HDFC Bank Educational Loan Scheme

Posted Date: 18 Apr 2008 Resource Type: Articles/Knowledge Sharing Category: Educational Loans

Posted By: Bala Member Level: Diamond
Rating:

Points: 5

HDFC Bank Educational Loan Scheme

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!

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.

Fees & Charges for Educational Loan

Description of Charges

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

For more details, visit http://www.hdfcbank.com

Responses

Author: Shinu 31 May 2008

Member Level: Gold Points : 2

I was looking for information on loans. I have been interested in this and happy to read more about it.Thanks for the information

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