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HDFC Credila education loans provide flexibility in collateral security requirements with no upper limit on loan amount. Get long tenure loans resulting in easy EMIs. No margin money is required and tax benefits provided. Apply now through Creditmantri!
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Want to study further but need relatively low cost loans to help fund your studies? When looking at education loan offers of lenders, you are certain to come across HDFC Credila. HDFC Credila is a subsidiary of HDFC Bank and is a dedicated Education Loan Company. HDFC Credila offers customized loans to students to address the growing needs in the education loan sector. Today, with the growing costs of education, the expenditure on children's education often forms one of the highest components of outflow by the average household in India. Keeping this in mind, HDFC Credila funds students for higher education in both India as well as overseas.
HDFC Credila has a range of education loan offers depending on the country, institute, co-borrower details, collateral security offered and the academic background of the student. Read on to know more about HDFC Credila Education Loan offers!
Following are some of the unique features of an education loan from HDFC Credila:
If the lender finds you creditworthy and you have a clean credit history, then you might be approved for an education loan without the need for collateral/security.
With an education loan from HDFC Credila, you enjoy certain benefits:
You must be an Indian student looking to pursue higher studies, either in India or abroad, must have successfully passed higher secondary school with satisfactory grades.
HDFC Credila offers attractive interest rates on its Education loans. It depends on a host of eligibility criteria which might include but is not limited to – your credit worthiness, borrowing history and other factors that reflect your financial capability and behavior. It is best to contact HDFC Credila directly for the most up to date interest rates.
For the complete list of documents required, it is advisable to contact HDFC Credila directly. Following are some of the documents that are mandatory:
Do I need a co borrower in order to apply for an education loan from HDFC Credila?
Yes, having a co-borrower is mandatory. The Co-borrower should be an Indian citizen who would be able service the interest in the moratorium period comprising of the study period and grace period. In the event of the student’s inability to repay the loan, the co-borrower would repay the entire loan in installments or provide the collateral security. Ideally, he / she should be a family member.
When is the right time to apply for an education loan - before admission confirmation or after?
Students are encouraged to apply earlier on, as this would give them added advantage of having approved education loan (in case it is approved) at the time their admission application is considered by the university. Having funding can increase the chances of getting admission.
Can I apply for a loan before admission is guaranteed in my dream university abroad?
Yes, HDFC Credila offers loan sanction even before admissions.
The loan is approved as soon as you are found to be creditworthy, even before you are granted admission in a university. HDFC Credila simplifies quick completion of the formalities once the loan is approved. You can avail an Education loan from HDFC Credila and realize your dream of studying abroad or in a premier institution in India.
There are several ways to apply for an Education Loan from HDFC Credila:
Need help? If you think you need help with your HDFC Credila Education Loan Application and advice on loan eligibility, CreditMantri can guide you through the entire process and match you with the loan offer that best suits your profile.
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