Axis bank

Axis bank

Overview

Axis Bank's Study Power aims to provide financial support to deserving students for pursuing higher professional or technical education in India or 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 Feature

Loan Amount Rs 10 lacs for studies in India and Rs 20 lacs for studies abroad, which would cover tuition fees, hostel charges (if any), cost of books, etc. The minimum amount of loan would be Rs 50,000.
Interest Rate 16% to 18% (0.5% relaxation for girl child)
Tenure Information not available
Pre Payment Charges No Prepayment charges to be levied on the outstanding loan amount.
Service Charges

Nil

Eligibility Criteria : Education Loan

  Salaried Self
Age No Age Criteria Provided No Age Criteria Provided
Income Income Criteria Not Available Income Criteria Not Available
Job Experience Information not available Information not available
Residence Proof Information Not Available Information Not Available

Docs Required : Education Loan

  Salaried Self
ID Proof Passport/Voters ID card/Driving Licence/Copy of PAN Card/Govt ID Card Passport/Voters ID card/Driving Licence/Copy of PAN Card
Address Proof Ration Card/Passport/Latest Electricity bill/ Latest telephone bill/Latest credit card bill bank statements/Last 6 months bank statements/Existing House Lease agreement Ration Card/Passport/Latest Electricity bill/ Latest telephone bill/Latest credit card bill bank statements/Last 6 months bank statements/Existing House Lease agreement
DOB Proof Information not available Information Not Available
Financial Docs

Salaried Individual:

  • Bank Statements or passbook for last 6 months where salary is credited.
  • Latest salary slip showing all deductions or Form 16 along with recent salary certificate
  • Copy of admission letter of the Institute along with Fees schedule, mark sheets/pass certificates of S.S.C, H.S.C , Degree courses
  • Photographs of both the co applicant and the student

Self Employed:

  • Bank Statement or passbook for last 6 months
  • ITR/valid Income documents certified by CA.
  • Copy of admission letter of the Institute along with Fees schedule, mark sheets/pass certificates of S.S.C, H.S.C , Degree courses
  • Photographs of both the co applicant and the student

Other Charges : Education Loan

Charges for Late Payment of EMI: Rs 500 + taxes per cheque bounce and a penal interest @ 2% per month on the overdue installment/s

Products offered by Axis bank

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Testimonial

After getting rejected for a home loan by two banks I thought my wish of owning a home in a city like Mumbai will remain a dream. By chance I came to your site and applied for the loan.

What happened then was a smooth process. It's been my good luck to visit your site and get loan for my dream home.

Thanks

- Deepak Gupta

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