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Eligibility for Avanse Education Loans

Last Updated 07th Mar 2018

Particulars Eligibility
Loan amount ₹ 50 Lakh
Loan Tenure 10 months
Co-applicant Required Yes
Prepayment Charges Nil

Avanse Education Loan Interest Rate Jun 2021

Every child needs a quality education in order to lead a complete, successful and comfortable life. Unfortunately, such education comes at a cost that not everyone who deserves it can afford. That is where education loans comes into play.Education loans are funds offered by banks and financial institutions to meritorious students to help them pursue their dream course.

Avanse DHFL Education Loan Interest Rate is quite competitive for education in India’s finest institutes and on studying abroad.Interest rates on Education Loans are floating, and vary with the changes in MCLR. Avanse DHFL Education loan interest rates are in the range of 12.65% and 12.75%.

Education Loan Avanse

Determinants of Eligibility for Education Loans

  Courses in India Courses Abroad IIT, IIM, ISB Courses
Max Loan Amount ₹ 50,00,000 ₹ 50,00,000 ₹ 50,00,000
Interest Rates      
Loans upto ₹ 4,00,000 12.65 % Base Rate + Spread 12.65 % Base Rate + Spread 12.65 % Base Rate + Spread
Loans ₹ 4,00,000 - ₹ 7,50,000 12.65 % Base Rate + Spread 0.00 % Base Rate + Spread 12.75 % Base Rate + Spread
Loans > ₹ 7,50,000 12.65 % Base Rate + Spread 12.65 % Base Rate + Spread 12.65 % Base Rate + Spread
Margin requirement (own contribution by student/ family)      
Loans upto ₹ 4,00,000 0% 0% 0%
Loans above ₹ 4,00,000 0% 0% 0%
Max Tenure Post Moratorium      
Loans upto ₹ 7,50,000 10 years 10 years 10 years
Loans above ₹ 7,50,000 10 years 10 years 10 years
Co-Applicant required (Y/N) Yes Yes Yes
Third Party Guarantee      
Loans upto ₹ 4,00,000 Not required Not required Not required
Loans ₹ 4,00,000 - ₹ 7,50,000 Required Required Required
Loans > ₹ 7,50,000 Not required Not required Not required
Collateral Security (Fixed deposit/ Property, LIC)      
Loans upto ₹ 4,00,000 Required Required Required
Loans ₹ 4,00,000 - ₹ 7,50,000 Required Required Required
Loans > ₹ 7,50,000 Required Required Required
Prepayment Charges (Y/N) Nil Nil Nil
Moratorium Period (lower of the two)      
After course period 6 months 6 months 6 months
After getting job 3 months 3 months 3 months

Avanse DHFL Education Loan

Education Loan amount can be used for a variety of purposes, covering all aspects of needs that a student might have with respect to his studies. These include:

  • The purchase of books, uniform, stationery
  • The purchase of laptops, tablets (as per the demand of the course)
  • Examination, library and hostel fees
  • Travel expenses/ passage money for studies abroad.
  • Additional costs deemed necessary for the completion of the course.

Avanse DHFL Student Loan Features

Avanse DHFL student loans come with the following attractive features:

  • No limit on the Education Loan amount (varying from case to case)
  • Customized solutions with flexibility in loan structuring.
  • 100% coverage, or zero margin requirement

Avanse DHFL Education Loan Eligibility

Parameters Avanse DHFL Education Loan Eligibility Criteria
Age of the Applicant
  • Upto 35 years for non-employed personnels
  • Upto 45 years in case of working employees/ executives
Who can apply
  • An Indian National having secured admission to professional/technical courses in recognized institutions.
  • Permanent employees who are employed for not less than three years with any organisation and who intend to acquire higher professional qualifications and have secured admissions in a reputed institute.
Maximum Loan Amount
  • Upto ₹ 50,00,000 for studies in India.
  • Upto ₹ 50,00,000 for studies abroad.
  • Upto ₹ 50,00,000 for studies at IIT's, IIM's and ISB's.
  • These amounts are subjective to margin requirements as mentioned in the table above
Repayment Frequency
  • Quarterly or monthly rests.
  • Repayment in Education Loans typically starts 1 year after completing the course or six months after getting a job, whichever is earlier.
  • Loan interest re‐payment will start immediately after disbursement of the first installment of the loan.
Repayment Period
  • Tenure of an Education Loan consists of Duration of Study, Grace Period after the Study and Repayment Period.
  • For Indian courses repayment tenure is maximum of 10 years after the commencement of repayment.
  • For Abroad courses repayment tenure is maximum of 10 years after the commencement of repayment.

Avanse Education Loan EMI Calculator

Avanse Education Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Avanse against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.

Avanse Education Loan repayment calculator calculates EMI based on the loan amount you have applied for, interest charged on loan and the tenure for which you have applied. offers affordable and convenient education loans with loan EMIs as low as ₹ 10,589 per lakh for a 10 years tenure and lowest rate of interest of 12.65%.

FAQs

What is the procedure of education loan in Avanse?

To borrow money for an education loan from Avanse, all you need to do is visit the nearest Avanse branch, fill the application form, submit the required documents. You can also apply for an education loan by visiting the official website of Avanse.

Can we get an education loan without security?

To get an education loan upto ₹ 4 Lakh, you need to provide co-borrower security of your parents or husband and does not require any third-party guarantee or tangible security.

Is the property required for an education loan?

To get an education loan above ₹ 7.50 Lakh, you need to provide co-borrower security and tangible security equivalent to 100-133% of the loan amount as collateral. The tangible security is provided in the form of property, shares, fixed deposits etc.


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Avanse Education Loan News - Jun 2021
  • 2018-03-07 : Avanse launches exclusive education loan offer for girl students
    In the spirit of Women’s Day 2018, Avanse Financial Services (Avanse) has announced an exclusive education loan offer for girl students for higher education. The benefits include 12-year term as against the available 10-year term, 25% discount on processing fee and a 1% reduction on Rate of Interest. The offer starts from March 8, 2018 and concludes on March 31, 2018.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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