Axis Bank Education Loan Interest Rate Apr 2018
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 15.00% and 17.50%.
Education Loan Axis Bank
Courses in India | Courses Abroad | IIT, IIM, ISB Courses | |
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Max Loan Amount | Rs. 75 Lakh | Rs. 75 Lakh | Rs. 75 Lakh |
Interest Rates | |||
Loans upto Rs. 4 lakh | 16.50 % , for Girls - 16.00% | 16.50 % , for Girls - 16.00% | 16.50 % , for Girls - 16.00% |
Loans Rs. 4.0 - 7.5 lakh | 17.50 % , for Girls - 17.00% | 17.50 % , for Girls - 17.00% | 17.50 % , for Girls - 17.00% |
Loans > Rs. 7.5 lakh | 15.50 % , for Girls - 15.00% | 15.50 % , for Girls - 15.00% | 15.50 % , for Girls - 15.00% |
Margin requirement (own contribution by student/ family) | |||
Loans upto Rs. 4 lakh | 100% | 100% | 100% |
Loans above Rs. 4 lakh | 95% | 85% | 95% |
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 |
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Age of the Applicant |
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Who can apply |
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Maximum Loan Amount |
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Repayment Frequency |
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Repayment Period |
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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. 15,009 per lakh for a 7 years tenure and lowest rate of interest of 15.00%.