Auxilo Education Loan 2024: Interest Rates and How to Apply.

Auxilo Finserve Pvt. Ltd. is an NBFC founded in 2017. Using more than 15 criteria, Auxilo evaluates students and provides tailored education loan choices for the US, UK, Canada, Australia, Germany, France, New Zealand, and Ireland, among other nations. Auxilo provides personalised loan choices according to specifications. In addition, they offer several advantages, like doorstep service, flexible payback plans, and pre-approved loans.

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Auxilo Education Loan Overview  

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Eligibility Criteria for Auxilo Education Loan

This section talks about the eligibility criteria required to get an Auxilo Education loan without collateral:

1. Age

At the time of application, the applicant must be at least eighteen. The pupil ought to have been accepted into a reputable university.

2. Academic Achievement

To be eligible for an education loan, the applicant must regularly maintain an excellent academic standing and meet Auxilo's basic educational requirements. The student might also need to pass preparatory exams like the GRE, TOEFL, or IELTS. It's crucial to remember that, in the US, getting an education loan mainly depends on your GRE results.

3. Additional Applicant

The borrower is required to have a co-applicant with a consistent source of income and a clean credit history. This applicant may be the borrower's mother, father,brother, sister, spouse, paternal or maternal relative, or legal guardian.

4. Study Program and Nation of Study

This programme will cover standard graduate, postgraduate, diploma, certificate, and PhD courses in any discipline provided by foreign institutes and universities in the United States, the United Kingdom, New Zealand, Canada, Australia,  France, Germany, and Ireland.

Suggested read: NBFC Education Loan- Top Best Loans in India (2024)

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Auxilo Education Loan Interest Rate for US

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Auxilo Education Loan Interest Rate for Other Nations 

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Suggested read: Education Loan for Abroad Studies in 2024: A Comprehensive Guide

‍Minimal Documentation. Higher Chances of Approval. Easy Online Processes. Check Your Eligibility. 

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Documents Required to Apply for Auxilo Education Loan 

The following documents should be submitted as scanned copies when applying for an Auxilo education loan:

Applicant’s Documents

1. Know Your Customer (KYC)
2. Aadhar card
3. Permanent Account Number (PAN) card
4. SSC, HSC, graduation certificate and marksheets
5. Passport
6. Bank Statements

Co-Applicant’s Documents

1. Income Tax Returns (ITR)
2. Consent of co-applicant
3. Pay slips
4. Proof of relationship
5. Aadhar card
6. PAN card 
7. Bank statements for past eight months 
8. Proof of residence

Suggested read: Education Loan at Zero Interest Rate- Is it Possible?

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How to Contact Auxilo Finserv For an Education Loan 

Contact Auxilo Finserv's customer support through:

Send an Email

Please send a thorough email to customercare@auxilo.com with details about your profile. After reviewing your email, their staff will reply appropriately.

Online Application Form

Visit the "Contact Us" section of the Auxilo website (https://www.auxilo.com/). Once you submit your information using the online application form, Auxilo will review your profile and move the process along.

Branch Visits

Go to the Auxilo branch closest to you in your town or city. Branch personnel can assist you with school loans, the application procedure, necessary paperwork, and other pertinent information. Auxilo's headquarters are located in Mumbai, and the company also has offices in Chennai, Delhi, Bengaluru, Hyderabad, Ahmedabad, Pune, and other Indian cities. 

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How to Apply for an Auxilio Education Loan? 

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You can get the Auxilo Education loan without collateral in just a few easy steps. 

Follow the below mentioned steps to get an Auxilo education loan sanction letter:

Step 1: Speak with Auxilo to begin the application process and learn about the different loan approval requirements.

‍Step 2: Send in your loan application along with the required documentation.

Step 3: Once Auxilo personnel have verified your application and any accompanying documentation, your loan can be tailored to your requirements.

Step 4: Finish any unfinished work, such as sending in necessary postdated checks.

You will get your Auxilo Education Loan Sanction Letter by following these steps. 

Suggested read: How to get an education Loan for Abroad Studies in 2024

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Benefits of Getting a Loan from Auxilo Finserv

Getting an Auxillo Education loan without collateral or with collateral has been helpful for many students. Here are some key points we have heard as Auxilo Education loan review: 

1. Total Support for Finances

Not in the Bank monetary Companies such as Auxilo offer comprehensive financial support for international education. The main financial offering of Auxilo is the education loan, which the organization is dedicated to providing to deserving students.

2. Appealing Interest Rates

Auxilo offers student loan interest rates that are rather appealing. Education loans have interest rates ranging from 12% to 16%. Borrowers must be aware that interest rates might change based on several factors, including past credit history, chosen university or college, and study program.

3. Great Customer Experience 

Every pupil has unique requirements. As a result, Auxilo offers perfect school loan plans that fulfil every prerequisite. By personalising loan options, students can obtain loans without meeting any requirements.

4. Quickest Loan Approval

Admission to international colleges is contingent upon a student's "proof of funds." Students must first provide loan sanction paperwork for their visas to be issued in nations like Canada and New Zealand. Auxilo recognises this and assists with living expenses and early loan disbursement. Additionally, it increases students' chances of swiftly being accepted into their top university. 

5. Customised Alternatives for Repayment

Auxilo is aware that every student has different education needs. As a result, Auxilo offers perfect education loan plans that fulfil all criteria. By Auxilo policy, the borrowers may submit repayment term options using this repayment method.
Auxilo Education Loans offer a compelling solution for students pursuing higher education, with competitive interest rates and flexible options. Their personalised approach and quick approval process make them a strong contender in the education financing market. However, it's crucial to explore all available options to find the best fit for your unique educational and financial needs.

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Looking for more options? Propelld offers education loans up to 50 Lakhs without collateral, with faster processing and higher approval rates. We consider your academic performance, not just credit scores. Explore Propelld's student-friendly loans today and take the first step towards your dream education. 

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Why Propelld?

Here are some of the many advantages that we offer.

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FAQ About Auxilo Education Loan 

What is an Auxilo Education Loan?

Auxilo Education Loan is a financial service provided by Auxilo Finserve that offers loans to students for higher education in India and abroad. The loans cover tuition fees, accommodation, books, and other related expenses.

Who is eligible for an Auxilo Education Loan?

Indian citizens aged 18 to 35 who have secured admission to recognised institutions in India or abroad are eligible. The co-applicant (parent/guardian) should also meet specific income criteria.

What courses are covered under the Auxilo Education Loan?

Auxilo Education Loan covers various undergraduate, postgraduate, professional, and vocational courses in recognised institutions in India and abroad.

What is the interest rate on Auxilo Education Loan?

The interest rate on Auxilo Education Loan varies depending on the repayment tenure, loan amount, and applicant profile. Typically, it ranges from 11% to 14%.

How can I apply for an Auxilo Education Loan?

You can apply for an Auxilo Education Loan online through their website by filling out the application form, uploading the necessary documents, and waiting for approval. You can also visit their branches for assistance.

What documents are required for Auxilo Education Loan?

Documents required include the admission letter, mark sheets, proof of income for the co-applicant, identity and address proof, and details of the course fees.

What is the loan repayment process for Auxilo Education Loan?

 Repayment starts after a moratorium period, which includes the course duration plus an additional grace period. It can be made in EMIs over a flexible tenure.

Does Auxilo offer a moratorium period on loan repayment?

Auxilo offers a moratorium period during which the borrower is not required to make any principal repayments. This period typically includes the course duration plus 6 to 12 months.

Can I get an Auxilo Education Loan without collateral?

Auxilo provides secured (with collateral) and unsecured (without collateral) education loans. However, the availability of unsecured loans depends on the applicant's profile and the course/institution.

What are the processing fees for Auxilo Education Loan?

The processing fee for Auxilo Education Loan typically ranges between 1% and 2% of the loan amount, depending on the loan type and amount.

How long does it take to process an Auxilo Education Loan?

It it usually takes seven to ten business days after the necessary paperwork is submitted. 

Can I prepay my Auxilo Education Loan?

Yes, Auxilo allows for education loan prepayment without any prepayment penalties, which can help reduce the overall interest burden.

What happens if I miss an EMI payment on my Auxilo Education Loan?

Missing an EMI payment can lead to penalties and may affect your credit score. Auxilo offers grace periods and restructuring options in case of genuine financial difficulties.

Are there any tax benefits associated with the Auxilo Education Loan?

You can claim a deduction on the interest  of an education loan for up to 8 years under Section 80E of the Income Tax Act. 

Does Auxilo provide any special schemes or discounts for education loans?

Auxilo occasionally offers special schemes with reduced interest rates or processing fees for specific courses or institutions. You can get to know about offers provided by Auxilo by getting in touch with their customer support. 

How can I contact Auxilo for more information or support?

You can contact Auxilo through their customer service helpline, email support, or by visiting one of their branches. Details are available on the Auxilo website.