Federal Bank Students Personal loan

Federal Bank's student loans are here to ensure money doesn't stand in the way of your dreams. There are three different types of loans—Special Vidya Loan, Federal Career Solutions Loan, and Fed Scholars Loan—and there's something for everyone. Whether you're heading off to college in India or abroad, aiming for top-notch institutions, or need to upgrade your skills, these loans cover it all. They offer good amounts of money, eas y payback plans, and don't always ask for security. So, Federal Bank has your back if you're a student with big aspirations or someone looking to boost your career with more education. There is no need to worry about the cost; focus on your goals and let these loans help you get there.

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Table of Content

1. Federal Bank Personal Loan for Students Highlights

2. Federal Bank Personal Loan for Students Fees and Charges

3. Compare Federal Bank Students Loan from other Banks

4. Federal Bank Personal Loan for Students Documents Required

5. Federal Bank Personal Loan for Students Eligibility Criteria

5.1 Federal Career Solutions Loan Eligibility

5.2 Fed Scholars Loan Institutions

5.3 Special Vidya Loan Eligibility

Written By

Utsah Sharma

Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.

Reviewed By

Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Federal Bank Personal Loan for Students – Highlights

Features	Special Vidya Loan	Federal Career Solutions Loan	Fed Scholars
Who Are Eligible?	Indian nationals with admission through entrance/selection	Indian citizens with proof of course admission, aged 18-45, net worth minimum double the loan amount	Students admitted to premier institutes like IITs, IIMs, AIIMS, etc.
Maximum Loan Amount	Up to Rs. 20L abroad	Up to Rs. 75L in India, Up to Rs. 100L abroad	Up to Rs. 20L
Loan Tenure	Course period + 15 years	Course period + 6 months/job + max 120 months	Moratorium + up to 15 years
Margin	Up to Rs 4L: None, Above Rs 4L (India): 5%, Above Rs 4L (Abroad): 15%	Up to Rs 10L: None, Above Rs 10L: 5%
Upfront Fee	N/A	N/A	N/A
Collateral/Security	Up to Rs 4L: None, Rs 4L – Rs 7.5L: Third-party guarantee, Above Rs 7.5L: Collateral required	N/A	N/A

Federal Bank Personal Loan for Students – Fees and Charges

Loan Type	Margin	Quantum of Finance	Security Required	Repayment Period
Special Vidya Loan	Nil up to 4L; 5% for >4L (India), 15% for >4L (Abroad)	Based on repaying capacity	No security up to 4L	Course period + 1 year + 15 years
Federal Career Solutions Loan	Nil up to 10L; 5% for >10L	75% of estimate	Hypothecation of purchased assets/equipment; collateral for higher amounts	Course period + 6 months/job + max 120 months
Fed Scholars	Nil up to 10L; 5% for >10L			Moratorium period + max 15 years

Compare Federal Bank Students Loan from other Banks

Name of Bank	Interest Rate (p.a.)	Processing Fees
SBI	8.15% p.a. to 11.75% p.a.	Up to Rs.10,000 No charged required for loan amount below Rs.20 lakh Loan amount above Rs.20 lakh: Rs.10,000 (plus taxes)
Central Bank of India	8.10% p.a. to 10.60% p.a.	Nil for studies in India 1% of loan amount for studies abroad (Max: Rs. 15,000)
PNB	9.20% p.a. onwards	Nil for studies in India 1% of loan amount for studies abroad (Max: Rs. 10,000)
Canara Bank	9.25% p.a. onwards	0.50% of the loan amount up to Rs.10,000 (for collateral security coverage of 100% and above) 0.50% of the loan amount up to Rs. 20,000 (for collateral security coverage of less than 100%)
IDFC FIRST Bank	10% p.a. to 15% p.a.	Up to 1.5% of the loan amount
IDBI Bank	11.10% p.a.	Nil for studies in India 1% of the loan amount (Maximum: Rs.5,000) for studies abroad
Bank of Baroda	8.55% p.a. onwards	No processing for charges up to Rs.7.50 lakh 1% of loan amount up to Rs.10,000 for charges above Rs. 7.50 lakh
Bank of India	10.95% p.a. to 11.75% p.a.	No processing fee for studies in India
ICICI Bank	9.40% p.a. onwards	Up to 2% + GST
Axis Bank	13.70% p.a. to 15.20% p.a.	2.00% of the loan plus GST
HDFC Bank	9.50% p.a.	Nil for studies in India 1% for studies abroad

Federal Bank Personal Loan for Students – Documents Required

Here is a list of documents that you need while applying for your selected Federal bank student loan:

Federal Career Solutions and Fed Scholars

Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)
Offer letter / Admission letter
Basic Qualification & mark-list
Proof of Fee structure

Special Vidya Loan Eligibility

Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)
Photograph of applicant & guardian
Mark the list of qualifying examination
Proof of income of guardian
Details of admissible expenditure of course
Evidence for selection to the course of study

Federal Bank Personal Loan for Students – Eligibility Criteria

Federal Bank offers more than one form of loan to cater the needs of all kinds of students.

Federal Career Solutions Loan Eligibility

Applicant should be an Indian citizen
Proof of admission to the proposed course/ programme
Age- Minimum 18 years & maximum 45 years
Net worth -Minimum double the loan amount (combined with co-obligates)

Fed Scholars Loan Institutions

Available for students in premier institutes like:

Name	Location
All India Institute of Medical Sciences (AIIMS)	Delhi, Bhopal Campus, Raipur Campus
Armed Forces Medical College (AFMC)	Pune
Bangalore Medical College (BMC)	Bangalore
Birla Institute of Technology & Sciences(BITS) – Pilani BITS (Pilani)	Goa
Christian Medical College (CMC)	Ludhiana, Vellore
Department of Industrial & Management Engineering, IIT	Kanpur
Dept of Management Studies, IIT	Delhi
Indian Institute of Foreign Trade (IIFT)	Delhi, Kolkata Campus
Indian Institute of Management(IIM)	Ahmedabad, Kashipur, Ranchi, Rohtak, Udaipur, Bangalore, Indore, Kolkata, Kozhikode, Lucknow, Raipur
Indian Institute of Technology	Kanpur, Mandi, Patna, Roopnagar, Roorkee, Bhubaneshwar, Chennai, Delhi, Gandhinagar, Indore, Kharagpur, Guwahati, Mumbai, Varanasi
Indian School of Business(ISB)	Hyderabad, Mohali Campus
Jawaharlal Institute of Post-Graduate Medical Education and Research (JIPMER)	Pondicherry
Kasturba Medical College (KMC)	Manipal
King Edward Medical College (KEMC)	Mumbai
Marine Engineering & Research Institute	Kolkata
Madras Medical College (MMC)	Chenna
Post Graduate Institute of Medical Education & Research (PGIMER)	Chandigarh
S P Jain Institute of Management and Research (SPJIMR)	Mumbai
SJSOM, IIT	Mumbai
Xavier Institute of Management (XIM)	Bhubaneswar
Xavier Labour Relations Institute (XLRI)	Jamshedpur

Special Vidya Loan Eligibility

Applicant should be an Indian National
The applicant shall have secured admission to professional/technical courses through the Entrance test/selection process
Course & Institution should have the necessary approval/recognition
University / Govt should issue course certificate. Dept / a body formed by the enactment of Parliament.

Vocational Training and Skill development study courses will not be eligible.