IDFC Students Personal Loan

Embark on a journey towards educational aspirations with IDFC First Bank’s Lakh Personal Loan for students. IDFC First Bank student personal loan interest rates and unique features offer a blend of competitiveness and stand out as a premier choice for student financing. Discover why IDFC First Bank student instant loan is considered among the best in the market, tailored to provide seamless financial support for academic pursuits. Uncover exclusive benefits and opportunities designed to make your educational dreams a reality.

IDFC First Bank Lakh Personal Loan for Students – Highlights

Here is a quick snapshot of IDFC First Bank personal loans for students. 

Compare Students Loan from Other Banks

Take a look at the comparison between IDFC First Bank student loans with other leading banks and NBFCs.

IDFC First Bank Lakh Personal Loan for Students – Fees and Charges

Following are the documents required for IDFC First Bank personal loans for students. 

• Processing Fee: A fee equivalent to a maximum of 1.5% of the loan amount is applicable.
• Goods and Services Tax (GST): A standard 18% GST applies to all loan-related services.
• Penal Interest: A 2% p.m. of the unpaid EMI or Rs. 300, whichever is more.
• Other Charges: In addition to the primary charges associated with a loan, several ancillary fees are applicable. These include duplicate no objection certificate issuance charges at Rs. 500, physical repayment schedule issuance incurring a cost of Rs. 500, and a similar fee for obtaining a physical statement of account. Document retrieval attracts a charge of Rs. 500 per retrieval, while acquiring a list of IDFC First Bank student personal loan documents also involves a fee of Rs. 500. Switching charges, applicable when transitioning from a floating to a fixed rate, amount to 0.1% of the sanctioned loan amount or a maximum of Rs. 10,000, exclusive of applicable taxes.

IDFC First Bank Lakh Personal Loan for Students – Documents Required

Here’s a quick rundown of the documents that students will need to apply for an IDFC First Bank education personal loan:

IDFC First Bank Student Personal Details documents:

• Provide a valid photo ID proof.
• Submit proof of residence.
• Include a passport-sized photograph.
• Furnish proof of admission to your educational institution.
• Present the fee structure document.
• If applicable, submit salary slips (for experienced candidates).
• Provide a copy of your visa.
• Include academic documents.

Co-applicant Documents:

• Submit a valid photo ID proof.
• Provide proof of residence.
• Include a passport-sized photograph.
• Furnish income-related documents.

Collateral Documents:

• Submit necessary property documents.
• Include FD (Fixed Deposit) documents.

IDFC First Bank Student Personal Loan Eligibility Criteria

• First, to apply for an IDFC First Bank student personal loan online, you must be an Indian citizen.
• For IDFC First Bank student personal loan apply, the minimum age requirement is 18 years or above.
• Admission to the desired institution/course is necessary.
• Pre-admission sanction is available if secured admission has not yet been obtained.