Auxilo Education Loan

Eligible Courses to Study in India

• Undergraduate degrees, Postgraduate degrees, and Postgraduate diplomas offered by colleges and universities approved by UGC/AICTE/IMC etc.
• Degree and Diplomas by independent institutions in India like IIM, IIT, etc. that have been approved by Auxilo.
• Technical or professional degrees like MBA, Medicine, Engineering, Aviation, etc.
• Vocational courses approved by Auxilo.

PROTIP:  Are you a working professional and would like to add value to your resume by pursuing an MBA? Auxilo has an attractive loan offer for you, An Executive MBA loan.

Specially made MBA loans for working professionals to study at prestigious institutes like IIM Allahabad, INSEAD, XLRI, and IIFT. It is also 100% funded.

Eligible courses to Study Abroad

• STEM Courses: Sciences, Technology, Engineering, Mathematics.
• Management courses such as MBA and the like.
• Postgraduate courses and Postgraduate diploma.
• Law, Public Policy, and Humanities streams.
• Vocational or passion courses like Art, Cooking, Fashion designing, etc. approved by Auxilo.
• UG, UG Diploma and Certificate courses are a little difficult to fund but can be possible if the financial co-applicant is making more than 12 lakhs per annum and EMI is being paid during the moratorium period.

Generally, loans for UG and UG diplomas are not given by Auxilo. However, if you choose WeMakeScholars, we can try taking a deviation only if you meet the financial requirements.

INSIDER TIP:  Auxilo loves to fund STEM courses. They offer higher loan amounts for those courses. 

Read more about the top courses to study abroad here.

Now we know the types of loans and courses that Auxilo finances, let’s look into the eligibility criteria.

There are certain criteria which should be met by the applicant as well as co-applicant before going for an education loan. The student must satisfy certain conditions as per the citizenship, age, and admission status and the co-signer should be a relative with certain citizenship, should be related to the student, should have adequate income, and should have the ability to bank. Also, some factors can increase the odds of approval and the sanctioned amount as follows: 

DID YOU KNOW YOU CAN INCREASE YOUR CHANCES OF ELIGIBILITY?  When it comes to education loans, having extra achievements on your profile will increase the chance of being eligible and getting a higher sanction amount. We’ve got some necessary tips for you to enhance your chances of eligibility, in addition to the points mentioned above.

• Achieving high scores in entrance examinations.
• Getting accepted into a prestigious or top-ranking educational institution.
• Demonstrating excellent academic performance.
• Displaying promising potential for future employment or income.
• Having a solid financial foundation from parents, guardians, or co-applicants.

We think you’ve understood the eligibility criteria for the Auxilo education loan and checked if you are meeting their requirements. We will now take a look at some aspects of the loan and see if you want to choose Auxilo for financing your studies.

Auxilo has a unique loan product that does not depend on what country you are going to. Instead, it takes into consideration the rank of the university. Auxilo categorizes universities into the following ways mentioned below:

• Top universities: Auxilo gives up to 60 to 65 lakhs collateral-free loans to top universities. In case the student's academic and financial profile is good, then the unsecured loan amount can go up to 80 to 90 lakhs.
• Mediocre universities:  35 to 40 lakhs by Auxilo unsecured education loan.
• Low-rank universities: Collateral-free loans for low-rank universities might be considered by Auxilo only if the profile of the financial co-applicant is exceptional. However, EMI will be asked to be paid from the day your loan is disbursed even during the moratorium period.

Watch this video to learn everything about the Auxilo Education Loan for Abroad studies. Know about all the Loan Schemes, Maximum Loan Amount, Rate of Interest, Processing Fee and the  Eligible courses & countries by watching this video by our co-founder Damini Mahajan.

Details for studying Abroad and in India

* On going through with WeMakeScholars

** Interest rates may vary based on the changes in repo rate.

Details for MBA/Executive MBA loan

* Interest rates may vary based on the changes in repo rate.

Before initiating the loan process, it is essential to submit your documents to Auxilo. Ensuring that you have all the necessary documents at hand before beginning the loan application process is very important to make sure that you have an easy time getting your loan processed. Below are a few of the main documents required, but keep in mind that many other documents may be needed as well throughout your loan process the full list and never miss any document with our complete checklist of documents.

Applying directly from Auxilo:

Step 1:Reach out to Auxilo through their website and contact number.

Step 2:Begin application process.

Step 3:Get your personalized loan structure.

Step 4:Get funded!

Looks simple, doesn’t it? Applying directly also involves many branch visits, long, offline processes, hidden charges, and a lot of confusion. Why put yourself through so much trouble? Choose the easy way, choose WeMakeScholars.

Applying via WeMakeScholars:

Step 1: Request a call back from our team. 

Step 2:  A financial officer from our team 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. Choose from the provided lenders. 

Step 4: After which you’ll be provided with a link to the 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.

Step 6: You will be asked to sign the loan agreement and be provided with your auxilo education loan sanction letter.

Students are sometimes weighed down by the worries of interest payments and loan repayment. While it might feel like there’s no way but to pay all the loans ourselves, there are some Government education loan schemes and scholarships that take some burden off of the student and the co-applicant. Under these interest subsidy schemes, the interest rate accumulated during the moratorium period is paid by the government of India. 

Central Program for Interest Subsidy for Economically Weaker Sections

To qualify for this interest subsidy initiative, the student must have a gross family income of less than 4.5 Lakhs.

Dr. Ambedkar Central Sector Scheme

To be eligible for this scheme, the student must belong to the OBC or EBC groups and have a gross family income of less than 8 Lakhs.

Both of these programs apply to students pursuing higher education in India.

For students studying in foreign countries, scholarships come to the rescue. There are thousands of scholarships on our website. Check your eligibility and apply for them.