Credila Education Loan for Study Abroad: Interest Rates, Fees, Processing Time
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Under the Credila Financial Services education loan students can borrow money to study 3300+ courses offered by 4600+ universities and colleges located in 63+ countries.Credila Financial Services offer student loans, which is the most preferred way to finance your study abroad dream.
Credila Financial Services has a special loan for students looking to study abroad. Since it is a specialised loan for Indian students looking to continue their studies internationally, the whole process of getting this loan is comparatively simpler and easier. Here is some information about this loan.
- Features of Credila Financial Services Education Loan
- Credila Financial Services Loan Eligibility Criteria
- Documents Required for Credila Financial Services Loan
- Credila Financial Services Interest Rates and Fees
Features of Credila Financial Services Education Loan
- Offers education loans up to 100% of the total educational expenses
- Loan amount of more than Rs. 20 lakhs are available
- Repay loans via EMIs
- Competitive rates for students getting into top universities across the world.
- Doorstep service ensures loans are disbursed as quickly as possible
- Web billing and servicing
- Benefits under section 80(E) of the Income Tax Act 1961.
- The loan can be sanctioned before the admission is confirmed.
Credila Financial Services Loan Eligibility Criteria
- The student should be a resident Indian.
- Applicants should be older than 35 years.
- The co-applicant could be a parent, spouse, sibling, in-laws, or uncle/aunt.
Related links:
- Eligibility Criteria for Education Loan
- The A to Z of Study Abroad Loans: All Terms and Their Definitions
- Everything You Need to Know About Education Loan
Documents Required for Credila Financial Services Loan
Check out the list of documents required for education loan offered under Credila Financial Services
List of Documents Required for Credila Financial Services
Here is the checklist of all the documents that you need to have at the time of the education loan application:
| Documents Required for Education Loan | |
|---|---|
| PAN Card | PAN or Form No. 60 (Mandatory if PAN is provided) |
| Application Form | Completed Original or Digital Application Form |
| Academic Documents | |
| Address Proof of Applicant | Any one of the following valid ID/address proofs:
|
| Financial Documents | Co-Applicant: Salaried
Co-Applicant: Self Employed
Co-Applicant: No Income 6 Months Savings Account bank statements |
Credila Financial Services Interest Rates and Fees
It is important to know the ROI of Credila Financial Services education loan before applying for this. Below, we have mentioned detailed information about ROI and fees related to this study loan.
| Description of Charges |
Education Loan |
|---|---|
| Loan processing charges |
Up to 1.5% of the sanctioned amount |
| Pre-payment charges |
None |
| No objection certificate (NOC) |
None |
| Duplicate of no dues certificate |
None |
| Solvency certificate |
Not applicable |
| Charges for late payment of EMI |
2% per month of instalment (MI/PMII) + applicable taxes |
| Credit assessment charges |
None |
| Non-standard repayment charges |
None |
| Cheque or ACH mandate or direct debit swapping charges |
Up to INR 500 per swap instance plus applicable taxes |
| Cheque/ACH/Direct debit bouncing charges |
Rs. 400 per dishonour of cheque/ACH/Direct Debit return per presentation + any applicable taxes |
| Stamp duty and other statutory charges |
As applicable by the laws of the state |
| Loan cancellation charges |
1% of the unveiled sanctioned loan amount + any applicable taxes |
| Manual collection charges |
Rs. 200 per visit plus any applicable taxes |
| Charges for updating and handling loan account as per customer request |
Rs. 1,500 plus applicable any taxes |
| Document storage and retrieval charges |
For no collateral: Rs. 2,000 plus applicable any taxes |
Learn More About Education Loans:
- Indian Banks offering Education Loans for Studying Abroad
- How to Choose Your Bank for Education Loan
Note: Students who wish to study abroad may get in touch with India’s top-rated loan providers and apply for an education loan through Shiksha Study Abroad.
University of Lancashire accepts country-specific qualifications from overseas applicants. Indian candidates who wish to pursue their higher studies from the university, must meet the University of Lancashire admission requirements for Indian students listed below:
Undergraduate Requirements:
- Higher secondary school certificate
- Overall score of 60% (80% for excellence scholarship)
- 60% - 70% in Standard XII English (IELTS 6.0 equivalent)
Graduate Requirements:
- Bachelor's or Master's degree in relevant field;
- Overall score of 58% in bachelor's degree (80% for excellence scholarship) or 55% in master's degree
- 65% - 75% in Standard XII English (IELTS 6.5 equivalent)
At the University of Lancashire, international students can choose between over 350 undergraduate and around 200 postgraduate programs offered in leading fields of study. According to the historical data of the university's alumni, some of the most popular Lancashire University courses are:
Note: In the above pie chart, Others include Mathematics, Criminal Justice/Safety Studies, American/US Law/Legal Studies/Jurisprudence, Human Resources Management/Personnel Administration, and Organizational Leadership.
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Comments
(4)
4 years ago
P
4 years ago
B
6 years ago
P
4 years ago
Hi Brijesh, banks offer a loan of up to Rs 7.5 lakhs without collateral. Fore more information on collateral, please check the below guide: https://studyabroad.shiksha.com/education-loan-applycontent61319
6 years ago
Hi Sapna, majority of Indian banks provides upto Rs. 20 lacs for studying abroad. Please read the article above to know about Credila loan. You may also check this guide https://studyabroad.shiksha.com/education-loan-applycontent61319
Here are some popular government education loan schemes in India, to fund your higher studies: