AXIS
Education Loan
Axis Bank Education Loan is extended to all students aspiring to pursue studies either in India
AXIS Education Loan Scheme
Education Loan for students who wish to pursue study in India.
AXIS Education Rate of Interest
The rate of interest is charged on base rate. It differs according to the amount of loan sanctioned.
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For amount upto INR 4 Lacs, interest rate is base rate+ 7%.
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For loan amount ranging between INR 4 to 7.50 Lacs, interest rate is base rate+ 8%
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For loan amount exceeding 7.50 Lacs, interest rate is base rate+ 6%
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0.50% concession in interest is given to girl student
Maximum Loan amount offered under Axis Bank Education Loan for India is INR 10 Lacs and INR 20 Lacs for studying overseas
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Zero margin upto INR 4 Lacs
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No processing fee
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No pre-payment/pre-closure charges
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Loan Disbursed within 15 working days post final submission of documents
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Tax Benefit under Section 80(E)
AXIS Education Loan Eligibility
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Indian National. Applicant must be an Indian citizen
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10+2 Pass. Applicant must have cleared 10+2 with aggregate 60% marks
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Premier Universities. Admission should be secured in recognized institute/ university in India or abroad.
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Co-Signer. Applicant must have a credit worthy co-signer/co-borrower to increase chances of getting a loan
How to apply for AXIS Education Loan ?
AXIS Education loan application form can be available online or offline at Bank branches.
Online :-
Visit the official website
Fill up the form with all the necessary details
Click on Axis Bank Education Loan
Submit the form.
Click on Apply Online
After that visit the nearby AXIS BANK for the further proceedings.
Offline:-
For offline procedure, student can visit the bank and ask for application form for education loan. The bank representative will then be able to guide you with all necessary details and information about margin money, interest rates, and eligibility criteria about the suitable loan for you
AXIS Education Loan Details
Processing Fee
Nil
Loan Security
Third party guarantee
Collateral security
Additionally, assignment of LIC policy in favor of bank amounting 100% of education loan amount
Assignment of Future salaries in favor of Axis Bank
Margin
Up to loan 4 Lacs- No margin
Above 4 Lacs-
for India: 5%
Loan Limit
For India -INR 10 Lacs
Loan Repayment
Course Period + 1 year or 6 months after getting job
Maximum repayment period of 7 years
Expenses covered under Axis Student Loan Scheme
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Cost of Books, Uniforms or Stationery
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Cost of Laptop or computer (Reasonable rate and as per demand of the course)
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Tuition/ Library/ Laboratory Fee
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Hostel Fee
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Miscellaneous cost incurred while completion of the course
Courses Covered Under Axis Student Loan Scheme
In India
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Graduate/ postgraduate/ postgraduate diploma courses
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Courses offered by institutions/universities recognized by UGC, Government, AICTE, AIBMS or ICMR.
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Academic courses- CA, CFA, and ICWAI.
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Courses conducted by NIFT, IITs, IIMs, XLRI, IISc, and NID.
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Regular degree/ diploma courses like, shipping, pilot training, and aeronautical that are approved by Director General of Civil Aviation or Shipping (only if it is pursued in India).
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Courses for noble cause such as teaching training (like B.Ed.), nursing courses, and from other training institutions approved by Central Government or by State Government.
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Reputed foreign universities offering approved courses offered in India.
Education Loan Documents Required ?
Admission Letter with all essential details
Self-Attested copies of age proof, address proof, admission proof
Education Proof- mark sheets of SSC, HSC and degree course certificates
Income tax return statement for last 2 year
Bank statement of last 6 month
Guarantor form from the applicant's guardian or co-borrower
