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IDFC Bank Education Loan

Here are a few factors

How To Apply
Product Rating

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Mode

The most applicable and suitable mode of payment is considered to be online payment as it is hassle-free and quick in nature.

Location

It is a PAN India service, I.e., it is available across the whole of India.

Mainly Focus on Funding to

Funding to all who have passed 12th for domestic & abroad education

Turn around time (TAT) & Min CIBIL

10 Days & 650( Here CIBII will be check for both)

Moratorium

Course Duration + 1 Year(No Moratorium on Certain Course like Medical & UG Course/Certificate Course)


PF & Foreclosure

PF-1% & Foreclosure with Part Payment Charges- 0% immediately

USP

No funding up to 12th standard. Moreover, they provide funding for Certificate courses as well as Aviation courses also

IDFC Bank Education Loan EMI Calculator

Interest Type

Loan Amount

₹

Interest Rate

%

Loan Tenure

Mo
Loan Amount₹100,000
Interest %9 %
Tenure (months)12
Emi (monthly)₹ 8,745
Total Interest₹ 4,942
Loan Amount + Interest₹ 104,942
YearTotal Principal
( A )		Total Interest
( B )		Balance
( A + B)		Total Payment Loan Paid Till Date (%)
₹ 57,240₹ 3,975₹ 61,215₹ 42,76057.24 %
Jun₹ 7,995₹ 750₹ 8,745₹ 92,0057.99 %
Jul₹ 8,055₹ 690₹ 8,745₹ 83,95016.05 %
Aug₹ 8,115₹ 630₹ 8,745₹ 75,83524.16 %
Sep₹ 8,176₹ 569₹ 8,745₹ 67,65932.34 %
Oct₹ 8,238₹ 507₹ 8,745₹ 59,42140.58 %
Nov₹ 8,299₹ 446₹ 8,745₹ 51,12248.88 %
Dec₹ 8,362₹ 383₹ 8,745₹ 42,76057.24 %
₹ 42,757₹ 968₹ 43,725₹ 3100.00 %
Jan₹ 8,424₹ 321₹ 8,745₹ 34,33665.66 %
Feb₹ 8,487₹ 258₹ 8,745₹ 25,84974.15 %
Mar₹ 8,551₹ 194₹ 8,745₹ 17,29882.70 %
Apr₹ 8,615₹ 130₹ 8,745₹ 8,68391.32 %
May₹ 8,680₹ 65₹ 8,745₹ 3100.00 %
Work Process

Start with IDFC Bank Education Loan in few steps

If you are planning to apply for a Education loan at IDFC Bank there are certain details that you should be aware of, Let’s discuss

01
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

02
Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

03
Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

04
Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, you will receive your loan amount shortly.

Documents and Eligibility Required for IDFC Bank Education Loan

Eligibility

  • Age of the student (Year) - UG Course-18 yr max & PG Course- 28 yr Max & Executive course -No age check
  • Age of the co-Borrower (Year) - Age must be between 21-75 years.
  • Who can be Co-Borrower - Any immediate blood relative of the student.
  • Who can pay the EMI - Co-borrower of the student.

List of common documents:

Co-Borrower KYC

Offer Letter/Admission Letter

Fee Structure of School

Account Details

10th & 12th Certificate

Month Banking

Student KYC

Apply for Loan

About IDFC Bank Education Loan

An education loan is a kind of loan meant for pursuing higher education. Many banks and NBFCs in India offer education loans at competitive rates to help educate the upcoming innovators and leaders. It is intended for those who do not have sufficient finances for their studies. These are generally sought for higher education and/or specialized courses in esteemed institutes which are located overseas or domestically. It basically covers the cost of tuition, living expenses, books, and other necessary supplies required till the persuasion period.

IDFC First Bank is one of the most reputed organizations in India. IDFC FIRST believes in transparency and trust. Moreover, their online loan application process is simple. If you are looking for a quick and hassle-free education loan, then IDFC is the best choice. Their platform intends to educate each and every aspiring student.

Additional documents

For salaried

  • 3-Month Salary Slip

For self-employed individuals

  • 2-year ITR with Computation of Income.
  • Education Loans play an important part in your overall educational funding. IDFC First Bank allows you to avail of an Education Loan that covers all aspects of higher education, including college fees, books, and accommodation costs. You can easily achieve your dream of STUDYING ABROAD or the course of your dream even if you have limited funds.

How can EMI be paid?

Immediately-Complete EMI
Moratorium Way:
  • Simple Interest- Full Interest during Moratorium will be paid
  • Partial Interest- Partial Interest during Moratorium will be paid
  • Completed Waive- No EMI during Moratorium will be paid.
    • Leave Your Question

    FREQUENTLY ASKED QUESTIONS

    No, education loans typically do not offer the same amount for courses in India as they do for courses of a similar caliber elsewhere. Since tuition and other costs may be higher abroad than in India, education loans are offered at higher rates for studies abroad (depending on the educational institution).

    For courses abroad, education loans are generally paid directly to the educational institution in the local currency of that country.

    You can transfer your education loan from one bank to another. Your present bank, however, might impose refinance fees. Therefore, before changing the loan, it is crucial to consider all of the existing and new bank's aspects.

    IDFC education loan is available for all those students who have passed 12th for domestic & abroad education.

    The most applicable and suitable mode of getting the IDFC education loan is considered to be online as it is hassle-free and quick in nature.

    Refer Loan is a Phy-zital Fintech that connects Lenders and Borrowers digitally as well physically. It provides a Financial Bouquet to the users with multiple Financial solutions. Its AI-based detailed comparison enables users to find the best financial product from the best financial institutions.

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