Education and Career Forum

Hi friends, I am planning to do MCA course with the help of an education loan. I came to know that Axis Bank provides an education loan with cheapest interest rates. So, I want to know that if I apply an education loan of Rs. 5 Lacs then what interest rates would be charged?

Originally Posted by Unregistered

Hi friends, I am planning to do MCA course with the help of an education loan. I came to know that Axis Bank provides an education loan with cheapest interest rates. So, I want to know that if I apply an education loan of Rs. 5 Lacs then what interest rates would be charged?

The interest rate against an education loan of Rs 5 Lacs in Axis Bank is 14.50%. The interest rate for an education loan in Axis Bank up to Rs 4 Lacs is 15.00% and for loans above Rs 7.5 Lacs the interest rate is 13.50% in Axia Bank. Female applicants get 25 bps (0.25%) concessions in the interest rate. Interested students can apply online for education loans in Axis Bank. Margin - 5% margin on loans above Rs 4 Lacs for studies in India. Students should have secured at least 50% marks during HSC & Graduation for getting education loan in Axis Bank. Axis Bank education loan website link is given Click Here

Interest rates of education loans for different loan amounts offered by Axis Bank are mentioned below :-

--> Upto Rs. 4 lakhs :- 15% per annum
--> Above Rs. 4 lakhs and less than Rs. 7.5 lakhs :- 14.50% per annum
--> Above Rs. 7.5 lakhs :- 13.50% per annum

As per the information you have mentioned in your query, you have taken an education loan of Rs. 5 lakhs, so, the interest rate will be 14.50% per annum.