IDFC Education Loan: Need financial assistance to reach your career goals? If yes, then choose the education loan scheme from the IDFC First Bank. The bank provides education loans to pursue higher studies in India as well as abroad at attractive interest rates i.e. starting from 9% per annum.
The quicker loan process is useful for students. Have a look at the detailed application process for the IDFC Education Loan in the below-provided section.
IDFC First Bank Education Loan
IDFC First Bank is one of the popular banks that provides education loans to Indian students to study in India and abroad. This bank has a quick loan sanction scheme via the seamless application process. Students can avail loans up to 50 lakhs without collateral and 1 crore with collateral.
It offers education loans to study 18000 courses from more than 3200 universities in 25 countries around the globe. The lower interest rates are the primary factor that attracts many students. The various education loan offerings of IDFC Bank are listed here:
- Higher Education Loan – International
- Higher Education Loan – India
- School Fees Financing
IDFC Bank Education Loan Features
The goal of IDFC is to give financial support to deserving candidates for higher education. The best features of the IDFC Education Loan are provided here:
| Features | Loan Details |
| Interest Rates | 9% per annum to 15% per annum |
| Loan amount | Up to INR 50 lakhs (Without Collateral), Up to 1 crore (With Collateral) |
| Margin money | 100% funding |
| Processing fees | 10% + GST |
| Processing Time | 2 to 7 working days only |
| Loan tenure | 15 years |
| Repayment holiday | Study period + 12 months |
| Repayment Fees | NIL |
Advantages of IDFC Education Loan
Some of the benefits of the IDFC Bank Education Loan are here:
- Up to 100% financing facility
- Flexible repayment options
- Up to 90% funding
- Education loan subsidies
- Discount for female students
- Section 80E tax benefits for income
- Hassle-free education financing fulfilled at your doorstep
IDFC Education Loan Eligibility
Get the eligibility conditions of idfcfirstbank.com Education Loan.
- You should be an Indian citizen.
- You should be 18 years old or above.
- You should have secured admission to the desired institution/course.
- In case secured admission is not available, you can get a pre-admission sanction.
www.idfcfirstbank.com Education Loan Documentation
Students have to gather these documents to apply for the IDFC First Bank Education Loan.
Student
- Photo ID proof
- Proof of residence
- Passport sized photograph
- Proof of admission
- Fee structure document
- Salary slips of experienced candidates
- Visa copy
- Academic documents
Co-applicant
- Photo ID proof
- Proof of residence
- Passport sized photograph
- Income-related documents
Collateral documents
- Property documents
- FD documents
How To Apply for IDFC Bank Education Loan Online?
The bank offers convenient ways to apply for the IDFC First Bank Student Education Loan. They are here:
- IDFC First Bank Website
- FIRST UNI
- IDFC FIRST Mobile Banking App
- Directly visit the IDFC First Branch
The simple application process for IDFC Bank Education Loan is here:
- Visit the official website of IDFC First Bank.
- Select the Leans menu items and choose the Education Loans.
- Select the method you want to apply.
- Fill out the application form with all your mandatory details.
- Upload the required documents.
- Review and accept the loan terms and conditions.
- And finish the application process.
- The bank will send you the loan approval dates within 2 to 7 working days.
- Go to the bank sign the loan agreement and complete all the paperwork.
FAQs on IDFC Education Loan
- What is the interest rate of an IDFC FIRST Bank education loan abroad?
The interest rate of IDFC FIRST Bank education loan abroad ranges from 8.5% to 12%.
- What is the minimum credit score for an education loan in an IDFC bank?
The minimum credit score for an education loan in IDFC bank is 700.
- Does IDFC Bank provide education loans?
Yes, IDFC First Bank provides education loans to eligible students. You can get loans up to 1 crore with collateral and collateral-free loans are up to INR 50 lakhs only.
- Do I need a co-applicant for my education loan?
Yes, a co-applicant is needed to get the IDFC Bank Student Loan.
Conclusion
We have given all the needed data about IDFC Education Loans in India and foreign countries. Visit our page regularly to know other related articles like Education Loan for MBBS Abroad, SBI Education Loan.
The post IDFC Education Loan – Benefits, Eligibility, Interest Rates, Application Process appeared first on Learn CBSE.