HDFC Credila Education Loan
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Making payments on your education loan with HDFC Credila is easy! We have different modes of repayment which are easy because we value your time and money. HDFC Credila offers a variety of repayment options for Pre-Monthly Installment Interest (PMII) / Monthly Installment (MI).

After all, we believe in good Credit Practices.

Making payments on your education loan is easy! We offers a variety of payment options, Electronic clearing system (ECS ), Direct Debit Mandate (DDM), Deduction against Salary (DAS), to let you choose a method that's convenient for you.

What is an ECS?

ECS is an electronic mode of payment / receipt for transactions that are repetitive and periodic in nature. ECS is used for making periodic payment of loan installment repayments. Essentially, ECS facilitates bulk transfer of monies from one bank account to many bank accounts or vice versa.

Make regular loan repayment through ECS (Electronic clearance system). This will deducts your monthly loan repayment installment from your/ parents saving/ salary account when your education loan account are in an active repayment status. Which will help you to pay off your/ be lovers education loan regularly without delinquency/ default.

Why pay Pre-Monthly Installment Interest (PMII) / Monthly Installment (MI) through ECS ?

How do I avail of an ECS scheme?

My bank account details have changed. How do I make my payments now?

What are the documents required for ECS/ACH Swapping?

What are the processing or service charges levied on the customer?

Can a customer stipulate a ceiling on the amount of debit, purpose or validity period of the mandate under the ECS Debit Scheme?

Is there any limit on the value of individual transactions in ECS debit?

What are the consequences in case of ECS dishonour?

Can one ECS mandate be used for more than one bank account?

When do I have to fund my bank account for payment through ECS (Debit Clearing)?

How can I remit the defaulted payment of the ECS?

Direct Debit Mandate (DDM)

HDFC Credila offers Direct Debit Facility* online service also this service is rendered specially to customers who are not in reach of ECS. We may offer the Standing Instructions (SI) facility whereby we can directly debit your bank account for PMII/MI amounts on due dates. A Direct Debit is a financial transaction facility in which one can withdraws funds from another's bank account. Formally, the person who directly draws the funds ("the payee") instructs his or her bank to collect (i.e., debit) an amount directly from another's ("the payer's") bank account designated by the payer and pay those funds into a bank account designated by the payee. Before the payer's banker will allow the transaction to take place, the payer must have advised the bank that he or she has authorized the payee to directly draw the funds. The authorities are set up, the direct debit transactions are usually processed electronically. Direct debits are typically used for recurring payments, where the payment amounts vary from one payment to another. To avail this facility one has to file duly signed a Direct Debit Mandate and verified by the bankers. (*applicable only when the ECS facility is unable to provide or as per the terms and conditions agreed.)

Deduction against Salary (DAS)

HDFC Credila offer DAS* service for your monthly repayment. (*applicable only when the ECS facility is unable to provide or as per the terms and conditions agreed.)

Other Options for Repayment

You can make additional/ bounced payments on your loan by choosing other repayment option's also.


DD or Cheque

UPI/RuPay Debit Card

HDFC Credila Financial Services Pvt. Ltd., Formerly known as Credila Financial Services Pvt. Ltd. is a Subsidiary of HDFC Limited. HDFC is leading financial services company of India.
HDFC Credila Financial Services Private Limited Registered Office: B 301, Citi Point, Andheri-Kurla Road, Andheri (East), Mumbai-400 059, India