IDFC Education Loan College List & Application 2024

Securing a quality education often requires significant financial support. With the rising costs of higher education, IDFC First Bank offers various education loans tailored to meet the needs of students both in India and abroad.

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IDFC Bank Premier Institute List

The IDFC Bank premier institute list is a curated selection of premier institutions eligible for education loans from IDFC First Bank. This list includes top-tier colleges in India and globally recognised universities.

Top Indian Colleges Covered

IDFC education loan college list is available for students aiming to study at some of the best institutions in India.

Global Universities Covered

For students planning to study abroad, IDFC First Bank’s education loans cover a wide range of prestigious universities across different countries in its IDFC Bank premier institute list.

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IDFC Education Loan College List PDF Download

The IDFC FIRST Bank Education Loan Approved College List PDF includes recognized institutions across India that are eligible for education loans under IDFC’s student financing schemes. It helps students and parents verify whether their target college qualifies for loan processing.

Download the IDFC Education Loan College List PDF

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IDFC Education Loan Approved College Categories for Abroad

IDFC First Bank offers education loans to students enrolled in globally recognized institutions. These universities are categorised into four tiers (Platinum Plus, Platinum, Titanium, and Gold) which determine the terms of loans for students. 

Let's have a look: 

Loan Categories for U.S. Universities

IDFC First Bank divides U.S. universities into categories to determine loan amounts and interest rates for students pursuing higher education.

Loan Categories for Universities in Other Countries

IDFC First Bank offers the following categories for students enrolling in universities outside the U.S.: Canada, the UK, Australia, Ireland, France, New Zealand, Germany, and Sweden.

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IDFC Education Loan Approved Foreign Universities List

IDFC First Bank offers up to 100% financing for higher education, with customized solutions to meet your needs. You can also get funding for travel, a laptop, books, uniforms, insurance, and other college expenses. Your chosen university must be in the USA, Canada, UK, Australia, Ireland, France, New Zealand, Germany, or Sweden to qualify. Below is a list of top universities approved by IDFC First Bank.

Platinum Plus Category:

Platinum Category:

Titanium Category:

Gold Category:

Also, consider HDFC Bank for funding your higher education. Make sure to review their list of approved colleges in this comprehensive guide: HDFC Bank Education Loan College List.

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How to Check IDFC Education Loan College List? 

You can check whether your chosen university is approved for an education loan by referring to the IDFC First Bank university list PDF. Follow the steps below:

Visit the Official Website:

Go to the IDFC First Bank website. On the education loan section, look for the university list PDF. Click the link to download the document and check if your university is included.

Contact Customer Support:

If you can't find the list online, you can contact IDFC First Bank's customer support. They will help you verify if your university is eligible for a loan.

Visit a Nearby Branch:

Alternatively, visit the nearest IDFC First Bank branch. Bank representatives will assist you with information related to your selected university and loan eligibility.

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The IDFC education loan college list includes top institutions in India and abroad, ensuring you can pursue your academic dreams with the financial backing you need.

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Also Read: Union Bank Education Loan: Interest Rate, Features, and Benefits

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Why Propelld?

The Propelld education loan has the following main benefits.

Don't let finances hold you back—fuel your dream with Propelld. Apply now and step into your future!

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FAQs About IDFC Education Loan College List 

Understanding all aspects of your loan options is crucial when financing your education.

IDFC First Bank offers a range of education loans tailored to different needs, with specific lists of eligible colleges and institutions. Here are the top 15 frequently asked questions about the IDFC education loan college list and the IDFC bank premier institute list to help you make an informed decision.

 What is the IDFC education loan college list?

The IDFC education loan college list comprises top-tier institutions eligible for IDFC First Bank’s education loans in India and abroad. This list includes premier engineering colleges, medical schools, management institutes, and private universities recognised for their academic excellence.

 How do I determine if my college is on the IDFC education loan college list?

You can check if your college is on the IDFC education loan college list by visiting IDFC First Bank’s official website or contacting customer service. The list is often updated, so verifying your institution's status is essential before applying.

 Does the IDFC bank premier institute list offer any unique benefits?

Yes, students attending institutions on the IDFC bank premier institute list often receive favourable loan terms. These benefits may include lower interest rates, higher loan amounts, and faster loan processing times, making it easier to fund your education at these prestigious institutions.

 What types of education loans does IDFC First Bank offer?

IDFC First Bank offers several types of education loans, including:

1. Secured Education Loans: Require collateral and offer lower interest rates.
2. Unsecured Education Loans Do not require collateral but have slightly higher interest rates.
3. Loans for Undergraduate/Postgraduate Studies: Tailored for students pursuing UG/PG courses in India or abroad.
4. Vocational/Skill Development Loans: Designed for short-term courses and skill enhancement programs.

 What are the interest rates for IDFC education loans?

Interest rates for IDFC education loans vary depending on whether the loan is secured or unsecured. Typically, secured loans start at 8.5%, while unsecured loans range from 10% to 12%. The rates may also depend on the applicant's credit score, the course, and the institution.

 Are international universities covered under the IDFC education loan college list?

Yes, IDFC First Bank offers education loans for studying at top international universities. The list includes prestigious institutions in the United States, United Kingdom, Canada, Australia, and other countries, ensuring you can pursue your academic dreams globally.

What maximum loan amount is available for colleges on the IDFC education loan college list?

IDFC First Bank offers secured loans up to ₹ one crore, while unsecured loans can go up to ₹30 lakh. The loan amount may vary based on the course of study and the institution.

 Is collateral required for all IDFC education loans?

Collateral is required for secured education loans, which typically come with lower interest rates. However, IDFC First Bank also offers unsecured loans for students without collateral, particularly those attending institutions on the IDFC Bank premier institute list.

 What is the repayment period for IDFC education loans?

The repayment period for IDFC education loans can extend to 15 years, depending on the loan amount and type. A moratorium period, which includes the course duration plus an additional year, is also provided, allowing you to start repaying only after you have completed your studies.

 How does the moratorium period work?

The moratorium period is the time during which you are not required to make any loan repayments. This period usually covers the duration of your course plus an extra year. You can focus on your studies without worrying about immediate loan repayments during this time.

 Can I make prepayments on my IDFC education loan?

IDFC First Bank allows prepayments on education loans, often with minimal or no penalties. Prepaying your loan can help you reduce the overall interest burden and pay off your debt faster.

 What documents are needed to apply for an IDFC education loan?

To apply for an IDFC education loan, you will typically need:

1. Proof of admission to the course or institution.
2. Identity proof (Aadhar, PAN, etc.).
3. Residence proof (utility bills, etc.).
4. Academic records (mark sheets, certificates).
5. Financial documents for collateral (if applying for a secured loan).

 Are there specific loans for different courses or levels of education?

IDFC First Bank offers tailored loans for different educational levels, including undergraduate, postgraduate, and vocational courses. Each type of loan is designed to meet the specific needs of the course and the student's financial situation.

Can I apply for an IDFC education loan online?

Absolutely! IDFC First Bank has streamlined the loan application process, allowing you to apply online. The online portal is user-friendly and guides you through each step, making it easier to submit your documents and track your application status.

 How does IDFC First Bank’s education loan compare with other banks?

IDFC First Bank is known for its competitive interest rates, flexible repayment options, and comprehensive coverage of top institutions. Compared to other banks, IDFC First Bank often offers more favourable terms for students attending premier institutes, making it a preferred choice for many.

Can I apply for an IDFC education loan without a co-applicant?

IDFC First Bank typically requires a co-applicant (usually a parent or guardian) for education loans. However, in some cases, loans may be approved without a co-applicant if the student has a strong financial background or collateral.

Are there any processing fees for IDFC education loans?

Yes, IDFC First Bank charges a nominal processing fee for education loans, which is usually a percentage of the loan amount. The fee varies depending on the loan amount and type.

Can I apply for an IDFC education loan for online courses?

IDFC First Bank generally provides loans for accredited in-person and online degree programs. However, it's essential to verify if your online course or institution is listed under their approved colleges.

Can I transfer my IDFC education loan to another bank?

Yes, IDFC First Bank allows the transfer of education loans from other banks. If you're unsatisfied with the terms of your current loan, you can explore transferring to IDFC First Bank to take advantage of better rates and terms.

What are the tax benefits available on IDFC education loans?

Under Section 80E of the Income Tax Act, students or co-applicants can claim a deduction on the interest paid on education loans. The deduction is available for up to 8 years or until the loan is paid off, whichever is earlier.

Can I avail of an IDFC education loan for studying abroad if I have an education loan from another bank?

Yes, IDFC First Bank allows students to apply for loans even if they already have a loan from another bank, provided they meet the eligibility criteria.

Does IDFC First Bank offer any educational loan schemes for students with disabilities?

Yes, IDFC First Bank offers specialized loans for students with disabilities, ensuring they have access to education with flexible repayment options and lower interest rates.