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Axis Bank - Education Loan

PRIVATE BANKS

No collateral needed

Loan Margin : NIL

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7 days avg loan processing time

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Margin

NIL

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Collateral

No

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Loan Tenure

Upto 15 Years

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Processing fee

0.5% to 1.0%

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Early Repayment

Yes

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Living Cost

No

Secured Loan

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Amount

Up To 3Cr

Un-Secured Loan

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Amount

Up To 75Lac

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UniCreds Guarantee

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Quick Loan Sanctions

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100% Transparency

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No Hidden Fees

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24x7 Support

Features Of Axis Bank Abroad Education Loan

Axis Bank has been fulfilling the dreams of higher education of thousands of satisfied students for years now and is one of the biggest education loan lenders in the private banking industry.

Our education loan product is designed keeping in mind simple documentation, hassle-free processing and longer repayment tenure which will ensure to meet every need of the student.

Education loan for higher studies (UG/PG) in more than 2000 universities spread across 30 countries:

  • Unsecured loans upto 75L to premier universities and institutes.
  • Unsecured loans upto 50L on the basis of co-applicant profile for both UG/PG courses.
  • Unsecured loans upto 50L before admission on the basis of GRE-score.
  • Unsecured loans upto 40L to working professionals for online and part-time executive courses.
  • 100% funding of total fees available.
  • Pre-Visa Disbursement facility available.
  • Moratorium period available of upto course period + 6 months.
  • Longer repayment tenure of upto 15 years.
  • Tax benefit under sec-80(E) on annual interest paid.
  • Refinance option available during course period for fees already paid.
  • No prepayment or foreclosure charges.
  • Attractive interest rates.
  • Lowest processing fees in the industry.
  • Balance Transfer of existing education loan at attractive rates.
  • Door-step hassle-free efficient service.
     
FeaturesEducation Loan Details
Loan amountUpto ₹3Cr (Collateral) Upto ₹75Lac (Without Collateral)
Margin moneyNo margin for Prime & secured loans
Interest rateAxis Bank Education Loan Interest rate. 9.75% to 12.25%
Processing fee0.5% to 1.0% + GST
Processing time7 Days 5-7 working days
Loan tenure15 Years
Prepayment chargesNil
Countries coveredUSA, Canada, UK, Ireland, New Zealand, Australia, Germany and others

Looking forSparkLogoFaster and
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100% Transparency

100% Free

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Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.

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Axis Bank Abroad Education Loan Eligibility

Axis Bank offers Education Loans to students studying in India and abroad. You can receive a loan starting at Rs. 50,000 with reasonable interest rates and features like no pre-payment penalties and no pre-closure penalties. Learn about the education loan eligibility requirements for an Axis Bank Abroad Education Loan.

The Education Loan will be provided to those students who have the following

  • Indian Nationality
  • Attained at least 50% in HSC and Graduation
  • Who have been admitted to career-oriented courses, such as medicine, engineering, and management, at the graduate or post-graduate level
  • After completing HSC (10+2); was able to gain admission in India or abroad through an entrance test / merit-based selection process.
  • Documents demonstrating regular income are required for the co-applicant (parents/siblings/guarantor).
TypeRequirement
For The Applicant1. Applicants can be an Indian citizen or an NRI, but the co-applicant must be an Indian citizen. 2. Admit Letter or validity GRE score is required (we can proceed with valid GRE even if admit is awaited) 3. Must have secured at least 50% in Higher Secondary and Graduation.
For The Co-Applicant1. Co-applicant's CIBIL score should be greater than 700. 2. University or college should be in the bank's categorical list of educational institutions. 3. Co-applicant's salary should be sufficient to pay simple interest during the moratorium period. 4. Co-applicant must have either 3 years of ITR or 2 years of Form-16.
Eligible CoursesYou are eligible for an Axis student loan if you are seeking admissions into the following fields of study: Medicine, Engineering, Management etc., either at the graduate or postgraduate level.
Eligible CountriesAxis Bank provides education loans to students who are looking to pursue full-time courses from top colleges and universities in popular study-abroad countries such as - 1. The USA 2. The UK 3. Germany 4. France 5. Canada 6. Australia 7. New Zealand

Benefits Of Getting Your Axis Bank Abroad Education Loan Through UniCreds

Flexible Loan Amounts
Axis Bank offers education loans for sums as low as INR 50000, with no upper limit and paying up to 100% of the total cost of education (including of course fees, living & traveling expenses). Depending on the individual's needs and qualifications.
Quick & Easy Disbursements
Your education loan can be released in as little as two days after it has been approved, and it can also be customised to credit subsequent advances as necessary by your selected institute
Pre-Admissions Sanction
This is a letter of preliminary approval issued to a borrower before they are accepted into a university. This letter can be used to demonstrate financial assistance throughout the admissions process and, in some cases, the visa application process. After receiving their GRE scores, students can apply for a pre-admission sanction letter.
Options For Refinancing With Axis Bank Education Loan
You can also have any previous installments made toward the course refinanced if the financing is approved.
Without Collateral
A loan of up to Rs 75 lakh usually does not require collateral. If you are accepted into a reputable institution, such as one of the IIM or a high ranking university, banks may not need collateral even for larger loans. If the collateral is required, it might take the form of property, a fixed deposit, or a combination of the two. Axis Bank also accepts commercial property.

The following are the major characteristics and benefits of Axis abroad education loan:

  • Tax benefit on interest paid.
  • TCS applicable only 0.5% compared to 5% if fees paid from own funds.
  • Proof of funds to secure admission.
  • Availability of funds in case of emergency.
  • Maintain positive credit history by paying timely EMIs.
  • Invest and earn through your savings.
  • Cover wide range of expenses like travel & living expenses, insurance premiums, purchase of equipment etc. required to finish education.



  

Benefits Of Getting Your Education Loan Through UniCreds

Higher Chance Of Approval
By applying for your education loan through UniCreds, you are increasing your chances of approval. Generally, banks dismiss applications if they find any missing documents, property issues, or any other problem. With UniCreds, we will immediately reach out to Axis Bank Abroad Education Loan officials and find the best solution.
Doorstep Service
With UniCreds, doorstep pickup of documents is now possible PAN India.
No Cost To You
All our education loan services are completely free of cost.
Quicker Sanctions
Our strategic partnerships ensure low turnaround time. Expect to have your education loan processed and sanctioned within 7 days.

Get Guidance at every step of your loan application

We ensure 100% transparency throughout the education loan process.Our education loan counsellors will stay by your side every step of the way.

Need Guidance Faster? Call us at:

phone

18001217661

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Need Guidance Faster? Call us at:

phone

18001217661

How to apply for Axis Bank Study Abroad Loan

  1. Once you've established your eligibility, you can submit an online application or get in touch with one of our expert education loan counsellors to schedule a callback. Our counsellors can assist you in obtaining an Axis Abroad Education Loan without collateral or with one, depending on your needs.
  2. After you've submitted your profile information, our specialists will carefully review it and, based on your eligibility, recommend the following course of action to you.
  3. In addition, UniCreds gives you a customised set of documents to submit based on your profile and the loan you've applied for to speed up the process.

Looking forSparkLogoFaster and
streamlined Process?

100% Transparency

100% Free

unicreds

Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.

unicreds-scholar-girl

Documents Required for an Abroad Education Loan By Axis Bank

Axis Bank Education Loans assist you in financing your tuition expenses, accommodation fees, study materials, and so on. Once you have submitted your application and all relevant documents, the bank will provide you with a loan quickly and easily. Learn about the documents needed for Axis Bank Education Loan below:

TypeDocuments Required
For BorrowersSTUDENT: 1. Pan Card 2. Aadhar Card 3. Passport 4. University Admission Letter 5. Entrance Score Card - GRE/ GMAT/ TOEFL/ IELTS, etc. 6. Academic: 10th, 12th & Degree - All semester Individual Marksheets 7. Resume 8. Name, Address, Contact and Email ID of 2 References (Friends/ Family/ Neighbors) 9. 3 months Salary slips (If Applicable) 10. 6 months Bank Statements (If Applicable) 11. Form 16 / ITR (If Applicable) MOTHER & FATHER (BOTH COMPULSORY): 1. Pan Card 2. Aadhar Card 3. Mobile Number & Email ID
Co-SignerCO-SIGNER (Salaried-Job): 1. PAN Card & Aadhar card 2. Latest 3 months salary slips 3. Latest 1 Year Salary Credited Bank Statements 4. Latest 2 Years Form 16 5. Electricity Bill 6. Mobile Number & Email ID IF CO-SIGNER (Self Employed/Business): 1. PAN Card & Aadhar card 2. Latest 2 year ITR with Computation income, Profit & Loss and Balance sheet 3. Business proof (GST, UDHYAM ADHAR, and GUMASTA) 4. Latest 1 Year Bank Statement (Income Credited) 5. Electricity Bill 6. Mobile Number & Email ID
Collateral LoanCollateral Documents: 1. Registered Sale Agreement (All chains) 2. Share Certificate 3. All Property Related Documents- e.g- Sanction Plan, Tax paid Receipt 4. NA conversion certificate in case of Plot. 5. OC/CC and Approved Building Plan. 6. 7/12 Extract 7. Society NOC 8. Any other Documents associated with Property

Education Loan Repayment for Axis Bank

When it comes to Axis Bank Student loans for abroad; loan repayment is an essential phase in the loan borrowing process. When attempting to lower the entire loan responsibility and interest payment, it must be treated seriously. Axis Bank Student loan repayment period must be regularly checked because it affects a borrower's credit history. In terms of financial consequences, failing to repay a loan on time might result in increased interest components or, in some situations, the declaration of bankruptcy. A borrower's loan repayment track record is reflected in credit history as a long-term effect on credit health.

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The displayed EMI amount is approximate & is subject to change based on various factors.

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Monthly EMI
0
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Principal Amount
1,600,000
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Total Interest
0
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Total Amount
0
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Frequently Asked Questions

You can borrow up to ₹75 lakh from Axis Bank education loans without collateral.
An Axis education loan has a term of up to 20 years.
Living expenses are paid into the applicant's account, while tuition payments are paid into the university's account.
The student applicant's parents or guardians will be recognised as a co-applicant and major debtor.
Depending on the need for money or fees, the student loan will either be disbursed in full or in a sufficient number of instalments. The merchant or the educational institution will get direct payment.