Education Loan For Indian Education

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Education Loan For Indian Education

Types of Education Loan

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Choose the right Education Loan for your future.

Interest Rate for Educational
Loan for Indian Education

Starting From 9.50%

Terms & Conditions Apply*

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Loan Benefits & Features

Loan Benefits

Loan Amount  

  • Get up to ₹1.5 crore as loan.
  • Obtain up to ₹50 lakh for select institutes without any collateral. 

Interest Rate 

  • Get affordable funding for top-ranked institutions.

Processing & approval

  • Pay no hidden charges and experience a completely transparent process
  • Enjoy minimal and simple documentation
  • Loans will be directly disbursed to the institution based on its fee structure
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Convenience

  • EMI 
    Enjoy pocket-friendly EMIs
  • Tax Benefit 
    Get tax rebate on interest payment under section 80-E of the Income Tax Act. 
  • Insurance 
    Secure your loan with Credit Protect from HDFC Life. Premium will be included in the EMI.  
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Loan Details

Collateral Options 

  • You can use your Fixed Deposits, insurance policies, select Mutual Funds, or NSC/KVP as collateral for a loan.  

Tenure

  • Loan repayment tenor up-to 15 years 
  • “Moratorium” shall mean (1) Course Period + 1 year or 6 months after getting Job, whichever is earlier; (2) as stipulated by Bank (as mentioned in the Schedule Cum Key Fact sheet).
  • “Principal Moratorium” shall mean a Moratorium granted only for repayment of the principal amount of the Loan.
  • “Interest Moratorium” shall mean a Moratorium granted for repayment of the principal amount of the Loan as well as payment of the interest payable on the Loan.
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Fees & Charges

  • Enclosed below are HDFC Bank Education Loan for Indian Education Interest Rates & Charges.
  • Interest Rates: Starting from 10.50% p.a.
    Loan Processing Charges*: Nil Processing Fees upto loan amount ₹7,50,000/- else 1%
    Legal / incidental charges: At actual
  • Delayed instalment payment charge: @ 18% p.a. plus applicable government taxes on overdue instalment amount
    Cheque / ACH swapping charges: NIL
  • Click here to view the details of the fees and charges.
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Wondering if you’re eligible? 

Basic Requirements

  • Nationality: Indian
  • Age: Between 16 and 35 years.

Program and Admission Criteria

  • Co-applicant required for all full-time courses (co-applicant could be parent/guardian, or spouse/parent-in-law.
  • Admission secured via Entrance Test or Merit 
  • Courses: Graduate/PG degrees, diplomas by regonised UGC/ Government/ AICTE/ AIBMS/ ICMR etc.
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Documents required to get you started

KYC Documents

  • Age Proof
  • Signature Proof 
  • Identity Proof
  • Residence Proof

Income Documents

  • Latest 2 Salary Slips.
  • Latest 6 months' bank statement
  • Last 2 years' ITR for self employed
  • Last 2 years' audited balance sheet
  • Last 6 months' bank statement

Other Documents

  • Completed Application Form
  • Latest Photograph (Signed Across)
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More about Educational Loan for Indian Education

HDFC Bank provides education loans with flexible repayment options and competitive interest rates. Students can apply for loans to cover tuition fees, accommodation, and other educational expenses. The loan application process is streamlined, requiring minimal documentation and providing quick approval.

The following are some notable benefits of an Education Loan:

  • Competitive interest rates

  • Flexible repayment tenures

  • Minimal documentation required

  • Loan covers tuition, accommodation, and more

  • Quick and easy online application process

You can apply for an Education Loan for Indian Education by following these steps:

Step 1: Register on the online portal

Step 2: Fill the Common Education Loan Application Form (CELAF)

Step 3: Explore various loan schemes offered by different banks. (You can apply to a maximum of three banks through the portal)

Step 4: Track your application status online

*The (Most Important Terms and Conditions) for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.  

Frequently Asked Questions  

A Loan for Education can be a viable option to invest in your future, especially if it helps you pursue valuable opportunities. However, it's essential to consider factors like interest rates, repayment terms, and potential future income to ensure it's a manageable and beneficial financial decision for you.

To repay a Learning Loan, start by understanding your loan terms and establishing a budget. Make timely monthly payments to avoid penalties. Consider options like automatic payments and refinancing for better terms. Prioritise loan repayment while managing other expenses. Communicate with your education financing lender for any assistance or adjustments needed.

HDFC Bank's Higher Education Loans are not interest-free; they carry interest rates starting from 10.50% p.a. 

Secure your future—apply now for an education loan today!

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