|
|
| COMPARE : EDUCATION LOANS |
|
|
|
|
|
|
|
| Introduction |
|
| Axis Bank's Study Power aims to provide financial support to deserving students for pursuing higher professional or technical education in India and abroad. Students who have obtained admission to job-oriented courses like medicine, engineering, etc. or to graduation or post-graduation level courses are eligible for the loan. |
|
|
|
|
| Highlights |
|
| |
Study Abroad |
Study India |
| Course |
Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
The loan would be provided to students who have obtained admission to career-oriented courses eg, medicine, engineering, management etc., either at the graduate or post-graduate level. |
The loan would be provided to students who have obtained admission to career-oriented courses eg, medicine, engineering, management etc., either at the graduate or post-graduate level. |
| Loan Amount |
Min. - Rs 50000
Max. - Rs 2000000
|
Min. - Rs 50000
Max. - Rs 1000000
|
| Margin Money |
For loans upto Rs 4 lacs: Nil
For loans above Rs 4 lacs is 15%
|
No margin for loans upto Rs 4 lacs
For loans above Rs 4 lacs margin is 5%
|
| Tenure |
Min. - 1 Yrs.
Max. - 7 Yrs.
|
Min. - 1 Yrs.
Max. - 7 Yrs.
|
| Interest Rate |
Up to Rs. 4 lacs - 17.25%
Loans greater than Rs. 4 lacs and upto Rs.7.5 lacs 18.25%
Loans greater than 7.5 lacs - 16.25%
Education Loan for Girl Child
Up to Rs. 4 lacs - 16.75%
Loans greater than Rs. 4 lacs and upto Rs. 7.5 lacs -17.75%
Loans greater than 7.5 lacs - 15.75%
|
Up to Rs. 4 lacs - 17.25%
Loans greater than Rs. 4 lacs and upto Rs.7.5 lacs 18.25%
Loans greater than 7.5 lacs - 16.25%
Education Loan for Girl Child
Up to Rs. 4 lacs - 16.75%
Loans greater than Rs. 4 lacs and upto Rs. 7.5 lacs -17.75%
Loans greater than 7.5 lacs - 15.75%
|
| Time to Process Loan |
7 days |
7 days |
|
|
 Fees & charges
Fees & charges
|
|
| |
Study Abroad |
Study India |
| Cheque Bouncing Charges |
500 Rs |
500 Rs |
| Late Payment Penalty |
24 % |
24 % |
|
|
|
Eligibility Criteria
|
Eligibility Criteria
|
Study Abroad
|
Study Abroad:
|
| Age |
Min.: 16 Yrs. Max.: 30 Yrs. |
| Documents Required: |
| ID Proof |
Yes |
| Age Proof |
Yes |
| Residence Proof |
Yes |
| Income Proof |
No |
| Telephone |
Yes |
| Photograph |
Yes |
| Bank Statement |
Yes |
| Signature Proof |
Yes |
| |
Study India
|
Study India:
|
| Age |
Min.: 16 Yrs. Max.: 30 Yrs. |
| Documents Required: |
| ID Proof |
Yes |
| Age Proof |
Yes |
| Residence Proof |
Yes |
| Income Proof |
Yes |
| Telephone |
Yes |
| Photograph |
Yes |
| Bank Statement |
Yes |
| Signature Proof |
Yes |
| |
|
|
|
Security
|
Security |
|
|
Third party guarantee and/or collateral security may be asked for in appropriate cases.
Additional Security:
Assignment of LIC policy in favour of the Bank for the sum assured being at least 100% of the loan amount. The policy is kept alive during the currency of the loan. To ensure this, the annual premium may be included in the computation of the loan requirement, along with the tuition fees and other recurring charges. Further, the future income of the student needs to be assigned in favour of the Bank for meeting the installment obligations. |
|
|
|
|
|
|
Show All Education Loans
|
|
|
|
|
|
Twitter