Axis Education Loan for Abroad Studies Through GoStudy

Axis Bank Education loan for abroad studies through GoStudy helps you to pursue higher studies in overseas universities worldwide!

Axis Bank Education loans for abroad studies through GoStudy are available to you through a simple and easy process with the help of GoStudy. You can avail 100% funding for your overseas education through Axis Bank either as secured or unsecured education loan. At GoStudy, we have a strategic partnership with Axis bank to provide education loans up to 75 lakhs without any security. The best thing is you can get them online without any hassles and GoStudy professionals are always there to cover you.


9

Reasons to Choose an Axis Bank Education Loan Through GoStudy

1

Flexible Loan Coverage

Without any upper limit, Axis Bank Education loan through Gostudy can fund you up to 100% of the total education cost.

2

Easy and Quick Disbursements

GoStudy makes the loan disbursement process quick and easily customizable to credit subsequent advances.

3

Refinancing Options Available

GoStudy helps you arrange for installments towards your course refinanced if financing gets approved.

4

Pre-Admissions Sanction

GoStudy helps you to avail monetary assistance even before you get admitted to any university.

5

Loans Without Collateral

Axis Bank Education Loans can provide you up to 75 Lakhs without collateral after you get admitted into a reputed university.

6

Low Tax Rate on Foreign Remittance

Axis bank through GoStudy offers a low tax rate on remittance in an economical way when funds are transferred internationally.

7

Diverse Loan Offers

GoStudy is India's best Overseas Education Loan provider offering you a diverse range of Axis Bank Education loans for abroad studies.

8

Minimal Processing Time

GoStudy helps with thousands of education loans and has a dedicated team of experts working with credit managers.

9

Lowest Interest Rates In The Market

With GoStudy, you get access to the lowest interest rates, which are usually 0.5% - 1% lower than the market rates!


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Axis Overseas Education Loan for Abroad Studies Through GoStudy

Recently, there has been a positive trend among Indian students looking to study abroad. However, studying in foreign universities and colleges can be expensive, considering the huge traveling expenses, tuition fees, and food and accommodation charges. With very few scholarships available, it becomes critical for Indian students to opt for an Axis overseas education loan through GoStudy that can help them fulfill their dreams of international studies. Besides fulfilling the monetary requirements of an Indian student looking to study abroad, an Axis international education loan through GoStudy also offers 100% tax advantages under Rule 80E of the Income Tax Act. Nevertheless, you can get this benefit on loan interest.

With GoStudy powering Axis Bank, one of India's leading commercial banks, it offers in-house financing to Indian students aspiring to study abroad. Founded in 1993, the bank has made a strong difference in students' lives by giving them the option to get an Axis education loan for abroad studies through GoStudy at the most attractive interest rates. Axis education loan for study abroad through GoStudy starts at Rs. 50,000. It is available with several government initiatives like the Central Government Interest Subsidy Scheme or CSIS for the Economically Weaker people of the society with income up to Rs. 4.5 lakhs. Axis education loan for foreign studies through GoStudy guarantees quick loan disbursement, simple documentation, long repayment tenure, tax benefit under 80E, and much more!

Axis education loans through GoStudy are available to students pursuing or looking to pursue degrees in engineering, medicine, and management in different foreign universities. Education loans for graduate and post-graduate courses are also available to students interested in studying in Ireland, Canada, and the USA. With GoStudy, you can expect hassle-free and quick processing of the loan amount and all-around assistance in the loan application, approval, disbursement, and repayment. It is easy to avail the loan amount. With GoStudy, you can go online and browse through the offers on education loans. Individuals can also visit the nearest GoStudy branch and have a word with our experienced consultants who can help you further.

Axis Education Loan for Abroad Studies
Axis Education Loan for Abroad Studies

Axis Interest Rate for Abroad Education Through GoStudy

If you want education loans for higher studies, the loans from GoStudy through Axis Bank would be the right option. Interest rates of education loan at Axis for abroad studies through GoStudy are highly attractive. The interest rate for Axis foreign education loan through GoStudy for up to Rs. 4 lakhs is 15.20%, and for loans greater than Rs. 4 lakhs, the ROI is 14.70%. According to the lender’s discretion, the interest rate for Axis education loan without collateral through GoStudy can range between 11.75% and 15.20%. The loans are accompanied by 2% of the loan amount levied as a loan processing fee and GST.

Type of Education Loan

Axis Education Loan Rate of Interest As Per Market

Axis Education Loan Rate of Interest Through GoStudy

Secured Education Loan (USA) 9.5% 9.25%
Unsecured Education Loan (USA) 10.25% 10.00%
Secured Education Loan (Others) 9.5% 9.25%
Unsecured Education Loan (Others) 11.75% 11.50%

Note that the EMI of your education loan is the principal part and the Axis interest rate for abroad education. The EMI generally remains fixed for the entire loan tenure and must be repaid monthly. Initially, you will be paying more towards the interest, and gradually, as you keep repaying your loan, a major part of the interest will be adjusted in the principal amount. EMI of your Axis education loan is calculated using the following formula:

EMI = Principal Amount x Rate of Interest x (1 + Rate of Interest) Tenure/ (1+Rate of Interest) Tenure -1

Remember that your loan tenure and interest rate are critical deciding factors for your loan EMI.

What Are The Costs Covered by Axis Education Loan Through GoStudy?

The costs covered by the Axis education loan through GoStudy include:

  • Tuition fees of the college or university, examination fees, lab fees, and library fees.
  • Air ticket fare
  • Expenditures of on and off-campus accommodation, including mess expenditures.
  • Expenses of equipment, laptop, books, and uniform.
  • Student health insurance
  • Other expenses, such as project work and study tours costs

The Axis Bank education loan for overseas education through Gostudy covers the tuition fee and education costs of the following countries:

  • The USA
  • Canada
  • Ireland
  • UK
  • France
  • Germany
  • Singapore
  • Australia
  • New Zealand
  • Austria
  • Belgium
  • Hungary
  • Italy
  • Poland
  • Spain
  • Switzerland
  • Denmark
  • Finland
  • Netherlands
  • Norway
  • Sweden

The minimum loan sanction amount is Rs. 50 000 to whatever might be the requirement for your higher education in a foreign country. 100% funding is available to students so they can easily fulfill their ambition of higher studies without worrying about the expenses involved. The loan's interest rate is based on the repo-linked lending rate of Axis Bank. Once the current repo rate of 4.40% is added with the spread that Axis charges on the same, the eventual rate comes between 11.75% and 15.20% per annum. With zero pre-closure fees on education loans, borrowers can close their loans whenever they can meet a lump sum of funds. Why limit your knowledge to the lack of funds? GoStudy is there to secure your education with its education loans!

Following are the lists of the Costs Covered by Axis Education Loan through GoStudy:

Things covered under Axis Education Loan through GoStudy

Costs Covered by Axis Education Loan through GoStudy

Tuition Fees 0 - 65 Lakhs (Approx)
Living Cost 6 Lakhs - 15 Lakhs (Approx)
Travel Expenses 20,000 - 40,000 Rupees (Approx)
Others (Books/Uniforms/Computers) 80,000 - 1,50,000 Rupees (Approx)

Axis Education Loan without Collateral Through GoStudy

You can get two types of education loans through Axis Bank via GoStudy. These include Axis education loan with collateral security through GoStudy and Axis education loan without collateral through GoStudy. Suppose you have successfully been admitted into one of the top foreign universities and do not want to highlight your possessions. In that case, you can opt for GoStudy’s Axis unsecured education loans for up to 7.5 lakhs without collateral. It offers unsecured education loans to students aspiring to study in foreign universities, based on the co-applicants gross annual income and after a detailed analysis of the student's academic and financial profile. If the student's creditworthiness is in place, the Axis education loan approval procedure through GoStudy is easy and flexible. The higher the credit scores, the better the student's chances of getting an Axis education loan without collateral through GoStudy.

Collateral for Education Loan in Axis Through GoStudy

If a student has collateral to pledge, it becomes beneficial for them to get the education loan amount sanctioned. Providing collateral can boost a student's chances of getting a secured education loan in Axis through GoStudy in the first place. The collateral for an education loan in Axis through GoStudy also makes it easier for students to get loans at a low-interest rate. Collateral or security for Axis education loan through GoStudy is based upon the course and college of the applicant. Collateral security or third-party guarantee might also be asked for different inappropriate cases. For the uninitiated, collateral is the asset that the bank accepts as a form of security for the loan amount sanctioned to the borrower.

The different acceptable forms of collateral for education loans in Axis through GoStudy include:

  • Property : Any residential property, a house, flat or empty land not on standing loan.
  • Insurance : Life Insurance Policy in favor of Axis Bank with the sum assured being a minimum of 100% of the education loan amount.
  • Fixed Deposit : An education loan will be offered on 90% of the fixed deposit amount.
  • Mutual Funds : Axis Bank offers education loans on 50% of the mutual fund amount.
  • Government Bonds : Government security bonds issued by NSCs or National Savings certificates, PSUs or Public Sector Units, and RBI relief bonds are accepted by Axis as collateral security. You can get up to 100% loan amount on the face value of your government bond.

For larger amounts of axis education loans through GoStudy, specifically bachelor's, applicants need to present proof of payment for the remaining amount. Axis bank might reject the loan application if the earnings of the co-applicant are not considered satisfactory by the credit manager. In such situations, apply for a low loan amount. They can also reject the education loan application if the property verification provided as collateral is wrong. Therefore, make sure you check in detail with the GoStudy consultants who will help you make the wisest decision.

Axis Education Loan Abroad University List Through GoStudy

Axis Bank through GoStudy is the 3rd largest commercial private bank in India, with an extensive list of institutions abroad accepting Axis education loans through GoStudy. The bank has categorized foreign educational institutions into three categories. They are:

  • Prime A : These are top universities offering master-level programs. Students securing admissions in these universities can avail of Axis unsecured education loans up to Rs. 40 lakhs.
  • Prime B : These are leading international colleges and universities offering master-level programs. Students securing admissions in these institutions can avail of Axis unsecured education loan for up to Rs. 25 lakhs.
  • Non-Prime : This category constitutes all the other universities and courses not included in Prime A and Prime B categories. Students can avail of an Axis education loan without collateral through GoStudy for an amount of Rs. 7.5 lakhs in this category.

Note that Axis Bank education loans through GoStud are categorized based on different factors, such as margin amount, the quantum of finance, interest rate, and applicable charges.

Below is the List of top 50 abroad Universities accepted by Axis Education Loan:

List of Universities accepted by Axis Education Loan Through GoStudy

Pre-Approved Education Loan amount by Axis through GoStudy

Syracuse University 60 Lakhs
George Washington University 65 Lakhs
New Jersey Institute of Technology 65 Lakhs
University of Florida 65 Lakhs

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Co-Applicant for Education Loan in Axis Through GoStudy

It is likely that the major borrowers of Axis education loans through GoStudy will be students who are not well-off financially. Therefore, it is critical for every applicant to have a co-applicant for an education loan in Axis through GoStudy. However, it is not enough to present anybody as a co-applicant for the loan as an Axis education loan through GoStudy is a huge amount of money and a major responsibility. The co-applicant for the loan should have a secured financial profile, as this can boost a student's chances of availing of the loan. The requirement of a co-applicant is just an added security measure for the bank in case the borrower cannot repay the loan amount under unforeseen situations. The guardian or parents of the student are treated as co-applicants for education loans in Axis through GoStudy, and their role is as primary debtors.

Eligibility Criteria for Axis Education Loan Through GoStudy

Axis education loan requirements through GoStudy are quite easy and simple. Eligibility criteria for an Axis education loan include:

  • Indian citizenship
  • Students must have secured admission to career-oriented courses like management, engineering, medicine, etc., either at the graduate or postgraduate level.
  • Students must have secured 50% marks in Graduation and Higher Secondary.
  • Students must have secured admissions to foreign universities or colleges through merit or entrance test post completing their 10+2.
  • It is mandatory to display a document of regular income for the co-applicant.

Documents Required for Axis Education Loan Through GoStudy

Documents required for education loan in Axis through GoStudy include:

  • Passbook or bank statement for the last six months
  • KYC documents
  • Guarantor form, which is optional
  • Passing certificates or mark sheets of HSC, SSC, and other degree courses.
  • Copy of the chosen institute's admission letter and the entire fee schedule.

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Process & Procedures for Axis Education Loan Through GoStudy

The application process for education loan in Axis through GoStudy is straightforward. After eligibility verification, you can place an online request for a call back from GoStudy. The counselors can help you secure the loan with or without collateral based on your requirements. Your profile information will be examined, and based on your eligibility; you will have to go through a few steps.

GoStudy allows students to provide all papers online to avoid the hassle of presenting papers at the bank. With us, you also get a comprehensive list of the papers you need to submit for an Axis Bank education loan through GoStudy based on your profile and the loan you have applied for. This helps to speed up the Axis education loan processing time through GoStudy. You can regularly check the GoStudy website or the Axis Bank website to know your application status and remain updated on the latest information. Once the documents and the application are confirmed to be free of all loopholes and defects, the loan is accepted and approved for sanction.

Axis education loan processing time through GoStudy is around seven days, and the processing fee for Axis Education Loan is 2% of the total loan amount + GST.

Axis Education Loan Sanction & Disbursement Through GoStudy

On loan approval, you will have to pay a processing fee to get the sanction letter for Axis education loan through GoStudy. This is a document that confirms loan approval and features all required details like course name, university details, loan amount sanctioned, applicant's name, co-applicant's name, guarantor's name, rate of interest, moratorium period, repayment tenure, and other important details. Once the sanction letter is obtained, the co-applicant and student must execute the loan contract within the sanction letter validity terms, which is six months. Once the borrower signs this agreement, they are entitled to a disbursement letter for Axis education loan through GoStudy. Axis Bank will deposit the loan into the borrower's bank account or university account.

To initiate the education loan disbursement procedure, students need to submit documents like:

  • A demand letter from university or college
  • Sanction letter signed by co-applicant and applicant
  • Loan contract signed by co-applicant and applicant.
  • Disbursement request form signed by co-applicant and applicant.
  • Receipts of margin amount paid to the university or college along with bank statements showing the transaction.
  • Form 2 signed by co-applicant and applicant. This is an application and a declaration for foreign exchange drawl or Forex transaction.

Once this is done, the loan amount is transferred by Axis Bank through GoStudy.

Moratorium Period for Axis Education Loan Through GoStudy

Axis education loan repayment through GoStudy starts for the students once they complete their education, and six months is provided as a grace period for students to join a job. The repayment amount is determined by the borrower's choice of the rate of interest. Borrowers need to decide on how they want to go for loan repayment. That is, whether they want to start repaying the loan during the moratorium or after that. The moratorium period is the time of the student's education plus six months or one year offered to get a job. Axis bank offers a moratorium period of 6 months plus course duration for unsecured loans and 12 months plus course duration for secured loans. Students are expected to repay the loan after this moratorium period.

Axis Education Loan Repayment Through GoStudy

Going by the Axis education loan repayment terms through GoStudy, you can opt to pay back your loan after the course duration is completed plus six months of moratorium period if you have chosen an unsecured education loan. The repayment tenure for a secured education loan from Axis Bank is course duration plus 12 months. Students going for loans up to 40 lakhs get a repayment period of 15 years, including a moratorium period with collateral. For amounts above 40 lakhs, the repayment period is 20 years, including a moratorium period.

Axis Education Loan EMI Exemption under Section 80E of the IT Act Through GoStudy

As per Section 80E of the IT Act, borrowers of Axis education loans through GoStudy can claim deductions on overall EMI to be paid for the fiscal year. Eligible borrowers who can go for this benefit include spouses, self, and children, along with the legal guardian of the borrower who has taken up part of the responsibility to repay the education loan. The deduction applies to all courses for which an education loan is offered for abroad studies.


DOWNLOAD Simple & detailed comparison sheet of all Education Loan offered by all government & private banks and NBFC’s to study abroad.

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