HSBC Student Loans

I have done my UG and want to pursue higher education from abroad want the education loan. Will you provide me all the details related to taking the student education loan from HSBC also tell me eligibility to take loan along with the lists of documents required?

[Kiran Chandar]

HSBC is one of the world’s largest banking and financial services organizations.

They serve around 48 million customers through four global businesses:
Retail Banking and Wealth Management
Commercial Banking
Global Banking and Markets and
Global Private Banking

HSBC Educational Loan Scheme:

Features & Benefits

Loans upto Rs.1 crore against Residential property
Tenor of upto 15 years
Attractive interest rates

Loan Components

The tuition fees component can go up to 100% of the total loan amount
The lodging & boarding component is a maximum of 40% of the total loan amount
The cost of books & equipment component is a maximum of 10% of the total loan amount
The estimate for boarding, lodging expenses and also the cost of books and equipment needs to be confirmed by the concerned school.

ELIGIBILITY

To qualify for an Education Loan, the following criteria apply
a. Net Income (Rs.) of Primary Applicant / co-applicant 500,000 per year for Salaried. 750,000 per year for Self employed.
b. Minimum Age (in years) of Primary Applicant / co-applicant 18
c. Maximum Age (in years) of Primary Applicant / co-applicant 58 or retirement age (whichever is earlier) for salaried at loan maturity. 65 for self-employed. 60 or retirement age (whichever is earlier) for PSU/government salaried employees, at loan maturity
d. Minimum Loan Amount (Rs.) 500,000
e. Maximum Loan Amount (Rs.) 10,000,000
f. Loan to Value Ratio 65% upto education loan of INR 5 M,55% for education loan between INR 5-10 M

Basic documents required for applying to loan:

Proof of individual’s identity (any one of the following)
Passport*
Photo PAN card
Defence identity card
Voter's identity card
Driving license
Photo ration card
Government identity card
Proof of residence (any one of the following)

Passport*
Ration card
Telephone (land/mobile) bill
Electricity bill
Driving license
Society outgoing bill
Voter's identity card
Life Insurance Policy
*Only Passport can be used as both Proof of individual's identity and Proof of residence.
Proof of age (any one of the following)
Passport
Valid driving license
Voter's identity card
Birth certificate
School leaving certificate

Financial documents
Salaried individuals

HSBC Bank/Customer service
1800 103 4722