Axis Bank Education Loan

Scholarship Examination in India

Axis Bank Study Loan | Eligibility | Interest Rates 

Features & Benefits Higher education within your reach

Axis Bank’s Education Loan aims to provide the much needed financial support to deserving students for pursuing higher professional or technical education in India and abroad. The education loan would be provided to those students who have obtained admission to career-oriented courses e.g. medicine, engineering, management etc., either at the graduate or post-graduate level.

We believe, given the right tools and aid, every child has the potential to be successful. Our education loans aim to be the very tool that will enable them to reach their goals in life. No more would a deserving student have to give away their pursuit of dreams due to lack of money. Our student loans will ensure that worthy students are empowered to take their destiny into their own hands. Our endeavour is to help the future of our nation in education and prosperity.

Quantum of Loan

The quantum of finance under the scheme is capped at Rs 10.00* lacs for studies in India and Rs 20.00* lacs for studies abroad, which would cover tuition fees, hostel charges (if any), cost of books, etc. The minimum amount of education loan would be Rs 50,000.

*The Quantum of Loan can be Higher amounts above these caps subject to eligibility and cost, for case-to-case approval.


No margin for education loans up to Rs 4 Lacs. For loans above Rs 4 lacs, 5% margin for studies within India and 15% for higher studies overseas.

Timeline for application decisions

Bank will convey its decision within 15 working days from the date of receipt of the application provided the application is complete in all respects. The computation of 15 days shall starts from the day on which all documents required for a proper appraisal of the application are provided by the Customer to the bank.

Role of the Guardian:

The parent(s) or guardian of the student would be treated as a co-applicant of the student loan. His or her role would be, necessarily, like the primary debtor.


Third party guarantee and/or collateral security may be asked for in appropriate cases.

Additional Security:

Assignment of LIC policy in favour of the Bank for the sum assured is at least 100% of the education loan amount. The policy is kept alive during the currency of the education loan. To ensure this, the annual premium may be included in the computation of the loan requirement, along with the tuition fees and other recurring charges. Further, the future income of the student needs to be assigned in favour of the Bank for meeting the instalment obligations.


The student loan will be disbursed in full or in suitable instalments taking into account the requirement of funds and/or fee schedule as assessed by the Bank directly to the educational institution or vendor of books or equipment or instruments.


Documents Required education loan India

The following documents are required along with your loan application:

Proof of identityPassport or Voter’s ID card or driving license or PAN card or government department ID cardPassport or Voter’s ID card or driving license or PAN card
Proof of incomeLatest salary slip showing all deductions or Form 16 along with recent salary certificateIT returns for the last 2 years and computation of income for the last 2 years certified by a CA
Proof of residenceBank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or existing house lease agreementBank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or existing house lease agreement
Bank statement

or Pass Book where salary or income is credited

Last 6 monthsLast 6 months
Guarantor formOptionalOptional
Other DocumentsCopy of admission letter of the Institute along with Fees schedule, mark sheets/pass certificates of S.S.C, H.S.C, Degree coursesCopy of admission letter of the Institute along with Fees schedule, mark sheets/pass certificates of S.S.C, H.S.C, Degree courses


Interest Rates & Charges

Interest Rates & Charges of Education Loan

Education is the inevitable right of every child and we at Axis bank ensure that it is not denied due to unaffordable education loan interest rates. Our education loans are designed in a manner that is highly affordable in terms of interest and the associated servicing charges. This will ensure that you do not have to stress too much for your child’s higher education and are able to provide for all their educational needs on time.

Loan TypeLoan Amount (Rs)Base RateMark UpEffective ROI (p.a.)
Education LoanUp to Rs 4 lakhs9.50%7.00%16.50%
Loans greater than Rs. 4 lacs and up to Rs. 7.5 lac9.50%8.00%17.50%
Loans greater than 7.5 lacs9.50%6.00%15.50%
Education Loan for Girl ChildUp to Rs 4 lakhs9.50%6.50%16.00%
Loans greater than Rs. 4 lacs and up to Rs. 7.5 lac9.50%7.50%17.00%
Loans greater than 7.5 lacs9.50%5.50%15.00%


Axis Bank Education Loan – Base Rate – 9.50%

SchemeStudy Power
Loan Processing ChargesNil
Prepayment ChargesNil
No Due CertificateNA
Solvency CertificateNA
Charges for Late Payment of EMIRs 500 + taxes per cheque bounce and a penal interest @24% per annum i.e. @ 2% per month on the overdue instalment/s
Charges for changing from fixed to floating rates of interestNA
Charges for changing from floating to fixed rates of interestNA


Other Charges:

Sr. NoTypeCharges
1Repayment Instruction/Instrument Return chargesRs.500 plus service tax as applicable per instance


Terms & Conditions

Bank reserves the right to reject any application/renewal without assigning reasons thereof. It shall be the sole right of the Bank to consider the proposal on a case to case basis after taking into consideration, the credentials/creditworthiness of each of the customers.

The applicant will undertake to inform the Bank as and when there is a change in address or employment

The terms and conditions mentioned above and elsewhere under the scheme are subject to modification from time to time solely at Bank’s discretion.

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