AXIS Bank Education Loan

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About AXIS Bank Education Loan

AXIS Bank Education Loan

AXIS Bank offers a loan that would be provided to students who have obtained admission to career-oriented courses like, medicine, engineering, management etc., either at the graduate or post-graduate level. The parent(s) or guardian of the student would be treated as a co-applicant of the loan. His or her role would be, necessarily, like the primary debtor.

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AXIS Bank Education Loan Features

No margin for loans upto Rs 4 lacs. For loans above Rs 4 lacs, 5% margin for studies within India and 15% for higher studies overseas.

  1. The minimum amount of loan would be Rs.50,000/-.
  2. The quantum of finance is capped at Rs 10.00 lacs for studies in India and Rs 20.00 lacs for studies abroad
  3. The Loan amount scheme would cover tuition fees, hostel charges (if any), cost of books, etc.

Margin

  1. Education loans upto Rs 4 lacs – No Margin
  2. For loans above Rs 4 lacs – 5% margin for studies within India and 15% for higher studies overseas.

AXIS Bank education Loan Documentation

  1. Proof of identity – Passport or Voter’s ID card or driving license or PAN card or government department ID card
  2. Proof of income
    1. If Salaried Employee – Latest salary slip showing all deductions or Form 16 along with recent salary certificate
    2. For Otehrs – IT returns for the last 2 years and computation of income for the last 2 years certified by a CA
  3. Proof of residence – Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or existing house lease agreement
  4. Bank Statement – Last 6 Months’ Bank statement or Pass Book (where salary or income is credited)
  5. Guarantor form – Optional
  6. Other Documents – Copy of admission letter of the Institute along with Fees schedule, mark sheets / pass certificates of S.S.C, H.S.C , Degree courses

AXIS Bank Education Loan Interest Rates

Education Loan

Up to Rs.4 lakhs Base Rate + 7%
Loans from Rs.4 lakh up to Rs.7.5 lakhs Base Rate + 8%
Loans greater than Rs.7.5 lakhs Base Rate + 6%
Education Loan for Girl Student Up to Rs.4 lakhs Base Rate + 6.50%
Loans from Rs.4 lakhs to Rs.7.5 lakhs Base Rate + 7.50%
Loans greater than 7.5 lakhs Base Rate + 5.50%

*Above Axix bank education loan interest rates are subject to change without notice.

Leading Education Loan Providers (Click to Apply)

  1. SBI Education Loan
  2. HDFC Education Loan
  3. BOI Star Education Loan
  4. ICICI Bank Education Loan
  5. IDBI Education Loan
  6. Canara Bank Education Loan
  7. Other Banks

AXIS Bank Education Loan EMI Calculator AXIS Bank Education Loan Interest Rates
AXIS Bank Education Loan EMI Calculator AXIS Bank Education Loan Interest Rates

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