Key facts: ICICI Bank vs IDFC FIRST Bank education loan
- Starting rate: ICICI Bank 8.50%, IDFC FIRST Bank 9.50%. This is the lowest rate each loan provider advertises for an education loan, not the rate everyone is offered.
- Gap between starting rates: 1 percentage points between the lowest and the highest.
- Top of the published range: ICICI Bank up to 10.25%, IDFC FIRST Bank up to 14%.
- Maximum tenure: ICICI Bank 15 years, IDFC FIRST Bank 15 years.
- Type of loan provider: ICICI Bank is a private bank; IDFC FIRST Bank is a private bank. Banks and NBFCs price floating rates differently.
- Official websites: icici.bank.in, idfcfirstbank.com.
- Pages checked: 2 official pages opened for this loan type.
- Loan types with a published rate: ICICI Bank 6, IDFC FIRST Bank 6 (out of 8 we track).
- Last checked: 12 October 2026, on each loan provider's own website.
Who each loan provider suits on an education loan
Built only from figures the loan providers publish. It says where each one is ahead on paper, not who will approve you.
Pick ICICI Bank if you want
- The lower published starting rate (8.50%)
Pick IDFC FIRST Bank if you want
- The most complete published terms for this loan (5 of 5 details)
ICICI Bank vs IDFC FIRST Bank education loan: rate, fees and tenure
Starting education loan rates as published: ICICI Bank from 8.50% and IDFC FIRST Bank from 9.50%. ICICI Bank is lower at the starting rate, but the top of each range and your own credit profile decide what you are offered.
| Detail | ICICI Bank | IDFC FIRST Bank |
|---|---|---|
| Published rate | Starts at 8.50% p.a. up to 10.25% p.a. (indicative) | Secured 9.5% to 11.25% p.a.; unsecured 11.75% to 14% p.a. |
| Rate basis | varies by secured/unsecured, course type and institute category | Floating, repo-linked |
| Loan amount | Up to Rs 3 crore | ₹1 lakh to ₹2 crore (collateral-free up to ₹1.5 crore) |
| Maximum tenure | Up to 15 years | Up to 15 years |
| Processing fee | Not published | Nil up to ₹7.5 lakh; above that up to 1.5% of loan amount |
| Prepayment / foreclosure | No foreclosure charges | Nil; no charge on foreclosure or part-payment |
| Eligibility (as published) | Indian national; age 16-65 at maturity; 10+2 or diploma; confirmed admission to listed institute; good academic record | Indian nationals incl. NRIs; age 18+; admission to authorised institution; co-applicant required |
| Other terms published |
|
|
| Official source | icici.bank.in/personal-banking/loans/education-loan | idfcfirst.bank.in/personal-banking/loans/education-loan |
Read the full guide: Education loan
What each loan provider publishes about its education loan
ICICI Bank
Private bank · ICICI Bank Limited
- How the rate is set: varies by secured/unsecured, course type and institute category
- Eligibility as published: Indian national; age 16-65 at maturity; 10+2 or diploma; confirmed admission to listed institute; good academic record
- Zero margin money for 1,500+ selected institutes
- No foreclosure charges
- Flexible repayment options
- Pre-admission sanction letter
IDFC FIRST Bank
Private bank · IDFC FIRST Bank Limited
- How the rate is set: Floating, repo-linked
- Eligibility as published: Indian nationals incl. NRIs; age 18+; admission to authorised institution; co-applicant required
- Collateral-free up to ₹1.5 crore
- Up to 100% financing of education expenses
- Section 80E interest deduction (old regime)
- Flexible repayment options
Before you apply for an education loan
- Government schemes: Interest subsidy and guarantee schemes, such as PM-Vidyalaxmi, can lower the cost for eligible students. Ask the loan provider whether you qualify.
- What is covered: Tuition, hostel, exam fees, books and equipment are normally covered. Confirm the list before you apply.
- Co-applicant: A parent or guardian usually applies with the student. Their income and credit score are assessed along with the admission.
- Moratorium: Repayment normally starts after the course ends plus a grace period of up to a year. Interest keeps building up during the break unless you pay it.
RBI requires every loan provider to hand you a Key Fact Statement before you sign. It shows the rate, every fee, the APR and the total you will repay.
Terms used on this page
Plain meanings of the terms this comparison uses.
Starting rate: The lowest rate a loan provider advertises for a product. Most borrowers are offered a higher rate, because the final rate depends on credit score, income, employer and loan amount.
APR: Annual percentage rate. It adds the processing fee and other charges to the interest rate, so it shows the yearly cost of the loan better than the interest rate alone.
Key Fact Statement: A short summary the loan provider gives you before you sign. It lists the interest rate, every fee, the APR and the total amount you will repay. RBI requires it for retail loans.
Floating rate and repo rate: A floating rate moves with a benchmark, and for banks that is usually the RBI repo rate, the rate at which RBI lends to banks. A fixed rate stays the same for the period you agree.
Processing fee: A one-time charge for handling the application. It is usually a percentage of the loan amount plus GST, and it is often deducted before the money reaches you.
Credit score: A number from 300 to 900 that shows how you have repaid past loans and cards. A higher score usually gets you a lower rate.
Sources and last check
Every figure above is read from the loan provider's own website and was checked on 12 October 2026. A blank means the page does not show that figure, and we never estimate one.
- ICICI Bank: icici.bank.in/personal-banking/loans/education-loan
- IDFC FIRST Bank: idfcfirst.bank.in/personal-banking/loans/education-loan
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More education loan comparisons
ICICI Bank vs IDFC FIRST Bank: every loan type on one page · All education loan comparisons · Education loan guide · Education loan EMI calculator
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Frequently asked questions
Which is better for an education loan: ICICI Bank or IDFC FIRST Bank?
ICICI Bank has the lower published starting education loan rate at 8.50%, against 9.50% at IDFC FIRST Bank. Rate is only one part of the cost, so also compare the processing fee, the prepayment terms and the total repayable amount in the Key Fact Statement.
Which has the lower education loan interest rate: ICICI Bank or IDFC FIRST Bank?
ICICI Bank has the lower published starting education loan rate at 8.50%, against 9.50% at IDFC FIRST Bank. The published ranges run to ICICI Bank up to 10.25% and IDFC FIRST Bank up to 14%, so the rate you are offered can sit well above the starting rate.
What is the education loan processing fee at ICICI Bank and IDFC FIRST Bank?
ICICI Bank: not published. IDFC FIRST Bank: Nil up to ₹7.5 lakh; above that up to 1.5% of loan amount. Fees can change, so confirm the amount in rupees, with GST, before you accept.
What is the maximum education loan tenure at ICICI Bank and IDFC FIRST Bank?
ICICI Bank: Up to 15 years. IDFC FIRST Bank: Up to 15 years. A longer tenure lowers the EMI and raises the total interest.
Can I prepay or foreclose an education loan early at ICICI Bank and IDFC FIRST Bank?
ICICI Bank: No foreclosure charges. IDFC FIRST Bank: Nil; no charge on foreclosure or part-payment. Ask whether the rate on your loan is fixed or floating, because the charges depend on it.
How much education loan can I get from ICICI Bank and IDFC FIRST Bank?
ICICI Bank: Up to Rs 3 crore. IDFC FIRST Bank: ₹1 lakh to ₹2 crore (collateral-free up to ₹1.5 crore). The amount you are offered depends on your income, credit profile and the security you give.
Who is eligible for an education loan at ICICI Bank and IDFC FIRST Bank?
ICICI Bank: Indian national; age 16-65 at maturity; 10+2 or diploma; confirmed admission to listed institute; good academic record. IDFC FIRST Bank: Indian nationals incl. NRIs; age 18+; admission to authorised institution; co-applicant required. Each loan provider can ask for more documents once you apply.
Are ICICI Bank and IDFC FIRST Bank regulated by the RBI?
Yes. ICICI Bank is a private bank, IDFC FIRST Bank is a private bank, and all lend under RBI rules, including the requirement to give you a Key Fact Statement before you sign.
Where do these education loan figures come from?
From the official pages of ICICI Bank and IDFC FIRST Bank, opened and checked on 12 October 2026. The sources are listed at the bottom of this page. We show a blank where a loan provider does not publish a figure, and we do not estimate one.
KhatuLoans is not a loan provider and is not paid by the loan providers named here to rank them. Rates, fees and eligibility change; always confirm with the loan provider. Read our editorial policy and how we make money.