Planning to study abroad? One of the biggest challenges is arranging the money needed. Tuition fees, flight tickets, living costs—it all adds up. That’s where education loans come in. But with so many banks offering loans, choosing the right one can get confusing. Many students and their parents often compare Axis Bank vs ICICI Bank when looking for a study abroad loan.

So, what’s the real difference between Axis Bank and ICICI Bank? Each bank has its own pros and cons. What suits one student might not suit another. The smart way to decide is by looking at key points—like how much loan you can get without giving collateral, how fast the bank processes your application, and how much interest you’ll pay overall. These simple details can have a big impact on your study abroad plans.

In this guide, we’ll explain everything in simple words and compare these two popular banks to help you make the best choice.

Eligibility Criteria - Axis bank VS ICICI

Both Axis Bank and ICICI Bank have similar rules for who can apply for an education loan. Knowing these early on helps you avoid delays or surprises later. Here’s what you usually need:

Common Requirements:

The student must be an Indian citizen.
They should have an admission letter from a recognized foreign university.
A co-applicant (parent, sibling, or spouse) with a regular income is needed.
Good academic performance.
A decent credit score (especially important if you're asking for a loan without collateral).

Unsecured Loan Eligibility Differences – Axis Bank VS ICICI

Axis Bank and ICICI might look similar on paper, but when it comes to giving loans without asking for property or security, they follow different rules:

ICICI Bank mostly gives loans without asking for property, only if you're going to a very highly ranked university abroad (like the ones in QS or Times Higher Education lists).
Axis Bank is more relaxed. If you or your co-applicant has a strong profile, they may give you a loan even if your university is not top ranked.
ICICI has a fixed list of accepted colleges. So if your college isn’t on that list, it might be harder to get a loan.

So, if you’re targeting a university that’s not among the global top 100, Axis Bank could be more open to giving you an education loan without collateral.

Loan Amount and Coverage – ICICI VS Axis Bank

Let’s see how much money ICICI VS axis bank gives and what it can be used for.

Feature	Axis Bank	ICICI Bank
Maximum Loan Amount	Up to ₹75 lakh	Up to ₹1 crore
What It Covers	Tuition, travel, living costs, insurance, books, and exam fees	Almost the same coverage
Collateral Needed	Not needed up to ₹40 lakh	Not needed up to ₹40–50 lakh

If you need a higher loan amount, ICICI Bank might be better. But for most students, ₹75 lakh from Axis Bank is more than enough.

Interest Rates – ICICI Vs Axis bank

The interest rate decides how much extra you will repay on top of the borrowed money. Let’s compare ICICI vs Axis bank

Bank	Interest Rate (Floating)
Axis Bank	9.5% to 11.5%
ICICI Bank	9.85% to 11.75%

Axis Bank has slightly lower starting rates. But remember, your final rate depends on your course, university, co-applicant’s income, and credit score. If your co-applicant (like a parent) has a strong credit score, you can ask for a lower rate.

Processing Time

Once you get your admission letter, you might be in a hurry. Let’s see how fast these banks process your loan.

Bank	Time Taken to Process Loan
Axis Bank	10–15 working days
ICICI Bank	7–12 working days

ICICI Bank is a little faster in approving the loan, which is helpful if your admission deadline is near.

Collateral Requirements

Collateral means giving something valuable (like a property or fixed deposit) as security for the loan. But both banks offer loans without collateral up to a certain limit.

Bank	No-Collateral Loan Limit	Collateral Needed Above
Axis Bank	Up to ₹40 lakh	Loans above ₹40 lakh
ICICI Bank	Up to ₹50 lakh (if profile is strong)	Loans above ₹50 lakh

ICICI Bank may offer a higher no-collateral loan amount, especially if your academic profile is strong.

Margin Money

Margin money means the part of your education cost that you or your family need to pay from your own pocket. The bank will give a loan for the remaining amount.

Bank	Margin Money You Pay
Axis Bank	0% to 15%
ICICI Bank	0% to 10% (less for top universities)

ICICI Bank often asks you to pay a smaller share of your total education cost, so you may need less money upfront.

Moratorium Period

The moratorium period is the break time you get before starting to repay your education loan. You don’t have to pay the loan during your course and for a few months after you finish studying. This gives you time to settle down or find a job before starting repayments.

Feature	Axis Bank	ICICI Bank
Time Before Repayment Starts	Course duration + 6–12 months	Course duration + 6 months
Do You Pay Interest During This Time?	Yes, simple interest	Yes, simple interest

Both banks give you a break from repayments during your course and a few months after. This helps you focus on your studies and start paying back the loan once you begin working.

Processing Fees

Processing fees are the charges banks take to check and process your education loan request. It’s a one-time cost that you pay when you apply, and it covers paperwork, background checks, and other admin tasks the bank does to approve your loan.

Bank	Processing Fee
Axis Bank	1.5% to 2% of loan amount + taxes
ICICI Bank	1% to 2% of loan amount + taxes

ICICI charges a bit less to handle your loan paperwork compared to Axis Bank.

Customer Service and Global Network

If you’re going abroad, it helps if your bank has branches or support there.

ICICI has more branches and support outside India, which is useful if you face any banking issues while studying abroad.

Quick Comparison: Axis Bank vs ICICI Bank

Feature	Axis Bank	ICICI Bank
Interest Rate	Slightly lower	Slightly higher
Maximum Loan Amount	₹75 lakh	₹1 crore
Processing Time	10–15 days	7–12 days
Loan Without Collateral	Up to ₹40 lakh	Up to ₹50 lakh
Margin Money	0% to 15%	0% to 10%
Processing Fee	1.5% to 2%	1% to 2%
International Network	Average	Strong

Which Bank Should You Choose? Axis bank vs ICICI

There’s no one perfect choice. It depends on your situation.

Here’s a simple guide on ICICI vs Axis Bank:

Go with ICICI Bank if

Go with Axis Bank if:

Conclusion

Choosing and applying for an education loan can feel overwhelming. With so many banks, varying rules, and loads of paperwork, it’s easy to feel stuck or confused. That’s where QCK Loans steps in to make things simpler.

At QCK Loans, we help students and parents by comparing multiple banks, explaining options simply, and offering end-to-end support. If you’re planning to study abroad, don’t do it alone. Let QCK Loans help you find the best education loan with less stress and more confidence.

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