Auxilo Finserve Private Limited (Auxilo) launched its first branch in Hyderabad and will disburse over INR 75 crore in the next 15 months to students from Hyderabad looking at graduate and postgraduate degrees either from domestic or international universities. During the same period, the company plans to / will disburse over INR 350 crore facilitating students across India to pursue similar courses.
The Indian education loan industry disbursed approximately INR 20,000 crore in the financial year 2016-17 with a registered growth rate of nearly 17% annually. Last year, nearly 300,000 students availed education loan in India with nearly 400,000 students traveling abroad.
‘Hyderabad is one of the largest markets for education loan in India, especially to the US. Hyderabad had registered approximately 30,000 students traveling abroad annually for various courses and is also ranked among the top cities across the globe from where students travel overseas for higher education aspirations’ informed Neeraj Saxena, CEO – Auxilo Finserve Private Limited on the reasons to launch Hyderabad amongst their first branches.
Auxilo will leverage on technology to effectively connect and cater to students to understand and customize their education loan needs. The company will offer both secured and unsecured loans, 100% funding, no limit on loan amount, tenure friendly and doorstep facility to ease the process of securing the loan.
The company plans to have its footprints across major metro and tier 1 cities in the country in its initial phase of operations. Following the launch of operations in Mumbai and Hyderabad the next in line are Bengaluru, Chennai, Delhi and Pune by the next financial year.
Important points and key service areas:
- Auxilo plans to disburse INR 350 crore by FY 19
- The company has launched its first branch at Hyderabad
- The company plans to launch another 11 branches across key metros and Tier 1 locations by FY 19
- The company will focus on providing education loan for domestic and international universities
- The company is looking at strengthening the domestic education ecosystem through its B2B operations
Key product features:
- 100% education loan funding
- Dynamic Disbursement facility
- No Limit on Loan amount
- Secured and Unsecured loan options
- Tenure Friendly
- Student and course-based loan profiling
- Doorstep services
For more details:
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