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| Interest Rate | Starts at 10.5% |
| Loan Amount (Collateral) | Upto ₹75 Lac |
| Loan Amount (Without Collateral) | Upto ₹150 Lac |
| Processing Fees | starts 1% |
| Processing Time | 3 working days |
| Loan Tenure | up to 14 years |
| Margin | 100% Funding |
| Prepayment Charges | Zero |
| Moratorium Period | Course + 1 year |
| Admit Letter | Not Required |
| Tax Benefits | Yes |
| Type | NBFC |
| Life Insurance | Required |
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.
HDFC Credila provides an Unsecured Education Loan for up to Rs 75 Lacs for Study Abroad. The key features are Pre-Visa Disbursement and the wide acceptance of Co-Applicant incomes and serviceable areas. They charge a competitive processing fee of 1% with discounts on most occasions.
| Maximum Amount | Rs 75 Lacs |
| Interest Rate | 11.25% |
| Processing Fees | starting 1% |
| Admit Letter | Not Required |
| Co-Applicant | Parents, Siblings, Uncle-Aunties, Cousins |
Here is the basic Eligiblity Criteria for Study Abroad Education Loan by HDFC Credila.
The HDFC Credila covers almost all expenses that are expected to be incurred during the proposed study
The Cost of necessary Insurance is covered in a Sanctioned Amount and is deducted from the Disbursed Loan amount itself.
Here is the list of basic charges involved in HDFC Credila Study Abroad Education Loan
| Description | Charges & Fees |
|---|---|
| Processing Fees | 1% |
| Life Insurance | Varies |
| Travel Insurance | Varies |
| Collateral Valuation (if applicable) | Free |
During the Agreement process, the HDFC Credila team will assist you with a Savings Account Opening at HSBC Bank to disburse the Sanctioned amount. Based on the Student's request and requirement, the Credila team will transfer the amount to the University, College, or any other institution. The Living Expenses will be provided as a Forex Card or remitted to a Foreign Account. The HDFC Credila offers complete flexibility in disbursing the amount before Visa Approval.
If you have already paid the Tuition Fees or a Tuition Deposit from your savings and need a reimbursement, you must go to your Banking Representative and submit the required documents. At the lender's discretion, the amount will be released into the savings account or transferred to the Student's foreign account.
Our Education Loan EMI Calculator is designed to assist you with Easy Calculations and quick HDFC Credila Education Loan analysis. You can set the Loan amount, course duration, grace period, interest rate, loan tenure, and repayment method in the EMI Calculator. It will show you the Total Interest, Total Payment, EMI during the Study, EMI after the Study, and Repayment / Amortization Schedule. Planning out your repayment before taking the Education Loan for a smoother process is highly recommended.
You have the following options to contact the HDFC Credila Education Loan Representatives or resolve your doubts.
However, applying for an HDFC Credila Education Loan through Abroad Cube is the easiest way. We will help you with faster processing, interest rate negotiations, and processing fee discounts.
Connect with our Education Loan Expert and get your application processed within 3-4 working days*
Check Eligibility For FreeWhen applying for an education loan through Abroad Cube, you can expect higher chances of approval as our expert will verify the documents before submission and suggest better alternatives for higher approval.
Using the latest technology and years of experience, we expedite the application process by 65%, reducing overall processing time. Applying using the exact required documents with the eligible lender is the key to getting an application processed in record processing time.
Our Education Loan Expert will send you a Personalized Document Checklist, removing all unnecessary documents, easing the process and giving you peace of mind.
We will help you get Comparable, Negotiated and best-suited Education Loan deals, saving you up to Rs 3 Lakhs. The major negotiable components are Interest Rate and Processing Fees.
We are not charging any service fees for helping with the Study Abroad Education Loan. Also, there are no hidden fees involved, which is guaranteed. For each approval, we get paid a referral fee by HDFC Credila without any additional charge to students.
Here is the standard document checklist for getting an education loan from HDFC Credila or other lenders. The bank or NBFC might ask for additional documents or information based on the application to ease the process.
The Education Loan documents may vary based on individual applications. If you are missing any required documents, please contact our Loan Expert for help!
Start by checking your eligibility on Abroad Cube's website or reach out to us via WhatsApp or phone. The Eligibility criteria include Country acceptance, University and course ranking, Academics, Credit Score and history, co-applicant and Collateral requirements, etc.
Once you pass the basic Eligibility Criteria, the next step will be Documentation. Our Education Loan Expert will send you a personalized Document Checklist of HDFC Credila and help you arrange, sort and suggest alternatives, if any. Before sending documents to the HDFC Credila, we ensure that all documents are in order according to the required Checklist to expedite the application login process.
Our Education Loan Expert will choose the best lenders from the pool of 12+ options to get you the best-suited deal. They will follow up with concerned Lender Relationship Managers for Application Login and further processing. The lender process will include getting consent, address verification, and a small telephonic interview with the Credit Manager before the final decision.
The sanction letter will be released within 24 hours once you pay the processing fee to the Bank via acceptable payment methods. Afterwards, you may proceed with the Study Visa process or request Pre-Visa disbursement. You can also ask for reimbursement if you have already paid the Tuition Fees or Living Expenses via other means. Once you complete the banking formalities, the loan amount will be disbursed into the Bank Account
You may apply for HDFC Credila Education Loan by visiting their local bank branch or contacting their customer support team. But Abroad Cube will help you get a hassle-free Education Loan from your comfort at the best Interest Rate and record processing time at Zero Service Charges.
Abroad Cube is an Online Study Abroad Marketplace that has onboarded 12+ Banks and NBFCs to ease the process of getting the best deal for an Education Loan in minimal processing time. To get started, Check your Eligibility and share your Documents by Email or WhatsApp to expedite your application process.
Are you worried about your Eligibility for Study Abroad Consultancy? Enter your basic details and check your eligibility within minutes in more than 10 Banks and NBFCs.
Get Education Loan EMI Repayment analysis, monthly EMI and Amortization Schedule in a single click without worrying about complex formulas and calculations.
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