It is great that you want to opt for education loan in order to pursue higher studies. There are several banks in India, which offer education loans to meritorious students willing to study higher education in India or abroad. Even IDBI Bank provides financial assistance to deserving candidates.

Courses Eligible for IDBI Education Loans

There are plenty of courses considered eligible for IDBI Student Loan and the easy repayment options make the loan scheme attractive among the students.

Studies in India

1. Various graduation, post graduation, professional and computer certificate courses.
2. Other courses like CA, ICWA, CFA, courses conducted by reputed institutions like IIT, XLRI, IIT, NIFT, evening courses and those conducted by reputed foreign universities and institutions in India.
3. Diploma and degree courses conducted by various universities and colleges which are approved by AICTE, ICMR, AIBMS, Government and UGC.

Studies Abroad

• Undergraduate, postgraduate and courses conducted by CPA in USA and CIMA-London.

Quantum of Loan
The maximum amount of education loan offered for studies in India is Rs.10 lacs and for studies abroad it is Rs. 20 lacs.

Expenses Covered by IDBI Student Loan
The expenses covered by IDBI education loan include fees to be paid for examination and hostel charges, library and laboratory fees, books, instruments, caution deposit, refundable deposit, instruments and building fund. The loan also covers the travel expenses of the students going abroad.

Repayment of IDBI Education Loan
The repayment commences either one year after the completion of the course or six months after one gets employed, whichever happens earlier.

The loan should be paid back within 5 to 7 years.