Complete guide to Axis Bank student loans: eligibility, documents, interest rates, collateral rules, benefits, tax treatment and how to apply online (2025).
It’s a good idea to compare offers across multiple platforms. These apps/marketplaces show live lender rates, pre-approved offers, or partner schemes that might include Axis Bank or co-lending partners. Visit them to compare:
Note: Third-party apps may show pre-approved or marketplace offers. Always verify the final terms on Axis Bank’s official portal or with the loan branch.
An Axis Bank Education Loan (also called study loan) is a credit facility to finance higher education — domestic or abroad. Education loans typically cover tuition, hostel, living expenses, exam fees, travel and other course-related costs. Axis Bank provides tailored education loan products for undergraduate, postgraduate, MBA, MBBS, professional courses and international studies, often with features like moratorium during study and flexible repayment after course completion.
Eligibility depends on the scheme and course. Typical Axis Bank criteria include:
Axis Bank may have specific student loan variants (e.g., for abroad courses) with tailored eligibility — check product brochure for exact rules.
Axis Bank education loans typically cover:
Some schemes also include a margin for contingency expenses; confirm the exact inclusions with the bank.
Interest rates vary by product, co-applicant profile and whether loan is secured/unsecured. Indicative Axis Bank education loan rates (subject to change):
Banks price loans based on co-applicant risk, loan amount, tenor and collateral; obtain a formal quote from Axis Bank before committing.
Most education loans require a co-applicant (parent/guardian). For higher loan amounts or international education, lenders may ask for:
Axis Bank offers both unsecured and secured variants. For smaller loans, co-applicant’s income & credit may be enough; for larger loans, collateral reduces lender risk and usually reduces interest margins.
While exact list varies, commonly requested documents include:
Axis Bank may request additional documents for verification — follow the branch checklist to avoid delays.
Most education loans offer a moratorium period — typically course duration plus an additional grace period (e.g., 6–12 months) — during which repayment of principal may be deferred. Interest may accrue during moratorium and be capitalised depending on lender rules. Common repayment options:
Choosing to pay interest during studies reduces compound interest and overall cost — good if co-applicant has cashflow to support it.
Axis Bank periodically partners with educational finance platforms and co-lenders to expand reach — check current product names and partnerships.
Under Indian tax laws, interest paid on education loan is eligible for tax deduction under Section 80E of the Income Tax Act for the co-applicant/borrower (subject to prevailing rules). Key points:
Tax laws change — consult a tax advisor for your specific situation.
For foreign disbursals (tuition abroad), banks usually pay directly to the institute after due checks — provide bank account & international payment details when asked.
Before taking a loan, explore scholarships, institutional grants, or education funding from government and private bodies. Alternatives to loans include:
Combine scholarships with smaller loan amounts to reduce debt burden post-graduation.
A1: Yes — Axis Bank supports loans for many international programs. Requirements often include admission letter, estimated costs, co-applicant with adequate income, and additional checks for foreign disbursals.
A2: Moratorium is the period during which repayment of principal is deferred (usually course duration + additional months). Interest during moratorium may be payable or capitalised, depending on the product.
A3: Most lenders allow prepayment. Check Axis Bank’s prepayment charges (if any) and whether interest is recalculated on outstanding principal.
A4: The person who is repaying the interest (usually the co-applicant/parent) can claim the deduction subject to tax law conditions.
A5: Timeline varies — if documents are complete and collateral (if any) is straightforward, sanction can be within a few days to a couple of weeks. International loans may take longer due to additional checks.
A6: Yes, many Axis Bank education loans include hostel & living expenses as part of the sanctioned amount when substantiated by fee structure or reasonable estimates.
A7: If you receive a scholarship after sanction, inform the bank — they may reduce the sanctioned amount or adjust disbursement; always get such changes documented.
This Axis Bank Education Loan guide is for informational and educational purposes only. Interest rates, eligibility, processing rules and product features change over time—always confirm current terms on Axis Bank’s official website or branch. Third-party apps listed are for comparison only—All Finance Store is not responsible for terms shown on third-party platforms. For personalised advice, consult Axis Bank or a certified education loan advisor before applying.