Education abroad or even in top Indian universities demands more than just academic readiness, it requires smart financial planning. Among the many lenders available, Propelld and Auxilo Finserve stand out for their student-friendly approach and tech-driven loan process. Both are RBI-registered NBFCs known for simplifying education financing, yet they cater to slightly different borrower needs.
This Propelld vs Auxilo Finserve Education Loan Comparison outlines key differences in eligibility, loan process, collateral terms, and repayment flexibility to help students make the right decision for 2025. Looking for quick approval and 100% financing? Apply with Propelld now!
Propelld vs Auxilo Education Loan Comparison
Here is a side-by-side comparison of the core features of an education loan from Propelld and Auxilo Finserve:
Don’t forget to check the co-applicant criteria. Our guide on Who Can Be a Co-Applicant for an Education Loan breaks down the eligibility and documents you’ll need.
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Propelld vs Auxilo Finserve education loan comparison
When scrutinising a financial product like an education loan, a deeper look at the core components is essential. Here is the detailed breakdown, covering all the key secondary keywords like Propelld vs Auxilo interest rate comparison and Propelld vs Auxilo no collateral loan policies.
Loan Amount & Coverage
Both Propelld and Auxilo Finserve provide extensive funding for education in India and overseas.
1. Propelld's Coverage: Propelld shines with its diverse product range, offering loans not just for traditional UG/PG courses abroad (up to ₹1 Cr) but also for domestic higher education (up to ₹40 Lakhs), coaching, and upskilling programs.
The loan coverage is comprehensive, extending to tuition, living expenses, travel, insurance, and exam/visa fees for abroad studies.
2. Auxilo's Coverage: Auxilo Finserve also offers comprehensive coverage, with unsecured loans going up to ₹1 Cr for top international Master's/PG programs. They are particularly known for accommodating high-value loans, offering up to ₹2 Cr with collateral, catering to those who need maximum funding for high-cost courses.
How much education loan can I get for MBBS/Abroad with Propelld vs Auxilo?
If you're looking for a collateral-free loan up to ₹1 Cr for an MBA or a Master's degree abroad, both are excellent. For high-value secured loans above ₹1 Cr, Auxilo may have a marginal edge on the maximum amount. For domestic UG/PG and specialised coaching/upskilling, Propelld is often the better fit due to its broader product range.
Interest Rates & Transparency
The interest rate is the most critical factor, as it determines your total cost of borrowing. A key secondary keyword comparison is Propelld vs Auxilo interest rate comparison.
1. Propelld's Rates: Propelld offers profile-based interest rates starting from 12% p.a. The rate is determined by the course, country, and applicant/co-applicant's profile, rewarding good academics. Propelld is known for its open APR (Annual Percentage Rate) disclosure, which includes all costs, ensuring full transparency with no hidden charges.
2. Auxilo's Rates: Auxilo Finserve's interest rates start from 11.00% p.a. onwards. Like Propelld, the final rate is determined by a profile-based assessment, which includes the university's rank, the course, and the co-applicant's financial stability. Auxilo's interest rates can be highly competitive for applicants with a strong profile (e.g., high GRE score, top university admission).
Both NBFCs use a reducing balance method, but the comparison hinges on transparency and eligibility for the lowest slab. Propelld's clear APR policy offers full clarity upfront.
Collateral & Margin Money Rules
Collateral is often the biggest hurdle for students. The secondary keyword Propelld vs Auxilo no collateral loan policies is essential here.
1. Propelld's Policy: Propelld is a leader in collateral-free education loans, offering financing up to ₹1 Cr for abroad studies without needing to pledge property or assets. They also maintain a 0% margin money rule, meaning they finance 100% of the education cost upfront.
2. Auxilo's Policy: Auxilo also offers substantial collateral-free loans, typically up to ₹1 Cr for a strong profile, which is in direct competition with Propelld. They also offer a Nil margin money policy. Where Auxilo differs is its secured offering, allowing high-value loans (up to ₹2 Cr) by accepting collateral, including immovable property, Fixed Deposits (FDs), or insurance policies.
For students seeking financial support without pledging assets, you can explore options to get an education loan without collateral and secure funds quickly.
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Approval Process & Timelines
Speed and efficiency in the loan process, captured by the secondary keyword Propelld vs Auxilo loan approval time, are critical, especially with tight visa and admission deadlines.
1. Propelld's Timeline: Propelld follows a 100% digital, paperless process. This results in a rapid sanction time: 48–72 hours for domestic loans and typically 7 working days for abroad loans.
Propelld is known for its flexible underwriting and proactive communication, informing a customer of any rejection or gap in the application within 24 hours. They boast of approving 9/10 applications.
2. Auxilo's Timeline: Auxilo Finserve is also known for its quick processing, often achieving sanction in 3-7 working days. They emphasise their customised loan plans, which sometimes means a slightly longer, but more tailored, assessment for exceptional profiles.
Repayment Flexibility & EMI Options
Repayment should be structured around your post-study income potential. The flexibility, covered by the secondary keyword Propelld vs Auxilo EMI flexibility, is vital.
Propelld's Flexibility: Propelld offers a student-centric moratorium (loan-free period) that covers the study period plus a grace period (especially for longer courses like MBBS). Repayment options include:
1. Full moratorium (no payments).
2. Simple Interest payment during the moratorium.
3. Partial Interest payment (popular for abroad loans).
4. Foreclosure charges are generally 2%-4% but are often waived off in special cases (like medical emergency, financial issues), as clearly mentioned in the loan agreement.
5. Auxilo's Flexibility: Auxilo Finserve also offers a moratorium of course duration plus 12 months. Repayment options often include paying Partial Simple Interest (PSI) or Simple Interest (SI) during the moratorium. Crucially, Auxilo generally boasts Zero prepayment charges, giving borrowers maximum flexibility to repay the principal early without penalty.
Documentation and Service
A hassle-free experience is dependent on the Propelld vs Auxilo documentation process.
1. Propelld's Experience: Propelld operates on a digital-first, paperless model, requiring minimal documentation (typically just ID/Address proof) and simplifying the entire process. They offer a dedicated SPOC (Single Point of Contact) and a digital dashboard for tracking the application, ensuring complete visibility and support.
2. Auxilo's Experience: Auxilo also aims for a digital and fast process, offering dedicated relationship managers. While their process is generally smooth, certain high-value or secured loan applications might require more comprehensive income and property documentation.
Who Should Choose Propelld vs Auxilo Finserve?
Both NBFCs offer compelling products, but their strengths lie in serving different student needs:
Both Propelld and Auxilo Finserve are excellent choices that have disrupted the education finance market with their student-first approach. They both offer 100% financing and large collateral-free loans, which is a massive step up from most banks.
However, for the average student looking for a transparent, fast, and flexible borrowing experience, Propelld offers a slightly better package due to:
1. Breadth of Coverage: Financing for domestic UG/PG, Coaching, and Upskilling, in addition to abroad studies.
2. Approval Rate: Higher approval rate and prompt 24-hour communication in case of application gaps or rejection.
3. Transparency: Clear and open APR disclosure.
While Auxilo Finserve is an outstanding choice for those with a strong profile seeking to leverage collateral for a maximum loan amount or who prioritise guaranteed zero prepayment charges, Propelld’s all-around flexibility and focus on a smooth, digital experience make it the leading choice for a wider range of education financing needs.
Ready to start your education journey? Apply with Propelld today and get a loan sanction in less than 72 hours!
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