processing the loan application.

Pre Approved Loan:

The Avanse Pre Approved Loan (PAL) is designed to help students who are planning to pursue their higher education overseas especially in the USA, where admission is not secured unless the student has demonstrated “Assured Funding to Complete the Course”. The problem here is that most banks and lenders across India require the student to present the Admission Confirmation from their University, leaving the students in a quandary.

An assured and valid funding source at the time of application increases the likelihood of admission to the University / Campus of choice.

The Avanse PAL an in-Principle Sanction letter of Education loan, is the perfect solution secure your admission. The student can be equipped with our Pre-Approved loan’ even before they start the application process, thus improving the prospect of admission in the desired university in the desirous University, with the most solid ‘Proof of Fund’s that they would ever need. The Avanse PAL is packed with features making it the perfect PAL for aspiring students.

Salient Features:

Get the Loan Sanctioned even before applying to Universities

Extended validity up to 9 months from issuance

Get Multiple Copies of the Sanction letter for multiple applications

Fast, Transparent & Hassle Free Loan Process

Door Step Service

Who Should take the PAL:

Students planning to study abroad especially in the USA

Students who are currently preparing for their GRE/GMAT

Student who have already tested for GRE/GMAT/ and have their scores but haven’t finalized their university choices

Sanction Criterion:

Income Earning Co-Applicant

Rate of Interest would be at market prices applicable at the time of actual disbursement.

Disbursement Criterion:

Admission Confirmation from an Accredited Institute

Submission of applicants I-20 & Visa Documents

Updated KYC and Financial Documents

Meeting security collateral requirement for the loan

At the disbursement stage, unfavorable deviations & misinterpretation shall not be acceptable, documents and financials provided during the issuance of the in-Principle Sanction letter.

Education Loan for Working Professionals:

Education is the most important investment one can make in life. As a working professional, you always strive hard to get appreciated or promoted. Pursuing a higher order education qualification is perhaps the only way to enhance your growth prospects. Avanse can help you achieve your goals by providing the much needed financial support.

Eligibility: 

The student should be an Indian National with minimum work experience of 2 years in a Government/ Corporate/Multinational concern.

The minimum age of the student should be 18 or above.

Should have secured admission or intimation of final selection to the desired Professional Programme of a reputed institution in India or abroad.

The institute must be approved by Avanse.

Co-borrower may or may not be required depending on the quantum and credit worthiness of the borrower

COURSES:

Mid-career management programmes,

Professional or Technical programs

Online and Correspondence Courses

Offered by leading institutions or universities or approved by Avanse Financial Services.

DOCUMENTS REQUIRED:

Student KYC & Educational Documents

Course & Fee Details

Co-Borrower KYC and Income Documents

Collateral Documents

Loan Amount:

Minimum:` 100000/-

There are no limits to what you can achieve in your career and so we have no limit to the Avanse Education loan for executive professionals. We believe in helping you shape your dream career and have tailor made loans to meet the necessary cost of your education.

Loan Coverage:

Avanse takes care of the many requirements that a higher education entails. Our executive loan services provide the maximum cover to meet the demands of your course for the entire duration of your study.

100% Tuition Fee as determined by the Institute or University

Living Expenses including purchase of Books, Computer and other expenses essential to complete the course (up to 75% of total living cost though not exceeding 20% of the total tuition fee)

Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts though not exceeding 10% of the total tuition fee.

Travel expenses / passage money up to ` 75000/- for students travelling abroad.

Margin:

At Avanse, we do not ask for any Margin money contribution from our loan applicant / student. Our Executive Education Loans are designed to provide 100% coverage of the cost of education, thus doing away with this unnecessary burden, leaving the student to freely pursue his / her higher education.

Interest Rates:

We always aim to offer you competitive interest rates on your Avanse Education Loan for Executive Professionals. The rate of interest on your loan is calculated as; Interest Rate = ABLR + Spread

(Where ABLR is the Avanse Base Lending Rate benchmarked by Avanse)

Our current Base Lending Rate is 11.5%

The Spread is determined individually and is based on analysis of the credit and course profiling.

Rate of interest:

Rate of interest will be floating in nature.

Interest is calculated using Simple Interest Rate with Monthly rest.

This rate is subject to the terms and conditions from Avanse Financial Services Ltd.

Disbursement:

The Education Loan Amount will be disbursed in Indian Rupees.

The Tuition and hostel Fee will be directly disbursed to the educational institute ,in instalments, as per the requirement of the specific educational institute

The loan amount related to other expenses will be disbursed in instalments spread over the duration of the study, and ideally will be transferred to the student or co-borrower’s accounts.

In case of residing outside hostel, the fee will be transferred to the student or co-borrower’s accounts.

In case of abroad cases, money will be transferred as per agreement with third party FOREX vendor.

Repayment:

Minimum Repayment Tenure: 12 Months

Maximum Repayment Tenure: 120 Months (Including course duration)

REPAYMENT TYPES:

EMI on Education Executive Loan starts immediately after the first tranche is disbursed. EMI amount will change after each disbursement.

Security:

Security for the Loan is determined by the quantum of loan required and the credit worthiness of the principal borrower. At Avanse the following types of Collateral Security are accepted:

Residential property (house/flat/apartment)

Fixed Deposit assigned to Avanse Financial Services Ltd.

Life insurance with surrender Value equivalent to required security coverage.

Plot as per Avanse Financial Services Ltd policy.

Processing Fees:

Avanse charges a Processing fee between 1-2% of the loan amount and is calculated on a case-to-case basis. The final amount is arrived at in the course of processing the loan application.

Benefits of Education Loan:

Covers 100% of course fees and living expenses

Available for all courses

Hassle-free and transparent process

Doorstep service

Loan Approval in minimum 4* days

Flexible Repayment

Quick loan sanction

Flexibility on collateral security

Customized solutions with flexibility in loan structuring

Emphasis on Responsible Borrowing.