Thursday, January 16, 2025
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Pursue your dream education course in abroad with HDFC Bank Credila Education Loan. HDFC Bank Education Loan focus on pursuing the course of your choice and securing a great education.
Eligibility :
Student
Credila provides education loan to Indian students for higher studies in India and abroad. Credila has funded Indian students for pursuing higher studies in over 2000 institutes across 36 countries.
If you are an Indian resident/citizen, have got admission for a job oriented professional / technical courses offered by reputed universities, MBA, MCA, MS, etc, Degree / diploma courses like aeronautical, shipping, etc provided these are recognized by competent regulatory bodies in India/abroad for the purpose of employment in India / abroad. The applicant should be aged between 16 - 35 yrs.
Courses
*Other courses may be considered on a case to case basis
Loan Details
Coverage of expenses
Apart from the basic course fee payable to the institution where you decide to study, the following expenses will be covered under the loan:
The tuition and hostel fees (if any) will be disbursed directly to the educational institute as per the schedule and structure of fees given by them.
Quantum
To study abroad, the maximum loan amount you can get is up to Rs. 20 lakhs.
Margin
For loans upto Rs.4 lakhs - Nil
For loans above Rs. 4.00 lacs - 15%
A co-applicant is required for all Full-Time courses . Co-applicant could be Parent/ Guardian or Spouse/ Parent-in-law (if married)
Security
For loans up to Rs. 4 lakh - No collateral or Third Party Guarantee is required
For loans from Rs. 4 lakh to Rs. 7.5 lakh – No collateral required, however
Third Party Guarantee is required
For loans above Rs. 7.5 lakh – collateral is required
The acceptable collaterals are: Residential Property, HDFC Bank Fixed Deposit, LIC, NSC or a KVP policy.
Documents Required
| Category | Applicant (Student) |
|---|---|
| Academic | Institute Admission Letter with fee break-up: USA Applicant: I-20 Form
and UK Applicant: CAS Letter SSC, HSC, Graduation mark sheets and also mark sheet of any entrance exam like GRE/ GMAT/ TOFEL/ IELTS |
| KYC (Know Your Customer) |
Age Proof Signature Proof Identity Proof Residence Proof Signature verification-Student/Co-Applicant like: PAN Card, Passport, Credila’s completed signature Authentication form Authenticate by Bank or 10th/12th or equivalent mark sheet with signature for student below 21 years |
| Income Documents |
Salaried Latest 2 Salary Slips carrying date of joining details Latest 6 Months Bank Statement of the Salary Account. Latest 1 Year’s form 16 from employer along with 1 year income tax return Self Employed Last 2 Year ITR with Computation of Income Last 2 Years Audited Balance Sheet Last 8 Months Bank Statement Proof of Turnover (Latest Sales / Service Tax Return) Self Employed - Professional Last 2 Year ITR with Computation of Income Last 2 Years Audited Balance Sheet / P& L Last 8 Months Bank Statement Proof of Qualification |
| Others |
Completed Application Form Latest Photograph (Signed Across Any document for establishing relationship between student and the co-applicant viz. ration card, marriage certificate, birth certificate etc. |
The report of audit, duly signed and verified by the chartered accountant is required to be given in such form and setting forth such particulars as prescribed by the Board. Rule 6G of IT Act provides that such audit report and particulars should be given in Forms No. 3CA/3CB asmay be applicable and the statement of particulars should be given inForm No.3CD.
Rate of Interest & Other Charges
As per bank rules
An exhaustive list of all the fees and charges to be paid for the education loan:
Repayment
The maximum tenure of the loan can be 7 years, including the Moratorium period.
Contact Details
HDFC Bank
Head Office : Ramon House, 169, Backbay Reclamation, H T Parekh Marg, Churchgate,
Mumbai - 400 020.
Telephone No. : +91 (22) 66316000
Fax No.: +91 (22) 22048834
E-mail : Contact
Now
Website : visit
Customer center : HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai
400 013
Click here for the nearest bank branches
Note : Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.
Tags
Study Abroad Loan
,
HDFC Bank Education Loan
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