Auxilo Finserve Education Loan

Auxilo Finserve Private Limited is a non-banking financial company (NBFC) in India, focused specifically on education financing for students pursuing courses in India and abroad, across countries such as the US, UK, Canada, Australia, Germany, and New Zealand. Founded in 2017 and registered with the RBI, Auxilo has funded thousands of students across universities in more than 25 countries.

Auxilo has been recognized as "The Most Promising Brand" and received a "Best Education Loan Provider" award. A key differentiator for the lender is that it can extend 100% financing even without a confirmed admission letter, which can help students arrange proof of funds earlier in their visa process. Auxilo evaluates applicants using more than 15 parameters, factoring in the reputation of the university and course along with the co-applicant's creditworthiness, rather than relying purely on income and collateral value.

• The applicant must be an Indian citizen, generally aged 18 years or above
• Confirmed admission from a recognized institute is required before the loan is disbursed, though conditional or pre-admission applications can be initiated in some cases
• A co-borrower is mandatory — this must be an Indian citizen related to the applicant (parent, guardian, sibling, or relative) who earns an income in India
• The co-borrower must hold a bank account in India with cheque transaction facilities
• For secured loans, collateral (property, fixed deposits, insurance policies, etc.) must be held in the name of the applicant, parent, or guardian

For the student applicant:

• Completed education loan application form
• Valid passport
• Identity proof — PAN card, passport, driving licence, or voter ID
• Address proof — a recent telephone, electricity, water, or gas bill, Aadhaar, or driving licence
• Academic records, including 10th and 12th mark sheets and semester-wise undergraduate results
• Standardized test scores where applicable — GRE, GMAT, IELTS, or TOEFL
• Proof of admission, such as the university's admission letter (a conditional offer letter is also accepted to start the process)

For the co-applicant:

• Identity and address proof
• Income proof (salary slips/Form 16 for salaried co-applicants, or ITR and business proof for self-employed co-applicants)
• Bank statements for the last few months

For secured loans:

• Property papers, fixed deposit certificates, or insurance policy documents, held in the name of the applicant, parent, or guardian

• The moratorium period generally covers the full course duration plus an additional 6–12 months, giving students time to find employment before EMIs begin
• Interest may accrue during the moratorium period, and full EMIs - covering both principal and interest - typically start once the moratorium ends, calculated on a reducing balance basis
• For some master's-level loans, borrowers have the option to pay a partial amount (commonly between ₹2,000 and ₹10,000 a month) during the moratorium rather than the full EMI, subject to the co-applicant's income
• For bachelor's-level loans, full EMI payments generally begin from the first month, without a moratorium or partial-payment option
• Interest is calculated on the Auxilo Benchmark Rate plus a spread that depends on the applicant's credit and course profile, charged as simple interest with monthly rests during the tenure
• Repayment tenure can extend up to 10–15 years depending on the loan amount and structure

• Initial enquiry — Reach out to Auxilo to discuss loan parameters and check eligibility.
• Application submission — Submit the loan application along with the required documents online or at a branch.
• Document verification and profiling — Auxilo evaluates the student's academic background, the course and university profile, and the co-applicant's creditworthiness.
• Sanction — Once approved, a sanction letter is issued specifying the loan amount, interest rate, and terms, useful as proof of funds for the visa process.
• Agreement and disbursement — After documentation is completed, funds are disbursed directly to the university as per its fee schedule, typically via a dedicated bank account set up in the applicant's name.