HDFC Credila Education Loan for Study Abroad
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HDFC Credila Education Loan for Study Abroad

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Raj
Raj Vimal
Study Abroad Expert
Updated on Jul 17, 2024 21:46 IST

Under the HDFC Credila education loan students can borrow money to study 3300+ courses offered by 4600+ universities and colleges located in 63+ countries. HDFC bank offer student loans, which is the most preferred way to finance your study abroad dream. 

HDFC Credila Education Loan

HDFC Bank has a special loan for students looking to study abroad called the HDFC Credila Education Loan. Since it is a specialized loan for Indian students looking to continue their studies internationally, the whole process of getting this loan is comparatively simpler and easier. Here is some information about this loan.  

Features of HDFC Credila Education Loan

  • Offers education loans up to 100% of the total educational expenses 
  • Loan amount of more than Rs. 20 lakhs are available 
  • Repay loans via EMIs 
  • Competitive rates for students getting into top universities across the world. 
  • Doorstep service ensures loans are disbursed as quickly as possible 
  • Web billing and servicing 
  • Benefits under section 80(E) of the Income Tax Act 1961. 
  • The loan can be sanctioned before the admission is confirmed. 

HDFC Credila Loan Eligibility Criteria

  • The student should be a resident Indian. 
  • Applicants should be older than 16 years and younger than 35 years.
  • The co-applicant could be a parent, spouse, sibling, in-laws, or uncle/aunt.

Related links:

Documents Required for HDFC Credila Loan

Check out the list of documents required for education loan offered under HDFC Credila.

Category 

Applicant

Academic document 

  • Admission letter with fee break-up
  • Graduation mark sheets and score reports of any exam like GRE/GMAT/TOEFL/IELTS 

KYC 

  • Age Proof
  • Signature Proof
  • Identity Proof
  • Residence proof

Income documents 

  • Latest 3 salary slips carrying a date of joining details 
  • Previous 6 months bank statement of the bank account or income tax returns of the previous 2 years along with computation of income.
  • Last one year's Form 16 from the employer along with 1-year income tax return or audited balance sheet of previous 2 years.

Others 

  • Completed loan application form 
  • Latest photograph 

HDFC Credila Interest Rates and Fees 

It is important to know the ROI of HDFC Credila education loan before applying for this. Below, we have mentioned detail information about ROI and fees related to this study loan.

Description of Charges 

Education Loan 

Loan processing charges 

Up to 1.5% of the sanctioned amount 

Pre-payment charges 

None 

No objection certificate (NOC) 

None 

Duplicate of no dues certificate 

None 

Solvency certificate 

Not applicable 

Charges for late payment of EMI 

2% per month of installment (MI/PMII) + applicable taxes 

Credit assessment charges 

None 

Non-standard repayment charges 

None 

Cheque or ACH mandate or direct debit swapping charges 

Up to Rs.500 per swap instance plus applicable taxes 

Cheque/ACH/Direct debit bouncing charges 

Rs. 400 per dishonor of cheque/ACH/Direct Debit return per presentation + applicable any taxes 

Stamp duty and other statutory charges 

As applicable by the laws of the state 

Loan cancellation charges 

1% of the unveiled sanctioned loan amount + applicable any taxes 

Manual collection charges 

Rs. 200 per visit plus applicable any taxes 

Charges for updating and handling loan account as per customer request 

Rs. 1,500 plus applicable any taxes 

Document storage and retrieval charges 

For no collateralRs. 2,000 plus applicable any taxes 
For collateralRs. 4,000 plus applicable any taxes 

Learn More About Education Loans:

Note: Students, who wish to study abroad, may get in touch with India’s top-rated loan providers and apply for an education loan through Shiksha Study Abroad.

Q:   How can I get admission in the University of Manchester?

A:

The application process at the University of Manchester may vary depending on the course and level of study. However, here is the application process for UG and PG courses: 

The Undergraduate Application Process:  

Step 1:  You can apply through the UCAS common application portal.

Step 2: Go to the website and select the course you are interested in.

Step 3: Ensure you meet the Entry requirements (Academic qualifications, English proficiency, etc.

Step 4: Once you decide on the course, submit documents such as SOP, Transcripts and personal statements. 

Check out:  tips to improve your SOP

Step 5: You can track the application's progress through your given credentials by UCAS. 

Step 6: Once the applicant submits the application to UCAS, it forwards to the University, and the admission teams carefully analyse the application document.

Step 7: The university will send you an offer letter once selected. Hence keep checking your UCAS portal for your application status.

The Postgraduate application process: 

Step 1: Select the postgraduate course you are interested in from the University of Manchester.\

Step 2: Ensure you meet the entry requirements for the chosen program, as they vary depending on the course.

Step 3: Complete the online application by providing your personal information.

Step 4: Upload the required documents, such as Academic transcripts and proof of English language proficiency ( TOEFL/ IELTS). experience in your fields and references (depending on the course). You also may require Two LORs depending on the course. 

To make your admission better, check out the following: How Admission Officers Evaluate your application. 

Step 5:  If your application is successful, you will receive an offer from the University of Manchester. 

Q:   Is university of West of Scotland good for international students?

A:

The University of the West of Scotland has five modern and diverse campuses in United Kingdom. The University has welcomed more than 3,000 international students which are representing 1/3 of the globe. They also have 130 European partners who are actively in global study and exchange options through the Commonwealth universities programmes. The University also offers study abroad opportunities for UWS who are eligible for the same and also have more than 20 transnational education partners worldwide which helps them deliver UWS Bachelors and Masters Degrees around the world.

Q:   What is University of Wales, Trinity Saint famous for?

A:

University of Wales, Trinity Saint (UWTSD) was founded in 2010, is a public institution for higher education and research at multiple locations. It was set up under the 1828 royal charter of Lampeter, the institution was the result of the merger between Trinity University College and the University of Wales. The institution merged with the Swansea Metropolitan University in 2013.

  • Top Ranked University: The UWTSD is not ranked by any major ranking body, however as per the university ranking given on the official website of the university, it is ranked among:
  1. #1st in Wales and UK Top 5 Film Production and Photography
  2. #1st in Wales and UK Top 5 Fashion and Textiles
  3. #1st in Wales and UK Top 20 Graphic Design
  4. #1st in Wales and UK Top 5 Education
  5. #1st in Wales and UK Top 20 Sports Science
  6. #1st in Wales and UK Top 20 Mechanical Engineering
  7. #1st in Wales for Fine Arts
  • Variety of Courses: UWTSD offers more than 300 programs at various levels including undergraduate, postgraduate degrees as well as multiple online courses.
  • Highly distinguished and learned faculties: the faculty at UWTSD    is highly learned and distinguished which enables students to be the best in their field of study.
  • High Placements: According to Graduate Outcome data 2019-2020 quoted by the UWTSD, more than 95% of its graduates were found to be employed within 15 Months of graduation. The average salary of a graduate is not explicitly released by UWTSD, however, as per some unofficial sources the average salary of the graduates of UWTSD is approximately INR 30-35L. with the highest salary being reported as high as INR 66.5L for jobs in Financial Services.

Q:   What rank is Wolverhampton University in UK?

A:

The University of Wolverhampton is one of the best universities in the United Kingdom. The university is consistently ranked among the best universities nationally and globally. For nearly 200 years, the University of Wolverhampton has been consistently providing a quality of education to students and producing highly skilled graduates. The national rankings of the University of Wolverhampton are given below:

Ranking Body Ranking
The Guardian University Guide 2024 #101
The Complete University Guide 2024#117

Q:   Does the University of Essex require IELTS?

A:

International students whose native language is not English must meet the University of Essex English language requirements to get admission. The university accepts IELTS scores as proof of English language proficiency. Mentioned below are the IELTS scores required for UG and PG admission at the university:

English Language Test

 Score

IELTS

Overall score of 5.5 to 8.0 with minimum of 5.5 to 7.5 in each section

The university also accepts the score of other English language tests such as TOEFL and PTE for admission to undergraduate and graduate programs:

English Language Test

 Score

TOEFL iBT

Overall score of 72 to 114

PTE

Overall score of 59 to 84 with minimum of 59 to 80 in each section

Also read: Required IELTS Score for UK Universities

Q:   Why indian students choose to study at Hult International Business School - UK?

A:

Indian students choose to study at Hult International Business School in the UK for several reasons, including its highly ranked programs, global outlook, and career support. Hult offers a range of full-time master’s degrees, immersive bachelor's programs, and MBA options that prepare students to excel in the global job market. The school is the largest and top-ranked global business school, providing students with an incomparable universal outlook. Additionally, Hult's focus on experiential learning, extensive career support, and the opportunity to study at multiple campuses around the world are attractive to Indian students seeking a global business education. Furthermore, the school's emphasis on innovation and meeting the needs of students and employers may also contribute to its appeal to Indian students

Q:   How to prepare for UK 10th board exam 2025?

A:

Those who are preparing for the UK Class 10 exam 2025 are recommended to follow the tips below.

  • Know the exam pattern
  • Make a proper time table as per the syllabus
  • Solve previous year question papers
  • Make short notes of important formulas and theorems
  • Revise regularly
  • Figure out weaker areas and learn them well

With proper planning and hard work, students can easily clear the UK 10th board exam.

Q:   How to download UK Board 12th date sheet 2024?

A:

Following are the steps to download the UK 12th date sheet 2024. 

  • Open the Uttarakhand Board's official website at ubse.uk.gov.in
  • Click on 'Examination Scheme' available on the homepage
  • A new window will appear on the screen containing a link of the UK Board 12th date sheet 2024
  • Click the link and download the Uttarakhand 12th date sheet 2024
About the Author
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Written by
Raj Vimal
Study Abroad Expert

Raj Vimal has experience of 7+ years in SEO Content Writing, which includes 5+ years in the Ed-Tech industry. He has written articles about studying abroad, especially in the USA, UK, and other English-speaking coun... Read Full Bio

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Comments

(4)

37081371
Aatif mirza

3 years ago

I need a loan of around 30l for my master's My both parents are govt employees.

Reply to Aatif mirza

P

Piyush Kohli

3 years ago

Hi Aatif, banks check various things before giving a student loan like candidate's profile, course which you are going to pursue apart from the financial stability of the candidate. You should check with a major bank along with your documents for more clarification on this.

I want to study master of engineering in canada and want education loan without collatral up to 15 lacks. Can i gat it from any bank in india

Reply to Brijesh Pansuriya

P

Piyush Kohli

3 years ago

Hi Brijesh, banks offer a loan of up to Rs 7.5 lakhs without collateral. Fore more information on collateral, please check the below guide: https://studyabroad.shiksha.com/education-loan-applycontent61319

5 years ago

I am retired government employee. Getting 25000/- Rs monthly pension can I get education loan for my son for studying in abroad. And if I get how much.

Reply to

5173871
Swameeka Medhi

5 years ago

Hi Sapna, majority of Indian banks provides upto Rs. 20 lacs for studying abroad. Please read the article above to know about Credila loan. You may also check this guide https://studyabroad.shiksha.com/education-loan-applycontent61319

6 years ago

My Brother is NRI and he has Rs. 22,00,000 as FD in HDFC. My Son is an Engineering Graduate and wish to avail Education Loan for Studies abroad; keeping my Brother as a Co-applicant ( Collateral Security ) . Could you please advise the Feasibility of getting subject Loan..

Reply to