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HDFC Bank Study Loan Abroad

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Upto 7-10 days Loan Processing Time

Margin

Margin

NIL

Processing Fees

Processing Fees

1% + GST

Collateral

Collateral

Upto 100% of education cost

Non-Collateral

Non-Collateral

Upto ₹75 lakhs

Repayment Tenure

Repayment Tenure

Upto 15 years

Cosigner Needed

Cosigner Needed

Yes

Interest Rate

Starting from 10.50%*

Countries covered

USA, UK, Australia, Canada, and many more

Features of HDFC Credila
Education Loan Abroad

HDFC Credila is India’s first-ever dedicated education loan company. Over the years, HDFC Credila has set up systems and processes to create databases for the education sector.

HDFC Credila offers education loans at over 1000 universities in over 35 countries. Its best feature is the personalised education loan option depending on the student’s course and country preferences.

HDFC Credila also offers income tax advantages under Section 80E of the Income Tax Act. Students can borrow up to 100% of their educational expenses with HDFC Credila.

At Lorien, we’ve partnered with HDFC Credila to provide low-interest and easy education loans to students who wish to study abroad.

FeaturesEducation Loan Details
Loan amount

Upto 100% of education cost (Collateral)

Upto ₹75 lakhs (Non-Collateral)

Margin money

NIL

Interest rate

Starting from 10.50%*

Processing fee

1% + GST

Processing time

7-10 days

Loan tenure

Upto 15 years

Prepayment charges

NIL

Countries covered

HDFC Credila provides overseas education loans in numerous countries including USA, UK, Australia, Canada, Germany, Ireland, New Zealand, and many more.

Moratorium

Study period - 6 to 12 Months

Benefits of HDFC Credila Education Loan

  1. 100% Loans Provided

    Students can fund 100% of their education using HDFC Credila. The loans cover tuition fees, living expenses and the refundable deposit.

  2. Personalised Loans

    HDFC Credila is known for providing personalised loans best suited to the needs of the students. These adjustments help the students pay their EMIs flexibly.

  3. Emergency Approvals

    In emergencies, Credila allows one to get a loan sanctioned in just 1-2 days.

  4. 100% Free Assistance

    Lorien Finance helps you throughout the loan application process without charging any processing fee.

  5. Pre-Visa Loan Disbursement

    In some countries, loan disbursement must occur before the visa is issued. Lorien Finance helps you receive funds timely and assists in getting all the clearances ahead of time.

  6. Flexibility For Co-Borrower

    Compared to other education loans, the HDFC Credila Education Loan has fewer restrictions on who the co-borrower can be. For example, if your parent or a relative works abroad, they can be a co-borrower/guarantor. The co-borrower must have an NRI account, and, most significantly, the collateral must be in India. In both of these circumstances, you'll need an extra co-borrower.

  7. Income Tax Benefits

    HDFC Credila Education Loan makes you eligible to enjoy tax benefits under section 80-E of the Income Tax Act on the loan interest.

  8. Loan Before Acceptance Letter

    The HDFC Credila Education Loan has a unique feature of sanctioning loans even before the student receives their acceptance letter! Credila considers your GRE score to do so.

How To Apply For HDFC Credila

Education Loan For Abroad Studies?

  1. You can apply for an HDFC Credila Education Loan by connecting with our team of experts. Just fill out the form on our website, and we will schedule a callback and guide you through the process.

  2. From helping you upload documents online to presenting them to the banks, Lorien Finance will help you throughout the application process.

  3. Once all your documents are uploaded & KYC process is complete, you can expect your loan to get sanctioned within a few working days.

Why choose Lorien Finance to get an Education Loan From HDFC Credila?

  1. Best loans at unbeatable interest rates: Lorien Finance strives to bring you the best possible deals for your study abroad loans. Our experts negotiate on your behalf to get education loans at the lowest possible interest rates.

  2. Effortless Process: All you need to do is fill out the form on Lorien Finance’s website. Yes, it’s that simple! Our team will take it up from there, making it a hassle-free process for you.

  3. 100% Free Assistance: Lorien doesn’t charge any processing fee or commission for student loans for your study abroad journey!

  4. Quicker Loans: With constant application tracking and status updates, our experts ensure that your education loan for studying abroad gets sanctioned as early as possible.

  5. Higher chances of approval: In case of any missing documents or other issues, Lorien’s team promptly reaches out to the bank to find solutions to increase your chances of getting a study loan for your overseas education.

Helping you fulfil your study abroad dream!
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Eligibility Criteria For HDFC Credila Education Loan Abroad

  1. For the borrower

    1. Must be an Indian citizen
    2. Must be at least 18 years of age
    3. Must be enrolled in a recognised institution as a full-time student.
    4. Must have an earning co-borrower in India

  2. For the co-borrower

    1. Must be an Indian citizen
    2. Must have a bank account in India.
    3. Must have proof of earnings based in India.

  3. A co-applicant can be any of the following:

    1. Father / Mother / Brother / Sister (married) / Spouse / Father-in-law/ Mother-in-law/ Sister-in-law/ Brother-in-law/
    2. Maternal or Paternal Uncle or Aunt/ Grandparents & First Cousins.

  4. Loan Repayment for HDFC Credila

    1. Loan interest for HDFC Credila begins immediately after the loan’s first instalment gets disbursed.
    2. The duration of an education loan comprises the duration of the study + the grace period after school + the repayment period.
    3. The highest tenure offered by HDFC Credila is 15 years.
    4. The loan tenure is subject to considerations like the customer's repayment capacity, the course's future prospects, and the age of the co-applicant.
    5. The monthly repayment amount will be debited from the borrower's/co-bank borrower's account through ECS.

    5. Documents Required

  5. For Applicants

    1. PAN Card
    2. Voter ID Card
    3. Passport
    4. Driving License
    5. Aadhaar Card
    6. Mark sheet/Certificate of 12th Exam
    7. Mark sheet/Certificate of Subsequent Years of Education
    8. Entrance Exam Score (CAT, CET, GRE, GMAT, IELTS, TOEFL)
    9. Scholarship Documents (if applicable)
    10. Bank account statements

  6. For Salaried Employees

    1. The 3 most recent salary slips
    2. Employer Form 16 from the last two years/ Income Tax Returns from the last 2 years
    3. Any Other Income Proof Not Included in the Above Documents

  7. Self-Employed

    1. Income Tax Returns for the Previous Two Years.
    2. Certified Financial Statements or Provisional Financial Statements for the Previous Two Years
    3. Any Other Income Proof Not Included in the Above Documents.

Expenses Covered in HDFC Credila Education Loan

  1. Tuition fees
  2. Hostel and mess fees
  3. Examination, library, and laboratory fees
  4. Insurance premium
  5. Caution deposits, building funds, and refundable deposits
  6. Reading material and uniform
  7. Travel expenses
  8. Laptop
  9. Admission acceptance fees
  10. Other expenses

FAQs

Bringing answers to your questions

  • How much loan does HDFC Credila give without collateral?

    HDFC Credila offers unsecured education loans up to Rs. 75 lakhs for meritorious students heading to select colleges in India and abroad. This means that eligible students can secure financing without the need for collateral.

  • What is the interest rate of an HDFC Credila education loan?

    Interest rates for HDFC Credila education loans can vary based on the applicant's profile, co-borrower details, and the course pursued. Obtain the most accurate and up-to-date information on interest rates by connecting with the experts at Lorien Finance.

  • How many days does HDFC Credila take to approve?

    HDFC Credila is known for quick loan approvals, and in emergencies, loans can be sanctioned within 1-2 days. The approval time may vary based on individual cases and the completeness of documentation.

  • Can I repay the HDFC Credila education loan early?

    HDFC Credila does have an early repayment option for education loans. Repaying the loan before the scheduled tenure can help students save on interest payments.

  • How much loan does HDFC Credila provide?

    HDFC Credila extends comprehensive education loans that cover up to 100% of your educational expenses, encompassing tuition fees, living expenses and refundable deposits. With Lorien Finance by your side, our dedicated team ensures you secure the optimal loan amount at the most favourable interest rates, customised to meet your needs and aspirations.

  • Is collateral required for HDFC Credila?

    HDFC Credila does not require collateral for education loans up to Rs. 75 lakhs. Meritorious students can avail unsecured loans, making it a more accessible financing option for pursuing higher education in select colleges in India and abroad.

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