Education Loan in HDFC Bank

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Education Loan in HDFC Bank

With HDFC bank student education loans, pursue your dream higher studies without worrying for financial assistance. We provide student education loans for all Graduate, Post – Graduate, Engineering, Medical, MBA, Vocational Courses ( Multi – Media, ERP ) offered by recognized institutions in India.

No more running from pillar to post for availing student loans! Our friendly sales managers will guide you in every step to make your dreams into reality.

Features & Benefits – Indian Education :

  • Student Loans Upto ₹ 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.
    1. Residential Property.
    2. HDFC Bank Fixed Deposit.
    3. LIC / NSC / KVP
  • HDFC Student 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 ).
  • HDFC Education Loans available for short duration / job oriented courses also.
  • Avail the tax rebate offered under section 80 – e of the income tax act* 1961 for the entire interest amount paid on your education loan.

Please refer http://law.incometaxindia.gov.in/TaxmannDit/Displaypage/dpage1.aspx?md=2&typ=cn&yr=2009&chp=211 to view the income tax circular.

Email : loansupport@hdfcbank.com to receive interest certificate for FY 2008 – 2009.

  • Loans available for other course related expenses also!
  • Pls check with your CA.
  • # From Bank’s approved list of Institutes.
  • **Third Party Guarantee for loans between ₹ 4 lakhs to ₹ 7.5 lakhs.

Special privileges :

  • Service At Your Door Step.
  • Loans disbursed directly to the educational institution as Per the Fee Schdule.
  • Insurance Protection from HDFC ERGO.
  • Gateway To Other Banking Products And Services.
  • Savings Account.

HDFC Education Loan Eligibility

  • You need to be a Resident Indian.
  • You should be aged between 16 – 35 yrs.
  • Collateral is required for all loans greater than ₹ 7.5 Lakhs.
  • All Loans require a co – applicant. For co – applicant eligibility, please refer http://www.hdfcbank.com/personal/loans/educational_loan/el_indian/el_indian_faqs.htm#7.
  • For complete details on eligible courses and other details, check our FAQs section.
  • For complete documentation, please refer http://www.hdfcbank.com/personal/loans/educational_loan/el_indian/el_indian_faqs.htm#15.

Avail the subsequent disbursements from the convenience of your home. Keep the following documents ready, our executive will collect the same from your door-step for priority processing.

HDFC Bank Education Loan Documents Required

  • Subsequent Disbursement Request Letter From Applicant Or Co – Applicant.
  • University Fee Demand Letter.
  • Applicant’s Academic Progress Report ( Previous Semester )
  • Five Post Dated Cheques Favouring HDFC Bank Limited Education Loan Account.

JEE Main

Application Form Submission 16 Dec 2020 to 16 Jan 2021.