Make college memories that last a lot longer than your student loan payments.

Credila Education Loan

Students looking to pursue their education in the country or abroad can avail an education loan from HDFC Credila, a subsidy company of HDFC Limited. Hailed as the country’s first dedicated education loan lender HDFC Credila provides income tax benefits under Section 80E of the Income Tax Act. You can avail loan up to 100 percent of educational expenses. The repayment can be made in easy EMIs up to 12 years.

Credila Education Loan Interest rates

The rate of interest is floating rate of interest linked to HDFC Credila's Benchmark Lending Rate (CBLR). The current CBLR is 11.80% p.a.. The interest will be calculated using simple interest rate.

HFDC Credila Educational Loan Amount

The minimum amount which can be availed as loan is Rs.1 lakh. As for the maximum loan amount, there isn’t any cap. HDFC Credila processes loan exceeding Rs.25 lakh as well subject meeting the credit and underwriting norms

Credila Educational Loan Eligibility Criteria

  • The applicant/co-applicant(s) must be an India citizen
  • Co-applicant must have a bank account with cheque writing facilities
  • Admission must be confirmed in the colleges before disbursement of the amount
  • Must meet HDFC Credila’s credit and underwriting norms

Find Education Loan Eligibility Criteria here.

Documents Required

The documents which needs to be submitted while for an education loan from HDFC Credila are listed below:

  • Duly filled and signed application form
  • Two passport sized photographs of applicant and co-applicant
  • Identity proof
  • Residence proof
  • Academic documents
  • Proof of admission (if available)
  • Bank statements for the last 8 months of the co-applicant
  • Income proof of co-applicant
  • Collateral – Immovable property

Benefits of Credila’s Education loan

For Students

  • You can fund your education yourself
  • You can avail the loan approval loan before admission
  • You can apply for the loan online within a few minutes
  • Your living expenses and all other expenses are also funded by HDFC Credila

For Parents

  • Loan up to 100 percent of educational expenses
  • Longer and flexible repayment options are available
  • You need not visit bank branches multiple times#
  • Education Loan Income tax benefits can be availed under Section 80E of the Income Tax Act

Application process

The application process involved while applying for an education loan from HDFC Credila involves the following steps:

  • First fill up the online application form
  • Officials will follow-up with the you and parents
  • The representative will visit the house and collect signed application form along with required documents
  • The credit team will review and underwrite the education loan application
  • If satisfied, the education loan will be approved
  • Once done, you need to complete the loan disbursement formalities by signing the education loan agreement
  • The loan amount will be credited in the bank account

Disbursement process

The disbursement process of the education loan involves:

  • Pay the origination fees
  • Decide the date when the amount is to be credited in the bank account
  • Decide the amount to be disbursed as first tranche
  • Provide exact details where the disbursement is to be made
  • Get ECS mandate from HDFC Credila
  • Sign the loan agreement document
  • On doing so, the amount will be disbursed


  1. Which type of collateral are accepted?
  2. Residential flat/house, non-agricultural land, fixed deposit assigned in favour of HDFC Credila are accepted as collateral.

  3. Does the loan repayment tenure include grace period after study?
  4. Yes, grace period after study is included in the repayment tenure.

  5. Will the loan amount be disbursed in Indian rupees even when the applicant is studying abroad?
  6. Yes, the loan amount will be disbursed in Indian rupees.

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