HDFC Bank

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

Posted in: Scholarships