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✓ Up to 60 lacs of Education Loan
✓ With Pre-Visa Loan disbursement
Auxilo finserve private limited do not cap education loan limits to a certain amount and finance up to 100% of the loan amount. They offer customized education loans depending on the applicant’s profile. The Auxilo education loan rate of interest starts at 11.5%. Keep reading further to know more about the Auxilo Education Loan process.
Overview of Auxilo Student Loans
This video has everything you need to know about the Auxilo Loan for studying abroad, including schemes, loan amounts, interest rates, and processing fees. It also provides exclusive information from their circulars that you won't find online.
| Loan Parameter | Details |
| Loan Limit | Upto 60 lacs A higher amount can also be offered is the applicants loan profile is strong |
| Expenses covered | - College/ hostel fee - Library, Laboratory and Examination fees - Charges for books, equipment, uniforms, instruments - Caution deposit - Cost of Computer/ Laptop - Insurance premium for the applicant - other miscellaneous charges |
| Accepted co-applicant | parents/parents-in-law, siblings, spouse, brother-in-law, parent's siblings, first cousins |
| Auxilo Education loan interest rate/rate of interest | Starts from 11.5% |
| Moratorium Period | Course duration plus 1-year |
| Repayment Duration | Upto 10 years |
| Repayment policies | Partial interest payment during the moratorium period |
| Auxilo Education Loan Eligibility Criteria |
Student must: Co-applicant Eligibility |
| Accepted collateral |
Real estate properties, Life insurance policies, Fixed deposits, NSC, KVP, NSS |
*on going through with WeMakeScholars
| Loan Parameter | Details |
| Loan Limit | Upto 60 lacs If the students loan profile is strong, a higher loan amount can also be offered |
| Expenses covered | - Fee for the college tuition - Hostel charges - Costs for textbooks, Stationery, instruments, and uniforms. - Caution deposit as asked by the college - Cost of computer or Laptop - The applicant's insurance premium - Costs of miscellaneous expenses |
| Accepted co-applicant | Parents, spouse, siblings, parents-in-law, brother-in-law, first cousin |
| Auxilo Education loan interest rate/rate of interest | Starts from 11.5% |
| Moratorium Period | Duration of the course 1-year |
| Repayment Duration | Upto 10 years |
| Repayment policies | Partial interest payment during the moratorium period |
| Eligibility Criteria |
Eligibility for the students Eligibility for the co-applicants |
| Accepted collateral |
KVP, Real estate properties, NSS, Fixed deposits, NSC, life insurance policies |
Pro tip: If a student has already paid the university fee, they can ask their financial officer to talk to the bank's staff about getting the amount reimbursed (if you paid the fee within 6 months).
| Loan Parameter | Details |
| Loan Limit | 100% loan coverage is offered |
| Expenses covered | - College or hostel expenses - Fees for textbooks, supplies, uniforms, and instruments - Caution deposit - Computer/laptop cost - The applicant's insurance fee - Other miscellaneous expenses |
| Accepted co-applicant | Parents, spouse, siblings, parents-in-law, brother-in-law, first cousin |
| Auxilo Education loan interest rate/rate of interest | Starts from 11.5% |
| Moratorium Period | Duration of the course 1-year |
| Repayment Duration | Upto 10 years |
| Repayment policies | Partial interest payment during the moratorium period |
| Eligibility Criteria |
Eligibility for the students: - The co-applicant must work in India to qualify. Eligibility for the co-applicants: |
| Accepted collateral | Property- real estate, FDs, Life insurance policies, KVP, NSC, NSS |
To be considered for an Auxilo Education Loan,
The Applicant:
The Co-Applicant:
Auxilo finserve private limited generally charges 1% of the total loan amount sanctioned as processing fees. but it can go as low as 0.5% on going through with WeMakeScholars depending on your case.
Our services are provided to you without any cost at WeMakeScholars. We don't charge any processing fees for our services, and this is made possible by the fact that our organization is supported by the Ministry of IT, Government of India as part of the Digital India campaign, which allows us to offer our services for free to students seeking scholarships and other forms of financial aid.
| Parameter | Details |
| Basic documents for Applicant (student), co-applicant, and Guarantor |
|
| Applicant’s academic documents | 1. Mark sheets of 10th, 12th, and undergraduate/ degree. 2. Evidence of enrollment into the course. 3. The fee system of the program or course (i20 for the USA if available) 4. Scorecard of GRE, IELTS, or GMAT 5. University Ranking print-out form |
|
Income documents of the co-borrower |
If the co-borrower is Salaried: 1 latest salary slips for the last 3 months. 2. Form 16 of the last 2 yrs. 3. Identity proof/ ID card of the Employer 4. ITR filed for the last two years If the co-borrower is Self-employed: 1. Income tax return of last three years 2. Balance sheet and Profit & Loss account for the last 3 years (Only in case the co-applicant is self-employed) 3. Business address proof |
|
Other Documents |
1. A letter evidencing that the extra expenses/leftover expenses will be borne by the co-applicant. 2. A check for the processing fee of Rs. 11,800/- Optional documents (only for collateral loans)
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1. An invoice for travel reimbursement or devices such as a laptop if a loan is being asked for it. 2. If any advance payments were made their receipts would be required. 3. All statements from pending loans if any (for 1 year) 4. A Letter explaining gaps if any on Rs.100 stamp paper. 5. A letter explaining the lack of ITRs of the co-applicant if not filed properly. |
By creating a personalized document list that considers your individual profile and needs we can assist you in saving time and avoiding enrollment issues or delays.
Auxilo mandates taking loan insurance and offers loan insurance which amounts to up to 1-2% of the sanctioned loan amount. When faced with an unprecedented situation the burden of paying the loan doesn't fall on the parents or the co-applicant by taking loan insurance.
Under these interest subsidy schemes, the interest rate accumulated during the moratorium period is paid by the government of India. The moratorium period in Auxilo lasts for one year after the duration of the course.
To be eligible for the interest subsidy scheme the student must:
Note: From April 1, 2022, the Padho Pardesh scheme has been discontinued and will no longer be applicable. But, the preexisting beneficiaries as of March 31, 2022, will keep receiving the interest subsidy during the loan's term and moratorium period.
To be eligible for this interest subsidy scheme the student must:
To be eligible for this scheme the student must:
Step 1: Make a request for a call back from our team
Step 2: A financial officer from our team here at WemakeScholars will reach out to check your eligibility. Provide them with the required information.
Step 3: After an analysis of your profile, your financial officer will provide you with a list of lenders you are eligible to get a loan. Make a choice from the provided lenders
Step 4: After which you’ll be provided with a link to WeMakeScholars secure document portal.
Step 5: You will be logged in as soon as you are done submitting your documents to the portal. You will find out the result of your application submission within 2-6 days if it’s a private bank and 15-20 days if it’s a public bank.
Step 6: You will be asked to sign the loan agreement and be provided with your auxilo education loan sanction letter.
Step 1: Click on the request a callback button to talk to one of our financial officers
Step 2: Meanwhile, collect the details of the loan you want to get transferred.
Step 3: Discuss the details of the loan and that you want to get it transferred to Auxilo
Step 4: You will be given a list of documents to be submitted. Submit them to auxilo.
Step 5: Your loan will be transferred to Auxilo
If you need help transferring your loan, our financial officers are available to provide guidance and answer any questions.
Given below are the four parameters needed to calculate EMI as per auxilo’s rate of interest.
Head on to the WeMakeScholars education loan EMI calculator for the most accurate prediction of your payment schedule. At WeMakeScholars, we understand that managing finances can be overwhelming, which is why we strive to provide our users with helpful tools and resources like the Education Loan EMI Calculator to simplify the process.
The moratorium period provided in Auxilo is one year after the duration of the course. i.e., duration of the Course + 1 year
If you apply for a loan of 26.5 Lakhs at an interest rate of 8.5% p.a., with a loan repayment of 12 years, your schedule of repayment might look something like this
| Repayment cycle | EMI | Interest portion | Principal portion | Loan Outstanding |
| End of 1st year | 35308 | 21499 | 13809 | 3021295 |
| End of 2nd year | 35308 | 20278 | 15030 | 2847751 |
| End of 3rd year | 35308 | 18950 | 16359 | 2658868 |
| End of 4th year | 35308 | 17504 | 17804 | 2453288 |
| End of 5th year | 35308 | 15930 | 19378 | 2229538 |
| End of 6th year | 35308 | 14217 | 21091 | 1986009 |
| End of 7th year | 35308 | 12353 | 22955 | 1720956 |
| End of 8th year | 35308 | 10324 | 24984 | 1432473 |
| End of 9th year | 35308 | 8115 | 27193 | 1118492 |
| End of 10th year | 35308 | 5712 | 29596 | 776758 |
| End of 11th year | 35308 | 3096 | 32212 | 404817 |
| End of 12th year | 35308 | 248 | 35060 | 0 |
Our team is here to provide you with guidance and support every step of the way, from ensuring that all the necessary paperwork is completed accurately and on time, to helping you coordinate with the bank or financial institution to ensure timely disbursal of the loan amount.
Education Loan FAQsDoes Auxilo provide a pre-admission loan?
Yes, Auxilo does provide pre-admission education loans on the basis of the applicant’s profile. This is very helpful as it acts as proof of funds which are required for the processing of student visa
Is Auxilo an NBFC?
Yes, Auxilo finserve pvt. ltd is a Non-Banking Financial Company(NBFC), registered with the Reserve Bank of India (RBI).
Does Auxilo offer education loans without a loan margin?
Yes, Auxilo finserve pvt. ltd finances up to 100% of the loan amount required by the student and does not require a loan margin.
Can my legal guardian be my co-applicant?
Yes, your legal guardian can act as a co-applicant or co-signer required for your education loan.
Can I get an Auxilo education loan without collateral?
Auxilo offers both secured and unsecured education loans for students wanting to pursue higher education overseas.
NEWSLeading Non-Banking Finance Corporations (NBFC) Auxilo Finserve Private Limited has successfully raised ₹470 crores in primary equity capital funding. The investment was led by Tata Capital Growth Fund II, Trifecta Leaders Fund - I, and Xponentia Opportunities Fund - II, along with existing shareholder ICICI Bank Limited. The completion of the transaction is subject to regulatory approvals.
Established in 2017, Auxilo Finserve specializes in education finance, providing loans for students in India and overseas, as well as financing for educational institutions. The company has supported over 7,500 students across 900+ universities in 25 countries and financed more than 150 educational institutes.
Neeraj Saxena, MD & CEO of Auxilo Finserve, expressed excitement about the funding, which will fuel growth by expanding the loan base and offering innovative financial solutions. The company aims to enhance product offerings and technological capabilities to meet customer needs.
The funds will strengthen Auxilo's position in the NBFC sector and create sustainable value. The company operates in seven key Indian cities with over 250 employees.
Auxilo's mission is to support Indian students in pursuing quality education globally. Recently, the company partnered with the National Skill Development Corporation (NSDC) for a new offering on skill development courses.
Last Updated - 26/07/2023