HDFC Bank Education Loan
The eligible candidate can secure education loan if he / she is studying in one of the recognized institute of India.
The eligible candidate can secure education loan if he / she is studying in one of the recognized institute of India.
The eligible candidate can secure education loan if he / she is studying in one of the recognized institute of India.The students who want to study in foreign can also take loan from HDFC bank who has secured admission in some of the reputed university abroad.The borrower is not supposed to worry for repayment during the course of study because the repayment time starts one year later the completion of course or 6 months after doing the job and whichever of above is earlier. This period is called the moratorium period. The repayment moratorium is same for study in India or abroad.
There are some specific courses from the approved institutes like engineering, MBA, architecture, medicine, IT pure science and others for which the candidate can apply for an education loan.
For courses like MS, MBA and MCA from any of the reputed college / university the bank grants loan to the candidate.
The expenses include all the basic necessary things for the student that the university prescribe necessary which may include a computer, books, fee etc.
The eligible candidate can secure education loan if he / she is studying in one of the recognized institute of India.The students who want to study in foreign can also take loan from HDFC bank who has secured admission in some of the reputed university abroad.The borrower is not supposed to worry for repayment during the course of study because the repayment time starts one year later the completion of course or 6 months after doing the job and whichever of above is earlier. This period is called the moratorium period. The repayment moratorium is same for study in India or abroad.
The student loan amount is 10 Lac if third party security is provided and is 7.5 Lac for no third party security. The limit is 20 Lac for education out of India.
10-12.61 % Interest rate, Interest rebate is given under the income tax act 1961 which may subject to change.
Maximum up to 1% of the loan amount for India while 1.5% with taxes for Abroad.
Tenure for the loan is usually of 10 years for 7.50 lacs and 15 years for more than 7.50 lacs which includes the moratorium period as well.
Collateral security is needed to be provided for loans more than 7.5 Lac.
No margin is provided.
The applicant should present the loan agreement signed by the applicant and co-applicant and the following.
There are many documents that are needed by the applicant to be submitted as he / she progresses in the course so that next year as he / she require the next fee disbursement it would be easy.