Federal Bank aims to give the opportunity of education to every student in India. With the various loans that the bank offers, it provides financial support to all students pursuing higher education. These education loans can be availed for courses in India and also abroad.
Federal Bank Education Loan Interest Rates
Schemes | Loan Amount | Interest Rates |
Special Vidya Loan |
|
10.05% |
Fed Scholars | Up to Rs.20 Lakhs | 10.05% |
Federal Career Solutions Loan |
|
10.05% |
Compare Federal Bank Education Loan Schemes for Students
Loan | Eligibility | Security and Margin | Tenure |
Special Vidya Loan |
|
|
Moratorium period+ 15 years will be the repayment period |
Fed Scholars |
|
|
Total Loan period = Moratorium Period (course period + maximum 1 year) + maximum 15 years. |
Federal Career Solutions Loan |
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Please visit Federal Bank official website for security and margin details |
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Federal Bank Education Loan EMI Calculator
Before you take a loan, it is important for you to have an idea about the EMI amount that you will have to pay every month. Federal Bank offers an online EMI calculator on its website through which you can take a more informed decision as to whether you should take a loan or not and also how much loan you should take.
Bankbazaar also offers Education Loan EMI calculator which you can determine the EMIs
How to Apply for Federal Bank Education Loan
- You can call the Federal Bank contact centre executives at 1800 - 425 - 1199 Or 1800 - 420 - 1199
- You can visit any Federal bank branch and apply for an education loan
- You can also apply for the loan via the Vidya Lakshmi Portal of Federal Bank
Federal Bank Education Loan Documents Required
- Any document of proof of identity
- Document of address proof (Ration card telephone/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)
- Basic Qualification and mark-list
- Offer letter/Admission letter
- Proof of Fees structure
FAQ's
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How much marks are required for education loan?
You will need at least 60% marks and above to be eligible for an education loan.
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What are the different methods to pay the EMIs on Federal Bank education loan?
You can pay the EMIs via
- Cheques
- Standing Instructions at your Federal bank branch/automated payment through ECS.
- Through the bank’s internet banking facility called FedNet
- Mobile Banking
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What documents are known as identity proof?
You can submit Passport, Voters ID card, Driving Licence or PAN Card as identity proof.
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If I have to go abroad and study, will I be eligible for an education loan from Federal Bank?
Yes, you can get up to Rs.20 as education loan from Federal Bank if you want to study abroad.
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For a Fed Scholars loan, do I need a security?
No security is needed for a Fed Scholars loan.