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: 100%
Interest Rate: Starts @ 10.95%
Processing Fees: 1% 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 Education Loan

Sr No.FeaturesHDFC Credila Education Loan Details
1Education Loan Amount
  • Minimum Loan Amount - INR 1 Lakh.
  • Maximum Loan Amount- INR 40 lakhs (without collateral).
  • Exceptional cases - up to 1 Crore.
  • 2Interest Rates
  • 10.95% to 12.45%
  • 3Margin Money
  • 100%
  • Finance up to 100% of the expenses.
  • 4Processing Fee
  • 1% to 1.2% of loan amount.
  • 5Loan Tenure
  • 30
  • 6Prepayment Charges
  • N/A
  • 7Repayment Holiday
  • Interest to be paid during the moratorium period.
  • EMI starts after the completion of course + 6 months.
  • 8Countries Covered
  • More than 35 countries including US, Canada, France, Ireland, Dubai, Germany, Australia, Singapore.
  • 9Payments During Study Period
  • Yes, simple interest.
  • For selected good profile, partial interest repayment available.
  • 10Processing Time
  • 12 DAYS after documentation.
  • Benefits of HDFC Credila 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 Getting Your HDFC Credila 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 Education Loan

    Sr. NoConditions
    1Borrowers 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.
    2Disbursement of loan will require confirmed admission.
    3Co-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.

    How To Apply For HDFC Credila Education Loan?

      Go to the UniCreds website and check your loan eligibility or request a call back.
      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.
      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.
      Once the application is submitted along with all the documents, the application will be processed by the bank.
    What is HDFC Credila Education Loan Disbursement Process?
      After the loan is sanctioned and the agreement letter is signed by the applicant and co-applicant, HDFC Credila disburses the loan amount in INR.
      The tuition fee will be disbursed to the institution either directly or through an authorized servicer.
      The disbursals will be made as per the instalment requirements of the university.
      The loan amount for expenses other than the tuition fee will be disbursed over the year in instalments as per the HDFC Credila underwriting norms.

    Documents Required

    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. NoTypeDocuments Required
    1Applicant’s Documents
  • Identity Proof
  • Address
  • Past Academic Record
  • 2Co-Applicant’s Documents
  • Identity Proof
  • Address
  • Financial
  • After evaluating your profile, UniCreds will present you with a customized documents list and then initiate the loan process with HDFC Credila. If some documents are missing, then we will suggest alternatives to get your loan sanctioned on time.

    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.