On your demand I will help you here to get the information about education loan facilities offer by HDFC bank for foreign education for students.

Here are the benefits of the Loan

Avail tax benefits under section 80 (E) of Income Tax Act 1961

Loans over 20 lakh also available

Up to 100% finance

Doorstep service

Easy EMIs

Flexible Loan Terms

Attractive rate of interest

Features of the Loan

Huge tax benefit under Sec 80 E of Income Tax Act of India

Opportunity for students to take up responsibility and pay for their education on their own

Preserve family savings (don’t break FDs, MFs etc and preserve funds for family contingency/emergencies)

EMI starts post course completion whereas through personal finance fee needs to be paid at the beginning of the course

Plan your finances in advance:
Apply for a loan even before admission confirmation to avoid last minute running around for funds. Also, use the loan sanction letter as a proof of funds.

An education loan from Credila can also cover tuition fee, living expense, books, travel, laptop etc.

Build a good credit history (helps in taking loans etc in the future also)

Quick and convenient loan processing with door step service

Here is the eligibility criteria to apply for the loan

You need to be a Indian resident

You should be aged between 16 - 35 years.

Collateral security may be required

Co-Applicant: Co-Applicant is required for all full time courses

Co-Applicant: Parents, spouse and siblings, father in-law, mother in-law, brother in-law, paternal/maternal uncle/aunt

Here are the documentation details required for the loan
Category
Applicant (Student)

Academic
Institute Admission Letter with fee break-up: USA Applicant: I-20 Form and UK Applicant: CAS Letter

SSC, HSC,
Graduation mark sheets and also mark sheet of any entrance exam like GRE/GMAT/TOFEL/IELTS

KYC(Know Your Customer)
Age Proof
Signature Proof
Identity Proof
Residence Proof
Signature verification-Student/Co-Applicant like: PAN Card, Passport, Credila’s completed signature Authentication form Authenticate by Bank or 10th/12th or equivalent mark sheet with signature for student below 21 years

Income Documents
Salaried
Latest 3 salary slips carrying date of joining details
Latest 6 months Bank Statement of the Salary Account
Latest 1 Year’s form 16 from employer along with 1 year income tax return
Self Employed
Last 2 Year ITR with Computation of Income
Last 2 Years Audited Balance Sheet
Last 8 Months Bank Statement
Proof of Turnover (Latest Sales / Service Tax Return)
Self Employed - Professional
Last 2 Year ITR with Computation of Income
Last 2 Years Audited Balance Sheet / P& L
Last 8 Months Bank Statement
Proof of Qualification

Others
Completed Application Form
Latest Photograph (Signed Across Any document for establishing relationship between student and the co-applicant viz. ration card, marriage certificate, birth certificate etc.

Interest rates and other charges of Loan
Description of Charges
Education Loan

Loan Processing Charges
Up to 1.5% of the sanctioned amount plus applicable any taxes thereon.

Pre-payment charges
Nil

No Due Certificate / No Objection Certificate (NOC)
Nil

Duplicate of No Dues Certificate/NOC
Nil

Solvency Certificate
Not applicable

Charges for late payment of EMI
@ 2 % per month of instalment ( MI/PMII)+ applicable taxes thereon

Credit assessment charges
Not applicable

Non standard repayment charges
Not applicable

Cheque or ECS mandate or Direct Debit swapping charges
Up to Rs.500/- per swap instance plus applicable taxes thereon

Cheque/ECS/Direct Debit Bouncing Charges
Rs. 400/- per dishonor of cheque or ECS 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

Loan cancellation charges
1% of the unveiled sanctioned loan amount + applicable any taxes thereon

Manual Collection Charges
Rs. 200/- per visit plus applicable any taxes thereon
Charges for Updating & Handling Loan Account As Per Customer Request Rs. 1,500/- plus applicable any taxes thereon

Document Storage & Retrieval Charges
For No Collateral: Rs. 2,000/- plus applicable any taxes thereon
For Collateral: Rs. 4,000/- plus applicable any taxes thereon


Address;-
HDFC Bank
HDFC Bank House, Senapati Bapat Marg
Lower Parel (W), Mumbai - 400 013.

Phone:-
91 - 22 - 6652 1000