Axis Bank Education Loan: A Complete Guide for Students

This article provides details on Axis Bank education loans like eligibility criteria, loan terms, interest rates, documentation, and application procedures. Even if students want to advance their education, financial restrictions often stand in their way. Axis Bank study loans help fill this gap by providing financial coverage to students studying in India or overseas. The bank’s education loan is one of the most popular choices among students owing to its attractive interest rates, flexible repayment tenure, and easy application process.

What is an Education Loan?

Students can receive financial aid in the form of education loans to help pay for living expenses, books, supplies, tuition, and other educational expenditures. The majority of Indian citizens choose these financial instruments to pursue a variety of professional and educational programs to advance their careers. One of the best banks for school loans is Axis Bank. Read more about the interest rates, advantages, application process, and other details about Axis Bank education loans here.

Features and Benefits of Axis Bank Education Loan

  • Appealing interest rates
  • You might have to offer security.
  • Loans of high value are available.
  • The time of disbursement is quick.
  • A guardian may be the co-applicant.
  • The school loan might be given in full or in installments.
  • Loans for education can be utilized for a variety of courses.
  • There is no requirement to offer a margin for loans up to Rs. 4 lakh.
  • Before admission, a punishment letter might be given based on your profile.

Axis Bank Education Loan EMI Calculator

The education loan EMI calculators offered by Axis Bank and BankBazaar can be used to calculate your monthly installments. Basic data including the loan amount, length, interest rate, and processing fee are needed by the calculators. Compared to hand calculations, the results are more accurate and compute faster.

Eligibility Criteria for Axis Bank Education Loan

  • 50% in HSC is required for graduation.
  • The borrower needs to be a citizen of India.
  • Co-applicants regular income proof, such as that of their parents, siblings, or guarantors
  • HSC completion is followed by admission by an entrance exam or merit in India or outside.
  • pursued post-graduate and graduation-level career-focused courses in fields like management, engineering, medicine, etc.

EMI Payment Methods

  • Electronic Clearing Service (ECS): For non-Axis Bank account holders, the EMI amount is automatically deducted at the end of each month.
  • Post-Dated Cheques (PDCs): Only non-ECS locations will be able to receive post-dated checks from non-Axis Bank accounts, which borrowers can promptly submit to the closest loan centers.
  • Standing Instruction (SI): For current Axis Bank account holders, standing instruction is one of the appropriate payment methods for loan repayment. The EMI amount is automatically deducted from the Axis Bank account using this approach.

Documents Required for Axis Bank Education Loan

  • Guarantor form: This is an optional form.
  • Bank statement: The previous six months’ bank statement.
  • Fee schedule: The schedule for the course in which you are enrolled.
  • KYC documents: Proof of identity, proof of address, and proof of birthdate.
  • Admission letter: The letter of admission from the school in which you are enrolled.

Steps to Apply for Axis Bank Education Loan

  • Go to the official website of Axis Bank.
  • Enter your information, including your name, state, city, email address, and mobile number. You can also verify if you are already a customer. Fill out the captcha.
  • After you’ve accepted the terms and conditions, click “Submit.”
  • To help with the application process, a representative from Axis Bank will get in touch with you.

Conclusion

Axis Bank education loans provide students with a reliable financing option to study in India or abroad. Axis Bank eases the process of financing schools with competitive interest rates, flexible payback plans, and a hassle-free application process. Financial aid can be obtained by students who meet the eligibility requirements and process all required paperwork. Explore Axis Bank school loans today!

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