HDFC Credila Education Loan
Get Free Education Loan Assistance From edfin
Interest Rate
Starting from 10.25%
Processing Fees
0.5% to 1% + GST.
Margin Money
Nil
Five Easy Steps to Fund Your Education
1. Check Your Loan Eligibility
Use our free tool to verify your eligibility and receive conditional loan offers.
2. Talk To Our Loan Experts
Connect with our dedicated loan counselor for a better understanding of the process.
3. Upload Documents and Fill Out the Form
Submit your documents or complete the necessary forms for bank verification and evaluation.
4. Negotiate For Your Best Loan Offer
edfin expert’s negotiate to secure the most competitive interest rates and the highest possible loan amount for you.
5.Get Loan Approval and Disbursement
Recieve your final approval and sanction letter, ensuring prompt fund disbursement from the lender
Overview of HDFC Credila Loan Without Collateral
| Feature | Description |
|---|---|
|
Loan amount |
Up to INR 1.5 Cr (Secured loan)
Up to INR 70 Lakh (Unsecured loan) |
|
Rate of interest |
10.50% – 12.25% |
|
Processing fees |
0.75%-1.25% of the sanctioned amount |
|
Processing time |
7-10 days |
|
Margin money |
nil |
|
Moratorium period |
Course duration + 1-year |
|
Repayment tenure |
15 years |
*Moratorium period is the time duration during which you are not required to make payments toward your education loan.
*Margin money refers to the amount of money that a borrower is required to contribute towards the loan, while the remaining amount is paid by the lender.
Income Tax Under Section 80e Benefits by HDFC Credila
HDFC Credila offers tax benefits under Section 80E on HDFC Credila non collateral education loan. Section 80E of the Income Tax Act allows individuals to claim a deduction for the interest paid on an education loan for a maximum period of eight years, starting from the year in which the repayment of the loan begins. The deduction can be claimed for the interest paid on the loan. It is important to note that the tax benefit under Section 80E is only available for the interest paid on the education loan and not for the principal amount.
