HDFC Bank Education Loan

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Rates as low as 9.33%
Pre-Admission Loans
Study in India / Abroad
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Unsecured Loan Available

HDFC Bank Education Loan

HDFC Bank Education Loan Summary Table 

HDFC Bank Education Loan Amount For India – INR 10 lakhs
For Abroad – 20 lakhs
(Up to ₹ 7.5 lakh without collateral)
HDFC Bank Education Loan Interest Rate 9.55% per annum
HDFC Bank Education Loan Margin For loans above INR 4 lakhs
In India: 5%
In abroad: 15%
HDFC Bank Education Loan Processing Fee Up to INR 4 lakhs: Nil
Above INR 4 lakhs: INR 5000
HDFC Bank Education Loan Security Up to 7.50 lakhs: Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee

Above INR 7.50 lakhs: Tangible security along with parents as co-borrower

HDFC Bank Education Loan Repayment Starts After 1 year of course completion or 6 months after getting the job

HDFC Bank Education Loan Features

  1. Amount of LoanHDFC education loan
    1. for studying in INDIA: maximum Rs.10 lakh
    2. for studying ABROAD: maximum Rs.20 lakh
  2. Collateral security for availing an education loan
    1. For Loans up to INR 7.5 Lakh – NO – Nil Collateral nor Third-Party Guarantee
    2. For Loans Above INR 7.5 Lakh – Yes, Any of the following collaterals: Residential Property, HDFC Bank Bank Fixed Deposit, LIC/NSC/KVP
  3. HDFC Education Loans are available up to a tenure of 15 years, including a moratorium period
  4. Repayment starts either 1 year after course completion or 6 months after obtaining employment (whichever is earlier)
  5. HDFC education loans are available for short duration/ job oriented courses.
  6. You can also avail the tax rebate offered under section 80-E of the Income Tax Act 1961 for the entire interest amount paid towards your education loan.

HDFC Bank Education Loan Eligibility Criteria


Eligibility Criteria

Applicant’s Age

  • Non-employed personnel: Up to 35 years
  • Working employees / Executives: Up to 45 years

Who Can Apply?

  • An Indian National: With secured admission to professional/technical courses in recognized institutions.
  • Permanent employees: Who are employed for not less than three years with any organization and have secured admissions in a reputed institute or who intend to acquire higher professional qualifications.

Maximum Loan Amount

  • For studies in India: Up to Rs. 1,000,000
  • For studies Abroad: Up to Rs. 2,000,000
  • For studies at IIT’s, IIM’s and ISB’s: Upto Rs. 4,000,000

Frequency Of Repayment

  • Quarterly or monthly.
  • Starts 1 year after completing the course of six months after getting a job, whichever is first.
  • Loan interest re‐payment will start immediately after disbursement of the first instalment of the loan.

Repayment Period

  • Tenure: Education Loan consists of Duration of Study, Grace Period after the Study, and Repayment Period.
  • For Indian courses: Repayment tenure is a maximum of 12 years after the commencement of repayment.
  • For Abroad courses: Repayment tenure is a maximum of 12 years after the commencement of repayment.

HDFC Bank Education Loan Interest Rates

Scheme Maximum Loan Amount Interest rate (p.a.)
HDFC Bank’s Education Loan for Education in Indian Up to Rs.20 lakh 9.55% – 13.25%
Education loan for Foreign Education No Upper limit 9.55% – 13.25%

HDFC Bank Education Loan Schemes with Detailed Features, Docs, Max Loan, Courses

Schemes Maximum Loan Amount Interest Rates
HDFC Bank Student Loan Rs.20 lakh 10.05%
HDFC Bank Scholar Loan Rs.40 lakh 8.95% to 9.25%
HDFC Bank Global ED-Vantage Rs.1.5 crore 10.05%
HDFC Bank Skill Loan Rs.1.5 lakh 9.55%
HDFC Bank Take Over of Education Loan Rs.1.5 crore 10.05%

HDFC Bank Education Loan Documents Required

Under Know Your Customer Policy (KYC), the bank requires certain documents.

These documents are required from both the student and co-borrower:

Identity Proof

One of any mentioned documents for Identity proof:

  • Passport
  • PAN Card
  • Aadhaar Card
  • Voter’s ID Card
  • Driving Licence
  • Photo Credit Card
  • Central and State Govt. issued Photo ID Proof
  • Defence ID Card.

Residence Proof

One of the following documents for Residence proof (It should not more than 3 months old):

  • Aadhaar Card
  • Ration Card
  • Passport
  • Bank Account Statement
  • Voter’s ID Card
  • Letter from any recognized public authority
  • Telephone Bill
  • Electricity Bill
  • Water Bill

Income Proof in case of salaried co-borrower

  • Salary Slips (not more than 3 months old)
  • Bank Statements (not more than 3 months old)
  • ITR
  • Form-16 (for the last 2 years)
  • bank account statement (for the last 6 months of salary account)

Income proof for self-employed co-applicant

  • Business address proof
  • IT returns for the last two years (If IT payee)
  • TDS certificate
  • Form 16A if applicable
  • Certificate of qualification (for CA, doctor, and other professions)
  • Bank account statement for the last 6 months.

Additional documents: Aside from KYC documents:

  Student Applicant

Mandatory Passport submission
Academic Records: X, XII grade results. Graduation results semester wise. Entrance Exam results that formed the basis of admission
Proof of admission: A conditional application letter may be considered
Cost of education, schedule of expenses.
2-passport size photographs
If the loan was taken out before then loan account statement for the last 1 year.


2-passport size photographs
If the loan was taken out before then loan account statement for the last 1 year.

EMI Calculator

You can check the EMI for HDFC education loans by clicking on EMI Calculator.

HDFC Bank: Takeover of Education Loan

An Education Loan is Transferable, it is basically a process of transferring high-interest debt from one lender to another lender and with a lower interest rate and better repayment policies.

The HDFC Bank Takeover Of Collateralised Education Loans Scheme can be availed at an interest rate of 1Year MCLR + 1.50% spread. HDFC Bank also gives a 0.50% concession in the interest rate for girls.

How To Apply For HDFC Bank Education Loan

  • Visit  Dialabank for an education loan.
  • Go to the HDFC Bank Education Loan page.
  • Check out all the eligibility and documents criteria for an education loan.
  • Fill out all the details required in the Education Loan application form.
  • Once done, our representative will soon contact you for a further stress-free process.

List of Approved Institutes

  • Architecture college
  • Law college
  • Medical college
  • Pharmacy college
  • Engineering college
  • Bio-technology
  • college
  • Management college
  • Science, Commerce, and Arts college
  • Physical education college
  • B.ED college

FAQs For HDFC Bank Education Loan

✅ How is the EMI calculated for an Education Loan?

The EMI on your education loan can be calculated with the help of this mathematical formula: EMI amount = [P x R x (1+R)^N]/[(1+R)^N-1] where P, R, and N are the variables. As EMIs are paid off every month, the duration is calculated for the number of remaining months.

✅ Is a guarantor required for an Education Loan? 

Since the student who is taking the education loan, can’t pay it off until he gets a job, the bank usually takes the parent or guardian as the guarantor. The bank also verifies the CIBIL score and the credit history of the guarantor before giving the loan to the student.