Educational Loan
Education is the greatest asset anyone can have. Recognizing this, 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.

HSBC India Student Education Loan Program 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 to cover the cost of education – tuition, fees, room charges, boarding, books, and other education-related expenses.

Global Student Loan Corporation® - GSLC - is one of the leading organizations which enables non - U.S. students to find the path to a world-class education. With GSLC, you can access a student-specific Loan Certificate demonstrating adequate funding to attend school - a requirement for securing a U.S student visa. You can receive advice from GSLC's International Student Planner and remain at ease knowing that GSLC has extensive relationships with many U.S colleges and universities. You will also be able to use GSLC's Budget Calculator to calculate how much will be needed towards funding your studies and receive guidance about budgeting for school.

To know more about GSLC and how it can assist you and to begin an application, visit www.GlobalSLC.com.

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

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

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

Disclaimer:
     Since the rules, regulations, eligibility conditions, repayments and interests rates etc are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.