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 for abroad that’s tailored to your requirements today!
HDFC Credila Financial Services, India's first specialist education loan lender, offers education loans under the name HDFC Credila Education loan for students wishing to study abroad at over 1000 universities in at least 35 countries. What distinguishes HDFC Credila is its personalised education loan options that take into account the applicant's course and country preferences. Students who want to study in the country or abroad can get an education loan from HDFC Credila, a subsidy firm of HDFC Limited. HDFC Credila, the country's first dedicated education loan lender, offers income tax advantages under Section 80E of the Income Tax Act. You can borrow up to 100% of your educational expenditures.
HDFC Credila acknowledges that the work we do at UniCreds is consistent with the company's mission and objectives. The collaboration between HDFC Credila and UniCreds is a new ray of hope for students looking for low-cost education loans to study abroad as soon as possible and in the most convenient way imaginable.
Sr. No | Features | Education Loan Details |
---|---|---|
1 | Loan amount | Upto ₹50Lac (Without Collateral) Exceptional cases - up to 1 Crore. |
2 | Margin money | Nil |
3 | Interest rate | The HFC Credila education loan interest rates and charges are mentioned below: Rate of Interest - The interest rate is a floating rate related to HDFC Credila's Benchmark Lending Rate (CBLR). CBLR is currently 12.55% per annum. Processing Fee - 1.0% to 1.2% of Loan Amount Pre-payment charges - Every fiscal year, the borrower has the option to pay up to 25% of the starting principal due without incurring any fees. |
4 | Processing fee | 1.0% to 1.2% |
5 | Processing time | 12 Working Days |
6 | Loan tenure | 14 Years |
7 | Prepayment charges | Nil |
8 | Repayment holiday | Interest to be paid during the moratorium period. EMI starts after the completion of course + 6 months. |
9 | 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 |
10 | Payment study period | Yes, simple interest. For selected good profile, partial interest repayment available. |
HDFC Education Loan benefits are profitable not only for students but also for their parents. Let us see some of the prime benefits of the HDFC Education Loan.
Benefits for Students
Benefits for Parents
Calculate EMI for Education Loan
Loan Amount
Interest (p.a)
Loan Duration
Course Duration
Grace Period
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 (₹) |
You are eligible to apply for the HDFC student loan only if you’ve met the following requirements:
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. |
Once you meet the HDFC Credila Education loan eligibility; below are the documents required for HDFC Education Loan
Sr. No | Type | Documents Required |
---|---|---|
1 | Identity Details | 1. Permanent Account Number (PAN) Card 2. Voter’s ID Card 3. Passport 4. Driving License 5. Aadhaar Card |
2 | Academic Documents | 1. Marksheet/Certificate of 12th Exam 2. Marksheet/Certificate of Subsequent Years of Education e.g. BE, BCom, BSc, etc. 3. Marksheet of Any Entrance Exam Taken e.g. CAT, CET, GRE, GMAT, IELTS, TOEFL, etc. (If applicable) 4. Scholarship Documents (if applicable) |
3 | Financial Documents | 1. (If more than one bank account, provide copies of all) 2. Make sure to include the bank statements of the Bank Account where Salary or Business professional receipts are credited every month |
4 | Income Proof of Co-Applicant | A) For Salaried Employees (All the following) 1. The most recent three salary slips or salary certificate on employer letterhead 2. Employer Form 16 from the last two years or Income Tax Returns from the previous two years 3. Any Other Income Proof Not Included in the Above Documents B) If you are self-employed or a professional (All the following) 1. Income Tax Returns for the Previous Two Years 2. CA-Certified Financial Statements or Provisional Financial Statements for the Previous Two Years (any one of the following, Lease Deed, Utility Bill, Title Deed, etc.) 3. Any Other Income Proof Not Included in the Above Documents |