HDFC Credila Education Loans

With HDFC Credila Education Loan now available on Bajaj Markets, students can gain access to a maximum loan amount of Rs. 75 Lakhs for unsecured loans, with no upper limit on secured loans. The competitive interest rates, starting at 10.25% per annum, ensure affordability, making quality education within reach.Individuals can reap the benefit of a flexible repayment tenure, extending up to 15 years. The eligibility of the applicant is determined on the basis of their academic acheivements, chosen institute/course/country and their co-borrower’s financial profile. The digital application journey, coupled with faster disbursal ensures a seamless borrowing experience.

Features:

● Get Sanction letter

● Initiate Disbursement

● Upload Documents

● Get Discount Coupon Codes

● Calculate Income Tax Savings under section 80E

● Manage University & Course details

Highlights:

HDFC Credila Education Loan funds the education of Indian students studying in India and abroad. 

It has no upper limit on loan amounts and funds 100% of your education. 

There are different interest rates Credila charges depending on the country you are planning to study in, however, the interest rates range between 10-14%. 

You can borrow up to 7.5 lakhs for non-collateral education loans and any amount above 7.5 lakhs needs collateral. 

It’s processing fees range from 1-2% and vary according to the country. 

FAQs:

When does the repayment of the HDFC Credila education loan begin?

The repayment generally starts after the completion of the course. HDFC Credila offers a moratorium period of course period plus one year or 6 months after getting a job.

What are the options available for making repayments?

HDFC Credila provides multiple repayment options for borrowers like Electronic Clearing Service (ECS), National Automated Clearing House (NACH), post-dated cheques, and standing instructions (SI) for automatic debit from the borrower’s bank account.

Can I make early repayments towards the HDFC Credila education loan?

Yes, HDFC Credila allows borrowers to make prepayments or part-payments towards their education loan without charging any prepayment penalties. This helps borrowers reduce their overall loan tenure and interest burden by paying off the loan earlier than the scheduled tenure.

What happens if I miss an EMI payment or pay less than the required amount?

If a borrower misses an EMI payment or pays less than the required amount, the loan can become delinquent. This may lead to late fees, and the delinquency may be reported to credit agencies.

Can I change my EMI amount or tenure during the loan repayment period?

Yes, borrowers can negotiate changes in EMI amount or loan tenure with HDFC Credila, depending on their financial situation. By extending the tenure, borrowers may reduce the EMI amount.