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Axis Bank education loan interest rate to study abroad: pursuing higher education abroad is a significant step toward achieving academic and career goals. However, the financial aspect of studying overseas can be daunting. Axis Bank offers education loans to study abroad to help cover these expenses, with competitive interest rates and flexible terms.
This guide explores the Axis Bank education loan interest rate to study abroad, eligibility criteria, benefits, and application process to help you make an informed decision.
This Blog Includes:
- What is Axis Bank Education Loan for Studying Abroad?
- Axis Bank Education Loan Interest Rate to Study Abroad
- Eligibility Criteria for Axis Bank Education Loans
- Benefits of Axis Bank Education Loans for Studying Abroad
- Tips to Secure the Best Axis Bank Education Loan Interest Rate
- FAQs on Axis Bank Education Loan Interest Rate
What is Axis Bank Education Loan for Studying Abroad?
Axis Bank’s education loans are financial products designed to fund higher education, both in India and abroad. For international studies, the bank offers secured education loan and unsecured loans to study abroad variants, covering tuition fees, living expenses, travel costs, and more. The Axis Bank education loan interest rate to study abroad is competitive, making it a popular choice for those pursuing global education.
- Loan Amount: Starts at INR 50,000, with unsecured loans up to INR 75 lakh and no upper limit for secured loans to study abroad.
- Coverage: Includes tuition fees, accommodation, books, travel, and other education-related expenses.
- Repayment Tenure: Up to 15 years, including a moratorium period (course duration plus 6–12 months).
- Collateral: Unsecured loans up to INR 75 lakh for premier courses; secured loans require property or fixed deposits for higher amounts.
- Processing Time: Axis Bank education loan processing time is 15 working days.
Also Read: Banks Giving Education Loan in India
Axis Bank Education Loan Interest Rate to Study Abroad
The interest rate is a critical factor when choosing an education loan, as it impacts the overall cost of borrowing. Axis Bank offers a competitive loan interest rate to study abroad linked to the Reserve Bank of India’s repo rate, ensuring transparency and affordability.
Axis Bank education loan interest rates for studying abroad vary based on the loan amount, course, institution, and whether the loan is secured or unsecured. The rates are typically linked to the repo rate, with a bank-determined spread added. Below is an overview of the interest rates:
| Loan Type | Interest Rate Range | Key Factors |
| Unsecured Loan | 10.75%–15.20% p.a. | Loan amount, institution rank, GRE score |
| Secured Loan | 9.25%–10.50% p.a. | Collateral value, co-applicant income |
| Premier Institutes | 9.20%–11.50% p.a. | Admission to Prime A or Prime B institutes |
- Repo Rate Reset: Adjusted every three months or as per bank policy.
- Preferential Rates: Lower rates for top-tier universities (e.g., MIT, Oxford) on the Axis Bank Premier Institute list.
- MCLR-Based Rates: Some loans start at 9.20% p.a., reset every six months.
Factors Affecting Axis Education Loan Interest Rates
Several factors influence the Axis Bank education loan interest rate to study abroad. Understanding these can help you secure a lower rate and manage repayment effectively.
- Institution Ranking: Admission to Prime A or Prime B institutes often qualifies for lower rates.
- Loan Amount: Higher amounts may have different rates based on collateral or risk assessment.
- Co-Applicant Credit Score: A score above 700 for the co-applicant (parent/guardian) can reduce rates.
- Collateral: Secured loans typically have lower rates due to reduced risk for the bank.
Apart from getting an affordable Axis Bank education loan interest rate, you can also avail a personal loan at a competitive Axis Bank personal loan interest rate with flexible repayment options.
Eligibility Criteria for Axis Bank Education Loans
Meeting the eligibility criteria is crucial for loan approval. Axis Bank has specific requirements to ensure that applicants are well-suited for the loan, making the process straightforward for eligible candidates.
Who Can Apply?
Axis Bank’s education loans for studying abroad are available to Indian citizens pursuing career-oriented courses at recognized institutions. The bank evaluates academic performance, course type, and financial stability of the co-applicant.
- Nationality: Must be an Indian citizen.
- Academic Record: Minimum 50% marks in HSC (10+2) and graduation (if applicable).
- Course Type: Graduate/postgraduate degrees or PG diplomas in fields like medicine, engineering, or management.
- Admission: Secured through entrance exams or merit-based selection at recognized foreign universities.
- Co-Applicant: Parent, guardian, or spouse with a stable income and credit score above 700.
Premier Institute Advantage
Axis Bank categorizes foreign universities into Prime A, Prime B, and Non-Prime lists. Students admitted to Prime A or B institutes (e.g., top global universities) can access higher loan amounts and lower interest rates, enhancing affordability.
- Prime A: Mostly master’s programs at elite universities; unsecured loans up to INR 75 lakh.
- Prime B: Includes select bachelor’s and master’s programs; unsecured loans up to INR 50 lakh.
- Non-Prime: Other institutions; unsecured loans up to INR 7.5 lakh, with collateral for higher amounts.
Also Read: How to Reduce Education Loan Interest Rates? Tips
Benefits of Axis Bank Education Loans for Studying Abroad
Axis Bank’s education loans come with several advantages, making them an attractive option for funding international studies. These benefits ensure flexibility and ease throughout the loan process.
Financial and Tax Advantages
The loan structure is designed to minimize financial burdens and provide long-term benefits, such as tax deductions and flexible repayment options.
- 100% Cost Coverage: Funds tuition, living expenses, travel, and more.
- Moratorium Period: No EMI payments during the course plus 6–12 months after completion.
- Tax Deduction: Interest paid qualifies for deduction under Section 80E, reducing taxable income.
- Central Government Subsidy: Available for economically weaker sections (income up to INR 4.5 lakh) under the CSIS scheme, covering interest during the moratorium period.
Operational Benefits
Axis Bank streamlines the loan process to ensure quick access to funds, allowing you to focus on your academic preparations.
- Fast Disbursal: Loan approval in 7–15 days, with funds released within 2 days post-approval.
- Doorstep Service: Assistance with documentation and application at your convenience.
- No Processing Fees: No upfront charges for loan processing in most cases.
- GRE-Based Funding: Unsecured loans up to INR 50 lakh based on GRE scores, even without an offer letter.
Tips to Secure the Best Axis Bank Education Loan Interest Rate
Securing a lower Axis Bank education loan interest rate to study abroad can significantly reduce the cost of your education loan. By taking proactive steps, you can optimize your loan terms and repayment plan.
Strategies for Lower Rates
Implementing these strategies can help you qualify for the most competitive Axis Bank education loan interest rate to study abroad.
- Choose a Premier Institute: Admission to Prime A or B universities often results in lower rates.
- Maintain a Strong Credit Score: Ensure the co-applicant’s credit score is above 700.
- Opt for a Secured Loan: Pledging collateral can reduce the interest rate by 1–2%.
- Use the EMI Calculator: Axis Bank’s online EMI calculator helps you estimate monthly payments and choose a suitable tenure.
Comparing Loan Options
Before finalizing, compare Axis Bank’s offerings with other lenders to ensure you’re getting the best deal. Consider interest rates, processing fees, and repayment flexibility.
- Interest Rate Comparison: Check rates from other banks like SBI or NBFCs like Avanse.
- Processing Fees: Axis Bank charges up to 2% + GST, negotiable to as low as 0.5%.
- Repayment Terms: Longer tenures reduce monthly EMIs but increase total interest paid.
Also Read: Education Loan Process: Steps, Eligibility Criteria, & Repayment
Axis Bank’s education loans provide a reliable solution for funding studies abroad, with competitive interest rates starting at 9.20% p.a. for premier institutes and flexible repayment options up to 15 years.
By understanding the Axis Bank education loan interest rate to study abroad, eligibility criteria, and application process, you can plan your finances effectively.
FAQs on Axis Bank Education Loan Interest Rate
The Axis Bank education loan interest rate to study abroad ranges from 9.20% to 15.20% p.a., depending on the loan type (secured or unsecured), institution ranking, and co-applicant’s credit score. Rates for premier institutes start at 9.20% p.a.
Axis Bank’s education loans cover tuition fees, living expenses, travel costs, books, equipment, and other education-related expenses, ensuring up to 100% financing of your study abroad costs.
Yes, Axis Bank offers unsecured loans up to INR 75 lakh for studying abroad, particularly for premier institutes. The interest rate for unsecured loans typically ranges from 10.75% to 15.20% p.a.
The repayment tenure for Axis Bank education loans can extend up to 15 years, including a moratorium period (course duration plus 6–12 months), making EMIs manageable.
Yes, interest paid on Axis Bank education loans qualifies for tax deductions under Section 80E of the Income Tax Act, reducing your taxable income.
To secure a lower interest rate, apply for a secured loan, ensure the co-applicant has a credit score above 700, or gain admission to a Prime A or Prime B institute on Axis Bank’s list.
Required documents include KYC proofs (PAN, Aadhar, passport), academic records, admission letter, co-applicant’s income proof, and collateral documents (if applicable).
Axis Bank may charge a processing fee of up to 2% + GST, but this is often negotiable to as low as 0.5% or waived for certain loan types or premier institute admissions.
Yes, Axis Bank offers pre-visa disbursal, allowing funds to be released before visa approval, which helps with financial planning for studying abroad.
Applicants must be Indian citizens, have at least 50% marks in HSC and graduation, secure admission to a recognized foreign university, and have a co-applicant with a stable income and credit score above 700.
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