Axis Bank Education Loan : Study Abroad, Eligibility,Benefits, Interest Rates, EMI Calculator, Apply Online provides Education Loans for students looking to pursue higher education in India or abroad, at attractive interest rates.

You’ve come to the right place if you’re looking for an education loan for yourself or a dependent. For students wanting to pursue higher education in India or abroad, Axis Bank offers Education Loans at competitive interest rates. You can get a loan from Axis Bank for up to Rs. 75 lakhs, coupled with quick disbursements and simple payback choices for efficient loan servicing.

Loan Name:	Axis Bank Education Loan
Loan Limit:	For India -INR 10 Lacs For Abroad- INR 20 Lacs
Loan Security:	Third party guarantee, Collateral security,
Loan Repayment:	Course Period + 1 year or 6 months after getting job
Maximum Repayment Period:	7 Years

Eligibility for Axis Bank Education Loan

The eligibility criteria for an Axis Bank Education Loan may vary based on factors such as the type of course, whether it is pursued in India or abroad, and the loan amount. While the specific eligibility requirements may vary, here are the general criteria typically considered by Axis Bank for education loan applicants:

1. Nationality: The applicant should be an Indian citizen or an NRI (Non-Resident Indian).
2. Age: The minimum age requirement is usually 18 years, and the maximum age limit is typically around 35-40 years, depending on the course and loan tenure. However, age limits can vary, so it’s important to check with Axis Bank for the specific age criteria.
3. Educational Qualification: The applicant should have secured admission into a recognized educational institution in India or abroad for a qualified course. Axis Bank generally provides loans for various courses, including graduate and postgraduate programs, professional courses, technical courses, diploma programs, and more.
4. Co-applicant: Axis Bank usually requires a co-applicant for the education loan, who is typically a parent or guardian. The co-applicant’s income and creditworthiness are taken into consideration during the loan assessment.
5. Academic Performance: Some courses may have specific academic requirements or cut-off percentages for loan eligibility. Axis Bank may consider the applicant’s past academic performance as one of the factors during the loan assessment process.
6. Loan Amount: The loan amount eligibility depends on factors such as the course, institution, and loan policies of Axis Bank. The maximum loan amount for studying in India is generally up to Rs. 75 lakhs, while for studying abroad, it can be higher. The loan amount eligibility is subject to Axis Bank’s discretion and assessment.
7. Collateral: Axis Bank may require collateral or security for education loans above a certain loan amount. Collateral can be in the form of property, fixed deposits, or other acceptable assets.

It’s important to note that these eligibility criteria can vary based on the specific education loan product and the policies of Axis Bank. It’s advisable to visit the Axis Bank website or contact the bank directly to get detailed and accurate information regarding the eligibility criteria for an Axis Bank Education Loan.

Features and Benefits of Axis Bank Education Loan

Here are some key features and benefits of the Axis Bank Education Loan:

1.Loan Coverage:

Axis Bank offers education loans to cover a wide range of expenses, including tuition fees, examination fees, books and study materials, accommodation charges, living expenses, travel expenses, and other related costs.

2.Loan Amount:

The loan amount provided by Axis Bank can vary depending on the course, institution, and loan policies. The maximum loan amount for studying in India is generally up to Rs. 75 lakhs, and for studying abroad, it can go up to Rs. 75 lakhs or more, subject to the bank’s discretion.

3.Flexible Repayment Options:

Axis Bank offers flexible repayment options for education loans. You can choose to start repaying the loan after the completion of the course or opt for an extended repayment period based on your financial situation.

4.Competitive Interest Rates:

The interest rates for Axis Bank Education Loans are competitive and based on factors such as the loan amount, course type, and applicant’s credit profile. The rates can be fixed or floating, depending on the bank’s policies.

5.Collateral Requirements:

Axis Bank may require collateral or security for education loans above a certain loan amount. The collateral can be in the form of property, fixed deposits, or other acceptable assets.

6.Easy Application Process:

Axis Bank provides a convenient and straightforward application process for education loans. You can apply online through the bank’s website or visit the nearest branch to submit the application form and required documents.

7.Tax Benefits:

Education loans from Axis Bank may qualify for tax benefits under Section 80E of the Income Tax Act, providing deductions on the interest paid on the loan.

It’s important to note that the specific terms, conditions, interest rates, and eligibility criteria for Axis Bank Education Loans may vary, and it’s advisable to visit the Axis Bank website or contact the bank directly for detailed and up-to-date information regarding their education loan offerings.

Axis Bank Education Loan-Documents Required

When applying for an Axis Bank Education Loan, you will typically need to provide certain documents as part of the application process. The specific document requirements may vary based on factors such as the type of course, loan amount, and the applicant’s profile. Here is a general list of documents that may be required:

1. Application Form: Complete and signed application form provided by Axis Bank.
2. Identity Proof: Any one of the following documents can be submitted as proof of identity:
   • Passport
   • Aadhaar Card
   • Voter ID Card
   • PAN Card
   • Driver’s License
3. Address Proof: Any one of the following documents can be submitted as proof of address:
   • Aadhaar Card
   • Voter ID Card
   • Utility bills (electricity bill, water bill, etc.)
   • Rental agreement
4. Admission Documents:
   • Admission letter or offer letter from the educational institution where the applicant has secured admission.
5. Academic Documents:
   • Mark sheets and certificates of the qualifying examination (10th, 12th, or graduation), as required based on the course.
6. Fee Structure:
   • Detailed fee structure or schedule provided by the educational institution.
7. Income Proof:
   • Salary slips or income tax returns of the co-applicant (parent or guardian) to establish their income.
8. Bank Statements:
   • Bank statements of the co-applicant (parent or guardian) for the last 6 months to verify their financial stability.
9. Collateral Documents (if applicable):
   • Property documents (title deeds, sale deed, etc.) or other collateral-related documents, if collateral is required for the loan.
10. Passport-size Photographs:
    • Recent passport-size photographs of the applicant and the co-applicant.
11. Any Additional Documents:
    • Additional documents may be required based on the specific requirements of Axis Bank or the nature of the loan application.

It’s important to note that the above list is indicative, and the actual document requirements may vary based on the loan type, amount, and other factors. It’s advisable to contact Axis Bank directly or visit their website for the most accurate and up-to-date information regarding the required documents for an Axis Bank Education Loan.

Axis bank education loan Interest Rates

The interest rates for Axis Bank Education Loans may vary depending on various factors, including the loan amount, course type, repayment period, and the applicant’s credit profile. It’s important to note that interest rates are subject to change and it’s advisable to check with Axis Bank directly or visit their website for the most up-to-date information. As of my knowledge cutoff in September 2021, here is a general range of interest rates offered by Axis Bank for education loans:

1. For loans up to Rs. 4 lakhs: The interest rate may range from around 11.5% to 13.5%.
2. For loans above Rs. 4 lakhs and up to Rs. 7.5 lakhs: The interest rate may range from around 10.5% to 12.5%.
3. For loans above Rs. 7.5 lakhs: The interest rate may range from around 9.5% to 11.5%.

It’s important to note that these interest rates are indicative and can vary based on the specific loan product, loan amount, repayment period, and the applicant’s creditworthiness. Axis Bank may offer different interest rates and schemes from time to time, so it’s advisable to contact Axis Bank directly or visit their website for the most accurate and updated information regarding the interest rates for an Axis Bank Education Loan.

Axis bank education loan–Study Abroad

Axis Bank offers education loans for students who wish to pursue their studies abroad. The Axis Bank Education Loan for studying abroad provides financial assistance to cover various expenses such as tuition fees, living expenses, travel expenses, accommodation charges, examination fees, and other related costs.

Features and Benefits of the Axis Bank Education Loan

1. Loan Amount: Axis Bank provides loans for studying abroad with a maximum loan amount that can go up to Rs. 75 lakhs or more, subject to the bank’s discretion. The loan amount is determined based on factors such as the course, institution, and the borrower’s profile.
2. Eligible Courses: Axis Bank offers loans for a wide range of courses abroad, including undergraduate, postgraduate, doctoral, professional, technical, vocational, and diploma programs.
3. Loan Coverage: The loan covers various expenses related to education, such as tuition fees, living expenses, study materials, accommodation charges, travel expenses, and other related costs.
4. Competitive Interest Rates: The interest rates for Axis Bank Education Loans for studying abroad are competitive and based on factors such as the loan amount, course type, and the borrower’s credit profile. The rates can be fixed or floating, depending on the bank’s policies.
5. Collateral Requirements: Depending on the loan amount, Axis Bank may require collateral or security. Collateral can be in the form of property, fixed deposits, or other acceptable assets.
6. Flexible Repayment Options: Axis Bank offers flexible repayment options for education loans for studying abroad. Borrowers can choose to start repaying the loan after the completion of the course or opt for an extended repayment period based on their financial situation.
7. Easy Application Process: Axis Bank provides a convenient and straightforward application process for education loans. Students can apply online through the bank’s website or visit the nearest branch to submit the application form and required documents.

It’s important to note that the specific terms, conditions, interest rates, and eligibility criteria for Axis Bank Education Loans for studying abroad may vary, and it’s advisable to visit the Axis Bank website or contact the bank directly for detailed and up-to-date information regarding their education loan offerings for studying abroad.

Axis bank education loan–EMI Calculator

Axis Bank provides an online EMI calculator on their official website to help borrowers estimate their monthly EMIs (Equated Monthly Installments) for an education loan. Here are the steps to use the Axis Bank Education Loan EMI Calculator:

1. Visit the official website of Axis Bank (www.axisbank.com).
2. Navigate to the “Loans” section or search for “Education Loan” on the website.
3. Look for the EMI calculator tool specifically designed for education loans. It is usually located on the loan product page or in the loan calculator section.
4. Click on the EMI calculator to open it.
5. Enter the loan amount you wish to borrow. This should be the total loan amount you require for your education.
6. Input the loan tenure or repayment period. This is the time period in which you plan to repay the loan, typically in years or months.
7. Enter the applicable interest rate for the education loan. This can be obtained from Axis Bank or can be an estimated rate provided by the bank.
8. After filling in the necessary information, click on the “Calculate” or “Calculate EMI” button.
9. The EMI calculator will display the estimated monthly EMI amount based on the provided loan amount, tenure, and interest rate.
10. You can also view a detailed breakup of the EMI, including the principal amount, interest amount, and the outstanding loan balance at the end of each month.

Using the Axis Bank Education Loan EMI Calculator, you can experiment with different loan amounts, tenures, and interest rates to determine the most suitable EMI option for your financial situation. It helps in understanding the monthly repayment obligation and planning your finances accordingly.

Please note that the EMI calculated using the online calculator is an approximation and may not include additional charges or fees associated with the education loan. For precise and accurate EMI calculations, it is recommended to contact Axis Bank directly or visit their branch to discuss the loan terms and conditions.

How to Apply for the Axis Bank Education Loan

Online

The following describes how to apply for a student loan online:

Step 1: Go to Axis Bank’s official website.

Step 2: Fill out the captcha and provide your name, mobile number, email address, city, state, and whether you are a current client.

Step 3: Select “Submit” after accepting the terms and conditions.

Step 4: To complete the request, an Axis Bank representative will get in touch with you.

Offline

You can pick up an application form at the Axis Bank branch that is closest to you. Once the application form and all other supporting documents have been provided, the bank will begin processing the request.

FAQ – Axis Bank Education Loan