Auxilo is one the popular NBFCs that provide financial assistance to pursue higher education in India and study abroad. It proudly offers educational loans for defence personnel and their wards. Auxilo education loans are known for quick processing time and fastest loan sanctions. The NBFC provides 100% financing and covers all education costs.
Auxilo education loans for the defence of wards of defence personnel are provided at competitive interest rates. Let’s know all the details like features, benefits, documents required, and how to apply in this blog.
Table of contents
Overview of Auxilo Education Loan for Wards of Defence Personnel
Auxilo introduced its Defence education loan scheme to recognise the great contributions of Defence men and women. In appreciation of their meritorious services, Auxilo took an optional step to be able to support the cause of children and enrol them in higher education if at times they cannot afford it through Auxilo education loan services.
Auxilo offers the Special Education Loan for the Children of the Indian Defence Forces at Zero Processing Fees. This is designed to induce a large number of aspirin students to pursue their global dreams, encouraging them to take on the Auxilo privilege loans according to their needs. Applicants can enjoy smooth college admission support and faster sanctioning with timely document submission.
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Features and Benefits
Here are some of the features and benefits of taking an Auxilo defence loan, specially designed for the wards of defence personnel.
- Need-based Financing- There is no upper limit on the maximum amount of education loan.
- Competitive Interest Rates- As compared to other lenders, the Auxilo education loan interest rates are low and competitive.
- Flexible Repayment Options- Applicants have various repayment options to choose from as per their needs and requirements.
- Faster Loan Sanctions- Auxilo education loans have faster loan processing time and quicker loan approvals with hassle-free disbursement.
- Zero Processing Fees- Unlike other banks and NBFCs, Auxilo doesn’t charge any fees for processing the education loans for wards of defence personnel.
How To Apply?
Auxilo Education Loans for wards of Defence Personnel have an easy and smooth application process that is online. You need to simply fill in the personal information like name, email ID, and phone number. Besides, the applicant needs to select the place of study, loan amount, co-applicant, and other details as asked.
- Visit the Official Website of the Auxilo.
- Click on ‘Student Education Loan’ on the menu bar.
- Navigate to ‘Privilege Loan’.
- Click on ‘Apply Now’.
- Fill in the information as asked.
- Accept the terms and conditions.
- Click on ‘Submit’.
Documents Required
To apply for the Auxilo defence education loan scheme, the applicants are required to submit documents related to personal details, academic backgrounds, university acceptance letters, income documents, collateral documents, and many others. Here’s the list of documents required for education loan for wards of defence personnel-
- PAN or Form No. 60 as defined in Income-Tax Rules, 1962
- Officially Valid Documents – OVD (ANY 1):
- Valid Passport
- Voter Identity Card
- Driving License
- Self-attested photograph from the customer
- The designated officer of the company shall certify under his signature that the person opening the account has affixed his signature or thumb impression in his/her presence
Accounts opened under simplified procedure shall remain operational initially for 12 months within which CDD as per the policy shall be carried out. - Academic Documents- Class X, XII and graduation results
- Parent’s latest salary slip/Form 16 along with the latest salary certificate
- Previous two years’ income tax returns
- Admission letter
- Passing certificate
- School leaving certificate
- High school examination mark sheet
- Educational documents
- Copy of fee acknowledgement slip
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Eligibility Criteria for Auxilo Defence Loan
To be eligible for defence education loan, parents (Co-borrower) of the applicants must be serving in Defence Forces. In short, Auxilo extends its eligibility to the children of defence personnel, offering them the opportunity to access financial support for their educational pursuits.
FAQs
Auxilo introduced its Defence education loan scheme to recognise the great contributions of Defence men and women. Auxilo educational loans for the wards of defence personnel is a financial assistance provided to the children of defence forces.
There is no upper limit on the maximum amount that can be availed by Defence personnel from Auxilo. They offer need-based financing.
Unlike other banks and NBFCs, Auxilo doesn’t charge any processing fees. The bank is renowned for providing education loans at zero processing fee.
You can apply for Auxilo Education Loans for wards of Defence Personnel online. Visit the Official Website of the Auxilo and click on ‘Student Education Loan’ on the menu bar. Navigate to ‘Privilege Loan’ and then click on ‘Apply Now’. Now, fill in the information as asked and submit the form.
To apply for the Auxilo defence education loan scheme, the applicants are required to submit documents related to personal details, academic backgrounds, university acceptance letters, income documents, and collateral documents (if applicable).
This was all about Auxilo education loan for wards of defence personnel. To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
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