Axis Bank Education Loan will fund your domestic and abroad studies at super attractive rates of interest. With education loans starting from Rs. 50,000 at low-interest rates, students now have the opportunity to conquer all their educational goals. Axis Bank Education Loan guarantees simple documentation, quick loan disbursal, tax benefit u/s 80(E), long repayment tenure and much more!
Loan Margin: NIL
Processing Fees: 0.38% to 0.75% of Loan Amount

Axis Bank was founded in 1993 and operates as an Indian private sector bank that offers a wide range of financial services. One of the services on offer at Axis Bank is the education loans to students who want to study in India or abroad. The Axis Bank Education Loan starts from Rs. 50,000. Based on the education loan amounts, Axis bank has divided educational institutions into three categories: Prime A: This list contains mostly Masters programmes from top universities. Prime B: Besides Masters programmes, it includes a few Bachelors degrees as well. Non-prime: Courses and institutes which do not form a part of Prime A & B lists are included in this category. Students who utilise the Axis Bank Education Loan can not only benefit from the loan amounts and low-interest rates but also avail the 100% tax benefit to them on the interest paid under Section 80(E) of the IT Act. Other than these features, as a scheduled commercial bank, government schemes such as Central Government Interest Subsidy Scheme (CSIS) for Economically Weaker sections (income up to Rs. 4.5 Lakhs) are available at Axis Bank.

Features Of Axis Bank Abroad Education Loan

Sr. NoFeaturesEducation Loan Details
1Loan amount₹40,00,000.00 (Without Collateral)
2Margin moneyNo Margin up to Rs. 4 Lacs. 5% Margin above Rs. 4 Lacs for studies in India. 15% Margin above Rs.4 Lacs for abroad studies.
3Processing fee0.38% to 0.75%
4Processing time12 Days
5Loan tenure10 Years
6Prepayment chargesNil
7Countries coveredUSA, Canada, UK, Ireland, New Zealand, Australia, Germany and others

Benefits of Axis Bank Abroad Education Loan

1. Early loan approval. Get your education loan approved before i20 or visa. 2. Attractive interest rates - even for education loans without collateral. 3. Covers both tuition and living expenses, including off-campus living expenses. 4. Tax benefit u/s 80(E). 5. Quick sanction and disbursal. 6. No Prepayment Penalty. 7. No pre-closure charges. 8. Pre-visa disbursal as per the norms of visa offices.

Benefits Of Getting Your Axis Bank Abroad Education Loan Through UniCreds

Higher Chance Of Approval
By applying for your education loan through UniCreds, you are increasing your chances of approval. Generally, banks dismiss applications if they find any missing documents, property issues, or any other problem. With UniCreds, we will immediately reach out to Axis Bank Education Loan officials and find the best solution.
Doorstep Service
With UniCreds, doorstep pickup of documents is now possible in most cities across India.
No Cost To You
All our education loan services are completely free of cost.
Quicker Sanctions
Our strategic partnerships ensure low turnaround time. Expect to have your education loan processed and sanctioned within 7 days.

Eligibility Criteria For Axis Bank Abroad Education Loan

Sr. NoTypeRequirement
1Eligibility For An Axis Bank Education Loan1. Applicant can be an Indian citizen or an NRI, but the co-applicant must be an Indian citizen. 2. Admit letter for the approved courses from the relevant authorities. 3. Must have secured at least 50% in Higher Secondary and Graduation. 4. Co-applicant's CIBIL score should be greater than 600. 5. University or college should be in the bank's categorical list of educational institutions. 6. Co-applicant's salary should be sufficient to pay simple interest during the moratorium period. 7. Co-applicant must have either 3 years of ITR or 2 years of Form-16.

Documents Required for Axis Bank Abroad Education Loan

For an Axis Bank Education Loan, UniCreds provides you with a customized documents list that depends on your profile, your co-applicant’s profile and any property/asset, which you may offer as collateral. However, at a higher level, the following documents will be needed:

Sr. NoTypeDocuments Required
1For Applicant and Co-ApplicantIf Salaried- Proof of identity: Voter ID / Driving licence / Passport / PAN card / Aadhar card. Proof of residence: Electricity bill / latest Telephone bill / Bank account statement / existing House lease agreement. Proof of income: Latest salary slips showing all deductions or Form 16 with a recent salary certificate. Bank statement/passbook of last 6 months. Proof of secured admission: Admission Letter or Conditional Admission Letter. Relevant marksheets and passing certificates. Mandatory passport for the applicant (In case of abroad studies). Legal documents of the collateral/ Property documents (In the case of secured loan). Others - Proof of identity: Voter ID / Driving licence / Passport / PAN card / Aadhar card. Proof of residence: Electricity bill / latest Telephone bill / Bank account statement / registered and valid House lease agreement. Proof of income: Last 2 years Income Tax (IT) returns and computation of last 2 years income certified by a Chartered Accountant. Bank statement/passbook of last 6 months. Proof of secured admission: Admission Letter or Conditional Admission Letter. Relevant marksheets and passing certificates.
2First DisbursementFor the first disbursement, a Demand Letter from the college/institute/university in which the student is studying will be required. Loan agreement duly signed by the applicant and co-applicants. Sanction letter signed by the applicant and co-applicants. Request Form for disbursement duly signed by the applicant and co-applicants. Valid receipts of the Margin Money paid to the institution/colleges/university along with the Bank Statement reflecting the transaction. Collateral Security documents (if applicable). Form A2 duly signed by the applicant or co-applicants in case of abroad studies.
3Subsequent DisbursementsDisbursement request form duly signed by either the applicant or co-applicant. Valid receipts of the Margin Money paid to the institution/colleges/university along with the Bank Statement reflecting the transaction. Exam progress report/ marksheet/ bonafide certificate. Form A2 duly signed by the applicant or co-applicants in case of abroad studies.

How To Apply For Axis Bank Abroad Education Loan?

Apply online and upload all your documents. Wait for your application to be processed. Once your application and documents are verified, your Axis Bank Education Loan will get approved. Get your loan sanctioned and wait for disbursal of funds!

Frequently Asked Questions

What is the margin for Education Loans?
There is no margin of up to Rs. 4 lakhs for education loans. For loans above Rs. 4 Lakh, the margin is 5 percent for studies within India and 15 percent for studies overseas.