HDFC Credila Education
Loan EMI Calculator

Loan Amount (₹)
Interest Rate (%)
Tenure (Yrs)
EMI
0
EDUCATION LOAN FOR HIGHER STUDIES, OFFERS UPTO 100% FINANCE FROM 8-10 LAKHS, UPTO 35 LAKHS FOR PROFESSIONAL COURSES IN INDIA
Interest
Rate

Loan limit Interest Rate
No Upper Limit (More than 1 Lac) 11.85% - 14.5%
Loan Amount &
Security

Secured Unsecured
No Limit (more than 1 Lac) No Limit (more than 1 Lac)
Charges &
Repayment

Processing fees Upto 1.5% of the loan amount + applicable taxes
Pre-payment charges Nil
Late Payment 2% per month on installment + applicable taxes
Repayment period Upto 12 years
Moratorium period Course Period + 6 to 12 months
Repayment types Partial interest will start immediately after the first disbursement.Monthly Interest will be deducted from the bank account of the borrower/co‐borrower using Electronic Clearing System (ECS).Flexible choices of repayment terms.
Loan Cancellation Charges Nil
Eligibility
Criteria

  • Indian resident/citizen
  • Co‐applicants(s) must be an Indian citizen
  • Confirmed admission in the colleges before disbursement
  • Borrower and Co‐applicant(s) to meet HDFC Credila’s credit and underwriting norms
Key Benefits &
Coverage

Tax benefits under section 80 E
Margin
  • Nil
Course covered
  • MBA/PGDBM, Executive Management Courses, MBBS/MD, Engineering, etc.
Expenses covered
  • Up to 100% of other expenses including living and hostel expenses, travelling expenses, examination fees, library/laboratory fees etc.
Required
Documents

Student Co-Borrower
KYC
  • Photo ID
  • Residence Proof
  • 2 passport size photograph
  • Aadhaar
  • Pan card
  • 2 passport size photograph
  • residence proof(elctricitybill/telephone bill/house lease agreement/bank statement)
EDUCATION
  • Admit letter
  • College fee-breakup
  • GRE/GMAT/TOEFL/IELTS, etc. Marksheets (If applicable)
  • X, XII and Graduation mark sheet
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INCOME
  • Lastest 2 salary slips
  • 6 months bank account statement of the salary account
  • 8 month bank account statement
  • ITR/Form 16 of last 2years
  • Income proof( Latest 3 salary slips )
Security
    ---
  • Residential Flat
  • Residential House
  • Non‐Agricultural Land
  • A Fixed Deposit, assigned in favour of HDFC Credila