Saturday, 24 March 2018

HDFC Bank Education Loan | Education Loan for Indian Education


HDFC Bank Education Loan | Education Loan for Indian Education

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



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: HDFC Bank Car Loan | Features & Benefits

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HDFC Bank Education Loan | Education Loan for Indian Education



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