Product Details
बैंक का नाम
HDFC Bank
Maximum Loan Tenure
12 Years
अधिकतम ऋण राशि
No upper cap
ब्याज दर
13.30% per annum + Spread. Spread is determined on the risk profile of the case which vary on account of a number of factors such as student's academic background, employability of the selected course from a selected college and country of study, financial strength of the co‐borrower, loan repayment capability, credit history, collateral offered or not, serviceability of the loan through HDFC Credila's branch network, cost/s associated with underwriting and servicing the loan, etc.
शिक्षा ऋण का उद्देश्य/क्षेत्र
Typically for professional courses, however non-professional courses can also be considered by HDFC Credilia.
HDFC Credilia USA Education Loan
पुनर्भुगतान चक्र
Tenure of an education loan consists of Duration of Study + Grace Period after the Study + Repayment Period
मुहलत
Upto 12 months
न्यूनतम CIBIL स्कोर
Not mentioned however, apart from CIBIL score, HDFC Credilia also looks at Students past academic track record
2. Quality of institute/college and course the student wish to pursue
3. Student's ability to get an appropriate job after the course that he/she is seeking education loan for
4. Also, the potential salary is also estimated to calculate eligibility of loan amount
5. Also, credit histories of the applicant and co-applicants play an important role in approval
6. Lastly, the value and type of property being offered as collateral security for higher value loans also play an important role in decision
Co-Borrower Required
Yes, for loan above INR 20 Lakhs
आवश्यक संपार्श्विक
Yes, for higher amount education loans
फीस एवं प्रभार
Pre-payment Charges: Nil
Penal Interest in case of delayed payment: 2% + interest rate.
Bounce Charges: INR 400
Processing Fee: Upto 1.5% of the loan amount.
Legal and stamp duty charges: Differs from state to state.
Fees and Charges
विशेष लक्षण
HDFC Credilia issues letter of approval even before you secure admission, many colleges require student to secure this letter before granting them admission.
पात्रता मापदंड
Borrower must be an Indian citizen
Co‐applicants(s) must be an Indian citizen
Co‐borrower(s) must have a bank account in any bank in India with cheque writing facilities
Confirmed admission in the colleges before disbursement
Borrower and Co‐applicant(s) to meet HDFC Credila’s credit and underwriting norms as applicable from time to time
विशेष रियायत
No
विशेषताएं, पात्रता और रियायत
पेशेवरों
HDFC Credilia has one of the highest loan sanction amount.
Loan approval letter is issed prior to securing admission.
HDFC Credilia charges simple interest unlike other banks and financial institituions which charge compound interest.
Loan is available upto 100% of tution, boarding, travelling and living expenses are covered.
HDFC Credilia issues letter of approval even before you secure admission, many colleges require student to secure this letter before granting them admission.
Cons
As the loan has a floating interest rate, borrowers may be exposed to interest rate fluctuations, which could affect monthly repayments in the future.
पक्ष विपक्ष
HDFC Credilia USA Education Loan
HDFC Credila USA Education Loan can be a consideration, especially if you can qualify for an unsecured loan and get a competitive interest rate. However, the limited unsecured loan amount, potentially higher interest rates for secured loans, mixed reviews, and lack of advertised interest rates require careful exploration.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
उत्पाद समीक्षा
पक्ष विपक्ष
आवेदन कैसे करें?
You can apply through HDFC Credilia's website.
आवश्यक दस्तावेज़
Mandatory Documents:
Fully Completed Application Form: Download and fill out the application form from the HDFC Credila website [HDFC Credila education loan abroad ON hdfccredila.com].
Two Passport-Sized Photographs: One each for you (applicant) and your co-applicant.
Photo ID: Submit a government-issued ID card like Passport, Aadhaar Card, Voter ID Card, or PAN Card (for both applicant and co-applicant).
Residence Proof: Provide documents like utility bills (electricity, water, gas) or a rental agreement (for both applicant and co-applicant).
Applicant Documents:
Academic Documents: Submit your mark sheets and certificates from 10th standard onwards. If applicable, include GRE/GMAT/TOEFL scores.
Proof of Admission (if available): An official letter from the university you'll be attending in the USA.
Co-Applicant Documents:
Income Proof: The co-applicant will need to submit documents like Income Tax Returns (ITR) for the last 2 years or certified financial statements (if self-employed) for the last 2 years.
Bank Statements: Last 8 months' bank statements for the co-applicant.
Additional Documents (if applicable):
Collateral Documents: If you're offering collateral to secure the loan, you'll need relevant documents related to the immovable property (flat, house, non-agricultural land).