8th April 2016 04:45 PM | |
Pathak | Re: HDFC Bank Education Loan for Abroad Hello, here I am providing you the details of the HDFC Bank Education Loan for Abroad education as under: [B] Features and benefits of taking an education loan:[/B] Huge tax benefit under Sec 80 E of Income Tax Act of India Opportunity for students to take up responsibility and pay for their education on their own Preserve family savings (don’t break FDs, MFs etc and preserve funds for family contingency/emergencies) EMI starts post course completion whereas through personal finance fee needs to be paid at the beginning of the course Plan your finances in advance: Apply for a loan even before admission confirmation to avoid last minute running around for funds. Also, use the loan sanction letter as a proof of funds. An education loan from Credila can also cover tuition fee, living expense, books, travel, laptop etc. Build a good credit history (helps in taking loans etc in the future also) Quick and convenient loan processing with door step service [B]Eligibility:[/B] You need to be a Indian resident You should be aged between 16 - 35 years. Collateral security may be required Co-Applicant: Co-Applicant is required for all full time courses Co-Applicant: Parents, spouse and siblings, father in-law, mother in-law, brother in-law, paternal/maternal uncle/aunt [B]Interest and other charges:[/B] Loan Processing Charges Up to 1.5% of the sanctioned amount plus applicable any taxes thereon. Pre-payment charges Nil No Due Certificate / No Objection Certificate (NOC) Nil Duplicate of No Dues Certificate/NOC Nil Solvency Certificate Not applicable Charges for late payment of EMI @ 2 % per month of instalment ( MI/PMII)+ applicable taxes thereon Credit assessment charges Not applicable Non standard repayment charges Not applicable Cheque or ECS mandate or Direct Debit swapping charges Up to Rs.500/- per swap instance plus applicable taxes thereon Cheque/ECS/Direct Debit Bouncing Charges Rs. 400/- per dishonor of cheque or ECS or Direct Debit return per presentation plus applicable any taxes thereon Legal / incidental charges At actual Stamp Duty and other statutory charges As per applicable laws of the state Loan cancellation charges 1% of the unveiled sanctioned loan amount + applicable any taxes thereon Manual Collection Charges Rs. 200/- per visit plus applicable any taxes thereon Charges for Updating & Handling Loan Account As Per Customer Request Rs. 1,500/- plus applicable any taxes thereon Document Storage & Retrieval Charges For No Collateral: Rs. 2,000/- plus applicable any taxes thereon For Collateral: Rs. 4,000/- plus applicable any taxes thereon |
8th April 2016 04:44 PM | |
Unregistered | HDFC Bank Education Loan for Abroad Hello, I want to know the details of the HDFC Bank Education Loan for Abroad education. Please provide me. |