Educational Loans from HDFC

[Kalyan]

Educational Loans from HDFC

Features & Benefits

• Loans upto Rs.10 Lakhs for Education in India and upto Rs.20 Lakhs for Education abroad
• Attractive interest rates.
• Repayment to start 1 year after course completion / 6 months after obtaining employment (whichever is earlier)
• Loan available upto tenure of 7 years including moratorium period.
• Tax Benefits availaible under Section 80E of the IT Act *
• Hassle free loans and speedy approvals.
• Convenience of service at your doorstep.
• Loans available for other course related expenses also!

Credit Shield

In case of death or total permanent disability of the loanee,the loanee/nominee can avail of the Payment Protection Insurance (Credit Shield) which insures the principle outstandings on the loan upto a maximum of the loan amount.

Principle outsatnding is defined as the amount of loan outstanding (not including any arrears in payment or interest thereon) at the Date of Loss,having accounted for paymetns made and interest accruing as determined in the Policy.Hence,the amount covered does not include any principal added because of non - payment of EMI and also will not include interest/ accrued charges.*

Special privileges

• Loans disbursed directly to the educational institution.
• Loan to be released as per fee schedules of institutes.
• Exclusive Telegraphic Transfer facility availaible for courses abroad.
• Loans available for short duration/ job oriented courses also.

*Conditions Apply
* Premium will be charged for this product.A transaction fee of Rs.350 will also be deducted at the time of disbursal.Pls note that service tax @ 12.36% will also be charged on both the premium and the transaction fee.


Eligibility

• You need to be an Indian National.
• You should be aged between 16 - 35 yrs.
• Collateral is required for all loans greater than Rs. 7.5 Lakhs.
• All Loans require a co-applicant. For co-applicant eligibility.
• For complete details on eligible courses and other details, check ou the FAQs section of HDFC bank.
• For complete documentation visit www.hdfc.com

Please check with your nearest HDFC Office for the list of approved institutions.

Fees & Charges for Educational Loan

Loan Processing Charges - Upto a maximum 2% of the loan amount

Pre-payment charges - Upto 4% of the Principal Outstanding

No Due Certificate / No Objection Certificate (NOC) - Nil

Solvency Certificate - Not applicable

Charges for late payment of EMI - @ 24 % p.a. on amount outstanding from date of default

Credit assessment charges - Not applicable

Non standard repayment charges - Not applicable

Cheque swapping charges - Upto Rs. 500/- per event

Loan cancellation / re-booking charges / Re-scheduling - Upto Rs. 1000/-

Bounce Cheque Charges - Upto Rs. 450/- per Bouncing

Statement Charges (per statement) / Repayment Schedule - Upto Rs. 500/-

Legal / incidental charges - At actual