- Open for Indian students who are pursuing higher studies in India or abroad
- Should be 18 years old or above on the date of application.
- Admitted to the desired institution after completion of the pre-requisite qualifications
The candidates applying for IDFC FIRST Bank Education Loans will get the following benefits –
- Collateral-free loan amount of up to INR 40 Lakh (minimum loan amount of INR 3 Lakh)
- Education loan interest rates starting at 9% p.a.*
- Provision for easy and fast loan sanction via seamless application process
- Provision for multiple repayments is available
- No foreclosure/part payment charges
- Loans upto ₹1 Cr. available with collateral*
- 100% income tax benefit for interest paid under Section 80E of IT Act
- The education loan amount would include the following expenses towards the course:
1. College-related expenses:
- Tuition and Fees payable to the institute
- Examination/library/laboratory fees
- Purchase of books/Equipment/uniforms
- Living expenses (including Hostel fees)
2. Additional expenses:
- Travel expenses
- Purchase of computers/laptops
- Overseas Insurance
- Cost of health insurance
Note: Special consideration for students pursuing professional courses from NIRF/top educational institutions (lesser interest rate depending on course and institution, quick loan disbursal, etc.)
The following documents must be uploaded by the applicant at the time of application –
- Recent passport-size photograph
- Address proof (Aadhaar Card/Driving License/Passport/Voter ID Card/NREGA Job Card of parent/s, etc.)
- Admission proof (College ID card/admission letter/ bonafide letter from institute)
- Academic documents (10th and 12th marksheets | For PG courses, graduation final year mark sheet also required)
- Fee structure document
- Click the ‘Apply Now’ button below.
- You will now be redirected to the ‘Buddy4Study – IDFC FIRST Bank Education Loan programme’ application form page.
- Click on the ‘Start Application’ button to begin the application process.
- Fill the required details in the online application form.
- Upload relevant documents.
- Accept the ‘Terms and Conditions’ and click on ‘Preview’.
- If all the details filled in by the applicant are correctly showing on the preview screen, click on the ‘Submit’ button to complete the application process.