Education Loan for Indian Education

Pursue your dream education course in India and abroad with Education Loan

Features of Education Loans for education in India

  • Service at your doorstep
  • Preferential rates for top ranked universities / institutes

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Benefits of Educational Loan In India

  • Avail tax benefits under section 80(E) of income tax Act 1961
  • Flexible repayment options
  • Option to avail insurance cover for your loan

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Contact Number
6160 6161

Why take an Education Loan from HDFC Bank?

Whatever be your need we have a loan for you. Over the years we have won the trust of our customers and have become market leader in loan products.

Enjoy triple benefits when you take an Education Loan from HDFC Bank:

  • Faster loan - Our loan sanction and disbursal is one of the quickest with easy documentation and doorstep service.
  • Competitive pricing – Our loan rates and charges are very attractive
  • Transparency – All charges are communicated up front in writing along with the loan quotation

Features and Benefits of Education Loan for Indian Education

Focus on pursuing the course of your choice and securing a great education. Leave the hassles of documentation and finances of your Education Loan for Indian education to us. Here are a few features of the loan:

If this wasn't enough for you, check out some more special privileges that you will get as a HDFC customer for an Education Loan for Indian Education:

  • We will provide services at your doorstep.
  • Loans will be directly disbursed to the educational institution as per the fee structure.
  • Avail access to some other great products and services that we offer. Get a Savings Account with us right away!
  • Thinking about insurance? As our customer for a student loan, you can also get a special privilege of choosing the Insurance Protection - Credit Protect from HDFC LIFE.

What are the eligibility criteria for securing Education Loan for Indian Education?

Check out more details on eligibility and courses on offer in our FAQ section.

Here is an exhaustive list of documents that you will need for the Education Loan:

CategoryApplicant (Student)
Academic Institute Admission Letter with Fee break-up
  SSC,HSC,Graduation Marksheets
KYC(Know Your Customer) 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)
Documentation ( Post Sanction )
Is there any documentation required post the sanction of the loan?
Category Applicant ( Student )
Loan Agreement Completed Loan Agreement to be Signed by Applicant and Co-applicant *
Repayment Instructions
PDCs / ECS or SI Mandate
3 Security PDCs in case of ECS and SI mode of repayment
* Stamp duty to be paid by the customer as per the relevant state laws.

Here are the documents you need to submit for subsequent disbursements:

Please e-mail us at eduloan[at]hdfcbank[dot]com

Education Loan for Indian Education Interest Rates & Charges

Enclosed below are HDFC Bank Education Loan for Indian Education Interest Rates & Charges

Here is an exhaustive list of all the fees and charges to be paid for the education loan:

Description of ChargesEducation Loan
Loan Processing Charges* Maximum up to 1% of the loan amount as applicable.
Pre-payment charges* Upto 4% of the Outstanding Balance prepaid, if loan is foreclosed/ part perpaid during Moratorium (along with and in addition to due/accrued interest, if any, and other amounts due and/or payable by the Borrower to the Bank). No prepayment charges will be charged if loan is foreclosed / part prepaid any time after expiry of the Moratorium.
No Due Certificate / No Objection Certificate (NOC) Nil
Duplicate of No Dues Certificate/NOC Nil
Solvency Certificate Not applicable
Charges for late payment of EMI @ 24 % p.a. on overdue/unpaid EMI amount outstanding from EMI due date
Credit assessment charges Not applicable
Non standard repayment charges Not applicable
Cheque / ECS swapping charges Rs. 500/- per instance
Duplicate Repayment Schedule Charges Rs. 200/-
Loan Re-Booking / Re-Scheduling Charges Upto Rs. 1000/-
EMI Return Charges* Rs.550/- per instance
Legal / incidental charges At actual
Stamp Duty & other statutory charges As per applicable laws of the state
Loan Cancellation Charges
Nil cancellation charges. However, interest for the interim period (date of disbursement to date of cancellation), CBC/LPP charges as applicable would be charged and Stamp duty will be retained

*Terms & conditions apply

*Charges which are in nature of fees are EXCLUSIVE of service tax. Service tax and other government levies, as applicable, would be charged additionally.

Rates offered to customer during the period of January'16 to March'16

10.00% 14.75% 12.58%

Annual Percentage Rate offered to customer during the period of January'16 to March'16

10.00% 15.08%


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