HDFC Bank- Education Loan

HDFC Bank Indian Education Loan Scheme

Features & Benefits

  • High Loan Amounts
    Max loan up to Rs. 10 lakh for studies in India
  • Wide Range of Collateral Options
    Up to Rs. 4 lakh: No Security. Parents to be joint borrower(s)
    Above Rs. 7.5 lakh: Tangible collateral security of suitable value acceptable to bank along with parents to be joint borrower(s).
    Approved collateral securities include residential property, HDFC Bank Fixed Deposit, LIC, NSC or KVP Policy
  • Easy Loan Repayment
    Maximum tenure up to 10 years for loans up to Rs. 7.50 lakhs
    Maximum tenure up to 15 years for loans above Rs. 7.50 lakhs
  • Stay Protected
  • Quick and Easy Disbursals
  • Subsequent Disbursement
    You can also ask for trache disbursement by walking into the nearest Retail Assets Customer Service Centre (CSC).
  • 100% Transparency
    When you choose a loan from HDFC Bank, you can rest assured that there are no hidden costs. All charges are communicated up front in writing along with the loan quotation.
  • Tax Rebates
    You get tax benefits under section 80(E) of the Income Tax Act 1961*.

Eligibility Criteria

  • Resident Indians
  • Individuals between the ages of 16 and 35
  • For Loan amount 4lac <= 7.5lac: third party guarantee and parent(s) as joint borrower(s)
  • For loan amount > 7.5lac: Tangible collateral security along with Parents to be joint borrower(s)


The following documents are required along with your Education Loan for Indian Education application:

Category Applicant (Student)
Academic Institute admission letter with fee break-up
  SSC, HSC, Graduation mark sheets
KYC (Know Your Customer) Age proof
  Signature proof
  Identity proof
  Residence proof
Income Documents Salaried
  Latest 2 salary slips carrying date of joining details
  Previous 6 months bank statement of the salary account
  Self Employed
  ITR of previous 2 years along with computation of income
  Audited balance sheet of previous 2 years
  Bank statement of previous 6 months
  Proof of turnover (latest sales/service tax return)
  Self Employed – Professional
  ITR of previous 2 years along with computation of income
  Audited balance sheet/proft and loss statement of previous 2 years
  Bank statement of previous 6 months
  Proof of Qualification
Others Completed application form
  Latest photograph (signed across)
Documents – Post Sanction
Loan Agreement Completed Loan Agreement to be signed by applicant and co-applicant*
Repayment Instructions PDCs/ECS or SI Mandate
3 Security PDCs in case of ECS and SI mode of repayment
*Stamp duty to be paid by the customer as per the relevant state laws

Here are the documents you need to submit for subsequent disbursements at your nearest Retail Assets Customer Service Center (CSC)

  • Disbursement Request Letter for tranche disbursement duly signed by Customer
  • University Fee Demand Letter
  • Applicant's Academic Progress Report (Previous Semester)
  • Fresh repayment instructions in case of full Post Dated Cheque (PDC) or swap of existing repayment instructions.
  • Copy of the payment receipt of the previous disbursement / semester, issued by the Institute.

Rates & Fees

Enclosed below are HDFC Bank Education Loan for Indian Education Interest Rates & Charges

Here is an exhaustive list of all the fees and charges to be paid for the education loan:

Description of Charges Education Loan
Loan Processing Charges* Maximum up to 1% of the loan amount as applicable.
or Minimum Rs. 1000/- whichever is higher
Pre-payment charges* Upto 4% of the Outstanding Balance prepaid, if loan is foreclosed/ part perpaid during Moratorium (along with and in addition to due/accrued interest, if any, and other amounts due and/or payable by the Borrower to the Bank). No prepayment charges will be charged if loan is foreclosed / part prepaid any time after expiry of the Moratorium.
No Due Certificate / No Objection Certificate (NOC) Nil
Duplicate of No Dues Certificate/NOC Nil
Solvency Certificate Not applicable
Overdue EMI Interest @ 24 % p.a. on overdue/unpaid EMI amount outstanding from EMI due date
Credit assessment charges Not applicable
Non standard repayment charges Not applicable
Cheque / ACH swapping charges Rs. 500/- per instance
Duplicate Repayment Schedule Charges Rs. 200/-
Loan Re-Booking / Re-Scheduling Charges Upto Rs. 1000/-
EMI Return Charges* Rs.550/- per instance
Legal / incidental charges At actual
Stamp Duty & other statutory charges As per applicable laws of the state
Loan Cancellation Charges Nil cancellation charges. However, interest for the interim period (date of disbursement to date of cancellation), CBC/LPP charges as applicable would be charged and Stamp duty will be retained

*Terms & conditions apply

*Charges which are in nature of fees are EXCLUSIVE of GST. GST and other government levies, as applicable, would be charged additionally.

Rates offered to customer during the period of Oct'18 to Dec'18

9.20% 13.34% 12.10%

Annual Percentage Rate offered to customer during the period of Oct'18 to Dec'18

9.20% 13.64% 12.13%


You can take a Education Loan for Indian education on the following courses:

  • Management Courses (Full-Time) – Graduation + Post Graduation
  • Engineering Courses ( Government + Private ) - Graduation
  • Medicine - Graduation + Post Graduation
  • Masters in Computer Application ( MCA / MCM )
  • Architecture - Graduation + Post Graduation
  • Hotel and Hospitality - Graduation + Post Graduation
  • Agriculture - Graduation + Post Graduation
  • Pure Science - Graduation + Post Graduation

Yes a co applicant is required for all full time courses. Co-applicant could be Parent/ Guardian or Spouse/ Parent-in-law (if married)

Yes. A moratorium/repayment holiday is available for select courses.

You have the option of servicing simple interest during moratorium period. Simple interest will be calculated on the loan amount disbursed payable monthly.

HDFC Bank- Educational Loan