Credila vs. Auxilo: Which is Better for Education Loans?

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Overview of Credila vs. Auxilo Education Loans
Credila Education Loan Vs Auxilo Education Loan
Credila vs. Auxilo: Interest Rates
Country-Specific Differences Between Credila and Auxilo Education Loan
Credila vs. Auxilo: Repayment Tenure
Credila or Auxilo: Which is Better?
Frequently Asked Questions

On this Page:

Read GyanDhan’s comparative guide on Credila vs Auxilo abroad education loan to choose the right option for you. Compare the interest rates, loan amount, repayment terms & more.

Education loan Credila HDFC auxilo

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Arshi is a content expert with expertise in the study abroad sectors. Holding a Master’s degree in Economics, she brings an analytical approach to her content creation, ensuring clarity and...

Updated on: 24 Apr 2025 | Reviewed By: Aman

Aman Jain graduated from IIT Kanpur, and currently functions as the CMO at GyanDhan. He is deeply passionate about creating equality in higher education and has directly interacted with 2 Lakh...

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Education loans play a crucial role in assisting students who lack sufficient funds to pursue their studies abroad. In India, besides public and private banks, non-banking financial companies (NBFCs) have emerged as prominent lenders for education loans for international studies. The current economic conditions indicate a growth of 15%-17% for NBFCs in the financial year 2025-26, according to CRISIL (Credit Rating Information Services of India Limited).

Two notable NBFCs that contribute to this growth are Credila and Auxilo. They offer tailored education loan products with flexible terms and conditions to cater to the specific needs of aspiring students. This blog aims to shed light on the details of education loan products provided by Credila and Auxilo, helping students make informed decisions and choose the right option according to their unique requirements.

Overview of Credila vs. Auxilo Education Loans

Education loans by Credila and Auxilo share many features common to NBFCs. They cover 100% of your study-abroad expenses, offer unsecured loans of high amounts, and are flexible with the documentation process.

The table below compares the features of education loans by Credila and Auxilo for various countries abroad:

Features	Credila	Auxilo
Maximum loan amount	Up to INR 1.5 Crores (Secured loan) Up to INR 75 Lakhs (Unsecured loan)	Up to INR 75 Lakhs
Interest rate*	10.50% - 13%	11.25 - 14%
Moratorium period	Course period + 1 year	Course period + 1 year
Repayment during the moratorium period	Simple Interest (SI) or Partial Simple Interest (PSI)	Simple Interest (SI) or Partial Simple Interest (PSI)
Processing fee	0.75%-1.25% of the loan amount + GST	0.5% - 1.5% of the loan amount + GST
Loan tenure	12 - 15 years	12 - 15 years
Margin money	Nil	Nil
Minimum co-applicant income	INR 20,000 - 50,000	INR 20,000 - 40,000
Credit life insurance premium	0.75%-1.25% of the loan amount	0.5 - 1.5% of the loan amount
Tax Benefit Under Section 80E	Yes	No
Loan Approval Based on GRE / GMAT?	Yes	Yes
Give Pre Admission Loans	Yes	Yes

*Interest rate as of April 2025

However, having many features in common does not mean that Credila and Auxilo are equally relevant to your case.

Credila Education Loan:

Credila has been a dedicated NBFC for education loans since 2006 and now offers education loans to study at 5,000+ institutions across 64 countries. The following are some reasons why Credila can be your lender:

Education loans are also provided against properties mortgaged with HDFC Bank.
There is an option of a semi-collateral education loan where you pledge collateral to get half the loan amount and the other half you get based on your co-applicant's income.
Credila offers education loans without a co-applicant for applicants with 310+ GRE scores and work experience to study in select countries such as the US
Credila gives tax benefits under section80E that no other NBFC usually gives.

Auxilo Education Loan:

A comparatively recent NBFC that was founded in 2017, Auxilo gives education loans to study at 1,100+ universities across 25+ countries. Auxilo education loans are notable for the following features:

The interest rates can be lowered if the student has secured high GRE scores and the co-applicant has a high income
The maximum loan amount can be increased if the student has work experience and the co-applicant has a high income
Auxilo is concentrated only in select cities in India

Credila Education Loan Vs Auxilo Education Loan

Feature	Credila Education Loan	Auxilo Education Loan
Year of Establishment	2006	2017
Countries Covered	Over 64 Countries	25+ Countries
Co-applicant Requirement	Not required for applicants with 310+ GRE scores and work experience for select countries (e.g., the US)	Co-applicant is required.
Number of Institutions	5,000+ Institutions	1,100+ Institutions
Loan Amount Flexibility	Semi-collateral option allows partial funding based on co-applicant's income.	Maximum loan amount can be increased for students with work experience and high-income co-applicants
City Coverage	Available across India	Focused on specific cities in India

Credila vs. Auxilo: Interest Rates

The interest rates are crucial in determining the total cost of borrowing. There are two types of interest rates in education loans - fixed interest and floating interest. Typically, Credila and Auxilo charge floating interest rates for education loans.

The interest rate for Credila education loans varies between 10.50% - 13%, and the Auxilo education loan interest rates vary between 11.25 - 14%.

See the table below for the education loan interest rates for different countries:

Country	Credila	Auxilo
Australia	11% - 12.5%	12.5 % - 14%
Canada	10.75% - 12.5%	12% - 13%
Germany	10.5% - 12.5%	12.5 - 13.5%
Ireland	10.50% - 12.5%	12.5 - 13.5%
New Zealand	10.5% - 12%	11.25% - 12%
UK	10.50% - 12%	12.5 - 13.5%
US	10.50% -12.5%	10.50% -12.75%

*Interest rate as of April 2025

Credila Interest Rates:

Credila offers education loans at competitive rates, which is crucial in calculating the total cost of borrowing. These loans are generally offered with floating interest rates, which means the rate can change during the loan tenure based on market conditions. The interest rates may vary depending on the profile of the student, the co-applicant’s credit score, and the course of study.

Auxilo Interest Rates:

Auxilo is known for its flexible loan terms and provides loans at a floating interest rate that ranges from 11.25% to 14% per annum. The loan can be repaid over 5 to 15 years, depending on the loan amount and course duration. Auxilo also provides customized loan schemes based on various factors, ranging from the student’s profile, the course of study, and the co-applicant’s credit score.

Country-Specific Differences Between Credila and Auxilo Education Loan

Your country of study abroad is crucial in determining the maximum possible loan amount.

The following table presents the maximum loan amount and minimum co-applicant income for unsecured education loans by Credila and Auxilo for select countries.

Country	Credila	Auxilo
Australia	Up to INR 20 - 30 Lakhs Co-applicant income: INR 35,000 - 50,000	Up to INR 15 - 20 Lakhs Co-applicant income: INR 35,000 - 40,000
Canada	Up to INR 20 - 40 Lakhs Co-applicant income: INR 30,000 - 50,000	Up to INR 25 - 30 Lakhs Co-applicant income: INR 30,000 - 40,000
Germany	Up to INR 20 - 30 Lakhs Co-applicant income: INR 35,000 - 50,000	Up to INR 20 Lakhs Co-applicant income: INR 35,000 - 40,000
Ireland	Up to INR 20 - 30 Lakhs Co-applicant income: INR 35,000 - 50,000	Up to INR 20 Lakhs Co-applicant income: INR 35,000 - 40,000
New Zealand	Up to INR 20 - 30 Lakhs Co-applicant income: INR 35,000 - 50,000	Up to INR 15 - 20 Lakhs Co-applicant income: INR 35,000 - 40,000
United Kingdom	Up to INR 20 - 30 Lakhs Co-applicant income: INR 35,000 - 50,000	Up to INR 40 Lakhs Co-applicant income: INR 40,000
United States	Up to INR 40 - 75 Lakhs Co-applicant income: INR 20,000 - 35,000	Up to INR 30 - 65 Lakhs Co-applicant income: INR 20,000 - 35,000

Note: Auxilo offers education loans to select universities in the UK and Ireland, provided the student has work experience and good GRE scores.

Credila vs. Auxilo: Repayment Tenure

Credila and Auxilo offer the same repayment tenure for education loans. The repayment can be made in partial simple interest (PSI) or simple interest (SI), depending on the country and course of study.

Generally, STEM courses are given the option of PSI, and SI is applicable for non-STEM courses, but it depends on your profile’s strength and various other factors. The interest repayment has to be started immediately after the loan is disbursed.

Credila Repayment Tenure:

Credila offers flexible repayment terms that can range from 12 to 15 years, depending on the loan amount and the course. The repayment of the loan generally starts after a moratorium period (which is the duration of the course + 12 months after course completion).