Here are a few factors

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LocationPAN India
Focus AreaAll Domestic & International Education except undergraduate Course
Loan Amount & Tenure

1 Lac to 1 Crore

(1 Month to 96 month)

Rate of Interest & Type11% to 14% (Reducing)
Processing Fees1%-2%
Foreclosure ChargesNil
Co-Borrower RequiredYes, Any Blood relative may be Co-Borrower
CIBIL ScoreCo-Borrower- 650+
Applicant Age

Student Age- Graduate 18 Year, Post Graduate 28 Year, Executive Course-No Limit

Co-Borrower-21 Year to 75 Year

Moratorium PeriodFor PG Course- Course+1 Year
Collateral Security

Domestic- Up to 20 Lac No Collateral

International-Up to 50 Lac no Collateral

Part Payment AllowedYes
Who Pay EMIAnyone either Student or Co-Borrower
USP
  • Funding to Certificate Course
  • Funding to Aviation Sector Course

Right Document : Easy Process

Required Documents to Apply for IDFC Bank Education Loan

Salaried Co-Borrower

  • KYC of Student
  • KYC of Co-Borrower
  • Last 3 Month Salary Slip of Co-Borrower
  • Last 2 year form 16/ITR with computation of Co-Borrower
  • Last 12 month Bank Statement of Co-Borrower
  • Admission letter of student (if received)
  • Course Fees details on School/College Letter head
  • Latest Utility Bill of co-borrower if Owned premises else rent agreement if rented
  • 10th & 12th Marksheet of Student if applicable
  • Course Fees detail on Scholl/College letter head
  • Copy of sanction letter of all running loan

Self Employed Co-Borrower

  • KYC of Student
  • KYC of Co-Borrower
  • Last 2 year ITR with computation of Co-Borrower
  • Last 2 Year Balance sheet of Co-Borrower if available
  • Last 12 month Bank Statement of Co-Borrower
  • Admission letter of student (if received)
  • Course Fees details on School/College Letter head
  • Latest Utility Bill of co-borrower if Owned premises else rent agreement if rented
  • 10th & 12th Marksheet of Student if applicable
  • Course Fees detail on Scholl/College letter head
  • Copy of sanction letter of all running 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.

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.
  • 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.

    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.

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