|| For Professional courses i.e. B.E. B.Tech.,
|| Post Graduate Courses i.e. M.E., M.Tech.,
M.S., M.D., M.B.A., M.C.A., etc. recognized by AICTE. For part time /
on-line distance learning courses (subject to terms &
For Graduate/Post Graduate/Research/ Doctorate studies that insist on
TOEFL, GRE, GMAT scores.
For Graduate courses: at least 75% in the +2 stage. For Post Graduate
Courses: first class graduates.
|| Proof of TOEFL, GMAT, GRE score
card, and 120 admit card.
|| Age of the applicant should not be more than 30
years for Indian Universities and 35 for
Foreign Universities. Age of the
parent / Guarantors should be below 55 Years. The annual income of the family should not
be less than Rs. 3 lakhs.
||For Indian Universities, actual tuition and other
fees, but not exceeding Rs. 5 Lakhs for
the entire duration of the course.
||For Foreign Universities, considering that in
addition to fees, there are
travel/preparatory expenses, the loan amount would not exceed Rs. 15 Lakhs,
Equitable mortgage of property or other security having market value of
150% of loan amount Or Pledge of Bank Deposits /NSC/Kisan Vikas Patra or
any other Government Securities with face value of not less than 100% of
the loan amount Or Should be a mortgage of property/pledge of securities.
Insurance cover for the student borrower in addition.
Students can apply for the loan singly or jointly with parents/guardians /
third party guarantors.
For Loans up to Rs. 4 Lakhs, Long term Prime Lending Rate. For Loan:>
above Rs. 4 Lakhs, Long term Prime Lending Rate + 1 % P.A. Processing Fees
will be 0.5% of the loan amount. Cost of documentation / legal expenses at
Maximum moratorium period of 5 years including the actual duration of the
course, after which the loan should be repaid within the next 3 years.
Post Graduate Studies
Moratorium period of2 years i.e. the course duration. Loan repayment
within the next 3 years.
Special about educational loans
IDBI bank has structured this special loan facility around the student's
needs and the family's repayment capacity. Loan is available for part-time
courses and on-line education too (subject to terms & conditions).
Flexible repayment options. No prepayment penalties levied. In fact, there
are incentives for prompt repayment. Like refund of the entire processing
fee, if not a single instalment is missed / delayed. Go on give your
son/daughter the best of opportunities.
Since the rules, regulations, eligibility conditions, repayments and
interests rates etc. are revised by the banks from time to time in keeping
pace with the changing capital market conditions, students and parents are
advised to thoroughly check the terms and conditions of educational loan
scheme on offer at the time of application.
IDBI Towers, Cuffe Parade, Colaba
Mumbai - 400 005