Specific criteria must be met to be eligible for an Education Loan from Axis Bank. Axis Bank offers Education Loans for students pursuing studies in India and overseas. Loans start from ₹ 50,000 and come with appealing interest rates, including benefits like no charges for early repayment or closure. Below are the eligibility requirements for securing a student loan from Axis Bank.
Eligibility for the Education Loan includes:
- Holding Indian Citizenship.
- Achieving a minimum of 50% marks in HSC and graduation.
- Gain admission to career-focused courses such as medicine, engineering, management, etc., at either graduate or postgraduate levels.
- Securing admission in India or abroad based on entrance exams or a merit-based selection process after completing HSC (10+2).
- It's mandatory for the co-applicant (parents, sibling, or guarantor) to provide proof of regular income.
Axis Bank will determine the eligibility for the education loan per the Bank's policy at the time of the loan application and disbursement.
Documents required for Education Loan
Axis Bank Education Loans helps you finance your tuition fees, hostel charges, study materials, etc. The Bank provides quick and hassle-free loans once you provide the application and required documents. Find out the documents required for Education Loan.
Documents for Education Loan for salaried individuals:
- KYC documents
- Bank Statement / Pass Book of last 6 months
- Optional – Guarantor Form
- Copy of admission letter of the Institute along with fees schedule
- Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses
Documents for Education Loan for all other Individuals
- KYC documents
- Bank Statement / Pass Book of last 6 months
- Optional – Guarantor Form
- Copy of admission letter of the Institute along with fees schedule
- Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses
Documents required for first disbursement
- Demand letter from college or university
- Loan agreement signed by applicant, co-applicants
- Sanction letter signed by applicant, co-applicants
- Disbursement request form signed by applicant, co-applicants
- Receipts of margin money paid to the college / university along with bank statement reflecting the transaction
- Documents for collateral security (if applicable)
- Form A2 signed by applicant or co-applicants in case of overseas institute
Documents required for subsequent disbursement
- Demand letter from college or university
- Disbursement request form signed by applicant, co-applicants
- Receipts of margin money paid to the college / university along with bank statement reflecting the transaction
- Exam progress report, marksheet, bonafide certificate (Any one)
- Form A2 signed by applicant or co-applicants in case of overseas institute
