Training Example: Credila Financial Services Limited (Formerly HDFC Credila) – Review the Data, Give Your Score & Compare to the Real AI Evaluation

[H1] Education Loans
For India and Abroad
[IMG: Repayment tenure up to 15 years]
Repayment tenure up to 15 years
[IMG: Tax Benefits*]
Tax Benefits*Under Section 80E
[IMG: Up to 100%]
Up to 100%Finance
[IMG: Competitive]
CompetitiveInterest RatesApply for an Education Loan Section 80E exemption is subject to the old tax regime as per the Income Tax Act, 1961.Calculate Student Loan EMIEducation Loan Interest RatesView All
[IMG: phone call]
Call us (toll free):1800-209-3636View All
[H2] Calculate Student Loan EMI
Enter your student loan details below to know your estimated monthly EMI and plan your payments easily.
[H2] Calculate Student Loan EMI Reset
Loan Amount ₹1 Lakh1 Crores Loan TenureMonths60180Interest Rate%715
[H3] Simple EMI Calculator Reset
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[H2] Your Result
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Total₹ 0 Total ₹ 0 Principal₹ 0Interest₹ 0Your Equated Monthly Installment is₹ 0Apply for loanShare With Friends
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*These are tentative calculations, Click here to read more details on this calculator*View details of section 80E of Income Tax Act, 1961
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Find the Right Path for Your
[H2] Study Abroad Journey
GET STARTEDFind the Right Path for Your
[H2] Study Abroad Journey
GET STARTED
[H2] Education Loan Interest Rates
FeatureDetailsMaximum Loan AmountNo Limit*Expenses CoveredTuition fees, living expenses, visas, and study materialsMargin Money RequiredNoSecured Loan AmountNo limit*Interest Rate Floating Secured Loans starting from 9.95%* p.a. Unsecured Loans starting from 11.25%* p.a. Fixed For Loans with tenure up to 5 years – 1% above floating rate* For Loans with tenure of 5 years or more – 1.5% above floating rate*Origination FeeMaximum up to 1.25%* + GST of the loan amountPrepayment & Foreclosure ChargesNoneRepayment TenureUp to 15 Years** T&C apply. Credila Financial Services Limited (Formerly known as HDFC Credila Financial Services Limited). The education loan facility provided by Credila Financial Services Limited will be at the sole discretion of the Company and within the Company's prescribed credit and underwriting norms/guidelines prevailing at the time of processing and disbursing the education loan. The Company maintains the right to change the interest rate at any time and at its sole discretion, without prior notice.
[H2] Education Loan Eligibility Criteria
CriteriaDetailsWho Can ApplyStudents pursuing higher education in India or abroad can apply.Academic QualificationsMust have prior education required for UG or PG programmesEligible CoursesAll courses*Eligible InstitutionsAll Universities, Colleges, and Vocational Institutes** Terms and conditions apply. The above table is only an indicative and not exhaustive list. The education loan facility provided by Credila Financial Services Limited will be at the sole discretion of the Company and within the Company's prescribed credit and underwriting norms/guidelines prevailing at the time of processing and disbursing the education loan. The Company maintains the right to change the interest rate at any time and at its sole discretion, without prior notice.
[H2] Required Documentation for an Education Loan
CategoryRequired DocumentsKYC DocumentsPAN Card, Aadhaar, Passport, Voter’s ID#Address ProofUtility bill, Telephone bill, or Bank Passbook#Income Proof (Salaried)Latest 3 Salary Slips, Form 16, and ITR#Income Proof (Self-Employed)ITR, Audited Financials, and Firm Registration Proof#Additional Documents (Self-Employed)Qualification Certificates and Establishment Proof#Proprietorship & Company DocumentsPartnership Deed, MoA, AoA, and Shareholding Pattern#Academic RecordsGrade 12 and Degree Mark Sheets, Scholarship Documents (if applicable)#Admission ProofCollege/University Admission Letter and Fee StructureFinancial ProofRent Agreement or Additional Income Sources (if applicable)#Other Documents3CB & 3CD Forms for Applicable Professional##Read the extensive list on the website.
[H2] How to Apply For an Education Loan
Follow this 3-step process
[IMG: How to Apply for Education Loan Step 1]
1Apply OnlineFill out the application form and upload documents.
[IMG: How to Apply for Education Loan Step 2]
2Application ReviewGet your sanction letter after our credit appraisal.
[IMG: How to Apply for Education Loan Step 3]
3Funds DisbursedYou are all set to get started.Apply nowClick on "Apply Now" to start your education loan process today!
[H2] Our Education Loans are Trusted By
Previous
[IMG: 2.26 lakh+]
[H3] 2.26 lakh+
Students
[IMG: 5200+]
[H3] 5200+
Institutes
[IMG: 64]
[H3] 64
Countries Next12
[IMG: 2.26 lakh+]
[H3] 2.26 lakh+
Students
[IMG: 5200+]
[H3] 5200+
Universities
[IMG: 64]
[H3] 64
Countries*As of March 31, 2025APPLY NOW
[H2] Let's get started
Study AbroadStudy in IndiaExecutive Programs(
[IMG: studyIndia]
)Need an education loan for studies abroad?We know how you can get one.Get More Insights(
[IMG: studyIndia]
)Need an education loan in India?We know how you can get one.Get More Insights(
[IMG: studyIndia]
)Need an education loan for an Executive Program?We know how you can get one.Get More Insights
[IMG: Education Loan for Abroad]
[H2] Why Avail a Credila Education Loan
[IMG: Save time. Go online.]
[H3] Save time. Go online.
Customer-centric processes with just 3 steps to disbursement.
[IMG: We cover it all]
[H3] We cover it all
Up to 100% financing of tuition and living expenses.
[IMG: Start early. Apply before admission.]
[H3] Start early. Apply before admission.
Benefit from seamless loan sanctions.
[IMG: Friendly rates. All the way.]
[H3] Friendly rates. All the way.
Student loans with customised interest rates.
[IMG: Dream big. Achieve bigger.]
[H3] Dream big. Achieve bigger.
Exploring funding for larger education costs? Not a problem.
[IMG: Pan-India network of branches]
[H3] Pan-India network of branches
Enjoy multi-city co-borrower(s) and collateral flexibility.
[IMG: The benefit of tax saving]
[H3] The benefit of tax saving
Added tax deductions* that bring down your cost of financing
[IMG: Flexible payment plans]
[H3] Flexible payment plans
Repayment tenure of up to 15 years.
[IMG: No hidden charges]
[H3] No hidden charges
What you see is what you pay.*Section 80E exemption is subject to the old tax regime as per the Income Tax Act, 1961
[H2]
[H2] Resources on Study Loan Abroad
EXCITING READSCurated Videos PreviousHow to Get a Student Visa Appointment for the UK in IndiaPlanning to study in the UK is an exciting step toward your academic and career goals. However, securing a student visa is a critical part of turning that plan into reality....READ MORE
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Important Overseas Education Costs You Should Plan ForYou’ve budgeted for tuition, booked your flight, and found student housing, so you’re financially set for studying abroad, right? Not quite. Many...READ MORE
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10 Things You Need to Know Before Studying AbroadStudying abroad is one of the most exciting chapters in a student’s life. From experiencing new cultures and meeting people from around the world...READ MORE
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6th February, 2026
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How to Choose a Destination to Study Abroad?Choosing the right country and university to study abroad isn’t just about picking a location off the map. It’s about finding the best fit for your academic goals...READ MORE
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Budgeting Tips to Study AbroadEvery year, thousands of Indian students take the leap and enrol in universities across the globe. While the excitement of living in a new country is unmatched...READ MORE
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Next PreviousWhy consult an Education CounsellorWATCH NOW
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The Importance of your Essays and SOPWATCH NOW
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[H2] FAQs on Student Loans
[H6]
[H3] 1. What is an education loan?
<p>An education loan is a financial aid that typically helps students cover tuition fees, living expenses, and other study-related costs. </p>
[H3] 2. What does Credila offer?
<p>Credila Financial Services Limited (Formerly known as HDFC Credila Financial Services Limited) is one of India’s largest education loan non-banking financial companies (NBFC). Credila provides education loans to Indian students to pursue higher education both in India and abroad.</p> <p>Credila has funded 2.26 lakh+ students, 64 countries and 5200+ universities*.</p> <p class='italic'><sup>*</sup>As of March 31, 2025 </p>
[H3] 3. How does an education loan work?
<p>An education loan covers tuition fees, living expenses, and other study-related costs. Credila offers customised loan solutions with flexible repayment options, ensuring hassle-free financing for your higher education.</p>
[H3] 4. Who can apply for an education loan in India?
<p>Indian students aspiring to pursue higher education both in India or abroad can apply.</p>
[H3] 5. Can I get a 100% education loan to study abroad?
<p>Yes, Credila provides up to 100% finance, covering tuition, accommodation, and ancillary expenses.</p>
[H3] 6. Can I apply for an education loan if I do not have a co-applicant with income?
<p>In this situation, it is best to check with your lender as to their policies.</p>
[H3] 7. Who can be a co-applicant for a student loan?
<p>A co-applicant may be a parent, guardian or spouse. It is prudent to confirm this eligibility with your lender.</p>
[H3] 8. What are the courses for which one can avail of an education loan?
<p>Education loans are available for undergraduate, postgraduate, and professional courses in India and abroad, including engineering, medical, management, law programmes and more.</p>
[H3] 9. Can I avail partial fees as a study loan?
<p>Yes, you can apply for a loan covering only a part of the course fee.</p>
[H3] 10. Can I get an education loan for professional courses?
<p>Yes, education loans are available for professional courses like engineering, medicine, management, law, chartered accountancy, and more.</p>
[H3] 11. What is the maximum and minimum amount I can avail from Credila?
<p>Credila offers customised loan solutions based on the student's needs.</p>
[H3] 12. Who is eligible to avail of tax exemption U/s 80E?
<p>Individuals who have taken an education loan for themselves, their spouse, children, or legal ward can claim a tax deduction<sup>*</sup> on the interest paid under Section 80E, as per the old tax regime.</p>
[H3] 13. How does one repay student loans?
<p>Repayment typically starts after the moratorium period, usually through EMI (Equated Monthly Instalments). Payments can be made via bank transfer, auto-debit, or online banking.</p>
[H3] 14. Are HDFC Credila and Credila the same?
<p>While the name may have changed to Credila Financial Services Limited from HDFC Credila Financial Services Limited, the company continues to offer education loans to students just as it did under its former name.</p>
[H3] 15. How is Credila different from other student loan providers?
<p>Credila Financial Services Limited is one of India’s largest education loan non-banking financial companies (NBFC). Since inception, Credila has invested time and resources setting up appropriate systems, processes, and know-how related to the education industry. With a pulse on the education sector, Credila’s education loans have been designed to be student-centric, as they understand the challenges that students and their parents face.</p>
[H3] 16. How many offices does Credila have across the country?
<p>Credila has offices across locations that include Mumbai, Pune, Nashik, Ahmedabad, New Delhi, Bengaluru, Chennai, Hyderabad, Kolkata, Bhopal, Bhubaneshwar, Chandigarh, Jaipur, Madurai, Surat, Vijayawada and Vishakhapatnam. We also have shared office spaces in Vadodara, Coimbatore, Indore and Nagpur.</p>
[H3] 17. Credila doesn’t have an office in my town or city. How will Credila offer me its loan service?
<p>With Credila’s multi-city flexibility, you can apply for an education loan from Credila from anywhere.</p> <p>All you need to do is apply online via Credila’s website at www.credila.com. Following this, the Credila team will guide you through the education loan process.</p>
[H3] 18. What are the education loan interest rates in India?
<p>Education loan interest rates in India vary across lenders and depend on multiple applicant and loan‑specific factors. At Credila, interest rates for education loans start from 9.95%* p.a. on a floating basis, subject to applicable terms and conditions. </p>
[H3] 19. What is the minimum and maximum repayment tenure available for an education loan?
<p>Credila offers flexible repayment tenure options of up to 15 years, subject to the Company’s prevailing credit and underwriting guidelines.</p>
[H3] 20. Does Credila provide education loans without collateral?
<p>Yes, Credila offers both secured and unsecured education loans for education both in India and abroad.</p>VIEW ALLDisclaimer: *T&C apply. The education loan facility provided by Credila Financial Services Limited ('The Company/Credila') Read More...
[H2] Our Students' Success Stories
Previous"In my experience with Credila, I found their service to be nothing short of exceptional. They not only provided me with the financial support I needed for my education but also offered invaluable gui

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[H1] Why Choose Credila
Enjoy Zero* TCS onFunds remitted foroverseaseducationTax Benefits*UnderSection 80EMulticityCo-borrowerRepaymentMoratoriumOption Available*This is subject to restrictions imposed under the Income Tax Act, 1961 and Budget 2025.
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Home>Education Loan to Study in USA 2026
[H1] Education Loan to Study in USA 2026
[IMG: Up to 100% finance]
Up to 100% finance Cover tuition fees, living expenses, and more.
[IMG: Repayment tenure up to 15 years*]
Repayment tenure up to 15 years* Manage your loan with ease.
[IMG: Digital process]
Digital processEnjoy online application and approval process.
[IMG: 0% TCS]
0% TCS*0% TCS on overseas remittancesSection 80E exemption is subject to the old tax regime as per the Income Tax Act, 1961.Apply for an Education LoanSection 80E exemption is subject to the old tax regime as per the Income Tax Act, 1961.Get an Education Loan for Higher Studies in USAEligibility Criteria for Education Loan to Study in USAView All
[IMG: phone call]
Call us (toll free):1800-209-3636View All
[H2] Get an Education Loan for Higher Studies in the USA
Step into your dream USA university with an education loan that covers up to 100% of tuition, living costs, and more. Enjoy flexible repayments, tax benefits, and make your global education journey a reality.
[H2] Eligibility Criteria for Education Loan to Study in the USA
To qualify for a study loan in USA, here are the eligibility criteria: Applicant Age: 16 years or above.Co-Applicant: Generally required, can be a parent, spouse, or guardian.Eligible Students: Those enrolling in bachelor’s or master’s programmes.Approved Courses*: Academic or professional programmes (MBA, MS, MBBS, etc.)Recognised Institutions*: Universities and colleges accredited in the USA.
[H2] Documents Required for Education Loan to Study in USA
[H3]
Documents required for an education loan application vary based on the borrower’s profile and the type of education loan the borrower applies for.Here are the basic general documents required:
[H2] KYC Documents of the applicant and all co-applicants
ParticularsPhoto IDResidence ProofSignature VerificationPAN Card
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Valid Passport
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Voter Identity Card
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Driving License
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Aadhaar Card
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[IMG: CheckCircle]
ID Card
[IMG: Info]
[IMG: CheckCircle]
Bank Statement / Passbook
[IMG: Info]
[IMG: CheckCircle]
Telephone Bill
[IMG: Info]
[IMG: CheckCircle]
Utility Bill
[IMG: Info]
[IMG: CheckCircle]
[H2] Academic Records
Marksheet or Certificate for Grade 12 or equivalent.Marksheet or Certificate for the last semester/year/degree (e.g. B.E., B.Com., B.Sc. etc.).Scholarship Documents (if applicable).
[H2] Proof of Admission
You must submit the college/university admission/acceptance letter when received.
[H2] Standardised Test Scores (where applicable)
Scores from tests such as GMAT, IELTS, TOEFL, or similar exams may be required depending on the specific admission or application requirements.
[H2] Statement of Cost of Studies/ Schedule of Expenses
Submit the fee structure from the college or university, mentioning the course fee and the estimated living expenses.
[H2] Income Proof of Co-applicant/ Guarantor (where applicable)
SalariedLatest 3 Salary Slips or Salary Certificate on employer’s letterhead.Latest one year’s Form 16 from the employer along with one year’s Income Tax Returns.Any other income proof not reflected in the above documents (e.g., Rent Agreement etc.).Self-Employed ProfessionalLatest two years’ Income Tax Returns with I.T. acknowledgement.Latest two years’ Audited Financials of the Company including Computation of Income, Balance Sheet, P&L along with all the Schedules.3CB & 3CD for Professionals with a turnover of more than INR 15 lakh and for others whose turnover is more than INR 60 lakh.Additional DocumentsIn addition to the above, the following documents are to be submittedProof of Establishment of the Firm (Shop Act, TIN No, Service Tax registration copy, SSI Certificate etc.).Copy of qualification or degree certificate.Self-Employed Non-ProfessionalLatest two years’ Income Tax Returns with I.T. acknowledgement.Latest two years’ Audited Financials of the Company including Computation of Income, Balance Sheet, P&L along with all the Schedules.3CB & 3CD for Professionals with a turnover of more than INR 15 lakh and for others whose turnover is more than INR 60 lakh .Additional DocumentsIn addition to the above, the following documents are to be submittedFor Proprietors: Proof of Establishment of the Firm (Shop Act, TIN No, Service Tax Registration Copy, SSI Certificate etc.)Partnership: Copy of Partnership deed.Private Company: Articles of Association (AoA), Memorandum of Association (MoA) and Shareholding Pattern Certified by the C.A.
[H2] Bank Account Statements
SalariedLatest six months Bank Statements are required where your salary is credited every month.Self-Employed Professional / Proprietorship/ Partnership / Private Limited CompanyLatest 8-month Current Account Bank Statement of the Bank Account where business receipts are credited every month. Latest eight months Saving Account Bank Statements.
[H2] Property Documents (where applicable)
Property-related documents such as those for residential or commercial property, NA plots (non-agricultural land) may be required as part of the education loan documentation process, depending on the loan application and requirements.
[H2] Other Documents (as applicable)
Any document to establish the relationship between the student and co-applicant, e.g, Ration card, Marriage Certificate, Birth Certificate, School Leaving Certificate, etcAccount Statement for loans or credit cards that had delays in payment (as proof of clarification).For students with past work experience, the last drawn salary slip.Proof of balance funds.NotesThe audit report, duly signed and verified by the Chartered Accountant, must be given in such form, setting forth such particulars as prescribed by the Board. Rule 6G of the I.T. Act provides that such audit reports and particulars should be given in Forms No. 3CA/3CB as applicable, and the statement of particulars should be given in Form No. 3CD.For Salaried/SEP/SENP Co-applicant: Saving Bank statement should be up to 15 days before the login date.For Self Employed Professional/Non-Processional Co-applicant: Current/O.D. bank statement should be up to 30 days before the login date.Copy of PAN Card or Passport is compulsory for all Income Earning/Retired Co-applicants.Download Checklist ShareShare With Friends
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For a more detailed list, kindly reach out to us by email at loan@credila.com, and we will be happy to assist you further
[IMG: Documents Required for Education Loan]
[H2] Interest Rates on Education Loan to Study in the USA
Access affordable financing with zero penalty on prepayment.FeatureDetailsInterest Rate (Floating)9.95%* p.a. onwardsOrigination Fee1.25%* + GSTPrepayment & Foreclosure ChargesNone* T&C apply. Credila Financial Services Limited (Formerly known as HDFC Credila Financial Services Limited). Read More
[H2] How to Apply for an Education Loan to Study in the USA
Follow this 3-step process
[IMG: How to Apply for Education Loan Step 1]
1Apply OnlineFill out the application form and upload documents.
[IMG: How to Apply for Education Loan Step 2]
2Application ReviewGet your sanction letter after our credit appraisal.
[IMG: How to Apply for Education Loan Step 3]
3Funds DisbursedYou are all set to get started.Apply nowClick on "Apply Now" to start your education loan process today!
[H2] Why Avail a Credila Education Loan?
[IMG: A simpler way to pay]
[H3] A simpler way to pay
We make getting an education loan easy so that you can focus on what matters most, your education.
[IMG: The benefit of tax saving]
[H3] The benefit of tax saving
Tax deductions* that bring down your cost of financing.
[IMG: Flexible repayment schedules]
[H3] Flexible repayment schedules
Repayment tenures of up to 15 years.
[IMG: Start early. Apply before admission.]
[H3] Start early. Apply before admission.
Benefit from seamless loan sanctions.
[IMG: We cover it all]
[H3] We cover it all
Up to 100% financing of tuition and cost of living.
[IMG: Pan-India network of branches]
[H3] Pan-India network of branches
Enjoy multi-city co-borrower(s) and collateral acceptance.
[IMG: Friendly rates. All the way.]
[H3] Friendly rates. All the way.
Customised interest rates that fit your need.
[IMG: Dream big. Achieve bigger.]
[H3] Dream big. Achieve bigger.
Exploring funding for larger education costs? Not a problem.
[IMG: No hidden charges]
[H3] No hidden charges
What you see is what you pay.*Section 80E exemption is subject to the old tax regime as per the Income Tax Act, 1961
[H2]
#Under the old tax regime. Please consult your Chartered Accountant or Tax Advisor for information specific to you. Disclaimer: *T&C apply. The education loan facility provided by Credila Financial Services Limited ('The Company/Credila') Read More...
[H2] Key calculators to assist you
Tax saving calculator
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Your Emi
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The total cost of your education
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[H2] Education Loan in Other Countries
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Education Loan For Australia
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Education Loan For UK
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Education Loan For Canada
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Education Loan For Germany
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Education Loan For Ireland
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Education Loan For France
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Education Loan For UAE
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Education Loan For Netherlands
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Education Loan For New ZealandRead More
[H2] Resources on Study Loan Abroad
EXCITING READSCurated Videos PreviousHow to Get a Student Visa Appointment for the UK in IndiaPlanning to study in the UK is an exciting step toward your academic and career goals. However, securing a student visa is a critical part of turning that plan into reality....READ MORE
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29th January, 2026
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Important Overseas Education Costs You Should Plan ForYou’ve budgeted for tuition, booked your flight, and found student housing, so you’re financially set for studying abroad, right? Not quite. Many...READ MORE
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9th February, 2026
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10 Things You Need to Know Before Studying AbroadStudying abroad is one of the most exciting chapters in a student’s life. From experiencing new cultures and meeting people from around the world...READ MORE
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6th February, 2026
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How to Choose a Destination to Study Abroad?Choosing the right country and university to study abroad isn’t just about picking a location off the map. It’s about finding the best fit for your academic goals...READ MORE
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4th February, 2026
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Budgeting Tips to Study AbroadEvery year, thousands of Indian students take the leap and enrol in universities across the globe. While the excitement of living in a new country is unmatched...READ MORE
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4th February, 2026
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Next PreviousWhy consult an Education CounsellorWATCH NOW
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Tips for College AdmissionWATCH NOW
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The Importance of your Essays and SOPWATCH NOW
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Which Standardised Tests should you takeWATCH NOW
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[H2] FAQs on Education Loan to Study in the USA
[H6] Don’t know where to start? We are here to help.
[H3] 1. . What are the different types of education loans available for studying in the USA?
Credila provides both secured (with collateral) and unsecured (without collateral) loans for the USA.
[H3] 2. What is the education loan rate for studying in the United States?
Credila offers interest rates starting from 9.95%* p.a.
[H3] 3. Can I get a 100% loan to study in the United States?
Yes, Credila offers education loans that cover up to 100% of the total cost of education, including tuition fees, living expenses, and other associated costs.
[H3] 4. What is the repayment tenure for education loans?
Credila offers repayment options that range up to 15 years.
[H3] 5. Can I repay my USA student loan early?
Yes, Credila allows early repayment of your student loan if required.
[H3] 6. Can I use a USA student loan for expenses such as living?
Yes, Credila education loans are designed to cover not just tuition but also living expenses, travel, books, and other educational costs during your stay in the USA.
[H3] 7. What happens if I change courses after getting a student loan?
If you change your course or university, you must inform Credila. Loan terms may be revised depending on the new program, its duration, and overall cost structure.ZVIEW ALL
[H2] Our Students' Success Stories
Previous"In my experience with Credila, I found their service to be nothing short of exceptional. They not only provided me with the financial support I needed for my education but also offered invaluable guidance throughout the process. Their quick and efficient loan disbursement process ensured that I could focus on my studies without financial worries, and their priority-based approach to issue resolution demonstrated their commitment to customer satisfaction. I was highly impressed with their service and couldn't be more satisfied with the entire experience. I wholeheartedly recommend Credila to anyone in need of an education loan. I must also commend the relationship managers, who were an integral part of my positive experience. Their dedication is a testament to Credila's commitment to excellence in customer service. Their support played a crucial role in making my educational journey smooth and successful, and I'm immensely grateful for their exceptional service."
[IMG: Ameya Shahu]
Ameya ShahuArizona State University Arizona"My relationship manager was of great help starting from document preparation to loan processing. They went out of the way to answer all my queries. I h

Home>Education Loan to Study in UK 2026
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[H1] Education Loan to Study in the UK 2026
[IMG: Up to 100% finance]
Up to 100% finance Cover tuition fees, living expenses, and more.
[IMG: Repayment tenure up to 15 years*]
Repayment tenure up to 15 years* Manage your loan with ease.
[IMG: Digital process]
Digital processEnjoy online application and approval process.
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0% TCS*0% TCS on overseas remittancesSection 80E exemption is subject to the old tax regime as per the Income Tax Act, 1961.Apply for an Education LoanSection 80E exemption is subject to the old tax regime as per the Income Tax Act, 1961.Get an Education Loan for Higher Studies in the UKEligibility Criteria for Education Loan to Study in the UKView All
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Call us (toll free):1800-209-3636View All
[H2] Get an Education Loan for Higher Studies in the UK
Studying in the UK can be an exciting journey, and Credila is here to help every step of the way. Our education loan for the UK covers your tuition fees, living costs, travel, and more. With easy repayment plans and competitive interest rates, Credila makes studying at top UK universities easier. Apply today and follow your dreams while we assist you with education finance!
[H2] Eligibility Criteria for Education Loan to Study in the UK
To qualify for a study loan in the UK, here are the eligibility criteria: Applicant Age: 16 years or above.Co-Applicant: Generally required, can be a parent, spouse, or guardian.Eligible Students: Those enrolling in bachelor’s or master’s programmes.Approved Courses*: Academic or professional programmes (MBA, MS, MBBS, etc.)Recognised Institutions*: Universities and colleges accredited in the UK.
[H2] Documents Required for Education Loan to Study in the UK
[H3]
Documents required for an education loan application vary based on the borrower’s profile and the type of education loan the borrower applies for.Here are the basic general documents required:
[H2] KYC Documents of the applicant and all co-applicants
ParticularsPhoto IDResidence ProofSignature VerificationPAN Card
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Valid Passport
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Voter Identity Card
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Driving License
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Aadhaar Card
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ID Card
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Bank Statement / Passbook
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Telephone Bill
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Utility Bill
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[H2] Academic Records
Marksheet or Certificate for Grade 12 or equivalent.Marksheet or Certificate for the last semester/year/degree (e.g. B.E., B.Com., B.Sc. etc.).Scholarship Documents (if applicable).
[H2] Proof of Admission
You must submit the college/university admission/acceptance letter when received.
[H2] Standardised Test Scores (where applicable)
Scores from tests such as GMAT, IELTS, TOEFL, or similar exams may be required depending on the specific admission or application requirements.
[H2] Statement of Cost of Studies/ Schedule of Expenses
Submit the fee structure from the college or university, mentioning the course fee and the estimated living expenses.
[H2] Income Proof of Co-applicant/ Guarantor (where applicable)
SalariedLatest 3 Salary Slips or Salary Certificate on employer’s letterhead.Latest one year’s Form 16 from the employer along with one year’s Income Tax Returns.Any other income proof not reflected in the above documents (e.g., Rent Agreement etc.).Self-Employed ProfessionalLatest two years’ Income Tax Returns with I.T. acknowledgement.Latest two years’ Audited Financials of the Company including Computation of Income, Balance Sheet, P&L along with all the Schedules.3CB & 3CD for Professionals with a turnover of more than INR 15 lakh and for others whose turnover is more than INR 60 lakh.Additional DocumentsIn addition to the above, the following documents are to be submittedProof of Establishment of the Firm (Shop Act, TIN No, Service Tax registration copy, SSI Certificate etc.).Copy of qualification or degree certificate.Self-Employed Non-ProfessionalLatest two years’ Income Tax Returns with I.T. acknowledgement.Latest two years’ Audited Financials of the Company including Computation of Income, Balance Sheet, P&L along with all the Schedules.3CB & 3CD for Professionals with a turnover of more than INR 15 lakh and for others whose turnover is more than INR 60 lakh .Additional DocumentsIn addition to the above, the following documents are to be submittedFor Proprietors: Proof of Establishment of the Firm (Shop Act, TIN No, Service Tax Registration Copy, SSI Certificate etc.)Partnership: Copy of Partnership deed.Private Company: Articles of Association (AoA), Memorandum of Association (MoA) and Shareholding Pattern Certified by the C.A.
[H2] Bank Account Statements
SalariedLatest six months Bank Statements are required where your salary is credited every month.Self-Employed Professional / Proprietorship/ Partnership / Private Limited CompanyLatest 8-month Current Account Bank Statement of the Bank Account where business receipts are credited every month. Latest eight months Saving Account Bank Statements.
[H2] Property Documents (where applicable)
Property-related documents such as those for residential or commercial property, NA plots (non-agricultural land) may be required as part of the education loan documentation process, depending on the loan application and requirements.
[H2] Other Documents (as applicable)
Any document to establish the relationship between the student and co-applicant, e.g, Ration card, Marriage Certificate, Birth Certificate, School Leaving Certificate, etcAccount Statement for loans or credit cards that had delays in payment (as proof of clarification).For students with past work experience, the last drawn salary slip.Proof of balance funds.NotesThe audit report, duly signed and verified by the Chartered Accountant, must be given in such form, setting forth such particulars as prescribed by the Board. Rule 6G of the I.T. Act provides that such audit reports and particulars should be given in Forms No. 3CA/3CB as applicable, and the statement of particulars should be given in Form No. 3CD.For Salaried/SEP/SENP Co-applicant: Saving Bank statement should be up to 15 days before the login date.For Self Employed Professional/Non-Processional Co-applicant: Current/O.D. bank statement should be up to 30 days before the login date.Copy of PAN Card or Passport is compulsory for all Income Earning/Retired Co-applicants.Download Checklist ShareShare With Friends
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For a more detailed list, kindly reach out to us by email at loan@credila.com, and we will be happy to assist you further
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[H2] Interest Rates on Education Loan to Study in the UK
Access affordable financing with zero penalty on prepayment.FeatureDetailsInterest Rate (Floating)9.95%* p.a. onwardsOrigination Fee1.25%* + GSTPrepayment & Foreclosure ChargesNone* T&C apply. Credila Financial Services Limited (Formerly known as HDFC Credila Financial Services Limited). Read More
[H2] How to Apply for an Education Loan to Study in UK
Follow this 3-step process
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1Apply OnlineFill out the application form and upload documents.
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2Application ReviewGet your sanction letter after our credit appraisal.
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3Funds DisbursedYou are all set to get started.Apply nowClick on "Apply Now" to start your education loan process today!
[H2] Why Avail a Credila Education Loan?
[IMG: Save time. Go online.]
[H3] Save time. Go online.
Customer-centric processes with just 3 steps to disbursement.
[IMG: The benefit of tax saving]
[H3] The benefit of tax saving
Tax deductions* that bring down your cost of financing.
[IMG: Flexible repayment schedules]
[H3] Flexible repayment schedules
Repayment tenures of up to 15 years.
[IMG: Start early. Apply before admission.]
[H3] Start early. Apply before admission.
Benefit from seamless loan sanctions.
[IMG: We cover it all]
[H3] We cover it all
Up to 100% financing of tuition and cost of living.
[IMG: Pan-India network of branches]
[H3] Pan-India network of branches
Enjoy multi-city co-borrower(s) and collateral acceptance.
[IMG: Friendly rates. All the way.]
[H3] Friendly rates. All the way.
Customised interest rates that fit your need.
[IMG: Dream big. Achieve bigger.]
[H3] Dream big. Achieve bigger.
Exploring funding for larger education costs? Not a problem.
[IMG: No hidden charges]
[H3] No hidden charges
What you see is what you pay.*Section 80E exemption is subject to the old tax regime as per the Income Tax Act, 1961
[H2]
#Under the old tax regime. Please consult your Chartered Accountant or Tax Advisor for information specific to you. Disclaimer: *T&C apply. The education loan facility provided by Credila Financial Services Limited ('The Company/Credila') Read More...
[H2] Key calculators to assist you
Tax saving calculator
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[H2] Education Loan in Other Countries
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[H2] Resources on Study Loan Abroad
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[H2] FAQs on UK Education Loan
[H6] Don’t know where to start? We are here to help.
[H3] 1. What types of education loans are available for studies in the UK?
You can avail of secured (collateral-backed) and unsecured (without collateral) education loans from Credila.
[H3] 2. What is the education loan rate to study in the United Kingdom?
The interest rate starts at 9.95%* per annum and varies based on the loan type and the applicant's creditworthiness.
[H3] 3. Can I get a 100% loan to study in the United Kingdom?
Yes, Credila offers up to 100% finance, covering tuition fees, accommodation, and living expenses.
[H3] 4. How long does it take to repay a student loan for the United Kingdom?
Repayment tenure ranges up to 15 years.
[H3] 5. Can I repay my UK student loan early?
Yes, you can prepay your student loan without penalties#.
[H3] 6. Can I use a UK student loan for living expenses?
Yes, education loans typically cover tuition fees, accommodation, food, and other living costs.
[H3] 7. What happens if I change courses after getting a student loan?
You must inform Credila, as the loan terms may be reassessed based on the new course and university.
[H3] 8. Is HDFC Credila and Credila the same?
Despite changing its name from HDFC Credila Financial Services Limited to Credila Financial Services Limited, the company still provides student loans, just as it did before.VIEW ALL
[H2] Our Students' Success Stories
Previous"In my experience with Credila, I found their service to be nothing short of exceptional. They not only provided me with the financial support I needed for my education but also offered invaluable guidance throughout the process. Their quick and efficient loan disbursement process ensured that I could focus on my studies without financial worries, and their priority-based approach to issue resolution demonstrated their commitment to customer satisfaction. I was highly impressed with their service and couldn't be more satisfied with the entire experience. I wholeheartedly recommend Credila to anyone in need of an education loan. I must also commend the relationship managers, who were an integral part of my positive experience. Their dedication is a testament to Credila's commitment to excellence in customer service. Their support played a crucial role in making my educational journey smooth and successful, and I'm immensely grateful for their exceptional servi