IDFC First Bank Education Loan for Studying Abroad

An IDFC First Bank education loan helps Indian students finance their higher education abroad by offering up to ₹1.5 crore with secured and unsecured loan options. Via WeMakeScholars, students can avail a loan of up to ₹2 crore. Interest rates start from 9.5% p.a., while the final rate depends on the applicant's profile, loan category, course, university, and collateral.

IDFC education loan covers tuition fees, living expenses, travel, books, laptop, and other eligible costs. The application process for an education loan is mostly online, and IDFC also offers a pre-admission sanction facility. This can help students show proof of funds even before they receive their final offer letter.

Dreaming of studying abroad but worried about managing your finances? IDFC education loan simplifies the process with its flexible and student-friendly education loans tailored for international studies. Offering education loan interest rates ranging from 9.5% to 14%, these loans are designed to support students aiming for top universities with competitive rates, quick approvals, and convenient repayment options.

The key IDFC education loan details are given in the table below:

Note: The interest rates and amounts mentioned are indicative and subject to change. Total cost also depends on individual preferences and choices.

Pro tip: If you have already paid the university fee, that amount can be reimbursed to your account by talking to a financial officer from WeMakeScholars to discuss it with the bank.

IDFC First Bank provides the following types of study loans. Let's understand what each type means.

• Secured loans: Secured education loans require you to pledge collateral against the loan. Collateral can be immovable property like houses, plots, and agricultural land, or liquid security such as fixed deposits. IDFC First Bank does not specify an upper limit for secured loans and is tied to the value of the pledged collateral. Generally, the full cost of education (COE) can be covered if the collateral's value is at least 110% of the COE.

• Unsecured loans: Unsecured education loans do not require you to pledge any collateral for the education loan. The financial co-applicant's income and the applicant's academic profile are thoroughly evaluated before giving out an unsecured loan. Collateral-free funding of up to ₹1.5 crore is available for students admitted to select universities, subject to the bank's eligibility criteria.

IDFC First Bank's unsecured education loans are structured into tiers, which determine the maximum loan amount based on the destination country and course. As of the latest IDFC update (30 Jul 2026), the tiers and limits are:

Note: The loan amounts mentioned are indicative and subject to change. Total cost also depends on individual preferences and choices.

Country Classification:

• Prime countries: USA, UK, Canada, Australia

• Non-Prime countries: Germany, France, Ireland, New Zealand, Spain, Netherlands, Switzerland, Singapore and Sweden.

• Countries not listed above remain on IDFC’s earlier (pre-30 Jul 2026) policy limits.

Income-Based Category

If your co-applicant has a good income, you may also be eligible for an income-based loan product. Here are the key conditions:

• The co-applicant should be salaried; self-employed is not accepted.

• The minimum age of a co-applicant should be 28, with a minimum of 5 years of work experience and a minimum of 3 months' experience in current employment.

• The co-applicant's minimum CIBIL score for an education loan should be 720.

• The minimum co-applicant income should be ₹80,000 per month.

Note: The interest rates mentioned are indicative and subject to change. Total cost also depends on individual preferences and choices.

The final IDFC education loan interest rate depends on factors such as:

• Collateral offered 

• University and course category

• Existing financial obligations

• Co-applicant’s CIBIL score and income

• Loan amount requested

• Loan structure and credit-assessment factors

Interest Rates According to Loan Category

Note: The loan amounts mentioned are indicative and subject to change. Total cost also depends on individual preferences and choices

Tip: Students should check the IDFC Education loan interest rate mentioned in their sanction letter rather than assuming that the starting rate will apply to their loan.

To qualify for an IDFC First Bank education loan for studying abroad, you need to meet certain eligibility criteria.

Insider tip: Already chosen your course and university but waiting for the admission letter? In some cases, IDFC First Bank may sanction your education loan even before you receive it. However, this depends on your course, university, study destination, and overall profile.

Eligible Courses 

IDFC First Bank offers education loans for a range of courses, giving students the flexibility to choose a programme that matches their career goals. The courses eligible include:

• Undergraduate and postgraduate degrees

• Masters programs

• STEM courses (Science, Technology, Engineering, Mathematics)

• Management courses

• Executive, part-time, vocational, and diploma courses

Minimum Co-applicant Salary

• USA Platinum Plus/ Platinum: Income is not mandatory but should at least meet the average bank balance

• USA Titanium/Gold and Non-USA: Minimum ₹3 lakh p.a.

Not Acceptable Co-Applicant profiles:

• Antique Dealers

• Astrologers / Purohit

• Builders/ Contractors

• Call Centre Executives

• Collection/ Recovery Agents

• Contractual Employees

• DSA’s / Verification Agencies

• Massage Parlours/ Beauty Parlours

• Motor Training Schools

• Arms Dealers

• Gambling Business

This section elaborates on the essential documents that are necessary for the education loan process at IDFC First Bank.

If you are taking a secured loan, then the documents you will need to submit are: 

Still unsure about the documents required for your education loan? Refer to our education loan documents guide for complete information and to make the loan process faster and smoother.

Directly from the branch:

1. On the bank’s official website, there is an education loan panel.

2. You will find an option called “FIRST UNI”. This is a hyperlink to the form that needs to be filled out for an education loan.

3. Fill out the loan application form.

4. A bank representative will reach out to you and guide you through the rest of the process.

But why go through all the inconvenience and keep waiting for the bank to carry out the process when WeMakeScholars does everything for you- that too, free of cost?

Here is how you can apply through WeMakeScholars and have a smooth loan process. 

1. Complete the common application form for student loans.

2. To verify your eligibility, a financial officer will get in touch with you. Give information that is requested of you.

3. Our financial officer will provide you with the necessary guidance based on your eligibility and lending policies.

4. According to the document checklist that your financial officer has provided, submit your papers to the bank or upload them to WeMakeScholars' secure link-uploading portal.

5. The moment your documents are submitted, they will be logged. You can check the status of your loan application and expect processing to start immediately.

6. Following the sanction, you can obtain your letter of sanction and sign the loan agreement.

Note: Students should check the sanction letter to know the exact moratorium period and how interest will be charged.

The time given to repay the loan is 15 years, including the moratorium period. The details of loan repayment, EMI, and other charges include:

Note: The IDFC Bank education loan interest rates mentioned are indicative and subject to change. Total cost also depends on individual preferences and choices. 

Use the EMI calculator to estimate the monthly repayment of your education loan once the rate and tenure are confirmed by the lender. 

Before taking an education loan, it's important to know the bank's pros and cons. You'll be associated with the bank throughout your education and repayment journey, so understanding the key benefits and limitations can help you avoid financial stress.

An IDFC education application may not be approved if the applicant does not meet the bank's eligibility or credit requirements.

Possible reasons can include:

• Weak or insufficient credit profile

• Low co-applicant income or repayment capacity

• High existing financial obligations

• Course or institution not meeting lending criteria

• Insufficient collateral value for a secured loan

• Issues with student admissions or course details

Hence, the education loan approval depends on basic eligibility criteria and the lender's final credit assessment.

• Negotiation on your behalf: The WeMakeScholars team can negotiate on your behalf with the bank for the best ROI, and we also see that you are charged a nominal fee for the complete process.

• Best customer service: You can avail of complete customer support from the WeMakeScholars team for any doubts you have, anytime.

• The cashback offered: You will be rewarded with cashback on multiple disbursements, up to a maximum of ₹3000, as you are supporting the Digital India campaign by applying for your study abroad education loan via WeMakeScholars.

• You may access your loan profile using your credentials to find out the status of your loan application.

• A transparent and hassle-free process so that you don’t have to stay confused about what’s going on with your loan.

If you are looking for a fast digital loan process with competitive rates on both secured and unsecured loans up to  ₹1.5 crore and no prepayment penalties, then IDFC First Bank is a strong option worth considering. If you are headed to the USA, UK, Canada, Australia, Germany, or Ireland, then IDFC First Bank ensures that you focus on achieving your academic goals without financial stress standing in the way. 

Before you apply, check which loan tier your university and course fall under, decide between secured and unsecured, and get your documents ready because that's what speeds up the sanction process.

Still not sure where you stand? WeMakeScholars can help you compare IDFC against every lender you're eligible for and help you secure better terms at no cost to you.