Axis Bank provides Education Loans for students who wish to pursue career-oriented courses such as medicine, engineering, management, etc. either at the graduate or post-graduate level. You can apply for an education loan starting from Rs. 50,000 upto Rs. 75 Lakhs at attractive interest rates. Before you apply for the Education Loan make sure to read the Education Loan FAQs.
The maximum education loan amount for higher education is Rs. 75 lakhs. The quantum of education loan depends on the case.
The Bank will convey its decision within 15 working days from the date of receipt of the education loan application, provided the application is complete in all respects.
There is no margin for education loans upto Rs. 4 Lakhs. For loans above Rs. 4 Lakh, the margin for studies within India is 5% and for studies overseas is 15%.
The parent(s) or guardian of the student would be treated as a co-applicant of the student loan. His or her role would be, necessarily, like the primary debtor.
Rs 500 + taxes per cheque bounce and a penal interest @24% per annum i.e. @ 2% per month on the overdue installment/s.