Education Loan for Abroad Studies – Avanse Finance
Sharing information regarding collateral-free / unsecured loan. If looking for a secured loan from Avanse then look at the end of the post.
I faced difficulty in gathering data during my research and it took time to understand which is the best bank to get the loan from, so sharing this bit so that it becomes easier for people who are about to apply for a loan. I hope it helps.
Rate of interest – 12.5% to 15%
Processing Fee – 1%
1. Interest period starts post 2Y +12m.
2. Amount is calculated based on profile and admit. simple or partial simple interest needs to be paid during the education too.
3. Section 80E, ITR benefit eligible
4. No pre payment penalty. Interest on the amount used and not on sanctioned amount.