Results for:

hdfc education loan


Loan Faqs
Faq

Can I get another loan for further education? :

Second time Education Loan can be sanctioned to the same student borrower for completion of next higher course at the discretion of the Bank. A student who has taken the loan for a Bachelors degree can apply for another loan for the completion of Master's degree.
Faq

Who is eligible for an Education Loan ? :

Students who wish to pursue higher education .You need to be an Indian resident having secured admission in any of the bank's list of approved course or universities.
Faq

Is there any Age criteria for taking an Education Loan ? :

Anyone in the age group of 16-35 years can take this loan.
Faq

How is the loan amount disbursed? :

The fee for all years is normally disbursed to the college/institute directly by the bank. While applying for a loan, the bank will verify the tenure of the course and determine its total cost as applicable at that point of time. Every year, you are required to submit a form to the bank which...
Faq

Is there any documentation required post the sanction of the loan ? :

Progress reports to be provided at the time of every disbursement. Progress report includes mark sheets or a letter from the Institute, in case the mark sheets are not available while processing the fresh disbursement. The following documents have to be submitted post the sanction of the loan...
Faq

Which courses can I take an Education Loan for ? :

 Management Courses ( Full-Time + Part Time ) - PostGraduation Engineering Courses ( Government + Private ) - Graduation Medicine - Graducation + Post Graducation Masters in Computer Application ( MCA/MCM) - Post Graduation Online / Distance Learning courses. Wherever it is a...
Faq

What would be the tenure of the loan ? :

Maximum tenure of the loan can be 7 years including moratorium period.
Faq

What is the interest benefit that I get on the Educational Loan? :

Banks offer lower interest rates if you start repayment during the moratorium period. If you have opted for a floating rate loan, you cannot switch to a fixed rate option mid-course. However, you can transfer your loan from one bank to another, if you find a more attractive offer. Normally, one...
Faq

Do I get any tax benefit by taking an educational Loan? :

Once you start repaying the loan, you can deduct the interest amount from your total income while calculating tax. So, the effective interest rate on the loan works out to a lower amount for that particular year.  
Faq

Which documents have to be furnished to avail the loan? :

Declaration/Affidavit confirming that no loan has been availed from other Bank/Institution Completely filled Application Form with Photographs. Letter of admission from the Institute Letter from the Institute stating cost break up of the program (term-wise, year-wise) Marksheets from...
Faq

Do I have to pay part of the fees ? :

100% loan is available for select courses. Margin ranges from 5-15 % for courses in India & Abroad .Depends from Bank to Bank.


© 2014 LoanBoss.com | Accentiumccentium