|Edu. Loan Features||HDFC Credila||Others|
|Up to 100% finance|
|Loan amount over Rs.20 lakhs also available|
|Repayment tenure up to 10 years (Easy EMIs)|
|Less than 100% collateral|
|Loan against property mortgaged with HDFC Ltd.|
|Loan Sanction before admissions also|
|Attractive rate of interest||Maybe|
|Tax benefit under Section 80-E of Income tax Act||Maybe|
|Quick and hassle free process|
Following are the supporting documents needed to apply for education loan:
1. Fully Completed and Signed Application Form
To Download Loan Application Form in PDF Format Click Here
2. Two Passport Size Photos - Applicant and Co-Applicant
One set to be pasted on the Application Form and second set to be affixed (stapled) to the Application Form
3. Photo ID - Applicant and Co-Applicant (Any one of the following)
4. Residence Proof - Applicant and Co-Applicant (Any one of the following)
The following types of collateral are accepted
5. Academic Documents of Student
6. Proof Of Admission (If available)
Printed Admission Letter From the Institute on its Letterhead With Institute’s Address
7. Last 8 Months Bank Statements of Co-Applicant.
(If more than one bank account, provide copies of all)
Make sure to include the bank statements of the Bank Account where Salary or Business/
Professional receipts are credited every month.
8. Income Proof of Co-Applicant
A. In case of Salaried Employee (All the following)
B. In case of Self Employed or Professional (All the following)
9. If, Collateral - Immovable Property (Flat, House, Non-Agriculture Land) (All the Relevant Documents from the Following List)
Note: Other than original completed application form, Please DO NOT provide any original supporting documents to HDFC Credila at the time of applying for loan. All the copies of the above provided documents should be self-attested.
HDFC Credila has a student friendly education loan application process:
That’s actually the main feature of Credila’s benefits offered to students. HDFC Credila offers. Sanction letters even before your admission is confirmed. It will help you in getting favourable reply while applying for I20s as some Universities prefer solvency along with the application form. Secondly, you will know your eligibility right away so that you can plan your finances accordingly.To get admission to the US Universities & to get I-20 for US visa, "Availability of Liquid Funds" to complete the course needs to be demonstrated. HDFC Credila’s "Education Loan Sanction Letter" before admission can help you show the availability of liquid funds.
HDFC Credila, therefore, understands problems, challenges and issues faced by the students and their parents. HDFC Credila’s objective is to work closely with students and parents to try to identify the appropriate education loan programs for them.
Rate of interest will be floating rate of interest linked to HDFC Credila’s Benchmark Lending Rate (CBLR), For HDFC Credila’s current CBLR Click Here. In order for us to provide you exact terms of loan for your specific requirements, please fill in the online application form.
Please click on "Apply for Loan" button on HDFC Credila’s web site. You’ll see our online loan application form there. You can go ahead and fill in that application right now.
Our credit team can then review the entire information and we can respond, if we can do the case or not.
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