Looking for an Education Loan from IDBI Bank?

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Education Loans from IDBI Bank

With the motto “Bank Aisa Dost Jaisa”, IDBI Bank offers a truly student-friendly range of education loans to different segments of the student population. These loans are aimed at providing financial support to deserving students for pursuing higher education in India and abroad. IDBI Bank offers eight education loans, each for a particular student segment or purpose.

The education loans from IDBI Bank are:

  1. Education Loan for Non-Vocational Courses (General)
  2. Education Loan for Non-Vocational Courses for Studying in Premier Education Institutes
  3. Education Loan for Non-Vocational Courses for Chartered Accountant Course Offered by ICAI, ICWAI and ICSI
  4. Education Loan for Students Who Secured Admission Through Management Quota
  5. Education Loan Scheme for Specialised Courses
  6. Education Loan Scheme to Physically Challenged Persons Under NHFDC
  7. Udaan: A Unique Saving-cum-Education-Loan Scheme
  8. Skill Loan Scheme

In addition, the bank offers two Government of India Interest Subsidy Schemes on education loans.

We give you a brief intro to each below. In addition, you have the option to click further and read in detail about each loan on a specific page of its own. This specific page has been made specifically for you to get all the information you need on that loan and the schemes in an uncluttered and easy-to-read format.

IDBI Bank Education Loan for Non-Vocational Courses (General)

This IDBI study loan helps students finance their education and realise their dreams of pursuing higher education at recognised educational institutions in India or abroad.

Features of IDBI Education Loan for Non-Vocational Courses

Why this Loan?

  • The loan is meant to help students who have secured admission into a non-vocational higher education course in a recognised institution in India or abroad through Entrance Test or Merit-based Selection Process
  • The IDBI Education Loan for Non-Vocational Courses is disbursed as a series of payments over the required number of years and not as a lump sum
  • The loan can be taken for all expenses directly related to the course including for fees, purchase of books, laptops, hostel fees, lab fees, examination fees, etc.

IDBI Bank Education Loan for Non-Vocational Courses for Studying in Premier Educational Institutes

This loan is meant for students pursuing non-vocational courses from premier educational institutes in the country. The maximum loan amount is capped at Rs. 30 lakh or 100% cost of the programme whichever is lower.

Features of Education Loan for Non-Vocational Courses in Premier Educational Institutes

Why this Loan?

  • The loan is meant for you if you have gained admission into a Bachelors, Masters, Doctorate (PhD) or a professional studies programme at a premier institute in the country
  • The IDBI Education Loan for Non-Vocational Courses in Premier Educational Institutions is disbursed as a series of payments directly to the institution as required to pay the fees or other approved charges
  • It can be taken for all expenses directly related to the course including for fees, purchase of books, laptops, hostel fees, lab fees, examination fees, etc.
  • Balance transfer is allowed from other banks to IDBI Bank subject to compliance with norms for balance transfer

IDBI Bank Education Loan for Non-Vocational Courses for Chartered Accountant Course Offered by ICAI, ICWAI and ICSI

This loan is meant for students pursuing a Chartered Accountant course from ICAI, ICWAI and ICSI. The maximum loan amount is capped at Rs. 3 lakh.

Features of IDBI Education Loan for Chartered Accountant Course Offered by ICAI, ICWAI and ICSI

Why this Loan?

  • The IDBI Bank Education Loan for CA Courses is meant for you if you have gained admission into the Chartered Accountant Course offered by ICAI, ICWAI and ICSI
  • It is disbursed to the institution as required to pay the fees or other approved charges such as initial registration fees, purchase of computer or laptop up to Rs. 40,000, money spent on course books, fees for tuition conducted by ICAI, etc.

IDBI Bank Education Loan to Students Who Secured Admission Through Management Quota

This loan helps students who have gained admission into educational institutions for higher studies in India through Management Quota to pay for their course fees. The maximum loan amount that you can apply for is Rs. 10 lakh. Details are below.

Features of Education Loan to Students Who Secured Admission Through Management Quota

Why this Loan?

  • The IDBI Bank Education Loan for Management Quota is meant for you if you have gained admission into a graduate, postgraduate, PhD, professional or any other course in an educational institution in India through Management Quota
  • The bank disburses the loan as a series of payments over the required number of terms or years to pay the course fees or other approved charges
  • This secured loan is applicable for courses offered in India

IDBI Bank Education Loan Scheme for Specialised Courses

This loan helps students who have gained admission into a specialised course to finance their own education. The maximum loan amount that you can apply for is Rs. 15 lakhs. The key feature of this study loan is that in addition to full-time course, it also includes part-time courses, executive programmes and Open university courses.

Features of IDBI Education Loan Scheme for Specialised Courses

Why this Loan?

  • The IDBI Education Loan Scheme for Specialised Courses is meant for you if you are want to pursue a specialised course in India
  • The bank disburses this loan as a series of payments over the required number of terms or years to pay the course fees or other approved charges
  • All specialised courses, whether full-time or part-time are eligible for this study loan. This includes job-oriented courses, skill enhancement courses, career advancement courses such as technical courses, Executive management programmes, etc.

IDBI Bank Education Loan Scheme to Physically Challenged Persons Under NHFDC

This loan helps students having a disability to the extent of 40% or more who have secured admission into a recognised institute in India or abroad through merit-based selection. The maximum loan amount that you can apply for is Rs. 10 lakh for studying in India and Rs. 20 lakh for studying abroad.

Features of Education Loan Scheme for Physically-challenged Persons under NHFDC

Why this Loan?

  • The loan is meant for Persons With Disability (PWD) who have gained admission into a recognised educational Institution in India or a foreign country through Merit Quota
  • The bank disburses the IDBI Education Loan Scheme for Physically Challenged Persons as a series of payments over the required number of terms or years to pay the course fees or other approved charges
  • Eligible students can also apply for interest subsidy schemes, if applicable

IDBI Bank Udaan: A Unique Savings-cum-Education Loan Scheme

This savings-cum-loan scheme helps parents to fund the education of their children studying in Class 8 to 10 up to Class 12 so that they build a corpus to pay for undergraduate courses or other higher studies courses. A new RD account is opened under this scheme for a tenure of 36 months to 60 months depending on when the student will complete Class 12. The minimum instalment is Rs. 1,000 and in multiples of Rs. 500 thereafter.

Features of IDBI Udaan Savings-cum-Education Loan

Why this Loan?

  • The savings cum loan scheme is meant to help students save enough money to fund their higher education after completing Class 12
  • The IDBI Udaan Savings-cum-Education Loan is a pre-approved loan with a maximum loan amount of up to 5 times the maturity value of RD
  • The applicant is free to use the maturity value as per his/her choice after the maturity of RD

IDBI Bank Skill Loan Scheme

This loan helps students who have gained admission into technical courses offered by ITIs, polytechnics, schools, colleges, etc. to pay for their course fees. The loan amount starts from Rs. 5,000 and can go up to Rs. 1.5 lakh depending on the duration of the course.

Features of Skill Loan Scheme for Technical Courses from IDBI Bank

Why this Loan?

  • The loan is meant for you if you have gained admission into a technical course offered by a polytechnic, Industrial Training Institutes (ITIs), etc. in India
  • The IDBI Bank Skill Loan is disbursed as a series of payments over the required number of terms or years to pay the course fees or other approved charges
  • There is no minimum duration of course required to apply for this loan

IDBI Bank Government of India Interest Subsidy Schemes

IDBI Bank offers three Government of India Interest Subsidy Schemes on education loans for meritorious and deserving students. These three schemes are:

  1. Central Sector Subsidy Scheme
  2. Padho Pardesh Scheme on Education Loan
  3. Dr. Ambedkar Central Sector Scheme of Interest Subsidy

Reference Facts

  • IDBI Bank Website: www.idbibank.in and www.inet.idbibank.co.in (net banking)
  • Headquarters: Mumbai, Maharashtra
  • Call Centre Toll-Free Number: 1800 209 4324, 1800 22 1070