HDFC Credila Education Loan
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FAQsLoan Eligibility

1. What are the required factors for the loan?

HDFC Credila Education Loan depends on multiple factors such as:

  • Academic background of the student
  • Type of course and University for which education loan is applied for
  • If collateral is offered against the loan or not. Type of collateral offered.
  • Co-borrower/guarantor on the loan. Job profile of the co-borrower etc.

2. What is it that you see in the application, rather what do you look out for?

Banks and other lenders normally check:

  • 1. Students past academic track record
  • 2. Quality of institute/college and course the student wish to pursue
  • 3. Student's ability to get an appropriate job after the course that he/she is seeking education loan for
  • 4. Also, the potential salary is also estimated to calculate eligibility of loan amount
  • 5. Also, credit histories of the applicant and co-applicants play an important role in approval
  • 6. Lastly, the value and type of property being offered as collateral security for higher value loans also play an important role in decision

3. Can I get a special privilege if I am an old HDFC Bank customer?

Yes. HDFC Bank is a group company and we are very sensitive towards our existing customers. You will get best of services and product considerations.

4. Can I avail Education loan, if no one stand as Guarantor for my case?

Sir, we generally require family members as co-borrowers. It again depends on your overall profile and the study course you are interested in. We have different product propositions for different study courses. Please connect with us at 18002093636 or with you RM for details.

5. I have a home loan outstanding. Am I still eligible to apply for the educational loan?  / my father has a home loan outstanding.  Can he still be a guarantor/co-borrower?

Yes, you can apply for the educational loan and your father can be the co-borrower provided he has a good income or we shall require additional co-borrower from your relative with a good income proof.

6. Will HDFC Credila provide Education loan based on my profile (Work Experience)?

Yes. Work Experience and profile are key indicators in loan assessment procedure but these are not the only criteria for sanctioning as there are numerous other parameters involved.

7. How much loan can I get From HDFC Credila?

HDFC Credila is the only lender that not only finances upto 100% of the cost of education but also gives education loan over Rs. 20 lakhs. What's more, HDFC Credila also covers living to expenses in addition to tuition fee.

8. Are there specific courses that can avail of loans and any courses that can just not avail of loans?

Normally, students seek education loans for professional courses with relatively higher fees structures. However, the quality, reputation, accreditation by renowned authorities etc. are few of the parameters on which the banks and FIs decide to extend loan programs

9. Any gender divide, in the sense –any research to say that more women are granted loans or more men?

No such data is available. At HDFC Credila, our approach is to decide based on the merit of the student and the application and does not have any bearing on the gender of the student

10. Does the name of the institute make a big difference whether India or abroad? Name one or two institutes in India and abroad, which fall in this category?

Institutes reputation does make a difference. For e.g. students getting admission in IIM Ahmedabad, ISB, Hyderabad in India and Harvard, Wharton, Carnegie melon, London Business School etc. abroad get special benefits in education loan products from banks and other lenders

11. Do govt-approved institutes or AICTE approved institutes stand a better chance? What would be the equivalence abroad?

Yes. College, university rankings by the fabled and unbiased organizations help students and lenders to take right decisions

12. Do rankings of the institute make a difference to you?

While rankings by unbiased entities do help, we follow more holistic approach of evaluating student's individual abilities, work experience and co-applicants profile

13. Does every bank have a list of preferred institutes and black listed ones?

To cater to huge demand from the Indian students, almost every day new colleges/institutes/universities are getting launched and only a focused specialized lender would be able to understand the difference in quality.
We have a robust process to check whether the institutes are recognized/accredited by the appropriate authorities. Furthermore, at HDFC Credila, we also evaluate the quality and employability of courses

14. If a loan is rejected one year, does it make sense for the applicant to try to the same bank the next year?

Yes, if the circumstances (like different and better college etc.) are different, it may be a good idea to try again with same and/or other lenders.

15. Is there a destination issue for international loans? What if one wants to study in Brazil or Mexico? Will it be viewed differently?

HDFC Credila has funded thousands of Indian students who have gone to study across 33 countries. If the institute/college/university is reputed, we are comfortable in extending loan to Indian students going to different countries for pursuing their dreams of quality higher education.

16. Age bias?

We have not defined any age limit for the borrowers. The decision is taken on the evaluation of reason of motivation for pursuing higher studies and also the potential of students to benefit from it in their careers

17. How do NRI loans work?

The applicant and co-applicants have to be Indian passport holders. In some cases, HDFC Credila accepts additional co-applicants who are NRIs but they must have some one who has Indian passport and valid address

18. Does work-ex make a difference to you while granting a loan?

Yes, work experience does make a positive difference while granting a loan

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