.:: HSBC Educational Loan ::.

HSBC India Student Education Loan Program can help ease students' financial concerns as they embark on one of the biggest decisions in their life – attending the college / university of their dreams. The program enables you to borrow funds to cover the cost of education – tuition, fees, room charges, boarding, books, and other education-related expenses.

To qualify for an Education Loan, the following criteria apply

a.	Net Income (Rs.) of Primary Applicant / co-applicant	500,000 per year for Salaried. 750,000 per year for Self employed.
b.	Minimum Age (in years) of Primary Applicant / co-applicant	18
c.	Maximum Age (in years) of Primary Applicant / co-applicant	58 or retirement age (whichever is earlier) for salaried at loan maturity. 65 for self-employed.
		60 or retirement age (whichever is earlier) for PSU/government salaried employees, at loan maturity.
d.	Minimum Loan Amount (Rs.)	500,000
e.	Maximum Loan Amount (Rs.)	10,000,000
f.	Loan to Value Ratio	65% upto education loan of INR 5 M, 55% for education loan between INR 5-10 M
g.	Collateral	Residential Property. Either self-occupied and owned by either primary or co-applicant.
h.	Location	Property must be in Bangalore, Chennai, Mumbai, Delhi (NCR – Noida, Gurgaon, Faridabad), Pune.
i.	Primary Applicant	Must be the student.
j.	Co-Applicant	Must have a co-applicant in India and can only be parents or spouse of student.
		Co-applicant being considered when calculating the loan eligibility must be a resident Indian.

Loan Components

The tuition fees component can go up to 100% of the total loan amount
The lodging & boarding component is a maximum of 40% of the total loan amount
The cost of books & equipment component is a maximum of 10% of the total loan amount
The estimate for boarding, lodging expenses and also the cost of books and equipment needs to be confirmed by the concerned school.

 Margin Money

HSBC India can fund a maximum of 85% of the total programme fees
Upfront contribution proof of the remaining 15% of school fees must be submitted to HSBC, India prior to the disbursal

Currency

The loan is disbursed in Indian rupees (INR) from where the funds are forwarded to the concerned school in U.S. dollars
The applicant / co-applicant must repay the loan in Indian Rupees (INR)

Fees & Charges**Processing fees

1% of the loan amount applied for, subject to a minimum of Rs 5000 plus service tax. This fee is payable on application and is not refundable
Additional fees, as charged by GSLC apply. (If applicable)
A one-time administration fee of 1.75% of the principal amount plus service tax (at 10.30%, totally 1.93%) shall be collected by HSBC and payable to GSLC
An upfront non-refundable site usage fee of $75 is payable to GSLC via Credit Card or PayPal through the GSLC website

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