Axis Bank Education Loan Overview
Axis Bank provides Education Loans for students who wish to pursue career-oriented courses such as medicine, engineering, management, etc. either at the graduate or post-graduate level, in India or abroad.
Axis Bank brings you Education Loans for studies both in India and abroad starting from Rs. 50,000 at attractive interest rates. With an Axis Bank Education Loan you can enjoy a host of benefits such as simple documentation, quick loan disbursal, tax benefit u/s 80(E), long repayment tenure, etc. Find out more about the features and benefits of Student Loan in India, below.
Features and Benefits of Axis Bank Education Loan
- Minimum – Rs. 50,000
The loan will cover tuition fees, hostel charges (if any), cost of books, etc. - Get Repo Rate linked Interest Rates
- Get a Sanction letter before admission based on your profile
- No margin on education loans up to Rs. 4,00,000
5% margin on education loans above Rs. 4,00,000 for studies within India
15% margin on education loans above Rs. 4,00,000 for studies overseas
Avail education loans for a variety of courses - Education Loans are given to worthy students who have obtained admission to career-oriented courses like medicine, engineering, management, etc. either at the graduate or post-graduate level.
- Within 15 working days from the date of receipt of the complete education loan application along with all documents required by the bank for a proper appraisal.
The parent(s) or guardian will be treated as a co-applicant on the education loan and his or her role will be that of the primary debtor. - Third-party guarantee and/or collateral security may be asked for appropriate cases
- Additional security in the form of a LIC Policy in favor of the Bank with the sum assured being at least 100% of the education loan amount may be required
Annual premium for the same may be included while computing the education loan requirement and the future income of the student needs to be assigned in favor of the Bank to meet installment obligations - Tangible collateral security of suitable value acceptable to the bank may be required along with the assignment of future income of the student for payment of installments
- Education Loan will be disbursed in full or in suitable installments taking into account the requirement of funds and/or fee schedule as assessed by the Bank directly to the educational institution or vendor of books equipment or instruments.
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Sub-Variants of Axis Bank Education Loan
- PRIME ABROAD
- Education Loan for premier full-time courses abroad.
- Unsecured Loan up to 40 Lakhs*.
- Door-Step Service.
- Multi-currency Forex Card.
- Loan Tenure up to 15 years.
- PRIME DOMESTIC
- Education Loan for selected leading full-time courses in India.
- Unsecured Loan up to 40 Lakhs*.
- Door-Step Service.
- Loan Tenure up to 15 years.
- GRE based Funding
- Unsecured Loan for studying abroad based on GRE score.
- Moratorium during the course period.
- Loan tenure up to 10 years.
- Income-based Funding
- Unsecured loan up to Rs. 40 Lakhs* based on co-applicant’s income.
- Applicable for all full-time courses abroad & in India.
- Loan tenure up to 10 years.
- Loan for Higher Study
- Education loan for higher education in India or abroad.
- No Collateral security required for loans up to 7.5 Lakhs.
- No Pre-closure Charges.
- Door-Step Service.
- Loan for Working Professionals
- Unsecured Loan up to 20 Lakhs for working professionals.
- No co-applicant required.
- Loan repayment tenure up to 10 years.
- BALANCE TRANSFER
- Transfer your existing high-cost Education Loan to reduce your monthly EMI.
- No Pre-closure Charges.
- Door-Step Service.
(Note: *The loan amount mentioned is subject to terms and conditions.)
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For further information and to apply for a loan, you can visit the official Axis Bank website or personally visit the nearest Axis Bank branch.
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