HDFC Bank Education Loan (India)
HDFC Bank, established in 1994 and headquartered in Mumbai, offers an education loan for study in India with interest rates from 9.3% to 11.7%. The processing fee is Nil for loan amounts up to ₹7,50,000 and 1% above that threshold. The loan amount can go up to ₹1.5 crore depending on the course, institution, and collateral offered, with tenure up to 180 months.
A co-applicant, being a parent, guardian, spouse, or parent-in-law, is mandatory for all full-time programs. The moratorium period equals the course duration plus 1 year, or 6 months after employment begins, whichever is earlier.
Required documentation includes the institute's admission letter with fee break-up, SSC, HSC and graduation marksheets, age proof, identity proof, and residence proof; salaried applicants must provide the latest 2 salary slips and 6 months of bank statements, while self-employed applicants must provide the last 2 years' ITR with computation of income, 2 years of audited balance sheets, 6 months of bank statements, and proof of turnover. Rate type, prepayment penalty, minimum loan amount, minimum tenure, minimum CIBIL score, age limits, minimum salary, and employment type eligibility are not published for this product.
At 9.3%, HDFC Bank has one of the lowest starting rates of the 7 lenders we track for education loans (india).
Documents required
- Institute admission letter with fee break-up
- SSC, HSC and graduation marksheets
- Age proof
- Identity proof
- Residence proof
- Salaried applicant - latest 2 salary slips and 6 months bank statement
- Self-employed applicant - last 2 years ITR with computation of income, 2 years audited balance sheet, 6 months bank statement, proof of turnover
As published by HDFC Bank. Your branch may ask for more.
Eligibility
Loan terms
- Co-applicant mandatory for all full-time programs (parent, guardian, spouse or parent-in-law)
- Nil processing fee up to loan amount ₹7,50,000, 1% above that
- Loan amount up to ₹1.5 crore depending on course, institution and collateral offered
- Moratorium equals course period plus 1 year, or 6 months after employment, whichever is earlier
Fees & charges
Tax: interest paid is deductible under Section 80E with no upper cap, for up to 8 years. Confirm with a tax adviser.
FAQ
After the moratorium — course duration plus 6 to 12 months. Interest accrues during study; paying simple interest through the moratorium reduces your later EMI.
Every row is date-stamped with the day we last checked it, and links to the lender’s published material so you can confirm it yourself. A row we confirmed against the source reads “Verified”; one we could only sight reads “as of”, and is not presented as confirmed. Anything we have not re-checked in 60 days is marked “rate under review” rather than left to look current. We do not claim a fixed re-checking cycle — the date on each row is the honest answer.
No. Viewing rates is not a credit enquiry and has no score impact. A hard enquiry happens only when you formally apply to a lender.
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