राष्ट्रीय टोल फ्री नंबर1800 425 00 000

IB Education Loan (IBA)

IB Education Loan (IBA)

Eligibility Student borrower 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 or equivalent)

Identified beneficiaries of PM Cares for Children Scheme, developed by the Ministry of Women and Child Development are also eligible.

Executive Management Program/ Executive MBA

  • Part-time/Distance Education Mode to Working Professionals (Restricted to salaried class only)
  • Applicant should be at least Graduate or equivalent in any discipline.
  • He/ She should be a working professional with minimum 3 years of relevant work experience.
  • Student borrower should have secured admission from Institutes under Premier and Prime Plus categories.
Nationality 1.    Resident Indian

2.    NRI

3.    Persons of Indian Origin (PIO)

4.    Overseas Citizen of India (OCI)

5.    Student born Abroad

For NRI, Persons of Indian Origin, Overseas Citizen of India, Student born Abroad, loans can be considered only of studies in India.

Age There is no specific  restriction with regard to the Age of the Student for education loan
Eligible Courses For Studies in India (Full time Course):

  1. Courses as initiated under various Government subsidy schemes.
  2. Approved courses leading to graduate/ post graduate degree and PG Diplomas conducted by colleges/ universities recognized by UGC/ Government/ All India Council for Technical Education (AICTE)/ AIB Merchant Services (AIBMS)/ Indian Council of Medical Research (ICMR) etc.
  3. Courses like ICWA, CA, CFA etc.
  4. Courses conducted by Indian Institute of Management (IIMs), Indian Institute of Technology (IITs), Indian Institute of Science (IISC), Xavier School of Management (XLRI), National Institute of Technology (NITs), National Institute of Design (NIDs), National Institute of Fashion Technology (NIFTs) etc.
  5. Regular Degree/Diploma courses like Aeronautical, pilot training, shipping, etc., or any other discipline approved by Director General of Civil Aviation/Shipping or any other regulatory body as the case may be.
  6. Approved courses offered in India by reputed foreign Universities.

Diploma in Teacher Training course is not eligible under the scheme.


For Studies in India (Part time/Distance Education Mode):

  1. Executive Management Program
  2. Executive MBA


For Studies Abroad (Full time Course):

  1. For any accredited / recognized Courses.
  2. Courses as defined under various Government Subsidy Schemes.
  3. Graduation: For job oriented professional/ technical courses offered by reputed universities / institutions.
  4. Post-Graduation: MCA, MBA, MS, etc.
  5. Courses conducted by CIMA – London, CPA in USA etc.
  6. Degree/diploma courses like aeronautical, pilot training, shipping etc., provided these are recognized by competent regulatory bodies in India /abroad for the purpose of employment in India/abroad.
  1. Category of Colleges
Premier Special(Study in India):

  1. All IITs, IIMs, AIIMS (Institutions established prior to April 2017)
  2. IISc Bangalore
  3. Indian School of Business (ISB) (Hyderabad and Mohali campus)
  4. Indian Institute of Foreign Trade (IIFT) New Delhi
  5. PGIMER Chandigarh; SGPGI Lucknow; NIMHANS Bangalore; Christian Medical College Vellore; KGMU Lucknow; JIPMER Puducherry, Madras Medical College Chennai
  6. BITS Pilani
  7. XLRI Jamshedpur; Management Development Institute Gurugram
  8. National Institute of Technology, Tiruchirappalli
  9. National Institute of Technology Karnataka, Surathkal
  10. National Institute of Technology Rourkela
  11. National Institute of Technology Warangal
  12. National Institute of Technology, Calicut
  13. National Institute of Technology Durgapur
  14. National Institute of Technology, Silchar
  15. National Institute of Technology Kurukshetra

Premier (Study in India):

  1. NITs (Institutions established prior to April 2017)
  2. NIDs (For campuses situated in Ahmedabad, Gandhinagar, Bengaluru)
  3. Indian Statistical Institutes (ISI) (For courses offered at Kolkata, Delhi and Banglore campuses) 

Prime Plus (Study in India):

  1. IITs, IIMs, NITs, AIIMS, NIDs, ISI’s (Not included in premier).
  2. NIFTs (National Institute of Fashion Technology)
  3. Institutions of National Importance as published by GOI, Ministry of Education, Deptt of Higher Education, and as updated from time to time (other than those appearing in Premier category as above). The list can be accessed from the link: https://www.education.gov.in/en/institutions-national-importance.
  4. Institutes appearing in Top 200 as per latest NIRF rankings for Engineering, Top 75 as per latest NIRF rankings for Management and Top 50 as per latest NIRF rankings for Medical streams. (Not included in Premier Category)
  5. All Govt. run Medical colleges.
  6. Institutes appearing in Top 10 as per latest NIRF Ranking under Law, Architecture, Pharmacy and Dental streams.


Prime Plus (Studies Abroad):

Institutes ranked from 1 to 1000 colleges as per latest World Ranking issued by the Bank’s accepted websites.

Other Institutes (Study in India):

Recognized courses of Colleges / Universities / Institutes not covered under the above two categories.

Other Institutes (Studies Abroad):

Institutions ranked above 1000 as per latest World Ranking issued by the Bank’s accepted websites.


Expenses Considered
  1. Tuition fee
  2. Hostel fee (or) Lodging and boarding charges
  3. Travel expenses/passage money and living expenses
  4. Insurance premium
  5. Caution deposit/building fund/refundable deposit
  6. Purchase of books/ equipments/ instruments/ uniforms
  7. Purchase of computer at reasonable cost, if required for completion of the course
  8. Any other expense required to complete the course like academic & maintenance fee, study tours, project work, thesis, etc


The above mentioned list is tentative and the capping is at the discretion of the Bank based on the Lending Policy as on date.

Margin Study in India:

  1. Loan upto Rs.4 lakhs – 0%
  2. Loan above Rs.4 lakhs and upto Rs.7.50 lakhs – 5%
  3. Loan above Rs.7.50 lakhs – 15%
  4. Executive Management Program/Executive MBA – 25%

Studies Abroad:

  1. Loan upto Rs.4 lakhs – 0%
  2. Loan above Rs.4 lakhs and upto Rs.7.50 lakhs – 15%
  3. Loan above Rs.7.50 lakhs – 20%
Quantum of Finance For Studies in India and Abroad: Need based finance to meet expenses subject to margin requirement

Executive Management Program/Executive MBA: Maximum Loan Amount: Rs.25.00 lakhs

Repayment Period Education Loan (Study in India, Abroad): Upto 180 EMIs, commencing immediately after the moratorium period

Executive Management Programme/Executive MBA: Upto 120 EMIs commencing from the next month after first disbursement and No Holiday Period

Moratorium period: Course period plus Holiday Period of one year (maximum), in all cases

  • Simple interest is charged during the study period and moratorium period till commencement of repayment.
  • Servicing of interest during study period and the moratorium period till commencement of repayment is optional for students. Accrued interest will be added to the principal amount borrowed, while fixing EMI for repayment of the loan.
Interest Rate Click here
Processing Fee Click here
Subsidy Click here
Credit Guarantee Cover
  • Educational loans sanctioned up to a limit of Rs.7.50 lakh under IBA Scheme are eligible under Credit Guarantee Fund Scheme for Educational Loans scheme (CGFSEL).
  • Third party guarantee / Collateral is waived.
  • Parents / spouse to be co-obligant / joint borrowers
  • Both study in India and Abroad is eligible
  • Annual Guarantee fee will be 0.50% p.a. of the outstanding loan amount which would be absorbed by the Bank.
  • The guarantee cover would be available for 75% of the amount in default.
Collateral Security For Studies in Premier Institutes:

  • Loan amount upto Rs.30 lakhs for institutes other than ISBs & loan amount upto Rs.40 lakhs for ISB Hyderabad and Mohali: No collateral required
  • Loan amount above Rs.30 lakhs for institutes other than ISBs & Loan amount above Rs.40 lakhs for ISB Hyderabad and Mohali: 100% collateral security cover in the form of SARFAESI compliant land (bounded and demarcated), building, flat, Govt. securities, PSU Bonds, Gold Jewellery, Bank Deposits, NSCs, LIPs (Surrender Value)

For Studies in Prime Plus & Other Institutes:

  • 100% collateral security cover in the form of SARFAESI compliant land (bounded and demarcated), building, flat, Govt. securities, PSU Bonds, Gold Jewellery, Bank Deposits, NSCs, LIPs (Surrender Value)

Wherever the loan is eligible for Credit Guarantee Fund Scheme for Educational Loans (CGFSEL), no Collateral/Third Party Guarantee is required.

Note: Collateral cover is required to the extent of total limit sanctioned and the accrued interest during moratorium period.

Life Insurance Cover Life Insurance policy for the students availing Educational Loan is mandatory for the loan limit sanctioned, covering the entire period of loan i.e. Study Period, Holiday / Moratorium Period and Repayment Period.

The premium payable for the policy may be considered as an element, eligible for finance.

Documents required
  • Completed Application Form with 3 passport size photograph.
  • Assets and liabilities statement in the Bank’s format from applicant(s), Co-applicant(s) and guarantor(s).
  • PAN & Aadhar Mandatory
  • Proof of Identity such as PAN Card / Aadhar card /Voter’s ID/Passport/Driving License.
  • Proof of residence such as Recent Telephone Bill / Electricity Bill / Property Tax Receipt / Passport /Aadhar card/ Voter`s ID.
  • Academic Record: Copy of the Xth std / XIIth std mark list, for under graduates. Degree mark list / provisional certificate for post graduates.
  • Community certificate
  • Income certificate from competent authority notified by State Government
  • Admission letter / Bonafide student certificate from the College/University including Fee Structure.
  • Passport & VISA in case of Studies Abroad
  • Parent’s / Guardian’s Co-obligation / Guarantors details along with income proof
  • Details regarding source of funds for meeting the margin furnished along with documentary evidence.
  • Declaration / affidavit stating that no Educational Loan is availed from any other bank by the applicant and his parent
  • Copy of Sale Deed and other related documents as required in respect of immovable property offered as collateral security
  • Copy of Liquid Securities, if offered as collateral.

Apply for loan (Click Here)

( अंतिम संशोधन Jan 05, 2024 at 12:01:53 PM )