Education and Career Forum

I am in a need of education loan so that I can get admission and study BTech. I am going to apply an Education Loan in HDFC Bank. So, kindly tell me what kind of securities they want to take for taking an education loan?

Details of securities against an education loan in HDFC Bank for pursuing B.Tech course are mentioned below :-

--> For loans up to Rs. 4 lakh :- No collateral or Third Party Guarantee is required.

--> For loans from Rs. 4 lakh to Rs. 7.5 lakh :- No collateral required, however Third Party Guarantee is required.

--> For loans above Rs. 7.5 lakh – collateral is required. You can choose from any of the following acceptable collaterals :-

1. Residential Property
2. HDFC Bank Fixed Deposit
3. LIC/NSC/KVP

Details of security to be offered against an education loan in HDFC Bank to study B.Tech course are mentioned below :-

--> Upto Rs. 4 lakhs :- Parents to be joint-borrowers.
--> Above Rs. 7.5 lakhs :- Tangible collateral security of suitable value acceptable to bank along with parents to be joint-borrowers.

Originally Posted by Unregistered

I am in a need of education loan so that I can get admission and study BTech. I am going to apply an Education Loan in HDFC Bank. So, kindly tell me what kind of securities they want to take for taking an education loan?

HDFC Bank education loan collateral options to study BTech course are given below:

For education loan of up to Rs 4 Lakhs: No security. Parents to be joint borrowers

For education loan of above Rs 4 Lakhs to up to Rs 7.5 Lakhs: third party guarantee. Parents to be joint borrowers

For education loan of above Rs 7.5 Lakhs: tangible collateral security of suitable value accepted along with parents to be joint borrowers.
Collateral Securities include residential property, HDFC Bank Fixed Deposit, LIC, NSC or KVP policy

Candidates can find the details in the HDFC Bank website link given Click Here