Student's loan

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).

Loan Amount

  • 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

Loan Disbursement

  • 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)

Collateral
The following types of collateral are accepted

  • Residential Flat
  • Residential House
  • Non‐Agricultural Land
  • A Fixed Deposit, assigned in favour of HDFC Credila