HSBC Bank Abroad Education Loan

For owners of HSBC accounts, HSBC provides loans for further education in India and overseas. Through their overseas account services, they provide loans for foreign schooling. Additionally, they provide personal loans for schooling with interest rates beginning at 9.54% per year.

In order to assist underprivileged communities in India, the Indian government provides subsidies. The interest accrued during the moratorium/ grace period is paid by the Indian government under various programs.

Dr. Ambedkar Central Sector Scheme

- The student may be eligible for this subsidy if their family income is less than 8 lakhs per year and they fall under the Economically Backward Class (EBC).
- This subsidy is available to students from OBC populations who have a household income of less than 8 lakh rupees.

Padho Pardesh

-If the student's family makes less than Rs. 6 lakhs and they are a member of a religious minority (Muslim, Christian, Sikh, Buddhist, Jain, Parsi (Zoroastrian)

Note: The scheme has been discontinued by the government from 1st April 2022. However, the beneficiaries before 1st April are eligible for the interest subsidy in the moratorium period.

Our financial officers at WeMakeScholars provide you with a carefully curated list of Documents that are specifically suited for you and the loan you're applying for, taking into account all the minute details so you can submit all the necessary paperwork at once.

The repayment for the HSBC Bank Education Loan depends on the tenure selected by you. The EMI will be calculated on the basis of the tenure of repayment and rate of interest at the time of sanction.  

For example, if the applicant received a loan for 15 lakhs with a 10% interest rate and a 10-year repayment period, their EMI schedule might look like this.

Our goal is to ensure that the loan disbursement process is as smooth and stress-free as possible so that you can focus on your studies without worrying about financial matters.

HSBC Bank Education Loan Offline Application Process 

Step 1: Go to the nearest HSBC bank’s operating branch to you.

Step 2: Submit all the documents asked for by the banking representative for verification.

Step 3: After verification, the loan amount will be approved and released.

HSBC Bank Education Loan Online Application process through WeMakeScholars

Step 1: Fill in the common application form available on the WeMakeScholars website.

Step 2: After filling in the form you’ll be contacted by a financial officer from our team. You’ll be asked for your basic details to gauge your eligibility for the loan. 

Step 3: After a thorough analysis of your profile, you’ll be given a thorough analysis of your profile, you will be provided with a list of lenders you are eligible of getting a loan from.

Step 4: You will be given a list of documents that are to be submitted to start your loan process. Submit the documents accordingly to the Secured WeMakeScholars document portal.

Step 5: As soon as your documents have been submitted, your profile will be logged in. The outcome of your loan application will be given to you within 2-6 days in the case of private banks and 15-20 days in the case of public banks. 

Step 6: You will receive the sanction letter and then you need to sign your loan agreement. 

Issues while approaching the lenders directly

1. Lack of clarity 
2. The loan processing process is quite slow.
3. Lack of a document checklist
4. No scope for negotiation 
5. Inadequate transparency
6. No knowledge of the other rival products on the market.

Negotiation on your behalf: Want a lower interest rate?  We have your back. Our highly skilled staff of financial officers at WeMakeScholars will negotiate the interest rate on your behalf. You may cut your interest rate by up to 2% by having us handle the processing of your loan.

Best customer service/support: You can contact us at any time with any questions you may have. We will support you during the entire financing procedure. We may always be reached by phone. (9 a.m.–9 p.m.)

The cashback offered: By applying for your study abroad education loan with WeMakeScholars, you are assisting the Digital India initiative and will be rewarded with cashback on repeated disbursements up to a maximum of INR 3000.

Free-of-cost services: Since we are a government-funded institution backed by the Ministry of IT, we provide our high-quality services at no cost.
Request a callback or fill in the common application form to get started on your loan application process today!