Overview of the Auxilo education loan

Features	Description
Loan amount	Up to INR 65 Lakh
Rate of interest	11.25 - 14%
Processing fees	0.5 - 1.5%
Processing time	7-10 days
Margin money	nil
Moratorium period	Course duration + 1-year
Repayment tenure	15 years

Eligibility criteria of Auxilo education loan

Age

The applicant must be at least 18 years of age or older at the time of application. The student should have secured admission to a recognized university.

Academic performance

To be eligible for an education loan, the applicant must meet Auxilo's minimum academic criteria and maintain a consistently good academic record. Additionally, the student may need to fulfill certain prerequisite tests such as GRE, IELTS, or TOEFL. It is important to note that, in the US, GRE scores are particularly important in obtaining an education loan.

Co-applicant

The borrower must need a co-applicant, who could be the applicant’s mother, father, sister, brother, spouse, paternal or maternal relative, or a legal guardian, with a regular source of income and good credit history.

Course and country of study

Under this scheme regular graduate degree/post-graduate degree/diploma/certificate/doctorate courses in any discipline offered by foreign Institutes/Universities in the USA, UK, Canada, Australia, New Zealand, France, Germany, Ireland will be covered under the scheme.

Auxilo education loan for US

Feature	GRE > = 310	GRE 300 = < 310	GRE 285 = < 299
Rate of interest	11.25 - 11.75%	11.75% - 12.5%	12.5 - 13%
Loan amount	Up to INR 65 Lakh	Up to INR 50 Lakh	Up to INR 40 Lakh
Co-applicant minimum income	INR 30 K	INR 35K	INR 35K
Monthly installments during the course	Partial simple interest	Partial simple interest	Simple interest
Processing fee	0.5 - 1%	0.7 - 1%	1%

Auxilo education loans for other countries

Feature	Australia / New Zealand	Canada	UK	Germany/ Ireland/France/ Italy
Rate of interest	12.5 - 14%	12 - 13%	12.5 - 13.5%	12.5 - 13.5%
Loan amount	INR 20 Lakh	INR 30 Lakh	INR 40 Lakh	INR 20 Lakh
Co-applicant minimum income	INR 60K	INR 30K	INR 40K	INR 40K
Monthly installments during the course	EMI	Simple interest	Simple interest	Simple interest
Processing fee	1 - 1.5%	1%	1 - 2%	1 - 1.5%

Documents required for education loan by Auxilo

Shikshavahini provides a customized documents list for Auxilo education loans, which depends on your profile, your co-applicant profile, and any property/asset, you may offer as collateral.

Applicants' documents

• Identity proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.

• Education loan application form.
• Address proof: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill/ driving license/ Aadhaar card.
• Passport.
• Past academic record. 10th standard mark sheet 12th standard mark sheet Undergraduate result (semester-wise)
• 10th standard mark sheet
• 12th standard mark sheet
• Undergraduate result (semester-wise)
• Entrance exam results (e.g. GMAT, GRE, TOEFL, etc.)
• Proof of admission: admission letter (A conditional admission letter is also applicable).
• Statement of expenses.

Co-applicant’s documents

• Identity proof: PAN/ Passport/ Driver’s license/ Voter ID card or government-issued identification document.
• Address: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill or copy of passport/ driving license/ Aadhaar card.
• 2 passport-size photographs.
• Bank account statement of the co-borrower/guarantor, for the last 6 months (in case of takeover of education loan).

Income proof for salaried co-applicant/guarantor

• Salary slips for the last 3 months

• Copy of Form 16 of the last 2 years or copy
• Bank account statement for the last 6 months (Salary account)
• Brief statement of assets & liabilities of parent/ guardian/ other co-borrower

Income proof for self-employed co-applicant/ guarantor

• Business address proof

• Last 2 years IT returns (If IT Payee)
• TDS certificate (Form 16A, if applicable)
• Certificate of qualification (for C.A./ doctor and other professionals)
• Brief statement of assets & liabilities of parent/ guardian/ other co-borrower
• Bank account statement for the last 6 months

How to contact Auxilo for an education loan

To get in touch with Auxilo's customer support team, you have several options:

Email

Send a detailed email tocustomercare@auxilo.com with information about your profile. Their team will review your email and respond accordingly.

Online application form

Go to the Auxilo website (https://www.auxilo.com/) and go to the "Contact Us" section. Fill out the online application form with your details, and Auxilo will assess your profile and take the process further.

Branch visits

Visit the nearest Auxilo branch in your city or locality. The staff at the branch will provide assistance regarding education loans, the application process, required documents, and other relevant information. Auxilo has its head office in Mumbai and other offices across various cities in India, including Chennai, Delhi, Bengaluru, Hyderabad, Ahmedabad, and Pune.

If you're seeking an education loan for studying abroad through Auxilo but want to avoid the hassle of visiting physical branches and dealing with complicated application forms, you have the option to apply for an education loan through Shikshavahini, an education financing platform that specializes in helping students secure funding for their higher education abroad. By applying via Shikshavahini, you'll benefit from a convenient solution. Once you meet the eligibility criteria, our dedicated counselors will thoroughly assess your profile and recommend the most suitable lenders to meet your specific loan requirements. Throughout the loan process, our counselors will provide guidance and support, being readily available to address any concerns or challenges you may encounter. To check your eligibility here.

Benefits of getting your Auxilo education loan through Shikshavahini

 

Guaranteed best loan

Shikshavahini aims to provide you with the most competitive education loan in the market. We strive to bring you the best deal available. If you come across a better offer, we will cover the difference in interest rates for the entire duration of your education loan.

Low turnaround time

At Shikshavahini, we work closely within multiple departments at Auxilo to ensure that our student loan applicants receive loan approval in a speedy manner - typically within just 5-7 days. This prompt service is one of the reasons why students choose to entrust their loan requests with us year after year. On the other hand, if a student chooses to apply for a loan directly through the NBFC, the standard processing time is usually around 10-12 days.

100% Free of cost services

Shikshavahini's services for applicants are absolutely free. We do not charge a single penny from applicants.

Higher chances of approval

In case of any hurdles regarding documentation or application, Shikshavahini intervenes and resolves the problem by coordinating with the officials at Auxilo.

Online document submission

With Shikshavahini's online document upload feature, you can easily submit the necessary documents required for your loan application from the convenience of your own home, eliminating the need to physically visit the NBFC for document submission. In addition, we will keep you informed of each step of the loan approval process by sending you timely notifications.

The Shikshavahini effect on Auxilo

Feature	With Shikshavahini	Without Shikshavahini
Personalized document checklist according to profile & area	Yes	No
Branch visits	0	3-4
Pre-visa disbursements	Easy	Difficult