Axis Bank - Education Loan
Private Bank
LOAN MARGIN : 10
COLLATERAL NEEDED
Margin
10
Collateral
Yes
Loan Tenure
Upto 15 years
Processing Fee
12% - 17%
Early Repayment
Yes
Living Cost
Yes
Secured Loan
Amount
Up To 10.5L
Un-Secured Loan
Amount
Up To 1.5L
Quick Loan Sanctions
100% Transparency
No Hidden Fees
24x7 Support
Features Of Axis Bank Abroad Education Loan
Axis Bank, founded in 1994 as UTI Bank, provides education loans to students studying in India or abroad. Axis Bank's education loans include benefits such as tax breaks, minimal documentation, and quick loan disbursement. Axis Bank is India's third largest commercial private bank. The amount of the student loan for study abroad ranges between Rs. 50,000 to Rs. 40 lakhs. Axis education loan not only assists students in meeting the financial requirements of studying abroad, but it also provides a 100% tax benefit on interest paid under Section 80(E) of the IT Act.
Axis Bank also offers government programmes like the Central Government Interest Subsidy Scheme (CSIS) for Economically Weaker Sections (income up to Rs. 4.5 Lakhs) as a scheduled commercial bank in addition to these features. Being a significant provider of educational loans, Axis Bank is aware of the demands of students and provides very competitive loans at lower interest rates. Axis Student loans help numerous students each year gain admission to prestigious institutions and colleges in India and overseas.
Features | Education Loan Details |
---|---|
Loan amount | Upto 10Cr (Collateral) Upto ₹40Lac (Without Collateral) |
Margin money | No margin for Prime & secured loans |
Interest rate | Below is the data and information about Axis Bank Education Loan Interest rate. 1. Loan Type - Education Loan 1.2 Loan Amount (Rs.) - Up to 4 Lakhs 1.3 Repo Rate - 5.40% 1.4 Spread - 9.80% 1.5 Effective ROI - 15.20% 2. Loan Type - Education Loan 2.1 Loan Amount (Rs.) - Loans greater than Rs. 4 Lakhs and up to Rs. 7.5 Lakhs 2.2 Repo Rate - 5.40% 2.3 Spread - 9.30% 2.4 Effective ROI - 14.70% 3. Loan Type - Education Loan 3.1 Loan Amount (Rs.) - Loans greater than Rs. 7.5 Lakhs 3.2 Repo Rate - 5.40% 3.3 Spread - 8.30% 3.4 Effective ROI - 13.70% Axis Bank Education loan processing time is 7-10 days whereas the processing fees are up to 2% of the loan amount + GST |
Processing fee | 0.38% to 0.75% +GST |
Processing time | 12 Working Days |
Loan tenure | 15 Years |
Prepayment charges | Nil |
Countries covered | USA, Canada, UK, Ireland, New Zealand, Australia, Germany and others |