Last Modified : April 18, 2019
Getting an education loan is a very hectic and confusing process. When there are so many options running in the market, making a good choice often becomes difficult. Most of us prefer the grand old banks of India. At the same time, we also don’t want to miss the attractive offers of NBFCs and other private institutes. So what to choose?
The problem eases to some extent when certain trusted banks come out with customer-friendly solutions. HDFC, India’s largest private sector lender by assets, came out with such a solution in 2006. The bank launched HDFC Credila to offer beneficial attractions to students willing to pursue higher studies. HDFC Credila is India’s First Dedicated Education Loan Company. Since its launch, HDFC Credila has been funding education for aspiring students in both India and Abroad.
A private company providing tax benefits
Coverage for more than 1000 courses
Financing more than 2100 institutes
Targeting more than 35 different countries
7 days of processing time
One way travel expense covered
No upper loan limit
Apply during the course
Most of the NBFCs ask for some margin from the customers. Margins up to 15% can be tedious to pay for expensive foreign universities. HDFC Education Loan offers you 100% finance.
An important aspect for the parents. One of the main advantages of opting HDFC Credila is that you get benefits on your tax returns. NBFCs lack this much sought-after feature as they are not regulated by the government’s plans.
Majorly banks and NBFCs cover many courses of graduation, postgraduation, and diploma. Still, there are some courses which are left out. HDFC covers more than 1000 courses including Agricultural courses, Hospitality courses, Purse Science disciplines, Advanced Sciences, and many other courses.
Credila funds all kinds of expenses. In order to do that, HDFC hasn’t kept a cap on the loan limit.
HDFC offers you this unique opportunity to apply for an education loan even after you have paid tuition fee with your money. You get an opportunity to get back the tuition fee already paid to the college. Henceforth, you can utilize the education loan.
Even if you are in a different city or country from your parents, Credila takes care of that.
Approval Before Admission
Assured Funds for your I-20 VISA
Easy to apply
Tax benefits under Section 80E of IT Act, 1961
Trust of the largest private sector lender of India
Free from responsibility
The convenience of on-door delivery.
Flexible on collateral security.
Loan repayment tenure up to 10 years
Less than 100% collateral.
Loan before admission
Quick Process within 7 days
Non-AICTE approved courses also covered
Longer duration courses of up to 6 years also covered