HDFC Credila Education Loan

Credila categorises its student loan schemes into three types for students who want to pursue their education abroad: Secured Credila Education Loans for Abroad Unsecured Credila Education Loan for US Unsecured Credila Education Loan for Non-US Countries Secured Credila education loans for abroad studies have no upper limit for loan amounts. This means that the loan amount for a secured education loan from Credila depends on the value of collateral or other securities. Apart from this, Credila also offers unsecured education loans for abroad studies. The loan amount for a Credila education loan without collateral ranges up to ₹50 lakhs for non-US countries and up to ₹70-80 Lakhs for the US, according to the university ranking. The Credila education loan Interest rates start from 9.75% ( ongoing through Subraxo ). The repayment period comprises a grace period equal to the length of the course plus one or two years. These include post-graduation loans, Master's loans, as well as secured loans for undergraduate studies. Here's a summary table containing the Credila education loan details of the above-mentioned schemes: S.No Scheme Details

Parameter GRE>= 310 GRE< 310 >=300 GRE >285, <=299 Loan Amount Up to 80 Lakhs Up to 50 Lakhs Up to 40 Lakhs Interest Rate Starting from 9.75% Starting from 9.75% Starting from 9.75% Repayment Period Up to 15 years Up to 15 years Up to 15 years Moratorium Period 6 Months or 1 Year + Course Duration 6 Months or 1 Year + Course Duration 6 Months or 1 Year + Course Duration Co-Applicant Income INR 15k - 20k INR 30k INR 30k-50k Processing Fee 1%-1.25% on the loan amount + GST 1%-1.25% on the loan amount + GST 1%-1.25% on the loan amount + GST

Documents required to avail a Credila education loan for study abroad are categorised into student, co-applicant, financial, and collateral documents and may vary slightly based on the borrower's profile and the type of loan.

The repayment of loan interest starts immediately after the first disbursement is deposited in your bank account from the education loan. The total tenure or duration of the education loan includes the Duration it would take to complete your course, the moratorium period after you finish your course, and the Repayment Period. Credila offers a maximum tenure of 12 years for loan repayment Credila advises having a buffer of at least three months before loan payments begin. Options for paying off the loan include: Making extra payments Paying while in school Making partial payments

Getting an education loan from Credila for studying abroad through HDFC Credila Financial Services Limited involves going through a structured and straightforward system. Below is a stepwise guide explaining each step clearly: