Axis Bank Education Loan 2023 – Application Process & Eligibility Conditions
Axis Bank Education Loan 2023
Axis Bank Education Loan 2023 –Hi Everyone! Hope you are all doing well. Welcome back to another blog. So, guys are you looking for an opportunity that shares your burdensome educational expenses? If yes, then you are at the right platform, read the whole blog carefully and get all the details related to the Axis Bank which provides a lot of schemes or programs to facilitate students to share their educational expenses. They provide the least interest rates, simple processing, and easy repayment facilities to students after the completion of their degree, even after getting the job. They also provide opportunities to those students that are willing to study abroad, but due to high expenses, are not ready to come forward. So, take the education loan from Axis Bank, make your future bright, and lead your career.
Eligibility for Axis Bank Education Loan
The students that are willing to apply for the Axis Bank Education Loan, must have to fulfill the following eligibility conditions, to become eligible to get the loan. Those conditions are;
- Students that are willing to apply must be holders of Indian Nationality.
- Applicants must have 50% marks in the 12th class or graduation.
- Before applying for a loan, applicants must have to complete their admission process for any degree in Medicine, Engineering, Management, etc. at any university inside or outside the country on merit, through any entry test.
- Applicant must have all the documents of both applicant, and co-applicant.
- Applicants must be unemployed.
Documents Demanded
The documents that are needed to apply for the Axis Bank education loan, are varied accordingly, whether you are employed or unemployed. To provide the detail of all documents, I have categorized the documents for your ease;
For Employed Applicants
Employed applicants, must need the following documents;
- Bank Statement for the last 6 months
- Admission letter/ acceptance letter from the university
- Fees structure of the university
- KYC documents
- Optional – Guarantor Form
- Mark sheets / passing certificates of all the exams appeared for and cleared.
For Other Applicants
Other applicants, must need the following documents;
- Bank Statement for the last 6 months
- Admission letter/ acceptance letter from the university
- Fees structure of the university
- KYC documents
- Optional – Guarantor Form
- Mark sheets / passing certificates of all the exams appeared for and cleared.
For Fresh Applicants
Fresh applicants, must need the following documents;
- Letter of the call from college or university
- The authorization letter must be signed by the applicant, co-applicants
- Payment request form signed by applicant, co-applicants
- Form A2 signed by applicant or co-applicants, if you are applying to study abroad
- Loan contract signed by applicant, co-applicants
- Receipts of margin money waged to the college/university
- Bank statement showing the margin money paid
- Collateral security documents (if have)
For Succeeding Payout
- Letter of the call from college or university
- Payout request form signed by applicant, co-applicants
- Form A2 signed by applicant or co-applicants if you are applying to study abroad
- Loan contract signed by applicant, co-applicants
- Receipts of margin money waged to the college/university
- Bank statement showing the margin money paid
Types of Axis Bank Education Loan
Axis Bank provides different types of education loan schemes, which are given below;
| Prime Abroad | Education Loan for full-time
Premier Courses Abroad Unsecured Loan up to 40Lakhs Multi-currency Forex Card available Loan Tenure: up to 15 years |
| Prime Domestic | Education Loan for courses in India
Unsecured Loan amount – up to 40Lakhs Loan Tenure: up to 15 years |
| Income-based Funding | Unsecured loan up to Rs. 40Lakhs
Provided based on co-applicants income Includes full-time abroad & domestic courses Loan tenure up to 10 years |
| GRE based funding | Unsecured Loan for Abroad universities based on GRE score Moratorium period provided during course period Loan tenure up to 10 years |
| Loan for Higher Studies | Education loan for pursuing higher education in India or abroad
No Collateral security required up to 7.5Lakhs No charges for pre-closure of a loan Door-Step Service |
| Balance Transfer | Applicants can switch their existing high-cost Education Loan & reduce their monthly EMINo charges for pre-closure of loan Door-Step Service |
| Loan for Working Professional | Unsecured Loans up to 20Lakhs to working professionals
No co-applicant required Loan repayment tenure up to 10 years |
Interest Rates
Now I will tell you about the interest rates that are applicable by the Axis bank on education loans below;
| Loan Type | Loan Amount | Repo Rate | Spread |
| Education Loan | Up to INR 4 Lacs | 4.00% | 11.20% |
| Education Loan | INR 4 lacs – 7.5 Lacs | 4.00% | 10.70% |
| Education Loan | More than 7.5 Lacs | 4.00% | 9.70% |
How to Apply for the Axis Bank Education Loan?
The students that are willing to apply for the education loan at Axis bank, must have to follow the below-discussed steps. You can apply for the loan by online as well as offline method;
Through Offline Platform
- applicants must have to know all the basics before applying.
- Applicants can visit the nearest branch of Axis Bank to complete the whole paperwork.
- Fill out the application form, attach all documents, and apply for the loan.
- Then wait for the processing.
Through Online Platform
- Visit the official website of Axis Bank.
- After logging in click on ‘Educational Loan
- Then, select the scheme that will be suitable for you
- Then the applicant has to fill out all the required information in the application form.
- After applying for any determiner from Axis Bank will contact you soon.
- To apply and for further details visit the official website;
FOR MORE VISIT OUR OFFICIAL WEBSITE.
