HDFC
Education Loan
HDFC presents an upgraded financial solution for students aspiring to get admitted in premier institutions for studies in India
saraswat loan Scheme
Education loan for meritorious students pursuing higher studiesin india
HDFC Education Rate of Interest
The rate of interest charged by the bank is based on base rate or MCLR fixed by the bank under guidelines of RBI.
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The rate of interest charged for studies in India ranges from 9% to 14% per annum for all amounts.
HDFC Bank Education Loan is extended to students aspiring for studies in premier institute in India
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Flexible loan terms
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Hassle-free documentation process
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Attractive Rate of Interests
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Range of over 950 courses
HDFC Education Loan Eligibility
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Indian Citizen. A student must be a resident of India or be in possession of Indian passport
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Above 18 years of age. An applicant must be above the age of 18 years and hence, should have qualified 10+2
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Graduation/ Post-Graduation courses. You must have secured admission to a graduate or post graduate course in a recognized institute
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Co-Signer. A co-signer is a must for full-time programmers. Also, co-signer must be an immediate family member
How to apply for HDFC Education Loan ?
HDCF Education loan application form can be available online or offline at Bank branches.
Online :-
Visit the official website and Click on HDFC Education Loan
Click Apply Online through Vidyalaxmi Portal.
Fill up the form with all the necessary details
Upload the signature, photograph other documents required.
Submit the form and take print out.
After that visit the nearby HDFC BANK for the further proceedings.
Offline:-
For offline procedure, student can visit the bank and ask for application form for education loan. The bank representative will then be able to guide you with all necessary details and information about margin money, interest rates, and eligibility criteria about the suitable loan for you
HDFC Education Loan Details
Processing Fee
1% or INR 1000 (whichever is more)
Loan Security
Upto 4 lacs- No security required
From INR 4 Lacs to 7.50 Lacs: collateral security in form of third party guarantee
Above INR 7.50 Lacs: Tangible collateral security in form of residential property, HDFC fixed deposit, LIC, or any other policy.
Margin
Upto INR 4 Lacs: no margin
Above INR 4 lacs: 5%
Loan Limit
INR 10 Lacs
Loan Repayment
Course Period + 1 year or 6 months after getting the job
Up to INR 7.5 Lacs: 10 years
Above INR 7.5 Lacs: 15 years
Courses Covered Under HDFC Student Loan Scheme In India
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Professional courses in Management in all verticals
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Graduation courses in Engineering in all branches and streams for recognised institutions
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Graduation and Post-graduation courses in medicine, dentistry, pharmacy, physiotherapy
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Architectural courses
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Hotel and Hospitality management and administration
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Agricultural courses
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Degree courses in pure science disciplines like Maths, Botany, Zoology, and Chemistry
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Degree/Diploma courses in advanced sciences
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Post graduate courses in computer applications like MCA / MCM
Expenses covered under HDFC Student Loan Scheme
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Tuition fee
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Examination Fee
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Library/ Laboratory fee
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Hostel Fee
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Cost of Books, equipment, instrument or uniforms
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Miscellaneous expenses- study tours, project work, thesis, etc.
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Other travelling cost
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Caution deposits and building funds
Education Loan Documents Required ?
Properly filled Application Form with all necessary details
Copies of Age Proof, Identity Proof, and Residence Proof
2 Attested Passport size photograph
Mark sheets of all qualifying courses
Income Proof- 6 months bank statement, Form 16, and Audited Balance Sheet of last 2 years
Bank account statement of the applicant
