HDFC Credila Education Loan - Features, Benefits, Eligibility & How To Apply

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 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	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	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

You would not have to fund any part of the entire cost of your study overseas since HDFC Credila education loans have no margin money. Credila education loans cover all of the costs of studying abroad, including tuition and living fees, as well as a caution deposit/building fund/refundable deposit.

Customization Options

Credila Education Loans are distinguished by the fact that they provide students with tailored loan options based on their selected course or country. These adjustments also allow for flexible repayment choices, allowing students to pay off their EMIs whenever and wherever they choose. You can get in touch with UniCreds to learn more about the customising options available. We will make every effort to fulfil all of your demands and inform you whether or not they will be approved by HDFC Credila.

Expedited Approval In Emergency Cases

In the event of an emergency, our express approval service can enable you to get your loan approved in as little as 1-2 working days. If you have a tight deadline and need to fulfil formalities like VISA or fee payment as soon as possible, contact us with your specific needs and we'll get your loan approved right away.

Assistance During Loan Disbursements

In some countries, loan disbursement must occur prior to the issuance of a visa. UniCreds will make certain that students receive their funds in a timely manner. We will obtain all essential clearances ahead of time so that you do not need to be concerned about your funds or visa.

Pre-Visa Loan Disbursement

Flexibility For Co-Borrower

In comparison to other education loans, the HDFC Credila Education Loan offers personalised repayment alternatives for the co-borrower and places fewer limits on who the co-borrower might be. If your parent or a relative works overseas, for example, he or she might be a co-borrower/guarantor. He or she must have an NRI account and, most significantly, the collateral must be in India for him or her to be the co-borrower/guarantor. In both circumstances, you'll need an extra co-borrower.

Income Tax Benefits

If you take up an HDFC Credila Education Loan, you will be eligible for tax benefits under section 80-E of the Income Tax Act on the interest you pay for the loan.

Pre-admission Education Loan Sanction

The HDFC Credila Education Loan has a unique characteristic in that it can be sanctioned even before you receive your acceptance letter! Credila takes your GRE score into consideration in order to do so. If you apply for an HDFC Credila Education Loan with UniCreds, you can be certain that we will manage the whole procedure for you. You will be able to devote all of your attention to writing your college application and preparing for entrance interviews in this manner.

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

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	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?

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

Loan Repayment

How to apply

FAQs