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HDFC BANK EDUCATION LOAN FOR FOREIGN EDUCATION 

About HDFC Bank Education Loan for Foreign Education :

The Housing Development Financing Corporation Limited (HDFC) was the first bank to receive an ‘in principle’ approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. The bank was incorporated in August 1994 in the name of ‘HDFC Bank Pvt. Limited’, with its registered office in Mumbai. India.

When it comes to offering student-friendly loans, HDFC Bank education loans are considered the best due to its transparency and flexible tenures. One can avail loan for pursuing higher studies in whatever course they like and the education loans come with competitive interest rates. The bank currently offers education loans worth Rs.35 lakhs for pursuing higher studies in foreign only. On the other hand, HDFC Bank education loan for foreign education charged the interest rates vary from 9% per annum to 14% per annum, but it will depend on the loan amount and tenure. The tenure lasts up to a maximum of fifteen years.

Benefits of HDFC Bank Education Loan for Foreign Education :

1. Repayment tenure can go up to 15 years 

2. Minimal and simple documentation

3. No hidden charges are required

4. Entire cost of reduction can be covered with collateral

5. Co-applicant is mandatory

6. Avail preferential interest rate

Documents required for HDFC Bank Education Loan for Foreign Education :

1. Letter of admission

2. Filled in Loan Application Form

3. 2 passport size photographs

4. Statement of cost of study

5. PAN Card of the student and the parent/guardian

6. Aadhaar Card of the student and the parent/guardian

7. Id proof  : Driving license, passport, aadhaar card, ant photo identity

8. Address proof : Driving license, passport, electricity bill, telephone bill

9. Student/co-borrower/guarantor’s bank account statement for last 6 months.

10. IT Return/ IT assessment order, of previous 2 years of parent/ guardian/ other co-borrower(If IT payee)

11. Brief statement of assets & liabilities of parent/ guardian/ other co-borrower

12. Income proof : Salary slip, form 16 of parent/ guardian/ other co-borrower

Eligibility criteria for HDFC Bank Education Loan for Foreign Education :

1. Can be availed by an Indian resident between 16 years and 35 years.

2. Co- applicant is mandatory 

3. Applicants should be secured admission with the education institutions

Interest rate & Fees and charges of HDFC Bank Education Loan for Foreign Education :

TYPE 

CHARGES

Interest Rate

9% to 14% p.a.

Loan amount

Rs.1 lakh to Rs.35 lakh

Processing fee

Up to 1.5% of the sanctioned amount plus applicable taxes thereon

Prepayment charges

Nil

No due certificate / No Objection Certificate charges 

Nil

Duplicate charges of no due certificate / No Objection Certificate

Nil

Charges of late payment of EMI

@2% per month of installment plus applicable taxes thereon

Cheque of ACH mandate or direct debit swapping charges

Up to Rs.500/- per swap instance plus applicable taxes thereon

Cheque/ACH/Direct Debit Bouncing Charges

Rs. 400/- per dishonor of cheque or ACH or Direct Debit return per presentation plus applicable any taxes thereon

Legal/ incidental charges

At actual

Manual collection charges

Rs.200/- per visit plus applicable any taxes thereon

Loan cancellation charges

1% of the unveiled sanctioned loan amount plus applicable taxes

Charges from updating & handling loan account as per customer request

Rs.1500/-  per instance plus applicable taxes

Document storage and retrieval charges

For No collateral : rs.2000/- plus applicable  taxes thereon

For collateral : Rs.4000/- plus applicable tax thereon

 

Compare other bank interest rate :

BANKS

INTEREST RATE

AXIS Bank Education Loan

13.70% to 15.20%

HDFC Bank Education Loan for Indian Education

9.55% to 13.50%

HDFC Bank Education Loan for Foreign Education

9% to 14%

Kotak Mahindra Bank Education Loan 

11.5% to 24%

IDBI Bank Education Loan

8.30% to 10.41%

Indian Bank Education Loan

Starts from 8.50%

RBL Bank Education Loan

14.15% to 16.15%

Bank of Baroda Education Loan

7.50% to 9.75%

Bank of India Education Loan

7.25% to 9.75%

Canara Bank Education Loan

11.35%

Standard Chartered Bank Education Loan

10.99%

SBI Student Loan Scheme

9.30%

SBI Skill Loan Scheme

8.80%

SBI Scholar Loan Scheme

8.30% to 9.95%

SBI Takeover of Education Loan

9.30%

SBI Global Ed-Vantage

9.30%

Expenses covered under HDFC Bank Education Loan for Foreign Education :

1. Tuition fees 

2. Cost of books, uniforms and stationeries

3. Cost of laptop or computer ( If required)

4. Examination Form

5. Library/ Laboratory fees

6. Hostel fee

7. Travel expenses ( for Abroad)

8. Miscellaneous Expenses

How to apply for HDFC Bank Education Loan for Foreign Education:

1. Offline Method : By visiting the nearest bank branch.

2. Online Method : 

  • Visit the official website of loan.

  • Click on apply now

  • Fill out the form with essential details.

  • Upload the mandatory documents required

  • Submit the form and take out a print out of the applications 

  • Visit the bank branch for further formalities.

Other products of HDFC Bank :

1. HDFC Bank Car Loan

2. HDFC Bank Business Loan 

3. HDFC Bank Credit Card

4. HDFC Bank EMI Calculator

How to contact for HDFC Bank Education Loan :

1. By Customer Care Contact Number : 01416160616

2. By Customer Care Email-ID : loansupport@hdfcbank.com

Financials products offered by Bank :

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN

HOME LOAN

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

HDFC Bank Education Loan for Foreign Education Frequently Asked Questions :

1. What is the maximum tenure period of HDFC Bank Education Loan for Foreign Education?

The maximum tenure period is 15 years to apply for HDFC Bank Education Loan for Foreign Education.

2. How much interest rate is charged by HDFC Bank Education Loan for Foreign Education?

The interest rate charged by HDFC Bank Education Loan for Foreign Education is 9% to 14% p.a.

3. Is processing fees charged to apply for HDFC Bank Education Loan for Foreign Education?

Yes, maximum upto 1.5% of the sanctioned amount plus applicable taxes thereon processing fee is charged to apply for HDFC Bank Education Loan for Foreign Education.

4. How to apply for HDFC Bank Education Loan?

You can apply online or offline both for HDFC Bank Education Loan.

5. Is age an important factor to get a HDFC Bank Education Loan for Foreign Education?

Yes, age is an important factor to get a HDFC Bank Education Loan for Foreign Education and the applicant age should be at least 16 years to 35 years 

Last Updated on : 10/Aug/2020

Know More About

Hdfc Bank Education Loan For Foreign Education

You're eligible for a Hdfc Bank Education Loan For Foreign Education if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Education Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Hdfc Bank Education Loan For Foreign Education Interest Rates

Updated on 25 Nov 2017

Hdfc Bank Education Loan For Foreign Education Details
Interest Rate (Monthly reducing balance) 9% - 14%
Processing Fees Up to 1.5% of the sanctioned amount plus applicable taxes thereon
Loan Tenure 1 year to 15 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Education Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959