Indian Bank Education Loan

Indian Bank Indian Education Loan Scheme

Revised IBA Model Educational Loan Scheme (2015)

Indian Bank provides convenient educational loans for meritorious/deserving students to acquire knowledge and skill in the field of their interest. By playing beacon, new-generation's quest for success is ably supported, paving way for Generation Banking.

For studies in India and Abroad:


  • The applicant should be an Indian National.
  • Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC (10 plus 2 or equivalent).


  • Upto Rs.4.00 lakhs - Nil.
  • Above Rs.4.00 lakhs:
    • For Studies in India - 5%.
    • For Studies Abroad - 15%.

Interest Rates

  • Please see the Interest Rate link on home page


  • Up to 15 years


  • For the loans (limit upto Rs.7.50 lakh) covered Credit Guarantee Fund Scheme for Educational Loans (CGFSEL) – No third party guarantee / collateral to be obtained. Only the parents/guardian/spouse to be the joint/ co-borrowers.
  • For loans NOT covered under Credit Guarantee Scheme:
    • Upto Rs.4.00 lakhs – Co-obligation of parents.
    • Above Rs.4.00 lakhs and upto Rs.7.50 lakhs – Co-obligation of parents together with collateral in the form of a satisfactory third party guarantee.
    • Above Rs.7.50 lakhs – Co-obligation of parents together with tangible collateral security of suitable value along with the assignment of future income of the student for payment of installments.

Salient Features

  • To meet the cost of education covering fee payable to college/school/hostel, exam fees, purchase of books/equipments, travel expenses/passage money for studies abroad, purchase of computers essential for completion of the course etc.

Other Requirements/Details

  • Application has to be applied online at mandatory
  • Holiday Period : Course period plus 1 year
  • Course of study in India: Diploma/Graduation/Post graduation courses in various disciplines in reputed institutes accredited to the Department of Electronics.
  • Course of study abroad: Job-oriented professional/technical courses offered by reputed universities, MCA, MBA, MS etc. Courses conducted by CIMA - London, CPA in USA etc.
  • Click here for the checklist of documents required.
  • Interest Subsidy is available, subject to scheme guidelines.

CLICK HERE to apply for educational loan online through Vidyalakshmi Portal

IB Educational Loan Prime

IB Skill Loan Scheme

Education Loan Interest Subsidies