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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.

Axis Bank Education Loan 2023
Axis Bank Education Loan 2023

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;

Axis Bank Education Loan

 

FOR MORE VISIT OUR OFFICIAL WEBSITE.

 

Zaryab

I started this website to help the students, You can find the latest scholarships on upscholarship.org, a website that guides you according to your field of study. I will provide the information that students will need to apply for international scholarships in the US, UK, Canada, Australia, Europe, Asia, and Africa.

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