Avanse Bank Education
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EDUCATION LOAN ABOVE 1 LAC WITH NO UPPER LIMIT FOR STUDY IN INDIA
Interest
Rate
Loan limit Interest Rate
Above 1 Lac 12-14.5%
Loan Amount &
Security
Secured Unsecured
Above 20 Lac Upto 20 lacs
Charges &
Repayment
Processing fees 1-2% of loan amount
Pre payment charges No prepayment allowed in first 6 months
Late Payment 2% per month
Repayment period Upto 10 years
Moratorium period Study period + (6 months if unemployed or 3 months if employed)
Repayment types Partial interest during course period, EMI payment during course, EMI payment after moratorium period
Eligibility
Criteria
  • Indian National
  • Admission confirmed
  • Must have an earning co-borrower in India
Key Benefits &
Coverage
financing
  • 100%
repayment structure
  • Flexible
Loan limit
  • No upper limit of loan amount
Course covered
  • courses conducted by colleges/universities approved by UGC/ AICTE/IMC/Gov
  • Courses conducted by autonomous institutions like IIT, IIM etc.
  • Teacher training/ Nursing courses approved by Central government or the State Government
  • Courses offered in India by reputed foreign universities.
Expenses covered
  • 100% tuition fees
  • Upto 75% of living cost not exceeding 20% of total tuition fees.
Required
Documents
Student Co-Borrower
KYC
  • Aadhaar
  • 2 passport photo
  • residence proof
  • Aadhaar & Pan card
  • residence proof
  • 2 photo
EDUCATION
  • Admit letter
  • cost of study statement
  • X & XII mark sheet
    ---
INCOME
  • Pan card
  • 6 months bank account statement
  • 8 months bank account statement
  • ITR of last 2years /form 16
  • Income proof(salary slip )
SECURITY
    ---
  • Collateral documents