Axis Bank Education Loan

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.

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  • Insurer pays premium in case of loss of life of parent

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We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

About Axis Bank Education Loan

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.

Axis Bank Education Loan Interest Rates 2024

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%

Features of Axis Bank Education Loan

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

People also read: Child Education Plan

Axis Bank Education Loan EMI Calculator

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. 

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Steps to Apply for Axis Bank Education Loan

Follow these simple steps to apply for an Axis Bank student loan in India:

  1. Apply Online

    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.

  2. Apply Offline

    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.

Eligibility Criteria for Axis Bank Education Loan

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.

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Documents Required for Axis Bank Education Loan

  • KYC documents: Proof of identity, proof of address, and proof of date of birth.

  • Bank statement: Bank statement of the last 6 months.

  • Admission letter: Admission letter from the institute where you are enrolled.

  • Fee structure: Fee structure of the course you are enrolled in.

  • Guarantor form: Optional guarantor form.

  1. First Disbursement:

    • 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.

  2. Subsequent Fund Releases

    • 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.

People also read: Sukanya Samriddhi Yojana

Axis Bank Education Loan - Subsidy Scheme

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.

Conclusion

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.

FAQ's

  • Is Axis Bank good for education loans?

    Yes, Axis Bank is a good option for an education loan. It offers a variety of benefits, including competitive interest rates, flexible loan amounts, and quick disbursals. Additionally, Axis Bank has a strong track record of providing education loans to students in India.
  • Which Bank provides a 100% education loan?

    Here are some of the banks that offer 100% education loans:
    • Axis Bank

    • State Bank of India (SBI)

    • Bank of Baroda (BoB)

    • IDFC FIRST Bank

  • Can I get a 40 lakhs education loan without collateral?

    Yes, it is possible to get an education loan of up to Rs. 40 lakhs without collateral. Several banks and non-banking financial companies (NBFCs) in India offer education loans without collateral for both domestic and international studies.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.
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^^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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