Axis Bank Students Personal Loan

Axis Bank provides education loans to students, with the minimum loan amount starting at Rs. 50,000. These loans are designed to cover a variety of education-related expenses, such as tuition fees, hostel charges, and the cost of books for students. To be eligible, the applicant must be an Indian citizen. The interest rates for these loans are linked to the repo rate and vary based on the loan amount. Notably, girl students receive a 0.50% concession on the interest rate. Additionally, these loans come with the advantage of having no pre-payment or pre-closure charges. Axis Bank also caters to students aspiring to study abroad, offering loans up to INR 40 lakhs for specific high-ranking courses without requiring collateral. These offerings make Axis Bank a viable option for students seeking financial support for their education. 

Axis Bank Personal Loan for Students Highlights

Here are the basic highlights of Axis Bank Personal Loan for students. 

Comparing Axis Bank Student Personal Loans with Other Banks and NBFCs 

Here is a quick comparison of Axis Bank Student Personal Loans with other banks. 

Axis Bank Education Personal Loan – Fees & Charges 

The Axis Bank Education Personal Loan charges are as follows: 

• Qualification Requirements: Applicants must have confirmed enrollment
• Maximum Loan Value: Can extend to 75 Lakhs
• Rate of Interest: Ranges between 10.5% and 15%
• Fee for Processing: Accounts for 1% to 2% of the total loan sum

Axis Bank Education Personal Loan Documents

The following documents are required for the Axis Bank Education Personal Loan. 

• Acceptance Letter from the Educational Institution
• Completed Application Form for the Loan
• Two recent passport-sized photographs
• A detailed cost breakdown for the educational programme
• PAN Card details of both the student and the Parent or Guardian
• AADHAR Card information for the student and Parent or Guardian
• Valid identification document (such as Driving License, Passport, Aadhar, or any other photo ID)
• Address proof (could be Driving License, Passport, Utility bill, Telephone bill)
• Bank statements for the past six months from the Student, Co-borrower, or Guarantor
• Income Tax returns or assessment orders for the past two years for the Parent, Guardian, or Co-borrower if they are income taxpayers
• Comprehensive list of assets and liabilities of the Parent, Guardian, or Co-borrower
• Evidence of earnings like recent pay slips or Form 16 for the Parent, Guardian, or Co-borrower

Axis Bank Education Personal Loan Eligibility

The eligibility criteria for the Axis Bank Education Personal Loan are as follows: 

• The student should be an Indian citizen
• He or she must have secured at least 50% during HSC and graduation
• Students who have obtained admission to courses such as Medicine, Engineering, Management, etc 
• Students who have secured admission in India or Abroad through an entrance test/merit-based selection process after completing 10+2
• Documents showcasing regular income are mandatory for the parent/guardian