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Apply for Education Loan in India
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Education Loan EMI Calculator
Loan amount
₹
Interest rate (p.a.)
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Tenure (Months)
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Education Loan in India: Fund Your Higher Studies Today
Planning higher studies in India but worried about finances? IDFC FIRST Bank offers education loans in India tailored to your unique needs—whether you’re pursuing an MBA, MBBS, or vocational course. Our student loans cover tuition, hostel, exam fees, laptops, travel, and insurance, ensuring a smooth academic journey.
With low interest education loans and flexible repayment options, you can focus on learning while we handle the funding. Learn how to apply for an education loan, check education loan interest rates, and get your loan sanctioned quickly through our fully digital process. Don’t let finances hold you back—apply for your student loan today!
Fees & Charges:
Education Loan Interest Rate Offerings
High Loan Amount
Education loan available up to ₹1.5 Crore* for studies in India and abroad
Collateral-Free Options
Secure collateral-free loans up to ₹75 Lakhs* for select institutions
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100% Financing
Complete coverage of your education expenses with up to 100% funding*
Competitive Interest Rates
Attractive rates starting from 9.5% p.a.* with transparent pricing
Flexible Loan Tenure
Repayment period up to 15 years* to match your financial capacity
Comprehensive Expense Coverage
Coverage for Tution, Hostel, Laptop, Books and other related expenses
Financial Benefits
Income Tax Benefits under section 80E, Zero prepayment charges & Flexible repayment options
How to Apply for an Education Loan?
IDFC FIRST Mobile Banking App
Apply for and manage your education loan
anytime, anywhere.
Who can Apply for an Education Loan?
Applicants with a valid
Admission Letter from
their course/institute
Indian nationals
(including NRIs)
Aged 18 years or above
Applicants without
admission can opt for
a pre-admission sanction
Documentation Required for Education Loan:
Student
- Fully-filled application form
- Photo ID proof
- Proof of residence
- Passport-sized photograph
- Proof of admission / entrance exam score e.g. GRE, IELTS, GMAT etc.
- Fee structure document
- Salary slips of experienced candidates
- Visa copy for overseas education (Pre-visa documents in case visa not received)
- Academic documents
Co-applicant
- Fully-filled application form
- Last 6 months’ bank statements, if required
- Photo ID proof
- Proof of residence
- Passport-sized photograph
- Relationship proof
- Balance fund proof
- Residence ownership proof
- Collateral documents, if applicable
- Income proof, if applicable
Testimonials
"IDFC FIRST Bank Ltd. helped me avail an education loan from them in a simple, smooth, and seamless way. The team explained the procedure patiently, answered all my queries and were very flexible in accommodating my requests, which normally does not happen with other financial institutions. The team is proactive and courteous, all the documentation was hassle free and services were provided right at the doorstep."
Neha Dadhich
"Hello Guys, my name’s Siddhesh Wagh and I’m from Thane. My main motive behind this video is to thank to IDFC FIRST Bank and Ganesh sir who is my education loan assistant. Since childhood I always dreamt of completing my higher education abroad but due to the financial problem it is very difficult for the middle-class family student but IDFC FIRST Bank & Ganesh sir helped me to fulfil my dream by providing an unsecured loan. Ganesh sir has provided generous assistance throughout the loan process right from the application process to the disbursement of the loan; also IDFC FIRST Bank provides all this education loan services at your home from opening the bank account to signing the agreement. So, I would like to advise you all to grab this opportunity to fulfil your dream. Once again, thank you IDFC FIRST Bank & Ganesh sir."
Siddhesh Wagh
"I would like to appreciate the IDFC FIRST Bank Education Loan team, for immensely supporting me. I applied for a loan in month of March and I don't think I have to mention what March means for bank employees but still they supported me and answered each of my queries."
Ashish Bhanushali
"Hi I am Riddhi Bajaj and I’m pursuing my masters from National University of Singapore. For me the idea of transforming businesses with the result-oriented approach draws me to entrepreneurship. Being an independent woman, I am no stranger to my privileges, which is why I wish to make a difference in lives of those in need; especially women who do not get the same opportunities. IDFC First bank supported me in taking my first step towards turning this dream into a reality. Their super supportive team stepped in & helped me sail through this otherwise taxing process with ease. They guided me through all the steps with patience and honesty. I have nothing but immense gratitude for each & every one who made this possible. Thank you for everything."
Riddhi Bajaj
"I had dreamed of studying and becoming a successful person in my life. I always wanted to study abroad but coming from a normal family it was difficult for me to pay such a huge amount for paying my fees. After receiving an offer from my college in canada i came across IDFC bank educational loan. I applied for it and the people assisting me with the process were so understanding and helpful. Tanvi ma'am helped me with the process from start to end till my loan amount was credited to my account. She is still helping me out with all my queries. The total amount of 32,00,000 was sanctioned which covered all my expenses and i was able to achieve my dream. The tenure is 12 years and with really nominal rate of interest. I would like to thank you sincerely to tanvi ma'am and other people who have helped me along the way. I have a very positive experience with IDFC Bank and will always recommend IDFC bank for any financial requirements to my family and friends."
Priyal Khuman
Education Loan Blogs
Abroad Education Loan Interest Rates: What Affects Them and How to Choose Wisely
Pursuing higher education abroad is a dream for many—and while it's achievable, it's also expensive.
Secured vs. unsecured education loans for studying abroad
Planning to study abroad is exciting, but arranging funds for it can feel overwhelming.
Your Guide to Getting a Student Loan to Study Abroad
Studying abroad is a dream for many students—but let’s face it, international education comes with a significant cost.
No property? No problem: Study abroad loans without collateral explained
Studying abroad is aspiration for many—but let us be honest, it can be costly
Complete educational finance with the best education loan in India
The demand for education is on the rise, with over 65% of the population under the age of 35
Frequently Asked Questions on Education Loan in India
All
General
Features and Benefits
Interest Rates and Charges
Loan Application
Tax
Will my education loan cover additional expenses, if I choose to study in India?
Yes. Apart from the college-related expenses, our student loans also cover travel expenses, purchase of computer/laptops and insurance costs.
How to apply for education loan at IDFC FIRST Bank?
We have simplified the procedure wherein we offer convenience of applying through various modes including our website, branch, mobile application and phone banking. You can even verify your eligibility for a student loan online.
Do I need a co-applicant for my education loan?
Yes, co-applicant is required to avail student loans at IDFC FIRST Bank.
I have an existing student loan with other bank. Can I transfer it to IDFC FIRST Bank?
Yes. Our Balance Transfer feature allows you to switch your existing education loan to IDFC FIRST Bank.