- Indicative interest rate
- 10.5% – 13.9% p.a.
- Loan amount
- Up to ₹75L depending on profile
- Collateral
- Unsecured available for eligible cases
- Tenure
- Up to 12 years after moratorium
- Moratorium
- Course period plus 6 to 12 months
- Processing fee
- Percentage-based processing fee
- Prepayment
- Usually permitted after a lock-in
- Lender type
- Bank
Loan products offered by IDFC FIRST Bank Education Loan
A breakdown of the loan structures this partner typically offers, who each one suits, the security expected and how the pricing compares. Your counsellor will confirm which product fits your course, institution and co-applicant profile.
Product 1Secured education loan (with collateral)
Families able to pledge residential property, plot or fixed deposits.
- Typical amount
- Typically ₹7.5L to ₹1.5 Cr depending on security value
- Security expected
- Immovable property, FD or government securities plus a co-applicant
- Pricing
- Lowest indicative band offered by the bank
- Best pricing available for large overseas budgets
- Longer repayment tenure keeps EMIs lower
- Living costs, travel, laptop and insurance usually included
Apply for This LoanProduct 2Unsecured / scheme-based loan (no collateral)
Students admitted to listed premier institutes or strong overseas programmes.
- Typical amount
- Usually up to ₹7.5L–₹40L based on scheme and institute list
- Security expected
- Co-applicant income only, no tangible security
- Pricing
- 0.5%–2% above the secured band
- Faster because no valuation or legal check is needed
- Institute list and course type decide eligibility
- Co-applicant income and credit history are assessed closely
Apply for This LoanProduct 3Pre-visa / pre-admission sanction
Applicants who need a sanction letter for visa or I-20 financial proof.
- Typical amount
- Sanction issued against estimated total cost of the programme
- Security expected
- As per the chosen secured or unsecured route
- Pricing
- Same as the underlying product
- Sanction letter usable as proof of funds
- Disbursement stays linked to the fee schedule
- Useful when visa slots are close
Apply for This Loan Eligible countries
- USA
- UK
- Canada
- Australia
- Germany
- Ireland
Documentation
- KYC of applicant and co-applicant
- Admission or offer letter
- Academic marksheets and test scores
- Co-applicant income proof (ITR, salary slips, bank statements)
- Fee structure from the institution
- Collateral papers where applicable
Benefits
- Largely digital documentation
- Unsecured options for strong profiles
- Flexible repayment structures
Considerations
- Programme and university eligibility lists apply
- Higher rate than secured bank schemes
Application process
- Share your profile and shortlist the scheme
- Submit documents for internal assessment
- Branch or credit team verification
- Sanction letter issued with terms
- Loan agreement signing and margin payment
- Disbursement to the institution as per fee schedule
EMI calculator for IDFC FIRST Bank Education Loan
Pre-filled with this lender's indicative starting rate. Adjust the amount, course duration and tenure to see the monthly instalment after your moratorium.
Estimated EMI
₹42,589
Starting after a 30-month moratorium
- Total interest
- ₹26,10,663
- Total repayment
- ₹51,10,663
- Interest during moratorium
- ₹6,56,250
See My Loan OptionsThis calculator is an estimate. It assumes a fixed rate and equal monthly instalments. Actual EMIs depend on your lender's rate reset policy, interest capitalisation method, fees and disbursement schedule.
Frequently asked questions
Rates, fees and terms are subject to lender policies, scheme changes and your applicant profile. ShikshaVahini does not guarantee approval or any specific rate.
Not sure which lender fits your profile?
Share your course, country and collateral position. A ShikshaVahini counsellor will walk you through realistic options.
