Education Loans For India and Abroad
Repayment tenure up to 15 years
Tax Benefits* Under Section 80E
Up to 100% Finance
Competitive Interest Rates
Section 80E exemption is subject to the old tax regime as per the Income Tax Act, 1961.
Apply for an Education Loan
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Education Loan Interest Rates
| Feature | Details |
|---|---|
| Maximum Loan Amount | No Limit* |
| Expenses Covered | Tuition fees, living expenses, visas, and study materials |
| Margin Money Required | No |
| Secured Loan Amount | No limit* |
| Interest Rate | Floating Fixed |
| Origination Fee | Maximum up to 1.25%* + GST of the loan amount |
| Prepayment & Foreclosure Charges | None |
| Repayment Tenure | Up to 15 Years* |
* T&C apply. Krcred. Financial Services Limited (Formerly known as HDFC Krcred. Financial Services Limited). The education loan facility provided by krcred. 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.
Education Loan Eligibility Criteria
| Criteria | Details |
|---|---|
| Who Can Apply | Students pursuing higher education in India or abroad can apply. |
| Academic Qualifications | Must have prior education required for UG or PG programmes |
| Eligible Courses | All courses* |
| Eligible Institutions | All 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 Krcred 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.
Required Documentation for an Education Loan
| Category | Required Documents |
|---|---|
| KYC Documents | PAN Card, Aadhaar, Passport, Voter’s ID# |
| Address Proof | Utility 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 Documents | Partnership Deed, MoA, AoA, and Shareholding Pattern# |
| Academic Records | Grade 12 and Degree Mark Sheets, Scholarship Documents (if applicable)# |
| Admission Proof | College/University Admission Letter and Fee Structure |
| Financial Proof | Rent Agreement or Additional Income Sources (if applicable)# |
| Other Documents | 3CB & 3CD Forms for Applicable Professional# |
#Read the extensive list on the website.
How to Apply For an Education Loan
Follow this 3-step process
Apply Online
Fill out the application form and upload documents.
Application Review
Get your sanction letter after our credit appraisal.
Funds Disbursed
You are all set to get started.
Let's get started
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Why Avail a Credila Education Loan
Save time. Go online.
Customer-centric processes with just 3 steps to disbursement.
We cover it all
Up to 100% financing of tuition and living expenses.
Start early. Apply before admission.
Benefit from seamless loan sanctions.
Friendly rates. All the way.
Student loans with customised interest rates.
Dream big. Achieve bigger.
Exploring funding for larger education costs? Not a problem.
Pan-India network of branches
Enjoy multi-city co-borrower(s) and collateral flexibility.
The benefit of tax saving
Added tax deductions* that bring down your cost of financing
Flexible payment plans
Repayment tenure of up to 15 years.
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