Got more questions?
For any queries, locate the nearest branch.
Locate BranchesTo access the old website
Click Here
Education Loan
An Education Loan serves as a bridge between financial constraints and academic aspirations. Designed to support your academic journey, this loan helps you access quality education and shape your future, free from financial worries. With an Education Loan, you can pursue your passions and educational goals with confidence and much-needed peace of mind. So, seize the opportunity to shape your destiny with our Education Loan, which offers up to 100% coverage of your education expenses.
Great plans start with well-calculated decisions
Education Loan EMI Calculator
In a knowledge economy that we live in today, education plays a pivotal role. With an Education Loan, you can make your dreams come true. Students can directly apply for an Education Loan. But before you apply for an Education Loan, as a prudent loan planning exercise, assess how much the Equated Monthly Instalment will be. Axis Bank's Education Loan EMI calculator is an automated tool that will quickly let you know your EMI.
Total Amount Payable
₹ 1,37,621
Tax benefit calculator
Education Loan from Axis Bank helps you to finance higher education and save tax too. The interest paid on Education Loan availed can be considered as a deduction from the total income U/S 80(E).The Tax Benefit Calculator given below is an illustration on the Tax Benefit U/S 80(E).
Effective ROI
7.18 %
Features & Benefits
Avail high value loans
- Maximum without collateral – ₹1.5 crore
- Maximum with collateral – as per security/collateral value
Enjoy attractive Interest Rates
Get Repo Rate linked interest rates starting from (Repo + 3.5%)
Pre-admission sanction
Get sanction letter before admission based on your profile
No margins on Education Loans
- No margin on select institutes
- No margin on Education Loans up to ₹4,00,000
Read More
Avail loan for various courses
- Qualifications: Graduate, post-graduate, PHD, Executive programs, etc.
- Streams: Management, Medical, STEM (Science, technology, engineering, mathematics), etc.
Quick loan disbursal
Within 7 - 15 working days from the date of receipt of the complete Education Loan application along with all documents required by the bank for a proper appraisal.
Apply for an Education Loan with a Guardian
The parent(s) or guardian will be treated as a co-applicant on the education loan and his or her role would be that of the primary debtor.
Secure your Education Loan
Collateral security may be asked for appropriate cases
- Property
- Axis Bank Fixed deposits
Direct loan disbursal to university
Education Loan will be disbursed in full or in suitable instalments taking into account the requirement of funds and/or fee schedule as assessed by the Bank directly to
Read MoreMoratorium on select institutes
Get moratorium period of “course tenure + up to 12 months grace period” on select institutes as per bank’s policy
Read More
Interest Rate & Charges
Education Loan Interest Rates are the first thing that comes to your mind when you think of planning your academic journey. At Axis Bank, we understand the significance of knowing the interest on student loans, whether you are planning your higher education in India or abroad.
Interest Rate and Charges
Education Loan Interest Rates are the first thing that comes to your mind when you think of planning your academic journey. At Axis Bank, we understand the significance of knowing the interest on student loans, whether you are planning your higher education in India or abroad.
We offer Education Loans for students at competitive rates and cover 100% of your educational expenses.
By choosing our Education Loan, be assured of fast fast loan disbursement, and enjoy a hassle-free loan application process.
Our competitive student loan interest rates, personalised guidance, and convenient repayment options will give you a loan experience like no other.
| Loan Type | Loan Amount (₹) | Repo Rate | Spread | Effective ROI( Linked to Repo Rate ) |
|---|---|---|---|---|
| Education Loan | Up to ₹4 lakh | 6.50% | 8.70% | 15.20% |
| Loans greater than ₹4 lakh and up to ₹7.5 lakh | 6.50% | 8.20% | 14.70% | |
| Loans greater than ₹7.5 lakh | 6.50% | 7.20% | 13.70% |
- Current Repo Rate: 6 to 5.50%
- Frequency of Repo Rate Reset: Every 3 months or as determined by the bank, whichever comes first.
- The bank reserves the right to set the margin over the Repo Rate.
- This margin may change during the loan's duration.
- Customers who took out loans or received approval before October 1, 2019, will continue under the MCLR system. Existing customers interested in switching to the Repo Rate system should contact our customer service.
- * Repo Rate to checked at RBI website.
For MCLR-based loans:
- Marginal Cost Based Lending Rate (MCLR): 9.25%
- MCLR Reset Interval for education loans: Every Six Months.
| Schedule of Charges | |
|---|---|
| Scheme | Study Power |
| Loan Processing Charges | Applicable as per grid given below |
| Prepayment Charges | Nil |
| No Due Certificate | NA |
| Penal Charge | Financial Default*: 8% p.a. above applicable interest rate on the overdue amount (subject to the aggregate not exceeding 24% per instance). There shall be no capitalisation of Penal Charges. The said Penal Charges will be subject to GST as per applicable law on Goods and Service Tax in India, and GST will be charged separately. *Financial Default includes all types of payment or financial defaults/irregularities with respect to your Loan Account. |
| Cheque/ Instrument Swap Charges | ₹500/- + GST per instance |
| Duplicate Statement Issuance Charges | ₹250/- + GST per instance |
| Duplicate Amortization Schedule Issuance Charges | ₹250/- + GST per instance |
| Duplicate Interest Certificate (Provisional/Actual) Issuance Charges | ₹50/- + GST per instance |
| Cheque/Instrument Return Charges | ₹339/- + GST per instance |
| Conversion charges for switching from Floating to Fixed and Vice-versa | 1% of the outstanding principal with a minimum of ₹5000/- + applicable GST |
Education Loan Charges ( Applicable from 1st August, 2022 )
Processing fees up to 2% of the loan amount + GST
W.E.F 1st August, 2022
Goods and Services Tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
For further details, please click here
Types of Education Loan
Terms & conditions applied*
Eligibility criteria for an Education Loan
Specific criteria must be met to be eligible for an Education Loan from Axis Bank. Axis Bank offers Education Loans for students pursuing studies in India and overseas. Loans start from ₹50,000 and come with appealing Interest Rates, including benefits like no charges for early repayment or closure. Below are the eligibility requirements for securing a student loan from Axis Bank.
Why Axis bank
- Pre-admission sanction
- Maximum tenure including Moratorium period cannot exceed 20 years
- Unlimited Tax benefits u/s 80 E (Exemption applicable for old tax regime)
- Flexible repayment options
- Transfer existing loan at Nil fees
- Competitive Intertest Rates
- No TCS on Remittance*
- No foreclosure charges
- Zero margin on select institutes
- Pre-visa Disbursement facility available
*T&C Applied
Do’s and Don’ts about Education Loan
Securing an Education Loan online or offline is a significant step towards financing your dreams of higher education. Whether you are pursuing undergraduate studies, postgraduate courses, or specialised programs, don't let the lack of funds become a barrier to fulfilling your dreams and aspirations.
To help you navigate this journey successfully, we have compiled a list of essential do's and don'ts. These guidelines will assist you in making informed decisions, avoiding common pitfalls, and ensuring a smooth experience throughout your Education Loan application and repayment process.
Do’s
Don’ts
Your Credit Score Matters
Know and improve your Credit Score to better plan for your future finances.
Know MoreFrequently Asked Questions
Axis Bank provides Education Loans for students who wish to pursue career-oriented courses such as medicine, engineering, management, etc. either at the graduate or post-graduate level, in India or abroad. If you have any queries regarding Axis Bank's Education Loans make sure to read the Education Loan FAQs.
One of the primary reasons for considering an Education Loan is to ensure that you take advantage of the opportunity for education and are not held back due to a lack of funds.
Education loans offer several advantages, including 100% financing that covers course fees and living and travel expenses. Additionally, they provide tax benefits, competitive interest rates, and the flexibility of a moratorium period.
There is no margin for education loans upto Rs. 4 Lakhs. For loans above Rs. 4 Lakh, the margin for studies within India is 5% and for studies overseas is 15%.
The Reserve Bank of India (RBI) vide its circulars no DBR.DIR.BC.No.14/13.03.00/2019-20 on “External Benchmark Based Lending” dated September 04, 2019 and circular no. DBR. Dir. No.85/13.03.00/2015-16 on “Interest Rate on Advances” dated March 03,2016 , updated as on September 04,2019 has advised to link all new floating rate personal or retail loans (housing, auto, etc.) and floating rate loans to Micro and Small Enterprises extended by banks with effect from October 01, 2019 to external benchmark which can be one of the following:
- Reserve Bank of India policy repo rate
- Government of India 3-Months Treasury Bill yield published by the Financial Benchmarks India Private Ltd (FBIL)
- Government of India 6-Months Treasury Bill yield published by the FBIL
- Any other benchmark market interest rate published by the FBIL.
In line with the above circular, Axis Bank has adopted Repo rate as the external Benchmark lending rate with effect from October 01, 2019.
All floating rate loans will be linked to REPO RATE. The rate offered to you shall be the REPO RATE plus spread. It may be noted that the Repo rate would be reset every three months.
Further, the Bank is free to decide the spread over the Repo Rate. The spread may undergo a change during the tenure of the loan.
The Repo Rate would be reset every three months. The impact would be given on loan tenure first, however if maximum tenure has already been availed then the EMI would have to be modified.
To be eligible for an Education Loan, you should fulfill the following conditions:
- Be an Indian citizen
- Have a minimum score of 50% in HSC and graduation
- Secure admission to career-focused courses such as medicine, engineering, management, etc, at either graduate or post-graduate level
- Secure admission in India or abroad based on entrance exams or a merit-based selection process after completing HSC (10+2)
- Provide proof of regular income of co-applicants i.e. parents, sibling or guarantor
Your co-applicant can be your spouse, parents, siblings or parent-in-law
Education loans do not impose a prepayment penalty. Nevertheless, you should verify this with your loan officer as it can vary on a case-by-case basis.
Education loans have a moratorium period which includes the course duration plus an additional six months (which can be extended to 12 months), allowing you to focus on your studies without immediate financial obligations. During the moratorium period, you have pay simple interest on the amount disbursed. The EMI starts once moratorium period ends.
There are no prepayment charges
Financial Default*: 8% p.a. above applicable interest rate on the overdue amount (subject to the aggregate not exceeding 24% per instance). There shall be no capitalisation of Penal Charges.
*Financial Default includes all types of payment or financial defaults/irregularities with respect to your loan account.
The Bank will convey its decision within 15 working days from the date of receipt of the education loan application, provided the application is complete in all respects.
New customer at REPO RATE : - All new floating rate loans and credit limits renewed with effect from October 01, 2019 will be linked to Repo rate.
Existing customer at MRR/BPLR/Base rate/MCLR: - Existing loans and credit limits linked to MRR/BPLR/Base rate/MCLR shall continue till repayment or renewal, as the case may be. Only if existing customers approach us and give request for switching from MRR/BPLR/Base rate/MCLR to REPO RATE then only it will be changed. Once transitioned to REPO RATE, the customer can’t switch back to the old benchmark rates.
Bank will publish the Repo rate every month on a pre-announced date. The rate applicable to you would be the prevailing repo rate for that month.
For all loans linked to Repo rate, the reset frequency would be three months.
Yes! You can switch from a floating rate of interest to a fixed rate of interest and vice versa Charges
| Charges | Details |
|---|---|
| Conversion charges for switching from Floating to Fixed and Vice-versa | 1% of the outstanding principal with a minimum of Rs.5000/- + applicable GST |
This option can be exercised 3 times during the tenor of your loan as per the bank’s approved policy, effective 01 Jan 2024.
Please visit your nearest loan center to execute the supplementary agreement along with signature of all the borrowers carrying Photo ID and Signature proofs.
YES, for all floating rate loans/credit facilities, if customer is on MRR/BPLR/Base rate/MCLR, customer can give request to move to REPO RATE. Hence, the benchmark rate and spread shall undergo a change.
- In case the effective rate is being kept the same, only an administrative fee shall be charged from you.
- In case the effective rate is being reduced, the bank shall charge a switch fee in addition to the administrative charges in line with the Bank’s pricing policy.
You are requested to visit the nearest loan center along with the co-applicant(s) and/or guarantor(s), since there would be additional documentation involved.
No, there is no option to move back from REPO RATE to Base rate/BPLR/MRR/MCLR.
YES, Base rate/MCLR will be reviewed by the Bank from time to time and it may or may not change.
Applicable REPO RATE for each month will be updated on Axis Bank Website.
You will come to know through our Website / SMS / Email/ letter as deemed fit.
Any foreclosure/excess amount paid by you to the Bank; shall be appropriated in the loan account basis the below criteria/methodology in the absence of any specific instructions from you:
- Excess amount greater than (>) EMI: If service request (SR) for part payment is not created/received within 2 days of receipt of funds, the excess funds will be adjusted towards principal outstanding as part payment.
- Excess amount equal to (=) EMI: If service request (SR) / instructions for part payment is not created/received on same day of receipt of funds, excess amount will be refunded to your operative account.
- Excess amount less than (<) EMI: Excess amount will be kept unappropriated in the Loan account for 15 days. Post 15 days, the excess funds shall be adjusted towards principal outstanding as a part payment.
- Excess amount equal to (=) or greater than (>) foreclosure / pre-closure amount : In case no instructions are placed by you at the Loan Centre / Phone Banking within 3 working days from the date of credit in Loan account and:
- Excess amount is equivalent (=) to the foreclosure amount, Loan account will be proactively closed by the Bank.
- Excess amount is greater than (>) the foreclosure amount, adjustment in Loan account would be as follows:
- If excess amount is up to INR 20,000, Loan account would be closed by the Bank and after closure, excess funds would be credited to the Loan repayment account.
- If excess amount is greater than INR 20,000, the Bank will connect with you telephonically for verification of payment. Alternatively, you may connect with the Bank on 18604195555 to confirm the credit adjustment in your Loan account.
- Excess amount less than (<) the foreclosure amount: In case no instructions are placed by you at the Loan Centre / Phone Banking within 3 working days from the date of credit in Loan account, then excess amount will be adjusted against the outstanding principal, leaving an amount equivalent to one EMI for forthcoming EMI presentation. However, in case you would like the entire amount to be adjusted against the outstanding principal, please place a request at Phone Banking / Loan Centre at the earliest.
Learning Hub
Look through our knowledge section for helpful blogs and articles.
Copyright@ 2025 Axis Bank