IDFC Bank provides competitive interest rates on education loans for studying abroad, starting from 10.5% per year. The exact rate depends on various factors, and our collaboration ensures that students benefit the most from favourable terms.
IDFC First Bank Abroad Education Loan
Bank
Upto 7-10 days Loan Processing Time
Margin
NIL
Processing Fees
1% + GST
Collateral
Upto ₹1 crore
Non-Collateral
Upto ₹85 lakhs
Repayment Tenure
Upto 12 years
Cosigner Needed
Yes
Interest Rate
Starting from 10.50%*
Countries covered
USA, UK, Australia, Canada, and many more
Features of IDFC Bank
Education Loan Abroad
IDFC Bank aims to provide education to deserving students by helping students enrol in the best institutes all over the globe without worrying about their financial conditions.
| Features | Education Loan Details |
|---|---|
| Loan amount | Upto ₹1 crore (Collateral) Upto ₹85 lakhs (Non-Collateral) |
| Margin money | NIL |
| Interest rate | Starting from 10.50%* |
| Processing fee | 1% + GST |
| Processing time | 7-10 days |
| Loan tenure | Upto 12 years |
| Prepayment charges | NIL |
| Countries covered | IDFC Bank provides overseas education loans in numerous countries including USA, UK, Australia, Canada, Germany, Ireland, New Zealand, and many more. |
| Moratorium | Study period - 12 Months |
Benefits of ICICI Bank Education Loan
No Penalty for Prepayment
You won't face any penalty fees if you prepay your loan.
Up to 100% funding
IDFC Bank covers 100% 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 6 months to 1 year after the course completion. You won't need to make any repayments during this moratorium period. You can pay Interest payments during the moratorium period as this may help reduce your interest by 1%.
How To Apply For IDFC First Bank
Education Loan For Abroad Studies?
You can apply for an IDFC First Bank Education Loan by connecting with our team of experts. Just fill out the form on our website, and we will schedule a callback and guide you through the process.
From helping you upload documents online to presenting them to the banks, Lorien Finance will help you throughout the application process.
Once all your documents are uploaded & the KYC process is complete, you can expect your loan to get sanctioned within a few working days.
Why choose Lorien Finance to get an Education Loan from IDFC Bank?
Best loans at unbeatable interest rates: Lorien Finance strives to bring you the best possible deals for your study abroad loans. Our experts negotiate on your behalf to get education loans at the lowest possible interest rates.
Effortless Process: All you need to do is fill out the form on Lorien Finance’s website. Yes, it’s that simple! Our team will take it up from there, making it a hassle-free process for you.
100% Free Assistance: Lorien doesn’t charge any processing fee or commission for student loans for your study abroad journey!
Quicker Loans: With constant application tracking and status updates, our experts ensure that your education loan for studying abroad gets sanctioned as early as possible.
Higher chances of approval: In case of any missing documents or other issues, Lorien’s team promptly reaches out to the bank to find solutions to increase your chances of getting a study loan for your overseas education.
Helping you fulfil your study abroad dream!
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Eligibility Criteria For IDFC Bank Education Loan Abroad
For Courses
- Graduation and post-graduation courses and diplomas recognised and authorised by UGC/AICTE/IMC/Government of India & ICMR
- Professional and technical courses such as Law, Management, Medicine, Engineering, Aviation and more from recognised institutions.
- Vocational or skill development courses recognised by the government.
- Courses offered by IIM, IIT, IISC, XLRI, NIFT, and other institutions.
For Applicant
- Must be an Indian citizen
- Must be enrolled in a recognised institution for professional & technical studies.
- If has work experience, must be of minimum 3 years.
For Applicant:
- Identity proof (PAN Card or Employee Identity card)
- Proof of address (Electricity bill, Telephone bill, or Ration card)
- Bank statements for the last 6 months from all banks
- Schedule of expenses, including fee structure and living expenses
- Mark sheets for 10th and 12th grade and degree certificate
For co-applicant:
- IDFC FIRST Bank Application Form
- KYC Documents
- Income Proof (if required)
- Collateral Documents (if required)
- They could be a parent, guardian, relative, sibling or someone close
Documents Required
FAQs
Bringing answers to your questions
What is the interest rate on education loans for studying abroad?
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 with Lorien Finance. Just fill out the form on our website, and our experts will schedule a callback to guide you through the application process, help you upload the necessary documents online, and present the application to IDFC Bank. Once all documents are uploaded and the KYC process is complete, the loan is expected to be sanctioned within a few working days.
Does IDFC Bank offer 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 benefits for exceptional academic performance, Lorien Finance, your trusted education loan partner, works diligently to ensure you access the most favourable 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 personalised support to enhance your overall experience.
Is there a co-applicant or guarantor required for the loan?
IDFC Bank’s education loans require a co-applicant, and it is typically the student's parents. In certain cases, a guardian, relative, or sibling 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 Finance can facilitate this communication, ensuring you receive accurate and personalised information customised to your needs.Contact us to navigate the intricacies of collateral or security for your IDFC Bank’s education loan and make your application process smoother and more transparent.
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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...
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Sharikha
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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...
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