Education and Career Forum

Hi Sir,
I have completed my B.A. in Economics and preparing for CAT. I want to do MBA with the help of Bank Education Loan. I just want to know that if I apply an Education Loan from HDFC Bank then what are the charges associated with Education Loan. I want to know the associated charges of this Bank for an Education Loan. Kindly tell me asap.

The information regarding associated charges under HDFC Bank Education Loan Scheme is mentioned below :-

--> Loan Processing Charges :- Maximum up to 1% of the loan amount as applicable.

-->Pre-payment Charges :- Upto 4% of the Outstanding Balance prepaid, if loan is foreclosed/ part prepaid during Moratorium.

-->Charges for late payment of EMI :- 24 % p.a. on overdue/ unpaid EMI amount outstanding from EMI due date.

-->Cheque / ECS swapping charges :- Rs. 500/- per instance

-->Duplicate Repayment Schedule Charges :- Rs. 200/-

-->Loan Re-Booking / Re-Scheduling Charges :- Upto Rs. 1000/-

-->EMI Return Charge :- Rs.550/- per instance

There is no additional charge associated with education loan from HDFC bank. You need to pay initially the cost of documentation. Apart from that, there is no other additional charge if you comply with the terms and conditions and start repayment of loan without fail. You will need to pay security margin at the time of every loan installment disbursement and this clause will be included in your education loan scheme.