If you are looking for an Education Loans for yourself or your ward, you have come to the right place. Axis Bank provides Education Loans for students looking to pursue higher education in India or abroad, at attractive interest rates. With an Axis Bank Education Loan, you can avail a loan amount upto Rs. 75 Lakhs along with speedy disbursals and easy repayment options for effective loan servicing. Find out the student loans/education loans interest rates you wish to avail, 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% |
- Repo Rate 6.50%
- Repo Rate Reset frequency - 3 months or as decided by the bank, whichever is earlier.
- The Bank is free to decide the spread over the Repo Rate. The spread may undergo a change during the tenure of the loan.
- Customers who have already availed disbursement or received a sanction prior to October 1, 2019 will continue to operate on MCLR. Existing customers can get in touch with our customer care, if they wish to switch to Repo Rate.
For loans on MCLR
- Marginal Cost Based Lending Rate (MCLR) – 8.70%
- MCLR Reset frequency for Education Loans - Half Yearly
| 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 |
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
