HDFC Credila has funded tens of thousands of students from India to over 2100+ unique educational institutes across 35+ countries! Customized Education Loans, Home Delivered!
What Costs Are Covered?
All of the tuition fees as determined by the college/University. Up to 100% of other expenses including living and hostel expenses, travelling expenses, examination fees, library/laboratory fees; purchase of books / equipment’s/instruments/uniforms; passage money for studies into India; purchase of computers / laptops considered necessary for completion of the course as decided by HDFC Credila. Travel fare restricted to one economy class return ticket between India and the USA(study location).
- Rate of interest will be floating rate of interest linked to HDFC Credila’s Benchmark Lending Rate (CBLR)
- The interest will be calculated using Simple Interest Rate
- Floating rate of interest to be (HDFC Credila’s CBLR + Spread)% per annum
- The loan amount will be disbursed in Indian Rupees
- HDFC Credila will disburse the tuition fee to the educational institute either directly or through an authorized servicer
- The tuition fee will be disbursed in installment as per the requirement of the specific educational institute
Loan Re‐payment Terms
- Loan interest re‐payment will start immediately after disbursement of the first installment of the loan
- Tenure of an education loan consists of Duration of Study + Grace Period after the Study + Repayment Period
- HDFC Credila offers maximum tenure of 12 years
- Monthly repayment amount will be deducted from the bank account of the borrower/co‐borrower using Electronic Clearing System (ECS)
The following types of collateral are accepted
- Residential Flat
- Residential House
- Non‐Agricultural Land
- A Fixed Deposit, assigned in favour of HDFC Credila