Avanse Education Loan

Can you tell me in detail about the eligibility requirement and Loan Coveragefor applying for Education Loan in Avanse? Provide me the contact detail and contact number of Avanse?

[Kiran Chandar]

Avanse is an extract of the French word for advance. And that’s what Avanse, a new age education finance company and an associate company of Dewan Housing Finance Corporation Limited (DHFL), is.

It provides financial assistance through Avanse standalone offices and also through the DHFL network offices. The Company funds students travelling to all key international advanced education destinations including US, UK, Australia etc.

Eligibility Criteria

• One 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 education loan
• The 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.
• The co-borrower need to 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

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

Margin
Study abroad loans are designed to provide 100% coverage of the cost of education, thus doing away with this burden, leaving to focus on studies.

Loan Coverage
• 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.
• Travel expenses / passage money up to Rs. 75000/- for students travelling abroad.

Contact Detail:
Corporate and Registered Office Address
Avanse Financial Services Ltd
Gr. Floor, Madhava Building,
Bandra Kurla Complex,
Near Family Court, Bandra – East,
Mumbai – 400 051
Tel: +91 22 7111 2233 | Fax: +91 22 7111 2234