IDBI Bank Education Loan

Education loans from IDBI aim at providing financial support to deserving/ meritorious students for pursuing higher education in India and abroad. With an array of courses to choose from and easy repayment options, IDBI makes sure you get complete financial backing.

Courses offered 
An installment based loan for all courses mentioned below:

Studies in India:

Graduation courses : BA, B.Com., B.Sc., etc

Post Graduation courses : Masters & Phd

Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc
Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university

Courses like ICWA, CA, CFA etc

Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc

Courses offered in India by reputed foreign universities

Evening courses of approved institutes

Other courses leading to diploma/ degree etc. conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc

Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on future prospects/ recognition by user institutions.

Studies abroad:

Graduation: For job oriented professional/ technical courses offered by reputed universities. Post graduation: MCA, MBA, MS, etc. Courses conducted by CIMA- London, CPA in USA etc.

Special Courses

Regular Degree/Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/Shipping. In case the course is pursued abroad, the Institute should be recognized by the competent local aviation/shipping authority .

Loan Amount
 Maximum loan amount :

Study in India-Rs.10 lakhs

Study Abroad -Rs.20 lakhs
Loan Margin:

Studies in India - upto Rs. 4 lac- Nil

above Rs. 4 lac- 5% of the total course expenses

Studies abroad - 15% of the total course expenses

Expenses Covered under Loan
Fee payable to college/ school/ hostel

Examination/ Library/ Laboratory fee

Purchase of books/ equipments/ instruments/ uniforms

Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts

Travel expenses/ passage money for studies abroad

Purchase of computers - essential for completion of the course

Any other expense required to complete the course - like study tours, project work, thesis, etc.`
Insurance premium for student borrower

Repayment terms 
The repayment of loan to begin after the course period + 1 year or 6 months after getting a job, whichever is earlier. The loan to be repaid within 5-7 years (maximum tenor 84 months) after commencement of repayment.

Rate Of Interest

Upto Rs 4 lacs : BPLR – 1% p.a (12.25%)
Above Rs 4 lacs : BPLR p.a. (13.25%)
Simple interest to be charged during repayment holiday and moratorium

Accrued interest during the repayment holiday period should be added to the EMIs.

Where the borrower has not opted for the repayment holiday or is willing to service the interest during the repayment holiday (for principal) the interest rate should be 1% lower than the applicable rate.

50 basis points reduction for girl applicants

50 basis points reduction for physically challenged applicants (subject to submission of certificate from a medical practitioner)

Repayment holiday / moratorium :

Duration of the course period + 1 year / 6 months after getting a job, whichever is earlier .

The loan to be repaid in 5-7 years (maximum tenor 84 months) after commencement of repayment.



 For more Details  :       www.idbibank.com