IDFC FIRST Bank Education Loan: Eligibility and how to apply?

Summary: IDFC FIRST Bank provides students with education loans at competitive interest rates, and no upper loan limit. Continue reading more about IDFC FIRST Bank Education Loan, how to apply for an education loan, and education loan eligibility.

19 Oct 2023 by Team FinFIRST

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IDFC FIRST Bank provides its customers with education loans at an attractive interest rates. and IDFC FIRST Bank Education Loans cover both college-related expenses such as tuition fees, and other expenses such as health insurance and travel expenses.

In this article, we give you an overview of the IDFC FIRST Bank Education Loan, including the education loan process, and education loan eligibility.

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Features and benefits of IDFC First Bank Education Loans

IDFC FIRST Bank Education Loans provide several advantages, including -

Education loan available up to INR 1 Cr.*
Collateral-free loans up to INR 50 lakhs*
Up to 100% financing*
Flexible loan tenure up to 15 years*
Flexible repayment options
Hassle-free education financing fulfilled at your doorstep
Customised solutions tailored as per your needs
Income tax benefits under section 80E
Funding additional expenses (travel expenses, purchase of laptop/books/uniform, insurance cost etc.) along with college related expense

Documents required for IDFC FIRST Bank Education Loan

Here is a list of documents required to complete an education loan process -

Proof of identity
Proof of address
Copy of admission letter along with fees schedule
Self-attested photo identification proof
Copy of visa
Academic documents such as passing certificates of senior and higher secondary, degree courses
Salary slip (only for experienced candidates)
Bank statement/passbook of last six months (co-applicant)

IDFC FIRST Bank Education Loan eligibility

Before we jump into 'how to apply for an education loan', here are some specific education loan eligibility criteria you need to meet to avail of the loan -

Must be an Indian resident, or a non-resident Indian (NRI)
Must be a minimum of eighteen years old
Must have secured admission into the desired institution or course

In case you don’t have secured admission, you need to get a pre-admission sanction letter from your institution.

How to apply for an education loan?

Here is a step-by-step guide on how to apply for an education loan -

Visit the official website of IDFC FIRST Bank Education Loan
Click on ‘Apply now’
Enter all the necessary details such as name, email address, mobile number, and city
Click on ‘Proceed’

Also read - Are you making these 5 mistakes with Education Loans?

Wrapping up

You can also apply for an IDFC FIRST Bank Education Loan by visiting the nearest IDFC FIRST Bank branch. Simply fill out the relevant form with all the necessary details and ensure that you have all the requested documents ready when submitting the form.

IDFC FIRST Bank offers attractive interest rates on education loans with customised solutions and a hassle-free education loan process. Click on the link and apply for an IDFC FIRST Bank Education Loan now.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.

The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirst.bank.in for latest updates.