IDBI Education Loan

IDBI Education Loan is a financial support scheme provided by the Industrial Development Bank of India (IDBI) to assist meritorious students in pursuing higher education, both in India and abroad. The loan aims to cover various educational expenses and empower students to achieve their academic goals.
There are four types of loan schemes offered by IDBI for different educational purposes:

Loans for vocational education/courses.

Loan for non-vocational courses.

Education Loan under Financial Inclusion Programme (FIP).

Loan for students admitted through the management quota.

Documents Required

Address proof

Identification card

Application form

Passport-size photographs

Admission Letter

Income proof of the guarantor

Collateral Security documents

GRE/IELTS/TOEFL/GMAT Score

10th and 12th exam mark sheets

Eligibility Criteria

The student should be of Indian nationality.

Admission should be secured through entrance tests or merit-based selection.

For candidates admitted through management quota, additional marks above the standard requirement are necessary.

General/ST/SC/OBC specifications must be fulfilled.

IDBI offers loans for students pursuing studies at foreign universities. Eligibility criteria include:

The applicant's age should not exceed 35 for foreign universities and 30 for Indian universities.

Parent(s) or guarantors' age should be under 55.

The family's annual income must be at least Rs. 3 lakhs.

IDBI Education Loan

IDBI Bank

₹ 20,00,000

31 December

All

IDBI Education Loan

IDBI Bank

₹ 20,00,000

31 December

All

List of Benefits

IDBI Education Loan Amount:

The loan amount depends on the income of parents and students, along with their repaying capabilities. The maximum loan amount is Rs. 10 lakhs for studying in India and Rs. 20 lakhs for studying abroad.

IDBI Education Loan Interest Rate:

The interest rates vary based on the type of course:

Non-Vocational Courses: 8 – 9%

Vocational/Skill Development Courses: 9 – 10%

Premier Education Institutes Courses: 7 – 8%

Repayment & EMI Method

Repayment Details:

Repayment period up to 10 years for loans up to Rs. 7.5 lakhs.

Repayment period up to 15 years for loans above Rs. 7.5 lakhs.

Moratorium period includes the course duration plus an additional year or 6 months after securing employment.

EMI Payment Methods:

EMI payments can be made through standing instruction, electronic clearing service, or post-dated cheques from a non-IDBI bank account.

How To Apply

Steps to be followed:
1. Visit our official website.
2. Click on register
3. Login and apply
4. Fill the required details in the form
5. Upload relevant documents
6. Review and Submit the application.