Axis Bank vs Auxilo: Find the Best Education Loan

International education is one of the most transformative steps an Indian student can take.

But the cost continues to be a real barrier. Tuition and living costs abroad keep rising, but the cost and ease of borrowing in India have not become any easier.

I see students asking variations of the same question again and again. Which option actually works better for my financial profile, timing, and repayment needs?

Two options that come up repeatedly in student discussions are Axis Bank and Auxilo. One is a bank, the other is an NBFC.

So, let’s compare the two lenders on loan features like coverage, costs, processing time, and repayment flexibility.

Axis Bank vs Auxilo (Overview)

Axis Bank (Private Bank) works best when your profile matches the bank’s underwriting: 

• strong collateral 
• stable co-borrower
• documents in order

The bank offers a long repayment tenure up to 20 years (including moratorium) and zero margin on select institutions. 

Auxilo (Education-focused NBFC) is an alternative to traditional banks. It offers only study loans with flexible 100% financing and quick sanction timelines for students.

At GradRight, we typically see students get clarity faster when they compare lender offers side-by-side instead of committing early. 

Here is a quick comparison of Axis and Auxilo’s core loan features.

Axis Bank vs Auxilo: Loan amount, collateral, and coverage

Axis Bank offers education loans typically from ₹50,000 up to ₹75 lakh. But for larger amounts (above ₹7-10 lakh), they require security/collateral such as property, FD, NSC, etc. A co‑applicant with stable income is also a prerequisite. 

Coverage: Covers tuition, hostel/boarding, books, equipment, and related “education costs.”

Secured loan: Up to ₹1.5 cr (more with premium collateral); lower spread if property / FD covers over 125 % of loan.

Unsecured loan: Up to ₹75 lakh for marquee global programmes (STEM, MBA) when co-borrower’s income is robust.

Margin money: 0 % on loans less than ₹4 lakh; 5 – 15 % above that.

Auxilo’s NBFC model gives unsecured loans up to ₹45 lakh for study abroad destinations like the USA.

Unsecured options: Depending on profile strength and academic credentials.

Coverage: Auxilo explicitly markets 100% financing that includes tuition, living expenses, travel, and pre‑visa.

So, Auxilo might potentially give you access to simpler eligibility rules. But the actual amounts and terms depend heavily on your profile and documentation.

Axis Bank vs Auxilo: Eligibility criteria

Banks like Axis usually have more detailed documentation and profile checks. While NBFCs like Auxilo lean on admission proof and academic profile. 

Here is the basic eligibility criteria for the two lenders:

Axis Bank 

• Indian citizen
• Minimum 50% marks in HSC and graduation
• Admission to career-focused courses (UG/PG)
• Co-applicant income proof is mandatory (parent/sibling/guarantor) 

Auxilo

• Student: Indian citizen, 18+, confirmed admission before disbursement

• Loan must be co-signed by an earning co-borrower in India
• Co-borrower: Indian citizen; must have an Indian bank account with cheque facility

In practice, Auxilo might be relatively easier to be eligible for a wider range of profiles. 

Axis Bank vs Auxilo application process: Which is faster or easier?

The application process for both lenders is mostly similar as both use online documentation. But there are subtle differences between the two.

Axis Bank application process

Pre‑application: Fill out Axis Bank’s education loan form (online or in‑branch).

Document submission: Upload identity, admission, academic marks, co‑applicant income proofs etc.

Verification: KYC and credit assessment; property valuation.

Sanction letter: Issue of offer letter once credit checks and valuations pass.

Overall, Axis’s broader banking process can take a bit more time than NBFCs.

Auxilo application process 

Start with the Auxilo online form: It pairs applicants with an advisor to customize loan structuring.

Document upload & verification: You submit academic, admission, and co‑applicant docs.

Offer & disbursement: Loan sanctions and “proof of funds” letters before boarding, which can help with embassy/visa processes.

Overall, Axis follows strict internal workflows and documentation checks because they juggle many risk layers (credit, collateral, documentation).

While Auxilo’s process is more streamlined and can feel faster and more guided.

Axis Bank vs Auxilo: Document requirements

The documents for applying for a study abroad education loan are normally the same for most Indian lenders.

Documents for Axis Bank loan: 

• KYC 
• bank statements (last 6 months)
• admission letter
• fee schedule
• marksheets

Documents needed for an Auxilo loan: 

• PAN/Form 60
• OVD options like passport/voter ID/driving license/Aadhaar with masking
• Address proof

Other documents like co-signer income, credit information and collateral paper are also needed for secured loans. 

Axis Bank vs Auxilo: repayment process

Repayment process matters not only because of monthly cash flows, but also because of how interest accrues during study and post‑study moratorium structures. 

Axis allows for a moratorium over the course period plus 6 months to 1 year post course. The bank also allows prepayment/foreclosure without penalty.

Auxilo also offers a moratorium during the course period and about 1 year moratorium on study abroad loans. 

Some Auxilo loan plans also allow partial simple interest during study, which can reduce the initial cash flow burden.

Which is better?

There is no one universal lender that is better than the other. 

But Axis Bank might suit you more if:

• You have good collateral (house, flat, fixed deposits) and a stable co-borrower income.
• You are okay with margin money and want a lower interest rate to keep EMIs manageable long-term.
• You have a relationship with a large bank (existing account, branches nearby, other products later).

Auxilo would be a good choice if:

• You need 100% funding because your family can’t cover the margin money comfortably.
• Your profile/college/course does not fit Axis’s unsecured list, or family’s income documentation is messy.
• You prefer a lender that is used to only doing education loans, with custom structuring and relatively faster sanctions.

But Indian banks and NBFCs are not the only option for students who want to study outside India. International lenders are becoming more and more common for non-collateral and co-signer study abroad loans.

“My father doesn’t have a monthly income. … I struggled to get a loan from Indian banks because they kept asking me for documents I found GradRight and my financial adviser told me about lenders like Prodigy. I am so happy to have GradRight, I am finally in the US.”

         —- Sasipriya Kota, who studied Master’s in Computer Science at Wright State University.

GradRight’s loan search platform lets you start loan applications early and compare loan terms with multiple lenders in the same place. We have helped over 60,000 students secure study abroad financing with the right lender.