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IDFC FIRST Bank is an Indian private sector bank based in Mumbai. Founded in 2015 as a banking subsidiary of IDFC Limited, it shifted focus from infrastructure financing to retail banking after its 2018 merger with Capital First, and in 2024 took over its parent IDFC Limited in a reverse merger.
IDFC FIRST Bank - Education Loan
4 days Avg Loan Processing Time
Apply NowOur education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.
Margin
NIL
Collateral
Collateral free loans available
Loan Tenure
Up to 15 Years
Processing fee
0.5% to 1.0%
Early Repayment
Yes (without any charges)
Living Cost
Yes
Secured Loan
Up To 2Cr
Un-Secured Loan
Up To 75Lac
Features of IDFC FIRST Bank Education Loan For Abroad Studies
Earning acceptance to your dream university abroad brings both joy and financial questions. Here you'll find the details of IDFC FIRST Bank's education loan program — interest rates, loan amounts and processing.
| Features | Education Loan Details |
|---|---|
| Loan amount | Upto ₹2Cr (Collateral) / Upto ₹75Lac (Without Collateral) |
| Margin money | Nil |
| Processing fee | 0.5% to 1.0% |
| Processing time | 4 Days |
| Loan tenure | 15 Years (including study and grace period) |
| Prepayment charges | Nil |
| Repayment holiday | Partial simple interest / Simple interest / Direct EMI. Course duration plus a 12-month grace period (subject to IDFC FIRST Bank policy). |
| Countries covered | USA, UK, Canada, Ireland, Germany, Australia, Singapore amongst many more |
Eligibility Criteria to Apply for IDFC FIRST Bank Education Loan
It is important to be informed about your eligibility to stay on track for international education. The following are the major determining factors you need to check for the IDFC FIRST Bank Study Abroad Education Loan.
| Type | Requirement |
|---|---|
| Eligible Courses | The programme is exclusively designed for Indian students pursuing higher education abroad. |
| Age Requirement | The candidate should be 18 years of age or above. |
| Admission Secured | A confirmed admission letter from a recognized overseas university is mandatory. |
| Course Accreditation | The programme generally covers accredited courses offered by universities abroad. |
Benefits of IDFC FIRST Bank Study Abroad Loan
100% Financing on Global Education
IDFC FIRST Bank finances up to 100% (up to ₹75 lakhs for platinum-plus students) of your educational expenses, removing the burden of upfront costs.
Flexible Repayment Tenure
Enjoy a moratorium of 6 months to 1 year* after course completion before EMIs begin, with the option to make interest payments during the moratorium to reduce your overall burden.
Supporting Female Students
An interest rate concession of 0.5%* on the applicable card rate is offered especially for female students.
Savings with Tax Benefits
The interest you pay is tax-deductible under Section 80E of the Income Tax Act, significantly reducing your overall loan cost.
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