HSBC Education Loan

Parameter Details Loan Limit 15 Lacs (Can receive up to 30 Lacs based on profile) Expenses covered Cost of tuition fee Dorm/ Hostel fee Examination fee Charges of library Charges for laboratory Expenses for travel Health insurance coverage for the applicant Caution fee Charges for Computer/ Books/ Uniform Accepted co-applicant Spouse, Parents, Parents- In- Law, Spouse, Siblings HSBC Bank Education loan interest rate for a non-collateralized education loan product From 9.99% to 16% Moratorium Period 12 or 6 months after completing the course Repayment Duration Up to 5 years Eligibility Criteria The applicant's age should be in the range of: For salaried applicants : 21-60 For self-employed applicants : 21-65 Only resident citizens of India are eligible Only salaried or self-employed applicants are eligible. The correspondence address of the applicant should be within India. The applicant must hold an HSBC account that is active (current/ savings) and has

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When applying for a loan with the help of HSBC, it is essential to attach the documents that are needed for the application. The required documents are categorized into four main groups: identity documents, address documents, age documents, and any other document that relates to finance. The identity of the customer can be proved through any document issued by the government including a passport, voter ID, or driving license. Identity proof entails documents that prove your identity such as a passport and residence proof entails documents that show your place of residence such as a utility bill. Some of the documents that may be used to produce proof of age include the birth certificate or the permanent account number card. Parameter Details Valid proof of applicant's identity The HSBC loan application form attached with one passport-size photograph. Passport of the applicant Voter ID of the applicant Driving license (permanent) An Employee identification card issued by the government ID card provided by defense PAN card Ration card Aadhar Card NREGA Job Card Address proof Any of the following are to be shown as address proof: Passport Election ID Permanent driving license Gas bill Society outgoing bill Ration Card Water/telephone bill/electricity Property tax bill Domicile certificate with address issued by Municipal Corporation Registered rent or lease agreement Proof of age Passport Driving license School leaving certificate Birth certificate PAN card Financial documents Salaried applicants: Latest salary slip showing statutory deductions / Form 16 Account statements

The repayment in HSBC is based on the duration you chose. The repayment period and interest rate at the time of sanction will be used to compute the EMIs. For instance, if the loan availed by the applicant was 15 Lakhs at a rate of interest of 10% and the period for repayment was 12 years, their EMI schedule would look something like this. Repayment Cycle EMI Interest portion Loan Outstanding Principal portion End of 1st year 21175 14153 7022 1691334 End of 2nd year 21175 13418 7758 1602359 End of 3rd year 21175 12605 8570 1504067 End of 4th year 21175 11708 9467 1395483 End of 5th year 21175 10717 10459 1275529 End of 6th year 21175 9621 11554 1143014 End of 7th year 21175 8412 12764 996623 End of 8th year 21175 7075 14100 834903 End of 9th year 21175 5599 15577 656248 End of 10th year 21175 3967 17208 458887 At Subraxo, we are committed to providing comprehensive and reliable services to our users, and post-sanction help is just one of the many ways in which we strive to make the loan application process easier for you. Read More Stop paying too much for your education loan - apply with WMS for a 0.5% reduction in ROI Request a callbac