Auxilo Education Loan

1. Customised loan options.
2. No margin money required.
3. Loan sanctions are hassle-free and quick.
4. Funds include all education costs (living expenses, stationary, etc.)
5. Competitive rate of interest.
6. Repayments are flexible.
7. Easy to apply and transparent process.

Types of Education Loan Provided by Auxilo

• Studying in India education loan.
• Studying abroad education loan.
• Executive education loan.
• Education loan re-finance.
• Privilege loans.

Study in India Education Loan

1. Coverage: The expenses covered in the loan include college\hostel fees, examination, library, laboratory fees, stationery, other expenses related to project work\study tours and insurance premium for the student.
2. Rate of Interest: Auxilo Benchmark Rate + spread (floating).
   1. The current Auxilo Benchmark rate is 12.70%.
   2. The spread charged varies depending on the course profiling and credit analysis.
   3. The rate of interest calculated is simple interest.
3. Collateral: Auxilo accepts FDs, insurance policies, real estate properties, etc as security. However, the collateral should be in the name of the applicant himself or guardian\parent.
4. Processing fee: As per the rate mentioned on sanction letter or 2% of the loan amount.

Eligibility for Auxilo Education Loan

Applicant criteria

1. The applicant should be a minimum of 18 years of age or above.
2. The applicant should be an Indian citizen.
3. The application should have admission confirmation from the institute before Auxilo disburses loan.
4. The application should be co-signed by a co-borrower earning in India.

Co-borrower criteria

1. The co-borrower of the applicant should be a citizen of India & related to the applicant (parent, guardian, sibling or relative).
2. The co-borrower should have an account in Indian bank with cheque transaction facilities.
3. The primary debtor will be the co-borrower.

Courses covered by Auxilo Education Loan

1. Any diploma/professional degree, graduation/post-graduation conducted by university or college.
2. Any degree/diploma offered by private institution.
3. Any course offered by a recognized foreign university in India.
4. Any executive program or vocational training.
5. Any professional or technical course like MBA, Engineering, Law, etc.

Eligible Countries

Auxilo offers a education loan to study abroad in the following countries:

1. United Arab Emirates (UAE)
2. New Zealand
3. Singapore
4. Australia
5. Ireland
6. Germany
7. Canada
8. United Kingdom (UK)
9. United States of America (USA)

How to Apply?

Step 1: Contact Auxilo to understand the different parameters of the loan sanctioning process and begin the application.

Step 2: Submit your loan application along with required documents.

Step 3: Once you get your application and documents verified by the authorities at Auxilo, you can get your loan structured as per your needs.

Step 4: Complete the remaining formalities (if any) like submitting post-dated cheques, etc.

Documents Required

To apply for Auxilo education loan, an applicant should submit the scanned copies of the following documents:

For Applicants:

1. Know Your Customer (KYC) documents: Permanent Account Number (PAN) card, Aadhar card
2. Academic documents: SSLC, HSC, graduation
3. Passport

For Co Applicants:

1. Aadhar card
2. PAN card
3. Pay slips
4. Bank statements

1. 16 Income Tax Returns (ITR)

Loan Repayment

The terms and conditions of Auxilo Education Loan states that repayment of the principal amount starts six months after the course completion or when the student gets a job. Until then the student will have to pay a portion of interest on the amount that has been used.

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