10 March 2023: Avanse Financial Services Ltd. (Avanse), India’s new age, technologically advanced, education-focused non-banking financial company (NBFC), announced a special offer on education loans for female higher education aspirants to celebrate International Women’s Day. To encourage women to pursue their higher education aspirations in any course and university of their choice, Avanse introduced an exclusive offer where the organization will waive off the last eight EMIs from the loan repayment structure. Additionally, it will refund the entire processing fee of the loan for female students upon timely repayment of loan instalments.
This special offer will be available on education loans sanctioned to women borrowers between 08 March and 08 June 2023. It is applicable to higher education programs in India as well as abroad.
Here’s a quick illustration of how women applicants can benefit from this unique offer. On an average education loan of ~INR 20 lacs taken by a female higher education aspirant for studying abroad, the applicant will be able to access a benefit of ~INR 3.31 lacs waiver from the overall repayment amount. The processing fee on this loan will be ~INR 24,000, which will be refunded to her upon timely repayment of loan instalments enabling her to save a total amount of ~INR 3.5 lacs.
Avanse has always celebrated the power of women and, in the past, has introduced various offers such as waiving off a certain amount of EMIs, offering attractive interest rates, cashback offers, and many more. The organization introduced a similar scheme last year, facilitating education financing solutions to around 1,000+ female aspirants. During the entire year (YTD FY23), Avanse provided education financing to ~3,600 female aspirants, which is 30% of the total students funded. The NBFC has always been focused on building a more equitable and inclusive society where women can thrive and succeed.
Commenting on this initiative, Mr. Amit Gainda, Managing Director and CEO, of Avanse Financial Services, said, “To celebrate International Women’s Day and to salute the power of womanhood, we have designed this special offer for female aspirants so that they can pursue their higher education independently. We strongly believe in one of the famous sayings that if you educate a man, you educate an individual. But if you educate a woman, you educate a nation. Educating women results in empowered families, stronger societies, a knowledgeable economy, and, ultimately, a prosperous nation.”
Avanse Financial Services has been focused on its purpose of democratizing education and education financing in India. Its core is to ensure that no deserving student should miss an opportunity to access quality education due to the lack of finance, irrespective of their social strata or co-borrowers financial background. The organization has fulfilled the educational dreams of ~3 lac academic aspirants across 3,000+ institutes and 27,000+ courses in 50+ countries. The firm has also provided growth and working capital to ~1.2K educational institutes catering to over ~5-6 lac students.