IDBI Bank Education Loan

The IDBI Bank Education Loan is a student loan product that provides finance for higher studies in India and abroad. It covers tuition, travel, accommodation, exam fees, books and related expenses, with loan limits and differing terms for collateralized and non-collateralized loans. Interest rates cited range from 9% to 13% and repayment periods extend up to 15 years after a moratorium. A special NHFDC scheme exists for physically challenged applicants with specific eligibility and loan limits.

Loan amount to cover tuition, travel, hostel/mess charges, examination fees, books and stationery, purchase of laptop/computer; loan limits and moratorium/repayment terms (moratorium = course duration + 12 months; repayment up to 15 years).

Applicants must have secured admission to a recognised university or approved course (in India or abroad) often through an entrance exam; NHFDC loans require Indian citizenship and physical disability of 40% or more as certified by a competent medical officer. Co-applicants such as parents, siblings or spouse are acceptable.

Apply to IDBI Bank by submitting required documents with an acceptable co-applicant and collateral as needed; admission to a recognised course is required. (Specific application channel not provided.)