When it comes to funding higher education, HDFC Credila education loan stands out as one of the most trusted and specialized education loan providers in India. With a focus on making higher education accessible, HDFC Credila provides tailored financial solutions to students who dream of studying in top universities in India and abroad. In this article, we will guide you through everything you need to know about HDFC Credila, including its features, interest rates, eligibility, benefits, and comparisons with other lenders.
What is HDFC Credila?
HDFC Credila is a subsidiary of HDFC Ltd., specifically created to provide education loans. It is India’s first dedicated education loan company, and it offers customized student loans to both domestic and international applicants. The loans can cover tuition fees, living expenses, travel costs, and other education-related charges.
Credila an HDFC ltd company has built a reputation for its flexible repayment plans and fast processing. Since its inception, the company has financed thousands of students, helping them realize their academic aspirations.
Key Features of HDFC Credila
Here are the top features that make HDFC Credila education loan a popular choice among students:
- Customized Education Loans: Loan amounts are tailored based on course fees and other individual requirements.
- No Margin Money: HDFC Credila loan often covers 100% of the expenses, including tuition and living costs.
- Pre-Admission Sanction: Loans can be approved even before the student secures admission.
- Tax Benefits: Interest payments are eligible for tax deductions under Section 80E of the Income Tax Act.
- Repayment Flexibility: EMI options are structured to start post-course completion.
- Quick Approvals: Application and approval processes are streamlined for speed.
HDFC Credila Unsecured Education Loan Eligibility
To be eligible for a loan from Credila, the following criteria must typically be met:
| Criteria | Description |
|---|---|
| Nationality | Indian Citizen |
| Age | 18 years or older |
| Admission | Confirmed admission to a recognized university (India or abroad) |
| Co-applicant | Required (usually a parent or guardian) |
| Income Source | Co-applicant must have a regular income source |
Documents Required
Applicants must submit a number of documents to get their loan approved by Credila:
- Student’s admission letter from the university
- KYC documents of applicant and co-applicant
- Academic records (10th, 12th, graduation)
- Income proof of co-applicant (salary slips, IT returns)
- Bank statements
- Collateral documents (if applicable)
Step-by-Step HDFC Credila Education Loan Application Process
1. Initial Inquiry
Start by filling out a simple application online or contacting a Credila representative. You’ll receive guidance on required documents and eligibility.
2. Document Submission
Upload or submit all required documents for verification. This is a critical step — any missing or incorrect paperwork can delay approval.
3. Credit Evaluation
Credila reviews your application, assessing the academic profile, co-applicant’s creditworthiness, and course potential. This includes a risk and repayment capacity evaluation.
4. Sanction Letter
If approved, you’ll receive a loan sanction letter detailing the sanctioned amount, interest rate, repayment period, and any applicable conditions.
5. Loan Agreement
Next, you and the co-applicant sign a formal agreement. This includes terms of repayment, interest, and disbursement structure.
6. Disbursement
The loan amount is either paid directly to the university or to your account based on the institution’s requirements and fee structure.
HDFC Credila Education Loan Interest Rates 2025
The interest rate is a key factor for any loan. Here’s a comparison of HDFC Credila interest rates with other major education loan providers as of 2025:
| Lender | Interest Rate (per annum) | Processing Fee |
|---|---|---|
| Credila | 11.50% – 13.75% | 1% of loan amount |
| SBI Education Loan | 8.75% – 10.50% | Up to ₹10,000 |
| Axis Bank | 11.25% – 13.00% | ₹15,000 or 1% |
| ICICI Bank | 11.50% – 13.00% | 1% or ₹10,000 |
| Bank of Baroda | 9.15% – 10.90% | Nil to ₹7,500 |
Note: Interest rates are indicative and subject to change.
HDFC Credila Education Loan EMI Calculator
Loan Amounts and Collateral Requirements
HDFC’s Credila provides flexible loan amounts depending on the university, course, and student’s profile.
| Loan Amount | Collateral Required |
|---|---|
| Up to ₹7.5 lakhs | Not required |
| Above ₹7.5 lakhs | Required |
The collateral can be in the form of residential property, fixed deposits, or insurance policies.
Countries and Courses Covered
HDFC Credila provides education loans for a wide range of international and domestic universities.
Top Countries Covered:
- USA
- Canada
- UK
- Germany
- Australia
- Singapore
Popular Courses Financed:
- Engineering
- Medicine
- Management (MBA)
- MS/PhD
- Arts and Humanities
HDFC Credila Loan Repayment and Tenure
Repayment terms with Credila are flexible and designed to ease the burden on students.
| Parameter | Detail |
|---|---|
| Loan Tenure | Up to 15 years |
| Moratorium Period | Course duration + 6 months |
| EMI Start Date | After moratorium |
| Part-Payment | Allowed without penalty |
| Pre-closure Charges | Nil (in most cases) |
Benefits of Choosing HDFC Credila
Here are some of the major advantages of choosing HDFC Credila for your education loan:
- No Hidden Charges: All fees are transparently communicated at the start.
- Doorstep Services: Loan application, document pickup, and counseling provided at your convenience.
- Dedicated Relationship Manager: Personalized assistance throughout the process.
- Wide Network of Institutions: Ties with over 3,000+ recognized institutions.
HDFC Credila vs SBI Loan Comparison
When students plan to study in India or abroad, choosing the right education loan is very important. HDFC Credila is a popular non-banking financial company (NBFC) that offers flexible and quick education loans. At the same time, the State Bank of India (SBI) is one of India’s largest public sector banks, known for its affordable rates and government-backed loan schemes. In this article, we’ll look at the key features of both lenders and present a clear HDFC Credila vs SBI loan comparison.
Below is a simple comparison table to help you understand the major differences:
| Feature | HDFC Credila | SBI Education Loan |
|---|---|---|
| Loan Amount | Up to ₹75 lakhs or more (based on profile) | Up to ₹50 lakhs (without collateral for top courses) |
| Interest Rate | 9.75% to 13.5% (varies by applicant profile) | Starts from 8.15% (subject to subsidy and scheme) |
| Processing Time | 3–5 days (faster with online documents) | 7–15 days |
| Collateral Requirement | Optional (depends on amount and profile) | Required above ₹7.5 lakhs (in most cases) |
| Pre-Visa Disbursal | Available | Not usually offered |
| Loan Tenure | Up to 15 years | Up to 15 years |
| Moratorium Period | Course duration + up to 12 months | Course duration + 12 months |
| Repayment Flexibility | Customized EMI options | Standard EMI options |
| Digital Process | Fully digital and app-based journey | Semi-digital with in-branch visits |
HDFC Credila is a good choice for students who want faster service, less paperwork, and flexible repayment plans. On the other hand, SBI is ideal for those who want a lower interest rate and are willing to go through a longer process.
This HDFC Credila vs SBI Education loan comparison helps students and parents make a smart decision based on their financial goals and study plans.
HDFC Credila vs Axis Bank, ICICI Bank, and Bank of Baroda Education Loans
Choosing the right education loan is important for students planning higher studies in India or abroad. HDFC Credila is known for its quick disbursal and flexible loan structure. Other major lenders like Axis Bank, ICICI Bank, and Bank of Baroda also offer strong options. Below is a clear comparison to help students and parents decide which bank suits their needs best.
| Feature | HDFC Credila | Axis Bank | ICICI Bank | Bank of Baroda |
|---|---|---|---|---|
| Loan Amount | Up to ₹75 lakhs or more | Up to ₹75 lakhs | Up to ₹1 crore for international studies | Up to ₹80 lakhs for premier institutions |
| Interest Rate | 9.75% to 13.5% | 13% to 15% | 10.5% to 12.5% | Starts from 8.55% |
| Collateral Requirement | May or may not require | Needed above ₹40 lakhs | Required above ₹7.5 lakhs | Required above ₹7.5 lakhs |
| Processing Time | 3–5 working days | 5–10 working days | 7–10 working days | 7–10 working days |
| Pre-Visa Disbursal | Available | Available | Available | Available |
| Moratorium Period | Course duration + 1 year | Course duration + 1 year | Course duration + 1 year | Course duration + 1 year |
| Repayment Tenure | Up to 15 years | Up to 15 years | Up to 10–15 years | Up to 15 years |
| Application Process | Fully online | Online + branch | Mostly online | Online + branch |
| Special Benefits | Customized EMI plans | Fast sanction for partner colleges | Top-up loans, tax benefits | Interest subsidy, lower rates for girls |
HDFC Credila is ideal for students looking for fast loan approval, less paperwork, and flexibility. Axis and ICICI Banks offer large loan amounts with digital features, while Bank of Baroda stands out with lower interest rates and government-backed benefits.
This table helps students compare key aspects before applying for an education loan.
HDFC Credila: New Updates and Rejection Reasons
HDFC Credila is a top lender for education loans in India. It helps students pay for their studies in India and abroad. Recently, after the merger of HDFC Ltd with HDFC Bank, HDFC Credila got new ownership. This change has made its services faster and more student-friendly.
One big benefit of HDFC Credila is that it gives loans without collateral. That means students don’t always need to offer property or fixed deposits as security. If the student has good academic records and the co-applicant has a steady income, HDFC Credila may approve the loan without asking for any assets. This is very helpful for students going to top colleges overseas.
But sometimes, loan applications get rejected. Common reasons for rejection include:
- Missing or wrong documents
- Low credit score of co-applicant
- Applying for non-approved courses or colleges
- Delayed application close to deadlines
To avoid these issues, students should apply early, keep documents ready, and choose good colleges.
HDFC Credila is growing fast with flexible plans, fast approvals, and loans without collateral. By understanding the process and avoiding common mistakes, students can get loans easily and focus on their education.
Common Student FAQs
A. Credila is India’s first NBFC dedicated exclusively to education loans, offering tailored financing solutions for students across India and abroad. They support everything from application to disbursement and flexible repayments.
A. Unlike traditional lenders, Credila focuses entirely on educational financing. They offer 100% funding of tuition and related expenses, moratoriums tied to course duration, and extended repayment tenures — all designed with students and parents in mind.
A. Credila has a nationwide footprint with multiple branches. Even if you live in a smaller town, they have digital systems and regional teams to guide you seamlessly .
A. Anyone pursuing higher education in India or abroad — whether undergraduate or postgraduate — can benefit. A loan helps manage finances smartly, allows better cash flow, and builds credit history.
A. Apply once you receive an admission offer. Credila initiates the process early so approvals, document checks, and disbursements are completed in time for tuition deadlines.
A. Expect to provide:
Admission letter
KYC (ID, address proof) for you and co‑applicant
Academic transcripts
Income proofs for your co-borrower
Passport-size photos & possibly collateral documents, depending on the loan type.
A. Credila offers up to ₹1.5 crore for secured loans and ₹75 lakh for unsecured loans — ample to cover full tuition, living costs, and more.
A. Interest rates typically range between 10.5%–13%, determined by Credila’s internal benchmark (CBLR) plus a variable spread.
After course completion, you get a 12‑month moratorium and can repay the loan over up to 15 years.
A. Yes — paying interest during your course reduces the total interest cost. Credila recommends making these payments whenever possible to lower long-term liability.
A. Credila supports both part-payments and early closures, helping you save on interest. Fees and terms may apply depending on your loan agreement.
A. A co-borrower (or guarantor) can be your parent, guardian, or any eligible adult. They don’t have to live nearby — though NRI co-applicants may need to provide additional KYC.
A. Collateral is required for higher loan amounts (typically beyond ₹7–10 lakh), depending on your study destination and institute. Credila accepts property, fixed deposits, etc.
A. You can claim a deduction on interest paid under Section 80‑E of the Income Tax Act — regardless of whether your course is in India or abroad.
A. Credila’s portal lets you track your application status (e.g., Pending, Sanctioned, Disbursed). Disbursals typically happen within 4–15 working days after you sign documents and pay the processing fee.
A. Reach Credila through:
HDFC Credila Customer Care Toll-free: 1800‑209‑3636
Email: [email protected]
Website chat or national branches
They also provide dedicated support staff for timely and reliable assistance.
A. An ACH (Automated Clearing House) or NACH mandate allows bank-to-bank automatic debit of EMI or interest payments. You can set this up online or via your bank. The mandate stays active until you close or update your loan account.
Tips to Improve Loan Approval Chances
To increase your chances of getting approved for a Credila loan:
- Maintain a strong academic record
- Choose reputed institutions
- Ensure your co-applicant has a good credit score
- Keep all documentation ready and verified
- Provide clear collateral details (if needed)
Final Thoughts
HDFC Credila has become one of the top choices for students seeking financial support for their higher education journey. Its customizable loan plans, flexible repayment options, and global reach make it a convenient partner for educational aspirations. If you’re planning to study in India or abroad and need financial assistance, exploring it as an option is definitely worth considering.