When it comes to study abroad education loans in India, Axis Bank and HDFC are two names that come up almost every time.
And honestly, the confusion is completely understandable.
As a GradRight advisor, this is one of the most common questions I hear. In fact, when we hosted ShiftEd, a study abroad networking event that brings together students, lending institutions, and leading international institutions, “Which bank is better for me?” was among the most frequently asked questions by students and parents.
That’s exactly why I wanted to put together this comparative guide. I hope that this information will help you to make an informed decision by properly comparing study abroad education loans from Axis Bank vs HDFC.
Let’s break it down.
Key Factors of Comparison Between Axis Bank vs HDFC Education Loans
When comparing Axis Bank vs HDFC education loans, here’s what truly matters.
1. Loan Amount Range
Education loans from Axis Bank start at about ₹50,000. The loan amount can reach ₹1.5 crore with collateral. Depending on your profile, Axis typically funds up to ₹50–75 lakhs for unsecured loans.
HDFC, through HDFC Credila, offers collateral-free loans up to ₹45 lakh. If you’re willing to provide collateral, there’s practically no upper limit. The sanctioned amount depends on the value of the security.
So for most students looking at small to mid-range loans, either option works well. But if your course is expensive and you’re aiming for a higher loan amount, HDFC is more flexible.
2. Interest Rates
Starting at Repo + 3.5%, Axis Bank offers floating interest rates that are based on the repo rate. Your ultimate rate is determined by a number of criteria, including the course you are taking and the financial profile of your co-applicant.
HDFC Credila also offers floating rates, ranging between 8.6% and 13%. The precise rate, again, is determined by your country of study, collateral, co-applicant profile, and academic history.
Now, comparing floating rates can be tricky because they’re never one-size-fits-all. In practice, both banks are competitive. What really moves the needle is your co-applicant’s income stability and credit history.
Pro Tip: Always check personalised loan offers instead of relying on advertised interest rate ranges.
3. Collateral and Co-Applicant Requirements
For higher value study abroad loans from Axis Bank, collateral is needed. Residential or commercial property, as well as occasionally fixed deposits, can be used for this. Proof of income must be submitted by a co-applicant, who is typically a parent or guardian. Unsecured loans are also available from Axis, but only for lesser loan amounts.
HDFC Credila follows a similar structure, offering collateral-free loans up to ₹45 lakh. This is particularly helpful for families who may not want (or be able) to pledge property. A co-applicant with steady income is still mandatory.
Put simply, if you have solid academics and a reliable co-applicant, both banks can work. HDFC Credila is often preferred for higher unsecured loans. Axis Bank fits well when collateral is available.
4. Loan Coverage
Axis Bank study abroad education loans cover:
- Tuition fees
- Living expenses
- Hostel charges
- Travel
- Insurance
- Visa costs, and other related expenses
HDFC Credila covers all that, plus books, study equipment, and sometimes even 1 economy-class flight ticket too.
This point is more important than it seems. Many students underestimate living costs, travel, and miscellaneous expenses. A loan that covers most education-related costs helps you avoid last-minute financial stress.
5. Eligibility Requirements
Axis Bank and HDFC Credila have somewhat similar eligibility requirements, which include:
- Citizenship in India
- A parent or guardian who is a co-applicant and has proof of income
- Verified acceptance to an accredited international university
- Academic achievement, often at least 50% (depending on the course and nation)
Meeting basic qualifying requirements is rarely a problem for the majority of Indian students who want to study overseas. The loan amount, collateral, and flexibility are the key distinctions.
6. Repayment Terms and Flexibility
Axis Bank offers a moratorium covering the course duration plus a short grace period thereafter. Repayment tenure can go up to 15 years.
HDFC Credila also provides a moratorium for the course period, plus 6–12 months after you start working. The maximum repayment tenure usually goes up to 14 years.
Both banks allow prepayment without penalties, which is a big advantage if you plan to close your loan early once your income stabilises.
7. Application Process and Turnaround Time
Axis Bank allows applications both online and through branches. Once all documents are in place, processing usually takes about 7–15 working days.
HDFC Credila follows a similar process and is known for relatively quick approvals and disbursals. If you’re racing against visa or university deadlines, both banks are reasonably dependable in terms of timelines.
Quick Comparison
| Feature | Axis Bank | HDFC (Credila) |
| Loan Amount | ₹50,000 – ₹1.5 cr (with collateral); ₹50–75 L unsecured | ₹50,000 – ₹45 L unsecured; no limit with collateral |
| Interest Rate | Floating: Repo + 3.5% | Floating: 8.6–13% |
| Collateral | Required above thresholds; property/FD | Collateral-free up to ₹45 L; property/FD/insurance accepted |
| Co-Applicant | Parent/guardian | Parent/guardian |
| Coverage | Tuition, living, travel, insurance, exams | Tuition, living, travel, insurance, exams, books, equipment |
| Eligibility | Indian citizen, ≥50%, recognized university | Indian citizen, confirmed admission, recognized university |
| Repayment/Moratorium | Course + grace; max 15 yrs | Course + 6–12 months post-job; max 14 yrs |
| Processing Time | 7–15 days | 7–15 days |
| Prepayment Charges | Nil | Nil |
Overall, Axis Bank may suit you better if:
- You have collateral and want a traditional banking process
- You’re looking for a moderate loan amount
- You prefer easy access to physical branches
HDFC Credila may be a better fit if:
- You need a higher unsecured loan
- Your co-applicant has strong income but limited property
- You’re applying to high-cost programs in countries like the US, UK, or Canada
Beyond the Basic Comparison: Making an Informed Final Choice
Everything you read online (including this comparison) is a great starting point. But here’s something I always remind students: no two loan offers are the same, even from the same bank.
Your final interest rate, loan amount, and terms depend entirely on your profile. That’s where comparing personalized offers makes a real difference.
At GradRight, we offer you a platform where 15+ banks and NBFCs, including Axis Bank and HDFC Credila, evaluate your profile and share real loan offers. Instead of applying separately to multiple lenders, you get to see these offers side by side. You can then choose what actually fits you best. Along the way, we guide you through the decision so you’re never guessing.
As one student, Marcos Blank, shared:
“The team was incredibly knowledgeable and guided me effectively…”
Overall, select a loan that will support your education without becoming a burden in the future, regardless of whether you’re comparing Axis Bank and HDFC Credila or looking at other lenders.
And that’s a decision worth taking your time with. At GradRight, we are ready to help you at every step in this decision journey. Write to us at grad@gradright.com with your questions or start exploring study abroad loan options here.
