Axis Bank Education Loan

Axis Bank

Axis Bank's Education Loan aims to provide the much needed financial support to deserving students for pursuing higher professional or technical education in India and abroad. The education loan would be provided to those students who have obtained admission to career-oriented courses e.g. medicine, engineering, management etc., either at the graduate or post-graduate level.

We believe, given the right tools and aid every child has the potential to be successful. Our education loans aim to be the very tool that will enable them to reach their goals in life. No more would a deserving student have to give away their pursuit of dreams due to lack of money. Our student loans will ensure that worthy students are empowered to take their destiny in to their own hands. Our endeavour is to help the future of our nation in education and prosperity.

Axis Bank Eduation Loan

Axis Bank brings you Education Loans for studies both in India and abroad starting from Rs. 50,000 at attractive interest rates. With an Axis Bank Education Loan you can enjoy a host of benefits such as simple documentation, quick loan disbursal, tax benefit u/s 80(E), long repayment tenure, etc. Find out more about the features and benefits of the Education Loan, below.

Features and Benefits of Axis Bank Education Loan:

Avail high value loans

• Minimum Rs-50,000
• The loan will cover tutionfees,hostel charges(if any),cost of books etc.
• The quantum of education loan can be determined,subject to eligibility and cost,for case to case approval.
• Get marginal cost based lending rate(MCLR) at 8.65.
• No margin on educational loans uptoRs 4,00,000.
• 5% margin on educational loans above Rs 4,00,000 for studies within India.
• 15% margin on educational loans above Rs 4,00,000 for studies overseas.
• Education loans are given to worthy students who have obtained admissions to career-oriented courses like medicine,engineering,managementetc at graduate or post-graduate level.
• The parent(s) or guardian will be treated as a coapplicant on the education loan and his or her role would be that of the primary debtor.

Secure your education loan

• Third party guarantee and/or collateral security may be asked for appropriate cases.
• Additional security in the form of an LIC Policy in favour of the Bank with the sum assured being at least 100% of the education loan amount may be required.
• Annual premium for the same may be included while computing the education loan requirement and future income of the student needs to be assigned in favour of the Bank to meet instalment obligations.
• Tangible collateral security of suitable value acceptable to bank may be required along with the assignment of future income of the student for payment of installments.

Axis Bank provides Education Loans for students looking to study in India and abroad. You can get a loan starting from Rs. 50,000 at attractive interest rates with benefits such as no pre-payment charges and no pre-closure charges. Find out the education loan eligibility criteria for availing an Axis Bank student loan.

The Education Loan will be provided to those students who have

• Indian Citizenship
• Secured at least 50% marks during HSC & Graduation
• Who have obtained admission to career-oriented courses e.g. Medicine, Engineering, Management etc., either at the graduate or post-graduate level
• Secured admission in India or Abroad through entrance test / merit based selection process post completion of HSC (10+2)
• Documents displaying regular income is mandatory for the co-applicant( parents/sibling/guarantor)
• The education loan eligibility will be determined by Axis Bank as per the Bank's policy prevailing at the time of loan application and disbursement.

Documents required for Education Loan

Axis Bank Education Loans helps you finance your tuition fees, hostel charges, study materials, etc. The Bank provides quick and hassle-free loans once you provide the application and required documents. Find out the documents required for Education Loan.

Documents for Education Loan for salaried individuals:

• Passport
• Voter ID card
• Driving license
• PAN card
• Government department ID card
• Latest salary slip showing all deductions or Form 16 along with recent salary certificate.
Proof of residence (any one of the following):
• Bank account statement
• Latest electricity bill
• Latest mobile / telephone bill
• Existing house lease agreement
• 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 for Education Loan for all other Individuals

• Passport
• Voter ID card
• Driving license
• PAN card
• IT returns of the last 2 years and computation of income of last 2 years certified by a Chartered Accountant
Proof of residence (any one of the following):
• Bank account statement
• Latest electricity bill
• Latest mobile / telephone bill
• Existing house lease agreement
• 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

• Demand letter from 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.

• Demand letter from 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, marksheet, bonafide certificate (Any one)
• Form A2 signed by applicant or co-applicants in case of overseas institute

Axis Bank Education Loan Interest Rates

Customers who have availed disbursement / have received a sanction prior to March 31, 2016 will continue to operate on base rate. Existing customers can get in touch with our customer care, if they wish to switch to MCLR.

Education Loan Charges ( Applicable from 10th Jan 2019 )

Website: https://www.axisbank.com/Education Loan