Elder has not played a minute for Leicester City this season.

Last season the fullback was loan with Wigan Athletic and helped the Latics win League One.

The 23-year-old arrives at Portman Road with Ipswich in the relegation zone.

"Results for the first half of the season haven't been great but Ipswich is still a massive Club," Elder told The Leicester Mercury.

"I've seen in the past few days that there are talented lads in this squad and I'm delighted to be a part of that now. We're all going to be pulling in the same direction and hopefully come May we'll have achieved our goal.

"Winning League One with Wigan last season was great but this is a different challenge and it's one I can't wait to grab with both hands."

Ipswich are bottom of the table with just two wins from 26 matches.

“I’m delighted we have been able to get Callum in early,” Blues boss Paul Lambert said.

"He gives us more competition on the left side. He is a very good player. He’s been training with top players at Leicester and he has handled that well. He’s got a really good left foot and he wanted to be here and that’s vital for me.

"I need players who want to come here and play for this club."