HDFC Student Loan For Indian Education
Don't let money be the deterring factor in pursuing your/helping your child in pursuing his, education, with a wide range of education loan options from HDFC. Be it graduate, post-graduate or a vocational course, in engineering, medical, MBS, and so on, if it is from a recognised institution in the country, the bank would be more than eager to help you out on the financing front. Further, there are easy repayment options, no collateral required, and loans available for a period as long as 7 years.
Features & Benefits –Indian Education
- Student Loans Upto Rs. 15 Lakhs for education In India
- Unsecured Lending Upto INR 7.5 Lakhs
- No Collateral Or Third Party Guarantee
- Wider Range Of Collateral For Loans Above INR 7.5 Lakhs
- Residential Property
- HDFC Bank Fixed Deposit
- LIC/NSC/KVP
- Gold
- Loan available upto tenure of 7 years including moratorium period
- Repayment to start 1 year after course completion / 6 months after obtaining employment (whichever is earlier)
- Loans available for short duration/ job oriented courses also
- Tax Benefits availaible under Section 80E of the IT Act
- Loans available for other course related expenses also!
- Pls Check with your CA
- from Bank's approved list of Institutes
- Special privileges
- Loans disbursed directly to the educational institution as Per the Fee Schdule.
- Education Suraksha- Insurance Protection Under Bajaj-Allainz
- Gateway To Other Banking Products And Services.
- Savings Account
- Pre-Approved Credit Cards #
Credit Shield
In case of death or total permanent disability of the loanee, the loanee/nominee can avail of the Payment Protection Insurance
(Credit Shield) which insures the principle outstandings on the loan upto a maximum of the loan amount. Principle outstanding is
defined as the amount of loan outstanding (not including any arrears in payment or interest thereon) at the Date of Loss, having
accounted for payments made and interest accruing as determined in the Policy. Hence, the amount covered does not include any
principal added because of non - payment of EMI and also will not include interest/ accrued charges.
Personal Accident Cover
In order to ensure that your family is taken care of we also offer a Personal Accident cover of Rs.2,00,000 at a nominal premium.*
*Conditions Apply
Eligibility
- You need to be an Indian National.
- You should be aged between 16 - 35 yrs.
- Collateral is required for all loans greater than Rs. 7.5 Lakhs.
- All Loans require a co-applicant. For co-applicant eligibility - Click here
- For complete details on eligible courses and other details, check our FAQs section
Fees & Charges for Educational Loan
- Description of Charges Personal Loan
- Loan Processing Charges Upto a maximum 2% of the loan amount
- Pre-payment charges Upto 4% of the Principal Outstanding
- No Due Certificate / No Objection Certificate (NOC) Nil
- Solvency Certificate Not applicable
- Charges for late payment of EMI @ 24 % p.a. on amount outstanding from date of default
- Credit assessment charges Not applicable
- Non standard repayment charges Not applicable
- Cheque swapping charges Upto Rs. 500/- per event
- Loan cancellation / re-booking charges / Re-scheduling Upto Rs. 1000/-
- Bounce Cheque Charges Upto Rs. 450/- per Bouncing
- Statement Charges (per statement) / Repayment Schedule Upto Rs. 500/-
- Legal / incidental charges At actual
- For complete documentation click here
* Premium will be charged for this product.A transaction fee of Rs.350 will also be deducted at the time of disbursal. Pls note
that service tax @ 10.30%(Inclusive of Education Cess) will also be charged on both the premium and the transaction fee.
