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HSBC bank education loan
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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
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