HDFC Education Loan-Interest Rates,Eligibility,Documents,Schemes,Repayment-Education loan in India
HDFC Bank offering Education loans to study in India and Abroad for Indian Students. Housing Development Finance Corporation (HDFC) founded in August 1994 and it’s a 4th largest bank by assets in India. When you come across with operations and branches, It has over 5471 ATM’s in 996 major cities of India. The total branches of HDFC Bank are 1986.
You can get All Information Regarding HDFC Education Loan, Interest Rate, necessary documents have to submit, security, Cheque Bouncing charges, Penalty for Late payments, minimum and maximum age required and Education loans for courses etc
HDFC Education Loan to Study in India:
Student can HDFC Education loan form the range of 7.5 lakhs to 15 lakhs. For Education loan of 7.5 Lakhs and below amount, no need to give any third party guarantees.
Want to study in India? With HDFC Education loan, then get up to 15 Lakhs. Whenever you take HDFC Education Loan of more than 7.5 lakhs to 15 Lakhs, need to provide third party guarantee. To get approval have to show the Residential Property, HDFC Fixed Deposits, LIC, NSC and other possible documents.
Apply for HDFC Education Loan with following Documents:
Students have to submit the following documents while applying the Education loan in HDFC Bank. Students also have to submit the Admission letter, which you are going to studying along with all certificates.
|Education Certificates and Admission Letter-Proofs||Institute Admission Letter with Fee break-up andSSC(10),
Graduation Marks Sheets
|KYC(Know Your Customer)||Age Proof|
List of Documents need to submit from Students’ Parent/Spouse/Siblings side:
Latest 2 months of salary statements, Last 6 months of salary account bank statement and other necessary documents, if he/she working as a employee. In case of Self-employee have to submit last 6 months of bank account balance sheet and proof of turn over.
HDFC Education Loan Interest Rate:
Interest rates of HDFC Bank Education Loan as per the terms and conditions of Bank, which are mentioned in below table. 450 rupees charges for each cheque bounce and 1000 rupees for loan re-booking and 500 rupees for each cheque swapping.
|Loan Processing Charges||2% of the loan amount|
|Prepayment (up to 6 months of repayment )||No pre-payment permitted|
|Pre-payment charges (after 6 months of repayment)||4% of the Principal Outstanding|
|late payment of EMI||@ 24 % p.a. on amount outstanding from date of default|
|Cheque swapping charges||500 rupees per event|
|Loan Re-Booking / Re-Scheduling Charges||1000 rupees|
|Charges for Cheque Bounce||450 rupees per 1 cheque Bouncing|
HDFC Education Loan Re-Payment:
Students, who will get HDFC Education loan, have to re pay the loan amount after 1 year completing the course or 6 months after getting the job. It’s completely in your hand. you can follow either of methods to pay the loan amount to them.
Eligibility Criteria for Securing HDFC Education Loan (Indian Education):
Student/Applicant must be an Indian citizen
Student must have at least 16 years and the maximum age limit is 35 years
For more than 7.5 lakhs of Education loan, third party guarantee required
Loan will be sanction based on Income of Student’s Parent/Spouse/Siblings
HDFC Education Loans only for Mentioned Courses:
Graduation Courses-HDFC will provide Education loans to study in India for Some Graduation and post-graduation courses like Engineering in Private and Government Colleges, Management Education as full time course of Post-graduation studies, Master of Computer Application (MCA), Architecture and Hotel& Hospitality graduation courses. you can have the list of courses, which are eligible for a student to take HDFC Education loan
Management Courses (Full-Time) – Post Graduation
Engineering Courses- Graduation
Medicine – Graduation and Post-Graduation
Masters in Computer Application (MCA)-Post-graduation
Architecture – Graduation
Hotel and Hospitality – Graduation and Post-Graduation
Agriculture – Post Graduation
Pure Science – Graduation and Post- graduation
HDFC Education Loan Covers:
HDFC Education loan covers lots of all necessary thing and fees to enjoy his/her studies. The fees like exam, lab and library, which cover in this scheme. Students also have to spend money on Study tour, Project work and etc. This HDFC Education loan gives much finance to enjoy your studies.
Building fee of college
Books, Uniforms, equipment’s and other necessary things
Expenses for travelling and Study tour
Project work expenses
Highlights/Features of HDFC Education Loan:
Loan range is 7.5 lakhs to 15 lakhs
There will be no need to provide any third party guarantee for loan up to 7.5 lakhs
The entire process will be complete within 1 week
HDFC Bank executives help you much for filling Application form and other documents
Low Interest rates
Quick process to get loan-It’s only possible in HDFC Bank
Compare with other banks, easy process to get Education loan
Payment starts after 1year completion of course or 6 months after getting the job.