Among the many financial institutions offering education loans, Auxilo Finserve Pvt. Ltd. stands out as a specialized Non-Banking Financial Company (NBFC) dedicated to funding higher education. The Auxilo education loan to study abroad is designed to cater to the needs of students by offering customized loan solutions with flexible repayment options.
Auxilo education loan to study abroad provides financial assistance for students aiming to study at prestigious universities worldwide. With competitive interest rates, high loan amounts, and minimal processing time, it has become a preferred choice for students seeking hassle-free funding. Whether covering tuition fees, living expenses, travel costs, or other study-related expenditures, Auxilo ensures that students can focus on their education without financial stress.
Let’s explore all the important details related to Auxilo education loans to study abroad, interest rates, benefits, and repayment details.
Table of contents
- Auxilo Education Loan to Study Abroad
- Features of Auxilo Education Loan to Study Abroad
- Auxilo Education Loan Interest Rates
- Benefits of Auxilo Education Loan for Study Abroad
- Courses Covered Under Auxilo Education Loan
- How to Apply for Auxilo Education Loan?
- Eligibility Criteria
- Documents Required
- Applicable Charges on Auxilo Education Loan
- FAQs
Auxilo Education Loan to Study Abroad
Auxilo offers various types of education loans, including Study India loans, Study Abroad loans, Executive Education loans, Privilege loans, Skill Education Loans, and refinancing options. The application process is designed to be simple and hassle-free, with features such as doorstep service for document collection.
Auxilo provides 100% financing with no margin money required, making it easier for students to secure the funds they need. The repayment period is flexible, allowing borrowers to start repayment six months after course completion or upon securing employment.
| Feature | Details |
|---|---|
| Maximum Loan Amount | No limit; fully funded based on requirements |
| Interest Rates | 15.10% p.a |
| Repayment Tenure | Up to 12 years |
| Processing Fees | Generally around INR 250 |
| Processing Time | Typically completed within one week |
| Margin Money | Zero margin money required |
| Countries Covered | India and various countries including the US, UK, Canada, Australia, Germany, France, New Zealand, and Ireland |
Features of Auxilo Education Loan to Study Abroad
Auxilo offers a range of benefits tailored to meet the financial needs of students aspiring to study abroad. From full financing to fast loan sanctions, these features ensure a smooth and hassle-free loan experience, including a flexible Auxilo education loan repayment plan.
High on Services: Auxilo offers dedicated support, personalized assistance, and a hassle-free loan application process.
100% Financing: Auxilo covers the entire cost of education, including tuition fees, living expenses, travel, and other related costs.
Pre-Admission Loan: Students can apply for a loan even before securing admission, ensuring financial preparedness.
Merit-Based Loans: Special loan schemes are available for academically outstanding students with favourable terms.
Attractive Interest Rate: Competitive interest rates make repayment manageable, with potential concessions for eligible candidates.
Pre-Visa Disbursement: Loans can be disbursed before obtaining a student visa, helping students meet financial prerequisites.
Score-Based Benefits: Loan terms may be customized based on the applicant’s academic and financial profile.
Fastest Loan Sanctions: A streamlined approval process ensures quick loan disbursement.
Also Read: Terms and Conditions for Education Loan for Students
Auxilo Education Loan Interest Rates
Auxilo aims to offer competitive interest rates to students applying for an education loan. The interest rate on an Auxilo education loan is calculated as follows:
Interest Rate = Auxilo Base Rate + Spread
- The current Base Lending Rate is 15.10%.
- The Spread is determined individually, based on an analysis of the applicant’s creditworthiness and course profiling.
- The interest rate is floating in nature, meaning it may change over time.
- Interest is calculated using the Simple Interest Rate with a monthly rest.
This interest rate is subject to the terms and conditions of Auxilo Finserve Pvt. Ltd., ensuring transparency and affordability for students seeking financial assistance for their higher education abroad.
Benefits of Auxilo Education Loan for Study Abroad
Auxilo offers a host of benefits that make it a preferred choice for students seeking financial support for overseas education. From quick loan approvals to 100% financing, Auxilo ensures a smooth borrowing experience tailored to student needs.
- Fastest Loan Sanction: Auxilo’s streamlined process ensures fast documentation and approval so that students receive their loans without delays.
- 100% Financing: The loan covers all education-related costs, including tuition fees, examination fees, living expenses, travel expenses, and pre-admission costs.
- Pre-Admission Loan: Students can secure funding even before admission, helping them provide ‘proof of funds’ to their chosen university.
- Customized for You: Auxilo tailors its education loan offerings according to student needs and career goals, ensuring timely financial support.
Courses Covered Under Auxilo Education Loan
Auxilo provides financial support for a wide range of academic programs, ensuring that students from diverse educational backgrounds can achieve their study abroad goals. The loan covers:
- Vocational Training, Executive Programs, and Other Specialized Courses approved by Auxilo.
- Undergraduate, Postgraduate, and Professional Courses offered by universities and colleges approved by regulatory bodies like UGC, AICTE, IMC, and other government authorities.
- Technical and Professional Courses in fields such as management, medicine, law, engineering, aviation, and more.
- Degree and Diploma Programs from prestigious independent institutions like IITs and IIMs, subject to Auxilo’s approval.
- Courses Offered by Foreign Universities in India, provided they are recognized institutions.
Also Read: What are the Pros and Cons of Paying-Off Student Loans Early?
How to Apply for Auxilo Education Loan?
Applying for an Auxilo education loan to study abroad is a simple and hassle-free process designed for quick approvals. The streamlined application ensures students can secure funds without unnecessary delays. Here’s a step-by-step guide to applying:
Get Funded: Once the loan is approved, the funds will be disbursed. Depending on the requirement, tuition fees may be transferred directly to the university, and living expenses to the student’s account
Reach Out to Auxilo: Begin by contacting Auxilo with your study abroad loan requirements. Their team will guide you through the process, discuss your academic background, and help structure a loan that fits your needs.
Begin the Application Process: Submit the online loan application along with the required documents. These include proof of admission, academic records, financial documents, and any additional information needed for verification.
Loan Structuring: Auxilo will assess your application, verify your documents, and structure the loan accordingly. At this stage, you may need to finalize co-applicants and provide collateral security if applicable.
Also Read: Terms and Conditions for Education Loan for Students
Eligibility Criteria
To qualify for an Auxilo education loan to study abroad, students must meet certain eligibility criteria set by the lender. These criteria ensure that students and their co-borrowers have the financial and academic stability required for loan approval. Below are the key eligibility requirements:
For Students
- The student applying for the education loan must be an Indian citizen and at least 18 years old.
- The student must have a confirmed admission in a recognized international institute before loan disbursement.
- The education loan must be co-signed by an earning co-borrower in India.
For Co-Borrowers
- The co-borrower must have an account in an Indian bank with cheque-writing facilities.
- The co-borrower will act as the primary debtor and be responsible for loan repayment.
- The applicant must be an Indian citizen.
Documents Required
The following documents should be submitted as scanned copies when applying for an Auxilo education loan:
Applicant’s documents:
- Know Your Customer (KYC)
- Aadhar card
- Permanent Account Number (PAN) card
- SSC, HSC, graduation certificate
- Passport
Co-Applicant’s Documents:
- 16 Income Tax Returns (ITR)
- Pay slips
- Aadhar card
- PAN card
- Bank statements
Applicable Charges on Auxilo Education Loan
Before applying for an Auxilo education loan to study abroad, it’s essential to understand the associated charges. Below is a detailed breakdown of the applicable fees:
| 2% of the sanctioned loan amount or as per the Sanction Letter | Particulars |
|---|---|
| Processing Fee (PF) | Included in the PF for one property and any additional property given as security during the loan tenure charges INR 4000/- plus applicable tax |
| Cheque/NACH/ Pre-EMI/ EMI bounce charges | INR 400 plus applicable tax |
| Default Penal Charges (on delayed instalment) | 18% per annum plus applicable tax |
| Prepayment Charges | NIL |
| Property Legal and Technical verification charges | Included in the PF for one property and any additional property given as security during the loan tenure charges INR 4000/- plus applicable tax |
| Loan Recovery Charges (Legal & incidental) | As per actuals |
| Demand Draft / Pay order issuance charges | Applicable as per Actual Bank Charges |
| Demand Draft Cancellation charges | INR 500 plus applicable tax |
| ROI Conversion charges | As per applicable Company Policy |
| Non-Postal Stamp / Stamp Duty on Loan documents | Applicable as per State Stamp Act |
| NACH/Cheque/NACH swapping charges | INR 500 plus applicable Tax |
| Duplicate No Dues Certificate | INR 250 plus applicable Tax |
| Copies of Property documents – Hard Copies / Scan images | INR 2000 plus applicable tax |
| Custodian Fee for keeping Original Property documents after loan is closed | Custodian Fee for keeping Original Property documents after the loan is closed |
To sum up, the Auxilo education loan to study abroad is an excellent financing option for Indian students aspiring to study in international universities. With flexible repayment terms, high loan amounts, and competitive interest rates, Auxilo makes overseas education accessible.
If you’re planning to pursue higher education abroad, considering Auxilo’s education loan could be a smart financial decision. Start your loan application process today and take a step closer to studying abroad. Let Fly Finance help you and make your dreams come true!
FAQs
There is no fixed limit; Auxilo provides up to 100% financing based on your needs.
The interest rate is 15.10% (Base Rate) + Spread, which varies based on your profile.
Auxilo offers both secured (with collateral) and unsecured (without collateral) loan options.
Repayment begins six months after course completion or upon securing a job.
Yes, Auxilo provides pre-admission loans to ensure financial readiness.
Yes, the loan covers tuition, living expenses, travel, and other education-related costs.
Typically, loan approval is completed within a week, subject to documentation.
No, Auxilo provides zero-margin money loans, covering 100% of the costs.
Your eligibility depends on your co-applicant’s financial profile and your academic background.
Yes, pre-visa loan disbursement is available to meet financial requirements for the visa process.
To learn more about education loans, the best bank accounts for students, forex, banking experience for global students, or international money transfers, reach out to our experts at 1800572126 to help ease your experience with studying abroad.
Follow Us on Social Media
hi
will Auxilo provide loan for MBA students who are going study in USA. If yes can I know the requirements and process for applying loan, please.
Hi,
Yes, Auxilo provides loans for MBA students planning to study in the USA. They provide upto 100% financing depending on the student profile. To be eligible, you must have an acceptance letter from a recognized university in the USA. Additionaly, co-borrower is required, who should also be an Indian citizen and have a stable income. To apply, you can either visit Auxilo’s official website or connect with our loan experts at Fly.Finance to get the best interest rates on your loan.
For more details, reach out to our experts at 1800572126 to help ease your education loan and other services.