Candidates Eligibility Required for Education Loan
Candidates willing to apply for HDFC Bank education loan should be Indian Nationals. Applicants should be between 16-35 years of age. Collateral security is essential for loans above Rs. 7.5 lacs. A co-applicant is required if you are applying for full time courses.
The eligible courses for HDFC student loan are undergraduate and postgraduate courses in the fields of management, engineering, medicine, computer applications, fine arts and designing, hotel and hospitality, architecture and pure science. The other courses eligible for loans are distance learning programs, air hostess training courses, SAP, GNIIT and ERP. The institutes should be recognized by competent government body or even by AICTE.
Features and Benefits offered by HDFC Bank
- The maximum amount of loan granted for education in India is Rs.10 lacs and Rs. 20 lacs for education in abroad. The rate of interest offered is attractive.
- Repayment of loan commences either one year after the course ends or six months after one gets a job. It depends on which one is earlier to the other.
- Tenure of seven years is available for the loans and the customers also get tax benefit.
- The entire procedure is hassle free and approvals are given at the earliest.
- Candidates may also fill and submit the online application form available. The representatives of the bank get in touch with the applicants as soon as possible.
Expenses Covered by the Loans
- The expenses covered by HDFC Bank education loan includes money to be paid as college and hostel charges, examination fees, library and laboratory fees, refundable deposit, caution deposit and other charges.
- The loan also covers travel expenses for studying abroad, essential articles required for completing the course and other educational costs.