Best Way to Fund Foreign Studies
With Avanse Study Loans, the road to study abroad is smooth and easy. We have customized education loan products that are Pro-Student, Pro-Parent and Pro-Future!
With Avanse Study Loans, the road to study abroad is smooth and easy. We have customized education loan products that are Pro-Student, Pro-Parent and Pro-Future!
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<strong>Best</strong> <strong>Way</strong> <strong>to</strong> <strong>Fund</strong> <strong>Foreign</strong> <strong>Studies</strong><br />
Education is one of the important <strong>to</strong>ols for individual progress. It helps you compete well in the verticals<br />
of your choice so that you attain peak position and thereby live a successful life ahead. It plays a vital<br />
role in shaping the society <strong>to</strong> prosper socially and economically. Today, every parent aspire their son or<br />
daughter should pursue MBA, doc<strong>to</strong>rate, engineering or law from reputed university in India or abroad.<br />
Studying abroad is the latest craze amongst the students and every alternate student want <strong>to</strong> pursue<br />
higher studies in some or the other foreign university. But foreign studies are quite expensive. These<br />
studies could be as high as six times the cost in India. Therefore, good financial planning is essential <strong>to</strong><br />
ensure that adequate funds are at disposal when needed. Moreover, while applying for the student visa,<br />
you need <strong>to</strong> show proof of sufficient funds <strong>to</strong> cover at least the first year of education.<br />
Many students and parents have <strong>to</strong> sack their dreams and pursue alternate courses or choose different<br />
streams in life. Although there are options like scholarships for Indian students, traditional finances,<br />
property mortgages, or alternative subsidizations but these options have <strong>to</strong> be thought and worked<br />
upon beforehand, as it can be time consuming process. Secondly, these finances medium have<br />
extremely high rate of interest, limited time <strong>to</strong> repayment and no flexible options <strong>to</strong> makes repayments.<br />
The government & private sec<strong>to</strong>r firms understand your concern very well and has taken concrete steps<br />
for providing better education facilities <strong>to</strong> the youth of our nation. In order <strong>to</strong> make sure that no student<br />
is denied of pursuing higher education, they have come up with state-of-the-art facilities for overseas<br />
education loan scheme. So bank a suitable opportunity now and create own your world of successes by<br />
pursuing good and quality higher education abroad.<br />
While taking admission in foreign university students have <strong>to</strong> show sufficient proof of funds. Every<br />
student has its own set of problems such as getting a visa clearance, fund approvals, slow loan<br />
processing, incomplete finances etc. Some of the leading private finance firms have come up with<br />
unique and friendly solution for cus<strong>to</strong>mers such as Pre-Visa Disbursement Loan, Pre-Admission Loan,<br />
Certificate of Availability of <strong>Fund</strong>s, GRE score based loan, Bridge loan, fast track loan etc. which cater<br />
exclusively <strong>to</strong> students' particular requirements and set them free from any form of obstacle in their<br />
road for career development.
While government banks demand for margin money of around 15-20% of the loan amount <strong>to</strong> approve<br />
study loan overseas, some private finance firms give overseas education loan at no margin money costs.<br />
The interest rates offered are as low as 12.75% and the processing fee is mere 1-2% of the loan amount<br />
being calculated on a case-<strong>to</strong>-case basis. Overseas education loan can be offered on fixed and floating<br />
rate. Most nationalized banks offer variable rates while private and foreign banks charge fixed rates.<br />
They design study loans without setting any cap on finance and provide 100% coverage of education<br />
costs, making such young talents of India free from unnecessary burdens.<br />
Usually for loans up <strong>to</strong> Rs. 4 lakh, no collateral security is required. For Overseas Education Loan ranging<br />
from Rs. 4 lakh <strong>to</strong> Rs. 7.50 lakh, collateral in the form of a satisfac<strong>to</strong>ry third party guarantee is required.<br />
For loans above Rs. 7.50 lakhs, collateral in any of the form of Residential property<br />
(house/flat/apartment), Fixed Deposits, Life Insurance with surrender value equivalent <strong>to</strong> loan amount,<br />
Existing house mortgaged and Non-agricultural land can be considered.<br />
For repayment of your Abroad Overseas Education loan there are cus<strong>to</strong>mer friendly ways a relaxation<br />
period known as mora<strong>to</strong>rium period wherein you repay the loan six months after the completion of the<br />
course in case person gets job or one year after the completion in case student is trying <strong>to</strong> get job. The<br />
maximum time given for the repayment is 15 years counted from the date of the first disbursement.<br />
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