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Education Loan Subsidy Scheme
Axis Bank offers Education Loans to students under various government subsidy schemes. This scheme is available for Education Loans taken by students belonging to economically weaker sections (EWS) (where annual parental income from all sources is up to and inclusive of ₹4.5 lakhs) under the IBA-approved Model Educational Loan Scheme for pursuing any of the approved courses of studies in technical and professional streams, from recognised institutions in India.
West Bengal student Credit Card subsidy scheme:
This scheme is available for students of West Bengal for higher studies in India and abroad. Under this scheme, students can apply for loans up to ₹10 lakhs without any collateral.
Eligibility for education loan subsidy schemes
The schemes are applicable only to studies in India and are available for Educational Loans up to and including ₹7.5 lakh without any collateral and third-party guarantee, subject to complying with the conditions of the interest subsidy scheme.
Education loan subsidy scheme documentation
The following documents need to be submitted at the time of loan sanction:
Great plans start with well-calculated decisions
Education Loan EMI Calculator
In a knowledge economy that we live in today, education plays a pivotal role. With an Education Loan, you can make your dreams come true. Students can directly apply for an Education Loan. But before you apply for an Education Loan, as a prudent loan planning exercise, assess how much the Equated Monthly Instalment will be. Axis Bank's Education Loan EMI calculator is an automated tool that will quickly let you know your EMI.
Total Amount Payable
₹ 1,37,621
Tax benefit calculator
Education Loan from Axis Bank helps you to finance higher education and save tax too. The interest paid on Education Loan availed can be considered as a deduction from the total income U/S 80(E).The Tax Benefit Calculator given below is an illustration on the Tax Benefit U/S 80(E).
Effective ROI
7.18 %
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