Axis Bank Education Loan is a tailored financial solution designed to empower students in pursuing their educational aspirations. With competitive interest rates, flexible repayment options, and hassle-free application processes, this loan is crafted to ease the financial burden of education. Whether you're aiming for undergraduate, postgraduate, or professional courses, Axis Bank is committed to supporting your academic journey.
Read moreNothing Is More Important Than Securing Your Child's Future
Invest ₹10k/month your child will get ₹1 Cr# Tax-Free* on Maturity
Axis Bank offers a variety of education loans to help students finance their higher education. Offering competitive interest rates, flexible repayment options, and a straightforward application process, this loan ensures accessibility to quality education without overwhelming financial strain. These loans can be used for both domestic and overseas studies.
You can avail a loan starting from just Rs. 50,000. Axis Bank Education Loan provides benefits like tax advantages, straightforward documentation, and swift disbursal of funds.
Amount of Loan | Axis Bank Education Loan Interest Rates |
< Rs. 4 lakhs | 15.20% |
Rs. 4 lakhs – Rs. 7.5 lakhs | 14.70% |
> Rs. 7.5 lakhs | 13.70% |
Axis Bank education loan comes with a range of features and benefits; some of them are as follows:
Access high-value loans.
Borrow a loan amount starting from Rs. 50,000 with no upper limit.
Benefit from attractive interest rates.
Obtain a pre-admission sanction letter based on your profile.
No margin required for loans up to Rs. 4 lakh.
Funding up to 100% of total cost of education
Flexible usage for various courses.
Experience fast disbursal of funds.
Appoint a guardian as the co-applicant.
Security may be required.
Choose between installment or lump sum disbursement for the education loan.
Offers door-step service for education loans
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You can easily estimate your monthly student loan payments using an EMI calculator. Simply input essential details like loan amount, term, interest rate, and processing fee. These calculators provide quicker and more accurate results compared to manual calculations.Â
Follow these simple steps to apply for an Axis Bank student loan in India:
Step 1: Visit Axis Bank's official website.
Step 2: Input your details, including name, mobile number, email ID, state, city, and confirm whether you are an existing customer. Complete the captcha.
Step 3: Agree to the terms and conditions, then click 'Submit.'
Step 4: An Axis Bank representative will contact you to assist with the application process.
Visit your nearest Axis Bank branch to collect an application form. Submit the completed form along with the required supporting documents. The bank will then process your application.
The following individuals can apply for Axis bank student loan in India:
Age: You must be between 18 and 60 years of age.
Nationality: You must be an Indian citizen or a resident of India.
Academic background: You must have a good academic record.
Collateral: You may be required to provide collateral if the loan amount is more than Rs. 50 lakhs.
KYC documents: Proof of identity, proof of address, and proof of date of birth.
Bank statement:Â Bank statement of the last 6 months.
Admission letter:Â Admission letter from the institute where you are enrolled.
Fee structure:Â Fee structure of the course you are enrolled in.
Guarantor form:Â Optional guarantor form.
Submit the signed A2 form for institutes abroad.
Provide collateral documents if requested
Submit receipts confirming payment of the margin money to the college
Include the applicant and co-applicant-signed disbursement request form
Include the sanction letter
Submit the signed loan agreement by both the applicant and co-applicant
Include the demand letter provided by the university or college.
Submit the signed A2 form for institutes abroad
Include exam reports.
Submit receipts confirming payment of the margin money to the college.
Include the applicant and co-applicant-signed disbursement request form.
Include the demand letter provided by the university or college.
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Axis Bank offers education loans to economically disadvantaged students under the Central Government Interest Subsidy Scheme. The scheme ensures that the government covers the entire interest subsidy during the moratorium period. To be eligible, parents must have a minimum annual income of Rs.4.5 lakh, and students must be pursuing professional or technical degrees at authorized colleges.
Key features of the scheme include:
The Government of India will cover the interest during the moratorium period.
The maximum loan amount available is Rs.7.5 lakh.
The subsidy is a one-time provision.
The interest subsidy is not applicable if the student discontinues the course.
Axis Bank's Education Loan offers a comprehensive and flexible financial solution for students aspiring to pursue higher education. With competitive interest rates, easy repayment options, and a streamlined application process, the loan facilitates access to quality education without undue financial burden. Axis Bank's commitment to supporting educational aspirations makes it a reliable choice for students seeking a robust financial partner on their academic journey.
Axis Bank
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†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance
plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CARG 8%; ₹50,45,591 @ CAGR 4%
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.
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