HDFC Bank Education Loan | Education Loan for Indian Education
HDFC Bank is one of India's leading private sector banks. HDFC Bank provides a wide
range of financial products and services to its customers across hundreds of
Indian cities. HDFC Bank also provides financial support to students who wish
to study further with comprehensive education loan products. HDFC Bank offers the following types of education
loans.
1. Education loan for Indian education
2. Education loan for foreign education
In this article, let us take
a look at all the details like benefits, features, eligibility, documentations
that you need to know about HDFC bank education loan for Indian education.
HDFC Bank Education loan for Indian education
HDFC Bank is empowering the youth of India
to get the higher education they've always wanted by offering education loan. HDFC Bank education loan gives you the opportunity to fulfill your career goals with loans that are tailor-made to suit
your every educational need. You will also enjoy doorstep service and quick
disbursal of funds when you apply for HDFC bank education loan for Indian
education.
Also read: Vidya Lakshmi Portal | Find a suitable education loan
Also read: Vidya Lakshmi Portal | Find a suitable education loan
Benefits of HDFC Bank Education loan for Indian education
Following are some of the benefits of HDFC Bank Education
loan for Indian education:
1. Doorstep service.
2. Competitive pricing.
3. Tax benefits under section 80E.
4. Insurance cover.
Features of HDFC Bank Education loan for Indian education
Following are the features of HDFC Bank Education loan
for Indian education:
1. HDFC bank offers up to Rs 10 lakhs as
education loan for Indian education.
2. The loan tenure is up to 10 years for loans up to Rs. 7.5 lakhs and 15
years for loans above Rs. 7.5 lakhs.
3. No security required for a loan
up to Rs. 4 lakhs and parents to be joint borrowers. For loan above Rs. 7.5
lakhs, a collateral security of suitable value in the form of residential
property, HDFC Bank FD, LIC, National Saving Certificate or Kisan Vikas Patra along
with parents to be joint borrowers.
4. HDFC also provides you an option to buy insurance
protection in the form of Credit Protect from HDFC Life to secure your
education loan.
5. Quick and easy disbursals of loans directly to the educational institution.
6. Easy documentation process for availing HDFC Bank Education loan for
Indian education.
7. Loan processing charges is a
maximum up to1% of the loan amount or a minimum of Rs. 1000/- whichever is
higher.
Eligibility for HDFC Bank Education loan
for Indian education
The following people are
eligible to apply for HDFC bank education loan for Indian education:
1. HDFC bank education loan
for Indian education is applicable for resident Indians.
2. Age should be between 16 to
35 years.
3. Third party guarantee and
parents as joint borrowers for availing loan amount 4 lakhs <=7.5 lakhs.
4. Tangible collateral security
along with parents to be joint borrowers for availing loan > 7.5 lakhs.
Documents required for HDFC Bank Education loan
for Indian education
Following documents are required
for HDFC Bank Education loan
for Indian education:
1. Completed
loan application form.
2. Institute admission letter with fee break-up.
3. SSC, HSC, Graduation mark sheets.
4. Documents for KYC such as age proof, signature proof, identity proof
and residence proof.
5. Income documents.
6. Latest photograph (signed across).
Courses covered for HDFC Bank Education loan for Indian education
You can take HDFC bank education loan for Indian
education for the following courses:
1. Full-time management courses (Graduation & Post
Graduation).
2. Government & private engineering courses (Graduation).
3. Medicine (Graduation & Post Graduation).
4. MCA or MCM.
5. Architecture (Graduation & Post Graduation).
6. Hotel and Hospitality (Graduation & Post
Graduation).
7. Agriculture (Graduation & Post Graduation).
8. Pure Science (Graduation & Post Graduation).
Expenses covered under HDFC Bank Education loan for Indian education
Expenses covered under HDFC
Bank education loan for Indian education are payment of basic course fee, examination fees, library
fee, laboratory fee, caution deposit, purchase of books, instruments,
uniform, computers (essential for completion of the course), equipments,
miscellaneous expenses (study tours, project work, thesis etc.) and insurance.
You can avail HDFC bank education
loan for Indian education if you are an Indian resident and got admission in a
graduate or post graduate course which is recognized by the UGC, AICTE, AIBMS
or ICMR.
Also read: SBI Student Loan Scheme | SBI Education Loan
Also read: How to pay HDFC credit card bills?
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HDFC Bank Education Loan | Education Loan for Indian Education
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