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Non-Banking Financial Corporations, also known as NBFCs, have played a major role in catering to the financial requirements of so many people. Some of the leading NBFCs are providing diverse loans for different interest rates. However, one NBFC that is especially known for providing excellent interest rates on education loans is Avanse Financial Services.

Avanse Financial Services is a Non-Banking Financial Corporation that funds education loans for domestic and overseas studies. The company offers loan amounts for various educational needs. The hassle-free application process allows easy access to borrowers to education loans. Students can apply for an Avanse education loan even before they enroll. However, loan disbursement happens after the student successfully secures a seat in the desired program.

But before that, let us understand what Avanse Financial Services are and why they are preferred for education loans.

Avanse Financial Services

Avanse Financial Services is a Dewan Housing Financing Limited (DHFL) associate corporation that provides education loans to Indian students. The company provides financial assistance to students who wish to pursue higher education domestically and internationally. Being a Non-Banking Financial Corporation regulated by RBI, Avanse collaborates with over 400 educational institutions worldwide.

About Avanse Financial Services Education Loans

Education loans are significant financial aid for hard-working, aspiring students who want to study within or outside the country. Being one of the major education loans NBFCs, Avanse understands the needs of the students and offers extremely competitive education loan amounts at better interest rates. Students secure admissions to top universities and colleges in India and abroad with Avanse education loans.

What makes Avanse Financial Services unique?

Some of the features of education loans from Avanse Financial Services are as follows.

  • Complete Financial Assistance for Education : Compared to other Non-Banking Financial Corporations, public banks, or private banks, Avanse Financial Services provides holistic financial assistance regarding education. The education loan is central to Avanse, and the institution is committed to delivering it to students.
  • Interest Rate on Education Loan : Avanse Financial Services provides attractive interest rates on education loans. The interest rate of education loans ranges between 10% to 16%. However, borrowers need to know that the interest rates may vary depending on the borrower’s history and the program selected for the study.
  • Collateral-free Education Loan : What makes Avanse unique for education loans is that it provides collateral-free education loans up to Rs. 75 lakhs. However, borrowers need to know that the sanctioning of collateral-free education loans depends upon the borrower’s history and after verifying all the necessary documents.
  • Fastest Loan sanctioning : It is no surprise that education loans often take a great deal of time due to the processing of documents. However, with Avanse, the education loan gets rapidly sanctioned within 72 hours.
  • Tailor-made loan options : An NBFC like Avanse Financial Services understands that students’ educational requirements differ. Therefore, Avanse provides custom education loan options so that the student does not have to be worried about fulfilling their needs.

Documents required for Education Loans from Avanse Financial Services

When applying for an education loan from Avanse, applicants and co-applicants must submit various documents. The list of documents to be submitted follows:

Identity Proof

Post-Disbursal Documents

For Co-applicants

  • Identity documents
  • Valid Passport
  • Birth Certificate
  • Academic Documents, which include 10th & 12th mark sheets.
  • Graduation certificate
  • Financial Documents
  • Bank statements
  • Fee receipts
  • Consent of co-applicant
  • Relationship proof 
  • Collateral documents, if the loan is taken against security.
  • Income proof
  • Bank statement for the past eight months
  • Signature 
  • Identity proof
  • Residence proof
  • Colored passport-size photographs

Final Thoughts

One of the biggest advantages of taking education loans from an NBFC like Avanse Financial Services is that Avanse offers collateral-free education loans for international and domestic studies with quick loan disbursement. As a result, it is one of the first choices for education loans from NBFCs. At EduLoans, our counselors cater to your requirements, assist in preparing documentation, and help you easily secure an education loan from Avanse. So, take a step toward your dream. Contact us and get more information.