Are you in search of an Education Loans for yourself or your dependent? Axis Bank is your go-to destination. We offer Education Loans for students aiming to pursue advanced studies, both within India and overseas, at competitive interest rates. With our Education Loans, you can secure up to ₹75 Lakhs, benefit from fast loan disbursement, and enjoy convenient repayment options for a smooth loan experience. Check out our Student Loan/Education Loan interest rates below.
Loan Type |
Loan Amount (Rs.) |
Repo Rate |
Spread |
Effective ROI( Linked to Repo Rate ) |
Education Loan |
Up to 4 Lakhs |
6.50% |
8.70% |
15.20% |
Loans greater than Rs. 4 Lakhs and up to Rs. 7.5 Lakhs |
6.50% |
8.20% |
14.70% |
Loans greater than Rs. 7.5 Lakhs |
6.50% |
7.20% |
13.70% |
- Current Repo Rate: 6.50%
- Frequency of Repo Rate Reset: Every 3 months or as determined by the bank, whichever comes first.
- The bank reserves the right to set the margin over the Repo Rate.
- This margin may change during the loan's duration.
- Customers who took out loans or received approval before October 1, 2019, will continue under the MCLR system. Existing customers interested in switching to the Repo Rate system should contact our customer service.
For MCLR-based loans:
- Marginal Cost Based Lending Rate (MCLR): 9.15%
- MCLR Reset Interval for Education Loans: Every Six Months.
Schedule of Charges |
Scheme |
Study Power |
Loan Processing Charges |
Applicable as per grid given below |
Prepayment Charges |
Nil
|
No Due Certificate |
NA |
Penal Interest on delayed / overdue EMI |
@24% per annum i.e. @ 2% per month on the overdue installment(s) |
Cheque/ Instrument Swap Charges |
Rs. 500/- + GST per instance |
Duplicate Statement Issuance Charges |
Rs. 250/- + GST per instance |
Duplicate Amortization Schedule Issuance Charges |
Rs. 250/- + GST per instance |
Duplicate Interest Certificate (Provisional/Actual) Issuance Charges |
Rs. 50/- + GST per instance |
Cheque/Instrument Return Charges |
Rs.339/- + GST per instance |
Conversion charges for switching from Floating to Fixed and Vice-versa |
1% of the outstanding principal with a minimum of Rs.5000/- + applicable GST |
Education Loan Charges ( Applicable from 1st August, 2022 )
Processing fees up to 2% of the loan amount + GST
W.E.F 1st August, 2022
Goods and Services Tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
For further details, please click here For Education Loan Charges