Study Abroad & Get Loan Sanction
Within 72 Hour
Upto ₹1Cr (Collateral)
Upto ₹50 Lac (Without Collateral)
11% - 14%
12 months \ 10 years
| Feature | Description |
|---|---|
| Margin Money | Nil |
| Processing Time | 10 - 15 days |
| Prepayment Charges | Any prepayment made in excess of the 25% threshold will incur prepayment charges of 2% of the prepaid amount from any source. |
| Study Level & Course |
Secured loan is available for all levels of courses. Unsecured loan is available only for PG (Stem and Management courses). |
| Expenses Covered |
Tuition fees Travelling cost One-way airfare Accommodation expenses Purchase of books, instruments, and uniforms |
| Property Acceptable |
Residential flat House Shop |
| Collateral & Non-Collateral | Yes |
| Co-Applicant: |
Parents Grandparents Immediate family members |
| Offer Letter |
Pre-Admission Loan allows students to secure funding for their education before receiving a final admission confirmation from the educational institution. Based on a conditional offer letter, students can proceed with the loan application and loan disbursement process. This helps students to have the necessary financial support in place to pursue their studies without delays. |
Eligibility criteria for the borrower
The student applying for the Education Loan should be an Indian citizen and at least 18 years old.
The student should be enrolled as a full-time student in a recognized institution.
An earning co-borrower in India is required to cosign the Education Loan.
All full-time courses from recognized colleges and universities in major countries like the USA, the UK, Canada, Singapore, Australia, Germany, France, etc.
HDFC Credila offers education loans for studying in over 35+ different countries across the world, including the USA, Canada, the UK, Germany, Australia, Singapore, France, etc.
No margin money required, allowing borrowers to borrow the full cost of education.
Customization options available to tailor the loan terms and repayment structure to the borrower's needs.
Expedited approval process in emergency cases to provide quick financial assistance.
Assistance provided during loan disbursements to ensure smooth transactions.
Pre-visa loan disbursement option available to meet early financial requirements.
Flexibility for the co-borrower in terms of income and eligibility criteria.
Income tax benefits available on the interest paid on the education loan.
Pre-admission education loan sanction provided to secure funding before final admission confirmation.
Apply online by filling out the application form and uploading the required documents.
The application will go through processing and approval, where the lender will review the application and verify the documents.
Once the loan is sanctioned and approved, the funds will be disbursed to the borrower. The borrower will receive the loan amount either through a bank transfer or as a direct payment to the educational institution.
Applicant and Co-applicant KYC
Academic Records
Proof of admission
Entrance Exam Result(if applicable)
Statement of cost of study/ Schedule of expenses
Income Proof for Salaried Co-applicant/ Guarantor (if applicable)
Bank account statement for last 6 months etc
Property Documents (if applicable)