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IDFC - Education Loan

PRIVATE BANKS

Collateral free loans available

Loan Margin : NIL

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4 days avg loan processing time

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Margin

NIL

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Collateral

Collateral free loans available

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Loan Tenure

Upto 15 Years

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Processing fee

0.5% to 1.0%

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Early Repayment

Yes(without any charges)

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Living Cost

Yes

Secured Loan

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Amount

Up To 2Cr

Un-Secured Loan

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Amount

Up To 75Lac

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UniCreds Guarantee

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Quick Loan Sanctions

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100% Transparency

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No Hidden Fees

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24x7 Support

Feature

Earning acceptance to your dream university abroad is exciting. It's a mix of joy and financial worry. The academic journey ahead brings a big money challenge. IDFC Student Loan program gets it. They understand the struggles students face. From complex applications to debt concerns. Here, you'll find details on IDFC's education loan program. Learn about interest rates, loan amounts, and processing.

FeaturesEducation Loan Details
Loan amountUpto ₹2Cr (Collateral) Upto ₹75Lac (Without Collateral)
Margin moneyNil
Processing fee0.5% to 1.0%
Processing time4 Days
Loan tenure15 Years (Including study and grace period)
Prepayment chargesNil
Repayment holidayOptions available : Partial simple interest, Simple interest, 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
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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.

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Eligibility

It is important to be informed about your eligibility in order to stay on the track of international education. IDFC FIRST Bank "Study Abroad" Education Loan Programme provides loans for Indian students. The following are major determining factors which you need to check.

TypeRequirement
Eligible CoursesThis programme is exclusively designed for Indian students pursuing higher education abroad.
Age RequirementThe candidate should be 18 years of age or above.
Admission SecuredA confirmed admission letter from a recognized overseas university is mandatory.
Course AccreditationThe programme generally covers accredited courses offered by universities abroad.

Benefits

100% Financing on Global Education
Unlike most programs that come with some limitations, IDFC FIRST Bank finances your education to meet 100% (up to ₹75 lakhs for platinum plus students) of your educational expenses. This will remove the financial burden of upfront costs and give free-mindedness to study.
Flexible Repayment Tenure
Considering the challenges of transitioning into a new career, IDFC FIRST Bank provides flexible repayment tenures. You will have the convenience of a moratorium period from 6 months to 1 year* after completion of your course before your EMI begins. This would help you gain employment and have a feel for the new financial situation. Further, you can make interest payments during the moratorium period, which could bring down your overall burden.
Supporting Female Students
IDFC FIRST Bank truly believes in the true sense of empowerment for women in the field of education. The interest rate concession of 0.5%* The applicable card rate is offered especially for female students, which can be real support to materialise international education.
Savings with Tax Benefits
Financing your education from out of your savings should not sound like a capital idea. The interest rate you pay on your IDFC FIRST Bank Study Abroad Loan is tax-deductible under Section 80E of the Income Tax Act. Consult a tax advisor for the specifics, but this benefit can significantly reduce your overall loan cost. 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.

Now meet your academic aspirations abroad with IDFC student loan, which offers numerous financial benefits, such you can avail.

Benefits Of Getting Your Education Loan Through UniCreds

Streamlined Application Support
Applying for an educational loan may require dealing with complex paperwork and making a reference to the varied requirements put forth by different lenders. We walks you through an application to IDFC FIRST Bank every step of the way, ensuring that all documents are captured and submitted accurately.
Expert Loan Comparison & Guidance
Our loan experts compare different lenders and programs offered in the market, highlighting pros and cons in either case. That puts you in a position to make a well-informed decision that best befits your particular financial and objective with regard to education.
Competitive Rate Negotiation
We bring to you our established relations with the lenders, such as IDFC FIRST Bank, wherein the best opportunity shall be chalked out for you to negotiate with the lenders on the interest rates applicable to you. This shall reduce your overall loan repayment burden and make international education financially more accessible.
Dedicated Support
UniCreds doesn't vanish post your application; we provide you dedicated support that stays along the journey, from guiding with an application to assisting post approval. Our team is available round the clock for any kind of questions, concerns, or a smooth loan experience.

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

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Need Guidance Faster? Call us at:

phone

18001217661

How to Apply

Fulfilling your international education aspirations requires careful planning and the right financial support. Partnering with UniCreds simplifies the application process for IDFC FIRST Bank's Study Abroad Loan programme. Here's a step-by-step guide to get you started:

 

1. Initial Consultation:

  • Contact us to schedule a free consultation with one of our loan experts. This initial discussion helps us understand your educational goals, financial situation, and preferred loan options.

 

2. Document Gathering:

  • Based on your eligibility and chosen loan programme, our team will provide a comprehensive list of documents required for the IDFC FIRST Bank application. We'll guide you through collecting them efficiently.

 

3. Application Assistance:

  • We assist you in completing the IDFC Education Loan for abroad application form accurately and efficiently. We ensure all necessary information and documents are included to avoid delays.

 

4. Loan Comparison & Negotiation:

  • While focusing on IDFC FIRST Bank, our experts may also explore other lenders and programmes to ensure you get the most competitive terms. We leverage our relationships with lenders to potentially negotiate lower interest rates on your behalf.

 

5. Application Submission & Tracking:

  • Post the completion of your application at IDFC FIRST Bank, UniCreds shall submit it to the bank and update you with further processing for the same. We will handle all communications with the bank on your behalf.

 

6. Loan Approval & Disbursement:

  • Once the loan gets approved successfully, we will define the clear terms and conditions associated with the loan. We will guide you through the disbursement process so that the money gets transferred to your designated account smoothly.

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

Equipping yourself with the necessary documents is crucial for a smooth and efficient IDFC FIRST Bank Study Abroad Loan application process. Partnering with UniCreds ensures you have everything in order to avoid delays. Here's a general overview of the documents typically required (please note specific requirements may vary)

TypeDocuments Required
Indian Citizenship- Passport (first and last page) - Proof of Identity (Aadhaar Card, PAN Card, Voter ID, etc.) - Proof of Address (utility bills, rental agreement, etc.)
Additional Documents- Scholarship letters (if applicable) - Proof of any educational loans already availed (if applicable) - Co-applicant's employment verification letter (if applicable) - Collateral documents (if required for the specific loan programme you choose)
Academic Documents- Acceptance letter from your chosen university abroad - Most recent academic transcripts (including mark sheets and degrees) - Standardised test scores (if required by the university, like GRE, GMAT, TOEFL, IELTS)
Financial Documents- Income Tax Returns (ITR) of the applicant along with that of the co-applicant (if applicable), if any, for the last 3 years. - Revenue slips of the applicant and his/her co-applicant (if any) for the previous six months. - Bank statements of the applicant and (if applicable) the co-applicant for the last 6 months. - Expected cost of attendance statement sheet from your university (including tuition fees, accommodation, etc.).

Loan Repayment

We understand that, with respect to financing your international education, it is an investment into your future. Avail yourself of flexible repayment options to comfortably service your loan after you graduate:

 

  • Moratorium Period: Get a breather of around 6 months to 1 year* from the successful completion of your course, within which you shall start repaying only your regular EMIs. This shall help you get a job and adjust to a new financial life.
  • Early Settlement Rebate: You have an opportunity to make an extra payment against the loan principal any time you can afford to do so. Such an action may actually help save incurring overall interest costs and emerge debt-free earlier than anticipated.


Reminder: We also helps understand the conditions of loan repayment and come out with a personalised repayment strategy. We help you understand the options and smoothen your entire loan journey.

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

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Monthly EMI
0
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Principal Amount
1,600,000
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Total Interest
0
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Total Amount
0
Interest(₹)
Principal Amount(₹)
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Frequently Asked Questions

The education loan rate at IDFC FIRST Bank is 9% to 15% annually*. Factors like academic performance and loan amount affect the rate.
Yes, you can get an unsecured education loan up to Rs. 50 lakhs at IDFC FIRST Bank. Loans over Rs. 50 lakhs may need collateral.
IDFC FIRST Bank doesn't share their loan disbursement time. It varies based on application complexity. But with UniCreds you can get your loan disbursed in 48-72 hours*
The maximum loan from IDFC FIRST Bank is Rs. 75 lakhs. Unsecured loans are up to Rs. 50 lakhs.
While IDFC FIRST Bank doesn't explicitly mention 100% loan coverage, they can finance up to the total cost of your course expenses, depending on your specific loan amount requirement