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