Axis Bank Education Loan

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

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

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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.

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.

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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.