Federal Bank Education Loan

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

Compare Federal Bank Education Loan Schemes for Students

Eligibility Criteria

Special Vidya Loan

• You should be an Indian national.
• You need secured admission to a professional institution.
• Your course/institution should be recognised.
• Course certificate needs to be issued by the University.

Fed Scholars

• You should be an Indian national.
• You should have secured admission the institution.
• Management Quota seats will not be considered.

Federal Career Solutions Loan

• You should be an Indian citizen.
• You need a proof of admission to the institution.
• You should be minimum 18 years old and a maximum of 45 years old.
• Your net worth should be at least double the loan amount.

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 18004251199 or 18004201199.
• 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

1. How much marks are required for education loan?

   You will need at least 60% marks and above to be eligible for an education loan.

2. 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
3. What documents are known as identity proof?

   You can submit Passport, Voters ID card, Driving Licence or PAN Card as identity proof.

4. 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.

5. For a Fed Scholars loan, do I need a security?

   No security is needed for a Fed Scholars loan.