Overview of Education Loan in Hodal
Hodal, a developing town in Haryana’s Palwal district, supports students with education loans for pursuing higher studies in India or abroad. Education loans in Hodal for 2025 offer financing with competitive rates starting at 8.50% p.a. Lenders like SBI, HDFC Credila, and Axis Bank provide loans up to ₹50 lakh with repayment tenures up to 15 years. Loanpao helps Hodal students compare offers, check eligibility, and apply online for quick disbursal.
Eligibility Criteria for Education Loan in Hodal
| Criteria | Details |
|---|---|
| Age | 18 to 35 years |
| Academic Record | Minimum 60% in Class 10/12 or equivalent; admission to recognized institute |
| Co-applicant Income | Stable income of co-applicant (parent/guardian); ₹2 lakh annual income |
| Credit Score | Co-applicant’s score above 650; student’s score not mandatory |
| Residence | Valid Hodal address proof |
Documents Required for Education Loan in Hodal
- Identity Proof: Aadhaar, PAN Card, Passport, or Voter ID (student and co-applicant).
- Address Proof: Utility bill, Aadhaar, or rental agreement (Hodal address).
- Academic Documents: Class 10/12 mark sheets, admission letter, fee structure.
- Income Proof: Co-applicant’s salary slips (last 3 months), bank statements (last 6 months), ITR (last 2 years).
- Photograph: Recent passport-size photographs (student and co-applicant).
Benefits of Education Loan in Hodal
- Loan amounts up to ₹50 lakh for domestic or international studies.
- Competitive interest rates starting at 8.50% p.a. in 2025.
- Long repayment tenures up to 15 years with moratorium period.
- Covers tuition, accommodation, and other study-related expenses.
- Quick disbursal within 5–10 days post-document verification.
Factors Affecting Education Loan in Hodal
Interest Rate
Rates range from 8.50% to 12% p.a., based on course, institute, and co-applicant’s credit profile.
Loan Amount
Up to ₹50 lakh, depending on course fees and repayment capacity.
Co-applicant’s Credit Score
A score above 650 ensures better rates; lower scores may increase costs.
Institute Recognition
Loans for recognized institutes in India or abroad have better terms in Hodal.
How to Apply for an Education Loan in Hodal
Follow these steps to apply for an education loan in Hodal through Loanpao:
- Visit loanpao.in and select "Education Loan in Hodal."
- Fill out the online application form with details (student name, Hodal address, course details).
- Upload required documents (Aadhaar, academic records, co-applicant’s income proof).
- Compare offers from top Hodal lenders like SBI, HDFC Credila, and Axis.
- Get approval and funds disbursed within 5–10 days in Hodal.
Loan Eligibility for Education Loan in Hodal
Check your eligibility for an education loan in Hodal with Loanpao’s tool:
- Enter co-applicant’s income (minimum ₹2 lakh annually).
- Provide co-applicant’s credit score (preferably above 650).
- Specify course details and institute recognition.
- Include Hodal residence address.
Loanpao will assess your eligibility and suggest the best education loan offers in Hodal.
Check Eligibility NowTrack Your Education Loan Application in Hodal
Loanpao provides a seamless tracker for your education loan application:
- Submit your application ID on the Loanpao Tracker page.
- Get real-time updates on status (e.g., under review, approved, disbursed).
- Receive notifications for disbursal updates in Hodal.
- Contact Loanpao support for assistance with delays in Hodal.
Education Loan Comparison in Hodal
Compare education loan offers from top lenders in Hodal:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| SBI | 8.50% p.a. | Up to ₹50 lakh | Up to 15 years | 0.5% of loan amount |
| HDFC Credila | 9.00% p.a. | Up to ₹40 lakh | Up to 12 years | 1% of loan amount |
| Axis Bank | 9.50% p.a. | Up to ₹35 lakh | Up to 10 years | 1.5% of loan amount |
Frequently Asked Questions
A minimum of 60% in Class 10/12 or equivalent and admission to a recognized institute are required.
Education loans in Hodal are disbursed within 5–10 days after document verification.
The maximum loan amount is up to ₹50 lakh, depending on course fees and repayment capacity.
Yes, a co-applicant (parent/guardian) with stable income is required for education loans in Hodal.
Missing an EMI may incur late fees and negatively impact the co-applicant’s credit score.