HDFC Education Loans PDF Print E-mail
Quite a few private banks offer loans to students looking for a source to finance their education. HDFC bank is just one of them. Although there is not much to choose from, the bank does cover a large chunk of the student population.






Can I get a loan?

HDFC bank will provide you a loan only if you are an Indian national aged between 16 - 35 years. Every loan application will require a co-applicant. Co-applicants can be salaried individuals, Self employed professionals and individuals as well as Private companies and partnership firms. Co-applicantstoo, have to fulfil the banks criteria. For eg, in case of individuals, the co-applicant should be atleast 21 years of age. Apart from co-applicants, loans greater than 7.5 lakhs require a collateral, such as a fixed deposit or property.

The bank covers a wide range of courses while providing loans . Following is a complete list of these courses :
  • 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.
  • Fine Arts and Designing - Graduation + Post Graduation
  • Architecture - Graduation
  • Hotel and Hospitality - Graduation + Post Graduation
  • Agriculture - Post Graduation
  • Pure Science - Graduation + Post Graduation
  • B.A./B.Com/M.A./M.Com
  • Courses such as SAP , ERP , GNIIT , Air Hostess Training programmes etc.
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In case of private institutions, the same has to be recognized by the relevant government body. Apart from the courses mentioned above, the bank also offers loans for short term, job oriented courses.


Features :

HDFC bank offers loans upto rupees 10 lakhs for your education within the country. In case of studying abroad, the limit goes upto 20 lakhs. However, loans are only provided in case the institiutes are a part of the approved list of institutes maintained by the bank. These loans are available upto a tenure of 7 years. Repayment period of the loan begins either 1 year after completion of the course, or 6 months after obtaining employment- whichever is earlier.

HDFC bank also provides loans for course related expenses like which may include study tours. The amount is disbursed directly to the educational institution according to the schedule for payment at the respective institute. A special feature of the bank is the Credit Sheild facility. In case of death or permanent disability of the loanee, the loanee/nominee can avail of the Payment Protection Insurance (Credit Shield) which insures the principle outstandings on the loan upto a maximum of the loan amount.

A moratorium period of the course length + (1 year after completion of the course OR 6 months after obtaining employment) is also available.


Scope :

The bank covers the following expenses which a student may incur through the duration of the course :
  • Fee Payable to College/School/Hostel
  • Exam/Library/Lab fees
  • Caution deposit / Refundable deposit asked by the institution/Building fund - supported by Institution bills/receipts
  • Purchase of Books/equipments/instrument/uniforms
  • Travel expenses/passage money for studies abroad
  • Purchase of computers - essential for completion of the course
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In addition, expenses such as those for study tours, project work, thesis etc. are also covered.

Additional Charges :

The bank levies extra charges in case of bounced cheques, late payment of EMI, statements and other legal expenses where applicable.
To apply :
  • You can apply for a loan by calling HDFC on the appropriate number listed here.
  • You can also visit the branch closest to you. To locate a branch click here.
  • Alternatively, you can apply online by filling the application form here.