Axis Bank Education LoanAxis Bank Education Loan

Axis Bank was established in the year 1994 as a UTI bank. It is one of the most profitable banks in India. It offers a wide range of financial services to its customers. The education loan scheme is designed for students who want to complete graduation or a post-graduation course but have a shortage of funds. Their loan schemes have affordable interest rates and are very helpful for deserving students.

Axis bank education loans have implemented for students who have chosen career-oriented courses like medicine, management, or engineering. They also provide interest subsidy on selected loans for courses in India.

The education Loan amount can be used for covering all aspects of needs that a student might have. These include purchase of books, uniform, stationery, laptops, tablets (as per the demand of the course), Examination, library and hostel fees, Travel expenses/ passage money for studies abroad, Additional costs deemed necessary for the completion of the course.

Table of Contents:

Axis Bank Education Loan Eligibility

Axis Bank educational loan eligibility is given to the students who have chosen to study a career-oriented course such as medicine, management, or engineering.

Age Limit

  • 35 years for an unemployed person
  • 45 years for working person

Who can apply for Axis Bank Educational loan?

  • A student must have Indian citizenship
  • The student who has secured admission in recognized institutions
  • Permanent employees who are employed for not less than three years with any organisation and who intend to acquire higher professional qualifications and have secured admissions in a reputed institute
  • The students should have completed 10+2 with an aggregate of at least 50% during HSC and Graduation.
  • For students who are applying for loans at the Post-Graduate level, should have completed graduation and HSC with securing at least 55%.
  • Only the students who have already secured admission in a university abroad can apply for loans for abroad studies. Students can avail up to Rs. 7,500,000 for study abroad.

Documents Required for Education Loan in Axis Bank

Below mentioned are the documents required for the education loan in Axis Bank

  • Identity Proof- Government Department ID Card/ PAN Card/ Driving License/ Passport
  • The latest paycheck or the Form 16 supported by the recent salary certificate is a must.

  • Address Proof- Permanent Residence Lease agreement if any of the recent utility bills such as electricity bill and telephone bill or a bank account statement.

  • The PassBook or the Bank Statement of the past 6 months.

  • A guarantor form is optional.

  • The applicant should produce the admission of the Institute accompanied by the schedule of the fees.

  • If the applicant has done a degree in HSC or SSC, then the mark sheet and pass certificate should be produced.

Documents Required for Education Loan for Other Induvial

  • Identity Proof- Government Department ID Card/ PAN Card/ Driving License/ Passport

  • A certificate of computation of income from a Chartered Accountant and the Income Tax returns of the past 2 years should be produced.

  • Address Proof- Permanent Residence Lease agreement if any of the recent utility bills such as electricity bill and telephone bill or a bank account statement.

  • The PassBook or the Bank Statement from the past 6 months.

  • A guarantor form is optional.

  • The applicant should produce the admission of the Institute accompanied by the schedule of the fees.

  • If the applicant has done a degree in HSC or SSC, then the mark sheet and pass certificate should be produced.

Documents Required for the first disbursement of the loan

  • The Demand Letter with a seal from the college or university.

  • The Loan agreement is to be signed by the applicant and the Co-applicants.

  • The Sanction Letter which is signed by the applicant and the Co-applicants.

  • A Disbursement request form that has been signed by the applicant and the Co-applicants.

  • The Receipts of Margin money paid to the college or the university along with bank statement reflecting the transaction should be produced.

  • The documents that contain the details of collateral security should also be produced.

  • In the case of abroad studies, Form A2 signed by applicant or Co-applicants should be given as well.

Documents Required for the subsequent disbursement

  • Demand Letter issued by college or university

  • Disbursement request form signed by the applicant and Co-applicants.

  • Receipts of Margin money paid to the college/university along with bank statement showing the successful transaction

  • Exam Progress Report/Marksheet/Bonafide Certificate

  • Form A2 signed by applicant or Co-applicants in case of abroad Institute.

Axis Bank Education Loan Interest Rate

Axis bank education loan interest rate differs from one person to another person. The interest loan is based on the loan that people borrowed from the bank

  • The maximum amount of loan that can be borrowed is Rs. 75 Lacs.

  • The interest Rate Slabs for the Loans are as follows:

Axis Bank Education Loan Interest Rate
Max Loan Amount Rs. 75 Lakh Rs. 75 Lakh Rs. 75 Lakh
Interest Rates      
Loans upto Rs. 4 lakh 15.20 % , for Girls - 14.95% 15.20 % , for Girls - 14.95% 15.20 % , for Girls - 14.95%
Loans Rs. 4.0 - 7.5 lakh 14.70 % , for Girls - 14.45% 14.70 % , for Girls - 14.45% 14.70 % , for Girls - 14.45%
Loans > Rs. 7.5 lakh 13.70 % , for Girls - 13.45% 13.70 % , for Girls - 13.45% 13.70 % , for Girls - 13.45%
Margin requirement (own contribution by student/ family)      
Loans up to Rs. 4 lakh 100% 100% 100%
Loans above Rs. 4 lakh 95% 85% 95%
Max Tenure Post Moratorium      
Loans up to Rs. 7.5 lakh 7 years 7 years 7 years
Loans above Rs. 7.5 lakh 7 years 7 years 7 years
Co-Applicant required (Y/N) Yes Yes Yes
Third Party Guarantee      
Loans up to Rs. 4 lakh Case to case Case to case Case to case
Loans Rs. 4.0 - 7.5 lakh Case to case Case to case Case to case
Loans > Rs. 7.5 lakh Case to case Case to case Case to case
Collateral Security (Fixed deposit/ Property, LIC)      
Loans up to Rs. 4 lakh Case to case Case to case Case to case
Loans Rs. 4.0 - 7.5 lakh Case to case Case to case Case to case
Loans > Rs. 7.5 lakh Case to case Case to case Case to case
Prepayment Charges (Y/N) Nil Nil Nil
Moratorium Period (lower of the two)      
After the course period 12 months 12 months 12 months
After getting a job 6 months 6 months 6 months

Axis Bank Education Loan Repayment Period

Below mentioned is the Axis bank education loan repayment period

  • It can be paid Quarterly or monthly basis.

  • Repayment in Education Loans generally starts 1 year after completion of the course or six months after getting a job, whichever is earlier.

  • Loan interest re‚Äźpayment will start immediately after disbursement of the first instalment of the loan.

  • Tenure of an Education Loan includes Duration of Study, Grace Period after the Study and Repayment Period.

  • For the Indian courses, repayment tenure is of maximum 7 years after the repayment starts.

  • For Abroad courses repayment tenure is a maximum of 7 years after the initiation of repayment.

Axis Bank Education Loan Scheme for Subsidy

Axis bank education loan scheme under which a full subsidy on the interest will be given during the moratorium period that is inclusive of the Course Period. The main aim of the scheme is to support the students belonging to the Economic Weaker Section (EWS) so that they will be able to complete their higher studies.

Features of this Scheme

  • The interest subsidy will be available for the eligible students only once. Graduation level courses and Post-Graduation Courses which are career-oriented and are from recognized institutions will be considered eligible. Integrated courses where the graduation and post-graduation will be done simultaneously will also be considered.

  • Under the following conditions, the interest subsidy will be discontinued:

    • Applicants who discontinue the course mid-stream

    • The students who are expelled based on their academic performance or disciplinary grounds.

    • In the case of a medical emergency, the records and receipts should be produced otherwise subsidy on interest will not be given.

  • State Government has designated appropriate authority or authorities who are competent to issue Income certificate, based on the economic index and not social background, for the purpose of this scheme

  • The interest charged on these loans will be according to Education Loan Scheme of the bank.

Documents Required for subsidy

  • Income Certificate issued by authority/authorities assigned by respective State Government

  • Bonafide Certificate or the study certificate of the student.

  • If the student is qualifying for the subsidy scheme, the Interest Subsidy Agreement, Letter of undertaking cum Declaration needs to be signed by the borrowers. 



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Rutuja Ghandure

Sir I want education loan for further medical study can I get the loan plz do rply

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