IDFC Bank Limited is an Indian private sector bank that offers a variety of financial services to its customers. It was established in 2015, with its headquarters in Mumbai. Today, there are around 650+ IDFC bank branches. Indian students who want to further their studies but need financial support can apply for an IDFC education loan.
IDFC's goal is to give financial support to deserving students who want to further their studies. This IDFC bank education loan scheme is designed to ensure that exceptional students do not lose out on the opportunity to arrange finances for their studies.
Benefits of IDFC Education Loan
Up to 100% financing
With IDFC banks, you can expect up to 100% funding for your cost of education. Below is a list of expenses that will be covered under the IDFC education loan for abroad studies -Tuition Fees, Accommodation/Hostel expenses, Any deposits to be paid at the Institute, Cost of uniform, books, & other miscellaneous expenses, Travel & Transportation costs
Flexible Repayment Options
With an IDFC education loan, students do not need to start with the payment process immediately upon completion of their course. There is a moratorium period or a holiday period of about 6 months to 1 year, post which your EMI starts. You will however have the option of making your interest payments during your moratorium period.
No Prepayment Charges
A prepayment penalty is a cost charged by some lenders if you pay off all or a portion of your mortgage early. However, if you take out a loan with IDFC, you will not be charged any pre-payment penalties.
100% Expenses Covered
Tuition, housing expenses, travel, insurance, and other ancillary costs are all covered. IDFC pays for all the expenditures that you will have to bear as an international student.
Income Tax benefits under 80E
An education loan not only pays for your further education but also helps you save money on taxes. Section 80E of the Income Tax Act of India, 1961 allows for the deduction of student loan interest.
Simplified Co-Applicant Requirements
Once you apply for an education loan with a co-borrower, it's just like 2 individuals seeking a single loan and splitting the obligation. IDFC has simplified this when it comes to the Co-applicant's requirements.
Benefits Of Getting Your IDFC Abroad Education Loan Through UniCreds
Higher Chance Of Approval
By applying for your education loan through UniCreds, you are increasing your chances of approval. Generally, banks dismiss applications if they find any missing documents, property issues, or any other problem. With UniCreds, we will immediately reach out to Credenc officials and find the best solution.
Online Submission Of Documents
With UniCreds, you can submit all the required documents from home! There won’t be any need to visit the branch. Simply head over to our website and submit all the documents there. There won’t be a possibility of not submitting an essential document, as our system is designed to ensure all essential documents are submitted. You also get stepwise updates via notifications.
No Cost To You
All our education loan services are completely free of cost.
Quicker Sanctions
Our strategic partnerships ensure low turnaround time. Expect to have your education loan processed and sanctioned within 5 days.
