Axis Bank provides Education Loans for students looking to pursue higher education in India or abroad, at attractive interest rates. Find out the interest rates for the Education Loans you wish to avail, below.
| Loan Type |
Loan Amount (Rs.) |
Effective ROI |
| Education Loan |
Up to 4 Lakhs |
15.2% |
| Loans greater than Rs. 4 Lakhs and up to Rs. 7.5 Lakhs |
14.7% |
| Loans greater than 7.5 Lakhs |
13.7% |
Marginal Cost Based Lending Rate (MCLR) – 8.8%
MCLR Reset frequency for Education Loans - Half Yearly
Customers who have availed disbursement / have received a sanction prior to March 31, 2016 will continue to operate on base rate. Existing customers can get in touch with our customer care, if they wish to switch to MCLR.
| Schedule of Charges |
|---|
| Scheme |
Study Power |
| Loan Processing Charges |
Applicable as per grid given below |
| Prepayment Charges |
Nil
|
| No Due Certificate |
NA |
| Solvency Certificate |
NA |
| Penal Interest on delayed / overdue EMI |
@24% per annum i.e. @ 2% per month on the overdue installment(s) |
| Charges for changing from fixed to floating rates of interest |
NA |
| Charges for changing from floating to fixed rates of interest |
NA |
Education Loan Charges ( Applicable from 10th Jan 2019 )
Fulfil your dreams of higher education with easy and hassle-free Education Loans at attractive interest rates from Axis Bank. Processing fee is as given below-
| Country |
Loan Slab |
Flat Fee |
| Abroad |
Upto 20 lacs |
15000 +GST (Refundable fee) |
| Domestic |
Upto 10 lacs |
NIL |
For higher loan amounts -
| Country |
Loan Slab |
Flat Fee |
| Abroad |
Above 20 lacs |
0.75% of differential loan amount above 20 lacs + GST ( Non–Refundable fee ) |
Domestic
(Only secured) |
Above 10 lacs |
5000 + GST ( Non–Refundable fee) |
W.E.F 1st July 2017
Goods and Services Tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
For further details, please click here
