Process
- Connect
Arrange a call with an executive by filling the required details. - Get Started
Prepare the list of documents provided by the executive. - Complete
The loan can be availed within 3-5 working days.
When should I go for a loan?
Before Admission to;
- Smoothen your visa process
- Eligibility check and better planning
- Higher acceptance of sanction letter over solvency one
Documents required for education loans are?
- Finalized application form
- Photograph and Photo ID
- Residence and Admission proof
- Academic documents
- Rooted property documents
- Bank statement along with Income proof of co-applicant
Is there a fixed Interest rate?
No, it varies according to the profile, requirement, and financial backing which will be
discussed at the time of the approval process.
How will the application process?
In two phases;
- In-principle sanction:
From the date of the finalized application receipt as well as the complementary documents from the customer, this letter will be handed within 7 to 10 days. - Disbursement of Funds:
Just like the former letter, the disbursement will be completed in 7 days starting from the date of receipt of all underlying sanction and post-sanction documents by the customer.
What is the amount of loan that can be availed from HDFC CREDILA?
Apart from 100% of the education cost, a loan of over 20 Lakhs can be granted.
What factors affect the approval of an education loan?
Determinants such as;
- Academic background
- Course and University applied for
- Presence and type of security/collateral
- The work profile of the guarantor/co-borrower