Axis Bank
Education Loan

Applicant Form

Duly filled and signed form with two passport-size photographs

Age Limit

Both the applicant and co-applicant should be over 18 years of age.

Admission

Must have secured admission in India or abroad through a merit-based or entrance exam-based selection process after completing HSC (10+2).

Loan Amount

Unsecured Loans:
-Up to ₹50 lakh for studies in India.
-Up to ₹1.5 crore for studies abroad. Secured Loans:
-No upper limit; subject to the value of collateral provided.

Credit Score

A score above 600 is generally considered favorable for unsecured loans.

USP

Repayment can start after course completion + 6–12 months, allowing students to focus on studies.

Documents Required & Application Process

1. At the Time of Application

  • Application Form: Duly filled and signed form with two passport-size photographs

  • Academic Records: Mark sheets and certificates from SSC (10th), HSC (12th), degree courses, and any national-level entrance exam (if applicable)

  • Admission Proof + Fee Schedule: Offer/admission letter from the institution, including the course fee breakdown

  • Identity & Address Proof (for student and co-applicant): Aadhaar, PAN, passport, driving license, voter ID, recent utility bills, rental agreements, bank statements, etc.

  • Age Proof: Aadhaar, PAN, passport, birth certificate, or driving license

  • Income Proof (co-applicant): Last 2 years’ ITR, salary slips, Form 16, and income computation certified by CA.

  • Bank Statements / Passbook: Last 6 months’ statements for both applicant and co-applicant.

  • Guarantor Form: Required when applicable (e.g. higher loan amounts)—optional for smaller loans

2. For First Disbursement

  • Demand Letter from the university/college

  • Loan Agreement & Sanction Letter, signed by student and co-applicant

  • Disbursement Request Form, signed by both parties

  • Margin Money Receipts: Proof of down payment to the institution, along with bank statement showing transaction

  • Collateral Documents: If pledged (e.g., property), include necessary paperwork

  • Form A2: Required for overseas education, signed by applicant or co-applicant

3. For Subsequent Disbursements (in installments)

  • Demand Letter (rollover from previous disbursement)

  • Signed Disbursement Request Form

  • Receipts for Margin Money Paid, along with bank statement

  • Academic Progress Proof: Exam mark sheets, progress report, or bonafide certificate

  • Form A2: Required again for foreign institutions