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HDFC Study Loan for International Students



HDFC Study Loan for International Students:  Every parent wants to provide their kids with the best education possible. But it is become more difficult to give your children the greatest education possible in the modern economy, where educational expenditures are rising.

A good strategy to deal with the financial difficulties keeping your child from pursuing better educational chances is to take out college loans. You can pay for higher education with the aid of these loans without burning a hole in your wallet.

There are many peoples who search online for education loans for studies abroad, education loans for abroad, SBI education loans for abroad, and student loans for international students, etc.

HDFC Study Loan for International Students

These loans are intended to pay for all costs associated with studying, including entrance, tuition, exams, health insurance, travel, and other equipment. Various banks and organizations offer a variety of different education loans.

HDFC Education Loan is one such student loan. If you’re looking for ways to get past financial obstacles that prevent you from pursuing higher education, this useful blog will walk you through the main benefits and features of the HDFC Education Loan and HDFC Credila Education Loan.

What is an Education Loan?

A student pursuing higher education in India or abroad might apply for an education loan. After the student finishes their studies, the loan repayment process starts, but they are given a grace period of six months to look for or accept a job. You must decide how to repay the loan because the interest rate you choose will affect the payback amount. That is, whether you want to start making payments while the moratorium is still in effect or after it has.

The moratorium period is equivalent to the time you spent in education plus six months or a year to look for work. You are only expected to pay back the loan when this period has elapsed. When the money is disbursed, the loan interest starts to build, so by the time you graduate; you will owe a sizable sum.

The second option is for your parents or guardians to begin repaying the loan while it is still subject to the moratorium period and interest is still simple to compute.. The amount of money you owe once you graduate is significantly reduced with this strategy.

HDFC Education Loan

Indian students applying for admission to institutions in India and abroad can choose from various educational loans offered by the Housing Development Finance Corporation Limited (HDFC). To eliminate the issue of uncertainty and security, HDFC Education Loan makes a commitment of complete openness to the applicants before issuing the loans. Since it has been the market leader for over 20 years, HDFC has built a significant clientele and solid reputation.

Fast disbursement, simple documentation, bigger loan amounts, and affordable rates and fees are all features of school loans. The students cover all significant costs spent throughout the length of their courses.

Advantages of HDFC Bank Education Loan:

The following is a summary of some advantages of applying for a student loan with HDFC Bank.

  • Low-interest rate
  • Hassle-free application process
  • Less paperwork
  • Faster Disbursal
  • The following two options are available for HDFC Education Loans:

HDFC Bank Education Loan

Students who want to pursue higher education in institutions accredited by the UGC, AIBMS, ICMR, and AICTE in various disciplines can apply for this HDFC Education Loan. With each loan scheme, HDFC provides excellent financial solutions with various incentives, quick loan processing, and simple documentation requirements. Additionally, every student loan is created to meet the needs of numerous academic institutions and programs.

Some of the main advantages of an HDFC Education Loan for Indian Education are listed below:

  • For loans up to Rs. 7.5 lakh, there is no need to present any security in exchange for the loan. Any loan amount beyond that will require collateral security, which can be residential real estate, an HDFC Bank Fix Deposit, an insurance policy, or any other legal instrument.
  • Borrowers can extend their loan repayment terms up to 10 years for loans up to Rs. 7.5 lakhs, and up to 15 years for loans over this level.
  • Processing fees for applicants must equal at least 1% of the entire loan amount.
  • For loans up to 4 lakh INR, applicants are not required to provide any margin money; however, a margin of 5% is needed for loans over this.
  • If the school loan is pre-closed within the monitoring term, prepayment charges of up to 4% of the outstanding balance must be paid.
  • The education loans obtained to pursue higher education in India will be paid directly to the institutions following the specified fee structure.
  • The loan also offers students additional life insurance protection under insurance coverage.

HDFC Education Loan for Abroad:

In a partnership with Credila, HDFC Bank provides students who want to study abroad for various degrees with access to specialized loan programs at over 4000 universities in 36 countries. To help people who desire to pursue their chosen field of study overseas, HDFC offers excellent interest rates, flexible repayment options, and long loan terms.

To help students organize their finances and increase their chances of admission, this program also allows them to have loans approved before their admissions are finalized.

HDFC Bank Education Loan for Foreign Education:

For students studying abroad, the HDFC Education Loan covers travel costs as well as costs like hostel fees, book fees, and tuition fees. Processing fees for borrowers are 1.5% of the entire loan amount. The program provides loans up to Rs 20 lakhs and covers up to 100% of the cost of schooling.

Applicants must pay 4% of the principal as prepayment penalties if the education loan is closed early, within 12 months of the agreement date. The institutions where the students have been admitted to receive direct payment for the tuition and housing costs. Foreign student education loans must be repaid in monthly installments.

I hope you read out all points related to education loans for abroad studies without collateral, education loans for abroad studies by the Indian government, study loans for abroad, and student loans for study abroad, etc., from this article.

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