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Higher Education loan for Abroad Studies

Pursuing studies overseas brings incomparable benefits by providing career prospects in new markets. But, the journey has several challenges – planning of funds, application process, living and travel expenses. We at IDFC FIRST Bank are happy to handhold you with our thoughtfully curated education loan for abroad studies. You will receive guidance through every step of the journey, right from your loan application to the disbursement, thereby making the admission process hassle-free.Read More

Our foreign education loan application process is simple with end-to-end digitization, which reduces the loan approval time and expedites the loan sanctioning.Read Less

ELIGIBILITY

Who can apply?

  • An Indian National (Including NRI)
  • 18 years old or above at the time of loan commencement
  • Admitted in the desired institution after completion of the pre requisite qualifications

Admission not confirmed yet, Do not worry

  • If the admission is not secured, sanction could be subjective based on the type of course, country or the institute student has applied for

Documentation

Student

  • Photo ID proof
  • Proof of residence
  • Passport sized photograph
  • Proof of admission
  • Fee structure document
  • Salary slips of experienced candidates
  • Visa copy
  • Academic documents
  • Fully filled application form

Co-applicant

  • Photo ID proof
  • Proof of residence
  • Passport sized photograph
  • Income related documents
  • Fully filled application form

Collateral documents

  • Property documents
  • FD documents

Eligibility Img Alt

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Education Loan EMI

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FREQUENTLY ASKED QUESTIONS

Which countries are covered under education loan for abroad studies?

IDFC FIRST Bank’s student loan for studying abroad could be availed for studying in a number of countries – USA, UK, Canada, Australia, Germany, New Zealand, Singapore and others. You can reach IDFC FIRST Bank’s representative to know the full list of countries.

What are the costs covered under the student loan for studying abroad?

The student loan for studying abroad would include the following expenses towards the course:

College related expenses:

  • • Tuition and Fees payable to the institute
  • • Examination / library / laboratory fees
  • • Purchase of books / Equipment / uniforms
  • • Living expenses (including Hostel fees)

 

Additional expenses:

  • • Travel expenses
  • • Purchase of computers/laptops
  • • Overseas Insurance
  • • Cost of health insurance

What are the type of courses that are funded by IDFC FIRST Bank education loan for abroad studies?

IDFC FIRST Bank’s education loan for abroad studies covers plethora of courses across graduation and post-graduation degrees. The list includes technical and professional courses offered by the recognized universities and autonomous institutions. Apart from the full time courses, we fund education for executive, part time, vocational and diploma courses as well.

Do I get tax benefits with student loan for studying abroad?

Yes, you get income tax benefits under education loan for abroad studies as well.

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