IDFC First Bank Abroad Education Loan

Bank

7 days Loan Processing Time

Margin

Processing Fees

0.5% - 1%

Collateral

Upto 1 crore

Non Collateral

Upto 50 lakhs

Repayment Tenure

Upto 10 Years

Cosiger Needed

Yes

Collateral Loans

Up to 1 crore

Non Collateral Loans

Up to 50 lakhs

Features of IDFC Bank
Education Loan Abroad

IDFC Bank is dedicated to providing education to deserving students. This helps more Indian students to be able to pursue higher education abroad. They help students enroll in the best institutes all over the globe without worrying about their financial conditions.

Loan Margin: NA

Processing Fees: 0.5% - 1%

Features	Education Loan Details
Loan amount	Upto ₹50 lakhs (Non Collateral) Upto ₹1 crore (Collateral)
Margin money	NA
Interest rate	10.5%
Processing fee	0.5% - 1%
Processing time	7 Working Days
Loan tenure	Upto 10 Years
Prepayment charges	Available*
Countries covered	IDFC Bank offers abroad education loans to study in over 35+ different countries across the world including the USA, Canada, the UK, Germany, Australia, Singapore, France, etc
Moratorium	Course Duration + 12 month*

Benefits of ICICI Bank Education Loan

No Penalty for Prepayment
You won't face any penalty fees if you prepay your loan.
Offer for female
IDFC Bank supports female students to study abroad by providing a discount of 0.5% compared to male students.
Up to 90% funding
IDFC Bank covers 90% of your expenses including the cost of education, living expenses, travel charges, books expenses, uniform expenses and other miscellaneous charges.
Subsidies
IDFC Education loans offer subsidies such as lower interest rates, tax benefits, and discounts on interest paid
Flexible Repayment
The repayment plan starts after 6 months to 1 year of completion of course. You won't need to make any repayments during this moratorium period. You can choose to pay Interest payments during the moratorium period as this may help in reducing your interest by 1%.

How To Apply For IDFC Bank

Education Loan For Abroad Studies?

You can get in touch with our team of experts by filling out the form on our website. Lorien will schedule a callback with you and guide you through the process.
From helping you upload documents online to presenting it to the banks, Lorien will help you throughout the application process.
Once all your documents are uploaded & KYC is done, you can expect your loan to get sanctioned within a few working days.

Why Choose Lorien To Get Education Loan From IDFC Bank?

Higher Chances Of Approval: Generally, banks dismiss education loan applications if they find any missing documents, property issues, or other issues. But with Lorien, you have access to experts who can reach out to the bank and help you resolve your queries on time.
Ease of Use: Students can easily contact us by filling out a form on the website and our most trusted experts will reach out to them to help them with any query. The process is simple and efficient to make your study abroad dreams a reality.
100% Free Assistance: Our services are free of cost and we do not charge our students for helping them apply for their education loans.
Quicker Loans: Our experts make sure that your education loan is sanctioned as early as possible. We also keep track of the application and make sure that all the requirements from your end are fulfilled.

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Eligibility Criteria For IDFC Bank Education Loan Abroad

For Courses
1. Graduation and post-graduation courses, and diplomas recognized and authorized by UGC/AICTE/IMC/Government of India & ICMR
2. Professional and technical courses such as Law, Management, Medicine, Engineering, Aviation and more from recognized institutions.
3. Vocational or skill development courses recognized by the government.
4. Courses offered by IIM, IIT, IISC, XLRI, NIFT, and other institutions.

Documents Required

For Applicant:
1. Should be an Indian citizen
2. Should be enrolled in a recognized institution for professional & technical studies.
3. Employees who have been with a company for a minimum of 3 years and want to pursue further studies while being enrolled in a recognized institution.
4. Identity proof (PAN Card or Employee Identity card)
5. Proof of address (Electricity bill, Telephone bill, or Ration card)
6. Bank statement for the last 6 months from all banks
7. Schedule of expenses including fee structure and living expenses
8. Mark sheets for 10th, 12th grade and degree certificate
For Applicant:
1. IDFC FIRST Bank Application Form
2. KYC Documents
3. Income Proof (if required)
4. Collateral Documents (if required)
5. They could be a parent, guardian, relative, sibling or someone close

Repaying the Loan

Loan interest for IDFC Bank Loan begins immediately after the loan’s first installment is disbursed. The repayment of loan starts after 1 year of graduation or 6 months after getting employed, whichever comes first. The highest tenure offered by IDFC is 12 years.

FAQs

Bringing answers to your questions

What is the interest rate on education loans for studying abroad, and how is it calculated?
IDFC Bank offers education loans with very low-interest rates. The exact interest rate may vary, and it is advisable to contact them directly or visit their official website for the most up-to-date information.
What is the process for applying for an IDFC Bank education loan for studying abroad?
You can apply for an IDFC Bank education loan for studying abroad by getting in touch with Lorien. Fill out the form on our website, and our experts will schedule a callback with you. They will guide you through the application process, help you upload necessary documents online, and present the application to IDFC Bank. Once all documents are uploaded and KYC is done, the loan is expected to be sanctioned within a few working days.
Does IDFC Bank offer any special benefits or interest rate reductions for exceptional academic performance?
IDFC Bank's education loans are known for their low-interest rates, providing financial support for students aspiring to study abroad. While IDFC Bank may not explicitly mention special benefits for exceptional academic performance, Lorien, as your trusted education loan partner, works diligently to ensure you access the most favorable terms. By leveraging our expertise and relationships with financial institutions, Lorien assists you in securing the best interest rates available. Our commitment is to make your study abroad journey financially viable, offering personalized support to enhance your overall experience.
Is there a co-applicant or guarantor required for the loan?
Yes, a co-applicant is required for IDFC Bank's education loan, and it is typically the student's parent(s). In certain cases, a guardian, relative, or siblings can act as the co-applicant.
What collateral or security is required for the loan?
Collateral requirements may vary based on individual circumstances and the loan amount. Lorien, as your dedicated education loan partner, can facilitate this communication, ensuring you receive accurate and personalized information tailored to your specific needs. Contact us to navigate the intricacies of collateral or security for your IDFC Bank education loan, making your application process smoother and more transparent.

Lorien’s Success Stories

Real Dreams: Real Achievements

I'm Sambhavi, currently working at Deloitte. Lorien Finance helped me secure an education loan for my Master's in Business Analytics at the University...

Sambhavi

I want to express my utmost satisfaction and gratitude to Lorien Finance for their exceptional services....

Rachna

Thanks to Lorien Finance, I was able to secure an education loan without any hassle. Their online application process made it convenient for me to app...

Sharikha

I'm Sambhavi, currently working at Deloitte. Lorien Finance helped me secure an education loan for my Master's in Business Analytics at the University...

Sambhavi

I want to express my utmost satisfaction and gratitude to Lorien Finance for their exceptional services....

Rachna

Thanks to Lorien Finance, I was able to secure an education loan without any hassle. Their online application process made it convenient for me to app...

Sharikha

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Sriram

It was a good experience with Lorien Finance throughout the process they helped me in every step and made the process hassle-free and helped me to g...

Rama

It was a good experience with Lorien Finance throughout the process they helped me in every step and made the process hassle-free and helped me to g...