Axis Bank Education Loan Without Collateral through GoStudy

GoStudy is India’s most prominent education loan provider for overseas education. With Axis bank, GoStudy offers comprehensive loans with lowest interest rates.

Avail the best in the category of Axis bank unsecured education loan through GoStudy and unlock brilliant future prospects in your career. Comprehensively designed Axis bank education loan for abroad without collateral through GoStudy will help you plan your dream future. GoStudy offers the best educational loans with Axis bank to cover 100% funding.


9

Reasons to Opt for Axis Bank Education Loan Without Collateral through GoStudy

1

Avail High-Value Education Loans With Ease

The quantum of Axis bank education loans is comprehensive, with the minimum amount ranging from 50000 INR to a maximum of 40 lacs for unsecured loans.

2

Faster Online Processing and Transparent

Axis bank education loans are very transparent, and the processing time is very little, which can range from 5 to 10 days at the most.

3

No Collateral and Higher Value

Axis bank education loans for abroad without security through GoStudy do not require you to pledge any form of security to the bank.

4

Accepted by More Than 3000+ Universities

Axis bank education loans are accepted all across the country and abroad by more than 3000 universities, which means your dreams just got bigger.

5

Pre-Admission Sanction

Get your loans sanctioned even before your admission takes place based on your creditworthiness and profile.

6

Attractive Interest Rates Compared to Others

GoStudy offers the lowest interest rates on Axis bank education loans without collateral which is less than 1% from other providers.

7

Simple Interest Offerings Also Applicable For Repayment

Axis bank non-collateral education loans through GoStudy come with repayment options including Simple Interest offerings too.

8

Loan Processing Faster

As we process 1000s of education loans, our loan processing time is the fastest and dedicated credit managers ensure everything is flawless and well on time.

9

Personalized 1-on-1 Education Loan Consultants

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 Bank Overseas Education Loan through GoStudy for Abroad Studies

Studying abroad in a prestigious organization and kissing the summits of career success is what every aspirant dreams of. However, not at all times are they able to achieve this. Most students back off from their career goals and study abroad owing to the massive expenses associated with it and the lack of funding from a reliable lender. This is what Axis bank loans through GoStudy focuses on and makes your dreams come true. With their comprehensive loan offerings, you no longer need to think about the costs associated with studying, getting admission, accommodation, traveling, food, and other miscellaneous expenses such as buying gadgets, equipment, etc.

The quantum of a comprehensive Axis bank education loan without collateral through GoStudy covers everything ranging from getting admitted to traveling, accommodation, food, buying gadgets, and other hostel fees. Axis bank offers up to 100% of the education expenses through GoStudy, and you need not worry about any sort of funding concerns. Flexible loan amounts, quick and easy disbursal process and refunds in case of early repayment are some of the verticals that make Axis bank education loans without collateral through GoStudy the ideal form of education funding for study abroad.

Axis bank education loan processing and approval time comes with a blazing speed and can be approved even before your VISA is issued. Prior to issuing a VISA, you need to show your financial portfolio and available funding to get approved.

Consider Axis bank non-collateral education loans through GoStudy as your financial partner to strengthen your career dreams and not just a financial lender. Moreover, since the loan covers all expenses starting from accommodation to buying gadgets and traveling, you need not worry about any sort of funding shortage.

Axis Bank Education Loan Without Collateral
Axis Bank Education Loan Without Collateral

Interest Rates of Education Loan at Axis Bank for Abroad Studies through GoStudy

Interest rates are one of the most important parts of any kind of loan, and this is where it becomes shady for most financial institutions. Interest rates are levied on the loans, which, coupled with the principal amount, is paid monthly. Axis bank interest rates are absolutely affordable, and unsecured education loans start from 8.99% onwards. Interest rates for Axis bank unsecured education loans through GoStudy may vary on several factors and vary for individual students.

If you have a higher credit score and good credit history, you can enjoy lower rates of interest on unsecured education loans. Axis bank offers attractive interest rates without any upper limit and is calculated using a Simple Interest Methodology. Repo rates for Axis unsecured education loans is 5.40% and generally comes with a reset frequency of 3 months. The Marginal cost-based lending rate is 8% for Axis loans and is reset half yearly. The Penalty rate of interest for overdue EMI is 24% annually.

Below is a short table indicating the interest rates for Axis bank education loans without collateral through GoStudy.

Type of Education Loan

Axis Bank 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%

To add to this, the mathematical formula adopted in order to determine the EMI based on the interest rates of education loans at Axis Bank For Abroad Education through GoStudy is below mentioned:

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

*Please note that the tenure of the loan is calculated in months.

What Costs Are Covered By Axis Bank Unsecured Education Loans through GoStudy for Abroad Studies?

Axis bank education loans for abroad without security through GoStudy cover up to 100% of funding for your abroad education and cover all the major as well as miscellaneous expenses associated. When you look out for abroad studies, some of the most comprehensive and heavy expenses are traveling, lodging, equipment buying, and fooding. However, with Axis bank non collateral education loans through GoStudy, you are safe, and all the expenses such as traveling, accommodation, food, hostel fees, lab fees, gadget fees, and any form of other fees are taken care of. Below is a list of all the countries where Axis bank unsecured education loans through GoStudy are accepted.

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

Axis bank education loan without collateral through GoStudy is a comprehensive program that offers up to 100% funding of your education. Covering all the major expenses, the loan does not come with any hidden costs and is comparatively pocket-friendly. Up to 4 lacs, you need not pay any margin; however, for unsecured loans, any amount higher than 4 lacs will draw a margin of 15%. The processing fees can vary anything between 0.35% to 0.75% of the loan amount.

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

Things covered under Axis Bank Education Loan through GoStudy

Costs Covered by Axis Bank 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 Bank Education Loans Without Collateral Through GoStudy

Technologically streamlined, the vast quantum of loan offerings and flexible repayment options make Axis bank loans the most trusted and highly preferred. When you opt for Axis bank education loans without collateral through GoStudy, you can come under initiatives such as Central Government Interest Subsidy Schemes (CSIS) for students with weaker financial portfolios wherein the family earnings are less than 4.5 lacs annually. You can also enjoy lump sum tax benefits under Section 80E from this 100% funded education loan. Lower interest rates starting from 8.99 onwards and disbursal of the loan amount within 2 days of approval is definitely something that every applicant will look forward to.

Axis bank typically offers three different kinds of education loans, which are secured loans, partially secured loans, and Axis bank education loans without collateral through GoStudy. A secured loan requires you to pledge collateral or security against the loan amount you take, which can be immovable property, fixed deposits, non-agricultural land, or other forms of liquid assets. A partially secured loan is when your required loan amount is more than your unsecured eligibility, and the remaining amount needs collateral security.

Unsecured education loans do not require any form of security and can normally range up to 7.5 lacs; however, if you happen to get a chance at a prestigious organization such as IIM, the loan amount can increase depending on your profile. The bank has categorically divided the institutions' list into three categories such as Prime A with top-tier universities, Prime B with two-tier universities and Prime C with universities that do not fall under Prime A or B. in order to qualify for unsecured loans; you need to amass at least 50% in HSC and Graduation. Students or co-applicants need to have a credit score of at least 600+ to avail unsecured loans. Axis bank education loan for abroad without security through GoStudy is ideal for students who do not have collateral security to deposit and are financially a bit on the dull side. With GoStudy, you have higher chances of approval for your unsecured education loan, and the paperwork is also very less compared to secured loans.

Loans without collateral generally come with lots of checks, strong creditworthiness, and tonnes of paperwork. Pre-admission sanctioning of the loan, refinancing of the loan, and flexible interest rates really are a sign of relief to candidates applying for Axis bank education loans without security through GoStudy. Below is a list of all the documents you need to keep handy for getting approval for an unsecured education loan from Axis bank.

  • Unconditional/Firm/Confirmed Offer Letter
  • Co-Applicant’s Income Proof
  • PAN Card
  • Academic Documents
  • Other Relevant Academic Scores - GRE/GMAT
  • IELTS/TOEFL/PTE/English Language Scorecard
  • Valid Passport

Axis bank education loans without collateral through GoStudy fall under the Central government scheme for Economically Weaker Sections or EWS, and the interest rates are also pretty affordable. If your GRE score is 300, you can avail of unsecured loans upto 40 lacs, which is ideal for meritorious aspirants.

Collateral for An Education Loan in Axis Bank through GoStudy

Collateral loans or education loans with collateral from Axis bank come with similar flexible terms and lower rates of interest. However, not all have the privilege of belonging to a financially strong family, and unsecured loans may be the best option for them. Axis bank unsecured education loans through GoStudy come with transparent proceedings and are not shady, unlike other private organizations. Different Central government schemes ensure people opting for unsecured loans do not fall into traps and can pursue their dreams of higher education both inside and outside India.

The below list of documents is required for obtaining a collateral loan from Axis bank.

  • Property Title Deed and Registered Sale Agreement
  • Original Registration Receipt for the above-mentioned agreement
  • Allotment Letter by Municipal Corporation/ Any Authorized Government body like MHADA, CIDCO, HUDA, JDA, GIDC ETC (if applicable)
  • Encumbrance Certificate (EC) to be submitted for the previous 30 years. This collateral document is generally known as Link Document.
  • Valid Copy of the municipality-approved building plan or plot layout.
  • Latest property tax bill or Latest electricity bill bearing the same address

Financially independent students can always opt for secured loans with collateral to ensure 100% approval or sanction rate and take loans in a secured way. However, if you are going for Axis bank unsecured education loan through GoStudy, you must ensure you repay back on time and check all the details before signing the agreement


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List of Institutions Abroad Accepting Axis Bank Education Loans through GoStudy

Axis bank is the third largest bank in the country, is a widely accepted one, and is one of the most prominent names in the financial sector. Axis bank unsecured education loan through GoStudy is accepted by all the major universities and colleges both in India and abroad. With a list of more than 3000+ universities and more than 25 countries accepting Axis bank loans, every year, more than 5,00,000 students are helped by the bank in pursuing their careers abroad. Very few financial organizations have this massive tie-up when it comes to offering unsecured education loans.

Below is a list of institutions abroad accepting Axis bank education loans-

List of Universities accepted by Axis Bank Education Loan through GoStudy

Pre Approved Education Loan amount by Axis Bank through GoStudy

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

Co-Applicant for Education Loan at Axis Bank through GoStudy

When it comes to unsecured loans, a co-applicant is an integral part of the loan application process. Education loans are generally a large sum of money that is lent to the candidates to pursue their dream career, and when it becomes an unsecured loan, banks normally do not want to take a risk. Banks ensure you have a co-applicant prior to approving an Axis bank education loan without collateral through GoStudy to keep both the bank and applicant on the safer side. Mentioned below are the co-applicants that are accepted by Axis Bank for approving the unsecured education loan-

  • Parents
  • Parents-in-law
  • Spouse
  • Siblings
  • Maternal Uncles & Aunts
  • Paternal Uncles & Aunts

Eligibility Criteria for Axis Bank Unsecured Education Loan through GoStudy

Just like the entire process of Axis bank's unsecured education loan is very simple, the eligibility criteria of the bank to qualify for the loan is simple as well. To start with, students need to make sure they already have an unconditional offer for admission into any prestigious Prime A, Prime B, or Prime C universities associated with Axis Bank. The offer of admission letter is important to ensure that under no circumstances is your admission rejected. The letter also ensures the student has fulfilled all the criteria required to get admission to the desired university. Adding to this, there are a few more eligibility criteria for getting the loan approval, which is:

  • Students may be Indian citizens or NRI; however, the co-applicant needs to be an Indian citizen.
  • Must have scored a minimum of 50% in Higher Secondary and Graduation.
  • Co-applicant's CIBIL score should be >600
  • University or college applied for should come under the bank's categorical list of Prime A, B or C educational institutions.
  • Co-applicant's salary needs to be sufficient enough to pay the bank's simple interest whilst the moratorium period.
  • Co-applicant for the loan must possess either 3 years of ITR or, alternatively, 2 years of Form-16.

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Documents Required for Axis Bank Education Loan through GoStudy

As mentioned above, the entire process of Axis bank education loan is very simple with minimum documentation. The list of documents is not complicated, and students should have a minimum number of documents to get approval for the process. Exploit your talents, give wings to your dreams and hone your career goals with Axis bank education loan without collateral through GoStudy. The list of documents are short, and if you are able to complete them, your loan will be approved in no time. The following are the lists of documents you need to present:

  • KYC of Student
  • Educational Documents of the student
  • Course Details & Fee Structure of the University of choice
  • Unconditional/Firm/Confirmed Offer Letter
  • Co-Applicant’s KYC
  • Co-Applicant’s Proof of Income
  • Income Tax Returns of Student - 3 Years (If Applicable)
  • Income Tax Returns of Co-Applicant - 3 Years
  • Proof of Birth Documents
  • Proof of Relationship with Co-Applicant
  • Bank Statement for Months of Co-Applicant
  • Collateral Documents

Income Proof for Salaried Co-applicant/ Guarantor:

  • Salary Certificate or Salary Slip for the last 3 months
  • Copy of IT Returns for the last 2 financial years or Copy of Form 16 for the last 2 years, acknowledged by IT Dept.
  • Bank statement for the recent 1 year (in case of Salary Account)

Income Proof for Self-employed Co-applicant/ Guarantor:

  • Business address proof (If applicable)
  • IT returns for the last 3 years (if Income Tax payee)
  • TDS Certificate (Form 16A, if applicable)
  • Certificate of qualification (for Doctor/ C.A. and other professions)
  • Bank statement for the latest 1 Year

Upon the sole discretion of the banking authority, some more documents may be required for faster approval.

Process and Procedures for Axis Bank Unsecured Education Loan through GoStudy

The process of Axis bank unsecured education loan through GoStudy is very transparent, and the procedure is completely hassle-free. First, the candidate needs to apply for the loan, which can be done online, and mention the required loan amount. The amount of the loan, co-applicant details, self details, institution details, and course details need to be mentioned in this step.

The second process is the verification done from the bank's end. Axis bank will do its round of checks and ensure the papers are authentic and all details for further proceedings are submitted.

The third step involves the bank sending a formal loan offer letter, wherein all the necessary details for further processing are mentioned. All charges and docs checklist is provided in the formal loan offer letter. There are minimum processing charges of 0.35% to 0.75% on the loan amount.

Upon submission and confirmation of the documents and loan offer letter, the bank will approve your loan within 7 days in most cases. Post the sanction of the loan; the amount gets disbursed within 2 days.

Axis Bank Unsecured Education Loan Sanction & Loan Disbursement through GoStudy

When the loan is finally sanctioned, you will receive a formal sanction letter, which carries all the details such as loan amount, charges, EMI, moratorium period and guarantor details, institution details, etc. This should be a comprehensive letter with all mentioned details and is different from an in-principle letter.

After the sanction letter, an agreement is signed between the bank and the applicant/co-applicant to finalize everything. Then the loan is disbursed electronically or via cheque to the borrowers, co-borrowers, or the university’s account. Finally, the customer offers a disbursement letter as proof of the sanctioned and sent loan amount.

Moratorium Period for Axis Bank Education Loan through GoStudy

The moratorium period for Axis bank unsecured education loan through GoStudy is in sync with the guidelines of RBI. It is true that the student will not be able to repay immediately, and hence, a moratorium period is offered. The moratorium period for Axis bank is minimum 6 months, and the tenure is 15 years, including a moratorium for 40 lacs and 20 years for more than 40 lacs. The co-applicant needs to pay a minimum Simple Interest after 6 months, which we at GoStudy can reduce and extend for you.

GoStudy Partnered Axis Bank Unsecured Education Loan Repayment

Axis bank unsecured education loan through GoStudy repayment terms are simple, and you can select your preferred tenure according to your convenience. It may range from 12 months to a longer tenure of 180 months. If your financials are a bit weaker, Axis bank will choose a suitable repayment term for you. Some repayment options for Axis bank unsecured loans are:

  • Partial Simple Interest
  • Simple Interest
  • EMI
  • Full Moratorium period is not offered by Avanse

GoStudy Partnered Axis Bank Unsecured Education Loan EMI Exemption under Section 80E of IT Act

According to section 80E of the IT Act, you can apply for an exemption and reduction on the complete EMI to be paid when you are opting for the education loan. This applies to the student, spouse, children, or any legal guardian who has taken up the responsibility of the education loan. This exemption is applicable to all university courses entitled.


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