I would like to tell you about the Axis Bank Education Loan details for Axis Bank Young Bankers MBA Program, as you want.

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Axis Bank Education Loan details for Axis Bank Young Bankers Program
Axis Young Bankers Program (ABYB) – Terms and conditions
Sr. No. Terms Details
1 Eligibility Student should be an Indian National & should have been selected under the Axis Young Bankers Program

2 Course Name Post Graduate Diploma in Banking Services

3 Rate of Interest 12. 75 % (Fixed rate)

4 Maximum Loan amount 4 lakh (inclusive of course fees, service tax & insurance premium)

5 Processing Fees Nil

6 Other Charges A lumpsum amount of Rs. 2,000/- will be collected towards out of pocket expenses like Stamp Duty / document Franking etc.

7 Penalty for early closure Nil

8 Prepayment Charges Nil

9 Charges for Late Payment Rs 500 + taxes per cheque bounce and a penal interest 24% per annum i.e. 2% per month on the overdue instalment/s

10 Repayment Instruction/Instrument Return charges Rs.500 plus service tax as applicable per instance

11 Repayment Interest servicing during the moratorium period. EMI repayment will start on completion of the moratorium period.

12 Mode of repayment Interest/EMI repayments will be recovered on a monthly basis from the stipend account based on the "Standing Instruction" from the student.

13 Max. Moratorium period 18 months (i.e. course period + six months)

14 Maximum Repayment period 5 years (which starts six months after the candidate has joined the active service with Axis Bank)

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

16 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

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

16 Tentative Interest amt (per lakh) during moratorium period Approx Rs. 1,083/-

17 Tentative EMI amt (per lakh) post moratorium period Approx Rs. 2,263/-