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Did you know that the number of Indian students studying abroad has tripled in just the last decade? It's a staggering statistic that speaks volumes about the growing ambition and global mindset of our youth. But behind every success story of an Indian student making waves on foreign shores, there's often an untold tale of financial juggling and sleepless nights worrying about expenses.
Let's face it – the path to international education is paved with more than just dreams and determination. It's lined with daunting currency conversions, eye-watering tuition fees, and the ever-present anxiety of managing living costs in a foreign land.
But what if there was a way to transform this financial tightrope walk into a confident stride toward your goals? What if you could pursue your dreams of studying abroad without the constant shadow of financial stress looming over you?
This is where Axis Bank enters the picture, offering a ray of hope for study abroad aspirants. With a deep understanding of the unique financial challenges faced by international students, Axis Bank has crafted education loan solutions that go beyond just lending money – they're investing in your potential.
As we delve into these tailored financial offerings, keep a close eye on the Axis Bank education loan interest rate. It's more than just a number; it's a key that could unlock the door to your international education dreams without burdening your future.
Axis Bank offers secured loans as well as unsecured loans for international students who want a collateral-free loan. Let’s see what some of the key features of the bank’s unsecured loans are:
| Income | The loan is offered as per the income of the sponsors |
|---|---|
| Rate of Interest | 10.5% to 11.25% |
| Loan Amount | Prime A up to INR 75 Lakhs |
| Prime B up to INR 50 Lakhs | |
| Prime C up to INR 15 Lakhs | |
| Loan Margin | The bank offers 100% funding for Unsecured Loans |
| Study Level and Course | Unsecured loans are offered for all courses with loans for UG diploma that have a direct EMI Option |
| Tenure | 15 years |
| Sponsors | Parents, grandparents, and other immediate family |
| Simple Interest | Compulsory to pay Simple Interest after the loan is disbursed |
| Moratorium Period | Till 1 year after the course is completed |
This look at the key features of collateral-free loans offered by Axis Bank brings us to the eligibility criteria and application process to secure the unsecured education loan.
The eligibility criteria and the loan application process for Axis Bank’s Education loan are as follows:
To be eligible for this loan, students should:
Here is how students can apply for an education loan in a few simple steps: