Educational Loan In India

I want to apply for Education Loan in Axis Bank, India so can you please provide me the details of this loan?

Axis Bank Limited is the third largest private sector bank in India. The bank was established in 1990. Axis Bank's stake holders include prominent national and international entities.
Axis Bank has its registered office at Ahmedabad.

Education Loan

Axis Bank's Education Loan aims to provide the much needed financial support to deserving students for pursuing higher professional or technical education in India and abroad.

Quantum of Loan-

The quantum of finance under the scheme is capped at Rs 10.00* lacs for studies in India and Rs 20.00* lacs for studies abroad, which would cover tuition fees, hostel charges (if any), cost of books, etc.

The minimum amount of education loan would be Rs 50,000.

The Quantum of Loan can be Higher amounts above these caps subject to eligibility and cost, for case-to-case approval.

Margin-

No margin for education loans upto Rs 4 lacs.

For loans above Rs 4 lacs, 5% margin for studies within India and 15% for higher studies overseas.

Interest rate-

Loan Amount (Rs) Base Rate Mark Up Effective ROI (p.a.)

Education Loan

Upto Rs 4 lakhs 9.50% 7.00% 16.50%

Loans greater than Rs. 4 lacs and upto

Rs. 7.5 lac 9.50% 8.00% 17.50%

Loans greater than 7.5 lacs 9.50% 6.00% 15.50%

Education Loan for Girl Child

Upto Rs 4 lakhs 9.50% 6.50% 16.00%
Loans greater than Rs. 4 lacs and upto
Rs. 7.5 lac 9.50% 7.50% 17.00%
Loans greater than 7.5 lacs 9.50% 5.50% 15.00%

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Answered By StudyChaCha Member