Credila Education Loan
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FAQsCollateral

1. Types of Collateral that can be offered?

The Collateral should be any one of the following assists:

  • Moveable Collateral – Fixed Deposit
  • Immoveable Collateral – Flat, House, Bungalow, Land (Non-Agricultural), Shop, etc.

2. Why collateral is required when my co-borrower has a very good income?

Collateral is required to mitigate the risk involved in the credit. Since the student hasn’t started to earn yet, we are not sure of his future income and profile, hence the collateral. In case you have any loan with HDFC Limited, it’s an extremely simple process and can be fulfilled by our dedicated Relationship Managers It’s in the interest of the students and parents to provide the required collateral as that enables the students to get better interest rates on education loan.


3. What if a student has no support system or surety?

As explained earlier, we do give weightage to the student’s past academic track record, entrance test scores, future school/institute/university’s reputation and employability.
Credila offers unsecured loans up to Rs. 20 lakhs for meritorious students going to select colleges in India as well as Abroad


4. My collateral is mortgaged with SBI and is of a high value. Can I give the same property as collateral?

You will have to get it transferred to HDFC Ltd for us to take a second charge. Our RM can help you out here with necessary procedure and documentations.


5. My friend got the loan without any mortgage for the same program from the same university. Credila has asked for a collateral from me.  Why ?

Risk assessment consists of multiple financial and demographic variables. Every customer has a different profile and needs to be fulfilled accordingly. We try our level best to offer the best possible product to match customer requirements and profile.


6. Do you accept agricultural land/ commercial shops/ GPAs/B-Khata properties as collateral? What type of property will qualify as collateral?

Credila accepts property with clean title and appropriate documentation. Each case is to be evaluated based on the merit of the case and property related information


Credila Financial Services is a Subsidiary of Housing Development Finance Corporation Limited (HDFC) . Housing Development Finance Corporation Limited is one of the leading financial services companies of India.
Credila Financial Services Private Limited Registered Office: B 301, Citi Point, Andheri-Kurla Road, Andheri (East), Mumbai-400 059, India