Get instant loan offer suitable to your profile !
Simple FIVE step digital process to get a education loan
Use our free tool to verify your eligibility and receive conditional loan offers.
Connect with our dedicated loan counselor for a better understanding of the process.
Submit your documents or complete the necessary forms for bank verification and evaluation.
GyanDhan expert's negotiate to secure the most competitive interest rates and the highest possible loan amount for you.
Recieve your final approval and sanction letter, ensuring prompt fund disbursement from the lender
All you need to know about Axis Bank education loan for studying abroad
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:
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.
Prime A - upto 50 Lakhs
Prime B - upto 40 Lakhs
Non-Prime - On an immediate EMI basis
|9.99% - 12.5%
|Interest rate type
|Floating Interest rate
|Minimum Income (Co-Applicant)
|35,000 INR (without obligations)
|Need to pay S.I. only during course + 1 year grace period
|0.75% on sanctioned amount + GST
|5% (on all categories, need to show proof prior)
|Upto 15 years
|5 - 7 days after document submission
Below are some criteria that you need to ensure so that you can be eligible for taking a loan from Axis Bank
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.
Apart from providing unsecured loans, Axis Bank 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 -
The process of starting a loan application with Axis Bank is quite simple. All you need to do is follow the below-mentioned steps.
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 -
(Principal + Interest)
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.
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 more
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 more
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 more
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 more
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 more
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 more
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 more
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 more
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 more
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 more