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| COMPARE : EDUCATION LOANS |
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| Introduction |
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| 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. |
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| Highlights |
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Study Abroad |
Study India |
| Course |
Post Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
Axis Bank's Study Power aims to provide financial support to deserving students for pursuing higher professional or technical education in India and abroad. |
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
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Min. - Rs 50000
Max. - Rs 1000000
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| Margin Money |
loans upto Rs 4 lacs: Nil
Above Rs 4 lacs : 15% for higher studies overseas.
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No margin for loans upto Rs 4 lacs. For loans above Rs 4 lacs, 5% margin for studies within India
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| Tenure |
Min. - 1 Yrs.
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Min. - 1 Yrs.
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| Interest Rate |
Upto Rs. 4 lacs - 17.00%
Loans greater than Rs. 4 lacs- Rs. 7.5 lacs - 18.00%
Loans greater than 7.5 lacs - 16.00%
0.50% concession for girl child
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Upto Rs. 4 lacs - 17.00%
Loans greater than Rs. 4 lacs- Rs. 7.5 lacs - 18.00%
Loans greater than 7.5 lacs - 16.00%
0.50% concession for girl child
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| Time to Process Loan |
7 days |
7 days |
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 Fees & charges
Fees & charges
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Study Abroad |
Study India |
| Processing Fee |
1 % |
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| Cheque Bouncing Charges |
500 Rs |
500 Rs |
| Late Payment Penalty |
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24 % |
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Eligibility Criteria
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Eligibility Criteria
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Study Abroad
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Study Abroad:
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| 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 |
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Study India
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Study India:
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| 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 |
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Security
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Security |
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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. |
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