NEWS & ADVICE : EDUCATION LOANS
HDFC Bank joined with ICFe to extend education loans
By Neelima Shankar
Sep 26, 2008
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HDFC Bank has extended its hand for providing education loan at minimum interest rates to the students of Institute of Computer and Finance Executives (ICFe).

Mr. Santosh Mangal, CMD, ICFe says on the tie-up with HDFC bank ‘‘Many dreams and aspirations of the bright and deserving candidates remain unfulfilled because of the lack of finances. We are happy that HDFC bank is helping us in this initiative to develop and nurture the future of budding talent by providing them with educational loans at the best possible rates. Through this tie up, many brilliant learners will come forward in contributing towards the Indian accountancy sector, which is in the need of sharp calculating minds".

This facility has been introduced keeping in mind the students belonging to weaker sections of the society. The students of ICFe can avail education loan ranging from Rs 50,000 to Rs 1,00,000 from HDFC Bank. The loan is available at easy and equal repayment installments of 12, 24 and 36 months. These installments start after the course tenure is over. The bank is giving this loan to ICFe students at lower interest rates and without any security.

Mr. Krishnendu Dutta, Manager, Education Loans, HDFC says, "We believe that every student has the right to better his chances professionally and we are there to assist him in this endeavour. HDFC Education loans will provide an impetus to the ICFe initiative of training the students from the smaller cities and towns and from the lower income group".

However the applicants would have to fulfill the norms laid up by HDFC to avail a loan. The eligibility criteria is very simple and as per the usual practice and policy like handling enquires on credit documentation, collection of loan application and requisite enclosures, documents verification, execution of loan agreement from the students of ICFe. Above ICFe would evaluate student's capacity before giving a recommendation for a loan from HDFC Bank.

ICFe imparts training in the fields of Accounting, Banking, Insurance and Financial Services and has 60 centers running across the country in the states of Haryana, Punjab, Himachal Pradesh, Uttar Pradesh, Rajasthan and Delhi-NCR region. The institute recently inaugurated its 60th centre at Naraingarh. Honourable Deputy Chief Minister, Haryana Government, Sh. Chander Mohan inaugurated the ICFe centre and lauded the efforts of ICFe in setting up its center at Naraingarh by saying that places like Naraingarh remain out of horizon of companies till organisations like ICFe discover the huge potential in small towns.


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