Higher education within your reach
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. The education loan would be provided to those students who have obtained admission to career-oriented courses e.g. medicine, engineering, management etc., either at the graduate or post-graduate level.

We believe, given the right tools and aid every child has the potential to be successful. Our education loans aim to be the very tool that will enable them to reach their goals in life. No more would a deserving student have to give away their pursuit of dreams due to lack of money. Our student loans will ensure that worthy students are empowered to take their destiny in to their own hands. Our endeavour is to help the future of our nation in education and prosperity.

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.

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.

Role of the Guardian:
The parent(s) or guardian of the student would be treated as a co-applicant of the student loan. His or her role would be, necessarily, like the primary debtor.

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 education loan amount. The policy is kept alive during the currency of the education 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.

Disbursement:
The student loan will be disbursed in full or in suitable installments taking into account the requirement of funds and/or fee schedule as assessed by the Bank directly to the educational institution or vendor of books or equipment or instruments.

Documents Required education loan India
The following documents are required along with your loan application:

Purpose	Salaried	Others
Proof of identity	Passport or Voter's ID card or driving license or PAN card or government department ID card	Passport or Voter's ID card or driving license or PAN card
Proof of income	Latest salary slip showing all deductions or Form 16 along with recent salary certificate	IT returns for the last 2 years and computation of income for the last 2 years certified by a CA
Proof of residence	Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or existing house lease agreement	Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or existing house lease agreement
Bank statement or Pass Book where salary or income is credited	Last 6 months	Last 6 months
Guarantor form	Optional Optional
Other Documents	Copy of admission letter of the Institute along with Fees schedule, mark sheets / pass certificates of S.S.C, H.S.C , Degree courses	Copy of admission letter of the Institute along with Fees schedule, mark sheets / pass certificates of S.S.C, H.S.C , Degree courses

Interest Rates & Charges of Education Loan
Education is the inevitable right of every child and we at Axis bank ensure that it is not denied due to unaffordable education loan interest rates. Our education loans are designed in a manner that is highly affordable in terms of interest and the associated servicing charges. This will ensure that you do not have to stress too much for your child’s higher education and are able to provide for all their educational needs on time.

Disclaimer:
     Since the rules, regulations, eligibility conditions, repayments and interests rates etc are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.