Axis Bank Education Loan
Students seeking education loans from Axis Bank can pursue their studies both domestically and internationally. With reasonable interest rates and features like no pre-payment and pre-closure fees, you can acquire a loan starting at Rs. 50,000. Learn about the requirements for receiving an Axis Bank student loan for educational loans.
Students who qualify will be given an education loan
- Indian nationality
- Obtained at least 50% on the HSC and graduation exams
- Who have been admitted to graduate or post-graduate career-oriented programmes, such as medicine, engineering, management, etc.
- After completing HSC (10+2), obtained admission in India or abroad via entrance exam or merit-based selection process.
- The co-applicant (parents, siblings, or guarantor) must provide proof of monthly income.
Axis Bank will decide whether or not a borrower is eligible for an education loan based on the bank’s policy in effect at the time of the loan application and disbursement.
Advantages of Axis Bank Education Loan
Following are some of the advantages of applying for an educational loan with Axis Bank.
- Low-interest rate
- Less paperwork
- No processing fees
- Faster Disbursal
- No prepayment charges
- No pre-closure charges
How to Apply for Axis Bank Education Loan?
The application is available online or in a nearby Axis Bank location.
You can also download the application for a student loan from the Axis Bank website, fill it out, and hand it into a bank representative.
Documents required for Axis Bank Education Loan:-
You can pay for your tuition, living expenses in a dorm, study materials, etc. with the aid of an Axis Bank education loan. As soon as you submit the application and necessary paperwork, the Bank offers speedy and hassle-free loans. Learn about the paperwork needed for an education loan.
Documents for Education Loan for salaried individuals:
- KYC documents
- Bank Statement / Pass Book of last 6 months
- Optional – Guarantor Form
- Copy of admission letter of the Institute along with fees schedule
- Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses
Documents required for the first disbursement
A demand letter from a college or university
- Loan agreement signed by applicant, co-applicants
- Sanction letter signed by applicant, co-applicants
- Disbursement request form signed by applicant, co-applicants
- Receipts of margin money paid to the college/university along with bank statement reflecting the transaction
- Documents for collateral security (if applicable)
- Form A2 signed by applicant or co-applicants in case of overseas institute
Documents required for subsequent disbursement
- A demand letter from a college or university
- Disbursement request form signed by applicant, co-applicants
- Receipts of margin money paid to the college/university along with bank statement reflecting the transaction
- Exam progress report, mark sheet, bonafide certificate (Anyone)
- Form A2 signed by applicant or co-applicants in case of the overseas institute.
Interest Rate of Axis Bank Education Loan for Studies in India and abroad:
The interest rate is calculated as Interest Rate= Axis Bank Base Rate + Spread
The interest rate is adjustable and has a base lending rate of 8.15%.
Education Loan | Up to Rs.4 lakhs | Base Rate + 7% |
Loans from Rs.4 lakh up to Rs.7.5 lakh | Base Rate + 8% | |
Loans greater than Rs.7.5 lakhs | Base Rate + 6% | |
Education Loan for Girl Students | Up to Rs.4 lakhs | Base Rate + 6.50% |
Loans from Rs.4 lakhs to Rs.7.5 lakhs | Base Rate + 7.50% | |
Loans greater than 7.5 lakhs | Base Rate + 5.50% |