Education Loan 

HDFC Bank Education Loan Interest Rates 2024

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HDFC Bank Education Loan: Compare and Choose Best Education Loans with lowest Current Interest Rates, Documents, Eligibility. With HDFC bank student education loans, pursue your dream higher studies without worrying for financial assistance. HDFC Bank provide student education loans for all Graduate, Post-Graduate, Engineering, Medical, MBA , Vocational Courses (Multi-Media, ERP) offered by recognized institutions in India.

Benefits of Educational Loan In India through HDFC Bank

✓ Avail tax benefits under section 80(E) of income tax Act 1961
✓ Flexible repayment options
✓ Option to avail insurance cover for your loan
✓ Repayment Period Upto 15 Years

What are the eligibility criteria?

✓ You should be aged between 16 – 35 years
✓ loan of more than Rs. 7.5 Lakh, a collateral security will be required.
✓ Loan amount of Below No need for Collateral Security
✓ A co-applicant is mandatory for all full time programs. Co-applicant could be Parent/ Guardian or Spouse (if married) / Parent-in-law (if married).

Student should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process
Approved courses leading to graduate/ post graduate degree and P G diplomas conducted by recognized colleges/ universities recognized by UGC/ Government/ AICTE/ AIBMS/ ICMR etc.

Features & Benefits –

  • Student Loans Upto Rs. 10 Lakhs for Education In India
  • Avail loans of up to Rs. 50 lakh without collateral for select Institutes
  • Get up to Rs.150 lakhs as an education loan
  • You can get loan against Residential Property
  • You can get loan against LIC/NSC/KVP Policies
  • Repayment to start 1 year after course completion / 6 months after obtaining employment (whichever is earlier)
  • 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 towards your education loan.

Eligibility
Service At Your Door Step You need to be a Resident Indian
Loans disbursed directly to the educational institution as Per the Fee Schdule. You should be aged between 16 – 35 yrs.
Insurance Protection from HDFC ERGO Collateral is required for all loans greater than Rs. 7.5 Lakhs.
Gateway To Other Banking Products And Services. All Loans require a co-applicant. For co-applicant eligibility
Savings Account For complete documentation click here
Click to Know – Fees and Charges

Get your loan insured by – Credit Protect from HDFC Life whats more, the Insurance amount will be a part of loan amount.

HDFC Bank Education Loan Interest Rates 2024

Loan Processing Charges* Nil Processing fees for Domestic Cases Upto 1% for Abroad/Part Time/Special Initiative cases or Minimum Rs. 1000/- whichever is higher.
Legal / incidental charges At actual
Stamp Duty & other statutory charges As per applicable laws of the state
Min APR Max APR Avg APR
8.18% 13.73% 11.14%

Documents Required for HDFC Bank Education Loan

Description Documents 
Academic Institute Admission Letter with Fee break-up
SSC, HSC, Graduation Marksheet
KYC Age Proof
Signature Proof
Identity Proof
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)
Post-Sanction
Description Documents required for subsequent
Loan Agreement Completed Loan Agreement to be Signed by Applicant and Co-applicant *
Repayment Instructions PDCs /ACH or SI Mandate
3 Security PDCs in case of ACH and SI mode of repayment
* Stamp duty to be paid by the customer as per the relevant state laws

Documents subsequent disbursements at your nearest Retail Assets Customer Service Center (CSC).

  • Disbursement Request Letter for tranche disbursement duly signed by the customer
  • University Fee Demand Letter
  • Applicant’s Academic Progress Report (Previous Semester)
  • Fresh repayment instructions in case of full Post Dated Cheque (PDC) or swap of existing repayment instructions.
  • Copy of the payment receipt of the previous disbursement / semester, issued by the Institute.

Other Available Products from HDFC Bank

Source: HDFC Bank Official Website

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