Make college memories that last a lot longer than your student loan payments.

Auxilo Education Loan

Auxilo Finserve Pvt. Ltd. is an education NBFC registered with Reserve Bank of India. This company offers various financial solutions to students in need.

Features and Benefits of Auxilo Education Loan:

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

Types of Education Loan provided by Auxilo:

  1. Studying in India education loan.
  2. Studying abroad education loan.
  3. Executive education loan.
  4. Education loan re-finance.
  5. Privilege loans.

Study in India education loan:

  • 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.
  • Rate of Interest: Auxilo Benchmark Rate + spread (floating).
    • The current Auxilo Benchmark rate is 12.70%.
    • The spread charged varies depending on the course profiling and credit analysis.
    • The rate of interest calculated is simple interest.
  • 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.
  • Processing fee: As per the rate mentioned on sanction letter or 2% of the loan amount.
  • Documents required:
    • Form No. 60 (as per Income Tax rules)
    • Any one of the following: Passport/ Driving Licence/ National Rural Employment Guarantee Act (NREGA) card/ Aadhar card along with consent letter.

In case the applicant does not have an updated address on the official documents, he would be required to submit the any one of the following documents as address proof:

    • Utility bill (post-paid mobile phone, gas, water bill or electricity bill).
    • Municipal tax receipt or property tax receipt.
    • Copy of family pension payment orders (PPOs) given by Public Sector or Government to retired employees.
    • Official letter issued by the Central or State government stating accommodation allotment.

Eligibility for Auxilo Education Loan:

Applicant criteria:

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

Co-borrower criteria:

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

Courses covered by Auxilo Education Loan:

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

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.

FAQs:

  1. What are the parameters considered by Auxilo to evaluate Education Loan?
  2. Auxilo considers 15+ parameters ranging from credit worthiness to course selected, to analyze the applicant’s strength.

  3. Are multi-city co-applicants accepted by Auxilo?
  4. Yes, Auxilo accepts multi-city co-applicants.

  5. Can I apply again at Auxilo if my application is rejected once?
  6. Yes, Auxilo accepts re-applications for education loans. However, it is mandatory to submit all the valid documents and complete all the paperwork.

  7. What is the tenure of education loan offered by Auxilo?
  8. Auxilo offers education loans up to a maximum of 10 years.

  9. Can I avail a loan from Auxilo without collateral?
  10. Auxilo has multiple unsecured Education loan options which can be availed based on the strength of the application. However, Auxilo offers attractive interest rates on secured Education loan options.

  11. What are the documents required to avail a loan from Auxilo?
  12. The following documents are required to avail a loan from Auxilo:

    • Address proof: Aadhar card, Electricity bill, etc
    • Identity proof: Passport, Voter ID, etc.
    • Academic proof: SSC, HSC, Graduation certificate, etc.
    • Income proof: Bank statements, pay-slips, etc.
    • Real estate or collateral papers (if applicable).
  13. When should I repay a loan at Auxilo?
  14. There are multiple loan repayment options provided by Auxilo. You can choose a plan according to your convenience. Generally, you can repay the principal amount once you start earning or post one year of course completion.

Education Loan Tools
Education Loans by Bank
Education Loans by City
Education Loan Articles

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.