CREDILA Education Loan

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CREDILA Education Loan

Why worry for financial assistance when CREDILA is here to provide student education loans for all Graduate, Post-Graduate, Engineering, Medical, MBA, Vocational Courses (Multi-Media, ERP) offered by recognized Institutions in India. All the documentation and running around will be done by our sales managers, who will also give complete guidance on what would be the best for you.

Apply For Education Loan

CREDILA Education Loan Features And Benefits:

  1. Quantum of the loan
  2. For studying in INDIA: maximum Rs.15 lakh
  3. For studying ABROAD: maximum Rs.20 lakh
  4. Collateral security for availing education loan
  5. For Loans Upto INR 7.5 Lakh – NO – Nil Collateral nor Third-Party Guarantee
  6. For Loans Above INR 7.5 Lakh – Yes, Any of the following collaterals : Residential Property, Credila Fixed Deposit, LIC/NSC/KVP
  7. No Collateral Or Third Party Guarantee
  8. Loan available up to tenure of 7 years including moratorium period
  9. Repayment to start 1 year after course completion / 6 months after obtaining employment (whichever is earlier)
  10. Loans available for short duration/ job oriented courses also
  11. Avail the tax rebate, offered under section 80-E of the Income Tax Act 1961* for the entire interest amount paid towards your education loan.

CREDILA Education Loan

CREDILA Education Loan Eligibility Criteria:

  1. You need to be an Indian Resident.
  2. You should be aged between 16 – 35 yrs.
  3. COLLATERAL is required for all loans greater than Rs. 7.5 Lakhs.
  4. All Loans require a co-applicant.

CREDILA Education Loan Documents Required :

CATEGORY

MAIN APPLICANT (STUDENT)

KYC (KNOW YOUR CUSTOMER )

AGE PROOF

SIGNATURE PROOF

IDENTITY PROOF

RESIDENCE PROOF

INCOME DOCUMENTS OF CO-APPLICANT

SALARIED

Last 2 Salary Slips carrying date of joining details

Last 6 Months Bank Statement of the Salary Account.

SELF-EMPLOYED

Latest 2 Year ITR with Computation of Income

Latest 2 Years Audited Balance Sheet

Latest 6 Months Bank Statement

Evidence of Turnover (Last Sales / Service Tax Return)

SELF-EMPLOYED PROFESSIONALS

Last 2 Year Income Tax Return with Computation of Income

Last 2 Yrs Audited Balance Sheet / P& L

Latest 6 Months Bank Statement

Proof of Qualification

CREDILA Education Loan Fees And Charges 

INTEREST RATES: 9.33%

DESCRIPTION OF CHARGES

EDUCATION LOANS

Loan Processing Charges

 Up to a maximum 2% of the loan amount

 Prepayment (up to 6 months of repayment)

No pre-payment permitted

Leading Education Loan Providers (Click to Apply)
HDFC Bank Education LoanBOI Education LoanICICI Bank Education LoanOther Banks


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