Facets of Taking an Education Loan for Studying Abroad | How to Get an Education Loan - HDFC Sales

  • 4 years ago
Facets of Taking an Education Loan for Studying Abroad:

What will your Education Loan cover?

1. Tuition Fees
2. Examination Fees
3. Boarding/Lodging/Commuting
4. One return ticket between India & the country of study

Eligibility criteria for HDFC Education Loan:

Primary Factors:

1. You & your co-applicant need to be a citizen of India & above 18 years of age
2. Your co-applicant should have a bank A/c in India with cheque book facility.
3. Admission to be confirmed before disbursement of your Education Loan

Secondary Factors:

1. The applicant's academic background
2. Credentials of the university you applied to
3. Nature of the course you applied for
4. Your & co-applicant's credit history

HDFC Education Loan details:

1. Minimum Loan amount: ₹1,00,000/-
2. Maximum Loan amount: No Maximum amount
3. Maximum rate of interest: 14%
4. Collateral Security: Flexible
5. Income tax benefits for a total of 8 years

Documents required for a HDFC Education Loan:

1. Application form duly filled
2. Passport size photo of applicant & co-applicant
3. Photo ID
4. Proof of residence
5. Proof of admission (if available)
6. Co-applicant's proof of income
7. Co-applicant's bank statement (last 8 months)
8. Other relevant documents (if required)

HDFC Student Loan Repayment Terms:

1. Simple interest can be paid during course period
2. Principal & EMI can be paid after the grace period
3. Entire loan can be paid over a period of 12 years
4. Repayment period can be extended over genuine reasons

Apply for your Education Loan today!

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