The HDFC Bank Education Loan for Foreign Education Rates and Fees are as follows:
| Description of Services | Charges in Rupees |
|---|---|
| Pre-payment charges | Nil |
| No Objection Certificate (NOC) | Nil |
| Delayed Payment Charges * | 2% per month of installment (MI/PMII) plus applicable taxes thereon |
| Statutory CERSAI charges | As per charges levied by CERSAI. |
| Cheque or ACH mandate or Direct Debit swapping charges* | Up to ₹500 per swap instance plus applicable taxes thereon |
| Cheque/ACH/Direct Debit Bouncing Charges* | ₹400 per dishonor of cheque or ACH or Direct Debit return per presentation plus applicable any taxes thereon |
| Legal / incidental charges | At actual |
| Stamp Duty and other statutory charges | As per applicable laws of the state |
| Manual Collection Charges* | ₹200 per visit plus applicable any taxes thereon |
| Charges for Updating & Handling Loan Account As Per Customer Request* | ₹1,500 plus applicable any taxes thereon |
| Origination Fees | 1.5% + taxes of the sanction amount and is non-refundable |
| Education Loan Amount (₹) | ROI | Interest Amount (₹) | Yearly Tax Savings (₹) | Effective Rate of Interest |
|---|---|---|---|---|
| 2 lakh | 12.50% | 25,000 | 7,725 | 8.64% |
| 4 lakh | 12.50% | 50,000 | 15,450 | 8.64% |
| 6 lakh | 12.50% | 75,000 | 23,175 | 8.64% |
| 10 lakh | 12.50% | 1,25,000 | 38,625 | 8.64% |
| 15 lakh | 12.50% | 187,500 | 57,938 | 8.64% |
| 20 lakh | 12.50% | 250,000 | 77,250 | 8.64% |
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*Terms & conditions apply and may change conditionally. Credit at the sole discretion of HDFC Credila Financial Services Limited (formerly known as HDFC Credila Financial Services Private Limited)
*Charges which are in the nature of fees are exclusive of GST.
*GST and other government levies, as applicable, would be charged additionally.
For international education loans, HDFC Bank charges a fee of ₹1,500 (plus applicable taxes) for updating and handling the Loan Account. However, there are no pre-payment and NOC fees. For the exhaustive list of charges, check the table above. You should note that Government taxes and other statutory charges would also be applicable.
For domestic cases, the processing fee is nil. For international, part-time, or special initiative cases, the fee is up to 1%, or a minimum of ₹1,000, whichever is higher.
The average application fee for a Foreign Education Loan from HDFC Bank is up to 1% of the loan amount for international, part-time, or special initiative cases, with a minimum fee of ₹1,000, whichever is higher. For domestic cases, there is no application fee.
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