HDFC Bank Education Loans
Housing Development Finance Corporation Limited (HDFC Bank) commenced as a scheduled commercial bank in the year 1995. Among its various financial services, it offers educational loans to students willing to pursue higher education in India or abroad.
Candidates Eligibility Required for Education Loan
Candidates, to avail the benefit of loan service, should be Indian Nationals within the age group of 16 − 35 years. Collateral security is essential for loans above Rs. 7.5 lacs. A co-applicant is required if you are applying for full time courses.
Courses such as undergraduate and postgraduate courses in the fields of management, engineering, medicine, computer applications, fine arts and designing, hotel and hospitality, architecture and pure science are considered eligible for loan service. The other courses eligible for loans are distance learning programs, air hostess training courses, SAP, GNIIT and ERP. The institutes should be recognized by competent government body or even by AICTE.
Features and Benefits offered by HDFC Bank
The maximum amount of loan granted for education in India is Rs. 10 lacs and it amounts to Rs. 20 lacs for education in abroad with attractive rates of interest.
Repayment of loan commences either one year after the course ends or six months after the candidate gets a job, whichever is earlier.
Repayment of loan amount is to be done within seven years. Tax benefit is available to customers.
The entire procedure is hassle free and approvals are given at the earliest.
Candidates may also fill and submit the online application form available. The representatives of the bank get in touch with the applicants as soon as possible.
Expenses Covered by the Loans
The expenses covered by HDFC Bank education loan includes money to be paid as college and hostel charges, examination fees, library and laboratory fees, refundable deposit, caution deposit and other charges.
The loan also covers travel expenses for studying abroad, essential articles required for completing the course and other educational costs.
In order to learn more about moratorium period and interest rates, browse through HDFC Bank