Axis Bank
Avail
EXclusive / EXciting
Interest rate / EducatIon
offerS / LoanS
Process
- Connect
Arrange a call with an executive by filling the required details. - Get Started
Prepare the list of documents provided by the executive. - Complete
The loan can be availed within 15 working days.
When should I go for a loan?
Before Admission to;
- Smoothen your visa process
- Eligibility check and better planning
- Higher acceptance of sanction letter over solvency one
Documents required for education loans are?
- Finalized application form
- Photograph and Photo ID
- Residence and Admission proof
- Academic documents
- Rooted property documents
- Bank statement along with Income proof of co-applicant
How much is the Margin rate on education loan?
Loan of up to 4 lakhs carries no margin rate whereas those above 4 Lakhs carry a 5% margin
for studying in India and 15% for abroad.
What role does guardian/parents play in education loans?
They act as a debtor and are termed as co-applicant of the student’s loan.
Is there any late EMI payment fee?
Penalty interest of 2% per month on the accrued amount accounting to 24% per annum and Rs. 500 along with taxes for each cheque bounced
What is the amount of loan that can be availed from Axis bank?
Education loan of up to Rs. 7.5 Lakh and higher can be availed from Axis Bank.
What factors affect the approval of an education loan?
Determinants such as;
- Academic background
- Course and University applied for
- Presence and type of security/collateral
- The work profile of the guarantor/co-borrower