logo
Home>Abroad Education Loan>IDFC
unicreds

IDFC - Education Loan

PRIVATE BANKS

No collateral needed

Loan Margin : NIL

unicreds

4 days avg loan processing time

unicreds

Margin

NIL

unicreds

Collateral

No

unicreds

Loan Tenure

Upto 15 Years

unicreds

Processing fee

0.5% to 1.0%

unicreds

Early Repayment

Yes

unicreds

Living Cost

Yes

Secured Loan

unicreds

Amount

Up To 1Cr

Un-Secured Loan

unicreds

Amount

Up To 75Lac

unicreds

UniCreds Guarantee

unicreds
unicreds

Quick Loan Sanctions

unicreds

100% Transparency

unicreds

No Hidden Fees

unicreds

24x7 Support

Feature

IDFC FIRST Bank's goal is to give financial support to deserving students who want to further their studies. This IDFC FIRST Bank education loan scheme is designed to ensure that exceptional students do not lose out on the opportunity to arrange finances for their studies.

FeaturesEducation Loan Details
Loan amountUpto ₹1Cr (Collateral) Upto ₹75Lac (Without Collateral)
Margin moneyNil
Processing fee0.5% to 1.0%
Processing time4 Days 3 to 4 days*
Loan tenure15 Years (Including study and grace period)
Prepayment chargesNil
Repayment holidayOptions available Partial simple interest, Simple interest, and Direct EMI. Period offered is the course duration plus a grace period of 12 months. This is subject to the IDFC FIRST Bank's policy.
Countries coveredUSA, UK, Canada, Ireland, Germany, Australia, Singapore amongst many more

Looking forSparkLogoFaster and
streamlined Process?

100% Transparency

100% Free

unicreds

Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.

unicreds-scholar-girl

Eligibility

TypeRequirement
Eligible Courses1. Professional or technical courses from renowned education institutions overseas. 2. Courses offered by reputable international institutions.

Benefits

Up to 100% financing
With IDFC banks, you can expect up to 100% funding (up to 75,00,000 for platinum plus students) for your cost of education. Below is a list of expenses that will be covered under the IDFC education loan for abroad studies -Tuition Fees, Accommodation/Hostel expenses, any deposits to be paid at the Institute, Cost of uniform, books, & other miscellaneous expenses, Travel & Transportation costs.
Flexible Repayment Options
With an IDFC student loan, students do not need to start with the payment process immediately upon completion of their course. There is a moratorium period or a holiday period of about 6 months to 1 year, post which your EMI starts. You will however have the option of making your interest payments during your moratorium period.
Education Loan Subsidies
Education loan subsidies include not just interest rate and tax benefits, but also a rebate on interest paid on education loans and a principal loan amount waiver. Those students studying undergraduate, postgraduate, and/or other stages of higher education who meet the qualifying criteria for education loan schemes are eligible for these subsidies. However, before applying for any such plan, candidates should be well informed about the education loan subsidy schemes.
Flexible Repayment Options
With an IDFC student loan, students do not need to start with the payment process immediately upon completion of their course. There is a moratorium period or a holiday period of about 6 months to 1 year, post which your EMI starts. You will however have the option of making your interest payments during your moratorium period. Doing so will be beneficial for you because there are chances that the bank may consider lowering your interest by 1%.
Provides Tax Benefits
The interest rate you pay on your student loan is tax deductible in accordance with Section 80E of the Income Tax Act. Verify the specifics of the perks with your financier. Get in touch with IDFC FIRST Bank Ltd. so that they can help you find an appropriate education loan to cover your tuition costs. IDFC FIRST Bank Ltd. student Loan assists thousands of students in realising their aspirations without draining their or their parent's money by providing simple access to abroad education loans.

Benefits Of Getting Your Education Loan Through UniCreds

Higher Chance Of Approval
By applying for your education loan through UniCreds, you are increasing your chances of approval. Generally, banks dismiss applications if they find any missing documents, property issues, or any other problem. With UniCreds, we will immediately reach out to the officials and find the best solution.
Online Submission Of Documents
With UniCreds, you can submit all the required documents from home! There won’t be any need to visit the branch. Simply head over to our website and submit all the documents there. There won’t be a possibility of not submitting an essential document, as our system is designed to ensure all essential documents are submitted. You also get stepwise updates via notifications.
No Cost To You
All our education loan services are completely free of cost.
Quicker Sanctions
Our strategic partnerships ensure low turnaround time. Expect to have your education loan processed and sanctioned within 5 days.

Get Guidance at every step of your loan application

We ensure 100% transparency throughout the education loan process.Our education loan counsellors will stay by your side every step of the way.

Need Guidance Faster? Call us at:

phone

18001217661

Start your journey now

Help us with a few details

By submitting you agree to our Terms and Privacy Policy.

Need Guidance Faster? Call us at:

phone

18001217661

How to Apply

Apply Online 

  • After you've determined your eligibility, you can get started with your application. Students can either apply online or contact one of our professional education loan counsellors and request a callback. 
  • Depending on your needs, our experienced counsellors can help you secure an IDFC FIRST Bank education loan without or with collateral.
  • Once you’ve updated your profile details, our counsellors will thoroughly examine your profile and, based on your eligibility, offer the next set of actions to you.

 

Documentation

  • UniCreds allows students to upload documents online, saving you the inconvenience of proceeding with the documentation at the bank and allowing you to do it from the comfort of your own home.
  • Furthermore, to expedite the process, UniCreds provides you with a personalised list of documents to submit depending on your profile and the type of loan that you've applied for.

 

Loan Approval

  • Once the banker receives the documents that you’ve submitted, they are uploaded online for approval. 
  • Since most loan approvals are received via email, keep an eye out for any email pertaining to your loan amounts, interest rates, moratorium period, and payback period.

 

Loan Disbursal

  • You can visit the branch for disbursement after you receive your loan sanction letter in the mail. The disbursement of the education loan is determined by the university to which you apply. It differs from country to country. While looking for a college or university in a particular country, make sure you check out the tuition payment schedule for that country because some countries demand loan disbursal prior to the visa checks.

Looking forSparkLogoFaster and
streamlined Process?

100% Transparency

100% Free

unicreds

Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.

unicreds-scholar-girl

Documents

TypeDocuments Required
For BorrowersSTUDENT: 1. Pan Card 2. Aadhar Card 3. Passport 4. University Admission Letter 5. Entrance Score Card - GRE/ GMAT/ TOEFL/ IELTS, etc. 6. Academic: 10th, 12th & Degree - All semester Individual Marksheets 7. Resume 8. Name, Address, Contact and Email ID of 2 References (Friends/ Family/ Neighbors) 9. 3 months Salary slips (If Applicable) 10. 6 months Bank Statements (If Applicable) 11. Form 16 / ITR (If Applicable) MOTHER & FATHER (BOTH COMPULSORY): 1. Pan Card 2. Aadhar Card 3. Mobile Number & Email ID
Co-SignerCO-SIGNER (Salaried-Job): 1. PAN Card & Aadhar card 2. Latest 3 months salary slips 3. Latest 1 Year Salary Credited Bank Statements 4. Latest 2 Years Form 16 5. Electricity Bill 6. Mobile Number & Email ID IF CO-SIGNER (Self Employed/Business): 1. PAN Card & Aadhar card 2. Latest 2 year ITR with Computation income, Profit & Loss and Balance sheet 3. Business proof (GST, UDHYAM ADHAR, and GUMASTA) 4. Latest 1 Year Bank Statement (Income Credited) 5. Electricity Bill 6. Mobile Number & Email ID
Collateral LoanCollateral Documents: 1. Registered Sale Agreement (All chains) 2. Share Certificate 3. All Property Related Documents- e.g- Sanction Plan, Tax paid Receipt 4. NA conversion certificate in case of Plot. 5. OC/CC and Approved Building Plan. 6. 7/12 Extract 7. Society NOC 8. Any other Documents associated with Property

Loan Repayment

1. Whether you’ve taken an Indian course or an abroad course, the payback period is limited to 15 years from the start of repayment.

2. Repayment for education loans normally begins one year after completion of the course of six months following employment, whichever comes first.

3. Loan interest repayment will begin immediately upon the disbursement of the loan's first instalment.

%
Years
Months
Months

The displayed EMI amount is approximate & is subject to change based on various factors.

unicreds
Monthly EMI
0
unicreds
Principal Amount
1,600,000
unicreds
Total Interest
0
unicreds
Total Amount
0
star
star
star
star
star

What our Students say about us

star

Frequently Asked Questions

Yes, you can obtain an IDFC FIRST Bank education loan without collateral for amounts up to ₹75L.
There are different ways of repaying an education loan with IDFC, and they include - 1. Post Dated Cheques 2. Electronic Clearance System 3. National Automated Clearing House 4. Standing Instruction
Depending on your eligibility, you may or may not avail of tax benefits on your education loans. However, in case you meet the necessary criteria, you can get an advantage of tax benefits on the interest paid for up to 8 years.
IDFC education loans cover tuition fees, accommodation, books, travel, and other academic expenses, offering comprehensive financial support.
IDFC FIRST Bank supports education loans for studies in the USA, UK, Canada, Ireland, Germany, Australia, Singapore, and more.