Education and Career Forum

Hello,
Can I know how much interest rates is charge in Education Loan scheme of Axis Bank? I am going to get admission for MBA course in an Autonomous college so I want to know about this. The total expenses of MBA course is Rs. 8.75 Lacs. Kindly tell me what interest rates will be charge on this amount?

Interest rates charged against an Education loan of Rs.8.75 lacs under Axis Bank Education loan scheme are mentioned below :-

Education Loan Greater than Rs.7.5 lacs :-
--> Marginal Cost Based Lending Rate (MCLR) :- 9.30%
--> Mark Up :- 6.20%
--> Effective ROI Per Annum :- 15.50%

Education Loan Greater than Rs.7.5 lacs for Girl Child :-
--> Marginal Cost Based Lending Rate (MCLR) :- 9.30%
--> Mark Up :- 5.70%
--> Effective ROI Per Annum :- 15.00%

The interest rate charged by Axis Bank is a bit different as compared to public sector bank since it is a private sector bank. The details of the interest rate charged by Axis Bank have been enclosed in the attachment below. Kindly refer the attachment and get the details.

Originally Posted by Unregistered

Hello,
Can I know how much interest rates is charge in Education Loan scheme of Axis Bank? I am going to get admission for MBA course in an Autonomous college so I want to know about this. The total expenses of MBA course is Rs. 8.75 Lacs. Kindly tell me what interest rates will be charge on this amount?

The Axis Bank Education Loan interest rates will vary for different amount. The details given below;

For up to Rs. 4 lakhs – 16.50%
Loans greater than 4 lakhs to up tp 7.5 Lakhs – 17.50%
Loans greater than 7.5 lakhs – 15.50%

For girl students the amount will be less by 0.5% in the entire category. The aspirant can find the details in the website also Official Website.