Hero FinCorp Education Loan (India)
Hero FinCorp, established in 1991 and headquartered in New Delhi and registered with the RBI as an NBFC, offers an education loan for study in India with interest rates from 18% to 30%. Loan amounts range from ₹50,000 to ₹7,00,000, with tenure from 12 to 36 months.
There is no charge for partial prepayment, while foreclosure attracts a charge of 5% plus GST. Documentation required is limited to PAN and Aadhaar. Rate type, processing fee, minimum CIBIL score, age limits, minimum salary, and employment type eligibility are not published for this product.
Documents required
- PAN
- Aadhaar
As published by Hero FinCorp. Your branch may ask for more.
Eligibility
Loan terms
Prepayment condition: This is the foreclosure charge, not a separate prepayment-specific charge. The source treats prepayment and foreclosure as distinct named events — 'Prepayment Charges — Not applicable' (0%) is a SEPARATE line item from 'Foreclosure Charges — 5% + GST on the outstanding principal' (no 'up to' qualifier on this page, unlike personal-loan). This schema has no separate foreclosure field, so prepayment_penalty_percent is absorbing the foreclosure figure as the closest available field.
- no prepayment charge
- foreclosure 5%+GST
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.