HDFC Bank Education Loan In India 2023: To pursue higher education in the best universities or institutions, you need Loan for admission. And after clearing the entrance Exam or merit-based selection process, you can apply for an education Fund at HDFC Bank. You can Search out the instant solution to the Loan you need for education at this private banking leader. To get the education Fund, you need to be an eligible Candidates. And the one who meets the criteria can Taken the desired amount from HDFC Bank to get the education. With the attractive rate of Return in HDFC Education Fund, you can pay the borrowed amount over a maximum of 15 years.
Candidates can also get an education in a foreign university with HDFC Bank support. Because if education is limitless why your Loan can be. To borrow the loan which you Needs to get the admission, you just need to visit HDFC Bank. Know about the HDFC Education Fund schemes in Information, and how their features can help Candidates achieve their dreams.
HDFC Bank Education Loan In India 2023
- 1 HDFC Bank Education Loan In India 2023
- 2 HDFC Bank Education Loan In India 2023 Details
- 3 There are 4 types of education Fund in India
- 4 HDFC Education Loan For Education in India
- 5 HDFC Education Loan for Foreign Education
- 6 HDFC Education Loan Calculator
- 7 How to Apply for an Education Loan in HDFC Bank?
For the Candidates who have made their plans already to secure their admission in the best Indian Universities or colleges, HDFC Bank gives them 100% Money support. You can Take up to INR 7.5 lakh from the bank against zero collateral security. Using the Fund, you can pay for your semester fees, book expenses, and personal computer purchase if it is Needs for educational purposes.
HDFC Bank charges an Return rate of 9.45%-12.01% per Year. And the rate of return is based on the parent income who is the co-Candidates of HDFC Education Loan. You can add your spouse, parent-in-law or guardian as co-Candidates of the loan. And there is a higher chance of getting a lower Return rate on the borrowed amount if you have secured admission in a renowned university based on your Approach results.
HDFC Bank Education Loan In India 2023 Details
|Bank Name||HDFC Bank|
|Lone Name||Education Lone|
|Article For||HDFC Bank Education Loan In India 2023, Abroad, Interest, Eligibility|
What Is an Education Loan?
An Education loan is the loan or funds Taken by an individual to pursue higher studies in India or abroad. The Fund repayment commences for the Candidates after completing the education and a period of 6 months is given as grace Time to Candidates to get or join a job. The Return amount will be determined by your choice of Return, you need to decide how you want to repay the Fund. That is if you want to start paying during the time of moratorium Time itself or after the moratorium Time. The Moratorium Time is the time of your education plus 6 months or 1 year given to get a job. It is only after this time that you are expected to pay the Fund.
There are 4 types of education Fund in India
- Under Graduate education Fund- These are given to Candidates who have completed their secondary education and looking to do higher studies in the form of under graduation. It can be Ok in India or abroad.
- Post graduate education Fund- These are education Fund given to individuals who want to pursue post-graduation after completing under graduation course from a reputed university/college. Here also the Fund can be for studying in India or abroad.
- Parents availing education Fund- This is the case where the parents take Fund for the education purposes of their children. This is an unsecured Fund and need not be for graduate or post-graduation courses but also for elementary and higher secondary courses.
- Career growth education Fund- These are Fund Given to young people who want to pursue courses or trainings, certifications that will benefit their career growth.
About HDFC Bank
HDFC Bank Headquartered in Mumbai, HDFC Bank Limited is an Indian banking and Money services company. Being the Beigest private sector lender by assets, HDFC has 84,325 employees, 4,727 branches and 12,220 ATMs across 2,666 cities In India.
HDFC Education Loan For Education in India
You can also Take money for part-time educational courses from HDFC Bank where you can Take money up to INR 75 lakh only at a fixed Return rate of 12.75%. The bank offers a lower payment Time for the part-time course. You can still get the 1-year moratorium Time on your education Fund. Payment of the Fund is made in equated monthly installments.. Below is the table that shows the detailed charges and Return rate of the HDFC Bank Education Loan In India 2023.
|Return Rate||9.45%-13.33% per annum|
|Processing Cost||1% of the loan amount|
|Prepayment/Foreclosure charge||4% of outstanding if paid during the moratorium Time
Nil if paid after the moratorium Time
|Late Payment fee||24% per Year
2% on each due EMI
Eligibility Criteria Education Loan In India
- You should be aged between 16 to 35 years
- Fund of more than Rs. 7.5 Lakh, a collateral security will be Needs.
- Fund amount of Below No need for Collateral Security
- A co-Candidates is mandatory for all full time programs. Co-applicant could be Parent/ Guardian or Spouse (if married) / Parent-in-law (if married).
HDFC Education Loan for Foreign Education
Your dream of going to college or the best foreign university is coming true with foreign education Fund from HDFC Bank. To Take money with no upper limit of the collateral you can Take the entire education expenses. And, if the Taken needs an unsecured Fund, HDFC Bank Money up to INR 35 lakh for the customers for their educational purposes. The Return rate charged to the Take amount is the same as the Indian education Fund. It means you can get a suitable EMI for your borrowed amount. You get an option of 650 courses across 36 countries with HDFC education Fund, and the amount is disbursed before the admission. So, you don’t need to wait for the Fund approval after the admission anymore with HDFC Bank services. Below is the list of expenses that HDFC Bank Education Loan
- Course Test, library, lab and semester Cost
- Returnable deposits Needs by the university for the admission
- Buy of books, equipment, instrument, uniforms (if mentioned) or computers for the essential to complete the course.
- Travel expenses for abroad studies
- Insurance cover
- Course-connected expenses like study tours, project work, thesis, etc.
|Interest Rate||9.45%-14.01% per annum|
|Processing fee||1.5% of the loan amount|
|Late Payment||2% on the due EMI|
Eligibility Criteria Education Loan In Abroad
- You should be aged between 16 to 35 years
- Fund of more than Rs.10 Lakh, a collateral security will be Needs.
- Fund amount of Below No need for Collateral Security
- A co-Aspirants is mandatory for all full time programs. Co-applicant could be Parent/ Guardian or Spouse (if married) / Parent-in-law (if married).
HDFC Bank Education Loan Interest Rates
|Scheme Name||Maximum Loan Amount||Interest rate (p.a.)|
|HDFC Education loan for Indians||Up to Rs.10 lakh||9.55% – 13.25%|
HDFC Education Loan Calculator
You can Go To the Main website of HDFC Bank and use Throw the online tool-EMI calculator to generate your EMI Elsy. To know how your education Fund payment is going to be, the best way to Search it out is via the HDFC EMI calculator. Just put your desired Fund, Return and tenure to know the appropriate EMI. Expect, you have Take a Fund of INR 12 lakh from HDFC Bank to get admission in the Went university. And the bank charges an Return rate of 10.00% per Year. So your EMI would be INR 8,745 On The Report Of to the EMI calculator. The tool works as per the formula of [P x R x (1+R)^N]/[(1+R)^N-1], where P is your Fund, R is the Return rate and N is the duration of payment.
Also Read-HDFC Customer ID Find Online
Documents for HDFC Education Loan
The Take needs to submit a list of documents to the bank that prove his/her and Candidates identity and income Information. And if you mortgage your property or fixed deposit for the security of the Fund, you are Needs to submit the deposit receipts and property Paper. Look at the list of KYC and income proof Needs for the documentation process. The income Id is Needs to submit for the take only and the Candidates doesn’t need to provide any income proof.
- Letter of admission
- Filled in Loan Application Form
- 2 passport size photographs
- Statement of cost of study
- PAN Card of the Candidates and Parent/ Guardian
- AADHAR Card of the Candidates and Parent/ Guardian
- Proof of Name (Driving License/Passport/Aadhar/ any photo identity)
- Proof of Address (Driving License/Passport/Electricity bill/Telephone bill)
- Candidates /Co-borrower/ guarantor’s bank account statement for last 6 months
- IT return/ IT assessment order, of Last 2 years of Parent/ Guardian/ other co-Take (if IT Payee)
- Brief statement of assets & liabilities of Parent/ Guardian/ other co-Taker
- Name of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower
How to Apply for an Education Loan in HDFC Bank?
To apply for the HDFC Bank education loan using the online mode.
- First of all, Go To The the official website of HDFC Bank www.hdfcbank.com
- After That, the application process is both online and offline, so you don’t have to worry even a bit.
- either you can Open directly to the bank or to the lender or you can Go To the official website to know the Information.
- after That the application form, you need to Enter it with utmost care. In case of online, you can Simple download the application form and can fill up it.
- After That, you have to add your Number sheet, your admission proof, and other Needs documents.
- you also have to Take an interview with the officials. They will Read whether you are eligible or not.
- this step includes documentation and validation of all the Information which you had Given in the earlier steps.
your loan will be accept in this step and in few days of time, the Fund will be disbursed is well.