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Axis Bank Prime Abroad Education Loan

Product Details
बैंक का नाम

Axis Bank

Maximum Loan Tenure

15 Years

अधिकतम ऋण राशि

Unsecured Loan upto INR 50 Lakhs

ब्याज दर

Loan upto 4 Lakh: 15.20%. Loan between 4 lakh and 7.5 Lakh: 14.70%. Loans greater than INR 7.5 Lakh: 13.70%

शिक्षा ऋण का उद्देश्य/क्षेत्र

Education Loans for full-time Premier Courses Abroad*

पुनर्भुगतान चक्र

During the study period borrower has to pay only interest component - it is called pre EMI. Once the lstudy period + grace period is over the borrower is required to pay both interest as well as principal component. Grace period is different from case to case basis.

मुहलत

Grace period is different from case to case basis.

न्यूनतम CIBIL स्कोर

Co-Borrower Required

Parents will be primary borrower.

आवश्यक संपार्श्विक

Collateral may be required in certain cases.

फीस एवं प्रभार

Pre-payment Charges: Nil Penal Interest in case of delayed payment: 2% + interest rate. Bounce Charges: INR 400 Processing Fee: Upto 1.5% of the loan amount. Legal and stamp duty charges: Differs from state to state.

Fees and Charges
पात्रता मापदंड

The Education Loan will be provided to those students who have Indian Citizenship Secured at least 50% marks during HSC & Graduation Who have obtained admission to career-oriented courses e.g. Medicine, Engineering, Management etc., either at the graduate or post-graduate level Secured admission in India or Abroad through entrance test / merit based selection process post completion of HSC (10+2) Documents displaying regular income is mandatory for the co-applicant( parents/sibling/guarantor)

विशेष रियायत
विशेषताएं, पात्रता और रियायत
विशेष लक्षण

Loan tenur can be upto 15 years.

पेशेवरों
पक्ष विपक्ष
Cons

High interest rate. Inrerest EMI's start immediately, they need to be paid during the study period.

Loan sanction amount upto INR 50 lakhs. Loan approval letter is issed prior to securing admission. Borrowr is required only to pay simple interest till the time studies are going on + grace period. Loan is available upto 100% of tution, boarding, travelling and living expenses are covered.

खाता खोलने की प्रक्रिया और प्रक्रिया
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आवश्यक दस्तावेज़
Axis Bank Prime Abroad Education Loan

Axis Bank's Prime Abroad Education Loan can be a good option for students pursuing studies abroad, especially if they don't have collateral for larger loans. The unsecured loan option, multi-currency forex card, and doorstep service are valuable features. However, the potentially higher interest rates for non-prime universities, lack of transparency on interest rate ranges, and eligibility criteria require careful consideration. Comparing it with other lenders and ensuring you meet the eligibility requirements is crucial before applying.

Abhijeet Saxena

Abhijeet Saxena

Abhijeet Saxena

Nalsar University of Law

Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi

Ex - Khaitan & Co. Bengaluru,

Ex - National Stock Exchange, Mumbai,

Ex - Argus Partners, Mumbai

उत्पाद समीक्षा
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