Each stage of planning and arranging for studies abroad requires careful attention, and getting the right education loan is crucial. HDFC Credila is India’s first educational loan provider that has specifically designed products for students wishing to pursue their studies abroad. With competitive interest rates and wide coverage of education and other related costs, HDFC Credila remains one of the best study-abroad education loan options.
Specializing in Study Loans for Non-Resident Students
HDFC is aware of the fact that each student is an individual, so each student’s education route is different. It provides a shorter time frame for loan amounts being requested. Be it undergraduate or postgraduate, HDFC is able to design and give loans to suit individuals’ needs. There are numerous loans available with maximum amounts going up to ₹75 lakhs without any collateral, with even larger amounts of secured loans available for more expensive courses.
- Loan options are customized based on course and country.
- Education loans without collaterals went up to 100% finance, covering all education expenses.
- Assurance of admission through sanctioned letters even before confirmation of admission to make it easier to apply for a visa.
HDFC is able to accommodate such students and provide appropriate loans to help them achieve their dreams of schooling in other nations.
Varied Options of Repayment with HDFC Credila Education Loan
HDFC Credila offers an interesting study abroad education loan. The most important feature is that you can choose a flexible repayment option. The maximum repayment term is not less than 15 years, so you have enough time to repay the loan after you are through with your studies. Several repayment plans are available, including those that commence at the time of studies or after completing them.
- A long repayment period also exists to a maximum of 15 years.
- ‘Interest-only periods’ during the course.
- No penalties are imposed for prepayment.
This feature is very appealing to HDFC Credila as the students borrow with a repayment period extended over several years.
No Complicated Documentation and Approval is Faster
With HDFC Credila, the entire loan approval process is easier and faster because of the low documentation requirement. Before even receiving an admission letter/invitation, students have the option of applying for pre-approval, which comes in handy for students who are seeking admission to universities that have an invitation for financial support at application. The rapid approval process allows students to concentrate on their studies and preparations without unnecessary hindrances.
- Fast and assuredly efficient credit approval process.
- A small amount of paperwork for clients.
- Financial approval before acceptance.
- HDFC Credila Education loan app is user-friendly and connects customers to the services with ease.
Competitive Interest Rates for Study Abroad Education Loan
HDFC Credila Education Loan has adjustable rates between 10.5% and 14% depending on the type of loan and the student’s profile. Secured loans usually attract lower interest as compared to unsecured loans. Constructively, students will also be able to enjoy tax deductions under section 80E of the Income Tax Act, which lessens the strain on their thicker pockets.
- Business loan is between 10.5% and 14% range.
- Secured loans are at lower rates.
- S40E tax provisions regarding the interest payment.
The degree of flexibility with the rates motivates students, especially those who wish to study abroad and need affordable finance, to choose HDFC Credila.
Comprehensive Coverage for All Education-Related Expenses
The HDFC Credila Education Loan includes only tuition fees. It also includes other education expenses, including accommodation, transport, books, study materials, and even living expenses. With no banking margins required, the students manage to zero out from their own pockets to fund 100% of their education-related costs.
- There is full repayment of the charge fee for the course, traveling, accommodation, and meals to fill a course.
- There are no margin requirements.
- Up to 100% of the costs related to education can be availed.
Given such a measure of benefits, HDFC Credila offers assurance to the students that they will have enough time to pursue education without managing other extra expenses.
Why Borrowing Yields Results Better With HDFC Credila Than With Other Institutions
HDFC Credila’s focus on individual education loans with reasonable conditions and a desire to serve customers give the company an edge over its competitors. Being in the education finance sector makes it easy to offer clear conditions of service and satisfy customers. Having helped out more than 178,000 students, HDFC Credila has managed to maintain a good reputation.
- Exclusive loan services.
- Terms: reasonable, clear, and understood.
- Loaned to more than 178 thousand students in excess.
HDFC Credila is still considered one of the preferred study-abroad education loan providers.
Looking for the right education loan? EduLoan offers expert guidance to help you find the best loan options suited to your study abroad plans. We simplify the application process and help you secure competitive rates and flexible repayment options. Get in touch with EduLoan today, and let us help you finance your overseas education.
FAQs
How much can one borrow from HDFC Credila?
HDFC Credila provides unsecured loans worth up to ₹ 75 lakh. For amounts higher than ₹320,000, collateral, including property or fixed deposits, may be required.
Can I get pre-approval for a loan even if I have not yet received my admission letter from the school?
Yes, HDFC Credila pre-approves education loans, which help applicants apply for visas and reserve a place in the university.
Is the interest payable on HDFC Credila Education Loans tax deductile?
Yes, students can deduct tax of interest on the loans taken under Section 80E of the Income Tax Act.
What is the interest rate of HDFC Credila Education Loans?
The rates range from 10.5 % to 14%, depending upon the nature of pictorial breast screening (secured or unsecured) and the students’ reviews.
Does HDFC-Credila alone cover tuition fees? It includes additional costs for living expenses, too.
Yes, HDFC Credila Education Loan is available for tuition, living expenses, travel, housing, books, and other student-related expenses.