Axis bank education loan provides a financial hand to the students who wish to take a step towards higher education. The bank offers students the education loan for studies in India and abroad. If you are looking for an education loan to give your aspirations the wings then you can read up on this section and find more about this host of features, Axis bank education loan.
|Loan Amount||Up to Rs 20 lakh (based on studies in India and abroad)|
|Interest Charges||Up to 15.50%|
|Repayment Tenure||Up to 20 years|
|Margin||No margin on loan of up to Rs 4 lakh; For loan above Rs 4 lakh, the margin ranges up to 15%|
Axis bank treats customers with the education loan at sound-good interest charges and an easygoing repayment tenure. Here are the features and benefits of Axis bank education loan that make highlights:
1. Purpose : Students can avail Axis bank education loan to take care of their academic expenses. The bank offers funds to the students to cover the admission fees, tuition fees, hostel fees, exam fees, and other expenses such as stationary, books and travel.
2. Courses : Whether you are someone who wishes to study medicine more or the one with a dream to stretch their skills in management, Axis bank education makes sure the educational expenses do not cause you any barrier.
Axis education loan provides loans for a plethora of courses like medicine, management, engineering etc. for graduation or post graduation. Thus, if you have already secured an admission in any of the career-oriented courses, then this loan may be your next step.
3. Loan Amount : You can enjoy the loan amount of Rs 50,000 at minimum by Axis bank education loan. The loan amount you will be able to fetch will be determined by certain factors such as your eligibility, the institute you are securing admission in etc.
4. Repayment Tenure : Axis bank education loan comes with a flexible repayment tenure. The loan repayment period ranges up to 20 years.
5. Guarantor : When it comes to the Axis bank education loan, the parent or guardian of the student is to be treated as a guarantor/co-applicant.
6. Margin : There is no margin on the loan amount of up to Rs 4 lakh. For loan amounts above Rs 4 lakh, the margin ranges between 5% to 15%.
7. Easy Disbursement : Axis bank education loan takes up to 15 days of the loan application to offer the response. The bank offers easy disbursal of the education loan either in full payment or through installments.
Axis bank education loan has some eligibility standards that are to be met by the students in order to avail the loan approved. Here is the eligibility criteria for Axis bank education loan that one must pass:
Here are the documents required for Axis bank education loan:
Documents required for education loan (for salaried individuals)
Documents required for education loan (for self employed individuals)
|HDFC Bank Education Loan||9.55% to 13.50%|
|Kotak Mahindra Bank Education Loan||11.5% to 24%|
|IDBI Bank Education Loan||8.30% to 10.41%|
|Indian Bank Education Loan||Starts from 8.50%|
|RBL Bank Education Loan||14.15% to 16.15%|
|Bank of Baroda Education Loan||7.50% to 9.75%|
|Bank of India Education Loan||7.25% to 9.75%|
|Canara Bank Education Loan||11.35%|
|Standard Chartered Bank Education Loan||10.99%|
|SBI Student Loan Scheme||9.30%|
|SBI Skill Loan Scheme||8.80%|
|SBI Scholar Loan Scheme||8.30% to 9.95%|
|SBI Takeover of Education Loan||9.30%|
|SBI Global Ed-Vantage||9.30%|
Are you wondering how much EMI will it be on you to repay your Axis bank education loan? If you are not sure then you can use the EMI calculator to give you the accurate answer. You will find Axis bank education loan EMI calculator helpful when it comes to checking the total amount of EMI for the repayment of your loan. On the top, it is a great way to make sure your monthly installments are not bothering your budget and manage the finances accordingly.
Here are the steps to use the Axis bank educational loan EMI calculator:
You should be able to view the Equated Monthly Installment (EMI) below the calculator.
Here are the ways you can apply for the Axis bank education loan:
Apply for Axis Bank Education Loan Offline : You can visit the nearest branch of Axis bank to get started with the Axis bank education loan application. The bank official will help you through the procedure of application for loan. When visiting the bank branch, make sure you have all the required documents that need to be submitted along with the application.
Apply for Axis Bank Education Loan Online
Here are the steps you need to follow to apply for Axis bank education loan online:
By customer care contact number : 18604195555 / 18605005555
By customer care email id : [email protected]
FAQs On Axis Bank Education Loan
Axis bank might take up to 2 weeks to respond to your education loan application. You need to make sure that your application for an education loan is complete.
If you make late payment, you will be charged Rs 500 + taxes on every cheque bounce along with 2% penal interest per month on an overdue installment.
Q.3 Are there any prepayment or foreclosure charges on Axis bank education loan?
No. Axis bank does not charge you any prepayment or foreclosure penalty.
The maximum loan amount is provided by AXIS Bank Education Loan is Rs.75 lakh.
The penal interest is charged by AXIS Bank Education Loan is @24% p.a. i.e. @ 2% p.m. on the overdue installments.Last Updated on : 23/Mar/2021
Know More About
You're eligible for a Axis Bank Education Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Education Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
|Axis Bank Education Loan Details|
|Interest Rate (Monthly reducing balance)||13.7% - 15.2%|
|Loan Tenure||1 year to 15 years|
|Pre-closure Charges||Varies with bank|
|Guarantor Requirement||Varies with bank|
Education Loans EMI Calculator