Education Loan for Indian Education Eligibility Criteria

For Student Loan eligibility, the applicant must be an Indian resident aged between 16 and 35 years. A co-applicant is mandatory for all full-time programs and can be a parent, guardian, spouse, or parent-in-law. The student must have secured admission to a higher education course in recognised institutions in India or abroad through an entrance test or merit-based selection process. The approved courses should lead to graduate or postgraduate degrees and PG diplomas conducted by colleges or universities recognised by UGC, Government, AICTE, AIBMS, ICMR, and other relevant authorities.

Yes, working individuals are also permitted to obtain Education Loans so long as they fulfill the general eligibility criteria requirements such as being the required age group and securing admission in recognised institutions to obtain a graduate, post-graduate, degree/diploma in one of the approved courses.

Student Loan eligibility criteria can be calculated by visiting the link -  https://www.hdfcbank.com/personal/tools-and-calculators/education-loan-calculator. This online tool helps you calculate your eligibility based on various criteria such as age, co-applicant details, and admission to recognised institutions. By entering the required information, you can get an accurate assessment of your eligibility for a Student Loan, ensuring a smoother application process.

To be eligible for an HDFC Bank education loan, you must be an Indian resident aged between 16 and 35 years. This age requirement applies at the time of loan application and helps ensure alignment with typical academic timelines for higher education.

You must have a co-applicant for all full-time education programs when applying for an HDFC Bank education loan. The co-applicant can be a parent, guardian, spouse, or parent-in-law, and must meet the financial requirements stipulated by the bank.

To apply for an HDFC Bank education loan, you must have secured admission to a recognised institution in India or abroad through an entrance examination or a merit-based selection process. Admission must be confirmed before the loan application is processed.

You can avail the HDFC Bank education loan for graduate, post-graduate degrees, and post-graduate diploma programs conducted by institutions approved by UGC, Government authorities, AICTE, AIBMS, ICMR, or other recognised bodies.

You can apply for an HDFC Bank education loan of up to ₹1.5 crore, depending on your course, institution, and collateral offered. The amount may vary based on the cost of education and the repayment capacity of the co-applicant.

You can avail an HDFC Bank education loan of up to ₹50 lakh without offering any collateral if you are admitted into select premier institutes approved by the bank. The list of such institutions is specified by HDFC Bank.

You are offered a flexible repayment period of up to 15 years for the HDFC Bank education loan. This tenure includes the moratorium period, making repayment manageable based on your future earning capacity.

Under the HDFC Bank education loan, the moratorium period refers to your course duration plus 1 year or 6 months after securing a job, whichever is earlier. During this time, repayment obligations may be partially or fully deferred.

The principal moratorium in the HDFC Bank education loan allows you to postpone only the repayment of the principal loan amount. During this period, you may still be required to pay the interest accrued on the disbursed amount.

An interest moratorium under the HDFC Bank education loan means you are not required to repay the principal or the interest during the specified moratorium period.