Avanse announces exclusive education loan on Teachers' Day

By NT Bureau Published on Sep 06, 2018 03:07 PM IST

Amit Gainda

Chennai: For Teachers' Day, Avanse Financial Services (Avanse) an education finance company has announced the launch of an exclusive education loan offer to honour teachers across India.

Avanse will provide five per cent cashback of the funded tuition fee to student applicants who have at least one parent as a teacher.

To be eligible for this offer, the student has to opt for a post-graduate course of two to 2.5 years at any domestic and international university. The offer is valid for a period of one month from 1 September to 30 September.

Commenting on the initiative, CEO, Avanse Financial Services, Amit Gainda, said, "To commemorate the contribution of teachers to India’s education system, Avanse is glad to dedicate the month of September towards fulfilling higher education aspirations of students whose parent / parents are teacher/s. This is a way to give back to teachers who are the pillars of the society acknowledging their efforts in being an integral part of student’s life."

Eligible students can apply for the offer as a primary applicant for the minimum loan amount of Rs 4 lakh to a maximum of Rs 30 lakhs as incurred for the cost of higher education.

The offer is valid for both secured and non-secured loans and collaterals will be required as per credit policy. The Interest rate levied will be in the range of 12 per cent to 13 per cent for a loan tenure of 10 years.

Students can avail the cashback amount post the course completion, by submitting the final mark sheet and passing certificate.

This will be verified and cashback will be given by way of the prepayment account being debited and the student loan account being credited.