HDFC Bank Abroad Education Loan

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✓ Education Loan at an interest rate as low as  8.64%

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Table of content

  1. HDFC Bank Abroad Education Loan with Collateral
  2. HDFC Bank Abroad Education Loan without Collateral
  3. HDFC Bank Education Loan Processing fee
  4. Documents required to get an Abroad Education Loan from HDFC bank
  5. HDFC Bank Abroad Education loan Repayment Policies
  6. How to Apply for an Abroad Education Loan from HDFC Bank?
  7. Why choose WeMakeScholars?
  8. FAQ's
  9. Need Help? Ask Here!

India’s Largest Study Abroad Funding Expo (SAFE) 2024

- Explore 26,000+ International Scholarships

- Instant Education Loan-pre approval with the lowest interest rate in India

HDFC Bank is India’s largest subsidiary of the Housing Development Finance Corporation which deals with the banking and financial service sector. HDFC Bank announced its merger with HDFC Limited in April 2022. Borrowers, especially students taking education loans with the property as collateral, see this merger to their benefit.

HDFC Bank Abroad Education Loan with Collateral

Loan Parameters


Loan Limit

No upper limit

Expenses covered

    • Tuition fees 
    • 100% of living expenses
    • Cost of instrument and study equipment
    • Uniform purchasing cost
    • Cautionary deposits
    • Traveling cost
    • One way airfare
    • Accommodation expenses
    • Purchase of books, instruments, uniforms

Accepted co-applicant

Parents, Parents in law, Siblings, Spouse

HDFC Bank Education loan interest rate/rate of interest (effective)

Starts from 8.64%

Moratorium Period

Course duration + 12 months

Repayment Duration

Upto 14 years including the moratorium period

Repayment policies

Interest amount during the moratorium period will be added to the outstanding loan amount and paid with EMI

Eligibility Criteria

    • The borrower and co-applicant must be an Indian citizen
    • Ability to offer collateral for certain cases
    • Co-borrower(s) must have a bank account in any bank in India with cheque writing facilities
    • Confirmed admission in the colleges before disbursement
    • Borrower along with Co‐applicant(s) should abide by HDFC Credila's underwriting and credit norms

Acceptable collaterals

    • Liquid Securities – Fixed Deposit with HDFC Bank or HL with HDFC Ltd, select Debt Mutual Funds, Insurance Policies, and NSC / KVP
    • Immovable Collateral – Flat, House, Bungalow, Land (Non-Agricultural), Shop, etc.

Courses eligible

    • MS
    • MBA
    • MBBS/MD – Only Indian Colleges
    • Executive Management Courses (Working Executives)
    • All Other Courses – Cases to Case Basis


Collateral loans usually take a lot of time, But not when WeMakeScholars on your side

HDFC Bank Abroad Education Loan without Collateral

Loan Parameters


Loan Limit

Upto 45 lacs

Expenses covered

    • Tuition fees as determined by the college
    • Upto 100% traveling cost
    • Accommodation cost
    • Laptop cost
    • Examination fees/ instruments/ uniform
    • Accommodation expenses
    • Purchase of books, instruments, uniforms

Accepted co-applicant

Parents, Parents in law, Siblings, Spouse

HDFC Bank Education loan interest rate/rate of interest (effective)

Starts from 8.64%

Moratorium Period

Course duration + 12 months

Repayment Duration

Upto 14 years including the moratorium period

Repayment policies

Interest amount charged during the moratorium period can be added to the pending loan amount and be paid later with EMI

Eligibility Criteria

    • Ability to offer collateral if applying for collateralized education loan
    • The applicant and co-applicant must be an Indian citizen
    • Applicants and Co‐applicant(s) should adhere to HDFC Credila's credit and underwriting norms
    • Co-applicant(s) must have bank account in any bank in India with cheque writing facilities
    • Admission should be confirmed before taking disbursement

Courses eligible

    • MBA
    • MS
    • Executive Management Courses (Working Executives)
    • MBBS/MD – Only Indian Colleges
    • All Other Courses – depends on student's profile


Be it with collateral or without collateral we always get you the best loan for your profile.

HDFC Bank Education Loan Processing fee

The processing fees charged by HDFC bank on student loans for India and abroad are calculated as per the following table:

Type of Education Loan

Processing Fee

For Study in India


For study abroad, Special Initiative cases, Part-Time cases

Upto 1% or minimum Rs. 1,000 (whichever is higher)


Apart from this HDFC Bank charges the following fees from the students:

  Type of service

The amount charged by HDFC Bank

Charges for the delay in payment

2 % of installment per month + applicable taxes

Direct Debit/ ACH/ Cheque Bouncing Charges

Rs. 400/- per dishonor of ACH or Direct Debit or cheque return per presentation along with applicable taxes

Direct debit or ACH mandate or cheque swapping charges

Per swap - Up to Rs.500/ plus applicable taxes

As per the customer request, handling & updating the loan account

Rs. 1,500/- plus taxes (if any) 

Collection charges (manually)

Rs. 200/- per visit plus, any taxes


These processing fees and other additional charges mentioned above are charged by the HDFC bank and not WeMakeScholars, our services are totally free of cost for students. WeMakeScholars is a government of India-funded, leading education loan partner, supported by the Ministry of Electronics and Information Technology, under the Digital India Campaign

If you are looking forward to applying for an education loan or want to check your education loan eligibility, request a callback or fill out the eligibility form at WeMakeScholars.

Documents required to get an Abroad Education Loan from HDFC bank

Documents required to get an education loan for abroad studies from HDFC bank are given here, check out the list of mandatory documents to start your loan process:

Section 1: Application form 

2 passport-size photographs of applicant and co-applicant with the online application form (in hardcopy) filled through the WeMakeScholars website.

Section 2: Photo ID card of Applicant and Co-Applicant (Any one)

  • Driving License
  • Permanent Account Number (PAN) Card
  • Passport
  • Aadhaar Card
  • Voter's ID Card

Section 3: Basic documents for student and co-applicant or Guarantor

  • Bank statements last 8 months (Personal/ Salary). For co-applicant, a credited salary should be mentioned. if salaried or business transactions of 1 year if self-employed.
  • Statement of personal asset & liability (assessed by the branch professional)
  • Proof of professional receipts credited every month.
  • Address proof – Electricity Bill/ Voter ID Card/ Bank statement of account/ Passport/ Telephone Bill/ Aadhar card/ Ration card. 

Only documents attested by the applicant themselves will be accepted

Section 4: Applicant's Academic Documents

  • Entrance exam score certificate - GRE/GMAT/TOEFL/IELTS, etc. (whichever is applicable)
  • Fee structure with payment schedule as given by the university or college 
  • Marksheet and score certificates of - 10th, 12th, and Degree
  • Scholarship documents (if applicable)
  • Admission proof for the course (mentioning the total duration of the course)

Section 5: Income documents of Co-applicant

If Salaried

  • Last 2 years details according to Form 16 
  • ITR proof of last 2 years
  • ID card of the employer 
  • Salary slip of the co-applicant on company’s letterhead of last 3 months
  • Any Other Income Proof That is Not Reflected in the Above Documents

If Self-employed

  • Address proof of the business 
  • Provisional or real financial statements of the last 2 years, certified by the CA.
  • If self-employed then the Profit & Loss account and balance sheet of the past 3 years
  • Last 2 year’s ITR
  • Employee’s office address proof
  • Income proof which is not mentioned in the above documents can also be shown

Section 6: Other Documents

  • Declaration from the co-applicants side stating that all other leftover expenses, except for those covered in the loan will be paid by them as per the format provided by your Financial officer at WeMakeScholars.
  • The legal agreement with the co-applicant and student in the standard format, which your financial officer will provide you.

Section 7: Additional docs (if applicable)

  • Proof of payments made, (if any) previously in the last 6 months.
  • Gap certificate if the students have had any break in studies on Rs. 100 stamp paper. The format will be provided by WeMakeScholars Financial officer
  • Loan account statements of any pending loans in the past 1 year.

Section 8: Collateral documents (Optional)

  • Title deed of property
  • Registration receipt in original for the above agreement
  • Recent bill of maintenance along with proof issued by builder/ society.
  • Allotment Letter By Municipal Corporation / Authorized Govt. Authorities like CIDCO, MHADA, etc. 
  • Previous chain of sale deed establishing title
  •  Latest tax receipts of the property
  • Sale agreement of registration along with society share certificate
  • NOC for the mortgage from society/builder,
  • Plan of building approved by the responsible authority
  • Encumbrance certificates as on date etc

However, each state has different document requirements, ask your financial officer to provide you with a specific documents checklist according to your loan profile requirement, and apply for an education loan from HDFC bank. 

We take care of all your paperwork for you, relax and collect your sanction

HDFC Bank Abroad Education loan Repayment Policies

Students will be charged interest during the moratorium period. The repayment duration is upto 14 years including the moratorium period, within which students will have to repay the entire loan amount.

However, students may choose to repay the loan even earlier, by implying the following strategies:

  • Prepayment or Part Payment
  • Opting for shorter repayment periods
  • Transfer of education loan

We are specialists in navigating through all of the additional ins and outs of the process of getting an education loan approved. As a result, we suggest that you process your student loan through WeMakeScholars.

Request a callback or fill out the common application form to reach out to your financial officer at WeMakeScholars, and get ready to crack the best deal for your higher education loan.

Don't let the stress of education loan applications wear you out, let us take care of it

How to Apply for an Abroad Education Loan from HDFC Bank?

To apply for an abroad education loan from HDFC bank, the following are the two ways

Offline Application Process

  • Visit the nearest HDFC Bank branch and ask the loan officer about the education loan products
  • Decide and choose the product as per your eligibility criteria, under which you want to apply for an education loan
  • Fill out the loan application form and ask for the list of documents required
  • Visit the bank again with all the documents listed by the loan officer, to finally get your loan process started.

Online Application Process

Step 1: Reach out to WeMakeScholars by Requesting a callback or filling out a common application form

Step 2: Give all your education loan details to your assigned financial officer over a call

Your assigned financial officer will study your loan profile and suggest you the best lenders, to get your loan approved.

Step 3: As per your eligibility choose your preferred lender and tell your financial officer.

Step 4: As per the documents checklist sent to you by your financial officer, submit all the documents to the bank, to start your education loan process.

Step 5: Your financial officer will keep a track of the progress on your loan file, if required call them to take follow-ups.

Step 6: Within 15-20 days you can collect your sanction letter if taking an education loan with collateral, if taking an education loan without collateral then 7 days will be enough. 

The process will not be as smooth if you approach the banks directly to process your education loan, there will always be issues like:

  • Missing documents checklist
  • A heap of documentation
  • Multiple visits to the banks, delay the process
  • The discrepancy in legal and valuation reports
  • Unavailability of correct information
  • Insufficient information about loan eligibility criteria

To avoid these issues while processing your education loan application, choose WeMakeScholars as your education loan application partner.

Why choose WeMakeScholars?

  1. Shorter Processing time: Your loan gets approved within 6-7 days, if taking it from a private bank or NBFC and within 15-20 days if taking from a public bank with collateral. In both cases processing time is 50% less than what banks usually take.
  2. Better Interest rates: An interest rate discount of 0.5% to 2% is offered to all the students who process their education loan with WeMakeScholars, as we are HDFC Banks largest education loan partner
  3. Expert Guidance: As per the analysis of your loan profile from all perspectives your financial officer will guide you to choose the best lenders as per bank policies and  your eligibility.
  4. Digitized application process: Online loan application process makes it easy for students to apply for an education loan anytime from anywhere. Also, our  documents portal is to reduce the stress of going to the banks multiple times just to submit the documents.
  5. Negotiation support: We provide support to negotiate with the banks in terms of loan conditions and rate of interest, to make it easy for you to process.
  6. End-to-end support: Your financial officer will stay with you throughout the loan sanctioning process and even at the time of disbursement to resolve your post-sanction issues, if any.
  7. Tax benefits: We help you to save and take tax benefits on your education loan, by informing you about the tax saving schemes of the Income tax department like Section 80E, 80C, etc, along with the tax collected at source (TCS).
  8. Free-of-cost services: We are funded by the IT Ministry, under the Digital India Campaign, and all our prime loan sanctioning services are free of cost for all the students.
  9. Cashback offer: You can get up to Rs 3,000 as cashback at the time of your disbursement from us. 

To fast-track your education loan process, visit WeMakeScholars and apply online for an education loan!

Need an education loan? Let us help you get it fast, easy, and hassle-free.

Education Loan FAQs

  • What is the interest rate on an education loan from HDFC bank?

    The rate of interest applicable on education loans offered by HDFC bank starts from 8.64%. However the rate of interest may vary depending on other parameters of a student’s loan profile. To know about the best interest rate for your education loan, get in touch with your financial officer at WeMakeScholars.

  • Does HDFC bank provide education loans for foreign education?

    Yes, HDFC bank provides both, education loans with collateral and without collateral to help students raise funds for their foreign education.

  • What are the documents required to apply for an education loan from HDFC Bank?

    The documents required to apply for an education loan from HDFC bank are as follows: Application form, Identity proof, Residence proof, Bank KYC documents of applicant and co-applicant, Collateral documents, Academic marksheets, Proof of admission and documents related to admission, and Scholarship documents (if applicable). This is the basic document checklist, however the need of documents depends on the student's loan profile.

  • Can I get a Rs 20 lakhs education loan without collateral from HDFC bank?

    Yes, you can get upto Rs. 45 lacs as non-collateralized education loan from HDFC bank, but to get such a high amount as an education loan without collateral you must have a strong financial co-applicant. But, we have successfully processed multiple education loans of such type cases, you also can start your loan process with WeMakeScholars by requesting a callback or filling up the common application form.

Our Education Loan team will help you with any questions

Ajay Kumar
WeMakeScholars- supported by IT Ministry, Govt. of India.
Published: | Updated: