India's youth population is poised to drive its status as a superpower country. But despite this, there is still so much room for improvement in India's higher education system. That is why millions of Indians are opting for their degrees abroad. While financing overseas education abroad was once a challenge, now the availability of loans from various financial institutions has made it more accessible than ever before.
Speaking of financial institutions, Non-Banking Financial Companies (NBFCs), especially Auxilo is gaining popularity among Indian students. So, what exactly is Auxilo, and how to get education loan for abroad studies from one of the most preferred NBFCs? Well, in this article, we will delve into everything you need to know about Auxilo to give you a clear understanding.
Back in 2017, when India was experiencing growing interest in Overseas Education, Auxilo Finserve Pvt. Ltd. stepped up as a Pro-Education NBFC. Registered with the Reserve Bank of India, the belief of Auxilo is simple – Every student deserves quality higher education abroad. That is why they have been able to empower more than 10,000 students to pursue their dreams across 1100+ foreign universities in 25 different countries. Let us explore why Auxilo is the first choice for those looking for funding options to finance their higher education abroad.
Let us take a look at the features that set Auxilo apart in the World of Abroad Education Loans:
100% Funding Option
Pre-Admission Loan
Merit-based Loans
Customized Loan Options
Availability of Education Loan for Abroad Studies Without Collateral
Affordable Interest Rates
Flexible Repayment Terms
Credit Score Benefits
Fastest Loan Approvals
Pre Visa-Disbursement
As we have reviewed the features of the Auxilo Overseas Education Loan, it is time for us to examine the essential details that make it a top choice among Indian students.
From Loan Amount to Processing Fees, below given is the table that enlists all the information related to the Auxilo Abroad Education Loan,
| Loan Particulars | Essential Details |
| Loan Amount | Secured Loan: As Per Student’s Requirement Unsecured Loan: Up to Rs. 45 lakhs for USA and Rs. 25 lakhs for other Study Destinations |
| Interest Rate | Secured Loan: 10.25% to 11.5% Unsecured Loan: 11.5% to 12.75% |
| Study Levels | Secured loan: Available for all Academic Levels Unsecured Loan: Exclusive to Master’s degree |
| Moratorium Period | 12 years including course duration |
| Loan Disbursement | Tuition fees directly remitted to the University's account Other Study-Related Expenses are transferred to the Student's Bank Account |
| Borrowers | Aspirant / Parents / Grandparents / First-Blood Family Members |
| Collateral Accepted & Margin | Full Funding is granted against property valuation including Residential Flats, Houses, Shops, Fixed Deposits, etc. |
| Processing Time | 8 to 10 days |
| Processing Fee | 1% to 1.25% of the Total Loan Amount + Applicable GST |
From low Education Loan Interest Rate for Abroad Study to extended Moratorium Periods and Higher Loan Amounts, we feel pretty confident that you will be pleasantly surprised by the attractive features of Auxilo's Education Loan.
For those who are interested in Auxilo's offering, here is a handy list of the required documents:
Know Your Customer (KYC Document): PAN Card / Aadhaar Card
Previous Academic Transcripts
A Valid Passport
Aadhaar Card
PAN Card
Salary or Pay Slips
Bank Statements
Income Tax Returns (ITR) with Supporting Documents
Well, ask any aspirant and they will say that the application process is something that feels very complex. But it is simplest as it could be in the case of Auxilo Abroad Education loan,
Step 1: Reach out to Auxilo to gain a thorough understanding of their Loan Approval Process and initiate your application.
Step 2: Fill out your Loan Application and gather up all the necessary Documents.
Step 3: Upon verification of your application and documents, Auxilo's experts will customize your loan to align with your specific requirements.
Step 4: Fulfill any remaining formalities, such as providing Post-Dated Cheques (if necessary) to finalize your Loan Agreement.
In conclusion, we tried to cover almost everything we could about the Auxilo Abroad Education Loan in this article. From its standout features to the essential documents and application process, we hope this guide helps you make an informed decision about your financial institution of choice.
If you are still comparing options, consider using ÉLAN Overseas Education Loans handy comparison tool. It lets you compare different financial institutions offering Education Loan in India for Studying Abroad by taking various factors into account. The team at ÉLAN Loans even goes the extra mile and serves as trusted financial advisors in the overseas education industry. With their assistance, over 37,000 students have secured the best possible loans to study abroad as per their profiles.
FAQs
Which countries does Auxilo provide Overseas Education Loans for?
According to Visa Regulations, Auxilo is not accepted by visa officers in certain countries such as Australia, New Zealand, and the United Kingdom. In these cases, the funds are disbursed to the student’s account, and the student must maintain the amount for 28 days as per the visa requirements before applying for the visa. For all other countries, Auxilo is accepted in accordance with their visa norms.
What are the Eligibility Criteria for Applicants?
To be eligible, you must be an Indian citizen and at least 18 years old. You should also have a confirmation letter before loan disbursement and have a co-borrower in India with a stable income.
What types of courses does Auxilo cover?
Auxilo covers a wide range of courses, including graduation, post-graduation, and professional degree/diploma courses approved by recognized bodies like UGC/AICTE. This also includes Technical courses like management, medicine, law, engineering, aviation, and more. Vocational training, executive programs, and courses offered by recognized foreign universities in India are also covered.
How does Auxilo evaluate education loan applications?
Auxilo considers over 15 parameters, including creditworthiness and the chosen course, to assess an applicant's eligibility for a loan.
Can I reapply if my application is rejected once?
Yes, Auxilo allows reapplications for education loans. However, you must ensure all required documents are provided and paperwork is completed accurately.
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