Axis Bank Education Loan: Eligibility, Interest Rates & Application Process

Going through high competition and securing admission to top-tier universities is no easy feat. And once the candidate is in, the financial challenges continue. Axis Bank is one of the banks which helps students every step of the way. Axis Bank education loans provide 100% funding for the educational journey, allowing candidates to focus on their studies and future success.

Axis Bank education loan provides financial support to students pursuing higher studies in India and abroad. It also covers up to 100% of the tuition fees, living expenses, and other educational costs. They offer pre-admission sanction letters, which provide peace of mind during the application process. Read more about the Education loan provided by Axis Bank in India and for abroad studies.

Axis Bank Education Loan Overview

The Axis Bank study loan is a financial lifeline for students, helping them fund their higher education without compromising their dreams. Students can check the Axis Bank student loan details overview here.

Axis Bank Education Loan Highlights

How to Apply for an Axis Bank Student Loan?

By following these steps, students can simplify the process of securing a student loan and focus on their academic goals.

• Visit the Axis Bank website and fill out a simple form with the basic personal information.

• An Axis Bank representative will contact the candidate to discuss their education loan needs.

• Work with the loan officer to complete the application form and gather the required documents.

• These documents may include proof of admission, academic transcripts, and income proof from a co-applicant.

• The Axis Bank education loan approval process takes 7-10 working days.

• Once approved, the candidate can expect to receive the Axis Bank student loan funds within two working days.

Benefits of Choosing Axis Bank Education Loan

Students can check the list of benefits that the Axis Bank education loan provides:

• 100% Financing: Access up to 100% of your tuition fees, living expenses, and other educational costs. Students can obtain an Axis Bank education loan starting from as low as Rs 50,000, and there is no upper limit on student loans both in India and abroad.

• Quick Disbursal: Receive funds swiftly to meet immediate financial needs. Once the Axis Bank education loan is approved, the funds are transferred within two days. Also, Axis Bank allows for loan customisation if they require emergency funds for their education.

• Flexible Repayment: Choose a repayment plan that aligns with your post-education financial goals.

• Pre-Admission Sanction Letter: Axis Bank offers a unique advantage: a pre-admission sanction letter. This official document serves as proof of your financial capability, making your application process smoother.

• Minimal Documentation: A hassle-free application process with minimal paperwork.

• Competitive Interest Rates: Enjoy attractive interest rates on the Axis Bank education loan.

Types of Axis Bank Education Loan

Axis Bank Education Loans offers financial solutions to help the candidate achieve their academic aspirations. They have a loan tailored for pursuing a degree in India or Abroad.

Axis Bank Education Loans: Prime Abroad

• Unsecured Loans Up to Rs 1 Crore: For full-time premier courses abroad.

• Door-Step Service: Convenient loan processing right at your doorstep.

• Multi-Currency Forex Card: Simplify your international transactions.

• Flexible Tenure: Choose a repayment tenure of up to 15 years.

Axis Bank Education Loans: Prime Domestic

• Unsecured Loans Up to Rs 75 Lakhs: For selected leading full-time courses in India.

• GRE-Based Funding: Secure loans of up to Rs 50 Lakhs based on your GRE score.

• Income-Based Funding: Loans of up to Rs 50 Lakhs based on your co-applicant's income.

• Flexible Tenure: Choose a repayment tenure of up to 10 years.

• Moratorium Period: No repayments during your course tenure.

Axis Bank Education Loans: Loan for Higher Studies

• No Collateral Security: For loans up to Rs 7.5 Lakhs.

• No Pre-Closure Charges: Flexibility to repay your loan early without penalties.

• Door-Step Service: Convenient loan processing right at your doorstep.

Axis Bank Education Loans: Loan for Working Professionals

• Unsecured Loans Up to Rs 40 Lakhs: For working professionals.

• No Co-Applicant Required: Simplify the application process.

• Flexible Tenure: Choose a repayment tenure of up to 10 years.

Axis Bank Education Loans: Balance Transfer

• Consolidate Your Loans: Switch your existing high-cost education loan to Prime Education Loans.

• Reduce EMIs: Lower your monthly payments.

• No Pre-Closure Charges: Flexibility to repay your loan early without penalties.

• Door-Step Service: Convenient loan processing right at your doorstep.

Eligibility for Axis Bank Education Loans

To be eligible for an Axis Bank Education Loan, you must fulfil the following criteria:

• Indian Citizenship: You must be an Indian citizen.

• Academic Performance: A minimum of 50% marks in your HSC and graduation exams.

• Course Selection: Admission to a recognized institution for career-oriented courses like medicine, engineering, management, etc., at the graduate or postgraduate level.

• Admission Confirmation: Secured admission to a college or university in India or abroad through entrance exams or merit-based selection.

• Co-Applicant's Income: A co-applicant (parent, sibling, or guarantor) with a stable income is required to provide proof of income.

Documents required for Axis Bank Education Loan

Axis Bank education loans cover a wide range of expenses, including tuition fees, hostel charges, and study materials. The Axis Bank education loan provides quick and hassle-free loans once they provide the application and required documents. Find out the documents required for the Axis Bank education loan.

Documents for Axis Bank 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 fee schedule

• Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses

Documents for Axis Bank Education Loan for all Other Individuals

• KYC documents

• Bank statement / pass book of last 6 months

• Optional – Guarantor form

• Copy of admission letter of the Institute along with fee schedule

• Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses

Documents required for 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, marksheet, bonafide certificate (Anyone)

• Form A2 signed by applicant or co-applicants in case of overseas institute

Axis Bank Education Loan Interest Rates

Axis Bank's Support for Government Subsidy Schemes

Axis Bank is committed to making education accessible to all. They offer Axis Bank education loans under various government subsidy schemes to help students from economically weaker sections and West Bengal.

Central Sector Interest Subsidy Scheme

• Eligibility: Students from economically weaker sections (annual parental income up to Rs 4.5 lakhs) pursuing technical or professional courses in India.

• Loan Amount: Up to Rs 7.5 lakhs without collateral or third-party guarantee.

• Required Documents: Income certificate, bonafide student certificate, and interest subsidy agreement.

West Bengal Student Credit Card Subsidy Scheme

• Eligibility: Students from West Bengal pursuing higher studies in India or abroad.

• Loan Amount: Up to Rs 10 lakhs without collateral security.