HDFC Credia Education Loan For Abroad Study

Q: If no one stands as a guarantor for my situation, can I receive education loans?

As co-borrowers, you usually need family members. It depends again on the overall profile and the course of study you are involved in. For various study courses, they have separate product propositions.

Q: How much loan will I get from Credila's HDFC?

HDFC Credila is the only lender that not only funds up to 100% of tuition expenses, but also offers education loans in excess of Rs. 20 lakhs. What is more in addition to tuition costs? HDFC Credila also includes living expenses.

Q: Is there a tax benefit on the interest paid on the debt for education?

Under Sec 80-E of the Income Tax Act, any HDFC Credila Education Loan borrower or co-borrower (any one is entitled to benefit from tax advantages on interest charged on education loans). An individual may benefit from a tax benefit on interest payments on an education loan for himself or a parent, child or student for whom the person is a legal guardian.

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!

Loan Margin: NIL

Processing Fees: 1.0% to 1.2% of Loan Amount

HDFC Credila understands that the work we’re doing at UniCreds aligns with the vision and mission of the company. The partnership between HDFC Credila and UniCreds symbolises new hope for students who wish to secure low-cost HDFC Credila education loans for studying abroad in the quickest and most hassle-free way. HDFC Credila is India’s first-ever dedicated education loan company that specialises in quick collateral-free loans for domestic and overseas education. HDFC Credila Financial Services provides education loans to study abroad aspirants from more than 1000 universities across at least 35 countries.

Features Of HDFC Credila Abroad Education Loan

Sr. No	Features	Education Loan Details
1	Loan amount	Minimum Loan Amount - INR 1 Lakh. 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 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	USA, Canada, UK, Ireland, New Zealand, Australia, Germany and others
9	Payment study period	Yes, simple interest. For selected good profile, partial interest repayment available.

Benefits of HDFC Credila Abroad Education Loan

Zero-Margin Money; All Expense Covered

Since HDFC Credila education loans have zero margin money, you do not need to finance any part of the total expense involved in your abroad education journey. HDFC Credila Education Loans cover all the expenses incurred while studying abroad like tuition & accommodation costs, and caution deposit/building fund/refundable deposit.

Pre-admission Education Loan Sanction

HDFC Credila Education Loan has a unique feature where it sanctions the loan even before you receive your admission letter! In order to do this, Credila takes into account your GRE score. If you apply for an HDFC Credila Education Loan through UniCreds, be rest assured of this entire process being handled by us. In this way, you will be able to direct your focus entirely to writing your college application and preparing for admission interviews.

Express Approval In Urgent Cases

HDFC Credila education loans have an express approval facility that allows you to get your education loan sanctioned within 1-2 working days in case of urgent circumstances. In case you have to meet a deadline in completing formalities like VISA or fee payment at the earliest, you can reach us with your specific requirements, and we will get your loan sanctioned immediately.

Customization Options

One of the salient features of Credila Education Loans is that they provide customized loan solutions to students as per their chosen course or country. These customizations also allow for flexible repayment options, thus helping the students to pay off their EMIs as per their convenience and comfort. You can contact UniCreds to know the extent of customization possible. We will strive to serve all your requests and convey to you if they will be accepted by HDFC Credila or not.

Disbursement Assistance

UniCreds will assist you throughout the loan disbursement process of HDFC Credila Education Loan. Our educational loan counsellors are available 24/7 to help you whenever you need.

Pre-Visa Loan Disbursement

There are certain countries where the loan disbursement needs to be done before Visa. UniCreds will ensure that students get the money as per the requirements. We will take all the necessary approvals beforehand so that you don't have to worry about your finances and visa.

Tax Benefit Under Section 80-E

By going ahead with an HDFC Credila Education Loan, you are entitled to tax benefits on the interest paid on education loan as per the section 80-E of the Income Tax Act.

Flexibility For Co-borrower

HDFC Credila Education Loan provides customized repayment solutions for the co-borrower and also imposes fewer restrictions on who the co-borrower can be compared to other education loans. For instance, if your father or relative works abroad, he/she can be a co-borrower/guarantor. For him/her to be the co-borrower/guarantor, he/she should have an NRI account, and most importantly, the collateral should be in India. You will require an additional co-borrower in both cases.

Benefits of HDFC Credila Education Loan

Benefits Of Getting Your HDFC Credila 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 HDFC Credila 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 are submitted.

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 3-4 working days.

Eligibility Criteria For HDFC Credila Abroad Education Loan

Sr. No	Type	Requirement
1	Eligibility Criteria For HDFC Credila Education Loan	1. Borrowers and co-applicants should be Indian citizens. Co-borrowers are required to have a bank account in India. Co-applicants(s) must be an Indian citizen. 2. Disbursement of loan will require confirmed admission. 3. Co-applicant needs 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.

Documents Required for HDFC Credila Abroad Education Loan

For HDFC Credila Education loans, UniCreds provides you with a customized documents list that depends on your profile, your co-applicant’s profile and any property/asset, which you may offer as collateral. However, at a higher level, the following documents will be needed:

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

How To Apply For HDFC Credila Abroad Education Loan?

1. Go to the UniCreds website and check your loan eligibility or request a call back. 2. An education loan counsellor from UniCreds will contact you and make a note of all your requirements. After analyzing your profile, we will check if you are eligible for an education loan from HDFC Credila and will connect you with the lender. 3. Upload all the required documents online. At this stage, we intervene and ease the process for you by generating a list of the documents that you will need to submit along with your application. This way, you will not miss out on any documents, which will help your applications to get processed faster. 4. Once the application is submitted along with all the documents, the application will be processed by the bank

Frequently Asked Questions

What is the loan procedure for education at HDFC Credila?

HDFC Credila has a student-friendly application process for a 3-step education loan: Step 1: Convenient method for applications Create an online application at www.hdfccredila.com. To access the door step service, call/SMS/email. Visit the closest subsidiary office Step 2: Minimum documentation Submit HDFC Credila one page application form & documents. Avail door-step service for the compilation of papers, or Submit the documents at the branch office of the nearest HDFC Credila/ HDFC Ltd. Step 3: Quicker approvals & disbursement of loans Quick approval of loans after completion of all formalities. Collect your loan at the Credila HDFC office. HDFC Credila has a loan application form that is quick, easy and hassle-free.

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?

Features

Benefits

Eligibility

Documents

How to apply

FAQs