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Auxilo Finserve ventures into Gujarat, earmarks Rs 100 crore for education financing



Auxilo Finserve Private Limited, India's fastest growing ecosystem NBFC, today announced its foray into Gujarat region to cater to the burgeoning financing market.

The Mumbai-based NBFC has earmarked Rs 100 crore to disburse loans by FY 2021 to fulfil two major education financing requirements - Student loans for higher studies (overseas and domestic) and infrastructure upgradation for schools and education institutions.

Through its newly established specialized centre in Ahmedabad, Auxilo Finserve plans to process quick and hassle-free loans for students, who are aspiring for higher studies in the overseas or domestic arena. The RBI-registered NBFC recognizes students' contemporary interests for new-age courses including - Robotics, Applied Sciences, Artificial Intelligence, Sports Management, Digital Marketing, Film Making etc. and commits to facilitate fast processing loans through its door-step services and tailor-made loan structuring.

It offers loans that cover up to 100 per cent financing on pre-admission, course tuition fees, pre-visa disbursal, air-travel fare and course-related fees at an attractive interest rate. Students benefit from the convenient and flexible options available for repayment.

Auxilo Finserve aims to process financing to entrepreneurs and owners of private schools and educational institutions in the state to support them in revamping their infrastructure and educational amenities through Education Institutions focused-lending financing products.

Gujarat is home to prestigious institutes - Indian Institute of Management, National Institute of Design, National Institute of Fashion Technology, Mudra Institute of Communication, Entrepreneurship Development of India. Interestingly, Ahmedabad city records the third highest number of secondary and higher education students in the state of Gujarat as per survey from DISE (District Information System for Education) 2017-18.

The State, which ranks 9th in the country in the Education Development Index, has recorded overall literacy rates close to 80 per cent. Auxilo Finserve realizes the growing needs of education financing in the State and formulates strategies for a better future.

"We all have appreciated Gujarat's educational and economic contribution to national growth. Through this strategic centre, we aim to create a valuable ecosystem, where we can support as many students in gratifying their higher education dreams through our easy and hassle-free loan structuring. Also, we have designed specialized financial products for school owners and education institutions to fulfil their bigger ideas", said Neeraj Saxena - MD and CEO of Auxilo Finserve Private Limited.

The Gujarat Secondary and Higher Education Board results were announced on May 9, 2019. "This will thus be excellent timing for Auxilo Finserve to begin operations in Gujarat and reach out to future minds who wish to secure financing opportunities from us in achieving their dreams", added Saxena.

Having started operations in October 2017, Auxilo Finserve has supported over 1000 students from various parts of the country, who are now studying in 600 universities spread across 20 countries. The NBFC has established dedicated centres in cities like - Mumbai, Hyderabad, Bangalore, Chennai, Delhi, Pune and now in Ahmedabad.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, June 03 2019. 15:55 IST