Credila Financial Services Limited, formerly HDFC Credila Financial Services Limited, is India's first dedicated education loan NBFC. It provides customized loans for Indian students pursuing higher education in India and abroad.
Credila has funded over 226,000 Indian students across more than 64 countries in 5,200+ universities*.
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Basic bank details
Maximum Loan Amount
Up to ₹3Cr
Interest Rate Range
12% to 18%
Margin Money
5% -15%
Processing Fees
10,000 + GST
Moratorium Period
Course Duration + 6 M
Repayment Tenure
10 Years
Loan Type
Secured & Unsecured
Processing Time
3-10 Working Days
Loan Repayment Method
EMI
Eligibility Criteria
Indian citizen, 16+ years, confirmed admission to recognized institute (India/abroad, all courses).
Co-applicant: Parent/spouse/sibling/relative/guardian with stable income and good credit.
Strong academics (e.g., 60%+ for unsecured; GRE/IELTS/TOEFL scores for categorization).
Covers 64+ countries including USA, UK, Canada, Australia.
Document Requirement
KYC: Aadhaar, PAN, Passport, Voter ID/Driving License.
Academics: 10th/12th/grad transcripts, certificates, entrance exams (GRE/TOEFL/IELTS/Duolingo).
Admission: Letter/I-20, cost statement, student visa. For Co-Applicant:
KYC: Same as applicant plus address proofs (utility bills).
Income: Salaried - 3m salary slips, Form 16 (2y), 6m bank statements; Self-employed - 2y ITR, GST/Shop Act, 6m bank statements.
Assets/liabilities statement; Employment/Business proof. Collateral (if required):
Sale deed, property tax receipt, approved plan/occupation certificate.
KYC documents of co-applicant
Income proof (salary slips, ITR, bank statements)
Employment certificate
Property documents (if collateral required)
Key Features
Online Application: Easy and convenient process.
100% Financing: Covers tuition and ancillary expenses.
Unsecured Loan: Up to ₹75 lakh without collateral.
0% TCS: No Tax Collected at Source on foreign remittances.
Tax Benefits: Interest deduction under Section 80E (old tax regime).
No Margin Money: Full loan amount without upfront payment.
Flexible Repayment: Up to 15 years tenure.
Multi-City Co-Borrower: Flexible co-applicant options.
Seamless Sanction: Quick and hassle-free loan approval.
No Prepayment Charges: Repay early without penalties.
Insurance Cover: Optional protection for peace of mind.
Travel Expenses: Covers international travel costs.
Bank Transfer Facility: Direct payment to institutions/vendors.
Top-Up Loan: Additional funding for unforeseen expenses.
TCS Concession: Reduced upfront financial burden.
Contact your counsellor for special offers from Credila.
How does it work
Total Processing Time
Upload documents securely, get instant verification, and track your application 24/7 through our online platform
Expert Personal Support
Dedicated relationship manager with multilingual support to guide you through the entire loan process
Fastest Loan Processing
Get your education loan approved 3x faster than traditional bank applications with our streamlined process
FAQ
Does Credila's overseas education loan cover all study costs?
How quickly does Credila approve education loan applications?
What documents are needed to apply for a Credila education loan?
Who qualifies as a co-applicant for a Credila study abroad loan?
Is a co-signer mandatory for Credila education loans?
Why is the electronic mandate higher than the monthly payment in Credila loans?
Why is interest payment required during the course period in Credila loans?
How does Credila determine the interest rate for education loans?
How flexible are repayment terms for Credila student loans?
What collateral options does Credila accept for secured loans?
