Indian Bank


  1. All applicants are required to be Indian citizens.
  2. Students who apply for an Indian Bank education loan, should have secured admission to professional or technical courses in India or abroad through an Entrance test or a merit based selection process.
  1. Residence Proof
  2. Ration Card/Voter’s ID/Passport/Electricity bill/Telephone bill Academic record
  3. Xth/XIIth mark lists for UG students.
  4. Degree mark list/provisional certificate for PG students                                                                    
  5. Age Proof
  6. SSLC/TC/Any mark list
  7. Community
  8. Community Certificate
  9. Family Income Proof
  10. Salary certificate/Pension certificate/Auditor's certificate for businessmen/IT Returns
  11. Admission details
  12. Admission letter
  13. Bonifide student certificate from the College / University
  14. Fee details
  15. Letter or Certificate from the College/University
  16. Passport and VISA-Not required
  17. Guarantee/Co-obligation details
  18. Parent's or a Guardian's Co-obligation is required
  19. Collateral requirement
  20. LIC policy/Share certificates/Units of UTI/Valuation certificate and legal opinion from the bank in case of land or buildings
  21. Margin Requirement (Above Rs.4.00 lakhs)
  22. 5%Documentary evidence for source of funds to meet the margin amount
  23. Declaration or affidavit declaring that no Educational Loan is availed from any other bank by the applicant and his parent required documents
  24. A & L of the student/parent/guardian/guarantor
  25. Details of securities and collateral

1) Students applying for diploma, undergraduate or postgraduate courses regardless of the discipline are eligible to avail an Indian Bank education loan.
2) Education loans can also be availed for computer certificate courses from institutions accredited to The Department of Electronics.

Indian Bank sanctions loan amounts up to Rs 15 lakhs for admissions in India and up to Rs 25 lakhs for students applying for institutions abroad.

Indian Bank education loan can be initiated either after the completion of the course or a year after the applicant has got a job. Loan amounts up to Rs 7.50 lakhs have to be repaid within a period of 10 years and loans availed above Rs 7.50 lakhs can be repaid within 15 years.

Borrowers are not required to cover any amount as loan margin for education loans taken up to Rs 4 lakhs. For any loan above Rs 4 lakhs, Indian Bank requires borrowers to bring in a loan margin amount of up to 5% for studies in India and up to 15% for overseas education.

1) For loans amounts below Rs 4 lakhs, the bank does not require applicants to submit any form of security and the parents’ co-obligation would suffice.

2) For loan amounts ranging between Rs 4 lakhs and Rs 7.50 lakhs, the co-obligation of the parents along with collateral in the form of third party guarantee is required.

3) Borrowers taking education loans above an amount of Rs 7.50 lakhs require the co-obligation of parents or guardian along with collateral security of suitable value, assuring the future income of the student for repayment of the loan.

Indian Bank also provides life insurance coverage to student borrowers under the 'New IB Jeevan Vidya' scheme.

The Central Subsidy scheme from the HRD Ministry provides a full interest subsidy for students availing Indian Bank education loans from the weaker sections of the society with a maximum parental annual family income of Rs. 4.50 lakhs. The subsidy is valid for the entire course period plus one year after course completion or six months after getting a job, whichever is earlier. The Indian Bank education loan subsidy scheme is applicable for undergraduate or postgraduate studies in technical and professional courses in India and can be availed only once. The interest rates that will be charged on an Indian Bank educational loan will be as per the BPLR or the base rate. The subsidy scheme can be used by students applying for courses in UGC/AICTE recognized institutions, IIMs and other Central or State Government institutions.

Eligible Courses

Non-Eligible Courses

UG and PG courses in -

1. Engineering

2. Medical

3. Para Medical

4. Agriculture

5. Veterinary

6. Law

7. Dental

8. Management

9. Computer Science

PG Diploma Courses approved by


Courses pursued abroad or without completing Class XII.

Non-Professional and Non-Technical UG and PG courses in

· Arts

· Science

· Commerce

· Sociology

· Music

Diploma Courses

Teacher Training Courses

Skill Development

Vocational Training courses


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