Guide on Axis Bank Education Loan Process

Axis Bank offers education loans with competitive interest rates, flexible repayment options, and a simple application process. Whether you are planning for higher studies in India or abroad, Axis Bank provides both secured education loans as well as unsecured abroad education loans. In the case of an education loan abroad without collateral, the amount can go up to 50 Lakhs INR while in the case of a secured education loan, the amount can go up to 85% of the collateral pledged. Now, let us understand the categories of education loans by Axis Bank.

Categories of Abroad Education Loans Offered by Axis Bank

Axis Bank categorizes foreign universities into three tiers for education loans:

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  Prime A: For master's level programs from top universities. You can get an unsecured education loan up to INR 75 lakhs.

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  Prime B: For other leading universities and international colleges, you can get an unsecured education loan of up to INR 50 lakhs.

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  Non-Prime: For all other courses and universities that do not come under the first two categories. In this category, you can get an unsecured loan on an immediate EMI basis.

Apart from these, you can get a secured education loan of up to INR 1 crore based on the collateral you pledge. Axis Bank education loan terms like interest rate, processing fee, moratorium period, repayment tenure and other terms vary depending on your CIBIL, your co-applicant's financial creditworthiness and the university ranking to which you are applying.

Overview of Axis Bank Unsecured Education Loan

The following are some of the important features and a broad overview of Axis Bank unsecured education loan:

Eligibility Criteria for Axis Bank Education Loan

Now, before you begin your Axis education loan application process, make sure you meet the eligibility criteria:

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  You must be an Indian citizen.
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  You should have secured admission to a recognized institution (India or abroad).
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  Co-applicant (parent/guardian) with a stable income is a must.
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  For unsecured loans, a strong academic and financial background of your co-applicant is required.

If you meet these requirements, then you need to prepare documents for your Axis Bank education loan process.

Documents Required for the Axis Bank Education Loan Process

Make sure you have these documents ready before you start your application process for an education loan:

Please make sure the documents uploaded are updated and accurate.

Axis Bank Education Loan Application Process

There are three ways by which you can apply for an Axis Bank education loan:

Method 1: Online Application:

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  Step 1: You need to visit the education loan page of Axis Bank here and fill out a form with your basic details for a callback request from Axis Bank.

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  Step 2: You will be connected with their loan executive who will assist you with the necessary documentation and other processes.

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  Step 3: Loan approval takes around 10-15 working days. Once your loan is approved, you will get a sanction letter, in which disbursement details will be mentioned.

Method 2: Offline Application:

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  Step 1: You need to visit the nearest Axis Bank branch.

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  Step 2: Get the application form and fill it out properly

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  Step 3: Submit the documents to the Axis Bank manager

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  Step 4: A meeting will be scheduled with the Axis Bank loan officer who will guide you further.

Method 3: Apply Through GyanDhan to Save Time, Money and Efforts:

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  Step 1: All you need to do is check your loan eligibility here.

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  Step 2: Once done, one of our education loan experts will be dedicated, who will share the document checklist with you and will guide you through the entire loan application process.

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  Step 3: Your loan application will be filed along with your documents. You can also get your application filed with other lenders.

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  Step 4: You can live track all your loan application processes on your GyanDhan dashboard and keep track of the status

Because of our extensive network and connections with top lenders in the country, you will get the lowest interest rates and best loan terms in the entire marketplace. We are here to make the entire process of education loan stress-free. Check your loan eligibility now!

Loan Approval and Disbursement Process

Once you submit your application, the following are the next steps:

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  Verification of loan application: Axis Bank verifies your documents, eligibility and other details.

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  Loan sanction letter: If your education loan is approved, you will receive a sanction letter with loan details. Please read this letter carefully as each and every terms and conditions are mentioned in this letter.

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  Agreement signing: You and your co-applicant need to sign this loan sanction letter. Please note that the sanction letter is valid for a few days, so make sure you do not miss the deadline.

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  Loan disbursement: The loan amount is transferred directly to the university as per Axis Bank policies.

Frequently Asked Questions