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Interest Rate
Starting from 10.25%Processing Fees
0.5% to 1% + GSTMargin Money
NilSimple FIVE step digital process to get a education loan
Use our free tool to verify your eligibility and receive conditional loan offers.
Connect with our dedicated loan counselor for a better understanding of the process.
Submit your documents or complete the necessary forms for bank verification and evaluation.
GyanDhan expert's negotiate to secure the most competitive interest rates and the highest possible loan amount for you.
Recieve your final approval and sanction letter, ensuring prompt fund disbursement from the lender
As one of the country's leading NBFC, HDFC Credila has helped thousands of students achieve their academic dreams.India’s first specialist education loan lender, HDFC Credila Financial Services provides education loans to study abroad aspirants for more than 1000 universities across at least 35 countries. What sets HDFC Credila apart is its customized education loan solutions taking into account the course and country preferences of the applicant.
Feature | Detail |
---|---|
Loan amount | Up to INR 65 Lakh |
Rate of Interest | 10.25% - 12.75% |
Processing fees | 0.5 - 1% |
Processing time | 7-10 days |
Margin Money* | Nil |
Moratorium period* | Course duration + 1-year |
Repayment Tenure | 15 years |
*Moratorium period is the time duration during which you are not required to make payments toward your education loan.
*Margin money refers to the amount of money that a borrower is required to contribute towards the loan, while the remaining amount is paid by the lender.
HDFC Credila is the only NBFC in India that offers tax benefits under Section 80E on education loans. Section 80E of the Income Tax Act allows individuals to claim a deduction for the interest paid on an education loan for a maximum period of eight years, starting from the year in which the repayment of the loan begins. The deduction can be claimed for the interest paid on the loan. It is important to note that the tax benefit under Section 80E is only available for the interest paid on the education loan and not for the principal amount.
Feature | GRE > = 310 | GRE 300 = < 310 | GRE 285 = < 299 |
---|---|---|---|
Rate of Interest | 11.25 - 11.75% | 11.75 - 12.5% | 12.5 - 13% |
Loan amount | Up to INR 65 Lakh | Up to INR 50 Lakh | Up to INR 40 Lakh |
Co-applicant minimum income | INR 30K | INR 35K | INR 35K |
Monthly instalments during the course | Partial simple interest | Partial simple interest | Simple interest |
Processing fees | 0.5 - 1% | 0.7 - 1% | 1% |
Feature | Australia / New Zealand | Canada | UK | Germany/Ireland/France/Italy |
---|---|---|---|---|
Rate of Interest | 12 - 13% | 11.75 - 12.5% | 12 - 13% | 12 - 12.75% |
Loan amount | INR 25 Lakh | INR 40 Lakh | INR 40 Lakh | INR 25 Lakh |
Co-applicant minimum income | INR 60K | INR 35K | INR 40K | INR 40K |
Monthly instalments during the course | Simple interest/ EMI | Partial simple interest | Simple interest / Partial interest | Simple interest / Partial interest |
Processing fees | 1% | 0.75 - 1% | 1-2% | 1- 1.5% |
GyanDhan provides a customized documents list for HDFC Credila education loans, which depends on your profile, your co-applicant profile, and any property/asset, you may offer as collateral.
If you are looking to secure an abroad education loan from HDFC Credila, you can apply online at their website. However, for a hassle-free application process, you can choose to apply for your education loan through GyanDhan.
GyanDhan is an online platform designed to assist Indian students in financing their education abroad. To start your process with us all you need to do is check your loan eligibility and leave the rest to us!
Apply Online
Online document submission
Processing and Approval
Loan Sanction and Disbursal
Apply Online For Your Education Loan
Getting your HDFC Credila education loan through GyanDhan
Feature | With GyanDhan | Without GyanDhan |
---|---|---|
Personalized document checklist according to profile & area | Yes | No |
Branch visits | 1-2 | 7-8 |
Pre-visa disbursements | Easy | Difficult |
Empowering students to overcome education loan obstacles
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