Axis Bank Education Loan
Tuesday, April 23, 2019
Education & Career
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Axis Bank Education Loan Scheme

  
  
  
  
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Axis Bank's Study Power aims to provide financial support to deserving students for pursuing higher professional or technical education in India and abroad.

Eligibility

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.

Loan Details

Amount

The loan will cover tuition fees, hostel charges (if any), cost of books, etc.

*The quantum of Loan can be higher amounts, above these caps, subject to eligibility and cost, for case-to-case approval.

Loan will be given within 15 working days from the date of receipt of the complete application along with all documents required by the bank for a proper appraisal. The parent(s) or guardian of the student would be treated as a co-applicant of the loan. His or her role would be, necessarily, like the primary debtor.

Margin:

Security:

Third party guarantee and/or collateral security may be asked for in 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 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 alongwith the assignment of future income of the student for payment of installments.

Documents required for Education Loan

For salaried individuals

For all other Individuals

Rate of Interest

Loan Type - Education Loan

Upto Rs 4 lakhs : 16.50%
Loans greater than Rs. 4 lacs and upto Rs. 7.5 lac : 17.50%
Loans greater than 7.5 lacs : 15.50%

Loan Type - Education Loan for Girl Child

Upto Rs 4 lakhs : 16.00%
Loans greater than Rs. 4 lacs and upto Rs. 7.5 lac : 17.00%
Loans greater than 7.5 lacs : 15.00%

Marginal Cost Based Lending Rate (MCLR) - 8.85%
MCLR Reset frequency for Education Loans - Half Yearly

Disbursement
Loan will be disbursed in full or in suitable instalments taking into account the requirement of funds and/or fee schedule as assessed by the Bank directly to the educational institution or vendor of books or equipment or instruments.

Contact Details

Registered Office - Axis Bank
"TRISHUL",Third Floor, Opp. Samartheshwar Temple, Nr.Law Garden, Ellisbridge, Ahmedabad - 380 006.
Phone : (079) 26409322
Fax: (079) 26409321

Central Offices:
13th Floor, Maker Tower - F, Cuffe Parade, Colaba, Mumbai - 400 005.
Phone : (022) 6707 4407
Fax : (022) 2218 6944, 2218 1429

Website : visit

 

Click here for the nearest bank branches

Note : Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.



 Tags
   Study Abroad Loan , Study Loan for girl students







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