Eligibility:-

Eligibility criteria for the borrower

• The student applying for the Education Loan should be an Indian citizen and at least 18 years old.
• The student should be enrolled as a full-time student in a recognized institution.
• An earning co-borrower in India is required to cosign the Education Loan.

Eligible Courses

• All full-time courses from recognized colleges and universities in major countries like the USA, the UK, Canada, Singapore, Australia, Germany, France, etc.

Eligible Countries

• HDFC Credila offers education loans for studying in over 35+ different countries across the world, including the USA, Canada, the UK, Germany, Australia, Singapore, France, etc.

Benefits:-

• No margin money required, allowing borrowers to borrow the full cost of education.
• Customization options available to tailor the loan terms and repayment structure to the borrower's needs.
• Expedited approval process in emergency cases to provide quick financial assistance.
• Assistance provided during loan disbursements to ensure smooth transactions.
• Pre-visa loan disbursement option available to meet early financial requirements.
• Flexibility for the co-borrower in terms of income and eligibility criteria.
• Income tax benefits available on the interest paid on the education loan.
• Pre-admission education loan sanction provided to secure funding before final admission confirmation.

How To Apply:-

• Apply online by filling out the application form and uploading the required documents.
• The application will go through processing and approval, where the lender will review the application and verify the documents.
• Once the loan is sanctioned and approved, the funds will be disbursed to the borrower. The borrower will receive the loan amount either through a bank transfer or as a direct payment to the educational institution.

Documents:-

• Applicant and Co-applicant KYC
• Academic Records
• Proof of admission
• Entrance Exam Result(if applicable)
• Statement of cost of study/ Schedule of expenses
• Income Proof for Salaried Co-applicant/ Guarantor (if applicable)
• Bank account statement for last 6 months etc
• Property Documents (if applicable)