IDBI Bank Education Loan can be rightly called a loan for all your education needs. The loan is available for various courses and can be availed by all those who would like to pursue their dreams of higher studies in India or abroad. IDBI Education Loans have been successful in helping out students by providing them the much needed financial assistance for most of the recognized courses. IDBI Bank Education Loan can be availed through the banks hassle free procedure for a successful life ahead.

IDBI Bank Education Loan Interest Rate:

The IDBI Bank Education Loan interest rate is based on the competitive Base Rate which is attractive and can be availed for study in India and abroad.

IDBI Bank Education Loan rate is 12.75% for up to Rs 4 lacs and 13.00% for above Rs 4.lacs. The rate for students of IIT, IIM and ISB is 12.00%. Most students looking for Bank finance find IDBI Bank Education Loan interest rate very competitive and attractive.

IDBI Bank Education Loan Eligibility And Expenses Covered:

IDBI Bank Education Loan can be availed by any resident Indian. The IDBI Bank Education Loan rate can be availed for any graduation and post graduation courses. All Recognized Courses like:

B.A., B.Sc, B.Com, Masters and Ph.d course, Engineering, Medicine, Agriculture, Law, Dental etc.

• ·ICWAI
• ·CA, CFA
• ·IIM, IISc
• ·IIT, XLRI

Loan is also offered for courses by UGC / Govt. / AICTE/ AIBMS / ICMR that qualify for IDBI Bank Education Loan eligibility.

The loan applicant has to pay margin money ranging from 5-15 % of the total loan amount applied for courses in India & Abroad.

Other Qualifications For IDBI Bank Education Loan Eligibility Are:

• ·For IDBI Bank Education Loan eligibility the candidate should be a Resident Indian.
• ·Admission to technical courses in India is possible through IDBI Bank Education Loan eligibility.
• ·A co-applicant is required for full time courses.
• ·The maximum loan for studies in India is at the maximum is Rs.10 lacs
• ·The maximum loan for studies abroad is at the maximum is Rs. 20 lacs.

The expenses covered under the IDBI Bank Education Loan interest rate is

• ·School/College Fee
• ·Hostel and Library charges
• ·Caution deposit
• ·Travel Expenses
• ·Money for Study tours, Project work, Thesis or Computer purchase etc.

IDBI Bank Education Loan Review And Documentation:

According to the IDBI Bank Education Loan review the student would need to provide the following documents for the processing of the loan apart from Proof of Age, Signature, Identity and Residence:

• ·Fully completed loan application form along with Institutes Admission letter with Fee Break up.
• ·Two Photographs

IDBI Bank Education Loan Review And Documentation For The Salaried Co- Borrower:

• ·Bank Statement for last 6 months.
• ·Income Tax Statement for the last two years
• ·A brief about the asset and liabilities possessed by the borrower
• ·Latest 2 Salary slips

IDBI Bank Education Loan review and documentation for the self employed individual

• ·Bank Statement
• ·Income Tax Return
• ·Profit and Loss Account or Balance Sheet of the Company
• ·Proof of Qualification.

IDBI Bank Education Loan Review And Application Procedure:

IDBI Bank Education Loan application forms are available at all bank branches across India. The filled up forms can be then submitted along with the loan application at the branch and the loan will be disbursed in installments to the college or institute directly.

IDBI Bank Education Loan Rate Repayment Option And Pre Closure Process:

The loan needs to be paid back in maximum 5-7 years from the date of disbursement of the loan. The student can avail a repayment holiday for a period of six months or till the person gets a job or whichever is earlier. Check with nearest branch for pre closure charges and late fee charges.

IDBI Bank Education Loan Tax benefits: One can get tax benefits if any according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.

More details on IDBI Bank Education Loan eligibility and IDBI Bank Education Loan Rate etc. are on the official site at

http://www.idbibank.com/loan_Education_Loan.asp