HDFC Credila is an NBFC regulated by RBI to provide Education Loans. They finance up to 100% of costs, including living expenses, and have the best tax benefits. While applying for an HDFC Credila Education Loan through Abroad Cube, you are eligible for up to Rs 10,000 cashback.
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The HDFC Credila provides education loans to students intending to study in India and abroad. They have a high bar of ₹1.5 Crore on the loan amount if a Collateral is backed and ₹75 Lakh for non-collateral cases. They have a Zero margin policy for Collateral and Non-collateral cases, so they finance up to 100% of your expenses. HDFC Credila is the only NBFC eligible for providing Tax Benefits to applicants or co-application on the education loan. Being a digital company, you can expect faster processing of your application and sometimes less than a week.
Feature | Details |
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Interest Rate | starts at 11.00% |
Loan Amount (Collateral) | ₹1.5 Cr |
Loan Amount (Without Collateral) | ₹75 Lac |
Loan Amount (Minimum) | ₹1 Lac |
Processing Fees | 1% |
Processing Time | 12 working days |
Loan Tenure | up to 15 years |
Margin | Zero |
Prepayment Charges | Zero |
Moratorium Period | 12 months |
Countries | USA, Canada, Australia, UK, Germany & Others |
HDFC Credila has a Zero margin policy that covers college-related and additional expenses.
HDFC Credila has a higher limit of ₹1.5 Cr on Collateral based loans and ₹75 Lac on Non-Collateral. The loan amount depends on the applicant's profile and choice of institution.
The rate of interest charged by HDFC Credila is CBLR + Spread rate. The current CBLR of HDFC Credila is 12.30% (w.e.f Nov 2022), and the spread rate depends on the applicant's profile and the value of the collateral.
The HDFC Credila Financial Services is RBI-approved NBFC authorized to provide education loans to India- and abroad-based students.
HDFC Credila provides a grace period of 12 months after the completion of the study for the initialization of Loan repayment.
HDFC Credila grants education loans for a period of up to 15 years, and it includes the duration of the course, a grace period after study, and a Repayment period. You can repay earlier and save on interest charges with Zero pre-closure charges.
HDFC Credila is the only NBFC eligible for tax benefits on an education loan. You or your co-applicant can avail of the Tax Exemption under 80E on the interest paid upon an education loan.
The description of charges of HDFC Credila Education Loan
Description | Charges & Fees |
Processing Fee | 1% |
Life Insurance | Varies |
Here are the documents required for Education Loan by HDFC Credila for Applicants and Co-Applicants
Applicants | Co-Applicants | |
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Salaried | Self Employed |
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You can contact us anytime to apply for an Education Loan or to resolve your doubts