HDFC Credila – How to Apply Education with HDFC Credila – No1 Education Loan NBFC in India – Credila
HDFC Credila is India’s first-ever dedicated education loan company. Over the years, HDFC Credila has invested time and resources to set up appropriate systems, processes and know-how related to the education industry and has numerous databases on the education sector. Get an HDFC Credila education loan that’s tailored to your requirements today!
HDFC Credila is India’s first specialised education loan firm, specialising in fast, no-collateral loans for both local and international students. HDFC Credila Financial Services offers education loans to students interested in studying abroad at over 1000 universities in at least 35 countries. HDFC Credila recognises that the work we undertake at UniCreds is in line with the company’s vision and objectives. The collaboration between HDFC Credila and UniCreds is a fresh ray of light for students looking for low-cost HDFC Credila education loans to study abroad in the quickest and most convenient way possible.
Features Of HDFC Credila Abroad Education Loan
| Sr. No | Features | Education Loan Details |
|---|---|---|
| 1 | Loan amount | Maximum Loan Amount- INR 50 lakhs (without collateral). Exceptional cases – up to 1 Crore. |
| 2 | Margin money | Nil |
| 3 | Processing fee | 1.0% to 1.2% |
| 4 | Processing time | 12 Working Days |
| 5 | Loan tenure | 14 Years |
| 6 | Prepayment charges | Nil |
| 7 | Repayment holiday | Interest to be paid during the moratorium period. EMI starts after the completion of course + 6 months. |
| 8 | Countries covered | HDFC Credila offers abroad education loans to study in over 35+ different countries across the world including the USA, Canada, the UK, Germany, Australia, Singapore, France, etc |
| 9 | Payment study period | Yes, simple interest. For selected good profile, partial interest repayment available. |
Benefits of HDFC Credila Abroad Education Loan
No Margin Money
Customization Options
Expedited Approval In Emergency Cases
Assistance During Loan Disbursements
Pre-Visa Loan Disbursement
Flexibility For Co-Borrower
Income Tax Benefits
Pre-admission Education Loan Sanction
1. No Margin Money 2. Customization Options 3. Expedited Approval In Emergency Cases 4. Assistance During Loan Disbursements 5. Pre-Visa Loan Disbursement 6. Flexibility For Co-Borrower 7. Income Tax Benefits 8. Pre-admission Education Loan Sanction
Benefits Of Getting Your HDFC Credila Abroad Education Loan Through UniCreds
Higher Chance Of Approval
Online Submission Of Documents
No Cost To You
Quicker Sanctions
Eligibility Criteria For HDFC Credila Abroad Education Loan
| Sr. No | Type | Requirement |
|---|---|---|
| 1 | Eligibility Criteria For HDFC Credila Education Loan | You are eligible to apply for the HDFC student loan only if you’ve met the following requirements: For the borrower – The student applying for the Education Loan should be an Indian citizen, 18 years old or above. The student should be enrolled in a recognised institution as a full-time student. An earning co-borrower in India should co-sign the Education Loan. For the co-borrower – Co-borrowers are required to have a bank account in India. Co-applicant(s) must be Indian citizens. Co-applicant need to show proof of earning based in India. A co-applicant can be any of the following relatives – Father / Mother / Brother / Sister (married) /Spouse/ Father-in-law/ Mother-in-law/ Sister-in-law/ Brother-in-law/ Maternal or Paternal Uncle or Aunt/ Grandparents & First Cousins. |
| 2 | Eligible Courses | All full-time courses from recognized colleges and universities in all major countries like the USA, the UK, Canada, Singapore, Australia, Germany, France, etc. |
| 3 | Eligible Countries | HDFC Credila offers abroad education loans to study in over 35+ different countries across the world including the USA, Canada, the UK, Germany, Australia, Singapore, France, etc. |
Documents Required for HDFC Credila Abroad Education Loan
| Sr. No | Type | Documents Required |
|---|---|---|
| 1 | Applicant’s Documents | 1. Identity Proof 2. Address 3. Past Academic Record |
| 2 | Co-Applicant’s Documents | 1. Identity Proof 2. Address 3. Financial |
Loan Repayment For HDFC Credila
The HDFC Education Loan terms and conditions state that repayment of the principal amount begins six months after course completion or when the student obtains employment, whichever comes first. Until then, the student just needs to pay a portion of the interest on the amount that has been utilised. The repayment options for HDFC Education Loans are flexible and adjustable.
How To Apply For HDFC Credila Abroad Education Loan?
1. After you’ve checked your eligibility with UniCreds, you can apply online or request a callback from one of our expert education loan counselors. 2. The education loan consultant will call you and note down all of your requirements. We will verify if you are qualified for an education loan from HDFC Credila after assessing your profile and will connect you with the lender. 3. All essential documents must be uploaded digitally. At this point, we step in to help you through the process by providing a list of the documents you’ll need to submit with your application. This way, you won’t overlook any paperwork, which will speed up the processing of your applications. 4. The lender will process the application once it has been submitted with all of the required papers.
Frequently Asked Questions
What is the loan procedure for education at HDFC Credila?
If no one stands as a guarantor for my situation, can I receive education loans?
How much loan will I get from Credila’s HDFC?
Is there a tax benefit on the interest paid on the debt for education?
