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HDFC Credila - Education Loan

NBFC

Collateral free loans available

Loan Margin : NIL

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3 days avg loan processing time

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Margin

NIL

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Collateral

Collateral free loans available

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Loan Tenure

Upto 15 Years

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Processing fee

0.85% to 1.0%

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Early Repayment

Yes(without any charges)

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Living Cost

Yes

Secured Loan

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Amount

No limit

Un-Secured Loan

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Amount

Up To 75Lac

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UniCreds Guarantee

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Quick Loan Sanctions

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100% Transparency

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No Hidden Fees

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24x7 Support

Key Features

While the overview highlighted the overall value proposition, let's delve into the specifics of HDFC Credila's study abroad loan program. In this section you’ll discover its interest rate, processing fee and others.

FeaturesEducation Loan Details
Loan amountUpto ₹75Lac (Without Collateral) Secured Loan - No Limit on loan amount Unsecured Loan - Upto 75 Lakh
Margin moneyNil
Processing fee0.85% to 1.0%
Processing time3 Days
Loan tenure15 Years
Prepayment chargesNil
Repayment holidayFor principal payment, 6 months after course completion.
Countries coveredHDFC Credila offers to study in over 59+ different countries across the world including the USA, Canada, the UK, Germany, Australia, Singapore, France, etc
Payment study period1. Yes, Partial Interest, Simple Interest, Direct EMI. 2. For selected good profile, partial interest repayment available.

Looking forSparkLogoFaster and
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Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.

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Eligibility Requirements

Applicants must consider HDFC Credila education loan eligibility before they apply for the program:

 

TypeRequirement
CitizenshipBe an Indian citizen with a co-applicant who is also an Indian citizen.
Academic BackgroundShould have graduated from the recognised universities as per criteria of HDFC Credila
Financial standingYou will require a co-applicant whose income remains stable and with a good credit history to prove your capability in repaying the loan. This co-applicant can be anyone from your close or extended family members

Benefits

Comprehensive Expense Coverage
Unlike some lenders, HDFC Credila goes beyond just tuition fees. The students' loan also covers a wide range of expenses, including living costs, travel tickets, books, equipment, and even examination fees.
Competitive Rate of Interest
HDFC Credila offers one of the most competitive rates of interest starting from 10.25%*, saving a huge amount compared to other lending bodies, hence leading to lower monthly payments and leaving you with a lighter financial burden upon completion of your course.
Expedited Approval In Emergency Cases
In the event of an emergency, our express approval service can enable you to get your loan approved in 7* working days. If you have a tight deadline and need to fulfill formalities such as VISA or fee payment, our experts can assist you in getting your loan processed as quickly as possible.
Assistance During Loan Disbursements
Applying with us ensures assistance at every stage. We will support you till the complete loan amount is released and ensure that all disbursements are made on schedule.
Pre-Visa Loan Disbursement
In some countries, loan disbursement must occur prior to the issuance of a visa. We will make possible 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.
Flexible Repayment Options
At peace all through the years of study, HDFC Credila offers one of the most flexible repayment options for educational loans up to 15 years*
Unique Tax Benefits
What makes HDFC Credila unique as compared to other NBFCs is that it allows you to avail tax deductions against section 80E of the Income Tax Act on the amount paid towards interest on your loan, helping you in saving real money.
Pre-admission Sanction
The HDFC Credila student loan has a unique characteristic in that it can be sanctioned even before you receive your acceptance letter! If you apply for a loan with us 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.

HDFC Credila education loan program offers a comprehensive set of product features that shall help students minimize the cost hurdle in pursuing international education. This now breaks down to the following major benefits:

Benefits Of Applying through Us

Decode the Eligibility criteria
Know the eligibility criteria of a plethora of lenders. We can help you decode HDFC Credila requirements and any specific needs. We may advise you on your profile based on your financial background and academic goals, so as to provide you with the best lender from within our network and that includes HDFC Credila.
Application Support
Very likely, in the process of applying for an education loan, there are documents to be collected and different forms to be manoeuvred through. Making this simple by walking you through an application with the bank
Resourceful Connection
We give access to more than just one lender. With the All-in-One Platform, you can look into loan comparison tools, scholarship opportunities, financial planning tips, and much more under one roof. Explore all your financing options for studying abroad at the junction of one decision.
Low Turnaround Time
Get a decision on your loan application real quick. We understand the value and importance of timely funding in your pursuit of education abroad
100% Free Cost of Services
No charges or fees are hidden while using any of the services provided by us. We help you provide the best loan option without any extra financial burden.
Approval Probability
Our professional advice and personal approach help secure your chances for the loan to let you study further.
Additionally at UniCreds
- Interest Rates starts at 9 percent* - You can save upto 20,000 INR* on Stamp Duty - Be Eligible for FlyHigh Scholarship worth 50L INR - Get loan disbursed in 48 hours*

Get Guidance at every step of your loan application

We ensure 100% transparency throughout the education loan process.Our education loan counsellors will stay by your side every step of the way.

Need Guidance Faster? Call us at:

phone

18001217661

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Need Guidance Faster? Call us at:

phone

18001217661

How To Apply?

The idea to fund your International Education with an HDFC Credila Education Loan opens up a world of possibilities before you. However, the process of applying also seems overwhelming. We make every step simple, ensuring that a learner has a smooth and stress-free journey. 

 

1. Free Eligibility Assessment and Consultation:

  • Online: Use our eligibility tool to see if you meet the basic eligibility criteria for the loan.
  • Consultation: Talk to a UniCreds advisor (via chat or by visiting us in Mumbai/Hyderabad offices) about your education plans and financial needs. Our counsellors can assess your eligibility and answer any questions you have about the loan.
     

2. Simplified Document Collection:

  • Document List: We will provide you with a complete list of all the documents required for the HDFC Credila loan application.
  • Gathering Documents: We’ll assist you in collecting all the necessary paperwork, making the process faster and smoother.
     

3. Error-Free Application Completion:

  • Application Assistance: We will guide you through the HDFC Credila application forms, ensuring you fill them out accurately and completely.
  • Review & Submission: We will review your completed application before submitting it to the bank to avoid any errors that could delay processing.

 

4. Follow-up & Communication:

  • Status Updates: We’ll further keep you informed about the progress of your loan application and handle communication with the bank on your behalf.
  • Further Assistance: You can visit our Mumbai/Hyderabad offices for personalised consultations and get answers to any questions you might have throughout the process.
     

5. Loan Approval & Disbursement Guidance:

  • Loan Terms Explained: An advisor will explain the loan terms and conditions offered by HDFC Credila in a clear and understandable way.
  • Disbursement Assistance: UniCreds will guide you through the steps required to receive the loan amount quickly and efficiently.

 

Looking forSparkLogoFaster and
streamlined Process?

100% Transparency

100% Free

unicreds

Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.

unicreds-scholar-girl

Documentation Required

Once you meet the HDFC Credila education loan eligibility, the following documents are required:

 

TypeDocuments Required
Personal Documents- Proof of Identity (Aadhaar Card, PAN Card, Voter ID, etc.) - Proof of Address (utility bills, rental agreement, etc.)
Academic Documents- Acceptance letter from your chosen university abroad - Most recent academic transcripts (including mark sheets and degrees) - Standardised test scores (if required by the university, like GRE, GMAT, TOEFL, IELTS)
Financial Documents- Income Tax Returns (ITR) of the applicant along with that of the co-applicant (if applicable), if any, for the last 3 years. - Revenue slips of the applicant and his/her co-applicant (if any) for the previous six months. - Bank statements of the applicant and (if applicable) the co-applicant for the last 6 months. - Expected cost of attendance statement sheet from your university (including tuition fees, accommodation, etc.)

Repayment Options

Fulfilling your international education dream with an HDFC Credila loan from UniCreds is a leap forward, but don't fear the repayment worries! We will be your constant support at every single step, assisting, ensuring the loan repayment journey goes on smoothly, without any hassle.

 

Flexible Repayment Options:

 

  • Study Focus: You'll have the flexibility of an interest-only loan while you study—a great way to give yourself a little extra financial headroom while you're hitting the books.
  • Repay Smartly: After the marked moratorium period post the graduation date, you would move to repayment of the principal with interest. UniCreds can help you understand the repayment schedule and explore options that fit your future income.

 

Focus on your bright future, let us navigate your HDFC Credila loan repayment. Contact us today!

 

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The displayed EMI amount is approximate & is subject to change based on various factors.

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Principal Amount
1,600,000
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Total Interest
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What our Students say about us

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Frequently Asked Questions

Yes, HDFC Credila was a subsidiary of HDFC Bank till July 2023. The bank is a respected financial institution approved by the RBI.
The interest rate can vary since it's floating. Usually, it's around 10-15% per year. Your rate depends on factors like academic record and loan amount.
Yes, HDFC Credila charges a processing fee which can range from 0.5% to 1%* of the total loan amount.
Yes, under Section 80-E of the Income Tax Act, one can deduct interest paid on an education loan.
HDFC Credila provides both secured and unsecured education loans. Amounts and criteria differ based on your choice.