National Helpline No1800 425 00 000

IB Educational Loan

IB Educational Loan

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.

CLICK HERE to apply for educational loan online through Vidyalakshmi Portal

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.

Apply for loan (Click Here)

( Last modified on May 18, 2022 at 02:05:54 AM )