Credenc, which was established in 2017, is a one-of-a-kind platform that finances deserving youngsters' university expenditures by underwriting their employment rather than their families' financial resources. With its future income prediction algorithm, Credenc is disrupting the domestic higher education finance sector, ensuring that our country's top students do not go without funds for their university education. Students who wish to study abroad or want to pursue higher education can opt for a Credenc education loan. This Credenc loan was established to ensure that students do not miss out on giving wings to their dreams of higher education studying.
Features Of Credenc Abroad Education Loan
| Sr. No | Features | Education Loan Details |
|---|---|---|
| 1 | Loan amount | Upto ₹1Cr (Collateral) Upto ₹50Lac (Without Collateral) |
| 2 | Margin money | Nil |
| 3 | Processing fee | 1.0% to 1.5% |
| 4 | Processing time | 2 Working Days |
| 5 | Loan tenure | 12 Years |
| 6 | Prepayment charges | Nil |
| 7 | Countries covered | USA, Canada, UK, France, New Zealand, Australia, Germany and others |
Benefits of Credenc Abroad Education Loan
Approval Probability Is Increased
Documents Can Be Submitted Online
Assistance During Loan Disbursements
1. Easy application process and full coverage. 2. Easy repayment structure depending on course and profile.
Benefits Of Getting Your Credenc Abroad Education Loan Through UniCreds
Higher Chance Of Approval
Online Submission Of Documents
No Cost To You
Quicker Sanctions
Calculate EMI for Education Loan
Loan Amount
Interest (p.a)
Loan Duration
Course Duration
Grace Period
Monthly EMI
Principal Amount
Total Interest
Total Amount
Loan Amortization Schedule
Following table show the year wise payment schedule.
| Month | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
|---|---|---|---|---|
Month 1 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 2 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 3 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 4 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 5 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Eligibility Criteria For Credenc Abroad Education Loan
| Sr. No | Type | Requirement |
|---|---|---|
| 1 | Requirement: | 1. GRE/GMAT or equivalent test score 2. Overall student profile (10th, 12th, graduation scores, work experience, etc.) 3. Co-applicant financials |
Documents Required for Credenc Abroad Education Loan
| Sr. No | Type | Documents Required |
|---|---|---|
| 1 | For Applicants: | KYC documents like Aadhaar card or PAN card Academic documents like SSC, HSC, Graduation, etc A valid passport |
| 2 | Credenc Education Loan For Undergraduate Courses | 1) Updated Resume 2) Passport Size photo (Virtual Copy) 3) Copy of Passport 4) Copy of PAN Card & Aadhaar Card 5) Address proof of permanent residence 6) Academic Credentials (10th, 12th, Graduation) 7) Copy of admit letter from the college 8) Fee structure from the college 9) If the applicant has received any scholarship/ fellowship or financial aid, the letter for the same |
| 3 | Credenc Education Loan For Postgraduate Courses | 1) Updated Resume 2) Copy of Passport 3) Copy of PAN Card & Aadhaar Card 4) Address proof of permanent residence 5) Academic Credentials (10th, 12th, Graduation) 6) Copy of admit letter from the college 7) Fee structure from the college 8) If the applicant has received any scholarship/ fellowship or financial aid, the letter for the same 9) Last Form 16 (If working) 10) Last Company Payslip 11) If working, Company ID card or Offer Letter 12) Exit/Resignation Letter from the previous company if you are not working anywhere 13) Passport Size photo (Virtual Copy) |
Loan Repayment For Credenc
1. The payback time is limited to 15 years from the start of repayment, whether you accepted an Indian or an international course. 2. Education loan repayment typically starts one year after the end of the six-month period following work, whichever comes first. 3. The very first instalment of the loan will be disbursed, and interest repayment will commence instantaneously. 4. The repayment options for Credenc Education Loan are flexible and adjustable.
How To Apply For Credenc Abroad Education Loan?
1. Apply Online & Upload Your Documents You can begin your application after you've verified your eligibility. Students can apply online or receive a callback from one of our expert student loan advisors. Our knowledgeable counsellors can assist you in obtaining a Credenc Loan without or with collateral, depending on your circumstances. Our counsellors will completely evaluate your profile after you've changed your profile information and, based on your eligibility, will recommend the next set of activities to you. 2. Processing and Approval Once you've uploaded/submitted the necessary documentation, you can send your loan application and related paperwork to Credenc for examination and real-time approval. UniCreds will communicate with the Credenc loan department on a regular basis to keep track of your application's status and guarantee that it is addressed as quickly as possible. If there are any significant revelations, our website will keep you informed. Applicants should be informed that the lender may approach them at this time to ask for additional documentation to substantiate their loan application. Applicants will get these precise requirements from UniCreds. If a demand is made that is unreasonable, we shall report it to the Credenc loan authorities. The loan is accepted and ready for sanction once the papers and application are verified to be free of errors or additional loopholes. 3. Loan Sanction And Disbursal After receiving the approval letter, the student and co-applicant must sign the loan agreement within the sanctioning letter's 6-month validity period. The student is authorised to loan disbursement after entering into an agreement. The lender will transfer the necessary funds into your bank account or into your university's/account. We discuss with the Credenc loan team and get everything done if the student wants disbursement prior to the visa as per the visa office's guidelines. UniCreds will also ensure that disbursements are made on time, and students can contact UniCreds at any time during the loan's term.