HDFC Education Loan

Interest Rate	Grace Period	Margin Money
8.64% – 9.55%	Course Period + 6 Months – 1 Year	15%

Table of Contents:

1. Types of Education Loans in HDFC Bank
2. HDFC Bank Education Loan for Abroad
3. HDFC Bank Education Loans for Studying Abroad: Country-Wise Guide
4. HDFC Bank Education Loan Interest Rate
5. HDFC Bank Education Loan Without Collateral
6. Documents Required for HDFC Bank Education Loan
7. Frequently Asked Questions

An education loan for studying abroad can help students pursue higher education in a foreign country without any financial worries. HDFC bank education loan is your one-stop solution to your dream of studying abroad. HDFC offers a range of education loan options tailored to help students achieve their dreams.

Types of Education Loans in HDFC Bank

HDFC education loans are offered to students pursuing studies in India and abroad. The types of education loans offered by HDFC bank are:

Type of Loan	Features
Education Loan for Indian Education	Loans up to INR 150 lakhs Preferential interest rates for top-ranked colleges and universities Loan repayment of up to 15 years
Education Loan for Foreign Education	Loans offered for over 2100 universities, 950 courses across 35+ countries Covers the entire cost of education Floating rate of interest linked to HDFC Credila’s CBLR

HDFC Bank Education Loan for Abroad

HDFC Credila offers education loans for study abroad covering the entire cost of education for the students. The key highlights for the HDFC Credila education loan are as follows:

Particulars	Details
Loan Amount	The entire cost of education with collateral INR 45 lakhs for unsecured loan
Repayment	14 years, including the Moratorium period
Collateral	Moveable – fixed deposit with HDFC bank Immoveable Collateral – flat, house, bungalow, land (non-agricultural), shop, etc
Eligibility	Borrower and co-applicant must be an Indian citizen Ability to offer collateral The co-borrower must have a bank account in India with cheque writing facilities Must have confirmed admission before disbursement
Costs Covered	Living & hostel expenses – Up to 100% covered Travel expenses – One economy class return ticket (India to study country) Examination fees Library / Laboratory fees Books & study materials Computer / Laptop purchase

HDFC Bank Education Loans for Studying Abroad: Country-Wise Guide

HDFC Bank covers the entire cost of education with no upper limit if you have collateral. Without collateral, the bank offers loan up to INR 45 lakhs. Let’s look at the country-wise details for HDFC Bank for abroad education:

• Australia: HDFC Bank loan for study in Australia offers students a loan for students pursuing studies in Australian universities without and with collateral (however, the amount may vary). 
• Canada: For students planning to study in Canada, the HDFC Bank loan for study in Canada offers loan that covers expenses such as tuition, accommodation, and travel.
• UK: HDFC Bank loan for study in UK is for Indian students pursuing education in the UK. Students can get loan up to INR 45 lakhs (without collateral) depending on their university.
• US: HDFC Bank loan for study in USA covers several expenses and support courses in accredited US universities. The loan amount may vary depending on the course and university. 

HDFC Bank Education Loan Interest Rate

HDFC Bank offers education loans on interest rates from 8.64% to 9.55%. However, the interest rate may vary based on factors such as the course, university, and the applicant’s profile. The key highlights of HDFC bank education loan interest rate is as follows:

Interest Rate	8.64% – 9.55%
Calculation	The interest rate will be calculated using the Simple Interest Rate
Floating Interest	Floating rate of interest to be (HDFC Credila’s CBLR + Spread)% per annum
Determination of Spread	Student’s academic background Employability of selected course, college, and country Financial strength of co-borrower Loan repayment capability Credit history Collateral (offered or not) Serviceability of loan through HDFC Credila The cost associated with underwriting and servicing the loan

HDFC Bank Education Loan Without Collateral

HDFC Bank offers education loans without collateral for students. The loan amount can vary depending on the institution, course of study, and other eligibility criteria. The features of HDFC Bank education loan without collateral are:

• Loan Amount: Up to INR 45 lakhs without collateral
• Interest Rates: Competitive based on course, university, and country
• Repayment: Up to 14 years, including the moratorium period
• Additional Benefits: Tax benefits under Section 80(E)

Documents Required for HDFC Bank Education Loan

While applying for a loan, ensure you have all the required documents for a smooth process beforehand. HDFC Credila education loan requirements are as follows:

Duly filled and signed application form	2 passport-size photographs of Applicant and co-applicant
Photo ID	Applicant and co-applicant (any one of the following) PAN Card Passport Driving License Aadhar Card Voter’s ID
Address Proof	Applicant and co-applicant (any one of the following) Passport Driving License Aadhar Card Voter’s ID
Academics of Student	Mark sheet / Certificate of 12th Mark sheet / Certificate of Subsequent Years of Education e.g. BE, BCom, BSc, etc. Mark sheets of GRE / GMAT / TOEFL / IELTS, etc. (If applicable) Scholarship documents (if applicable)
Admission Proof	Printed admission letter from the institute (if available)
Last 8 Months Bank Statements of Co-Applicant	If more than 1 bank account, provide copies of all
Income Proof of Co-Applicant	If a salaried employee: The last 3 salary slips or salary certificates on the Employer’s letterhead Last 2 years Form 16 from Employer or last 2 years ITR Any other proof not mentioned above If self-employed or professional: Last 2 years ITR and certified financial statements or provisional financial statements duly certified Proof of office Any other proof not mentioned above
If Collateral (Immovable Property)	Property title deed 7 / 12 extracts in case of land Registered sale agreement along with society share certificate Original registration receipt for the above agreement Allotment letter issued by Municipal Corporation / Authorized Govt. authority (e.g., MHADA, CIDCO, HUDA, DDA, JDA, GIDC, etc.) Previous chain of sale deed (to establish title) Latest maintenance bill, along with receipts (issued by the builder/society) Latest property tax bill, along with receipts NOC for a mortgage from society/builder Approved building plan Encumbrance certificate (as of date)

Frequently Asked Questions

What is the HDFC Credila education loan calculator?

The HDFC Credila education loan calculator is an online tool that helps students and parents estimate their loan eligibility, EMI, and repayment schedule.

What is the processing fee for an HDFC Credila education loan?

HDFC Credila charges a processing fee ranging from 1% to 1.25% of the sanctioned loan amount, depending on the loan amount and applicant profile.

How long does it take for HDFC Credila to approve an education loan?

It typically takes 7 to 15 working days to process your education loan application in HDFC Credila. However, the time may vary depending on your requirements, loan amount, and documentation.

Can I get a tax benefit on an education loan from HDFC Credila?

You can get tax benefits under Section 80(E) on your education loan from HDFC Credila. You can reduce your tax burden while funding your education.

Can I transfer my existing education loan to HDFC Credila?

You can transfer your existing education loan to HDFC Credila. However, you must provide all the details of your existing education loan.