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Education Bank Loan in India : Axis Bank


Axis Bank was the first of the new private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The Bank today is capitalized to the extent of Rs. 406.94 crores with the public holding (other than promoters and GDRs) at 54.55%. The Bank's Registered Office is at Ahmedabad and its Central Office is located at Mumbai. The Bank has a very wide network of more than 1000 branches and Extension Counters (as on 31st May 2010). The Bank has a network of over 4397 ATMs (as on 31st May 2010) providing 24 hrs a day banking convenience to its customers. This is one of the largest ATM networks in the country. The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.

Eligibility


Study power aim of Axis Bank is to give financial help to the admirable candidates or students for taking higher or technical courses in the India as well as in Abroad.

Those students, who get admission to the career learning courses, would get the loans. These career oriented courses are engineering, medicine, management etc. and are either graduate courses or post graduate courses.


Details of Loan


Quantum:

Under this scheme, the amount of loan is limited up to Rs 7.5 lakh for students in India and up to Rs 15 lakh for the students in abroad. This loan covers tuition fee, book's cost, hostel fees (if needed) etc. Rs. 50,000 is the smallest amount of loan.

Margin:

  • There is no any margin on the loan up to Rs 4 lakh
  • The margin on loans greater than Rs 4 lacs are 5 percent for students in India and 15 percent for the students in Abroad.

Necessary Documents:

For the accompanying the forms of application following papers or documents are required for both parents and students.

Documents required for the students studying in India:

  • Identity Proof: Identity proof can be passport copy, identity card of voters, driving license, or the pan card.
  • Residence verification: Driving licence, passport copy, identity card of voters, light bill or the phone bill.
  • Age Proof: Driving licence, passport copy, birth certificate or the pan card.
  • Verification of the signature
  • Photograph of the one singe.
Documents required for the students studying in Abroad:
  • Admission or offer or bonafide letter for the student from the college or university in the India and in Abroad.
  • Course's cost counting cost of living
  • The copy of the examination result passed at last time
  • Passport copy
Documents needed from co applicant
  • Confirmation of Income: Returns of income tax from last 2 years or form 16.
  • Papers of Collateral Security
  • According to the case, documents or any other information needed by the bank.

Guardian's Role:

Co-applicants of role may be student's guardian or parents. The role of her or his/her would be as a prime debtor. Security for the Loan:

In some of the cases, guarantee of third party or the collateral security can be asked.

Extra Security:

On 100 percent amount of the loan, policy of LIC in bank's favor is required. The polic is alive at the time of currency of loan. For this, annual premium is added in the calculating loan requirements with tuition and other fees.


Disbursement


In full or suitable installment, loan will be pay out. For that consider the necessity of the funds and the schedule of the funds is accessible by bank straight to equipment, educational institution, instruments or the vendor.


Details & Contact


Registered Office
"TRISHUL", 3rd Floor,
Opposite Samartheshwar Temple,
Ahmedabad 380 006.
Phone - 079- 26409322
Fax:- 079-26409321

Central Office:
Thirteenth Floor,
Cuffe Parade,
Colaba, Mumbai 400 005.
Phone- 022-6707 4407
Fax - 022-2218 6944, 2218 1429
Website - http://www.axisbank.com



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