Axis Bank Educational Loan

Axis Bank Limited is the third largest private sector bank in India. Currently, it offers financial services to customer segments covering large and midsized corporate MSME, Agriculture and Retail Businesses. It has its registered office in Ahmedabad and approximately 43% of its shares are owned by Foreign Institutional Investors. Promoters (UTI, LIC, and GIC), who collectively held approx. 34% of the shares are all entities owned and controlled by the Government of India. The remaining 23% shares are owned by corporate bodies, financial institutions and individual investors among others.

Axis bank has a network of 3062 branches and extension counters and 12922 ATMs. Axis bank has the largest ATM network among private banks in India. The bank also has eight international offices with branches at Singapore, Hong Kong, Dubai, Shanghai, Colombo and representative offices in Dubai and Abu Dhabi, which focus on corporate lending, trade finance, syndication, investment banking and liability businesses. Overall Axis Bank operates in four segments: treasury operations, retail banking, corporate banking, and wholesale banking.

What is the educational loan?

Axis Bank’s education loan is offered to students who have secured admissions to professional courses at the graduate or post-graduate levels. A flexible loan scheme with affordable interest rates, Axis Bank Education Loans will provide the required monetary support to deserving students.


  1. Up to 35 years for non-employed personnel.
  2. Up to 45 years in case of working employees/ executives
  3. An Indian National having secured admission to professional/technical courses in recognized institutions
  4. Students seeking admission for higher studies
  5. Permanent employees who are employed for not less than three years with any organization\ and who intend to acquire higher professional qualifications and have secured admissions in a reputed institute

Maximum Loan Amount

  1. Typically up to Rs. 1,000,000 for studies in India; with minimum margin money (own contribution by student/ family) of 5% of total cost for loan above 4 Lakh. No Margin for loan less than 4 Lakh
  2. Typically up to Rs. 2,000,000 for studies abroad with minimum margin money (own contribution by student/ family) of 15% of total cost for loan above 4 Lakh. No Margin for loan less than 4 Lakh
  3. Up to Rs. 1,000,000 for studies at IIT’s, IIM’s and ISB’s with minimum margin money (own contribution by student/ family) of 5% of total cost

Repayment Period

  1. For Indian courses repayment tenure is maximum of 5 years after the commencement of repayment
  2. For Abroad courses repayment tenure is maximum for 7 years after the commencement of repayment
  3. There is no prepayment penalty or charge on early prepayment or foreclosure

Expenses covered under the educational loan

  1. Admission fees including monthly fees and examination fees
  2. Books, stationery and equipment
  3. Travel expenses/ passage money for studies abroad
  4. Boarding and lodging expenses of authorized hostel or boarding house.
  5. Expenses required completing the courses like those on study tours, project work, and thesis etc.

Tax Benefits

  1. Interest paid on education loan can be claimed as deduction from income of borrower (student) as per Section 80E of the Income Tax Act, 1961
  2. Rebate can be claimed without any upper ceiling or cap
  3. Rebate is available for full-time courses, part-time courses and vocational courses pursued in India and abroad
  4. Rebate can be claimed within eight (8) years post-moratorium period subject to actual payment of interest
  5. Rebate is available for interest paid on loans for education of self, spouse, children or for the student of whom he/she is the legal guardian
  6. No rebate is available for principal repayment

Documents Required

  1. Proof of Identity: Passport, Voter’s ID, driving license or PAN card.
  2. Proof of Income: Latest salary slips showing all deductions, Form 16 and recent salary certificate.
  3. Proof of Residence: Bank account statement, electricity bill, telephone bill or house lease agreement.
  4. Last 6 months’ bank statement or passbook where salary or income is credited
  5. Guarantor form might be asked for.
  6. Education Documents: Copy of admission letter along with the fees schedule, mark sheets, certificates of S.S.C and H.S.C and degree courses.


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