Vidya Lakshmi Portal Axis Bank: Application Process, Interest Rates & More

Vidya Lakshmi Portal Axis Bank
Home » Education Loan » Vidya Lakshmi Portal Axis Bank: Application Process, Interest Rates & More

Axis Bank is one of the most popular lenders when it comes to education loans for studying abroad. The Vidya Lakshmi portal was developed on August 15, 2015, in order to facilitate students with education loans for higher studies. The portal has a huge network of 44 banks and Axis Bank is one of those lenders standing on the front line. Whether you are planning to study in UK or worried about your cost of living in London the loan will cover all of it. Let’s go through all the major features of Vidya Lakshmi Portal Axis Bank education loan.

Vidya Lakshmi Portal Axis Bank Education Loan

The major aim of the Axis Bank Education Loan is to provide the required financial support to deserving students who want to pursue higher education in India and abroad. The bank will not charge any loan processing fee for studies in India. For an education loan to study abroad there will be a processing fee which will be refunded post-admission. Check some of the key factors of Axis Bank Vidya Lakshmi Education Loan:

Categories Description
Mode of ApplicationOnline through Vidya Lakshmi Portal
Expenses Covered University’s tuition fees, hostel charges, cost of books, etc.
Maximum Amount for Study AbroadINR 75 lakhs (as per bank’s official website)
Rate of InterestFloating rate of Interest, Linked to Base Rate
Repayment Period15 years maximum
Moratorium Period INR 75 lakhs (as per the bank’s official website)

Also Read: Canara Bank Vidya Lakshmi Education Loan

How to Apply for Vidya Lakshmi Axis Bank Education Loan

Students can apply for Vidya Lakshmi Axis Bank Education loan through the official website of the portal. You need to register initially to create your profile for the application. Important details like name, contact details, desired course, total cost of study etc are required to be mentioned. Check out all the steps involved in order to apply for the Vidya Lakshmi Axis Bank education loan:

  • Log on to the official website of the Vidya Lakshmi Portal
  • Register yourself by providing important details like name, date of birth etc 
  • After creating the dashboard, click on Loan Application Form
  • Enter the details properly like your relationship with the bank, category and scheme of loan, details of securities, supporting documents showing prospects of earning after finishing the course etc. 
  • Mention your university fee and other expenses and the total loan amount required
  • Submit the required documents within the permissible size of the file
  • The bank will contact you for further processing.

Axis Bank Vidya Lakshmi Education Loan Interest Rate

Axis Bank education loan interest rate will vary depending upon the amount of the loan taken by the students. The bank will also provide some rebates to the female candidates based on the amount of the loan. All the terms and conditions regarding the interest rate for education loans have been framed as per the directions provided by IBA. Check the break up of the interest rate for Axis Bank Vidya Lakshmi Education Loan interest rate:

Amount of LoanRate of Interest
Up to INR 4 lakhFor Male Student: MCLR +7.00% (Floating)For Female Student: MCLR +6.50% (Floating)
INR 4 lakh to 7.5 lakh For Male Student: MCLR +8.00% (Floating)For Female Student: MCLR +7.50% (Floating)
Above INR 7.5 lakhFor Male Student: MCLR +6.00% (Floating)For Female Student: MCLR +5.50% (Floating)

Axis Bank Vidya Lakshmi Education Loan Eligibility Criteria 

There are certain eligibility criteria laid out by the Axis Bank for education loans. However, the eligibility criteria have been decided as per the terms and conditions prescribed by the IBA. Check out some of the main eligibility criteria below:

  • The student must be an Indian Citizen holding an Indian Passport.
  • Students must have secured admission into a recognized university through the Entrance Test or Merit Based Selection process after completion of HSC (10 plus 2 or equivalent).
  • The minimum and maximum age to apply for education shall be 18 years and 35 years respectively.

Also Read: Vidya Lakshmi Education Loan SBI

Vidya Laxmi Portal Axis Bank Education Loan: Terms & Conditions

The student is suggested to understand clearly all the terms and conditions provided by the bank before applying for the loan. We have already provided the major terms and conditions regarding loan amount, interest rate, eligibility criteria etc. Check out some other terms and conditions provided by the bank below:

  • The bank will not charge any margin for education loans up to Rs 4 lacs. 
  • For loan amounts exceeding INR 4 lacs, 5% margin for studies will be required within India and 15% for higher studies abroad.
  • The role of parent(s) or guardian of the student will be considered as a co-applicant and they will be also treated like the primary debtor. 
  • No security or collaterals are required for a loan up to INR 4 Lakhs.
  • For amounts exceeding INR 4 Lacs and below INR 7.5 lakhs a third-party guarantee will be required.
  • If the amount exceeds INR 7.50 Lakhs then a tangible collateral security of suitable value shall be provided.


What is the rate of interest for an Axis Bank education loan from the Vidya Lakshmi portal?

The rate of interest for education loans from Axis Bank will vary depending on the loan amount. Usually, the bank charges a Floating rate of Interest linked to the Base Rate.

Can I get a collateral-free loan from Axis Bank through Vidya Lakshmi Portal?

You can get a collateral-free loan from Axis Bank up to INR 4 lakhs. Any amount above that will require some kind of collateral subject to the terms and conditions of the bank.

What is the maximum repayment period for an education loan from Axis Bank?

The students will get a maximum repayment period of 15 years from Axis Bank.

Axis Bank is one of the major banks known for education loans in India. Through the Vidya Lakshmi portal, you can get the loan online without even visiting the branch. Apply online and know all the terms and conditions properly before you start your study abroad journey. 

To know more about the Vidya Lakshmi loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience. Follow our social media handles on Twitter, LinkedIn and Instagram

About Shekhar Suman

Shekhar is a versatile writer with a passion for sharing knowledge and creativity. With expertise in crafting informative blogs on study abroad and finance, Shekhar helps readers navigate the complexities of education and financial planning. Most of his writings blend the practicality of finance and the beauty of language, making a meaningful impact in both spheres. Beyond his professional pursuits, he finds solace in the writing Shayari.

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