Axis Bank Educational Loan - Terms and conditions

Eligibility

Student should be an Indial National & secured admission on merit basis through entrance test/selection process

Course Name

PGDM, PGPXP

Rate of Interest

 Competetive Rate of Interest which will depend on collateral, co-borrower credit worthiness. Starting with 12.75%*

Maximum Loan amount

95% of the total cost of Education (Tution & Living)

Processing Fees

Nil. Security creation/out of pocket expenses payable by the customer on actual basis

Penalty for early closure

Nil

Prepayment Charges

Nil

Repayment

Interest servicing during the moratorium period.

Max. Moratorium period

Course period plus one year or 6 months after securing a job, whichever is earlier

Maximum Repayment period

15 years

Loan Disbursement

As per fee payment schedule. The payment will be made directly to the institute.

Co-applicant

The co-applicant should be parent(s)/guardian of the student borrower. In case of married person, co-applicant can be spouse or the parent(s)/parents-in-law.

Insurance

On the loan amount availed. Insurance amount can be included in the loan amount.

Security

Loans upto Rs. 7.5 lakhs - No security
Loans above Rs. 7.5 lakhs - Acceptable security covering at least 100% of the loan amount

Contact Point

Mr. Sumanth Kumar
Sales Manager(Hyderabad)
Contact Detils:
M: +91 8297225915
E : pasumarthi.kumar@axisbank.com




Woxsen School of Business ties up with Andhra Bank, S.R. Nagar Branch for student education loan.

Contact Person: Navin Kumar Kardam
Contact Number: 8898241073
Email Id : srlpchyd1@andhrabank.co.in




The Woxsen School of Business has established an agreement with Credila (an HDFC finance company) and Avanse. The educational loan covers tuition fees, living expenses, food, facilities and course material.

Institute Name

Woxen Business School

Courses

PGDM, PGPXP

Loan Amount

upto Rs. 20 lacs ( 100% of cost of the course)

Margin Money Required (Yes/No)

No

Product Tenure maximum

 84 months

Study Period

PGPXP -12 months / PGDM -24 months

PEMI Period ( interest to be serviced during study period)

18 Months ( for 12 months programmes ) 30 months ( 24yrs programme) and

EMI Period

54 Months

Repayment Type Allowed

PEMI & EMI

ROI ( PA)

12.95%*

Floating Rate Of Interest

Yes

Origination Fee Amount

1.50% + taxes as applicable

Collateral Security Type

Property( residential house, flat, resi plot) and/or FD.

If Collateral Required, Acceptable Loan To Collateral Value (LTV) Ratio

100%

Main Co-borrower Relationships Accepted

Father/Mother

Main Co-Borrower Locations Accepted

Credila  Locations with ECS facility

Main Co-Borrower's Occupation Accepted

Salaried, Professional.  SENP 1% higher RoI

Additional Details

Tax Benefit under sec 80E of Indian IT Act will be applicable

Contact Point

Mr. P. Premkumar
Assistant Manager – Edu Finance Solutions
Credila Financial Services Pvt. Ltd
T : +91 40 32550320
M: +91 7799835111
E : premkumarp@credila.com





Loan Amount

Minimum Rs.50,000 To Maximum of Rs.20,00,000

ROI/ EMI

13.50% (Immediate EMI) which comes to ₹ 1523/ Per Lakh for 10 Yrs

Margin Money

No Margin Money or 0% margin

One Time Processing Fee

1.5% of the Sanctioned Loan Amount

Expenses Covered

100% of the Tuition Fees, Living/Hostel/Boarding and all others.

Repayment Tenure

12 months to 120 Months

Repayment Type Options

-MI (Monthly Installments)

Courses Covered

PGP Entrepreneur Development

Security Accepted

-House/Flat
-Non Agricultural Land (NAL), Plot
-Fixed Deposit
-Life Insurance Policy (LIP)

Co-Borrowers/Co-Applicants

Father/Mother/Brother/Sister/Spouse and family relative with Security

Locations

All locations serviced by AVANSE

Documents Required

Student KYC
Student Educational Documents
Course Cost or Fee Details
Co-Borrower KYC
Co-Borrower Income Documents
Copy of the Security papers.

 

Contact Point

Mr. Venkata Rao Pallanti
Avanse Financial Services Pvt. Ltd
VenkataRao.Pallanti@avanse.com 
Number: +91 81424 00094
Hyderabad


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