Hdfc credila

Home HDFC Credila Education loans HDFC Credila Education Loans For Abroad Study in Hyderabad HDFC Credila is a specialized education loan provider in India. It is a subsidiary of HDFC Ltd., one of the leading financial institutions in the country. HDFC Credila focuses exclusively on providing loans for education purposes, catering to the financial needs of students aspiring to pursue higher education in India or abroad.HDFC Credila is a great company. There is a reason that HDFC Credila is a leader in the field of Education Loans. They make it easy to work with them! Key Features of HDFC Credila education include Customized Loan Solutions HDFC Credila offers tailor-made loan solutions to meet the specific needs of students, covering tuition fees, living expenses and other related costs. Wide Range of Courses and Institutes The loans are available for various academic courses and institutes, both in India and Overseas. This includes undergraduate and Postgraduate programs as well as professional courses. Flexible Repayment Options HDFC Credila provides flexible repayment options, taking in to account the future earning potential of the student. Comptetive Interest Rates The interest rates offered by HDFC Credila are competitive and vary based on factors such as the loan amount, profiles of the customers, course, collateral and repayment period.The Rate of Interest for Secured Loans starts from 10.25% to 10.50 %, While for Unsecured Loans, it starts from 11% to 12.50% Quick Approval and Disbursement The loan approval process is designed to be efficient, and disbursement of funds is done in a timely manner to ensure that students have access to the necessary funds when required. Collateral -free Loans In many cases, HDFC Credila offers loans without requiring collateral. This can be advantageous for students who may not have significant assets to pledge as security. The Advantages of using

Window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('js', new Date()); gtag('config', 'AW-16447957357'); --> HDFC Credila - Education LoanNBFCs Loan Margin: NA Collateral Needed ⚡7 working days avg loan processing time We Fund Your Future Guarantee Quick Loan Sanctions 100% Transparency No Hidden Fees 24x7 Support Features Eligibility Benefits How to Apply Documents Loan Repayment FAQs Features Of HDFC Abroad Education LoanHDFC Credila Financial Services, India’s first specialist education loan lender, offers education loans under the name HDFC Credila Education loan for students wishing to study abroad at over 1000 universities in at least 35 countries. What distinguishes HDFC Credila is its personalised education loan options that take into account the applicant’s course and country preferences. Students who want to study in the country or abroad can get an education loan from HDFC Credila, a subsidy firm of HDFC Limited. HDFC Credila, the country’s first dedicated education loan lender, offers income tax advantages under Section 80E of the Income Tax Act. You can borrow up to 100% of your educational expenditures.HDFC Credila acknowledges that the work we do at We Fund Your Future is consistent with the company’s mission and objectives. The collaboration between HDFC Credila and We Fund Your Future is a new ray of hope for students looking for low-cost education loans to study abroad as soon as possible and in the most convenient way imaginable.FeaturesEducation Loan DetailsLoan amountUpto ₹50Lac (Without Collateral)Exceptional cases – up to 1 Crore.Margin moneyNilInterest rateThe HDFC Credila education loan interest rates and charges are mentioned below:1. Rate of Interest – The interest rate is a floating rate related to HDFC Credila’s Benchmark Lending Rate (CBLR). CBLR is currently 12.55% per annum.2. Processing Fee – 1.0% to 1.2% of Loan Amount3. Pre-payment charges – Every fiscal year, the borrower has the option to pay up to 25% of the starting principal due without incurring any fees.Processing fee1.0% to 1.2%Processing time12 Working DaysLoan tenure14 YearsPrepayment chargesNilRepayment holidayInterest to be paid during the moratorium period.EMI starts after the completion of course + 6 months.Countries coveredHDFC Credila offers abroad education loans to study in over 35+ different countries across the world including the USA, Canada, the UK, Germany, Australia, Singapore, France, etcPayment study periodYes, simple interest.For selected good profile, partial interest repayment available. HDFC foreign Education Loan EligibilityYou are eligible to apply for the HDFC student loan only if you’ve met the following requirements:TypeRequirementEligibility Criteria For HDFC Credila Education LoanYou are eligible to apply for the HDFC student loan only if you’ve met the following requirements:For the borrower –1. The student applying for the Education Loan should be an Indian citizen, 18 years old or above.2. The student should be enrolled in a recognised institution as a full-time

Might be a co-borrower/guarantor. He or she must have an NRI account and, most significantly, the collateral must be in India for him or her to be the co-borrower/guarantor. In both circumstances, you’ll need an extra co-borrower.Income Tax BenefitsIf you take up an HDFC Credila Education Loan, you will be eligible for tax benefits under section 80-E of the Income Tax Act on the interest you pay for the loan.Pre-admission Education Loan SanctionThe HDFC Credila Education Loan has a unique characteristic in that it can be sanctioned even before you receive your acceptance letter! Credila takes your GRE score into consideration in order to do so. If you apply for an HDFC Credila Education Loan with We Fund Your Future, 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 Education Loan benefits are profitable not only for students but also for their parents. Let us see some of the prime benefits of the HDFC Education Loan.Benefits for StudentsApproval Prior to Admission: Get an HDFC Education Loan approval letter from HDFC Credila prior to admission so you don’t have to downsize your dreams!Funding Sources for USA I-20: HDFC Credila’s Education Loan acceptance letter demonstrates reliable sources of cash for obtaining I-20s from US universities or visas for a variety of nations.Complete Cost Coverage: HDFC Credila supports the complete cost of your education, including living expenses and all other charges, easing your financial problems.Benefits for ParentsTax Benefits: HDFC Education Loans provide income tax benefits under Section 80E of the Income Tax Act of India.HDFC is a reliable company: Credila is a subsidiary of HDFC Limited, a well-known company in the financial services business. HDFC bank education loan is reliable & recognized.Loans of up to 100% of educational expenses are available: There is no need for margin money. You do not have to sacrifice your child’s education quality because of increased payments.Convenience: Education Loans are delivered to your door, eliminating the need to visit bank locations many times.Flexibility: Flexibility in terms of collateral security. There are longer and more flexible repayment alternatives available.Benefits Of Applying through We Fund Your FutureHigher Chance Of ApprovalBy applying for your education loan through We Fund Your Future, you are increasing your chances of approval. Generally, banks dismiss applications if they find any missing documents, property issues, or any other problem. With We Fund Your Future, we will immediately reach out to HDFC Credila officials and find the best solution.Online Submission Of DocumentsWith We Fund Your Future, you can submit all the required documents from home! There won’t be any need

Credit: ThinkStockNearly 18 months after private equity firms EQT and ChrysCapital bought out HDFC Bank from HDFC Credila Financial Services, the education finance company has pre-filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The pre-filed DRHP does not necessarily mean that the lender will undertake the offer, the company said in a newspaper notice. A report in Moneycontrol had mentioned that the total amount raised through the IPO may be as high as Rs 5,000 crore. A consortium of EQT and ChrysCapital had acquired around 90% stake in the erstwhile HDFC Credila for $1.15 billion when HDFC’s merger with HDFC Bank, required reducing their shareholding in the company to less than 10%. The consortium was to also make fresh investment of around Rs 2000 crore in Credila Financial Services. They also recently brought on board South Korea’s Shinhan Bank that invested $180 million (Rs 1,505 crore) in the company, also giving it a bump up in valuation. As of March 31, EQT held 72.01% stake in Credila Financial Services, ChrysCapital Group held 18%, and HDFC Bank held the remaining 9.99%. Founded by Ajay and Anil Bohora in 2006, HDFC Credila is the largest non-bank lender in the education loan segment. The company specialises in overseas education loans. The Bohora brothers left their executive roles and moved on from the company in 2019, when HDFC bought a 100% stake in the company. The company’s bottomline rose 92% to nearly Rs 529 crore in FY24 due to the growth in the loan book. The disbursements rose 76% to Rs 14,089 crore in the year under review. Get daily update with our newsletter Subscribe Now !

Of an education loan is made up of the duration of the study + the grace period after the study + the repayment period.The highest tenure offered by HDFC Credila is 12 years.The loan tenure, however, is subject to considerations such as the customer’s repayment capacity, the course’s future prospects, the age of the co-applicant, and so on, as well as HDFC Credila’s credit and underwriting norms as they apply from time to time. However, HDFC Credila would make every effort to tailor the payback time to your needs.The monthly repayment amount will be debited from the borrower’s/co-bank borrower’s account via the Electronic Clearing System (ECS) Loan Amount: 1600000 Interest Rate (%): 15 Loan Duration (years): 10 Loan Details Monthly EMI: 0 Principal Amount: 0 Total Interest: 0 Total Amount: 0 What our Students say about us Frequently Asked QuestionsDoes HDFC Education Loan cover 100% cost of education?Yes, the HDFC Credila education loan covers the entire cost of your international education.What is the HDFC Education Loan interest rate?Various factors influence the HDFC Education Loan interest rate, the HDFC Education loan interest rate ranges from 11% to 12.5%.How long does it take for the HDFC Education Loan to get approved?Following the documentation, approval takes about 3-4 working days.Is the interest paid on the HDFC Education Loan tax deductible?Yes, under Section 80-E of the Income Tax Act, one can deduct interest paid on an education loan.What is the time frame for the Disbursement?The loan application will be processed in two phases: One is for in-principle sanction & other is for disbursement of funds. The in-principle sanction letter would be issued within 7 to 10 days after the customer’s receipt of the completed Application Form and supporting documentation. Similarly, the distribution would be completed within 7 days after receipt of all post-sanction documents from the customer and completion of the underlying post-sanction process.How do you decide on the repayment period?The duration of the payback periods is often determined by the bank’s assessment of the student’s projected earning capacity and the risks associated with extending a certain loan. HDFC Credila Education loan repayment starts as soon as they land a job. At the beginning of their professions, however, they can find higher EMIs (caused by shorter repayment periods), particularly difficult. In order to assist with a seamless transfer for students from the campus to the workplace, HDFC Credila provides extended tenure. By doing this, individuals can begin their working careers with good credit histories that will enable them to obtain additional loans in the future.

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 YouAll our education loan services are completely free of cost.Quicker SanctionsOur strategic partnerships ensure low turnaround time. Expect to have your education loan processed and sanctioned within 3-4 working days. How To Apply for HDFC Abroad Education Loan?1. Once you’ve established your HDFC Credila education loan eligibility, you can submit an online application or get in touch with one of our expert education loan counsellors to schedule a callback. Our counsellors can assist you in obtaining an HDFC Credila Education loan without collateral, depending on your needs.2. After you’ve submitted your profile information, our specialists will carefully review it and, based on your eligibility, recommend the following course of action to you.3. We Fund Your Future enables students to upload documents digitally, sparing you the trouble of having to present your documents at the bank and allowing you to do it from the convenience of your home.4. In addition, We Fund Your Future gives you a customised set of documents to submit based on your profile and the loan you’ve applied for to speed up the process. Documents Required for an Abroad Education Loan By HDFC CredilaOnce you meet the HDFC Credila education loan eligibility; below are the documents required for HDFC Education LoanTypeDocuments RequiredIdentity Details1. Permanent Account Number (PAN) Card2. Voter’s ID Card3. Passport4. Driving License5. Aadhaar CardAcademic Documents1. Marksheet/Certificate of 12th Exam2. Marksheet/Certificate of Subsequent Years of Education e.g. BE, BCom, BSc, etc.3. Marksheet of Any Entrance Exam Taken e.g. CAT, CET, GRE, GMAT, IELTS, TOEFL, etc. (If applicable)4. Scholarship Documents (if applicable)Financial Documents1. (If more than one bank account, provide copies of all)2. Make sure to include the bank statements of the Bank Account where Salary or Business professional receipts are credited every monthIncome Proof of Co-ApplicantA) For Salaried Employees (All the following)1. The most recent three salary slips or salary certificate on employer letterhead2. Employer Form 16 from the last two years or Income Tax Returns from the previous two years3. Any Other Income Proof Not Included in the Above DocumentsB) If you are self-employed or a professional (All the following)1. Income Tax Returns for the Previous Two Years2. CA-Certified Financial Statements or Provisional Financial Statements for the Previous Two Years (any one of the following, Lease Deed, Utility Bill, Title Deed, etc.)3. Any Other Income Proof Not Included in the Above Documents Education Loan Repayment for HDFC BankLoan interest repayment will begin immediately upon the disbursement of the HDFC Education Loans’ first instalment.The duration