HDFC Education Loan: If you HDFC Bank Education Loan If you want to take advantage of this then this article is for you. Any student can take an education loan to meet any expenses related to his education.
Like other banks, HDFC Bank also provides education loan facility to its customers. You can get an education loan up to Rs.45 lakh from HDFC Bank. In this article, we are going to get complete information related to HDFC Education Loan, so read this article till the end.
HDFC Bank Education Loan in Hindi 2022
You can apply for this loan (student loan) both online and offline. The loan tenure of HDFC Education Loan is up to 15 years. HDFC Bank mainly provides three types of student loan to the customer, about which we will know in detail in this article.
HDFC Education Loan being in the category of an unsecured loan, this loan is provided by the bank keeping in mind several factors like CIBIL score, income etc. of the applicant.
All the students who want to get Student Loan for any course in India or in any country outside India (HDFC Bank Education Loan for Foreign Education) HDFC Student Loan can apply for.
Before applying for the loan, you can calculate your loan EMI with the help of HDFC Education loan calculator, which will help you in finding out the amount of installments you will have to pay at the time of loan repayment.
HIGHLIGHTS:
| loan name | hdfc education loan 2022 |
| name of lender | HDFC Bank |
| Rate of interest | Starting at 9.55% p.a. |
| loan tenure | maximum 15 years |
| loan amount | For Indian education – up to Rs 30 lakh Unsecured loan up to Rs.45 lakh for overseas education |
| application mode | online / offline |
| official website | www.hdfcbank.com |
HDFC Education Loan Interest Rate 2022
The current student loan interest rate 9.55% p.a. starts from HDFC Bank offers student loans to its customers at attractive interest rates. The student loan interest rate affects your EMI. If the interest rate of your loan is high, then the EMI of the loan will also be high.
Education Loan For Indian Education:
Properties:
- hdfc study loan Under this, you can get a loan amount of up to 30 lakh rupees.
- You can get a loan of up to Rs 7.5 lakh without any collateral.
- The loan process is completely transparent. No Hidden Charges
- Apply for the loan with minimal and simple documentation.
- The loan will be disbursed directly to the institution based on its fee structure.
- The applicant can avail pocket-friendly EMI repayment options to meet their needs.
- If you take a loan amount of more than 7.5 lakh rupees, then it is mandatory to give collateral.
- Under section 80E of the Income Tax Act 1961 you HDFC Student Loan But the benefit of tax benefits is given along with exemption on the interest paid by you.
- On taking admission in a top university, you will be provided with Preferential Interest Rates.
- You can take advantage of insurance on your loan.
HDFC Bank Education Loan for Foreign Education
Properties:
- Under this loan, you can get an unsecured loan up to Rs 45 lakh.
- On taking admission in a top university, you will be provided with Preferential Interest Rates.
- Loan tenure of this loan Moratorium Period up to 14 years inclusive.
- This HDFC Bank Education Loan The following costs will be covered under:
- All tuition fees as determined by the College/University.
- Up to 100% of other expenses including living and hostel expenses, traveling expenses, examination fees, library / laboratory fees.
- Purchase of books/equipment/equipment/uniform.
- Passing Money To Study In India |
- Purchase of Computer/Laptop as deemed necessary to complete the course as decided by HDFC Credila.
- travel fare |
- In some cases it will be mandatory to give collateral (movable or immovable).
HDFC Education Loan Eligibility Criteria
Eligibility for Indian Education:
- The applicant must be a permanent resident of India.
- The age of the applicant should be between 16 to 35 years.
- It is mandatory to have a co-applicant.
- Co-applicant can be parent/guardian, or husband/wife/father-in-law.
- The student must have secured admission to a higher education course through an entrance test / merit-based selection process in recognized institutions in India or abroad.
Eligibility for Foreign Education:
- Applicant must be a citizen of India.
- The co-applicant must be an Indian citizen.
- Power to grant bail for certain cases.
- Co-borrowers should have a bank account with any bank in India with check writing facility.
- Confirmation of admission in colleges before disbursement.
HDFC Bank Education Loan Documents Required
Documents for Indian Education:
Pre – Sanction :
- Academics:
- Institute Admit Card with Fee Break-up
- SSC, HSC, Graduation Marksheet
- KYC:
- age proof
- signature proof
- identity proof
- proof of residence
- other:
- Filled Application Form
- Latest Photograph |
- Income Document – For Salaried:
- Joining details are included in the latest 2 pay slips.
- Latest 6 Months Bank Statement of Salary Account.
- Income Document – Self Employed:
- ITR of last 2 years with computation of income.
- Audited Balance Sheet of last 2 years.
- Last 6 months bank statement.
- Proof of turnover (Latest Sales/Service Tax Return) |
- Income Document – Self Employed – Professional:
- ITR of last 2 years with computation of income.
- Audited Balance Sheet / P&L for the last 2 years.
- Last 6 months bank statement.
- Proof of Eligibility
Post-Sanction:
- Loan Agreement – Complete loan agreement signed by the applicant and co-applicant.
- Repayment Instructions – PDCs/ACH or SI Mandate 3 Security PDCs in case of ACH and SI repayment mode.
Documents for overseas education:
- Passport size photographs of the applicant and co-applicant.
- Photo Identity Card – Applicant and Co-applicant (any one of the following):
- Permanent Account Number (PAN) Card
- Passport
- driving license
- Aadhar card
- voter ID card
- Residence Proof – Applicant and Co-Applicant (Any one of the following) :
- Passport
- driving license
- Aadhar card
- voter ID card
- Proof of admission (if available) – Admission letter printed on its letterhead from the institute with the address of the institute.
- Last 8 months bank statement of the co-applicant.
- Income proof of co-applicant – in case of salaried employee (all of the following):
- Latest 3 pay slips or salary certificates on the letterhead of the employer.
- Form 16 of the last 2 years from the employer or Income Tax Return of the last 2 years.
- Any other income proof which is not reflected in the above documents.
- Income proof of co-applicant – in case of self-employed or professional (all of the following):
- Income tax return of last 2 years.
- Certified Financial Statements for the last 2 years or Provisional Financial Statements duly certified by CA.
- Proof of office (any one of the following, lease deed, utility bill, title deed, etc.).
- Any other income proof which is not reflected in the above documents.
Student’s academic documents:
- Marksheet/certificate of 12th examination
- Marksheets/certificates of subsequent years of education like BE, B.Com, B.Sc, etc.
- Marksheet of any entrance exam like CAT, CET, etc. (if applicable).
- GRE/ GMAT/ TOEFL/ IELTS, etc mark sheet (if applicable)
- Scholarship Document (if applicable) |
Collateral – Immovable Property – (Flat, House, Non-Agriculture Land) (All relevant documents from the following list):
- property title deed
- 7/12 extract in case of land
- Registered Sale Agreement with Society Share Certificate
- Original registration receipt for the above agreement
- Allotment letter by Municipal Corporation / Authorized Govt. Authorities like MHADA, CIDCO, etc. Please add HUDA, DDA, JDA, GIDC etc.
- Establishment of rear series title of sale deed
- Latest maintenance bill along with receipts issued by the builder/society,
- latest property tax bill with receipts,
- NOC for mortgage from Society/Builder,
- approved building plan
- encumbrance certificate as per date etc.
How to apply for HDFC Education Loan?
If you fulfill all the conditions of this student loan, then you can apply for this loan online and offline. The details of the application process are given below:
hdfc student loan apply online
- You will see a form on the home page of the website.
- In this, first of all you have to select the loan in Product Type.
- After that select the education loan and click on apply online option.
- From here you will directly come to the official website of Vidyalakshmi Portal.
- After visiting the website, you can easily apply for this loan.
How to Apply for HDFC Education Loan Offline?
- To apply offline, you must first go to your nearest HDFC Bank branch.
- You will have to contact the bank employee by going to the bank.
- The bank employee will provide you all the information related to the loan.
- After that your documents will be verified.
- Then you will be given an education loan application form.
- Enter the information sought in the form correctly, attach your documents.
- And get it deposited in the bank.
- In this way your offline application will be completed.
HDFC Student Loan Fees & Charges
Various types of fees & charges are taken on education loan which are as follows:
Fees & Charges for Indian Education:
| processing charge | Up to 1% of the loan amount, minimum Rs.1000 |
| Legal / Contingency Fees | on real |
| Stamp duty and other statutory charges | according to applicable state laws |
| prepayment fee | Up to 4% of prepaid amount outstanding |
| loan cancellation fee | Zero |
Charges after loan disbursement:
| Fee for late payment of EMI | 24% p.a. on the outstanding/unpaid EMI amount from the EMI due date |
| Check/ACH Swapping Fee | Rs 500 |
| Duplicate Repayment Schedule Fee | 200 rupees |
| Loan Re-Booking / Re-Scheduling Charges | up to Rs.1000 |
| EMI return charges | up to Rs.550 |
Fees & Charges for overseas education:
| prepayment fee | Zero |
| No Objection Certificate (NOC) | Zero |
| late payment charges | 2% p.m. EMI (MI/PMII) + applicable taxes thereon |
| Statutory CERSAI Fee | CERSAI as per the charges levied by |
| Check or ACH Mandate or Direct Debit swapping fee | Up to Rs.500 per swap instance plus applicable taxes thereon |
| Cheque/ACH/Direct Debit Bouncing Fee | Rs.400 per check or ACH or direct debit return per presentation plus any applicable taxes thereon |
| legal/contingency charges | on real |
| Stamp duty and other statutory charges | according to applicable state laws |
| manual collection fee | Rs.200 per visit plus any applicable taxes thereon |
| Charges for updating and maintaining the loan account as per the request of the customer | Rs.1500 plus any applicable taxes thereon |
| origination fee | 1.5% + Taxes of the acceptance amount and is non-refundable |
HDFC Education Loan Customer Care Number
- Customer Care Number – 1800 202 6161 / 1860 267 6161
conclusion
In this article we have given you HDFC Bank Education Loan 2022 Complete information about has been provided. Any student can take advantage of this loan to meet the needs related to his education.
If you are facing any kind of problem in applying for HDFC Education Loan, then you can get information by calling HDFC Bank Customer Care Number.
FAQ:
The age of the applicant should be between 16 to 35 years.
Rs.30 lakh for Indian education and Rs.45 lakh for foreign education.