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Axis Bank Education Loan will fund your domestic and abroad studies at super attractive rates of interest. With education loans starting from Rs. 50,000 at low-interest rates, students now have the opportunity to conquer all their educational goals. Axis Bank Education Loan guarantees simple documentation, quick loan disbursal, tax benefit u/s 80(E), long repayment tenure and much more!

Loan Margin: NIL
Processing Fees: 0.38% to 0.75% of Loan Amount

Axis Bank is an Indian private sector bank that provides a wide variety of financial services. It was created in 1993. Education loans for students who intend to study in India or abroad are one of the services provided by Axis Bank. Ever since Axis bank education loans have made an entry into the market, their presence has marked a strong difference for students. Axis Bank offers student loans starting from Rs. 50,000 depending on the education loan amounts. Students who take up an Axis Bank Education Loan for abroad studies can profit not only from the large loan amounts and low-interest rates but also from the tax benefit of 100 per cent on the interest paid under Section 80(E) of the Income Tax Act. Axis Bank also offers government initiatives such as the Central Government Interest Subsidy Scheme (CSIS) for Economically Weaker Sections (income up to Rs. 4.5 lakhs) as a scheduled commercial bank.

Features Of Axis Bank Abroad Education Loan

Sr. NoFeaturesEducation Loan Details
1Loan amountNo Upper Limit (Collateral) Upto ₹40Lac (Without Collateral)
2Margin moneyNo margin for Prime & secured loans
3Processing fee0.38% to 0.75% +GST
4Processing time12 Working Days
5Loan tenure15 Years
6Prepayment chargesNil
7Countries coveredUSA, Canada, UK, Ireland, New Zealand, Australia, Germany and others

Benefits of Axis Bank Abroad Education Loan

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 7.5 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.
Low Tax Rate On Foreign Remittance
Axis bank provides you with low tax rate on remittance in an economic, secured, and efficient way when you transfer funds to overseas parties.

Benefits Of Getting Your Axis Bank Abroad 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 Education Loan officials and find the best solution.
Doorstep Service
With UniCreds, doorstep pickup of documents is now possible in most cities across 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.

Calculate EMI for Education Loan

Loan Amount

Interest (p.a)

Loan Duration

Course Duration

Grace Period

Monthly EMI
Principal Amount
Total Interest
Total Amount
Loan Amortization Schedule

Following table show the year wise payment schedule.

MonthOpening Balance (₹)Interest Paid (₹)Principal Repaid (₹)Closing Balance (₹)
Month
1
Opening Balance (₹)
Interest Paid (₹)
Principal Repaid (₹)
Closing Balance (₹)
Month
2
Opening Balance (₹)
Interest Paid (₹)
Principal Repaid (₹)
Closing Balance (₹)
Month
3
Opening Balance (₹)
Interest Paid (₹)
Principal Repaid (₹)
Closing Balance (₹)
Month
4
Opening Balance (₹)
Interest Paid (₹)
Principal Repaid (₹)
Closing Balance (₹)
Month
5
Opening Balance (₹)
Interest Paid (₹)
Principal Repaid (₹)
Closing Balance (₹)

Eligibility Criteria For Axis Bank Abroad Education Loan

Sr. NoTypeRequirement
1For 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.
2For 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.
3Eligible CoursesYou are eligible for an Axis Bank student loan if you are seeking admissions into the following fields of study: Medicine, Engineering, Management etc., either at the graduate or postgraduate level.
4Eligible CountriesAxis Bank offers education loans to students in nearly every major country in the world, a few of which include: 1. USA 2. UK 3. Canada 4. Australia 5. New Zealand 6. Germany

Documents Required for Axis Bank Abroad Education Loan

Sr. NoTypeDocuments Required
1For Applicants & Co-ApplicantsIf Salaried - 1. Proof of identity: Voter ID / Driving licence / Passport / PAN card / Aadhar card. 2. Proof of residence: Electricity bill / latest Telephone bill / Bank account statement / existing House lease agreement. 3. Proof of income: Latest salary slips showing all deductions or Form 16 with a recent salary certificate. 4. Bank statement/passbook of last 6 months. 5. Proof of secured admission: Admission Letter or Conditional Admission Letter. 6. Relevant mark sheets and passing certificates. Mandatory passport for the applicant (In case of abroad studies). 7. Legal documents of the collateral/ Property documents (In the case of a secured loan).
2For The First Disbursement1. For the first disbursement, a Demand Letter from the college/institute/university in which the student is studying will be required. 2. Loan agreement duly signed by the applicant and co-applicants. 3. Sanction letter signed by the applicant and co-applicants. 4. Request Form for disbursement duly signed by the applicant and co-applicants. 5. Valid receipts of the Margin Money paid to the institution/colleges/university along with the Bank 6. 6. Statement reflecting the transaction. Collateral Security documents (if applicable). 7. Form A2 duly signed by the applicant or co-applicants in case of abroad studies.
3For Subsequent Disbursements1. Disbursement request form duly signed by either the applicant or co-applicant. 2. Valid receipts of the Margin Money paid to the institution/colleges/university along with the Bank 3. 3. Statement reflecting the transaction. Exam progress report/ marksheet/ bonafide certificate. 4. Form A2 duly signed by the applicant or co-applicants in case of abroad studies.
4Other Documents1. Proof of identity: Voter ID / Driving licence / Passport / PAN card / Aadhar card. 2. Proof of residence: Electricity bill / latest Telephone bill / Bank account statement / registered and valid House lease agreement. 3. Proof of income: Last 2 years Income Tax (IT) returns and computation of last 2 years income certified by a Chartered Accountant. 4. Bank statement/passbook of last 6 months. 5. Proof of secured admission: Admission Letter or Conditional Admission Letter. 6. Relevant mark sheets and passing certificates.

Loan Repayment For Axis Bank

With an Axis Bank Education Loan, the repayment process requires you to follow a few simple steps as listed below -

1. The total loan tenure provided to applicants is 15 years.

2. All applicants are allotted a moratorium period. This period includes the entire length of the course as well as six months after completion.

3. Applicants will be obliged to begin paying their Axis bank education loan interest rate that has been accrued during the moratorium period as soon as they get their first education loan payout.

4. The EMI payment will begin after the moratorium period expires.

How To Apply For Axis Bank Abroad Education Loan?

1. After you've verified your eligibility, you can apply online or request a callback from one of our knowledgeable education loan counsellors. Depending on your needs, our skilled counsellors can help you secure an Axis Bank Education Loan without collateral or with collateral.

2. After you've provided your profile information, our staff will rigorously examine it and, based on your eligibility, propose the following steps to you.

3. UniCreds allows students to upload papers online, allowing them to avoid the trouble of presenting paperwork at the bank and instead do it from the comfort of their own homes.

4. UniCreds also provides you with a personalised list of papers that you may submit depending on your profile and the loan that you've applied for to help speed up the process.

Processing & Approval:

1. You can send your loan application and accompanying papers to Axis for assessment and real-time approval once you've uploaded/submitted the necessary documents.

2. UniCreds will keep in touch with Axis on a regular basis to check on the status of your application and ensure that it is handled as promptly as possible. Our website will keep you up to date with the latest information.

3. Applicants should be aware that the lender may contact them at this time to request further paperwork to support their loan application. UniCreds will be used to send these specs to applicants. If a demand is made that is not warranted, we shall send it to the proper Axis authority.

4. Once the documentation and application are confirmed to be free of defects or other loopholes, the loan is accepted and available for sanction.

Loan Sanction & Approval:

1. Upon your loan approval, you will be required to pay the processing costs in order to obtain the sanction letter.

2. After obtaining the sanction letter, the student and co-applicant must execute the loan agreement within the validity term of the sanction letter, which is 6 months.

3. After signing the agreement, the student is entitled to loan disbursement.

4. The lender will deposit the specified amount of money into your bank account or the university/account. If the student requires disbursement prior to the visa as per the rules of the visa office, we consult with the Axis team and get it done.

5. UniCreds will also ensure that disbursements are made on schedule, and students can get in touch with UniCreds throughout the term of the loan.

Frequently Asked Questions

What is the margin for Education Loans?
There is no margin of up to Rs. 4 lakhs for education loans. For loans above Rs. 4 Lakh, the margin is 5 percent for studies within India and 15 per cent for studies overseas.

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