Purpose:
HDFC gives loans to students to partly meet their educational expenses / costs for pursuing specific higher educational courses at institutes approved by HDFC. Loans are given to students who are citizens of India . The student should have a consistently good academic record, and admission to an approved Educational Institute for pursuing a recognized course.Education Abroad
- Student Loans Upto Rs. 20 Lakhs for education Abroad
- Unsecured Lending Upto INR 7.5 Lakhs
- No Collateral Or Third Party Guarantee **
- Wider Range Of Collateral For Loans Above INR 7.5 Lakhs
- Residential Property
- HDFC Bank Fixed Deposit
- LIC/NSC/KVP
- Loan available upto tenure of 7 years including moratorium period #
- Repayment to start 1 year after course completion / 6 months after obtaining employment (whichever is earlier)
- Avail the tax rebate, offered under section 80-E of the Income Tax Act 1961* for the entire interest amount paid towards your education loan.
Eligibility
- You need to be an Indian National.
- You should be aged between 16 - 35 yrs.
- Collateral is required for all loans greater than Rs. 7.5 Lakhs.
- All Loans require a co-applicant. For co-applicant eligibility
- For complete details on eligible courses and other details, check our FAQs section
- For complete documentationClick here
Fees & Charges for Educational Loan
- Loan Processing Charges: Upto a maximum 2% of the loan amount
- Prepayment (upto 6 months of repayment): No pre-payment permitted
- Pre-payment charges (after 6 months of repayment): Upto 4% of the Principal Outstanding
- No Due Certificate / No Objection Certificate (NOC): Nil
- Solvency Certificate: Not applicable
- Charges for late payment of EMI: @ 24 % p.a. on amount outstanding from date of default
- Credit assessment charges: Not applicable
- Non standard repayment charges: Not applicable
- Cheque swapping charges: Upto Rs. 500/- per event
- Loan Re-Booking / Re-Schedulement Charges: Upto Rs. 1000/-
- Bounce Cheque Charges: Upto Rs. 450/- per Bouncing
- Legal / incidental charges: At actual
- Stamp Duty & other statutory charges: As per applicable laws of the state
For more details: Click here
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