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Education Loan

Fuel your dreams with financial assistance for professional or technical education in India or abroad.


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Prime Institute (India) & (Abroad)

Special Rate of Interest offering


As per Axis Bank's Prime institutes approved list

Loan Amount

Minimum - Rs. 50,000; Maximum - upto Rs. 75 lakhs*


*Upper limits may be extended for special cases.Loan amount eligibility will be derived as per Bank's policy

Key Benefits

No Processing Fees
No Pre-Payment Charges
No Pre-Closure Charges

Features and Benefits

Central Government Interest Subsidy Scheme for Economically Weaker Section for Education Loans

Government of India, Ministry of HRD vide letter no. F. 11-4/2010 – U.5(i) dated 25th May 2010 have formulated a scheme to provide full interest subsidy during the period of moratorium i.e. Course Period plus one year or six months after getting job, whichever is earlier. This scheme is available for loans taken by students belonging to economically weaker sections (EWS) (where annual parental income from all sources is up to and inclusive of `4.5 lakhs)

under the IBA approved Model Educational Loan Scheme, for pursuing any of the approved courses of studies in technical and professional streams, from recognized institutions in India.

Salient Features of the Scheme are :

The Scheme is applicable to all students satisfying the eligibility criteria of the IBA approved Model Educational Loan Scheme, subject to complying with the conditions of the Interest Subsidy Scheme. The Scheme is applicable only for studies in India and is available to Educational Loans up to and inclusive of `10 lakhs.

  • The interest payable by the student belonging to EWS and satisfying the eligibility criteria of the scheme, during the period of moratorium on the amount of disbursements made on or after April 1, 2009 will be borne by the Government of India.
  • The interest subsidy under the scheme shall be available to the eligible students only once - For under graduate course or the post graduate degree /diploma course in India. Integrated courses(combined graduate plus post graduate) would also be considered under the scheme.
  • Interest subsidy under this scheme shall not be available to the students who discontinue the course midstream, or who are expelled from the Institutions on disciplinary or academic grounds. Interest subsidy is permitted, in case of discontinuation due to medical grounds for which necessary documentation to the satisfaction of the Head of educational institution is submitted.
  • State Government has designated appropriate authority or authorities who are competent to issue Income certificate, based on economic index and not social background, for the purpose of this scheme
  • Interest rates charged on the loan shall be as per interest rates applicable under our Education Loan Scheme
  • List of accredited universities/institutions and recognized professional courses which are administered by the Ministry of Tourism and are eligible for Interest Subsidy Scheme are updated on our website. Clicking here
  • List of Technical / Professional courses for which the scheme would be applicable shall be publicised from time to time by UGC and AICTE and the same would be immediately displayed at their websites, which may be accessed for verification purposes.

Following documents need to be submitted at the time of sanction of loan:

Income Certificate issued by appropriate authority/authorities designated by respective State Government


Bonafide Student Certificate

If the student is qualifying for the subsidy scheme, the Interest Subsidy Agreement, Letter of undertaking cum Declaration needs to be signed by the borrowers


  • What is the time-frame for application decisioning?

Bank will convey its decision within 15 working days from the date of receipt of the application provided the application is complete...

  • What is the margin for Education loans?

No margin for education loans upto Rs 4 lacs. For loans above Rs 4 lacs, 5% margin for studies within India and 15% for higher studies...

  • What is the role of a guardian/parent in an education loan?

The parent(s) or guardian of the student would be treated as a co-applicant of the student loan. His or her role would be, necessarily...


Education loan

Get Axis Bank Education Loan

And fuel your dreams for higher education, in India or abroad



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