Auxilo is a digital lending platform that provides education loans to students who want to pursue higher education in India or abroad. The platform offers loans up to Rs. 40 lakhs with flexible repayment options and competitive interest rates. Auxilo’s education loans cover a wide range of expenses, including tuition fees, accommodation, travel, and other related expenses. In this article, we will review the Auxilo Education Loan, its features, and explore its pros and cons, along with some alternatives and frequently asked questions.
Pros of Auxilo Education Loan
- Competitive interest rates
- Loans up to Rs. 40 lakhs
- Flexible repayment options
- Quick and hassle-free loan application process
- No collateral required for loans up to Rs. 7.5 lakhs
- Loans available for both Indian and international universities
Cons of Auxilo Education Loan
- Limited availability in select cities in India
- Processing fees and prepayment charges apply
- Higher interest rates for loans above Rs. 15 lakhs
- Limited loan repayment tenure
Auxilo Education Loan Review by Customers
Auxilo has received positive reviews from students who have used the platform to finance their education. Borrowers have praised the app for its user-friendly interface, quick disbursal, and competitive interest rates. However, some borrowers have raised concerns over the processing fee charged by the app and the limited availability of loans in certain cities.
Additionally, Auxilo offers various value-added services, such as online counseling and guidance to help students choose the right course and institute. The company also provides assistance in securing admission to preferred institutions and offers pre-visa and post-visa services to students studying abroad.
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These apps offer similar services, including education loans with quick disbursal and minimal documentation requirements. However, it’s important to compare interest rates, processing fees, and repayment periods before choosing an app.
Frequently Asked Question (FAQ)
Who is eligible for an education loan on Auxilo?
To be eligible for an education loan on Auxilo, you must be an Indian citizen aged between 18 and 35 years with a confirmed admission letter from a recognized university.
What documents are required to apply for an education loan on Auxilo?
The documents required to apply for an education loan on Auxilo include identity proof, address proof, admission letter, academic records, and income proof of the co-applicant (if any).
How long does it take to get an education loan approved and disbursed on Auxilo?
Auxilo claims to provide quick disbursal, with loan approval and disbursal within 7-10 working days of application.
Auxilo is a popular digital lending platform that provides education loans to students in India and abroad. The platform offers competitive interest rates, flexible repayment options, and a quick and hassle-free loan application process. However, it’s important to consider the processing fee charged by the app and the limited availability of loans in certain cities. Visit ThinkMoneyTrader for more financial bytes like this.