HSBC

HSBC’s Educational Loan

HSBC, in affiliation with Global Student Loan Corporation® ( GSLC ) has designed a student education loan program to provide funding for students who are seeking to attain a world-class education at a U.S college or university and can help ease students' financial concerns as they embark on one of the biggest decisions in their life – attending the college / university of their dreams. The program enables you to borrow funds

Eligibility of the Student:

  • The student should be an Indian National
  • The student  should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test / Merit Based Selection process after completion of HSC ( 10 plus 2 or equivalent ).

Age Limit :

Minimum : 18 years

Maximum : 58 years

Liability of Finance :

Expenses allotted for the Loan :

  • 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
  • The estimate for boarding, lodging expenses and also the cost of books and equipment needs to be confirmed by the concerned school.

Margin :

  • 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

Processing Fee / Mortgage Charges :

  • 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

For more Details, Kindly refer the following link :

https://www.hsbc.co.in/1/2/personal/loans/educational-loan#features

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