Financial Aid
Credila Education Loan
Receive expert, personalized guidance at no cost from VITTIYA to navigate education financing, ensuring a smooth journey to securing the funding you need for your studies in India or abroad.
Interest Rate
Starting from 10.25%
Processing Fees
0.75% – 1.25%
Margin Money
NIL
The Process Explained
How It Goes
Easy 5-Step Digital Journey to Secure Your Education Loan
Ensure Your Loan Eligibility
Check your eligibility & get conditional loan offers
instantly.
Speak with Loan Experts
Connect with our loan counselor to better understand the process.
Share Documents & Fill the Form
Complete required forms & submit documents for bank verification.
Settle Your Best Loan Offer
VITTIYA secures the best rates & maximum loan amount for you.
Get Loan Approval & Disbursement
Get fast loan approval & quick fund
disbursement.
Ensure Your Loan Eligibility
Check your eligibility & get conditional loan offers
instantly.
Speak with Loan Experts
Connect with our loan counselor to better understand the process.
Share Documents & Fill the Form
Complete required forms & submit documents for bank verification.
Settle Your Best Loan Offer
VITTIYA secures the best rates & maximum loan amount for you.
Get Loan Approval & Disbursement
Get fast loan approval & quick fund
disbursement.
Study Abroad
Credila Bank Education Loan for Abroad Studies
All you need to know about Credila bank education loan for studying abroad
Overview of Credila Education Loan
Credila, a leading NBFC in India, specializes in education loans for students aiming to study abroad. With loan coverage for over 5,000 institutions across 64 countries, Credila offers fully customized solutions based on your course, university, and destination country.
Their student-first approach ensures that each loan is tailored to meet your specific financial needs—making Credila a trusted choice for financing your international education through VITTIYA.
Overview of Credila Loan without Collateral
| Feature | Detail |
|---|---|
| Loan Amount |
Up to INR 1.5 Crores (Secured loan) Up to INR 75 Lakh (Unsecured loan) |
| Rate of Interest | 10.50% - 13% |
| Processing Fees | 0.75%-1.25% of the Sanctioned Amount |
| ProcessingTime | 4 - 5 Working Days after Document Verification |
| Margin Money | NIL |
| Moratorium Period | Course Duration + 12 Months |
| Repayment Tenure | 15 Years |
Income Tax Under Section 80e Benefits by Credila
Credila is the only NBFC in India that offers tax benefits under Section 80E on a 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.
Eligibility Criteria for Credila Unsecured Education Loan
Understanding the Credila education loan requirements is crucial for students and co-applicants before embarking on the application process. By familiarizing yourself with the Credila education loan eligibility criteria, you can streamline the application process, ensuring a smoother and more efficient journey toward securing a Credila education loan. Below are the Credila collateral free loan eligibility criteria –
- Nationality & Age: Indian citizen, 18 years or older with admission to a recognized university.
- Academics: Strong academic background with qualifying scores in GRE, IELTS, or TOEFL.
- Co-applicant: Mandatory, with a stable income and good credit history.
- Course & Country: Covers UG/PG/diploma/PhD courses in top countries like the USA, UK, Canada, Germany, and more.
Credila Education Loan for US
| Feature | GRE > = 310 | GRE 300 = < 310 | GRE 285 = < 299 |
|---|---|---|---|
| Rate of Interest | 11.25 - 11.75% | 11.75% - 12.5% | 12.5 - 13% |
| Loan Amount | Up to INR 75 Lakh | Up to INR 50 Lakh | Up to INR 40 Lakh |
| Co-applicant Minimum Income | INR 15K - INR 20K | INR 30K | INR 30K |
| Monthly Installments during the Course | Partial Simple Interest | Partial Simple Interest | Simple Interest |
| Processing Fee | 0.5 - 1% | 0.7 - 1% | 1% |
Credila Education Loans for Other Countries
| Feature | Australia / New Zealand | Canada | UK | Germany / Ireland / France / Italy |
|---|---|---|---|---|
| Rate of Interest | 12 - 13% | 11.75 - 12.5% | 12 - 13% | 12 - 12.75% |
| Loan Amount | INR 25 Lakh | INR 40 Lakh | INR 40 Lakh | INR 25 Lakh |
| Co-applicant Minimum Income | INR 60K | INR 35K | INR 35K | INR 35K |
| Monthly Installments during the Course | Simple Interest / EMI | Partial Simple Interest | Simple Interest / Partial Simple Interest | Simple Interest / Partial Interest |
| Processing Fee | 1% | 0.75 - 1% | 1 - 2% | 1 - 1.5% |
Documents Required for Credila Education Loan
VITTIYA provides a customized documents list for Credila non collateral loan, which depends on your profile, your co-applicant’s profile, and any property/asset you may offer as collateral.
Applicant’s Documents
- ID Proof: PAN, Passport, DL, Voter ID, etc.
- Address Proof: Utility bills, Aadhaar, etc.
- Passport & Admission Letter (conditional accepted)
- Statement of expenses
- Filled loan application form
Co-applicants Documents
- ID & Address Proof: Same as above
- Bank Statements (last 6 months)
If Salaried
- Salary slips (last 3 months)
- Form 16 (last 2 years)
- Asset & liability statement
If Self-Employed
- Business address proof
- IT returns (last 2 years), TDS (if any)
- Qualification certificate (for professionals)
- Asset & liability statement
- Bank statement (last 6 months)
Bank Education Loan EMI Calculator
When planning to finance your higher education through a bank education loan, using an EMI calculator can make a significant difference in your financial planning. VITTIYA offers a user-friendly education loan EMI calculator that helps you estimate your monthly repayments well in advance. By entering key details such as the total loan amount, interest rate, and repayment tenure, you can instantly view your expected EMI amount.
This tool empowers you to make informed decisions by adjusting the loan amount or tenure to suit your financial situation. It ensures that you select a repayment plan that aligns with your monthly budget, making your education loan journey more manageable and stress-free. Using the EMI calculator before applying for a loan gives you clarity and confidence, helping you plan better for your future expenses.
How to Apply for Credila Education Loans via VITTIYA?
If you’re planning to secure an education loan from Credila for studying abroad, you can apply directly through their official website. However, to make the process smoother and more convenient, you can opt to apply through VITTIYA.
VITTIYA is a dedicated platform that supports Indian students in accessing the best financing options for their international education. By choosing VITTIYA, you not only simplify the loan process but also receive expert guidance at every step. All you need to do is check your eligibility through our platform, and our team will take care of the rest—from documentation to final approval—ensuring a seamless and stress-free experience in securing your education loan.
How to Contact Credila for Education Loans?
To get in touch with Credila for any education loan-related queries, you can reach out through multiple channels such as email, their website, or by visiting a local branch. You can email their support team at support@credila.com with details about your profile, and they will guide you accordingly. Alternatively, you can visit Credila’s official website and fill out the online application or contact form to initiate the loan process. For those who prefer face-to-face interaction, Credila also has physical branches across India, including major cities like Mumbai, Delhi, Bangalore, Pune, Hyderabad, Chennai, and others.
However, if you wish to avoid the hassle of physically visiting branches or navigating the application process on your own, you can choose to apply through VITTIYA. At VITTIYA, we make the process easier by helping you find the most suitable loan option based on your profile. Once you check your eligibility, our dedicated counselors take over—offering complete assistance throughout your education loan journey. From documentation to approval, we ensure that your loan experience is smooth, efficient, and completely online.
Benefits of Credila Education Loan through VITTIYA
Applying for a Credila education loan through VITTIYA ensures a smooth and efficient experience. We help you secure the most competitive loan offer, and if you find a better deal elsewhere, we cover the interest rate difference for the entire loan term. With a fast turnaround time of just 5–7 days (compared to 12–15 days when applying directly), our expert coordination significantly speeds up the process.
Our services are 100% free of cost, and we also improve your chances of approval by resolving any application issues directly with Credila. From start to finish, our dedicated loan counselors handle everything, making the entire process hassle-free for you.
The Vittiya Effect in Credila Education Loan
| Feature | With Vittiya | Without Vittiya |
|---|---|---|
| Personalized Document Checklist According to Profile & Area | Yes | No |
| Branch Visits | 1-2 | 7-8 |
| Pre-Visa Disbursements | Easy | Difficult |
Overview of Credila Education Loan
Credila, a leading NBFC in India, specializes in education loans for students aiming to study abroad. With loan coverage for over 5,000 institutions across 64 countries, Credila offers fully customized solutions based on your course, university, and destination country.
Their student-first approach ensures that each loan is tailored to meet your specific financial needs—making Credila a trusted choice for financing your international education through VITTIYA.
Overview of Credila Loan without Collateral
| Feature | Detail |
|---|---|
| Loan Amount |
Up to INR 1.5 Crores (Secured loan) Up to INR 75 Lakh (Unsecured loan) |
| Rate of Interest | 10.50% - 13% |
| Processing Fees | 0.75%-1.25% of the Sanctioned Amount |
| ProcessingTime | 4 - 5 Working Days after Document Verification |
| Margin Money | NIL |
| Moratorium Period | Course Duration + 12 Months |
| Repayment Tenure | 15 Years |
Income Tax Under Section 80e Benefits by Credila
Credila is the only NBFC in India that offers tax benefits under Section 80E on a 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.
Eligibility Criteria for Credila Unsecured Education Loan
Understanding the Credila education loan requirements is crucial for students and co-applicants before embarking on the application process. By familiarizing yourself with the Credila education loan eligibility criteria, you can streamline the application process, ensuring a smoother and more efficient journey toward securing a Credila education loan. Below are the Credila collateral free loan eligibility criteria –
- Nationality & Age: Indian citizen, 18 years or older with admission to a recognized university.
- Academics: Strong academic background with qualifying scores in GRE, IELTS, or TOEFL.
- Co-applicant: Mandatory, with a stable income and good credit history.
- Course & Country: Covers UG/PG/diploma/PhD courses in top countries like the USA, UK, Canada, Germany, and more.
Credila Education Loan for US
| Feature | GRE > = 310 | GRE 300 = < 310 | GRE 285 = < 299 |
|---|---|---|---|
| Rate of Interest | 11.25 - 11.75% | 11.75% - 12.5% | 12.5 - 13% |
| Loan Amount | Up to INR 75 Lakh | Up to INR 50 Lakh | Up to INR 40 Lakh |
| Co-applicant Minimum Income | INR 15K - INR 20K | INR 30K | INR 30K |
| Monthly Installments during the Course | Partial Simple Interest | Partial Simple Interest | Simple Interest |
| Processing Fee | 0.5 - 1% | 0.7 - 1% | 1% |
Credila Education Loans for Other Countries
| Feature | Australia / New Zealand | Canada | UK | Germany / Ireland / France / Italy |
|---|---|---|---|---|
| Rate of Interest | 12 - 13% | 11.75 - 12.5% | 12 - 13% | 12 - 12.75% |
| Loan Amount | INR 25 Lakh | INR 40 Lakh | INR 40 Lakh | INR 25 Lakh |
| Co-applicant Minimum Income | INR 60K | INR 35K | INR 35K | INR 35K |
| Monthly Installments during the Course | Simple Interest / EMI | Partial Simple Interest | Simple Interest / Partial Simple Interest | Simple Interest / Partial Interest |
| Processing Fee | 1% | 0.75 - 1% | 1 - 2% | 1 - 1.5% |
Documents Required for Credila Education Loan
VITTIYA provides a customized documents list for Credila non collateral loan, which depends on your profile, your co-applicant’s profile, and any property/asset you may offer as collateral.
Applicant’s Documents
- ID Proof: PAN, Passport, DL, Voter ID, etc.
- Address Proof: Utility bills, Aadhaar, etc.
- Passport & Admission Letter (conditional accepted)
- Statement of expenses
- Filled loan application form
Co-applicants Documents
- ID & Address Proof: Same as above
- Bank Statements (last 6 months)
If Salaried
- Salary slips (last 3 months)
- Form 16 (last 2 years)Form 16 (last 2 years)
- Asset & liability statement
If Self-Employed
- Business address proof
- IT returns (last 2 years), TDS (if any)
- Qualification certificate (for professionals)
- Asset & liability statement
- Bank statement (last 6 months)
Bank Education Loan EMI Calculator
When planning to finance your higher education through a bank education loan, using an EMI calculator can make a significant difference in your financial planning. VITTIYA offers a user-friendly education loan EMI calculator that helps you estimate your monthly repayments well in advance. By entering key details such as the total loan amount, interest rate, and repayment tenure, you can instantly view your expected EMI amount.
This tool empowers you to make informed decisions by adjusting the loan amount or tenure to suit your financial situation. It ensures that you select a repayment plan that aligns with your monthly budget, making your education loan journey more manageable and stress-free. Using the EMI calculator before applying for a loan gives you clarity and confidence, helping you plan better for your future expenses.
How to Apply for Credila Education Loans via VITTIYA?
If you’re planning to secure an education loan from Credila for studying abroad, you can apply directly through their official website. However, to make the process smoother and more convenient, you can opt to apply through VITTIYA.
VITTIYA is a dedicated platform that supports Indian students in accessing the best financing options for their international education. By choosing VITTIYA, you not only simplify the loan process but also receive expert guidance at every step. All you need to do is check your eligibility through our platform, and our team will take care of the rest—from documentation to final approval—ensuring a seamless and stress-free experience in securing your education loan.
How to Contact Credila for Education Loans?
To get in touch with Credila for any education loan-related queries, you can reach out through multiple channels such as email, their website, or by visiting a local branch. You can email their support team at support@credila.com with details about your profile, and they will guide you accordingly. Alternatively, you can visit Credila’s official website and fill out the online application or contact form to initiate the loan process. For those who prefer face-to-face interaction, Credila also has physical branches across India, including major cities like Mumbai, Delhi, Bangalore, Pune, Hyderabad, Chennai, and others.
However, if you wish to avoid the hassle of physically visiting branches or navigating the application process on your own, you can choose to apply through VITTIYA. At VITTIYA, we make the process easier by helping you find the most suitable loan option based on your profile. Once you check your eligibility, our dedicated counselors take over—offering complete assistance throughout your education loan journey. From documentation to approval, we ensure that your loan experience is smooth, efficient, and completely online.
Benefits of Credila Education Loan through VITTIYA
Applying for a Credila education loan through VITTIYA ensures a smooth and efficient experience. We help you secure the most competitive loan offer, and if you find a better deal elsewhere, we cover the interest rate difference for the entire loan term. With a fast turnaround time of just 5–7 days (compared to 12–15 days when applying directly), our expert coordination significantly speeds up the process.
Our services are 100% free of cost, and we also improve your chances of approval by resolving any application issues directly with Credila. From start to finish, our dedicated loan counselors handle everything, making the entire process hassle-free for you.
The Vittiya Effect in Credila Education Loan
| Feature | With Vittiya | Without Vittiya |
|---|---|---|
| Personalized Document Checklist According to Profile & Area | Yes | No |
| Branch Visits | 1-2 | 7-8 |
| Pre-Visa Disbursements | Easy | Difficult |
yOUR ANSWER
Frequently Asked Questions
Does Credila education loan cover 100% cost of education?
Yes, the Credila education loan covers a 100% cost of your education abroad.
What is the interest rate of the Credila education loan?
The interest rate varies from 10.25% – 12.75% depending on various factors.
What is the processing fee of the Credila education loan?
The processing fee of the Credila education loan is around 0.75%-1.25% of the loan amount.
How many days does it take to get the Credila loan approved?
The approval takes around 4-5 working days after documentation verification.
Is there any tax benefit on the interest paid on the Credila education loan?
Yes, one can avail tax benefits on interest paid on education loan under Sec 80-E of the Income Tax Act.
In the Credila education loan, do we have to pay during studies?
Yes, you will have to pay simple interest. For selected good profiles, a partial interest repayment option is available.
What is the Credila education loan without collateral interest rate?
The Credila education loan without collateral interest rate ranges from 11.75% – 12.75%