IDBI Education Loan

IDBI Education Loan is a financial support scheme provided by the Industrial Development Bank of India (IDBI) to assist meritorious students in pursuing higher education, both in India and abroad. The loan aims to cover various educational expenses and empower students to achieve their academic goals.
There are four types of loan schemes offered by IDBI for different educational purposes:

Loans for vocational education/courses.

Loan for non-vocational courses.

Education Loan under Financial Inclusion Programme (FIP).

Loan for students admitted through the management quota.

Documents Required

Address proof

Identification card

Application form

Passport-size photographs

Admission Letter

Income proof of the guarantor

Collateral Security documents

GRE/IELTS/TOEFL/GMAT Score

10th and 12th exam mark sheets

Eligibility Criteria

The student should be of Indian nationality.

Admission should be secured through entrance tests or merit-based selection.

For candidates admitted through management quota, additional marks above the standard requirement are necessary.

General/ST/SC/OBC specifications must be fulfilled.

IDBI offers loans for students pursuing studies at foreign universities. Eligibility criteria include:

The applicant's age should not exceed 35 for foreign universities and 30 for Indian universities.

Parent(s) or guarantors' age should be under 55.

The family's annual income must be at least Rs. 3 lakhs.

This education loan is eligible for all courses.

United Way Of Baroda Education Loan

United Way Of Baroda Foundation

Education Loan

31 December

Bachelors

Masters

JITO Education Assistance Foundation Education Loan

JITO

Education Loan

31 December

All

OBC Rights Eduacation Loan

OBC Rights

Education Loan

31 December

All

Goa Interest Free Education Loan

Goa Education Development Corporation (GEDC)

Education Loan

28 February

All

Student Credit Card Free Loan Scheme

The Department Of Higher Education, Govt. Of West Bengal

₹ 10,00,000

31 December

All

Paras Education Services Education Loan

Paras Education Services

Education Loan

31 December

Engineering

Medical

Professional courses

Jain Jagruti Charitable Trust Education Loan

Jain Jagruti Charitable Trust

Education Loan

31 December

Engineering

Medical

Bachelors

Masters

Professional courses

Valor Trust Education Loan

Valor Trust

$5000

31 December

Professional courses

Zalawadi Sabha Charitable Foundation Education Loan

Zalawadi Sabha Charitable Foundation

Education Loan

31 December

Engineering

Masters

PHD

Professional courses

Edu Trust Education Loan

Edu Trust

₹ 7,50,000

31 December

Engineering

Medical

Bachelors

Masters

Professional courses

Bunts Sangha Interest Free Loan 2024

Bunts’ Sangha Bangalore

₹ 30,000

31 December

Diploma

Engineering

Bachelors

Others

Rotary Club Of Mulund Interest Free Loan 2024

The Rotary Club Of Mulund

Financial Assistance

25 August

ITI

Diploma

Engineering

Medical

Bachelors

Masters

United Way Of Baroda Education Loan

United Way Of Baroda Foundation

Education Loan

31 December

Bachelors

Masters

JITO Education Assistance Foundation Education Loan

JITO

Education Loan

31 December

All

OBC Rights Eduacation Loan

OBC Rights

Education Loan

31 December

All

Goa Interest Free Education Loan

Goa Education Development Corporation (GEDC)

Education Loan

28 February

All

Student Credit Card Free Loan Scheme

The Department Of Higher Education, Govt. Of West Bengal

₹ 10,00,000

31 December

All

Paras Education Services Education Loan

Paras Education Services

Education Loan

31 December

Engineering

Medical

Professional courses

Jain Jagruti Charitable Trust Education Loan

Jain Jagruti Charitable Trust

Education Loan

31 December

Engineering

Medical

Bachelors

Masters

Professional courses

Valor Trust Education Loan

Valor Trust

$5000

31 December

Professional courses

Zalawadi Sabha Charitable Foundation Education Loan

Zalawadi Sabha Charitable Foundation

Education Loan

31 December

Engineering

Masters

PHD

Professional courses

Edu Trust Education Loan

Edu Trust

₹ 7,50,000

31 December

Engineering

Medical

Bachelors

Masters

Professional courses

Bunts Sangha Interest Free Loan 2024

Bunts’ Sangha Bangalore

₹ 30,000

31 December

Diploma

Engineering

Bachelors

Others

Rotary Club Of Mulund Interest Free Loan 2024

The Rotary Club Of Mulund

Financial Assistance

25 August

ITI

Diploma

Engineering

Medical

Bachelors

Masters

List of Benefits

IDBI Education Loan Amount:

The loan amount depends on the income of parents and students, along with their repaying capabilities. The maximum loan amount is Rs. 10 lakhs for studying in India and Rs. 20 lakhs for studying abroad.

IDBI Education Loan Interest Rate:

The interest rates vary based on the type of course:

Non-Vocational Courses: 8 – 9%

Vocational/Skill Development Courses: 9 – 10%

Premier Education Institutes Courses: 7 – 8%

Repayment & EMI Method

Repayment Details:

Repayment period up to 10 years for loans up to Rs. 7.5 lakhs.

Repayment period up to 15 years for loans above Rs. 7.5 lakhs.

Moratorium period includes the course duration plus an additional year or 6 months after securing employment.

EMI Payment Methods:

EMI payments can be made through standing instruction, electronic clearing service, or post-dated cheques from a non-IDBI bank account.

How To Apply

Steps to be followed:
1. Visit our official website.
2. Click on register
3. Login and apply
4. Fill the required details in the form
5. Upload relevant documents
6. Review and Submit the application.