Axis Bank Students Personal Loan

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Kirti Bansal
Kirti Bansal
Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of finance.
Reviewed By
Amit Prakash Singh
Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Axis Bank provides education loans to students, with the minimum loan amount starting at Rs. 50,000. These loans are designed to cover a variety of education-related expenses, such as tuition fees, hostel charges, and the cost of books for students. To be eligible, the applicant must be an Indian citizen. The interest rates for these loans are linked to the repo rate and vary based on the loan amount. Notably, girl students receive a 0.50% concession on the interest rate. Additionally, these loans come with the advantage of having no pre-payment or pre-closure charges. Axis Bank also caters to students aspiring to study abroad, offering loans up to INR 40 lakhs for specific high-ranking courses without requiring collateral. These offerings make Axis Bank a viable option for students seeking financial support for their education. 

Axis Bank Personal Loan for Students Highlights

Here are the basic highlights of Axis Bank Personal Loan for students. 

Maximum Loan Amount ₹75 lakhs
Maximum Loan Tenure 15 years 
Interest Rate 13.70%-15.20%

Comparing Axis Bank Student Personal Loans with Other Banks and NBFCs 

Here is a quick comparison of Axis Bank Student Personal Loans with other banks. 

Banks Interest Rates Processing Fees
Union Bank of India 11.30% p.a. onwards Nil
State Bank of India 8.15% to 11.15% p.a. No charged required for loan amount below Rs.20 lakh

Loan amount above Rs.20 lakh: Rs.10,000 (plus taxes)

Punjab National Bank 8.50% p.a. onwards Nil
IDFC FIRST Bank 9.00% p.a. to 15.00% p.a. Up to 1.5% of the loan amount
Bank of Baroda 10.95% to 11.75% p.a. No processing charges up to Rs.7.50 lakh

1% of loan amount up to Rs.10,000

Canara Bank 9.25% p.a. onwards for women borrowers

8.60% p.a. onwards for other borrowers

0.50% of sanctioned limit (Max. Rs.20,000)
Bank of Maharashtra 9.45% p.a. to 11.30% p.a. Nil
HDFC 9.50% p.a. onwards As per the criteria of the bank
Indian Overseas Bank For List ‘A’: 9.75% p.a. onwards

List ‘B’: 10.25% p.a. onwards

Contact the bank
ICICI Bank 9.85% p.a. onwards Up to 2% plus GST
Karnataka Bank 9.89% p.a. to 12.79% p.a. Contact the bank
Tamilnad Mercantile Bank 9.40% p.a. to 16% p.a. No processing charge for studies in India

1% of the loan amount for studies in abroad

Karur Vysya Bank 9.99% p.a. to 13.98% p.a. Nil
Axis Bank 13.70% p.a. to 15.20% p.a. 2% of the loan amount plus GST
IDBI Bank 10.60% p.a. to 11.10% p.a. Contact the bank
Bank of India 10.95% p.a. to 11.75% p.a. Study in India: Nil

Study in abroad: Rs.5,000

UCO Bank 11.70% p.a. to 12.10% p.a. Refer to the bank’s website
Federal Bank 12.55% p.a. onwards Contact the bank
Kotak Mahindra Bank Up to 16% p.a. Nil

Axis Bank Education Personal Loan – Fees & Charges 

The Axis Bank Education Personal Loan charges are as follows: 

  • Qualification Requirements: Applicants must have confirmed enrollment
  • Maximum Loan Value: Can extend to 75 Lakhs
  • Rate of Interest: Ranges between 10.5% and 15%
  • Fee for Processing: Accounts for 1% to 2% of the total loan sum

Axis Bank Education Personal Loan Documents

The following documents are required for the Axis Bank Education Personal Loan. 

  • Acceptance Letter from the Educational Institution
  • Completed Application Form for the Loan
  • Two recent passport-sized photographs
  • A detailed cost breakdown for the educational programme
  • PAN Card details of both the student and the Parent or Guardian
  • AADHAR Card information for the student and Parent or Guardian
  • Valid identification document (such as Driving License, Passport, Aadhar, or any other photo ID)
  • Address proof (could be Driving License, Passport, Utility bill, Telephone bill)
  • Bank statements for the past six months from the Student, Co-borrower, or Guarantor
  • Income Tax returns or assessment orders for the past two years for the Parent, Guardian, or Co-borrower if they are income taxpayers
  • Comprehensive list of assets and liabilities of the Parent, Guardian, or Co-borrower
  • Evidence of earnings like recent pay slips or Form 16 for the Parent, Guardian, or Co-borrower

Axis Bank Education Personal Loan Eligibility

The eligibility criteria for the Axis Bank Education Personal Loan are as follows: 

  • The student should be an Indian citizen
  • He or she must have secured at least 50% during HSC and graduation
  • Students who have obtained admission to courses such as Medicine, Engineering, Management, etc 
  • Students who have secured admission in India or Abroad through an entrance test/merit-based selection process after completing 10+2
  • Documents showcasing regular income are mandatory for the parent/guardian

Personal Loan By Banks

Frequently Asked Question (FAQs)

Can a student get a personal loan from Axis Bank?

Yes, if he or she meets the eligibility criteria, one can easily get a personal loan from Axis Bank.

How much of an Axis Bank Education Loan can a student get?

Depending on the requirement, a student is eligible to get a 75 lakh loan.

What CIBIL score is required for Axis Bank?

A healthy CIBIL score of 750 is required to get a personal loan from Axis Bank.

How can a student get a loan from Axis Bank instantly?

Upon meeting the eligibility criteria, a student can get a loan from Axis Bank instantly. 

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