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IDFC FIRST Bank Education Loan Scheme for Study in India & Abroad

🎓 IDFC FIRST Bank Education Loans: Your Gateway to Global Education

Whether you're aiming for a premier college in India or a world-class university abroad, IDFC FIRST Bank’s education loans are designed to support your academic aspirations with convenience, flexibility, and affordability.

 

🌟 Why Choose IDFC FIRST Bank for Education Loans?

  • ✅Loan Amounts up to ₹1.5 Cr
  • ✅No Collateral Required up to ₹75 Lakhs
  • ✅Competitive Interest Rates starting from 9.5% p.a.
  • ✅100% Digital Process from application to disbursal
  • ✅Flexible Tenure up to 15 years
  • ✅Tax Benefits under Section 80E
  • ✅Covers tuition, travel, living expenses & more

 

🏦 Types of Education Loans Offered by IDFC FIRST Bank

IDFC FIRST Bank doesn’t use fixed names for each scheme like public banks (e.g., Saraswati, Scholar, Udaan), but it offers structured loan options based on location (India or Abroad) and level of education (Undergraduate or Postgraduate).

 

1️⃣ Education Loan for Undergraduate Studies (India) 

Purpose:
To help students finance undergraduate degree programs such as B.Tech, BBA, B.Com, MBBS, BA, and others at Indian institutions.

Features:

  • 💰Loan Amount: Up to ₹25 lakhs (without collateral)
  • 🏫Coverage: Tuition fees, books, equipment, hostel charges, examination/library/lab fees, and insurance
  • 👨‍👩‍👧Co-applicant: Required (typically parents or guardians)
  • 💳Repayment Tenure: Up to 15 years
  • 🕐Moratorium Period: Course duration + 12 months
  • 💼Processing: 100% digital via website/app, fast-track approval
  • ✅Collateral: Not required up to ₹25L (subject to profile and course)

Best For:
Students admitted to recognized Indian colleges through merit or entrance exams.

 

2️⃣ Education Loan for Postgraduate Studies (India)

Purpose:
To fund master's degrees like MBA, M.Tech, MCA, MS, or other PG-level qualifications in India.

Features:

  • 💰Loan Amount: Up to ₹35 lakhs (collateral-free for eligible profiles)
  • 🏛Coverage: Course fees, hostel/mess charges, books, devices (laptop), travel (if any), and exam fees
  • 💸Interest Rate: Starting from 9.5% p.a. (floating)
  • 🧾Repayment: Flexible tenure up to 15 years post-moratorium
  • 📉Benefits: No foreclosure charges, tax deduction on interest under Section 80E

Best For:
Students entering reputed postgraduate courses in management, engineering, law, or science.

 

3️⃣ Education Loan for Study Abroad Programs

Purpose:
To support students pursuing higher education at globally recognized universities in countries like the USA, UK, Canada, Australia, and more.

Features:

  • 💰Loan Amount: Up to ₹75 lakhs without collateral; up to ₹1.5 crore with collateral
  • 🌐Covered Expenses:
    • Tuition fees
    • Living expenses
    • Airfare
    • Visa charges
    • Entrance exams (TOEFL, IELTS, GMAT, GRE)
    • Laptop, books, and insurance
  • 🧾Repayment: Up to 15 years with flexible EMI options
  • 📱Process: End-to-end digital onboarding and approval
  • 👨‍👩‍👧Co-applicant: Mandatory (parent, guardian, or sibling)
  • 🔐Collateral: Not required up to ₹75L; required beyond that

Best For:
Students accepted into undergraduate or postgraduate programs at internationally ranked universities.

 

💡 Key Differentiators Across Loan Types

Loan TypeLoan AmountCollateralSuitable ForMax TenureDigital Process
UG (India)Up to ₹25LNot requiredBachelor's in India15 years✅ Yes
PG (India)Up to ₹35LNot requiredMaster's in India15 years✅ Yes
Study Abroad₹75L (No Collateral), ₹1.5 Cr (With)OptionalInternational UG/PG15 years✅ Yes

 

✅ Common Features Across All Loan Types:

  • 🎯Moratorium: Course period + 12 months grace before EMI starts
  • 💼Coverage: Complete academic cost including fees, travel, and living
  • 🔄No Prepayment Charges
  • 👩‍🎓Flexible Co-applicant Policies
  • 📊Tax Benefit: Interest paid eligible under Section 80E

 

🌍 Supported Countries for Study Abroad Loans

  • 🇺🇸 United States
  • 🇨🇦 Canada
  • 🇬🇧 United Kingdom
  • 🇦🇺 Australia
  • 🇩🇪 Germany
  • 🇸🇬 Singapore
  • 🇮🇪 Ireland
  • 🇳🇿 New Zealand

✔️ All universities must be recognized and offer full-time degree programs.

 

🎁 Additional Benefits

  • 📊Tax Deduction under Sec. 80E for interest paid
  • 🧑‍🎓No Foreclosure Charges
  • 👩Co-applicant flexibility: Parents, spouse, or sibling allowed
  • 📱FIRST UNI Platform: Guidance on SOP writing, test prep, VISA, forex

 

✅ Conclusion

IDFC FIRST Bank’s education loan solutions are holistic, student-friendly, and built for the modern academic journey. With high loan limits, minimal paperwork, and the ability to apply from home, they are a perfect fit for today’s aspirants aiming for academic excellence in India and beyond.

 

🔗 Apply today at https://shikshavahini.com/apply-for-loan and take the first step toward your academic future—without financial stress!