Overview : Axis Bank Education Loan Online
Established in 1994 as UTI Bank, Axis bank provides education loan to students who want to study in India or abroad. For this purpose, Axis bank has categorized the educational institutions into three parts:
- Prime A: this list contains mostly Masters programmes from top universities.
- Prime B: besides Masters programmes, includes a few Bachelors degrees as well.
- Non-prime: courses and institutes not part of Prime A & B lists are included in this category.
Axis education loan does not just help realize the financial requirements of studying abroad, but also offers 100% tax benefit on the interest paid, under Section 80(E) of the IT Act.
- Features of Education Loan Axis Bank
- Early approval of loan before i20 or visa.
- Attractive interest rates - even for education loan without collateral.
- Covers both tuition and living expenses, including off campus living expenses.
- No pre-payment penalty.
- Tax benefit u/s 80(E).
- Pre-visa disbursal as per the norms of visa offices.
|S.No.||Features||Axis Education Loan Details|
|1.||Loan Amount||Maximum: Rs.40 lakh (Without Collateral)|
|2.||Axis Bank Education Loan Interest Rate||Typically 11% -13% for loans without collateral given to Prime A and B programs. Higher for non-prime programs. Lower with collateral. Exact rate depends on your profile.|
|3.||Processing Fee||For Loan < 20 Lakhs,
Rs.15,000 (refundable) + GST :
For Loan > 20 lakhs,
0.75% of (Loan Amount - 20 lakhs) + GST (Non refundable)
For Example, for a 21 Lakh loan: 0.75% of (21 lakh - 20 lakh) = 750 +GST
|5.||Loan Tenure||20 years|
|6.||Moratorium Period||Course length + 1 Year|
|7.||Payments during the study period||Full Interest (SI)|
|8.||Processing Time||7 days|
Low Turnaround Time
GyanDhan gets the Axis education loan loan approved in just 7 days.
For Axis Education Loans, someone will visit your home to pick-up documents. You will not need to go to any branch to get your loan approved.
No Cost to You
GyanDhan’s services for applicants are absolutely free. We do not charge any kind of processing fees or commissions from the applicants at all.
Higher Chances of Approval
In case of any missing documents or any roadblocks, we approach Axis officials promptly to find solutions. This ensures speedy resolution of issues and significantly increases your odds of approval
Apply Online & Upload Documents
Processing & Approval
Free Doorstep Document Collection
Loan Sanction & Disbursal
GyanDhan provides a customized documents list for Axis Education loans, which depends on your profile, your co-applicant’s profile and the property/asset, which you offer as collateral. At a high level, the following documents are needed.
Applicant’s Documents Pertaining to:
- Identity Proof
- Past Academic Record
Co-Applicant’s Documents Pertaining to:
- Identity Proof
After evaluating your profile, GyanDhan will present you with a customized documents’ list and then initiate the loan process with Axis. If some documents are missing, then we will suggest alternatives to get your loan sanctioned on time.