Mumbai: Dewan Housing Finance Corporation Limited (DHFL), India’s leading finance companies, has entered in the education sector with the launch of Avanse Education Loans (Avanse). By introducing a new venture, the country’s second-largest housing finance company in the private sector, is aiming to fulfill the growing need for education finance at reasonable terms.
Avanse is a new age Non-Banking Finance Company (NBFC) focused towards providing education loans for higher studies. Along with prominent courses like, engineering, business and management, Avanse, would also offer assistance for new age domains such as Aquaculture, Photo Journalism, along with courses in Music & Culture as well.
Explaining more, Mr. Kapil Wadhawan, Chairman and Managing Director, DHFL said that by introducing this loan scheme, we wish to enable easy financial access to the youth, in order to develop their abilities through higher education. Education loans provide a large business opportunity, since India has an estimated 150 million people falling in the age group of 18 to 23 years. This has made higher education an attractive opportunity for private and foreign players, he explained.
As per the statement issued by DHFL, Avanse Education Loans will cover complete cost of education including living and other expenses of a student. The company is offering educational loans with minimum loan value being Rs 50000 up to the maximum value required, and offers flexible repayment plans with repayment tenure up to 10 years (120 months).
This new undertaking of DHFL has earmarked its expansion plan, and in its initial phase will have dedicated offices across 10 major locations which include, Mumbai, Delhi, Chennai, Kolkata, Pune, Hyderabad, Bangalore, Ahmedabad, Jaipur and Chandigarh.
