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Axis Education Loan


Interest Rate

Starting from 9.99%

Processing Fees

0.75% + GST

Margin Money


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Axis Bank Education Loan for Abroad Studies


All you need to know about Axis bank education loan for studying abroad

Anam Shams
Anam Shams

Reviewed By:   Aman


Established in 1994 as UTI Bank, Axis Bank provides education loans to students who want to study in India or abroad. Axis Bank is the third largest commercial private bank in India. Axis Bank provides both secured and unsecured abroad education loans. In the case of an education loan abroad without collateral, the amount can go upto 50 Lakhs INR while in the case of a secured education loan, the amount can go upto 85% of the collateral pledged.

Based on the target university, Axis Bank has divided the educational institutions into three categories:

  • list items Prime A: This list contains mostly Master's programs from top universities.
  • list items Prime B: Besides Master's programs, it includes a few bachelor's degrees as well.
  • list items Non-prime: Courses and institutes which do not form a part of Prime A & B lists are included in this category.
  • Axis education loan does not just help students to realize the financial requirements of studying abroad but also offers a 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 getting an unsecured Axis Bank education loan abroad

    There are many benefits that you are going to enjoy if you pursue your education loan abroad without collateral from Axis Bank. Axis Bank is one of the best options if you do not have collateral to pledge and want to take an unsecured education loan. Axis Bank has approved a list of abroad universities that they have divided based on STEM and non-STEM courses that categorize the university into prime and non-prime categories. The features presented below differ for each of these categories.

    Feature Detail

    Loan Amount

    Prime A - upto 75 Lakhs

    Prime B - upto 50 Lakhs

    Non-Prime - On an immediate EMI basis

    Interest Rate

    10.75% - 11.5%

    Interest Rate Type

    Floating Interest Rate

    Minimum Income (Co-Applicant)

    35,000 INR (without obligations)


    Need to pay Simple Interest only during course + 1 year grace period

    Processing Fees

    0.75% on sanctioned amount + GST

    Other Charges


    Margin Money


    (on all categories, need to show proof prior)

    Loan Tenure

    Upto 15 years

    Processing Time

    5 - 7 days after document submission

    Prepayment Penalty

    No Penalty

    Tax Benefit


    Eligibility for unsecured Axis Bank education loan abroad

    Below are some criteria that you need to ensure so that you can be eligible for taking an Axis Bank study loan

  • list items The applicant and co-applicant have to be Indian citizens.
  • list items Must have secured at least 60% in Higher Secondary and Graduation.
  • list items Co-applicant's CIBIL score should be more than 600.
  • list items Co-applicant's salary should be more than 35,000 INR without any obligations i.e. the co-applicant should not have any other EMI going on.
  • list items Co-applicant must have either 3 years of ITR or 2 years of Form-16.
  • list items Co-applicant needs to be from immediate family. Accepted Co-applicant: Father, Mother, Brother, Sister, or Spouse.
  • list items Only applicable to master’s courses.
  • list items Admit letter for the approved MS courses from the relevant authorities.
  • list items University or college should be in the bank's categorical list of educational institutions.
  • Documents required for unsecured Axis Bank education loan abroad

    There are three different times at which you will need some documents. The initial set of documents will be required when the loan application is in process, the second set of documents will be required during the first disbursement, and the last set of documents for the subsequent disbursement.

    Documents required during the initial phase of the loan process

    For salaried individuals:

  • list items KYC documents
  • list items Bank Statement / Pass Book of last 6 months
  • list items Optional – Guarantor Form
  • list items Copy of admission letter of the Institute along with fees schedule
  • list items Mark sheets / passing certificates of S.S.C. (Secondary School Certificate), H.S.C (Higher Secondary School Certificate), and Degree courses.
  • For all other Individuals:

  • list items KYC documents
  • list items Bank Statement / Pass Book of last 6 months
  • list items Optional – Guarantor Form
  • list items Copy of admission letter of the Institute along with fees schedule
  • list items Mark sheets / passing certificates of S.S.C. (Secondary School Certificate), H.S.C (Higher Secondary School Certificate), and Degree courses.
  • Documents required for the first disbursement

  • list items Demand letter from college or university
  • list items Loan agreement signed by applicant and co-applicants
  • list items Sanction letter signed by applicant and co-applicants
  • list items Disbursement request form signed by applicant and co-applicants
  • list items Receipts of margin money paid to the college/university along with bank statement reflecting the transaction
  • list items Documents for collateral security (if applicable)
  • list items Form A2 signed by applicant or co-applicants in case of overseas institute
  • Documents required for subsequent disbursement

  • list items Demand letter from college or university
  • list items Disbursement request form signed by applicant and co-applicants
  • list items Receipts of margin money paid to the college/university along with bank statement reflecting the transaction
  • list items Exam progress report, marksheet, bonafide certificate (anyone)
  • list items Form A2 signed by applicant or co-applicants in case of overseas institute
  • Features of secured Axis Bank education loan abroad

    Apart from providing Axis Bank education loan without collateral, it can also provide you with secured loans in case you are ready to pledge some collateral with the bank. In case of collateral as well the co-applicant profile is considered. Different features that are associated with a secured abroad education loan with Axis Bank are -

  • list items If you have pledged a residential property as collateral and your co-applicant is salaried, then you can get up to 85% of the property value.
  • list items If you have pledged a residential property as collateral and your co-applicant is self-employed, then you can get up to 75% of the property value.
  • list items In case you have pledged a commercial property, then you can get up to 50% of the property value.
  • list items You can get Axis education loan interest rate between 9.99% - 10.50% for secured loans.
  • list items The main benefit of a secured education loan is that the course and university list are not considered. That is, you can be from any university and course no matter whether it is listed in the Axis Bank university list or not.
  • Subsidies on Axis Bank education loan 

    Under the Central Government Interest Subsidy Scheme offered by Axis Bank, economically disadvantaged students can receive Axis Bank student loans for professional or technical studies at accredited institutions. Key features include:

  • list items Government payment of interest during the moratorium.
  • list items A maximum loan amount of Rs.7.5 lakh.
  • list items Subsidy available only once.
  • list items No subsidy if the course is discontinued.
  • How to apply for Axis Bank abroad education loan?

    The process of starting a loan application with Axis Bank is quite simple. All you need to do is follow the below-mentioned steps.

    Check loan eligibility

    The first step is to check your loan eligibility with GyanDhan which will require you to fill out some details like personal details, target university, loan amount, and more.

    Loan processing

    After checking your loan eligibility, an education loan counselor (ELC) from GyanDhan will contact you and provide a personalized document checklist. You'll need to arrange the documents while the ELC pushes your details to Axis Bank.

    Free doorstep document collection

    Once you arrange all documents, an Axis Bank relationship officer (RO) will collect and verify them. Missing documents will be notified by GyanDhan's ELC and Axis Bank's RO within 1 day.

    Loan approval and sanction

    After all the verification is done, a loan approval mail (with loan amount and other details) is sent to the applicant that needs to be signed so that the same can be sanctioned.

    Learn about Axis Bank education loan disbursement process here

    Benefits Of getting Axis Bank education loan abroad from GyanDhan

    There are several benefits that you would get by proceeding with your loan from Axis Bank through GyanDhan. Some of the benefits have been listed out below -

    Guaranteed best loan

    GyanDhan is committed to providing you with the most advantageous education loan available. Our team ensures that we secure the best possible deal for you. If you come across a better offer, we will compensate for the variance in Axis bank education loan interest rate throughout the entire period of your education loan.

    Higher chances of approval

    GyanDhan ensures Axis Bank only receives your application after meeting all eligibility requirements.

    Customized document checklist

    GyanDhan provides a tailored list of required documents, including alternative options which helps in quick document submission.

    Low turnaround time

    GyanDhan can complete the loan process in 5-7 days (after document submission), compared to Axis Bank's 15-day procedure if an applicant goes directly to the Bank.

    100% Free of cost services

    When you proceed with GyanDhan, an education loan counselor will guide you throughout the process, without any added cost.


    GyanDhan's Impact Stories


    Empowering students to overcome education loan obstacles

    When the course was not Listed as a STEM course

    The student secured an admission in the University of Texas at Dallas for Masters in Applied Cognition and Neuroscience. He required a sum of Rs. 22 lakhs to cover the costs. At first, the student approached government & private banks along with the Non-Banking Finance Companies (NBFCs), but his loan application was rejected by all kinds of lenders. After an exhaustive tug-of-war with the financial institutions, the student who was in complete despair approached GyanDhan for solutions when he met our representatives in a seminar organized in Chennai. Our on-ground team took cognizance of the case when it was forwarded to them by the operations team. Before proceeding further, the team did its homework regarding the course. With the help of consultation provided by the experts in this field, the on-ground team then approached the National Product Team of Axis Bank and suggested that the characteristics of the course are similar to a STEM course. The National Product Team accepted the arguments given by us and even agreed to raise the loan amount by Rs. 3Lakhs and sanctioned the amount of Rs. 25 lakhs to the student.

    When the Income Tax Return (ITR) records were not in order

    The student was offered an admit for an MS in a US university. To sustain his masters, he required a loan of Rs. 45 Lakhs. Initially, his loan application was rejected on the ground that the co-applicant’s (his father’s) ITR records did not mention an audit report which was necessary to generate Unique Document Identification Number (UDIN) - mandatory for businesses to run their operations in the country. Hence, no financial institution was ready to sanction the loan due to the discrepancy in his father’s ITR records. The student approached GyanDhan when his senior referred us to him. Our on-ground team took the matter in their hands. After the elementary research, they found a solution. They suggested the student’s father to get their audit report stamped by a Chartered Accountant (CA). After getting the required stamp, we even helped the student to get a lower rate of interest (RoI). The bank sanctioned Rs.33 Lakhs to the student. His father was ready to use his savings for the rest of the amount.

    When the applicant’s academic profile was poor, and there were procedural hassles and a tight deadline to submit the financial documents

    The student got an admit for Master of Engineering Management from the University of Technology, Sydney. An amount of Rs. 45L was required by the student to pursue his studies. The student’s academic profile was average. He had a slightly low GPA and three backlogs which were cleared in the 1st, 2nd, and 4th attempts. The concerned officer took the application to the loan officer of Axis Bank. After the application went for processing, the student received no updates related to the application status. Part of the problem was also that the course he had applied for was not in the list of courses for which Axis Bank normally sanctions loans for. The student approached the bank with his loan application but to no avail. The student had only a fortnight to submit the proof of his finances. He was in despair as the deadline was getting closer. His father was advised by his friend to approach GyanDhan. Our on-ground team after taking the case in their hands approached the concerned Area Sales Manager (ASM) to propose a solution to this issue. The bank officials were a little hesitant as they did not have full information on the course for which the loan had been applied. We explained to them the intricacies of the course and clarified how the course was closely related to the STEM courses. We informed them about the urgency of the matter and got the loan sanctioned before deadline. He was sanctioned a loan amount of Rs. 25L as the University of Technology, Sydney, comes under Axis Bank’s Prime B list of institutes.

    Co-Applicant Challenges: A Success Story in Pursuit of an MS in Analytics

    One of my customers approached me in October 2019. She was looking for a loan for a Master of Analytics - RMIT Australia. She needed a loan for 35 lacs and her main priority was private banks as she was having a visa deadline and didn't have time to keep funds for 84 days which is a clause while taking a loan from NBFCs for Australia. Due to the situation that her father was retired with a pension and her husband had just recently moved from abroad and started a business without necessary financial paperwork, her case was rejected by many lenders, but we started her process and It took more than a month for all the procedures and finally, her loan was approved from Axis bank which was of 15 lacs only. However due to a gap in the approved loan amount by Axis and her requirements, she decided to change her intake and started the procedure with nbfc but didn't get approval from anywhere, then we spoke with Axis Bank and were able to enhance the amount to 19 lacs. After that, she managed to arrange the remaining funds and begin the disbursal procedure. After her master's degree, she got a job at NEP Australia - Business Analytics and after working for about 3 months, she switched to Gresham Tech Australia.


    Frequently Asked Questions

    What is the repayment tenure of an education loan from Axis Bank?

    The repayment tenure for Axis Bank is upto 15 years but this includes the course and grace period duration.

    Does Axis Bank accept commercial property as collateral?

    Yes, Axis Bank can accept commercial property as well but the loan amount that it can provide on it will only be upto 50% of the property value.

    What is the maximum loan amount one can get for overseas studies from Axis Bank?

    For an unsecured loan, you can get a loan amount upto 50 Lakhs from Axis Bank.

    Is the loan disbursed in favor of the borrower or the institute/college/university?

    The living expenses get disbursed in the account of the applicant while the tuition fees get transferred to the university account. This can also vary for different conditions.

    Do Axis bank student loan for abroad have any Income Tax benefits?

    Yes, education loans from Axis Bank have tax benefits under section 80(c).

    Is Axis Bank public or private?

    Axis Bank is one of the largest private banks in India.

    Does Axis Bank provides a non-collateral loan and what is the minimum amount that I can get for an education loan from Axis Bank?

    The minimum amount that you can get from Axis Bank in case of a non-collateral loan can be somewhere between 20 - 30 Lakhs INR.


    Our Customers. Our Asset


    Vaibhav Desai

    Stevens Institute of Technology, USA

    An alumnus of Stevens Institute of Technology, Vaibhav Desai was working as Data Engineer- SQL at Datavail Infotech. He later decided to pursue MS in US to open up many career opportunities. While articulating how he planned his MS in U...

    Read Vaibhav's story

    Ashish Acharya

    National College of Ireland, Ireland

    Ashish's life story includes working for multiple companies when he decided to pursue masters from abroad after realizing the boom in the analytics sector. He did his masters from National College of Ireland. In his story, Ashish also s...

    Read Ashish's Story

    Yugali Gullapalli

    University of Wisconsin-Madison , USA

    Yugali shares the excerpts from her journey's story of pursuing MS in Computer Systems and Networking, Wisconsin-Madison US. She wanted global exposure and thus chose to study abroad. She describes how she was facing issues with the spe...

    Read Yugali's story

    Ganga Barani

    SUNY Buffalo, USA

    Read how Ganga Barani planned his MS from the SUNY Buffalo US. While working as a software developer at a product-based MNC, he yearned for seeing the world and made his mind to study abroad. In his story, he also tells GyanDhan came as...

    Read Ganga's story

    Abhishek Kumar

    Purdue University, USA

    Graduation from NIT Nagpur and then 4 years in TCS Mumbai, Abhishek's study abroad journey is an interesting tale of planning, preparing, and finally pursuing MS from the Arizona State University. His recollects how he successfully plan...

    Read Abhishek's story

    Pradeep Shekhar

    University of California, USA

    A graduate of IIT Madras, Pradeep Shekhar went on pursue Masters in Communications and Signal Processing from University of California, Santa Barabara. Pradeep revisits his journey to UCSB from IIT Madras and also shares how GyanDhan he...

    Read Pradeep's story

    Hemalatha Jayakrishnan

    Rochester Institute of Technology, USA

    To steer up the career opportunities while working at Hindustan Aeronautics Limited (HAL), Hemalatha Jayakrishnan decided to pursue abroad education. She went on to do MBA from Rochester Institute of Technology, United States. Hemalatha...

    Read Hemlata's story

    Ashutosh Sharma

    The University of Utah, USA

    Discontented by his career growth, Ashutosh Sharma decided to give his career a major boost and went on to pursue MS in Business Analytics from The University of Utah. Ashustosh describes his study abroad journey and also recollects how...

    Read Ashutosh's story

    Deepa Krishnakumar

    University of Auckland, New Zealand

    Deepa was in the academic world working as an assistant professor when het peer group and seniors suggested her about the quality education and career opportunities of abroad education. In her story to the University of Auckland, New Ze...

    Read Deepa's story

    Akash Kashyap

    Arizona State University, USA

    Akash has a deep interest in analytics and was working in Deloitte as a consultant when he decided to study abroad to beef up the career opportunities. He did MS in Business Analytics & Information Management from Purdue University. In h...

    Read Akash's story

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