Education Loan in India by HDFC Bank

04 Aug, 2016



HDFC Education Loan in India – Set up as a private sector bank in 1994, the Accommodation Enlargement Finance Corporation Limited (HDFC) offers modify made education loan products catering to candidates applying for admissions in India and overseas. HDFC promises widespread transparency to clients while authorizing an edification loan. As a market frontrunner in retail loan products, HDFC delivers education loans with fast disbursements, easy certification and higher loan sums with competitive rates and charges. Candidates can benefit massively with a HDFC schooling loan as it conceals all major expenditures acquired during the tenancy of a course.


HDFC Education Loan in India Eligibility Criteria

  • You must to be an Indian resident
  • You intend be elderly between 16 – 35 years.
  • If you are seizure, a balance of in a superior way than Rs. 7.5 Lakh, collateral money in the bank will be required.
  • Co-applicant: A co-applicant is of the essence for all realized time programs. Co-applicant conceivable Parent/ Guardian or Spouse (if married) / Parent-in-law (if married).

Here is a comprehensive list of brochures that you will need for the Edification Loan:

Category Applicant (Student)
Academic Institution Admission Document with Fee break-up
SSC, HSC, Graduation Mark sheets
KYC (Know Your Customer) Age Evidence
Signature Evidence
Identity Evidence
Residence Proof
Income Documents Salaried
Latest 2 Salary Slips carrying date of joining details
Latest 6 Months Bank Statement of the Salary Account.
Self Employed
Last 2 Year ITR with Computation of Income
Last 2 Years Audited Balance Sheet
Last 6 Months Bank Statement
Proof of Turnover (Latest Sales / Service Tax Return)
Self Employed – Professional
Last 2 Year ITR with Computation of Income
Last 2 Years Audited Balance Sheet / P& L
Last 6 Months Bank Statement
Proof of Qualification
Others Completed Application Form
Latest Photograph (Signed Across)
Documentation (Post Sanction)
Is there any certification obligatory post the sanction of the loan?
Category Applicant (Student)
Loan Agreement Completed Loan Agreement to be Signed by Applicant and Co-applicant *
Repayment Instructions
PDCs / ECS or SI Mandate

3 Security PDCs in case of ECS and SI mode of repayment

* Stamp duty to be paid by the customer as per the relevant state laws.

Here are the official papers you need to submit for following disbursements:

  • Subsequent Disbursement Request Letter From Applicant and Co-Applicant/s
  • University Fee Demand Letter
  • Applicant’s Academic Progress Report (Previous Semester)

Reviewed Compensation Information – PDCs / ECS / SI plus 3 security PDCs in case of ECS and SI mode of repayment.


Aim for the Sky with HDFC Education Loans.

A praiseworthy candidate is by no means far away from their dream career, courteousness of HDFC Bank’s education loans. Candidates from each every persuasion can now take their first stepladders on the route to achievement. Every eye of our student loan supports the procedure of advanced edification in a comfortable method. Post-graduation, Tax benefits, EMI schedule and a stretchy tenancy make higher education both affordable and suitable as never before.

With swift loan dispensation, our student mortgages have quicker disbursal and lower auxiliary expenditures. Modest curiosity rates also permit students to make stress-free compensations after freeze period. These customizable and advantageous loan rapports will help bring expensive higher educational courses within the grip of every student.

HDFC Education Loan in India Features and Benefits

Focus on pursuing the course of your choice and acquiring a great edification. Leave the hassles of certification and finances of your Schooling Loan for Indian edification to us. Here are a few features of the loan:

  • Amount limits: Get Schooling Loan up to Rs. 10 lakh and leaky borrowing up to Rs. 7.5 lakh. No security will be mandatory for loans up to Rs. 7.5 lakh
  • Wider collateral options: Are you locking a loan of a higher amount than Rs. 7.5 lakh? We offer a widespread assortment of bank sanctioned guarantee securities like KVP policy, LIC, Residential Property, HDFC Bank Fixed Deposit, NSC or a.
  • Loan Tenure: The maximum reimbursement tenancy is up to 15 years post suspension period.
  • Tax Rebate: Did you know that you are authorized for a tax repayment for the interest you pay on an education loan under Section 80-E of the Income Tax Act 1961*?

You can check out some more exceptional privileges that you will get as a HDFC customer for an Education Loan for Indian Education:

  • We will deliver facilities at your approach.
  • Loans will be directly expended to the educational institution as per the fee structure.
  • Aim admission to some other great products and services that we offer. Get a Savings Account with us right away!

HDFC Education Loan in India Interest Rates & Charges

Enclosed underneath is HDFC Bank Edification Loan for Indian Education Interest Rates & Charges


Here is a comprehensive list of all the fees and charges to be paid for the education loan:

Description of Charges Education Loan
Loan Processing Charges* Maximum up to 1% of the loan amount as applicable.
Pre-payment charges* Upto 4% of the Outstanding Balance prepaid, if loan is foreclosed/ part prepaid during Moratorium (along with and in addition to due/accrued interest, if any and other amounts due and/or payable by the Borrower to the Bank). No prepayment charges will be charged if loan is foreclosed / part prepaid any time after expiry of the Moratorium.
No Due Certificate / No Objection Certificate (NOC) Nil
Duplicate of No Dues Certificate/NOC Nil
Solvency Certificate Not applicable
Charges for late payment of EMI @ 24 % p.a. on overdue/unpaid EMI amount outstanding from EMI due date
Credit assessment charges Not applicable
Nonstandard repayment charges Not applicable
Cheques / ECS swapping charges Rs. 500/- per instance
Duplicate Repayment Schedule Charges Rs. 200/-
Loan Re-Booking / Re-Scheduling Charges Upto Rs. 1000/-
EMI Return Charges* Rs.550/- per instance
Legal / incidental charges At actual
Stamp Duty & other statutory charges As per applicable laws of the state
Loan Cancellation Charges Nil cancellation charges. However, interest for the interim period (date of disbursement to date of cancellation), CBC/LPP charges as applicable would be charged and Stamp duty will be retained

*Terms & conditions apply

*Charges which are in nature of fees are EXCLUSIVE of service tax. Service tax and other government taxes, as appropriate, would be charged additionally.

Rates offered to customer during the period of Oct’15 to Dec’15

10.10% 15.50% 12.64%

Annual report Percentage Rate accessible to customer during the period of Oct’15 to Dec’15

10.10% 15.94% 12.70%


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