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Education Loan 1

Get your education loan sanctioned without an admit and without any collateral! 

1. Talk to Executive

Give your contact details in the form and we will arrange a call with representative.

2. Submit Documents

Representative provide you a list of documents to be prepared.

3. Get Your Loan Sanctioned

Once all the required documents are submitted, the loan is approved in 4-5 working days.

Frequently asked questions

  1. Reduces last minute hassle and saves time during the Visa process
  2. Know your loan eligibility in advance and plan accordingly
  3. Better acceptance of the sanction letter over the solvency letter

Please wait for the HDFC Credila representative’s call. He/she will give you the complete details of further steps.

HDFC Credila has a student friendly education loan application process:

  1. HDFC Credila informs you about the details of education loan and related terms and conditions.
  2. HDFC Credila sets an appointment with you for the house visit.
  3. HDFC Credila’s representative visits your house and collects application form with the supporting documents. We can visit the house of students and parents both, even if they are in different towns. HDFC Credila has presence across India.
  4. The application goes through credit and underwriting process.
  5. We check credit history of the parents and students.
  6. We visit students and parents for employment and other verifications, valuation reports etc.
  7. We perform risk analysis using HDFC Credila’s “Predictive Credit Scoring Model”.
  8. We sanction or decline the loan.
  9. For sanctioned loans, disbursement formalities get completed.
  10. HDFC Credila disburses the loan amount
  1. Fully completed application form
  2. Photos
  3. Photo ID
  4. Residence Proof
  5. Academic Documents
  6. Proof of Admission
  7. Bank Statement
  8. Income proof of co-applicant
  9. Immovable Property Document

It depends on multiple factors such as:

  1. Academic background of the student
  2. Type of course and University for which education loan is applied for
  3. If collateral is offered against the loan or not. Type of collateral offered.
  4. Co-borrower/guarantor on the loan. Job profile of the co-borrower etc.

It varies depending on the candidate’s profile, loan requirement and financial background. This will be discussed during the approval process. 

The loan application will be processed two phases:

  1. For in-principle sanction
  2. For disbursement of funds

The in-principal sanction letter would be given in about 7 to 10 days from the date of receipt of completed Application Form along with the supporting documents from the customer.

Similarly, the disbursement would be completed within 7 days from the date of receipt of all post sanction documents from & completion of the underlying post sanction process by the customer.

HDFC Credila is the only lender that not only finances upto 100% of the cost of education but also gives education loan over Rs. 20 lakhs. What’s more, HDFC Credila also covers living to expenses in addition to tuition fee.

No. You can apply for education loan before getting admission confirmation from University / College. If your case is approved, you’ll get a conditional loan sanction letter. This helps many students get confidence that their funds can come from HDFC Credila. Students and parents feel confident to apply for better colleges, without worrying about how to fund the education cost.

Yes, work experience does make a positive impact while granting a loan.

The loan is for the complete education cost including tuition fees, living expenses, books and periodicals and some times traveling expenses as well.

If you have any further questions check out Credila FAQ Page, or feel free to Contact Us.

Education Loan Form

Note: Before placing the order, please make sure that you have all the necessary documents ready.
Education Loan 2

Frequently asked questions

Citizens of India/Indian passport holders currently enrolled or planning to enroll in an eligible course can apply.

The co-signer must also be an Indian national or passport holder.

Non Resident Indians (NRIs) with an Indian passport or with an Overseas Citizens of India (OCI) or Persons of Indian Origin (PIO) cards are also eligible to apply for a student loan at InCred. Certain additional conditions may be required to be met for such applicants and co-signers on a case-specific basis.

InCred provides education loans for programs at the undergraduate (bachelor), graduate (master) and doctoral levels. Certifications and diplomas are also eligible.

In terms of fields or streams of study or majors or subject areas, InCred has loan options available for all areas.

InCred will process loans only for those courses/institutes which have required approvals, authorizations or accreditation from relevant bodies.

Yes! You can apply as soon as you receive your standardized test score. If you are not going to take a standardized test, or want to apply prior to that for some reason, then you can start your loan application when you are in the process of short-listing or applying to your universities/colleges.

You can apply at any point during your admissions process. You can apply to us as soon as you have received your standardized test score or when you have started your application process for admissions. You can apply later as well after receiving admission.

Know-Your-Customer (KYC),

  1. Past academic Record, upto the most recent degree.
  2. Financial documents – Last 3 year ITS/Form 16
  3. If employed, details of employment
  4. Passport Size photograph
  5. If applicable, documents related to the collateral security will also be required.

Once you have completely filled and submitted the loan application form and all supporting documents, it will generally take approx 5 working days for us to process your application in full.

Though we endeavour to make the application process as streamlined and seamless as possible, depending on the circumstances of your case, you may be required to provide additional information after your initial application and submission of documents.

As a part of the loan process, InCred will verify certain information including, but not limited to, the student and co-borrower’s addresses, employment, etc. Hence, we require all our applicants to give consent for us to physically verify all such information.

It depends on multiple factors such as:

  1. InCred provides various options for you or your co-borrower to repay the loan that are customized to your individual case. All loan repayments are executed by electronically deducting the co-borrower’s bank account on a monthly basis. InCred allows a total of 5-12 years (max 15 yrs) to repay your education loan.

  2.  For graduate school or Masters’ loans, the loan repayment in equated monthly instalments (EMI) commence at the end of a maximum period of 36 months from the initial loan disbursement date. The first 36 months is the “in-school” period including a “grace” period during which the student is expected to complete studies and find employment. During the first 36 months max, either the interest component of the loan or a part thereof needs to be repaid by the co-borrowers on a monthly basis. Please do know that the paying a higher amount during the in-school period may qualify you for a better rate.
  3. For courses at the undergraduate level, the equated monthly installments generally commence from the date of first disbursement and continue for the entirety of the repayment cycle.

The interest rates at InCred are floating or variable interest rates. This means that your interest rates may fluctuate upwards or downwards during the tenure of your loan depending on factors such as market conditions and regulatory measures.

  1. A collateral security or simply a collateral or security is a guarantee for the loan. Typically, collateral is a property or a fixed deposit which is mortgaged with the lender until the loan is repaid completely. If you and your co-borrowers fail to repay the loan on time, the lender will have recourse to liquidating the security to recover the loan funds.
  2. InCred provides loans that may or may not require collateral.

If you have any further questions check out InCred FAQ Page, or feel free to Contact Us.

Why do we recommend HDFC Credila ?

Education Loan Features HDFC Credila Others
Up to 100% finance X
Doorstep service X
Loan amount over Rs.20 lakhs also available X
Repayment tenure up to 10 years (Easy EMIs) X
Less than 100% collateral X
Co-borrower flexibility X
Loan against property X
Loan Sanction before admissions also X
Tax benefit under Section 80-E of Income tax Act Maybe
Education Loan 3
Get your education loan sanctioned without an admit and without any collateral!

1. Talk to Credila Executive

Give you contact details in the form and we will arrange a call with HDFC Credila representative.

2. Submit Documents

HDFC Credila representative provide you a list of documents to be prepared.

3. Get Your Loan Sanctioned

Once all the required documents are submitted, the loan is approved in 4-5 working days.

HDFC Credila Education Loan Form

Note: Before placing the order, please make sure that you have all the necessary documents ready.

Why do we recommend HDFC Credila?

Education Loan Features HDFC Credila Others
Up to 100% finance X
Doorstep service X
Loan amount over Rs.20 lakhs also available X
Repayment tenure up to 10 years (Easy EMIs) X
Less than 100% collateral X
Co-borrower flexibility X
Loan against property mortgaged with HDFC Ltd. X
Loan Sanction before admissions also X
Attractive rate of interest Maybe
Tax benefit under Section 80-E of Income tax Act Maybe
Tax benefit under Section 80-E of Income tax Act X

Frequently asked questions

  1. Reduces last minute hassle and saves time during the Visa process
  2. Know your loan eligibility in advance and plan accordingly
  3. Better acceptance of the sanction letter over the solvency letter

Please wait for the HDFC Credila representative’s call. He/she will give you the complete details of further steps.

HDFC Credila has a student friendly education loan application process:

  1. HDFC Credila informs you about the details of education loan and related terms and conditions.
  2. HDFC Credila sets an appointment with you for the house visit.
  3. HDFC Credila’s representative visits your house and collects application form with the supporting documents. We can visit the house of students and parents both, even if they are in different towns. HDFC Credila has presence across India.
  4. The application goes through credit and underwriting process.
  5. We check credit history of parents and students.
  6. We visit students and parents for employment and other verifications, valuation reports etc.
  7. We perform risk analysis using HDFC Credila’s “Predictive Credit Scoring Model”.
  8. We sanction or decline the loan.
  9. For sanctioned loans, disbursement formalities get completed.
  10. HDFC Credila disburses the loan amount
  1. Fully completed application from
  2. Photos
  3. Photo ID
  4. Residence Proof
  5. Academic Documents
  6. Proof of Admission
  7. Bank Statement
  8. Income proof of co-aaplicant
  9. Immovable Property Document

It depends on multiple factors such as:

  1. Academic background of the student
  2. Type of course and University for which education loan is applied for
  3. If collateral is offered against the loan or not. Type of collateral offered.
  4. Co-borrower/guarantor on the loan. Job profile of the co-borrower etc.

It varies depending on the candidate’s profile, loan requirement and financial background. This will be discussed during the approval process. 

The loan application will be processed two phases:

  1. For in-principle sanction
  2. For disbursement of funds

The in-principal sanction letter would be given in about 7 to 10 days from the date of receipt of completed Application Form along with the supporting documents from the customer.

Similarly, the disbursement would be completed within 7 days from the date of receipt of all post sanction documents from & completion of the underlying post sanction process by the customer.

HDFC Credila is the only lender that not only finances upto 100% of the cost of education but also gives education loan over Rs. 20 lakhs. What’s more, HDFC Credila also covers living to expenses in addition to tuition fee.

No. You can apply for education loan before getting admission confirmation from University / College. If your case is approved, you’ll get a conditional loan sanction letter. This helps many students get confidence that their funds can come from HDFC Credila. Students and parents feel confident to apply for better colleges, without worrying about how to fund the education cost.

Yes, work experience does make a positive impact while granting a loan.

The loan is for the complete education cost including tuition fees, living expenses, books and periodicals and some times travelling expenses as well.

If you have any further questions check out Credila FAQ Page, or feel free to Contact Us.

Education Loan

About Credila

What is HDFC Credila?

  1. HDFC Credila Financial Services, a Non banking Finance Company, is an HDFC Ltd subsidiary company which provides specialized lender for student loans and offers education loans for Studies Overseas and Studies in India.

  2. HDFC Credila is not a broker or not an intermediary. It offers provision of Pre-payment/Foreclosure during the Loan tenure.

  3. HDFC Credila has already funded students for esteemed top Universties like Columbia Univ., Purdue Univ., Cornell Univ.,Carnegie Mellon Univ., Oxford Univ., Pune Univ., Bangalore Management Academy, CREMA, ISB, IIM, Great lakes, SP Jain and numerous others

How is HDFC Credila different from other Education loan providers?

  1. HDFC Credila offers branchless service. It can provide loan in many towns and cities. All you need to do is apply online at HDFC Credila.

  2. HDFC Credila is India's first and only education loan specialist which main objective is to work closely with students and parents to try to identify the appropriate education loan programs for them.

  3. HDFC Credila customizes the products depending on the school and the student's grades. This ensures that all students have a good shot of getting a loan, and that too at an attractive rate of interest.

Features

  1. It doesn't cost you anything to apply online to Credila. It just takes 5 minutes of your time!

  2. Up to 100% finance

  3. Loan Sanction before admissions also

  4. Loan amount over Rs.20 lakhs also available

  5. Less than 100% collateral

  6. Loan against property mortgaged with HDFC Ltd.

  7. Tax benefit under Section 80-E of Income tax Act

  8. Repayment tenure up to 10 years (Easy EMIs)

Education Loan Process

Step 1: Convenient application process

  1. Apply online  at For HDFC Credila

  2. Call/ SMS/ email to avail door step service

  3. Visit the nearest branch office

Step 2: Minimal documentation

  1. Submit one page application form & documents to HDFC Credila

  2. Avail door-step service for document collection, or

  3. Submit the documents at your nearest HDFC Credila/ HDFC Ltd. branch office.

Step 3: Faster loan approvals & disbursement

  1. Quick loan approval post completion of all formalities

  2. Collect your loan from the HDFC Credila office

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