Avanse Education Loans, a education finance company promoted by DHFL, today forayed into Delhi market offering loans that will cover full education cost at a special interest rate of 12.25 per cent.
“Avanse will sanction education loans in a maximum of 4 days and will cover 100 per cent cost of education including living, travelling and other expenses. The scheme is also accompanied with a special interest rate that starts from 12.25 per cent,” the company said in a statement.
Students can avail loans as high as Rs 1 crore or up to the maximum value required for the course, it said.
The students can repay the loan through Avanse’s flexible repayment plans with repayment tenure up to 10 years (120 months), it added further.
“Avanse aims at providing fast and complete financial assistance to deserving students of our country for pursuing higher education in India and overseas,” Neeraj Saxena, Business Head said in the statement.
The education loan scheme will also provide students free international student identity card that will entitle them to various discounts and benefits in 106 countries worldwide.
Avanse is a Non-banking Finance Company (NBFC) regulated by the Reserve Bank of India (RBI).
The company was launched in February this year with a view to fulfil the gnawing need for education finance at reasonable terms, a company spokesperson said.