University of Manchester
United Kingdom
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| Interest Rate | Starts at 10.5% |
| Loan Amount (Collateral) | Upto ₹65 Lac |
| Loan Amount (Without Collateral) | Upto ₹200 Lac |
| Processing Fees | starts 1% |
| Processing Time | 3 working days |
| Loan Tenure | up to 12 years |
| Margin | 100% Funding |
| Prepayment Charges | Zero |
| Moratorium Period | Course + 1 year |
| Admit Letter | Not Required |
| Tax Benefits | No |
| Type | NBFC |
| Life Insurance | Required |
Auxilo is a registered Non-Banking Financial Institution offering Education loans to students planning to Study Abroad. They provide UnSecured Loan up to ₹65 Lakh for the USA, up to ₹35 Lakh for the United Kingdom (UK), Germany, Ireland, and Canada, and up to ₹45 Lakh for Australia. For other Countries, it varies based on the Cost of Education. You will have up to 100% funding for a tenure of up to 12 years. The option of Pre-Visa Disbursement is also available if the applicant requires it.
For a Master's application, they do not require Collateral unless there are CIBIL issues, a high cost of education, high credit risk, or academics are low. A Co-Applicant with a minimum of Rs 20,000 monthly income with applicable Income Proofs is recommended. Certain waivers, such as 1-year Income Tax Return and low Income of Co-Applicant, are available for USA applications.
For the Bachelor's application, they will need a Collateral such as a House, Shop, or Building as a security, and the Co-Applicant must be capable of paying EMI from the first month onwards. In these applications, having parents or siblings as Co-Applicant is suggested.
Our Loan Education Expert will help you get up to 50% discount on Auxilo Education Loan Processing Fees and up to 25% discount on Interest rates. Along with that, the process will be completely transparent and fast-forwarding.
Here is the basic Eligiblity Criteria for Study Abroad Education Loan by Auxilo.
| Country | Maximum Loan Amount |
|---|---|
| USA | Rs 65 Lacs |
| United Kingdom | Rs 35 Lacs |
| Canada | Rs 40 Lacs |
| Australia | Rs 45 Lacs |
| Germany | Rs 25 Lacs |
*The mentioned amounts are tentative, subject to change anytime and vary based on each application
For the Unsecured and Secured Loans for Masters, Auxilo has an option of partial simple interest EMI, where the student has to pay between Rs 2000 and Rs 10,000 monthly only during the moratorium period. By default, this amount is set at Rs 5000 unless asked explicitly by the borrower. The amount will be auto-debited from the Co-Applicant's Bank account around the 10th day of each month. The borrower also has the option to pay only Simple Interest or Full EMI during the Moratorium period, depending on the co-applicant's income.
For the Bachelor's Education Loan by Auxilo, the student has to pay Full EMI from first month onwards. There is no moratorium or partial EMI option available.
| Masters / PG-programs | Partial Interest EMI, Simple Interest EMI, Full EMI |
| Bachelors / UG-programs | Full EMI |
The Loan amount will be disbursed to the HSBC Bank account opened by Auxilo in the applicant's name and transferred to the University as required. The Living Expenses will be provided as a Forex Card or Bank Transfer abroad. If you have already paid the University or Living Expenses through other means, the reimbursement will be made in the applicant's or co-applicant's savings account.
The Auxilo has a default processing fee of 1% + GST, effective 1.18% of the Sanctioned Loan amount. Suppose you apply for a Study Abroad Education Loan at Auxilo via Abroad Cube. Our expert can assist you and negotiate for a discounted processing fee as low as 0.50% + GST, depending upon the application. Hence, you can save a lot for Free without any additional effort.
Here is the list of basic charges involved in Auxilo Study Abroad Education Loan
| Description | Charges & Fees |
|---|---|
| Processing Fees | 1% |
| Life Insurance | Varies |
| Travel & Health Insurance | Varies |
| Collateral Valuation (if applicable) | Rs 5900 |
The Auxilo Support team is available through Email at customercare@auxilo.com and Phone at 1800 123 289456 for queries related to existing and new education loan applications.
Connect with our Education Loan Expert and get your application processed within 3-4 working days*
Check Eligibility For FreeWhen applying for an education loan through Abroad Cube, you can expect higher chances of approval as our expert will verify the documents before submission and suggest better alternatives for higher approval.
Using the latest technology and years of experience, we expedite the application process by 65%, reducing overall processing time. Applying using the exact required documents with the eligible lender is the key to getting an application processed in record processing time.
Our Education Loan Expert will send you a Personalized Document Checklist, removing all unnecessary documents, easing the process and giving you peace of mind.
We will help you get Comparable, Negotiated and best-suited Education Loan deals, saving you up to Rs 3 Lakhs. The major negotiable components are Interest Rate and Processing Fees.
We are not charging any service fees for helping with the Study Abroad Education Loan. Also, there are no hidden fees involved, which is guaranteed. For each approval, we get paid a referral fee by Auxilo without any additional charge to students.
Here is the standard document checklist for getting an education loan from Auxilo or other lenders. The bank or NBFC might ask for additional documents or information based on the application to ease the process.
The Education Loan documents may vary based on individual applications. If you are missing any required documents, please contact our Loan Expert for help!
Start by checking your eligibility on Abroad Cube's website or reach out to us via WhatsApp or phone. The Eligibility criteria include Country acceptance, University and course ranking, Academics, Credit Score and history, co-applicant and Collateral requirements, etc.
Once you pass the basic Eligibility Criteria, the next step will be Documentation. Our Education Loan Expert will send you a personalized Document Checklist of Auxilo and help you arrange, sort and suggest alternatives, if any. Before sending documents to the Auxilo, we ensure that all documents are in order according to the required Checklist to expedite the application login process.
Our Education Loan Expert will choose the best lenders from the pool of 12+ options to get you the best-suited deal. They will follow up with concerned Lender Relationship Managers for Application Login and further processing. The lender process will include getting consent, address verification, and a small telephonic interview with the Credit Manager before the final decision.
The sanction letter will be released within 24 hours once you pay the processing fee to the Bank via acceptable payment methods. Afterwards, you may proceed with the Study Visa process or request Pre-Visa disbursement. You can also ask for reimbursement if you have already paid the Tuition Fees or Living Expenses via other means. Once you complete the banking formalities, the loan amount will be disbursed into the Bank Account
You may apply for Auxilo Education Loan by visiting their local bank branch or contacting their customer support team. But Abroad Cube will help you get a hassle-free Education Loan from your comfort at the best Interest Rate and record processing time at Zero Service Charges.
Abroad Cube is an Online Study Abroad Marketplace that has onboarded 12+ Banks and NBFCs to ease the process of getting the best deal for an Education Loan in minimal processing time. To get started, Check your Eligibility and share your Documents by Email or WhatsApp to expedite your application process.
Get your Education Loan Eligibility checked within 5 minutes
Sorting, Verifying and Submitting Documents as per Checklist
Submission of application to top lenders from a pool of 12+ options
Get Sanction Letter in record time and proceed for Disbursement
Are you worried about your Eligibility for Study Abroad Consultancy? Enter your basic details and check your eligibility within minutes in more than 10 Banks and NBFCs.
Get Education Loan EMI Repayment analysis, monthly EMI and Amortization Schedule in a single click without worrying about complex formulas and calculations.
Testimonials
Testimonials
University of Manchester
United Kingdom
University of British Columbia
Canada
Monash University
Australia
New York University
United States of America
University of Melbourne
Australia
King’s College London
United Kingdom
Technical University of Munich
Germany
National University of Singapore
Singapore
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