Loan Margin: NIL
Processing Fees: 1.0% to 1.2% of Loan Amount
Features Of HDFC Credila Abroad Education Loan
|Features||Education Loan Details|
|Loan amount||Upto ₹50Lac (Without Collateral)
Exceptional cases - up to 1 Crore.
|Interest rate||The HFC Credila education loan interest rates and charges are mentioned below:
Rate of Interest - The interest rate is a floating rate related to HDFC Credila's Benchmark Lending Rate (CBLR). CBLR is currently 12.55% per annum.
Processing Fee - 1.0% to 1.2% of Loan Amount
Pre-payment charges - Every fiscal year, the borrower has the option to pay up to 25% of the starting principal due without incurring any fees.
|Processing fee||1.0% to 1.2%|
|Processing time||12 Working Days|
|Loan tenure||14 Years|
|Repayment holiday||Interest to be paid during the moratorium period.|
EMI starts after the completion of course + 6 months.
|Countries covered||HDFC Credila offers abroad education loans to study in over 35+ different countries across the world including the USA, Canada, the UK, Germany, Australia, Singapore, France, etc|
|Payment study period||Yes, simple interest.
For selected good profile, partial interest repayment available.
Benefits of HDFC Credila Abroad Education Loan
No Margin Money
Expedited Approval In Emergency Cases
Assistance During Loan Disbursements
Pre-Visa Loan Disbursement
In some countries, loan disbursement must occur prior to the issuance of a visa. Wecare Capital will make certain that students receive their funds in a timely manner. We will obtain all essential clearances ahead of time so that you do not need to be concerned about your funds or visa.
Flexibility For Co-Borrower
Income Tax Benefits
Pre-admission Education Loan Sanction
The HDFC Credila Education Loan has a unique characteristic in that it can be sanctioned even before you receive your acceptance letter! Credila takes your GRE score into consideration in order to do so. If you apply for an HDFC Credila Education Loan with Wecare Capital, you can be certain that we will manage the whole procedure for you. You will be able to devote all of your attention to writing your college application and preparing for entrance interviews in this manner.
Benefits for Students
Benefits for Parents
Benefits Of Getting Your HDFC Credila Abroad Education Loan Through Wecare Capital
Higher Chance Of Approval
By applying for your education loan through Wecare Capital, you are increasing your chances of approval. Generally, banks dismiss applications if they find any missing documents, property issues, or any other problem. With Wecare Capital, we will immediately reach out to HDFC Credila officials and find the best solution.
Online Submission Of Documents
With Wecare Capital, you can submit all the required documents from home! There won’t be any need to visit the branch. Simply head over to our website and submit all the documents there. There won’t be a possibility of not submitting an essential document, as our system is designed to ensure all essential documents are submitted.
No Cost To You
Eligibility Criteria For HDFC Credila Abroad Education Loan
|Eligibility Criteria For HDFC Credila Education Loan||You are eligible to apply for the HDFC student loan only if you’ve met the following requirements:
For the borrower -
1. The student applying for the Education Loan should be an Indian citizen, 18 years old or above.
2.The student should be enrolled in a recognised institution as a full-time student.
3. An earning co-borrower in India should co-sign the Education Loan.
For the co-borrower -
1. Co-borrowers are required to have a bank account in India. Co-applicant(s) must be Indian citizens.
2. Co-applicant need to show proof of earning based in India. A co-applicant can be any of the following relatives - Father / Mother / Brother / Sister (married) /Spouse/ Father-in-law/ Mother-in-law/ Sister-in-law/ Brother-in-law/ Maternal or Paternal Uncle or Aunt/ Grandparents & First Cousins.
|Eligible Courses||All full-time courses from recognized colleges and universities in all major countries like the USA, the UK, Canada, Singapore, Australia, Germany, France, etc.|
|Eligible Countries||HDFC Credila offers abroad education loans to study in over 35+ different countries across the world including the USA, Canada, the UK, Germany, Australia, Singapore, France, etc.|
Documents Required for HDFC Credila Abroad Education Loan
|Identity Details||1. Permanent Account Number (PAN) Card |
2. Voter’s ID Card
4. Driving License
5. Aadhaar Card
|Academic Documents||1. Marksheet/Certificate of 12th Exam|
2. Marksheet/Certificate of Subsequent Years of Education e.g. BE, BCom, BSc, etc.
3. Marksheet of Any Entrance Exam Taken e.g. CAT, CET, GRE, GMAT, IELTS, TOEFL, etc. (If applicable)
4. Scholarship Documents (if applicable)
|Financial Documents||1. (If more than one bank account, provide copies of all)|
2. Make sure to include the bank statements of the Bank Account where Salary or Business professional receipts are credited every month
|Income Proof of Co-Applicant||A) For Salaried Employees (All the following)
1. The most recent three salary slips or salary certificate on employer letterhead
2. Employer Form 16 from the last two years or Income Tax Returns from the previous two years
3. Any Other Income Proof Not Included in the Above Documents
B) If you are self-employed or a professional (All the following)
1. Income Tax Returns for the Previous Two Years
2. CA-Certified Financial Statements or Provisional Financial Statements for the Previous Two Years
(any one of the following, Lease Deed, Utility Bill, Title Deed, etc.)
3. Any Other Income Proof Not Included in the Above Documents
Loan Repayment For HDFC Credila
How To Apply For HDFC Credila Abroad Education Loan?
- Once you’ve established your HDFC Credila education loan eligibility, you can submit an online application or get in touch with one of our expert education loan counsellors to schedule a callback. Our counsellors can assist you in obtaining an HDFC student loan with or without collateral, depending on your needs.
- After you’ve submitted your profile information, our specialists will carefully review it and, based on your eligibility, recommend the following course of action to you.
- Wecare Capital enables students to upload documents digitally, sparing you the trouble of having to present your documents at the bank and allowing you to do it from the convenience of your home.
- In addition, Wecare Capital gives you a customised set of documents to submit based on your profile and the loan you’ve applied for to speed up the process.