Education Loans from IDBI Bank
IDBI Bank provides financial assistance to meritorious students who opt to further continue higher studies either in India or abroad.
Courses Eligible for IDBI Education Loans
Among th various courses that a student can pursue, certain courses attract loan sanctioning for the applicants. Benefits like easy repayment options make the loan scheme attractive among the students.
Studies in India
Various graduation, post graduation, professional and computer certificate courses are considered for loan sanction.
Other courses like CA, ICWA, CFA, courses conducted by reputed institutions like IIT, XLRI, IIT, NIFT, evening courses and those conducted by reputed foreign universities and institutions in India also form a part of the list of courses which are considered eligible for application of loan.
Diploma and degree courses conducted by various universities and colleges which are approved by AICTE, ICMR, AIBMS, Government and UGC are also considered.
Undergraduate, postgraduate and courses conducted by CPA in USA and CIMA-London are also considered eligible for loan application.
Quantum of Loan
The maximum amount of education loan offered for studies in India is Rs. 10 lacs and for studies abroad it is Rs. 20 lacs.
Expenses Covered by IDBI Student Loan
IDBI education loan covers the expenses of students such as fees to be paid for examination and hostel charges, library and laboratory fees, books, instruments, caution deposit, refundable deposit, instruments and building fund. Apart from this, it also includes the travel expenses which are done if the student goes abroad for study.
Repayment of IDBI Education Loan
The repayment commences either one year after the completion of the course or six months after one gets employed, whichever happens earlier. The repayment period of loan is 5 to 7 years.
In order to know more about Education Loans from IDBI browse through IDBI Bank