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Read about the education abroad loan and disbursement process of HDFC Credila. List of required documents, eligibility criteria, features, and benefits of HDFC Credila.
Did you know that the education loan sanction letter is valid for only six months and if you don't fulfill the disbursement formalities within the stated period of time, your loan application might get declined and you will have to redo the whole process?
It is essential that you comprehend the disbursement process in order to prevent any hiccups during your education loan journey.
A general outlook of the HDFC Credila education loan
Rate of Interest |
11% - 13% |
No margin money. |
|
6 months or 1 year after completing the course. |
|
Repayment tenure |
Up to 15 years |
Processing time |
7-10 working days after submission of required documents. |
Processing fees |
0.75%-1.25% of the sanctioned amount |
Check Your Education Loan Eligibility
During education loan disbursement, students often encounter several common problems that can cause inconvenience and delays. Some of these challenges include:
Up till now you must have understood the issues that students face after disbursement. However, HDFC Credila, unlike other lenders, ensures a smooth disbursement process, minimizing the issues commonly faced by students.
Advantage | Description |
---|---|
Tax benefits |
HDFC Credila qualifies for tax benefits under section 80E of income tax act |
Less processing time |
The entire loan process can take 15 days from the date of the loan application. |
Repayment in US dollars |
HDFC Credila offers students the option to repay their loan from the US in US dollars |
For a smooth disbursement process it is essential for students to make informed decisions regarding their education loans. When it comes to funding your education, making the right choices can shape your future. Remember that there are several crucial steps even after disbursement such as repayment and tax savings that require attention and expert advice. For a hassle-free disbursement process and to avail maximum benefits, turn to GyanDhan for expert guidance in securing the best education loan options tailored to your needs. We connect students with a range of loan options, provide expert financial advice, and facilitates end to end services regarding abroad education loans that are free of cost. So check your loan eligibility to kick start your abroad education loan journey today!
Read also
You can apply for a loan with HDFC Credila online by filling out the HDFC Credila education loan form and then submitting the documents. To ease the process, you can apply via GyanDhan and we will help you at every step of your abroad education loan.
Any Indian student can apply for an abroad education loan at HDFC Credila.
The Rate of Interest (ROI) for an education loan with HDFC Credila lies between 11%-13%.
To check your education loan status log in to your account on HDFC credila website.
HDFC Credila loan processing time is 7-14 working days. With GyanDhan by your side, you can complete your HDFC Credila education loan process within 5 to 7 working days.
Once HDFC Credila approves the loan application it further verifies all the documents and evaluates the student's profile. Once verification is done, the lender issues the sanction letter.
Check Your Education Loan Eligibility
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