• IDA member, Son/Daughter of IDA member.
• Original of IDA membership certificate and photocopy to be submitted. Original will be returned after verification.
• Student should be an Indian National having secured admission to eligible courses through entrance test / selection process. 

1. Studies in India: (Indicative list)
• School Education plus 2 stages
• Graduation courses : BA, B.Com., B.Sc., etc.
• Post Graduation courses : Masters & Phd.
• Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
• Computer certificate courses of reputed institutes accredited by Dept. of Electronics or Institutesaffiliated to university.
• Courses like ICWA, CA, CFA, etc.
• Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc.
• Courses offered in India by reputed foreign universities.
• Evening courses of approved institutes.
• Other courses leading to diploma/ degree etc. conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc.
• Courses offered by National Institutes and other reputed private institutions.
• Vocational Training and skill development study courses are not included in the Model Scheme. However, such requests may be considered under normal credit lending programmes as personal loans.
• Regular Degree/Diploma courses like Aeronautical, pilot training, shipping, etc. approved by Director General of Civil Aviation/Shipping, if the course is pursued in India. In case the course is pursued abroad, the competent local aviation/shipping authority should recognize the Institute.
2. Studies abroad :-
• Graduation : For job oriented professional/ technical courses offered by reputed universities.
• Post graduation: MCA, MBA, MS, etc.
• Courses conducted by CIMA- London, CPA in USA etc.

Expenses considered for loan :

• Fee payable to college/ school/ hostel.
• Examination/ Library/ Laboratory fee.
• Purchase of books/ equipments/ instruments/ uniforms.
• Caution deposit/building fund / refundable deposit supported by Institution bills/receipts, subject to the condition that the amount does not exceed10% of the total tuition fees for the entire course.
• Travel expenses/ passage money for studies abroad.
• Purchase of computers - essential for completion of the course.
• Life Insurance premium for student borrower
• Any other expense required to complete the course - like study tours, project work, thesis, etc.

• Scholarship/ assistantship to be included in margin.
• Margin may be brought in on pro rata, year-to-year basis at time of disbursement.

• Simple interest will be charged during the Repayment holiday /Moratorium period.
• Penal interest will be charged, as applicable, over the sanctioned rate @ 2% for the overdue amount and overdue period.

• The loan will be disbursed in stages as per the requirement/ demand directly to the Institutions/ Vendors of books/ equipments/ instruments to the extent possible.
• In appropriate cases disbursement will be made to borrowers subject to submission of satisfactory evidence. Original receipts to be submitted to Bank.
• Bank may consider top up loans/second loans to students pursuing further studies.

Repayment holiday/Moratorium

• The loan to be repaid in 5-7 years after moratorium. If the student is not able to complete the course within the scheduled time for any genuine reason, extension of time for completion of course can be permitted for a maximum period of two years.
• The accrued interest during the repayment holiday period to be added to the principal and repayment in Equated Monthly Instalments (EMI) will be fixed.
• 1% interest concession will be provided for loanees if the interest is serviced during the study period when repayment holiday is specified for interest/ repayment under the scheme.

• Both the student and the parent (IDA member) should execute the loan documents.
• The security can be in the form of land/building/Govt. Securities/Public Sector Bonds/ Units of UTI, NSC, KVP, Life policy, gold, shares/mutual fund units/ debentures, bank deposit in the name of student/parent/guardian or any other third party with suitable margin.
• Wherever the land/building is already mortgaged with the Bank, the unencumbered portion can be taken as security on second charge basis provided it covers the required loan amount.
• In case the loan is given for purchase of computer, the computer has to be hypothecated to the Bank.
• In case of receipt of application for more than one loan for student borrower from a family, the 'family' as a unit has to be taken into account for considering the loan and security taken in relation to the total quantum of finance disbursed, subject to margin and repaying capacity of the parent/student.