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HDFC_EL

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Aarthi Kanagavel
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12 views

HDFC_EL

Uploaded by

Aarthi Kanagavel
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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HDFC Bank - Education Loan

Features:
• Zero Processing Fees
• Nil Margin up to Rs. 4 Lac, > Rs. 4 Lac: 5% for studies in India
• Nil Security for loan up to Rs. 7.5 Lac
• Easy and Simple Process with minimum documentation

Expenses considered for loan


Fees payable to the Institute / hostel Examination / Library / Laboratory Fees
Purchase of Books / Equipment / Instruments / Uniforms
Caution Deposit / Building fund / Purchase of computers / laptop if essential for completion
Refundable Deposit of course.
Quantum of loan : Max. upto 30 lac

Collateral / Security:
Upto 4 lac: No Security. Pa rents to be joint borrower(s).
4lac <=7.5lac: Suitable third party guarantee besides parent(s) executing the documents as joint
borrower(s).
Above 7.5lac: Tangible collateral security of suitable value acceptable to bank along with Pa rents to
be joint borrower(s)
Co-applicant details: Co-applicant should be Parent/Guardian/ Spouse (if married) /Parent-in-law (if
married) with Age criteria (Salaried 21-60yrs; Self Employed (SE) 21-65 yrs; Self Employed
Professional SEP 25-65 yrs)
Moratorium period: Moratorium tenor is course duration + 6 months or after getting a job,
whichever is earlier.
Re-payment Tenor:
Maximum up to 10 years for loans up to Rs. 7.50 Lacs, Up to 15 years for loans above Rs. 7.50 Lacs

Benefit to the customer: Avail Tax Benefits under section 80 (E) of Income Tax Act 1961 on
Interest Repayment of Education Loan
Rate of Interest:
Education Loan: 12.15%

Documentation
Application form duly signed by applicant and co-
For Salaried - Salary slips (latest 3 months
applicant(s)
Confirmed admission letter from the institute with For Self Employed - For SE / SEP * - ITR copy
details on fee structure and whether admission is (last 2 years), of the co- applicant along with
Balance Sheet, Profit and Loss statement,
under Merit /Management quota.
Computation of Income.
Mark-sheets of SSC, HSC, Graduation, upto latest
Co-applicant's updated bank statements for the
qualifications, along with degree certificate up to
last 6 months
latest qualifications.
KYC documents of the applicant and co-
Security documents as applicable
applicant(s)
All loans are subject to HDFC Bank Loan policy and guidelines.
Student can contact to the Nearest Branch Manager or Education Loan Officer of HDFC Bank
for the same.
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