Axis GRE based Funding

About the Scheme

Axis GRE based Fundingoffers an option for students to acquire an unsecured loan for studying abroad based on GRE scores, up to a maximum of Rs.50 lakhs. During your course, you can enjoy a moratorium before the commencement of loan repayments, enabling you to concentrate exclusively on your studies. The loan repayment period extends up to 10 years so you would have ample time to manage the payments.

Axis GRE based Funding Rate of Interest

The interest rate for Axis GRE based Funding on an education loan is linked to the current repo rate, which is 6.25%, with an additional margin. For loans based on MCLR, the rate is 9.35%. The rate may vary depending on the loan type and market conditions.

Investment

Secure

Secure your child’s future with or without you

Start Investing

₹10,000/Month

& Get

₹1 Crore^*

VIEW PLANS

*Standard T & C Apply

Features of the Scheme

Key features of the Axis GRE-based Funding include:

1. No Processing Charges

   No additional fees for applying or processing the loan.

2. No Collateral

   This loan does not require assets or security.

3. Flexible Loan Amount

   Loan amounts may be as high as Rs. 50 lakhs for international studies.

4. Tax Benefits

   Claim tax deductions under Section 80 E on interest payments.

5. Moratorium Period

   The repayment will start after completion of your course, and the repayment term will extend up to 10 years.

6. Child Investment Plan

   The scheme includes a child investment plan that provides future educational savings.

Eligibility of the Axis GRE based Funding Scheme

To be eligible for the education loan under the Axis GRE-based Funding, applicants must meet the following criteria:

1. Indian Citizenship

   The applicant must be a citizen of India.

2. Valid GRE Score

   The applicant must have a valid GRE score.

3. Admission to Recognised University

   They must have secured admission to a recognised foreign university based on their GRE score.

4. No Collateral Required

   The scheme does not require collateral for securing the loan.

5. Co-Applicant Required

   A co-applicant with regular income is required for loan approval.

Documents Required

The following documents are necessary when applying for Axis GRE based Funding:

1. Completed application form

   Filled with all necessary details.

2. Passport-size photographs

   Recent ones for identification.

3. Identity proof

   Aadhaar card, PAN card, voter ID, driving licence, or passport.

4. Age proof

   Aadhaar card, passport, or birth certificate.

5. GRE score proof

   GRE scorecard or official document to verify the GRE score.

6. Admission documents

   Admission letter and fee details from the university.

7. Academic records

   10th, 12th, and other relevant marksheets/certificates.

8. Proof of residence

   Utility bill, bank statement, or rental agreement.

9. Co-applicant income proof

   Recent salary slips, bank statements, and ITR.

10. Co-applicant assets and liabilities proof

    Relevant documents.

Most Important Terms and Conditions

1. Loan amount

   Get up to ₹50 lakhs without collateral based on your GRE score.

2. Moratorium

   Repayment is deferred until after the course is completed.

3. Tenure

   Loan tenure can be extended up to 10 years for flexible repayment.

4. Co-applicant

   A co-applicant must provide proof of income for support.

5. Tax benefits

   You can claim tax deductions on the loan's interest under Section 80 E.

6. Tax planning

   Use an income tax calculator to see how the loan can reduce your taxable income.

7. Education planning

   This funding can be part of a broader child education plan for future academic goals.