Credenc is a unique platform to finance meritorious students for their college fee expenses by underwriting their employability, rather than the means available to their families.

Loan Margin: NIL
Processing Fees: 1.0% to 1.5% of Loan Amount

Credenc, founded in 2017, is a one-of-a-kind platform that subsidises worthy students' education expenses rather than their parents' financial resources. It is a cutting-edge startup at the interface of education and financial technology. The fintech platform assists outstanding and deserving students in financing their educational expenses by evaluating their employability rather than their parents' societal status or financial capabilities. Credenc education loans are available for study abroad, studying in India, up-skilling, and reskilling courses.

Features Of Credenc Abroad Education Loan

Sr. NoFeaturesEducation Loan Details
1Loan amountUpto ₹1Cr (Collateral) Upto ₹50Lac (Without Collateral)
2Margin moneyNil
3Interest rateThe university of choice, the course, the destination country, GRE scores, overall academic excellence, the student's job experience, loan tenure, and other factors all have an influence on the Credenc education loan interest rate. The interest rate varies from 11% to 14% for a Credenc Education Loan depending on the course and country chosen by the applicant.
4Processing fee1.0% to 1.5%
5Processing time2 Working Days
6Loan tenure12 Years
7Prepayment chargesNil
8Countries coveredUSA, Canada, UK, France, New Zealand, Australia, Germany and others

Benefits of Credenc Abroad Education Loan

A Complete Digital Process
As a digitally-enabled platform, Credenc enables students to secure their education loans through a digital and paperless process in the comfort of their homes. Students do not have to visit the branch physically and can upload their documents online.
Quick Loan Approval
Get your Credenc education loan approved within a day’s time. Unlike the traditional approach, with UniCreds, you can rest assured of quick and hassle-free loan approvals.
No Collateral Required
Students can apply for an unsecured Credenc student loan of up to 50 lakhs. If eligible, students do not have to provide collateral.
Competitive Interest Rates
Credenc offers attractive interest rates to make education more accessible for all students, allowing them to achieve their goals.

Benefits Of Getting Your Credenc Abroad Education Loan Through UniCreds

Higher Chance Of Approval
By applying for your education loan through UniCreds, you are increasing your chances of approval. Generally, banks dismiss applications if they find any missing documents, property issues, or any other problem. With UniCreds, we will immediately reach out to Credenc officials and find the best solution.
Online Submission Of Documents
With UniCreds, you can submit all the required documents from home! There won’t be any need to visit the branch. Simply head over to our website and submit all the documents there. There won’t be a possibility of not submitting an essential document, as our system is designed to ensure all essential documents required For a Credenc Student Loan are submitted. You also get stepwise updates via notifications.
No Cost To You
All our education loan services are completely free of cost.
Quicker Sanctions
Our strategic partnerships ensure low turnaround time. Expect to have your education loan processed and sanctioned within 5 days.

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.

MonthOpening Balance (₹)Interest Paid (₹)Principal Repaid (₹)Closing Balance (₹)
Opening Balance (₹)
Interest Paid (₹)
Principal Repaid (₹)
Closing Balance (₹)
Opening Balance (₹)
Interest Paid (₹)
Principal Repaid (₹)
Closing Balance (₹)
Opening Balance (₹)
Interest Paid (₹)
Principal Repaid (₹)
Closing Balance (₹)
Opening Balance (₹)
Interest Paid (₹)
Principal Repaid (₹)
Closing Balance (₹)
Opening Balance (₹)
Interest Paid (₹)
Principal Repaid (₹)
Closing Balance (₹)

Eligibility Criteria For Credenc Abroad Education Loan

You are eligible to apply for the Credenc Education loan only if you’ve met the following requirements:

  • The applicant must be an Indian national.
  • Students seeking admission to master's programmes must have completed a three-year graduate degree in any field. Several Indian master's degrees, such as the M.A. and M.Sc., are also approved for postgraduate enrollment. He or she should also have a legitimate scorecard (GRE, GMAT, TOEFL, IELTS, etc).
  • According to RBI standards, there is no upper age limit for applicants, but some banks may impose one. As a result, the candidate must be between the ages of 16 and 35.
Sr. NoTypeRequirement
1Eligibility For Credenc Education Loan1. An applicant should be between the age of 17-35 years to apply for Credenc Education Loan 2. The applicant should be an Indian Citizen or Overseas Citizen of India (OCI)/Person of Indian Origin PIO Card Holder 3. An applicant’s co-borrower can be a parent, sibling, spouse, uncle, aunt, or any other blood relative
2Eligible Countries for Credenc Student LoanThe eligible countries for Crendenc student loans are listed below. These are the prime destinations where students choose to study abroad. Check them out! 1. USA 2. Canada 3. UK 4. France 5. New Zealand 6. Australia 7. Germany and more

Documents Required for Credenc Abroad Education Loan

When applying for a Credenc student loan, the following documents will be expected from the applicant as well as the co-applicant -

Sr. NoTypeDocuments Required
1For Students1. Pan Card / Aadhar Card 2. ID Proof 3. Proof of Address 4. Academic documents such as mark sheets, certificates of 12th exam, and certificates of Subsequent Years of Education e.g. BE, B. Com, and BSc. 5. Proof of Admission
2For Co-applicantPan Card / Aadhar Card ID Proof Proof of Address
3If salaried1. 3 months' latest salary slips 2. 6 months' latest salary account statements 3. 1-year latest Form 16 or ITR
4If self-employed1. Relationship proof (with the applicant) 2. Business proof (GST certificate, or Business registration copy) 3. 2 years latest ITR with computation 4. 6 months saving account statement & current account (if the person has one) 5. Contact details 6. Ownership proof (address verification)
5For Parents1. Identity Proof (Pan card, or Aadhar card) 2. Contact details

Loan Repayment For Credenc

  • Whether you accept an Indian or overseas education, the repayment period is fixed at 15 years from the onset of repayment.
  • Education loan payments typically begin one year after the completion of the six-month term after employment, whichever comes first.
  • The loan's first instalment will be paid, and interest repayment will begin immediately.

How To Apply For Credenc Abroad Education Loan?

Credenc attempts to simplify the loan application and approval process by remaining transparent and straightforward. Following are the steps to apply for a Credenc education loan -

  1. Once you've verified your eligibility, you may start your application. Students can apply online or request a call from one of our expert student loan consultants. 
  2. Our skilled counsellors can help you get a Leap Finance loan. Prior to submitting the form, our counsellors will thoroughly review your profile depending on your eligibility.
  3. UniCreds lets students submit documents online, eliminating the need to submit your documents at the bank and allowing you to do so from the comfort of your own home.
  4. Furthermore, UniCreds provides you with a customised set of documents depending on your profile and the loan you've applied for in order to expedite the process.
  5. Once the documentation and application are verified to be free of errors, the loan is accepted and ready for sanction.
  6. After obtaining the permission letter, the student and co-applicant must execute the loan agreement within the 6-month validity term of the sanctioning letter.
  7. After signing an agreement, the student is authorised to receive loan payments.
  8. UniCreds ensure that the lender will then deposit the funds into your bank account or into the university's account.

Frequently Asked Questions

How many co-applicants can there be for a Credenc education loan?
Credenc allows a maximum of 5 co-applicants.

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