HDFC CREDILA & STUDENT COVER

“A WINNING COMBINATION TO FINANCE YOUR STUDY ABROAD”

The biggest asset of any country is its youth. With a vast majority of the population below the age of 35, India’s future at the moment looks bright as aspiring young individuals have the potential to shape country’s destiny provided they get the right opportunity. Student Cover shares HDFC Credila’s vision of transforming the lives of aspiring Indian students through education loan and channelizing their energy towards nation building.

Contents

• 1 Benefits of taking a loan from HDFC Credila through Student Cover1.1 Hassle-Free, Low-Interest Loan that provides Tax Relief1.2 100% Finance, Unsecured Loans up to Rs 40 Lakhs1.3 Experts in the business, customized delivery of Service
• 1.1 Hassle-Free, Low-Interest Loan that provides Tax Relief
• 1.2 100% Finance, Unsecured Loans up to Rs 40 Lakhs
• 1.3 Experts in the business, customized delivery of Service
• 2 How to Apply for HDFC Credila Education Loan through Student Cover?

For starters, HDFC Credila is a subsidiary company of financial sector conglomerate HDFC Ltd. It is a Non-Banking Financial company which proudly boasts of being the first dedicated education loan company in India. It specializes in financing higher education of students by providing secured and unsecured education loans. In fact, HDFC Credila has so far funded Indian students pursuing higher education not just in India but in over 2100 institutes in more than 35 countries.

Benefits of taking a loan from HDFC Credila through Student Cover

Hassle-Free, Low-Interest Loan that provides Tax Relief

Credila offers education loans to those hoping to pursue higher education in India, in the U.S and in other foreign countries. And what makes taking education loans from Credila through Student Cover more attractive is that, other than getting hassle-free education loans at attractive interest rates from 12.00% to 13.00%, they also get tax relief on interest on those loans.

Under 80-E of the Income Tax Act, co-borrowers can claim income tax exemption on the interest that they are paying on the loan. This might well, makes interest on education loan next to nil.

100% Finance, Unsecured Loans up to Rs 40 Lakhs

In addition to hassle free loans with low ROI and tax benefit, there is also no upper limit on the approved loan amount. Students can get up to 100% of their higher education cost abroad (including tuition fee and living expenses) financed by education loan.

Moreover, depending on the course selected by the student, reputation of the institution and the country where the institution is located, students can get as much as Rs 40 Lakhs of unsecured education loans from HDFC Credila through Student Cover.

Experts in the business, customized delivery of Service

Both HDFC Credila and Student Cover have made a name for themselves in the business of providing education loans to students. The credit to that goes to the student centric approach adopted by the two organizations which aim to reduce the processing time and deliver loans at borrower’s doorsteps.

The loan products are customized and so designed to meet the specific needs of the students. The evaluation of the loan requirements of students by experts ensures that the students get the loans that they need. They do not have to settle for loans that either too much or too less.

How to Apply for HDFC Credila Education Loan through Student Cover?

The process of applying for student loan in HDFC Credila is very easy. Any student who wishes to study abroad, especially in countries like the USA, can apply for unsecured education loan from Credila through Student Cover. The student does not have to visit any bank branch.

After finalizing tuition fees requirements of the selected course, students can call up the experts at Student Cover and apply for education loan. The Student Cover loan executive will undertake a profile evaluation and preliminary review and then provide loan offer, including the in-principle sanctioned amount, the rate of interest, the payback method and the payback period to students, after getting in touch with HDFC Credila.

If the student seeks education loan to show as ‘Source of Funds’, HDFC Credila also provides letter of ‘Availability of Funds’ to students so that they may secure admission.

After preliminary process, the loan executive from Student Cover will collect the relevant documents from the student (if he or she is located in Delhi NCR). Otherwise, it will be collected by the official from HDFC Credila itself.

Once the verification of documents is done, the student will receive loan offer letter from HDFC Credila which have to be filled and submitted along with certified copies of the original documents. After the final check and verification, the loan amount will be sanctioned and disbursed in the required bank account as mentioned by the student.

Student Cover assists students in getting hassle-free education loans and at most affordable prices. Students can additionally visit the abroad education loan page for more information.

Disclaimer:

– The education loan amount and interest rates mentioned above are case specific and may vary from case to case.

– Student Cover does not charge any fee from the students for any service rendered during the course of or after the loan application process.