Axis Bank does have an early repayment option for education loans. Repaying the loan before the scheduled tenure can help students save on interest payments.
Axis Bank Abroad Education Loan
Bank
Upto 7-10 days Loan Processing Time
Margin
15%
Processing Fees
0.75% + GST
Collateral
Upto ₹1 crore
Non-Collateral
Upto ₹50 lakhs
Repayment Tenure
Upto 15 years
Cosigner Needed
Yes
Interest Rate
Starting from 10.50%*
Countries covered
USA, UK, Australia, Canada, and many more
Features of Axis Bank
Education Loan Abroad
Axis Bank’s education loan aims to provide much-needed financial support to deserving students wishing to pursue higher professional or technical education in India and abroad. The education loan is offered to those students who have obtained admission to career-oriented courses like engineering, management, medicine, etc, either at the graduate or post-graduate level.
Axis Bank believes in a student’s potential and right to quality education, and hence, offers 100% coverage of educational expenses, including course fees, living expenses and travel costs. Axis Bank also offers income tax advantages under Section 80E of the Income Tax Act.
| Features | Education Loan Details |
|---|---|
| Loan amount | Upto ₹1 crore (Collateral) Upto ₹50 lakhs (Non-Collateral) |
| Margin money | 15% |
| Interest rate | Starting from 10.50%* |
| Processing fee | 0.75% + GST |
| Processing time | 7-10 days |
| Loan tenure | Upto 15 years |
| Prepayment charges | NIL |
| Countries covered | Axis Bank provides overseas education loans in numerous countries including USA, UK, Australia, Canada, Germany, Ireland, New Zealand, and many more. |
| Moratorium | Study period - 6 Months |
Benefits of Axis Bank Education Loan
Access to 100% Loan Financing
At Axis Bank, you can obtain an education loan starting from as low as Rs. 50,000, and there is no upper limit on student loans in India and abroad. They provide financing for upto 100% of the total cost of education.
Financing for Living Expenses
As students, when you are not earning an income, you still have various living expenses, including travel, food and accommodation. Axis Bank offers to cover all the expenses incurred while you are studying at your dream university.
Quick Disbursal of Loans
Once your education loan is approved, the funds are transferred within two days. Moreover, Axis Bank allows for loan customisation if you require emergency funds for your education expenses.
Pre-Admission Sanction Letter
Axis Bank provides a provisional loan sanction letter even before you secure admission to a university. This sanction letter serves as proof of financial support during the application process and can also be used for visa applications.
How To Apply For Axis Bank
Education Loan For Abroad Studies?
You can apply for an Axis Bank Education Loan by connecting with our team of experts. Just fill out the form on our website, and we will schedule a callback and guide you through the process.
From helping you upload documents online to presenting them to the banks, Lorien Finance will help you throughout the application process.
Once all your documents are uploaded & KYC process is complete, you can expect your loan to get sanctioned within a few working days.
Why choose Lorien Finance to get an Education Loan from Axis Bank?
Best loans at unbeatable interest rates: Lorien Finance strives to bring you the best possible deals for your study abroad loans. Our experts negotiate on your behalf to get education loans at the lowest possible interest rates.
Effortless Process: All you need to do is fill out the form on Lorien Finance’s website. Yes, it’s that simple! Our team will take it up from there, making it a hassle-free process for you.
100% Free Assistance: Lorien doesn’t charge any processing fee or commission for student loans for your study abroad journey!
Quicker Loans: With constant application tracking and status updates, our experts ensure that your education loan for studying abroad gets sanctioned as early as possible.
Higher chances of approval: In case of any missing documents or other issues, Lorien’s team promptly reaches out to the bank to find solutions to increase your chances of getting a study loan for your overseas education.
Helping you fulfil your study abroad dream!
Fill out the form so our team can get in touch with you!
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Eligibility Criteria For Axis Bank Education Loan Abroad
For the borrower:
- Must be an Indian citizen
- Must have a minimum score of 50% in HSC and graduation
- Must secure admission to career-oriented courses like engineering, management, medicine, etc, either at the graduate or post graduate level
- Must secure admission based on entrance exams or merit-based selection process after completing HSC
For the co-applicant:
- Can be the student’s spouse, parents, siblings or parent-in-law
- Must provide proof of regular income
For the borrower:
- Duly filled and signed application form
- Copy of admission letter of the Institute
- 10th and 12th mark sheet or latest education certificates
- Statement of course expenses
- Aadhar card and PAN Card
- Residence proof
- Entrance Exam score (CAT, CET, GRE, GMAT, IELTS, TOEFL)
- Two photographs
For the co-applicant:
- Recent salary slips
- Six months’ bank statement
- Updated ITR of two years
- Documents stating the assets and liabilities
Documents Required
FAQs
Bringing answers to your questions
Can I repay the Axis Bank education loan early?
How much loan does Axis Bank provide?
Axis Bank extends comprehensive education loans that cover up to 100% of your educational expenses, encompassing tuition fees, living expenses and refundable deposits. With Lorien Finance by your side, our dedicated team ensures you secure the optimal loan amount at the most favourable interest rates, customised to meet your needs and aspirations.
Is collateral required for Axis Bank?
Axis Bank does not require collateral for education loans upto Rs. 50 lakhs. Meritorious students can avail unsecured loans, making it a more accessible financing option for pursuing higher education in select colleges in India and abroad.
How long does Axis Bank take to disburse an education loan for studying abroad?
Once your application is approved, the funds are disbursed within two business days, ensuring a swift transition into your educational journey.
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