Tuesday, January 7, 2025
Tweet
Pin
It
|
Pursue your dream education course in India with HDFC Bank Education Loan. HDFC Bank Education Loan focus on pursuing the course of your choice and securing a great education.
Benefits of Educational Loan In India :
- Avail tax benefits under section 80(E) of income tax Act 1961
- Flexible repayment options
- Option to avail insurance cover for your loan
Eligibility :
Student
If you are an Indian resident/citizen, have got admission in a graduate/ post graduate course in a college/institute/university which is recognized by the UGC/AICTE/AIBMS or ICMR, then you are eligible for the HDFC Bank Student Loan for Indian Education. The applicant should be aged between 16 - 35 yrs.
Courses
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 in India, the maximum loan you can get is upto Rs. 10 lacs.
Margin
For loans upto Rs.4 lakhs - Nil
For loans above Rs. 4.00 lacs - 5%
A co-applicant is required for all Full-Time courses . Co-applicant could be Parent/ Guardian or Spouse/ Parent-in-law (if married)
Security
Collateral security will be required only for educational Loans above Rs.7.5 lakhs.
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 SSC,HSC,Graduation Marksheets |
| KYC (Know Your Customer) |
Age Proof Signature Proof Identity Proof Residence Proof |
| Income Documents |
Salaried Latest 2 Salary Slips carrying date of joining details Latest 6 Months Bank Statement of the Salary Account. Self Employed Last 2 Year ITR with Computation of Income Last 2 Years Audited Balance Sheet Last 6 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 6 Months Bank Statement Proof of Qualification |
| Others |
Completed Application Form Latest Photograph (Signed Across) |
Progress reports to be provided at the time of every disbursement tranch. Progress report includes mark sheets or a letter from the Institute, in case the mark sheet are not available while processing the fresh disbursement tranch.
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:
A repayment moratorium (also called a repayment holiday) is the course work period + 1 year or 6 months after the student gets a job or starts earning, whichever is earlier.
The maximum repayment tenures are as below:
- For loans upto Rs. 7.50 lacs - upto 10 years
- For loans above Rs. 7.50 lacs - upto 15 years
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
Professional Education Loan
,
HDFC Bank Education Loan
Find it Useful ? Help Others by Sharing Online
Comments and Discussions |
|
|
