- HDFC Credila has invested time and resources to set up appropriate systems, processes and know-how related to the education industry.
- HDFC Credila has numerous databases on education sector and their credit scoring model for the approvals of loans is designed specifically for student loans.
- Credila, therefore, understands problems, challenges and issues faced by the students and their parents and also the institutes.
- Our objective has been to work closely with students and parents to try to identify the appropriate education loan programs for them.
Students and parents face multiple challenges while planning for
their higher education. Some of the issues faced by students include:
- Flexibility in terms of the loans which need to be customized to the requirements of the students and their respective courses.
- Ability to find the required margin money (portion of the fees that is to be paid by students/parents which is not covered by the loan).
- If the required loan amount is more than the value of the collateral security.
- Ability to prove that the University, College and the applied Course is appropriate. (This can be quite challenging if the decision maker is not aware of the thousands of valid and accredited educational choices available in today's fast changing world of education)
- Ability to get the loan approval letter in time to meet the admission and visa related deadlines.
- Ability to get appropriate customer service during the repayment cycle.
- Ability to repay the loan from overseas.
- Ability to get web-based access to the loan account with web enabled transaction processing inclusive of electronic payments, etc.
And does HDFC Credila have a solution to the above mentioned problems?
YES ! HDFC Credila has a solution to these problemsthrough it's flexible terms, unmatchable features, and service standards.
HDFC Credila has a solution to these problems through it's unmatchable features and service standards. Unlike banks which typically charge a fixed rate for a certain category of students, HDFC Credila has a range of rates depending on the institute, co-borrower details, collateral security offered and the academic background of the student. HDFC Credila offers customized education loans, home delivered!
Students planning to study abroad face a chicken-and-egg situation. Some foreign institutes, such as those in the U.S, require a proof of finances at the time of admission. However, most banks in India don't approve education loan unless and until the student has a confirmed admission in the given institute. In these situations, typically students end up compromising on the quality of the institute and feel like downsizing their dreams. However, due to Credila''s unique solution, Students Don't Have to Downsize Their Dreams!
HDFC Credila has a solution to this. HDFC Credila provides education loan approval letter even before the student getting confirmed admission. This approval letter from HDFC Credila during the admission process of the student typically satisfies the institute that the student, does have the required liquid funds. The real loan gets disbursed, after the student gets the admission and requires the funds. Students do NOT have to pay any interest unless the education loan is disbursed.
In addition to this, with specialized focus, in depth understanding of problems faced by students who wish to pursue higher education, HDFC Credila offers customized packages and unique services that make getting a loan more convenient at competitive interest rates.
Also, HDFC Credila has specialised products for Germany. We understand that students going to countries like Germany require 60-70% of their education loan to be disbursed before the Visa process. While Indian Banks do not give out these loans before Visa, HDFC Credila has provided a
solution to this too.
Hence, in depth understanding of problems faced by students who wish to pursue higher education,
HDFC Credila has become the preferred education loan provided of thousands of students,
Education Loan Features 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 May be
Tax benefit under Section 80-E of Income tax Act May be
Quick and hassle free process