How HDFC Bank Lends to International Students Going to college abroad is a great way to access world-class education, hdfc student loan abroad but it can be very expensive. As an international student, looking for a great source of educational funds can be stressful. The lack of financial resources shouldn’t be an obstacle in pursuing your dream degree. Fortunately, HDFC bank offers education loans for those who wish to study abroad. Attending college in a foreign country? HDFC bank, through subsidiary company HDFC Credila, offers access to an array of loan schemes that can aid international students. The interest rates are competitive and there is a flexible 15-year repayment plan. If you want to take out an education loan from HDFC bank, here are some things you need to know.
Loan Schemes
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HDFC bank offers three different educational loan schemes: Education Loan for Indian Students, Central Government Interest Subsidy Scheme, and Education Loan for Foreign Students. hdfc student loan abroad
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HDFC offers an Education Loan for Indian Education of up to Rs.20 lakh with an annual interest rate of 9.25%13.42%. HDFC bank also offers an Education Loan for Foreign Students where an Indian resident can get an unsecured loan of up to Rs.35 lakh. The loan will cover various fees and expenses including library fees, exam fees, health insurance, and book and equipment expenses.
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Education loans can be availed of for more than 900 courses in 36 countries, but a co-applicant is required in case of full-time courses. The application process is also simple and easy to follow. The repayment plan can go up to 15 years, and an applicant can even enjoy tax benefits under Section 80(E) of the IT (Income Tax) Act.