Educational Loans For Indian Students From IDBI

This article will covers some important aspects one should know about the Educational loans Offered by IDBI, India.

Educational loans From IDBI

IDBI Education loans 2IDBI is a Universal bank and a leading and eminent bank in the Indian financial sector. The IDBI bank has branches at Dubai and are looking forward to start branches all over the Globe. The IDBI bank has almost 1020 branches and more than 1300 ATMs all over India. IDBI bank offers educational loans for various courses in India and abroad. The IDBI Educational loans are definitely a helping hand for those students who are financially not sound and looking for a bright future. This article will enumerate some important aspects one should know about IDBI Education loans.

IDBI Education Loan Amount

1, For Studies abroad an amount of 20 Lakh Rupees is the maximum.
2, For Studies in India IDBI offer Educational loans up to 10 lakh Rupees maximum.
3, The loan margins by IDBI educational loans for studies in India is the 5% of the total expenditure and for that of abroad is 15% of the total expenditure.

The Expenditures covered under IDBI Educational loan.

1, The total fees payable to the Educational institution ie School, College, Hostel etc.
2, All the Examination fees, library expenses, laboratory fees etc will be included under the IDBI Educational loan.
3, The expenses including auction deposit, building fund, refundable deposit supported by Institution bills and receipts are included in the IDBI Educational loan.
4, The expenses including Purchase of books, equipments, instruments, uniforms, Purchase of computers if it is essential for completion of the course.
5, Also included other expenses which are essential for completion of the course such as study tours, thesis, projects, dissertations etc will be included under the IDBI Educational loan.

The Repayment period for IDBI Educational loans.

The IDBI Educational loans should be started repaying after one year after the course period or 6 months after getting a job provided whichever comes earlier. The maximum tenure for the repayment of IDBI Educational loans are a maximum of 84 months ie 5 to 7 years.

The courses eligible for IDBI Educational loans.

Studies in India

1, All the graduation courses including BA, B.Sc, B.Com etc.
2, All the post graduation courses which includes masters and Phd degrees.
3, All the Professional courses such as Medical, Engineering, Vetinary, Agriculture, Management, Law, Dental, Computer etc are included under IDBI Educational loans.
4, The courses like ICWA, CA, CFA etc and the courses conducted by IIM, IIT, IISc, XLRI. NIFT are also eligible for the IDBI Educational loans.
5, The courses offered in India by foreign universities and some evening courses of approved institutes and other courses leading to diploma, degree etc which are conducted by colleges or universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc.

Studies Abroad

All the Graduation courses offered for job oriented professional or technical courses offered by reputed universities. Also for all the Post graduation courses like MCA, MBA, MS, etc IDBI Educational loans are given. The IDBI Educational loans are also given to the courses conducted by CIMA- London, CPA in USA etc. Some special courses like Aeronautical, pilot training, shipping etc which are approved by Director General of Civil Aviation and Shipping are also eligible for the IDBI Education loans. If the course is pursued abroad, the Institute has to be recognized by the Indian Aviation and shipping authority.

Contact Details of IDBI Bank Ltd.

IDBI Tower,
WTC Complex,
Cuffe Parade,
Mumbai- 400005.
Tel No- (+91-22) 2218 9111 / 6655 3355
Toll free No- 1800-22-1070 (MTNL / BSNL), 1800-200-1947 (Reliance or any other mobile no)

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