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Credila offers a repayment holiday in which principal payments are due six months after the course is finished, with a moratorium option available for up to two years.
Credila - Education Loan
3 days Avg Loan Processing Time
Apply NowOur education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.
Margin
NIL
Collateral
Collateral free loans available
Loan Tenure
Up to 15 Years
Processing fee
0.85% to 1.0%
Early Repayment
Yes (without any charges)
Living Cost
Yes
Secured Loan
No limit
Un-Secured Loan
Up To 75Lac
Features of Credila Education Loan For Abroad Studies
While the overview highlighted the overall value proposition, let's delve into the specifics of Credila's study abroad loan program. In this section you'll discover its interest rate, processing fee and more.
| Features | Education Loan Details |
|---|---|
| Loan amount | Secured Loan — No limit on loan amount; Unsecured Loan — Upto ₹75 Lakh |
| Margin money | Nil |
| Processing fee | 0.85% to 1.0% (maximum up to 1.25%* + GST of the loan amount) |
| Processing time | 3 Days (maximum 15 days) |
| Loan tenure | 15 Years |
| Prepayment charges | Nil |
| Repayment holiday | 6 months after course completion; moratorium option available for up to 2 years |
| Countries covered | 59+ countries including the USA, Canada, UK, Germany, Australia, Singapore, France, etc. |
| Payment study period | Yes — Partial Interest, Simple Interest, Direct EMI. Partial interest repayment available for select good profiles. |
Eligibility Criteria to Apply for Credila Education Loan
It is important to understand the eligibility criteria for Credila education loans so you can evaluate your qualification for financial aid before you apply.
| Type | Requirement |
|---|---|
| Citizenship | Be an Indian citizen with a co-applicant who is also an Indian citizen. |
| Academic Background | Should have graduated from a recognised university as per Credila's criteria. |
| Financial standing | You will require a co-applicant with a stable income and good credit history to prove your capability of repaying the loan. This co-applicant can be anyone from your close or extended family. |
Benefits of Credila Study Abroad Loan
Comprehensive Expense Coverage
Beyond tuition fees, the loan covers a wide range of expenses including living costs, travel tickets, books, equipment and even examination fees.
Competitive Rate of Interest
Credila offers one of the most competitive rates of interest starting from 10.25%*, leading to lower monthly payments and a lighter financial burden on course completion.
Expedited Approval in Emergencies
An express approval service can get your loan approved in 7* working days — ideal when you have a tight deadline for a visa or fee payment.
Assistance During Disbursements
We support you at every stage until the complete loan amount is released and ensure all disbursements are made on schedule.
Pre-Visa Loan Disbursement
In countries where disbursement must occur before a visa is issued, we obtain essential clearances ahead of time so your funds arrive on time.
Flexible Repayment Options
Credila offers one of the most flexible repayment structures for education loans, of up to 15 years*.
Unique Tax Benefits
Avail tax deductions under Section 80E of the Income Tax Act on interest paid towards your loan, helping you save real money.
Pre-admission Sanction
The loan can be sanctioned even before you receive your acceptance letter, letting you focus on your applications and interviews.
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