HSBC bank education loan

Features & Benefits

• Loans upto Rs. 1 crore* against Residential property
  
• Tenor of upto 15 years
  
• Attractive interest rates
  
• Loan Components
  
  • The tuition fees component can go up to 100% of the total loan amount
  • The lodging & boarding component is a maximum of 40% of the total loan amount
  • The cost of books & equipment component is a maximum of 10% of the total loan amount

• Margin Money
  
  • HSBC India can fund a maximum of 85% of the total programme fees
  • Upfront contribution proof of the remaining 15% of school fees must be submitted to HSBC, India prior to the disbursal
    
• Currency
  
  • The loan is disbursed in Indian rupees (INR) from where the funds are forwarded to the concerned school in U.S. dollars
  • The applicant / co-applicant must repay the loan in Indian Rupees (INR)
    
    
• Fees & Charges

Processing fees
 
• 1% of the loan amount applied for, subject to a minimum of Rs 5000 plus service tax. This fee is payable on application and is not refundable
• Additional fees, as charged by GSLC apply. (If applicable)

A one-time administration fee of 1.75% of the principal amount plus service tax (at 10.30%, totally 1.93%) shall be collected by HSBC and payable to GSLC

An upfront non-refundable site usage fee of $75 is payable to GSLC via Credit Card or PayPal through the GSLC website

• Pre-payment charges


• No pre-payment charge up to a maximum of 25% of the outstanding loan, once every financial year (April-March)
  
• A pre-payment charge of 4% shall be levied for the amount in excess of 25% of the outstanding loan amount
  
• Loan prepayment can be done only after six months from the disbursal date