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HDFC Education Loan For Foreign Education

If you are looking for education loan for foreign education or study abroad, then HDFC Credila is one of top contender you can consider.

HDFC Credila is an HDFC Ltd. company. HDFC Credila, is India’s First Dedicated Education Loan Company. HDFC Credila Financial Services pioneered the concept of specialist Education Loan lender and became India’s First Dedicated Education Loan Company.

Loan Amount

It cover entire cost of education with no upper limit with collateral. If you are looking for unsecured loan they can offer up to Rs 45 Lakhs*

Foreign education loans can be used for over 2100 universities, 950 courses across 35+ countries :-

  • MS
  • MBA
  • MBBS/MD – Only India Colleges
  • Executive Management Courses (Working Executives)
  • All Other Courses – Cases to Case Basis

Interest Rate

  • Rate of interest will be floating rate of interest linked to HDFC Credila’s Benchmark Lending Rate (CBLR)
  • The interest will be calculated using Simple Interest Rate
  • Floating rate of interest to be (HDFC Credila’s CBLR + Spread)% per annum
  • A 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.

Costs Covered

All of the tuition fees as determined by the college/University

Up to 100% of other expenses including living and hostel expenses, travelling expenses, examination fees, library/laboratory fees; purchase of books / equipment’s/instruments/uniforms; passage money for studies into India; purchase of computers / laptops considered necessary for completion of the course as decided by HDFC Credila. Travel fare restricted to one economy class return ticket between India and the country of study.

Tenure

Get a loan repayment option up to 14 Years including the Moratorium Period.

Collateral options

  • Moveable – Fixed Deposit with HDFC Bank or HL with HDFC Ltd
  • Immoveable Collateral – Flat, House, Bungalow, Land (Non-Agricultural), Shop, etc.

Criteria

  • Borrower must be an Indian citizen
  • Co-applicants must be an Indian citizen
  • Ability to offer collateral for certain cases
  • 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
​​​​​​​
*Conditions apply. All Education Loans from HDFC Credila. Credit at sole discretion of HDFC Credila.

Fees and Charges

The HDFC Education Loan for Foreign Education Rates & Fees are as follows:

Description of ServicesCharges in Rupees  
Pre-payment charges  Nil  
No Objection Certificate (NOC)  Nil  
Delayed Payment Charges *  @ 2 % per month of instalment ( MI/PMII)+ applicable taxes thereon  
Statutory CERSAI charges  As per charges levied by CERSAI. 
Cheque or ACH mandate or Direct Debit swapping charges*  Up to Rs.500/- per swap instance plus applicable taxes thereon  
Cheque/ACH/Direct Debit Bouncing Charges*  Rs. 400/- per dishonor of cheque or ACH or Direct Debit return per presentation plus applicable any taxes thereon  
Legal / incidental charges  At actual  
Stamp Duty and other statutory charges  As per applicable laws of the state  
Manual Collection Charges*  Rs. 200/- per visit plus applicable any taxes thereon  
Charges for Updating & Handling Loan Account As Per Customer Request*  Rs. 1,500/- plus applicable any taxes thereon  
Origination Fees  

1.5% + Taxes of the Sanction Amount & is Non-Refundable

For more details you may visit their official website www.hdfccredila.com or call their toll free number 1800 209 3636

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