Auxilo Education Loan for Abroad Studies 2024

Auxilo Education Loan 2024: Founded in 2017, Auxilo Finserve Pvt. Ltd. is a Non-Banking Financial Company (NBFC) that specializes in providing education loans. The company evaluates students using over 15 criteria and offers tailored loan solutions for studying in countries including the US, UK, Canada, Australia, France, Germany, New Zealand, and Ireland. Auxilo designs loan packages to meet individual needs and provides additional benefits such as pre-approved loans, flexible repayment plans, and door-to-door service.

Auxilo Education Loan

Features	Description
Loan Amount	Up to INR 65 Lakh
Interest Rate	11.25% – 14%
Processing Fees	0.5% – 1.5%
Processing Time	7 to 10 days
Margin Requirement	None
Moratorium Period	Duration of the course + 1 year
Repayment Period	Up to 15 years

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Eligibility Criteria for Auxilo Education Loan

1. Age Requirement: The applicant must be at least 18 years old at the time of application. The student should have secured admission to a recognized educational institution.
2. Academic Qualifications: To qualify for an education loan, the applicant must meet Auxilo’s minimum academic standards and maintain a strong academic record. Additionally, the student may need to provide test scores such as GRE, IELTS, or TOEFL. For studies in the US, GRE scores are particularly crucial for securing a loan.
3. Co-applicant Requirement: The borrower must have a co-applicant, which could be a parent, sibling, spouse, or a relative, who has a steady income and a good credit score.
4. Eligible Courses and Countries: The loan covers various undergraduate, postgraduate, diploma, certificate, and doctoral programs offered by universities or institutions in countries like the USA, UK, Canada, Australia, New Zealand, France, Germany, and Ireland.

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Auxilo Education Loan Interest Rate

Feature	GRE >= 310	GRE 300 – 309	GRE 285 – 299
Interest Rate	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 Income	INR 30,000	INR 35,000	INR 35,000
Installments During 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
Interest Rate	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 Income	INR 60,000	INR 30,000	INR 40,000	INR 40,000
Installments During Course	EMI	Simple interest	Simple interest	Simple interest
Processing Fee	1% – 1.5%	1%	1% – 2%	1% – 1.5%

Documents Required for Auxilo Education Loan

Auxilo provides a customized list of required documents, depending on the applicant’s profile, their co-applicant’s profile, and any collateral offered.

Applicant’s Documents

• Identity Proof: PAN card, Passport, Driver’s License, Voter ID, or any government-issued ID.
• Completed Education Loan Application Form.
• Address Proof: Recent utility bills (telephone, electricity, water), Aadhaar card, or passport.
• Passport copy.
• Academic Records: 10th and 12th standard mark sheets, Undergraduate semester-wise results.
• Entrance Exam Scores: GMAT, GRE, TOEFL, etc.
• Admission Proof: Admission letter (including conditional admission).
• Statement of Expenses.

Co-applicant’s Documents

• Identity Proof: PAN card, Passport, Driver’s License, Voter ID, or any government-issued ID.
• Address Proof: Recent utility bills, passport, driving license, Aadhaar card.
• 2 Passport-size Photographs.
• Bank Statements: Last 6 months of co-borrower/guarantor (in case of loan transfer).

Income Proof for Salaried Co-applicant

• Salary slips for the last 3 months.
• Form 16 for the last 2 years.
• Bank statement for the last 6 months (Salary Account).
• Statement of Assets & Liabilities of the co-applicant.

Income Proof for Self-employed Co-applicant

• Business address proof.
• Last 2 years’ IT Returns (if applicable).
• TDS certificate (Form 16A, if applicable).
• Professional qualification certificates (e.g., for CAs, doctors).
• Bank statement for the last 6 months.

This document list may vary depending on the applicant’s and co-applicant’s specific financial and academic details.

How to Apply for an Auxilo Education Loan

Applying for an Auxilo education loan is a straightforward process. Follow these steps to get started on funding your education abroad:

1. Check Eligibility
   Before applying, ensure that you meet Auxilo’s eligibility criteria, which include age requirements, academic qualifications, and securing admission to a recognized university. You may also need a co-applicant with a steady income and good credit history.
2. Gather Required Documents
   Prepare all the necessary documents, including your identity proof, academic records, entrance exam scores (such as GRE, TOEFL, or IELTS), proof of admission, and co-applicant’s income proof. Make sure you have all documents ready for submission to avoid any delays.
3. Fill Out the Application Form
   Visit the official Auxilo website or contact an Auxilo representative to access the education loan application form. Complete the form with accurate details, including your personal information, academic details, and loan requirements. Ensure that all fields are filled out correctly.
4. Submit the Application
   After completing the application form, submit it online or hand it over to an Auxilo representative. You may need to upload or provide hard copies of your documents along with the form.
5. Loan Processing
   Once submitted, Auxilo will process your application, which may take around 7-10 days. They will evaluate your eligibility and determine the loan amount, interest rate, and repayment terms based on your profile and requirements.
6. Approval and Disbursement
   If your loan application is approved, Auxilo will provide you with the loan agreement. After signing, the loan amount will be disbursed directly to the educational institution or to your bank account, as per the terms of the loan.

Auxilo Education Loan Application Form

The Auxilo education loan application form is the key document to start your loan process. You can fill out the form online through Auxilo’s official website or visit one of their branch offices. The form requires basic personal information, academic details, co-applicant information, and the loan amount you wish to borrow. Ensure that all the details are accurate and complete to avoid delays in the loan approval process.

How to Contact Auxilo

For any inquiries or assistance with your education loan application, Auxilo provides several ways to get in touch:

• Website: Visit Auxilo’s official website for more details and to apply online.
• Auxilo Contact Number: Reach out to 080 6823 3333 or via phone or email for any questions regarding loan application, processing, and terms.
• Branch Visit: Siddhsheksha Colosseum No 103, 1st floor, RV Road VV Puram, Basavanagudi, above HDFC Bank, Vishweshwarapura, Branch, Bengaluru, Karnataka 560004.
• Email: You can email Auxilo at customercare@auxilo.com for queries or additional information.
• Auxilo Customer Care: Contact Auxilo at [022 62463333] for direct assistance and to speak with a representative.

By following these simple steps and contacting Auxilo through their available channels, you can efficiently apply for an education loan and begin your journey towards studying abroad.