Study Abroad with HDFC Credila Education Loan

You have heard of banking companies offering education loans but have you ever heard of an education loan specialist lender? HDFC Credila Financial Services is India’s first Non-banking Finance Company (NBFC) dedicated solely to education loans. And they have great education loan deals to offer.

This NBFC is a subsidiary of HDFC and offers student loans for both studies abroad and in India. The specialized lender has one core objective - to work closely with parents and students to help choose an education loan that befits them.

_x000D_

What’s HDFC Credila Education Loan for Foreign Education?

_x000D_

HDFC Credila has provided education loans to thousands of Indian students pursuing higher education in more than 35 countries in over 1000 colleges and universities. Because Credila understands the many hurdles, problems, and complexities students face while applying for an educational loan, they provide customized solutions that suit the country and college of your choice.

Here’s what you need to know before applying for a study loan from HDFC Credila:

_x000D_

How to Apply for HDFC Credila Education Loan?

_x000D_

_x000D_
• First, check your loan eligibility here.
_x000D_
• Our team will immediately give you a call. After analyzing your profile and checking your eligibility criteria, we will guide you through the next steps to be taken to apply for a Credila education loan.
_x000D_
• As a part of the next steps, you will have to fill the HDFC Credila education loan application form and provide complete, valid, and correct details.
_x000D_
• Now comes the documentation step. The best part about applying for a Credila Education Loan through GyanDhan is that you can submit the documents online. Through our online upload facility available on the GyanDhan portal, you can carry out the entire documentation process from your home.
_x000D_
• Your application is reviewed. If you fulfil all the HDFC Credila education loan requirements, the loan is approved. You sign the agreement, and the money is transferred to your account electronically.
_x000D_

_x000D_

What are the HDFC Credila Education Loan Documents Requirements?

_x000D_

When submitting your fully completed HDFC Credila education loan form and two photos, you have to provide self-attested copies of the following documents:

_x000D_
1. A Photo ID. Any of the following: Passport PAN Card Aadhaar Card Driving License Voter's ID Card
_x000D_
2. Passport
_x000D_
3. PAN Card
_x000D_
4. Aadhaar Card
_x000D_
5. Driving License
_x000D_
6. Voter's ID Card
_x000D_
7. Address Proof. Any of the following: Passport Aadhaar Card Driving License Voter's ID Card
_x000D_
8. Passport
_x000D_
9. Aadhaar Card
_x000D_
10. Driving License
_x000D_
11. Voter's ID Card
_x000D_
12. Proof Of Admission
_x000D_
13. Academic Documents. All of the following, where applicable: Certificate/Marksheet of 12th exam Marksheet/Certificate of subsequent years of education, e.g. B. Tech GRE or GMAT, TOFEL or IELTS scorecard Marksheet of any entrance exam taken, e.g. CAT Scholarship documents
_x000D_
14. Certificate/Marksheet of 12th exam
_x000D_
15. Marksheet/Certificate of subsequent years of education, e.g. B. Tech
_x000D_
16. GRE or GMAT, TOFEL or IELTS scorecard
_x000D_
17. Marksheet of any entrance exam taken, e.g. CAT
_x000D_
18. Scholarship documents
_x000D_
19. Bank Statement. Previous 8-month Statements of the Co-applicant of All Bank Accounts.
_x000D_
20. Income Proof of Co-applicant. For Salaried Employee, All of the following: Last 2 year's income tax returns or last 2 year's Form 16 from the employer. Latest 3 salary slips or salary certificate on employer's letterhead. Any other income proof that is not reflected in the above documents. Last 2 year's income tax returns or last 2 year's Form 16 from the employer. Latest 3 salary slips or salary certificate on employer's letterhead. Any other income proof that is not reflected in the above documents. For Self-employed Co-applicant, all of the following: Last 2 years’ income tax returns. Last 2 years’ certified financial statements or provisional financial statements duly certified by CA. Proof of office (any of the following - lease deed, utility bill or title deed). Any other income proof that is not reflected in the above documents. Last 2 years’ income tax returns. Last 2 years’ certified financial statements or provisional financial statements duly certified by CA. Proof of office (any of the following - lease deed, utility bill or title deed). Any other income proof that is not reflected in the above documents.
_x000D_
21. For Salaried Employee, All of the following: Last 2 year's income tax returns or last 2 year's Form 16 from the employer. Latest 3 salary slips or salary certificate on employer's letterhead. Any other income proof that is not reflected in the above documents.
_x000D_
22. Last 2 year's income tax returns or last 2 year's Form 16 from the employer.
_x000D_
23. Latest 3 salary slips or salary certificate on employer's letterhead.
_x000D_
24. Any other income proof that is not reflected in the above documents.
_x000D_
25. For Self-employed Co-applicant, all of the following: Last 2 years’ income tax returns. Last 2 years’ certified financial statements or provisional financial statements duly certified by CA. Proof of office (any of the following - lease deed, utility bill or title deed). Any other income proof that is not reflected in the above documents.
_x000D_
26. Last 2 years’ income tax returns.
_x000D_
27. Last 2 years’ certified financial statements or provisional financial statements duly certified by CA.
_x000D_
28. Proof of office (any of the following - lease deed, utility bill or title deed).
_x000D_
29. Any other income proof that is not reflected in the above documents.
_x000D_

If you’ve taken an HDFC Credila secured education loan against an immovable property like a flat or house or a non-agricultural land, then all these will be further required:

_x000D_
• Property title deed.
_x000D_
• Approved building plan.
_x000D_
• 7/12 extracts in case of land.
_x000D_
• Encumbrance certificates as on date.
_x000D_
• NOC for a mortgage from society/builder.
_x000D_
• Previous chain of sale deed establishing title.
_x000D_
• Registered sale agreement along with society share certificate.
_x000D_
• Original registration receipt for the above agreement.
_x000D_
• Allotment letter by the municipal corporation or authorized govt.
_x000D_
• Latest property tax bill along with receipts.
_x000D_
• Latest maintenance bill along with receipts issued by builder/ society.
_x000D_

*Source: HDFC Credila

_x000D_

What are the Benefits of Taking an Education Loan from HDFC Credila?

_x000D_

You don’t need a letter of admission to get a student loan from HDFC Credila. This is the biggest advantage of taking a student loan from the NBFC. You get the loan sanctioned even before you get an admission confirmation. Moreover, being the only dedicated platform for education loans in India, they are adept at offering customised loans that fit your profile. Some other benefits you gain with Credila are:

_x000D_
• They accept multi-city co-applicants.
_x000D_
• There is flexibility on collateral security.
_x000D_
• You get longer repayment options with flexible terms.
_x000D_
• There is no margin money, meaning you get the funds to bear all the expenses that come with studying abroad.
_x000D_
• The interest paid on the education gets tax benefits under Section 80(E) of the Income Tax Act of India.
_x000D_

_x000D_ _x000D_

_x000D_

How Can GyanDhan Help You Get an Education Loan from HDFC Credila?

_x000D_

Loan application is hands down one of the most complex and strenuous tasks, so much so that the hectic processing stage is enough to override the several advantages that the loan may have to offer.

This is why GyanDhan recommends its services to you. We understand the difficulties that students and parents go through while applying for an education loan. Hence, we provide assistance services which ease the processing stage for you, and ensure that you have to invest minimal effort and cost to get your loan sanctioned. A glimpse of the benefits you enjoy with a loan through GyanDhan:

_x000D_
• GyanDhan takes care of every roadblock starting from the day you begin searching for a loan (our loan eligibility tool is great for it) till the day you repay the full loan. Additionally, in case of any missing or faulty documents, we help students to get them fixed at the earliest and ensure that none of these minor glitches hinder your loan approval.
_x000D_
• We even track your HDFC Credila education loan status on a daily basis. If there is a hurdle, we expedite the process by contacting the concerned person and smoothening over any wrinkle quickly.
_x000D_
• Moreover, you can use our