IDFC - Education Loan
PRIVATE BANKS
Collateral free loans available
Loan Margin : NIL
4 days avg loan processing time
Margin
NIL
Collateral
Collateral free loans available
Loan Tenure
Upto 15 Years
Processing fee
0.5% to 1.0%
Early Repayment
Yes(without any charges)
Living Cost
Yes
Secured Loan
Amount
Up To 2Cr
Un-Secured Loan
Amount
Up To 75Lac
UniCreds Guarantee
100% transparent process
Fast loan processing
Free of cost service
No hidden fees
Features of IDFC Education Loan For Abroad Studies
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.
| Features | Education Loan Details |
|---|---|
| Loan amount | Upto ₹2Cr (Collateral) Upto ₹75Lac (Without Collateral) |
| Margin money | Nil |
| Processing fee | 0.5% to 1.0% |
| Processing time | 4 Days |
| Loan tenure | 15 Years (Including study and grace period) |
| Prepayment charges | Nil |
| Repayment holiday | Options 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 covered | USA, UK, Canada, Ireland, Germany, Australia, Singapore amongst many more |
Looking for
Faster and
streamlined Process?
100% Transparency
100% Free
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.
Eligibility Criteria to Apply for IDFC Bank Student Loan
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.
| Type | Requirement |
|---|---|
| Eligible Courses | This programme is exclusively designed for Indian students pursuing higher education abroad. |
| Age Requirement | The candidate should be 18 years of age or above. |
| Admission Secured | A confirmed admission letter from a recognized overseas university is mandatory. |
| Course Accreditation | The programme generally covers accredited courses offered by universities abroad. |
Benefits of IDFC Abroad Education Loan
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
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:
18001217661
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Need Guidance Faster? Call us at:
18001217661
How to Apply for IDFC Abroad Education Loan?
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 forFaster and
streamlined Process?
100% Transparency
100% Free
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.
Documents Required for an IDFC Education Loan
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)
| Type | Documents 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.). |
IDFC Education Loan Repayment Options
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.
The displayed EMI amount is approximate & is subject to change based on various factors.
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