Axis Bank Abroad Education Loan

✓ Collateral and Non-collateral Education Loan

✓ To study in India and Abroad

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Axis Bank offers abroad education loans of upto Rs 1 Cr at interest rates starting from 9.99% to help students take admission in top educational institutes in countries like the United States of America, Germany, Canada, the United Kingdom, Australia etc.

Axis bank Abroad Education Loan Schemes

Collateralized Education Loan

Under the collateralized education loan product, Axis bank offers collateralized education loans to students going as per the following conditions:

Loan Parameter 


Loan Amount Limit

Upto 1 Cr

Expenses covered

    • Tuition fees
    • Living Expenses 
    • One way Airfare 
    • Books & Stationery cost 
    • Laptop cost
    • Health Insurance

  Accepted co-applicant

Parents, Parents-in- law, Siblings, spouse

Axis Bank Education loan interest rate for collateralized education loan product

Starts from 9.99%

Moratorium Period

Course duration + 6 months

Repayment Duration

  Upto 15 years

Repayment policies

A simple interest has to be paid during the moratorium period

Value of Collateral required

The value of collateral should be at least 1.25 times the value of asked loan amount

Eligibility Criteria

    • Applicant should be an Indian Citizen
    • Should have secured a minimum of 50% in Class 12 and Graduation
    • Should have taken admission in STEM Course for higher studies
    • Co-applicants' CIBIL score should be greater than 600
    • There must be proof of stable income of co-applicant


Under the collateralized education loan product, the banks provide an education loan in exchange for collateral security, the ownership of which stays with the banks, until the borrower repays the entire loan amount with interest. The following table contains the acceptable securities for Collateralized Education loan products:

Immovable Properties

Liquid Securities


Government Bonds


LIC Policy

Non-Agricultural land

Fixed Deposit


 Non-Collateralized Education Loan Product

Refer to the table below to understand the features of non-collateralized education loan product:

  Loan Parameters 


  Loan Limit

Upto 50 lacs

Expenses covered

    • Tuition fees
    • Living Expenses 
    • One way Airfare 
    • Insurance premium
    • Cost of uniform, equipment, instruments, etc
    • Books & Stationery cost 
    • Laptop or computer purchasing cost
    • Hostel and mess charges

Accepted co-applicant

Parents, Parents- in- law, Siblings, Spouse  

Axis Bank Education loan interest rate for non-collateralized education loan product

Prime A & B Universities - 10.4%

Moratorium Period

Course duration + 6 months

Repayment Duration

Upto 15 years

Repayment policies

A simple interest has to be paid during the moratorium period

Eligibility Criteria

    • Applicant should be an Indian Citizen
    • Should have secured a minimum of 50% in Class 12 and Graduation
    • Should have taken admission in STEM Course for higher studies
    • Co-applicant’s CIBIL score should be greater than 600
    • There must be proof of stable income of co-applicant


GRE Product 

GRE or Graduate Record Examination is considered one of the standard examinations for students planning to study abroad in countries like the USA, Australia, the UK, etc. Considering the significance of the GRE examination, Axis bank has launched a separate GRE-based product for study abroad aspirants. The key features of GRE-based products are:

GRE Score 

Loan Amount 

GRE Score 301 - 315

Loan Amount upto 30 lacs

GRE Score: Above 314

Loan Amount upto 40 lacs

Minimum co-applicant income

4.5 lacs per annum



  • A key benefit of this product is that loans can be sanctioned even without an offer letter.
  • The applicant is eligible for this product even if their college or university is not under the Prime A or Prime B list of Axis bank

Income Based Product

Axis bank’s income-based product is to provide non-collateralized education loans to students planning to pursue their preferred course of study in the country of their choice based on the income of their co-applicant. Under the Axis bank income-based product, a direct EMI is applicable on the sanctioned loan amount as soon as the education loan is disbursed, there is no moratorium period. 

The Axis bank income-based product accepts two types of co-applicants, and the requirements and features of each are different. Let’s understand one at a time;

1. For salaried co-applicant

Acceptable Locations - Most of the metropolitan cities of different states in India are serviceable locations for this scheme. Request a callback from WeMakeScholars to know if this scheme is serviceable in your city or not.

Salaried co-applicant income (per month)

Unsecured Loan Amount (max. limit)

  50k - 65k

10 lacs

65k - 70k

15 lacs

70k - 90k

20 lacs

90k - 1.2 lacs

30 lacs

More than 1.2 lacs

40 lacs


2. For Self-employed co-applicant

As per the Axis bank guidelines, a self-employed co-applicant can be the person who has:

  • A business of sole proprietorship
  • ITR (amount is not considered)
  • Running a business for a minimum of 3 years
  • Lived at one address for at least 12 months
  • Minimum CIBIL score of 700

To evaluate the loan amount eligibility for Axis income-based product in the case of  Self-employed co-applicant - 4 parameters are checked

Cash profit of the company/ Saral income

  Cash Profit 

Unsecured Loan Amount (max. limit)

>=7.5 lacs

15 lacs

>=10 lacs

30 lacs

>= 20 lacs

40 lacs


Networth of the sole proprietor

  Net worth

Unsecured Loan Amount (max. limit)

>=5 lacs

Upto 20 lacs

>=10 lacs

Above 20 lacs


Company turnover

  Type of Industry

Approximate turnover required

Service industry

5 times of loan amount

Manufacturing industry

10 times of loan amount


Location of the co-applicant


Unsecured Loan Amount (max. limit)

Mumbai, Delhi NCR, Chennai, Bangalore, Pune, Hyderabad, Kolkata, Ahmedabad

Upto 40 lacs

Chandigarh, Ludhiana, Amritsar, Jalandhar, Rajkot, Surat, Barods, Vapi

Upto 30 lacs


Collateral Based Product

The collateral-based product offered by Axis bank allows the applicants to take advantage of collateralized education loan products and income-based products together. And that is why, the rate of interest offered on education loans taken through this product is only around 9.99 percent, which is comparatively very less.

The different acceptable collateral and loan margins for this product are given below


Loan Margin

Fixed Deposit

90% of the value

Residential Property + Salaried co-applicant

85% of the value

Residential Property + Self co-applicant

75% of the value

Commercial Property

65% of the value

Non-Agricultural land with boundaries

60% of the value

LIC policy

50% of the value


Stop waiting for the perfect moment and start pursuing your educational goals now.

Documents required to get Abroad education loan from Axis bank

Axis bank has a very specific list of documents that are required to process abroad education loans for study abroad aspirants. Find below the list of those documents:

Loan application form   

  • A copy of the loan application form filled by you in the bank, or online through WeMakeScholars along with 2 passport-size photographs.

KYC documents of student and co-applicant or guarantor 

  • Proof of Identity – PAN Card, voter ID card, Aadhar Card or student’s Passport (if going for abroad studies) 
  • Address proof – Passport/ Aadhar Card/  Voter ID Card/ Telephone Bill/ Ration card/ Electricity Bill/ Bank account statement. (2 different proofs if current and permanent residence is different)
  • Personal and salary bank account statements of last 6 months showing crediting salary (if salaried), 1 year business transactions (if self-employed)
    Asset and liability statement assessed by bank professional

All the documents should be self-attested.

Academic documents of student

  • Marksheet and certificates of class 10th, 12th, and Degree
  • Fee breakdown as given in writing by the college or university
  • Admission proof highlighting the course duration
  • Qualifying examination scores declared by the respective authorities

Income documents of co-applicant

If Salaried

  • Latest Salary slips (for last 3 months)
  • Form 16 of the last 2 years.
  • ID card of the company in which the applicant is working
  • Last 2 year’s Income Tax Return

If Self-employed

  • Last 3 years, Income Tax Return
  • Proof of address of the business
  • Last 3 years Balance sheet showing profit & loss statements (only if self-employed)
  • Proof of Loss statement in balance sheet 

Other Documents

  • Written statement from co-applicant, that they will bear the expenses which are not covered by the loan product.
  • A joint affidavit between applicant and co-applicant in bank’s format, which will be given to you by your financial officer at WeMakeScholars

Additional docs (if applicable)

  • Statement of loan account of past 1 year, (if any pending)
  • Proof of payment (if any) made in advance
  • Letter of break if the students had a backlog or gap in studies on Rs. 100 stamp paper. 

Collateral documents (Optional)

Collateral documents are required to be submitted by students taking education loans with collateral. Each state has different collateral requirements, ask your financial officer about the specific documents checklist as per your eligibility.

However, this is just a list of general documents, but the banks generally have some specific requirements too. Get in touch with your financial officer at WeMakeScholars and get a complete document checklist so that you can save your time for other important work.

Don't let paperwork stress you out - contact us for a personalized solution.

Axis Bank Abroad Education loan repayment policies

Axis bank’s abroad education loan repayment process involves students paying the simple interest on the loan amount, till the moratorium period ends. 

After the moratorium period, students will have to pay a monthly EMI that will be calculated according to the rate of interest, type of interest (simple/compound), repayment duration, and semester-wise breakdown of fees. 

To find out the exact EMI amount, use WeMakeScholars education loan EMI calculator, which is highly accurate, provides detailed results, gives strategic edge and is free of cost like other services of WeMakeScholars.

While Axis bank offers a repayment duration of 15 years, including the moratorium period. Many students opt to repay the education loan early, but how? 

Here are the ways of repaying the Education loan at the earliest in Axis bank:

  • Prepayment or Part Payment
  • Opt for shorter repayment periods
  • Considering transferring your education loan

For more such tips and tricks to save money while your education loan application process, choose WeMakeScholars to process your education loan by requesting a callback to fill up the common eligibility form today itself.

Benefits of Axis bank Abroad Education Loan

Axis bank abroad education loan products are well-known for their wide coverage of colleges and universities in its Prime A and Prime B list of top educational institutions around the world. 

Moreover, the special products, like GRE products, income-based products, and collateral-based products, provide scope to students to pursue their favorite course in their preferred country, without even worrying about the Prime lists.

Why choose WeMakeScholars?

WeMakeScholars is a government of India, funded fintech start-up that is supported by the Ministry of Electronics and Information Technology under the Digital India Campaign.

1000’s of students apply for their abroad education loan through us and we hold a great experience of sanctioning an education loan file within 2-6 days from any private bank or NBFC and within 15-20 working days from a government bank once the documents are submitted.

WeMakeScholars is a legit platform and has so far given wings to 1500+ study abroad aspirants. We are partnered with 14+ public and private banks in India, including NBFCs and Axis bank is one of them. So far we have had a great experience of working with Axis bank and are sure that you too will enjoy the hassle free process.

Benefits of WeMakeScholars

Expert guidance - Your financial officer will provide complete analysis support to compare among the different education loan products

Digitized application process - Online education loan application process has made it hassle-free and convenient for students to apply for education loan at the comfort of their home.

Negotiation support - We have the authority to speak to the lenders team and negotiate on your behalf to provide negotiation support, wherever required. 

Minimal Processing time - The loan sanctioning process takes 2-6 days to complete if it is from private banks or NBFCs and within 15-20 days from a government bank after submitting the documents.

Cashback offer - Get a cashback of up to Rs 3,000 at the time of your disbursement from us. 

Other benefits of processing an abroad education loan with WeMakeScholars is its student-friendly process support, which keeps the convenience of students as their topmost priority. 

Relax and leave the education loan disbursement process in our hands