Key takeaways
- Axis Bank makes study-abroad funding easier with flexible education loans, including options without collateral, so you can focus on your plans, not paperwork.
- The loan process is quick and student-friendly, with approvals usually processed in just 7–10 working days and repayment options going up to 20 years.
- You can access competitive interest rates (10.75%–12.5%) and loan amounts of up to INR 1.5 Cr, covering everything from tuition to living expenses and travel.
- Applying for the loan through the Edvoy app is really simple. Just fill in your details in the Funds section and get personalised support.
If you're looking for education loans, check out Funds to get pre-approved loans in just 3 days!
We know that studying abroad often comes with a significant financial burden. It’s not just the tuition, but living expenses, travel, and other costs. And that's exactly where the right education loan can make all the difference.
Now imagine this: you get expert study-abroad guidance from Edvoy and hassle-free funding support from Axis Bank, all in one smooth, student-friendly journey. Axis Bank is one of the leading student loan providers, specialising in international student loans. Axis ensures you get the right student loans without collateral.
Meanwhile, at Edvoy, we help you study abroad by providing end-to-end assistance, from university application support to visa application assistance, funding advice, and more. If you’re wondering how Axis Bank’s education loan, along with Edvoy’s support, can simplify your study-abroad plans, you’re in the right place. Let’s break it down together.
Table of Contents
- How Edvoy and Axis Bank help you with education loans
- Features of the Axis education loan
- How to apply for the Axis education loan through Edvoy
- Axis Bank education loan: Eligibility criteria
- Documents required for the loan application
- Frequently asked questions
How Edvoy and Axis Bank help you with education loans
Streamlined application
With Edvoy and Axis Bank, your application is fully digital. You’ll have guidance on which loan scheme fits you best, checking your eligibility, and tracking your application. Just head to the Edvoy app, select the Funds section, and it’s all a streamlined process that saves you time and energy.
No collateral needed
A big benefit of choosing Axis is that they provide student loans without collateral, making it a great option for your financial support.
Flexible loan amounts and coverage
Axis Bank offers collateral and non-collateral loan options, covering STEM, non-STEM & Management courses across all study levels. These loans come with competitive interest rates ranging from 10.75% to 12.5%, covering a maximum of up to INR 1.5 Cr, depending on the loan type and borrower profile. We can help you evaluate these rates and repayment terms to ensure you choose an affordable option.
Source: Axis Bank
Quick processing and approval
Axis Bank ensures a quick loan processing time. On average, you’ll get your Axis education loan processed in just 7-10 working days, with disbursements happening soon after. Once approved, you’ll have access to flexible repayment terms, making it easier to manage your finances after your studies are complete.
Repayment options
With Axis Bank, you get flexible repayment options that suit your needs. Axis Bank offers various loan repayment terms, with options of up to 20 years. While repaying, you can choose between paying EMI during the course or after a moratorium period. However, the interest may accrue, depending on the loan terms.
Note: Moratorium period is the time duration during which you’re not required to make payments toward your education loan.
Learn more about international student loans from the Funds section of our app.
Features of the Axis education loan
| Feature | Description |
|---|---|
| Loan amount | Maximum unsecured/non-collateral loans are usually up to INR 50 lakhs, depending on the co-applicant’s income and credit profile. For collateral, it depends on the collateral value. |
| Rate of interest | 10.75% to 12.5% |
| Co-applicant’s minimum income | INR 50,000+ |
| Processing fees | 0.75% of the loan amount + GST |
| Processing time | 7-10 working days |
| Moratorium period | Course duration + 6 to 12 months (standard; may vary by case) |
| Repayment tenure | 10-15 years |
| Monthly instalments during the course | Simple interest |
How to apply for the Axis education loan through Edvoy
To apply for an education loan through Edvoy, follow these steps:
- Head to the Edvoy app and select Funds under the Explore page.
- Select the Get Started button and fill in your requirements.
- Add the loan amount (you can include both tuition fees and living expenses), the type of loan required and your details.
- Once you submit your details, they’ll be shared instantly with Axis Bank. You can expect a callback within 24 hours regarding further steps and document submission.
- You can check your application status in the Status tab.
- Get your loan approved within 2-3 working days (subject to document completion).
Also read: What is Edvoy Funds? What are the types of funds provided?
Axis Bank education loan: Eligibility criteria
- You must be aged 18+
- You must have a strong academic background and confirmed admission to the university before the loan disbursement
- You should be an undergraduate or graduate student within 2 years of graduating or about to begin a 1-year or 2-year programme
- You must meet Axis Bank’s credit and underwriting norms as applicable from time to time
- The eligible courses for the loan include STEM, non-STEM & Management courses and post-graduate degrees offered by foreign institutes and universities
Note: Conditions apply. All education loans from Axis Bank are credited at the sole discretion of Axis Bank.
Check out 'Funds' on our app for a pre-approved student loan!
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Documents required for the loan application
From the borrower/student
- University admission letter and university fees structure
- Passport, PAN card, and Aadhar card
- 10th and 12th class mark sheets
- Provisional certificate, consolidated mark sheet/transcripts and degree certificate
- Standard exam results (GRE/GMAT/TOEFL/IELTS/SAT/ACT/others)
- Passport-sized photographs
From the co-applicant/co-signer
- Current & permanent address proof, KYC documents (Aadhar card, PAN card, voter ID, driving licence), passport (if applicable)
Financial documents
If the co-borrower is salaried:
- Last 6 months’ salary slips
- Form 16/IT returns
- Bank statement/passbook (6 months)
If the co-borrower is self-employed:
- Business proof
- TDS certificate (if applicable)
- IT returns (3 years)
- GST documents (if applicable)
- Professional qualification certificate (if applicable)
- Bank statements (6-12 months, current & savings)
For collateral documents (if applying with property/security)
- Title deed & sale deed
- Registration receipt
- Allotment letter (if applicable)
- Chain documents (13 years)
- Property tax receipt/recent electricity bill
- Government-approved building plan
- Occupancy & completion certificate (if applicable)
Want to get financial support and study abroad? Connect with us and begin your journey. Right from your university selection, till loan application and disbursement, Edvoy helps you achieve your study-abroad dreams.
Additionally, we also offer end-to-end assistance throughout the study-abroad process, including university selection assistance, application guidance, visa application support, and more.
Get started with your journey and talk to one of our counsellors today!
Frequently asked questions
Can I use the Axis education loan for both living expenses and tuition fees?
Yes! Axis loans cover not just your tuition fees but also your living expenses, accommodation, travel, insurance, and even study materials. This means you can focus entirely on your studies without worrying about day-to-day finances while abroad.
Is there a penalty for early repayment of the Axis Bank education loan?
No. Axis Bank usually doesn’t charge any prepayment penalty, so if you want to pay off your loan earlier, you can do so freely and save on interest.
