IDBI Education Loan

IDBI Education Loan


To provide educational loan to deserving students so that they can acquire knowledge and skill in the field of their interest.

Facility provided:

ü  Cost of education covering fee payable to college / school / hostel, exam fees, purchase of books / equipment's, travel expenses / passage money for studies abroad, purchase of computers essential for completion of the course etc.

ü  Caution Deposit, Building fund/ refundable deposit supported by institution bills/receipts, subject to a maximum of 10% of total tuition fees for the entire course.

ü  Insurance premium for student borrower

Student should fulfil the following:

ü  Should be Indian National.

ü  Should have secured admission to professional / technical courses in India or abroad through Entrance Test / Merit based selection process.

Courses for which student can apply:

Studies in India

ü  Diploma/Graduation/Post-graduation courses in any disciplines.

ü  Computer certificate courses of reputed institutes accredited to The Department of Electronics

Studies in abroad

ü  Job-oriented professional/technical courses offered by reputed universities.

ü  Courses conducted by CIMA - London, CPA in USA etc.

Quantum of loan:

ü  Rs.10.00 lakhs for Studies in India

ü  Rs.20.00 lakhs for Studies Abroad

Important: The loan can be sanctioned from the branch nearest to the place of domicile


ü  Upto Rs.4.00 lakhs - NIL

ü  Above Rs.4.00 lakhs: For Studies in India - 5% 
For Studies Abroad - 15%

Details of rate of interest:

ü  12.50 % p.a. at present (irrespective of the loan limit sanctioned under both IBA as well as non-IBA scheme)

ü  Concession of 0.50% in applicable rate of interest will be allowed on fresh Educational Loans under IBA Scheme to Girl Students for studies in India and Abroad with effect from 1st July 2016. This interest concession will not be applicable to Education Loans under non-IBA scheme.

ü  Educational Loan borrowers who are enjoying finer rate of interest allowed to select premier educational institutions.

ü  Floating Rate linked with Base Rate (BR) of the Bank and liable to undergo changes whenever there is a change in BR


Repayment of the loan is done after the course period +1 year or 6 months after getting a job, whichever is earlier.

Repayable in 5- 7 years

Insurance required:

Life Insurance covers available to the student borrowers under 'New IB Jeevan Vidya' Insurance Scheme

Necessary security:

Documents should be executed both by the student and parent / guardian as joint borrower.

1. Upto Rs. 4 lakh - No security

2. Above Rs. 4 lakh & Upto Rs.7.50 lakh - Collateral in the form of satisfactory third party guarantee

3. Above Rs.7.50 lakh - Co-obligation of parents / guardians together with tangible collateral security of suitable value along with assignment of future income of the student for payment of installments


Sl. No.


For studies in India

For studies Abroad


Proof of residence

Xerox copies of Ration Card or Voters Identity Card or Passport or Electricity or Telephone bill or any such document acceptable to the bank

Same as in Col.3


Academic record

Copy of the Xth std/XIIth std mark list, for under graduates. Degree mark list/provisional certificate for post graduates

Same as in Col.3


a. Date of birth/age
b. Community (for statistical purpose only)

SSLC/TC/Mark list 
Community Certificate

Same as in Col.3 besides Passport


Family Income

Salary certificate/Pension certificate/Auditor's certificate in case of business category/IT return filed/any other proof for the income stated

Same as in Col.3



Admission letter/Bonafide student certificate from the College/University

Certificate/I 20 from the College/University


Fee structure

Letter/Certificate from the College/University

Certificate/I 20 from the College/University



Not applicable

Copies to be enclosed



Parent's/Guardian's Co-obligation to be furnished

Same as in Col.3


Collateral, wherever required

LIC policy (surrender value of which should be not less than the loan amount at the time of availing the loan) /Share certificates/Units of UTI etc. Valuation certificate from Bank's approved panel valuer and legal opinion from Bank's panel advocate in case of land/buildings.

Same as in Col.3


Margin (Above Rs.4.00 lakhs)
For studies in India: 5%
For studies abroad: 15%

Details regarding source of funds for meeting the margin furnished along with documentary evidence

Same as in Col.3


Declaration/affidavit stating that no Educational Loan is availed from any other bank by the applicant and his parent




Documents to be enclosed

  • A & L of the student/parent/guardian/guarantor
  • Details of securities in Col.9

Same as in Col.3

Ask our Counsellors

Newsletter Subscription

way2college logo