Education and Career Forum

Hello everyone, I want to know about the details of subsidy scheme of an education loan available in Axis Bank? I am going to apply for an education loan in this bank. So, I want to know about the subsidy scheme first. Thank you!

Axis Bank offers the Vidya Scheme for Education Loan, which provides various benefits to students. However, Axis Bank does not offer any specific subsidy scheme on education loans.

Under the Vidya Scheme for Education Loan, Axis Bank provides a range of benefits, such as:

• Loan Amount: Axis Bank provides loans ranging from Rs. 50,000 to Rs. 75 Lakhs for studies in India, and up to Rs. 1.5 Crores for studies abroad.
  
• Flexible Repayment Options: The bank provides flexible repayment options, with the tenure ranging from 12 months to 15 years.
  
• Interest Rates: Interest rates for Axis Bank education loans start at 8.25%, which may vary based on the loan amount, repayment tenure, and other factors.
  
• Margin: The margin for Axis Bank education loans is 15% for studies in India and 20% for studies abroad.
  
• Collateral: The bank may ask for collateral or security to sanction the loan based on the loan amount and other factors.

Overall, while Axis Bank does not offer a specific subsidy scheme for education loans, its Vidya Scheme provides various benefits to students looking to fund their higher education.