FAQs

Auxilo offer loans at floating rates of interest - this means that your study abroad education loan interest rate can go up and come down. Therefore, it could vary because it is dependent on the external economic conditions and internal company policies. OR Auxilo offer loans with the fixed interest rate - this means that your education loan interest rate will remain same.

With the cost of education, while studying abroad is continually on the rise and the limited availability of financial assistance or scholarship aid, higher education funding can be very challenging. At Auxilo, we understand this and hence offer a Pre-admission Education Loan, basis the preparatory exams scores and student's strength or credit worthiness of the applicant/s (parents/guardian/co-borrower/borrower). A student can use this to present the same as proof of funds while applying for admissions to different universities/institutes.In fact, with an Auxilo Pre-admission Education Loan, an applicant can strengthen his/her case for admission, including the choice of course.

Auxilo funds all those countries which give the Indian student community a bright future to look forward to.

Auxilo utilizes a comprehensive evaluation process, and considers parameters to assess the student and co-applicant's eligibility for study abroad education loans. These parameters include factors such as the popularity of the university/course and the creditworthiness of the co-applicant.

Yes, Auxilo accepts multiple and multi-city co-applicants. If the eligibility of the primary co-applicant does not fit the Education Loan eligibility, he/she can add more co-applicants. We support multi-city co-applicants as well.

Sure. You may calculate your required loan amount and apply accordingly.

It is possible to increase the tenure of an education loan, but it depends on the lender's policies and the borrower's qualifications. Some lenders may offer an extension of the loan term based on the borrower's income, credit score, and other factors. Additionally, some loan programs may have a maximum loan term that cannot be exceeded. It is best to check with the lender directly to see what options are available.

To calculate your applicable EMIs without using an education loan calculator, you can use the following formula: EMI = P x r x (1+r)^n/((1+r)^n-1) Where: P = Principal loan amount r = Interest rate (annual interest rate divided by 12) n = Number of months for repayment.For example, if you have a loan amount of Rs. 5,00,000 with an interest rate of 12% p.a. and a repayment period of 60 months, your EMI would be:EMI = 500,000 x 0.01 x (1+0.01)^60/((1+0.01)^60-1) = Rs. 11,289. Please note that this is a rough calculation, and the actual EMI may differ slightly depending on the lender's terms and conditions.

You can use an education loan EMI calculator as many times as you need to. It is a useful tool that can help you plan your finances and estimate your monthly payments. You can use it to compare different education loan options and determine which one is the best for you. It is also helpful to use the calculator multiple times as you may need to adjust your education loan amount, interest rate, or repayment period based on your financial situation.

An education loan typically covers expenses related to higher education such as tuition, room and board, books, and other related costs. Some education loans may also cover other expenses such as a computer or transportation. The specifics of what is covered in an education loan can vary depending on the lender and the loan program. It's important to carefully read the terms and conditions of any loan you are considering to ensure that it covers the expenses you need it to.