Axis Bank Education Loan Interest Rate Apr 2020

Every child needs a quality education in order to lead a complete, successful and comfortable life. Unfortunately, such education comes at a cost that not everyone who deserves it can afford. That is where education loans comes into play. Education loans are funds offered by banks and financial institutions to meritorious students to help them pursue their dream course.

Axis Bank Education Loan Interest Rate is quite competitive for education in India’s finest institutes and on studying abroad. Interest rates on Education Loans are floating, and vary with the changes in MCLR. Axis Bank Education loan interest rates are in the range of 13.70% and 15.20%.

Education Loan Axis Bank

	Courses in India	Courses Abroad	IIT, IIM, ISB Courses
Max Loan Amount	Rs. 75 Lakh	Rs. 75 Lakh	Rs. 75 Lakh
Interest Rates
Loans upto Rs. 4 lakh	15.20 %	15.20 %	15.20 %
Loans Rs. 4.0 - 7.5 lakh	14.70 %	14.70 %	14.70 %
Loans > Rs. 7.5 lakh	13.70 %	13.70 %	13.70 %
Margin requirement (own contribution by student/ family)
Loans upto Rs. 4 lakh	0%	0%	0%
Loans above Rs. 4 lakh	5%	15%	5%
Max Tenure Post Moratorium
Loans upto Rs. 7.5 lakh	7 years	7 years	7 years
Loans above Rs. 7.5 lakh	7 years	7 years	7 years
Co-Applicant required (Y/N)	Yes	Yes	Yes
Third Party Guarantee
Loans upto Rs. 4 lakh	Case to case	Case to case	Case to case
Loans Rs. 4.0 - 7.5 lakh	Case to case	Case to case	Case to case
Loans > Rs. 7.5 lakh	Case to case	Case to case	Case to case
Collateral Security (Fixed deposit/ Property, LIC)
Loans upto Rs. 4 lakh	Case to case	Case to case	Case to case
Loans Rs. 4.0 - 7.5 lakh	Case to case	Case to case	Case to case
Loans > Rs. 7.5 lakh	Case to case	Case to case	Case to case
Prepayment Charges (Y/N)	Nil	Nil	Nil
Moratorium Period (lower of the two)
After course period	12 months	12 months	12 months
After getting job	6 months	6 months	6 months

Axis Bank Education Loan

Education Loan amount can be used for a variety of purposes, covering all aspects of needs that a student might have with respect to his studies. These include:

• The purchase of books, uniform, stationery
• The purchase of laptops, tablets (as per the demand of the course)
• Examination, library and hostel fees
• Travel expenses/ passage money for studies abroad.
• Additional costs deemed necessary for the completion of the course.

Axis Bank Student Loan Features

Axis Bank student loans come with the following attractive features:

• Avail high value loans up to Rs. 75 lakhs for studies in India or abroad
• Easy loan disbursal, within 15 working days from the date of the complete submission of all documents required for a proper appraisal

Axis Bank Education Loan Eligibility

Parameters	Axis Bank Education Loan Eligibility Criteria
Age of the Applicant	Upto 35 years for non-employed personnels Upto 45 years in case of working employees/ executives
Who can apply	An Indian National having secured admission to professional/technical courses in recognized institutions. Permanent employees who are employed for not less than three years with any organisation and who intend to acquire higher professional qualifications and have secured admissions in a reputed institute.
Maximum Loan Amount	Upto Rs. 7,500,000 for studies in India. Upto Rs. 7,500,000 for studies abroad. Upto Rs. 7,500,000 for studies at IIT's, IIM's and ISB's. These amounts are subjective to margin requirements as mentioned in the table above
Repayment Frequency	Quarterly or monthly rests. Repayment in Education Loans typically starts 1 year after completing the course or six months after getting a job, whichever is earlier. Loan interest re‐payment will start immediately after disbursement of the first installment of the loan.
Repayment Period	Tenure of an Education Loan consists of Duration of Study, Grace Period after the Study and Repayment Period. For Indian courses repayment tenure is maximum of 7 years after the commencement of repayment. For Abroad courses repayment tenure is maximum of 7 years after the commencement of repayment.

Axis Bank Education Loan EMI Calculator

Axis Bank Education Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Axis Bank against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.

Axis Bank Education Loan repayment calculator calculates EMI based on the loan amount you have applied for, interest charged on loan and the tenure for which you have applied. offers affordable and convenient education loans with loan EMIs as low as Rs. 14,946 per lakh for a 7 years tenure and lowest rate of interest of 13.70%.