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Loans

Education Loan

Fuel your dreams with financial assistance for professional or technical education in India or abroad.

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Tax Benefit Calculator

Education Loan from Axis Bank helps you to finance higher education and save tax too. The interest paid on education loan availed can be considered as a deduction from the total income U/S 80(E).The Tax Benefit Calculator given below is an illustration on the Tax Benefit U/S 80(E).

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  • Loan
  • Result
Education Loan Amount (`)
Please Enter Loan Amount
Tax Slab (%)
Rate of interest (%)
Please Enter Rate of Interest

Total Interest
Paid Per Year (A)

  • `43,000

    Total Interest Paid Per Year (A)

    This indicates the amount an individual would need to pay as interest on education loan on the loan amount indicated by you.

  • `8,850

    Tax Saved (B)

    This indicates the amount of Income Tax an individual can save by taking an education loan from Axis Bank Ltd. and availing Income Tax Benefits under Section 80E of Income Tax Act, 1961.

  • `34,142

    Effective Interest Paid (C)

    This is the difference between the total interest paid on education loan minus the tax amount saved by availing the Tax benefit under Section 80E of Income Tax Act, 1961. (C=A-B).

  • 6.83%

    Effective Rate of Interest on Education Loan

    This indicates the rate of interest that an individual will effectively pay on the education loan if an individual avails the tax benefits under Section 80E of Income Tax Act, 1961.Click here to view details of Section 80E of Income Tax Act, 1961.

Disclaimer :(i) Tax rates may vary from individual to individual and the tax benefits are subject to changes in tax laws from time to time. Please consult your tax advisor/accountant to determine your exact tax benefits. (ii) Eligibility and validity of an applicant shall be determined solely by Axis Bank. The Bank reserves the right to reject any application without assigning any reasons therefore. (iii) The eligibility of an applicant for the aforementioned tax benefits shall be determined in accordance with the provisions of Section 80E of the Income Tax Act, 1961. .... Read More

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