HSBC Bank Education Loan- Eligibility, Interest Rates, Documents Required, Application Process
For holders of HSBC accounts, HSBC provides education loans for further education in India and beyond. Through its services for foreign accounts, it offers loans to study abroad. To learn more about the HSBC education loan, continue reading.
HSBC Education Loan Interest Rate and Other Details
While exploring interest rates and charges, don’t overlook the Tax Benefits on Education Loan Repayment, which can reduce your effective repayment cost with HSBC.
HSBC Education Loan for Abroad
Also Read: How to Get an Education Loan for Abroad Studies in 2024
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Documents Required for HSBC Education Loan
International loan applicants, including those applying through HSBC, should review the Education Loan for Ireland guide for a detailed list of required documents.
Also Read: Education Loan without Collateral 2024: Banks and Interest Rates
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Education Loan Subsidy Schemes
Must Read: Minority Education Loan Scheme: Eligibility & Interest Rates
How to Apply for an HSBC Education Loan?

You can apply for the HSBC Education Loan online or offline:
Offline:
Step 1: Go to the HSBC operational branch closest to you.
Step 2: Deliver all necessary paperwork to that branch.
Step 3: A verification of your documents will occur.
Step 4: The loan amount will be approved and paid out after verification.
Online:
Step 1: Start the application process.
Step 2: Upload the necessary files directly through the website to guarantee that your identification, academic standing, and financial situation are correctly reflected.
Step 3: After reviewing your application and supporting documentation, HSBC determines if you qualify for an education loan.
Step 4: The loan amount is disbursed upon approval, enabling you to pay your educational costs.
HSBC Bank Loan Repayment Process
The length of time you select will determine how much you repay HSBC. The EMIs will be calculated using the interest rate and payback period at the time of sanction.
For instance, if the applicant took out a loan of 20 Lakhs at a rate of interest of 12% and the repayment period was 15 years, their EMI schedule would look something like this:
Before starting repayment with HSBC Bank, it's important to understand the Education Loan Moratorium Period, which can delay EMI payments until after graduation.
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Challenges while applying for HSBC Education Loan
Here are the common challenges faced while applying for an HSBC Education Loan:
- A tedious and lengthy process
- Might have to schedule several visits
- processing the loan takes a highly long time
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Propelld Education loan has a 100% digitised process, which is easy and has higher approval rates than other commercial banks.
Why Propelld?
There are several more benefits of getting a Propelld Education loan. They are: