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.Apply Now
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.
|Interest Rate||starts at 11.00%|
|Loan Amount (Collateral)||₹1.5 Cr|
|Loan Amount (Without Collateral)||₹75 Lac|
|Loan Amount (Minimum)||₹1 Lac|
|Processing Time||12 working days|
|Loan Tenure||up to 15 years|
|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|
Here are the documents required for Education Loan by HDFC Credila for Applicants and Co-Applicants
You can contact us anytime to apply for an Education Loan or to resolve your doubts