Apply Axis Bank Education Loan Without Collateral.

Loan Schemes for Overseas Education

Axis Bank provides loans for students enrolled in international institutions:

• • Loan Limit: Up to ₹1 Cr (secured), Up to ₹40 Lakhs (unsecured)

• • Expenses Covered: Tuition, living costs, insurance, lab/library fees, airfare, laptops, etc.

• • Eligible Co-applicants: Parents, in-laws, siblings, spouse

• • Interest Rate: Starting from 9.99%

• • Repayment Term: Up to 15 years

• • Eligibility: Indian citizenship, minimum 50% marks in Class 12 and graduation, confirmed STEM admission, co-applicant with credit score >600 and stable income

Loan Schemes for Indian Education

Students studying in India can also avail loans:

• • Loan Limit: Up to ₹1 Cr (secured), ₹40 Lakhs (unsecured)

• • Expenses Covered: Tuition, hostel, books, insurance, computer purchases

• • Accepted Co-applicants: Immediate family

• • Interest Rate: Starts from 9.99%, negotiable

• • Repayment Duration: Up to 15 years

• • Eligibility: Same as overseas criteria

Benefits of Axis Bank Education Loans

• • No Collateral Required: For eligible students up to ₹40-50 Lakhs

• • High Loan Limit: Up to ₹75 Lakhs for top-tier institutes

• • Flexible Interest Rates: Repo-rate linked rates for cost-efficient borrowing

• • Pre-Admission Sanction: For securing visa and admission easily

• • Zero Margin for Loans ≤ ₹4 Lakhs

• • Broad Course Coverage: Includes medical, engineering, management, and more

• • Quick Disbursal: Within 15 days of full application

• • Guardian as Co-Applicant: Strengthening the financial base

• • Secured Options Available: For higher amounts at better interest rates

Comparison: Secured vs Unsecured Loans

Secured Loans:

• • Higher loan limits (up to ₹75 Lakhs or more)

• • Lower interest rates

• • Longer tenure (up to 15 years)

• • Require property or FD as collateral

• • Tax benefits under Section 80E

Unsecured Loans:

• • Faster processing

• • No collateral needed

• • Loan amount up to ₹40-50 Lakhs

• • Slightly higher interest rates

• • Tenure up to 7-8 years

Eligibility Criteria

• • Indian citizenship for both applicant and co-applicant

• • Minimum 60% in Class 12 and graduation

• • Loan applicable only for Master’s level courses

• • Co-applicant must earn ₹35,000+ monthly, no existing EMIs

• • Co-applicant credit score: 600+

• • Income proof via 2 years of Form 16 or 3 years of ITR

• • Institution must be listed under Axis Bank’s approved list

• • Valid admission letter required

Institution Categories

• • Prime A: Top-tier Master’s programs

• • Prime B: Some Bachelor’s and most Master’s programs

• • Non-Prime: All others (immediate EMI applicable)

Required Documents

• • Filled and signed loan application form with photos

• • Academic records (Class 10, 12, latest degree)

• • Admission letter and fee structure

• • Identity proof (Aadhaar, PAN, Passport, Voter ID, DL)

• • Address proof (rent agreement, utility bills, bank statements)

• • Income proof of co-applicant (salary slips, Form 16, ITRs)

• • Bank statements and details of assets/liabilities

Interest Subsidy Scheme

• • Applicable to students from families with income ≤ ₹4.5 Lakhs/year

• • Interest during the moratorium is paid by the government

• • Loan limit: Up to ₹7.5 Lakhs

• • Applicable only once per student

• • Discontinued if student withdraws from course

How to Apply

Online:

1. 1. Visit Axis Bank’s website and go to “Loans > Education Loan”

1. 1. Click on “Apply Now”

1. 1. Fill in personal, academic, and financial details

1. 1. Upload required documents

1. 1. Submit the form and receive acknowledgment with reference number

Offline:

1. 1. Visit the nearest Axis Bank branch

1. 1. Fill out and submit the loan application with documents

1. 1. Wait for verification and receive confirmation from the bank