Credila Overseas Education Loan 2025 is designed to help you turn your dream of studying abroad into reality without the constant stress of finances. In 2024, India saw a record 1.3 million students pursuing education overseas, making it the second-largest source of international students globally, according to the Ministry of External Affairs data.
Known for student-friendly terms, Credila Overseas Education loan offers coverage for tuition, living expenses, and other costs, along with flexible repayment options that make funding simpler and less stressful.
This guide covers eligibility, documents required, application steps, repayment, and benefits of the Credila abroad education loan.
Credila Overseas Education Loan 2025 Key Highlights
Credila, India’s first NBFC for education loans, has funded 2.26 lakh+ students across 5,200+ universities in 64 countries. The table below provides an overview of its key features.
Compare Credila Vs SBI education loans to find the best option for funding your studies abroad.
Types of Credila Overseas Education Loans 2025
Credila offers tailored solutions that cater to different financial situations and borrowing needs. Understanding the type of loan you are applying for helps you plan repayment better and avoid financial strain during and after your studies.
Credila primarily provides two types of overseas education loans:
1. Credila Unsecured Education Loan Abroad
This loan does not require collateral and is ideal for students whose families may not have assets to pledge. It is designed for smaller loan amounts and relies on the co-applicant’s income and credit profile for approval. Interest rates begin at 11.25% per annum. Despite being unsecured, the loan still provides sufficient coverage for tuition, living expenses, and other related costs.
2. Credila Secured Education Loan Abroad
This loan requires collateral, such as property or fixed deposits, to secure a higher loan amount. It is suitable for students pursuing high-cost programs or studying in expensive countries. With this option, borrowers benefit from lower interest rates and higher funding limits, making it easier to manage comprehensive overseas expenses.
Learn more about the differences between secured and unsecured education loans to choose the best option for your overseas studies.
Get an Education Loan with Higher Chances of Approval.
Credila Loan Interest Rate and Tenure 2025
Credila provides both secured and unsecured education loans with competitive interest rates. Credila secured loan interest rates start from 9.95% per annum. The table below shows the interest rates and repayment tenure offered by Credila abroad education loan:
Overseas Education Loan NBFC Credila Eligibility Requirements
With tuition fees in countries like the U.S. and U.K. often crossing ₹30–50 lakhs per year, and living expenses adding another hefty amount, arranging proper financial support has become a necessity for most Indian students. To meet this rising demand, Credila has set clear eligibility rules covering UG, PG, diploma, and professional courses at recognised universities in India and abroad.
Here’s what you need to know to be eligible:
1. You must be an Indian citizen to apply for a Credila Overseas Education Loan.
2. Applicants should be at least 16 years old at the time of applying.
3. Credila supports all courses, from undergraduate to postgraduate and professional programs, including management, engineering, medicine, law, and vocational studies.
4. A co-applicant is mandatory. Typically, a parent or guardian acts as the co-applicant, and their income and credit profile are reviewed to determine loan eligibility and repayment capacity.
5.Students planning to pursue higher education in India or abroad are eligible. Whether your goal is to study in the U.S., U.K., Canada, Australia, or other countries, Credila provides funding options.
6. Applicants must have completed 12th grade for undergraduate courses or hold a relevant degree for postgraduate programs. Eligibility for the chosen course must be met as per the institution’s requirements.
7. Loans are available for all recognised universities and institutions.
By meeting these criteria, you can take a step closer to funding your education abroad with a loan tailored to your academic and financial needs.
Required Documents for Credila Overseas Education Loan 2025
Applying for a Credila Overseas Education Loan involves submitting a comprehensive set of documents to ensure a smooth and efficient loan processing experience.
Below is a list of key documents:
Student Documents
1. A duly filled and signed application form, which can be submitted digitally.
2. KYC Documents
Officially valid documents containing details of identity and address. Acceptable documents include:
- Identity Proof: Passport, Driving License, Voter’s ID, Aadhaar Card, or Job Card issued by NREGA.
- Address Proof: Passport, Driving License, Voter’s ID, Aadhaar Card, or Job Card issued by NREGA.
3. Academic Documents to verify academic qualifications:
- Undergraduate Applicants: Mark sheet and passing certificate of 12th grade or equivalent.
- Postgraduate Applicants: Mark sheet and degree certificate of the last completed semester/year.
- Entrance Exam Scores: GRE, GMAT, TOEFL, IELTS, or other relevant test scores, if applicable.
4. An official admission letter from the university or institution where the student has secured a place.
5. A detailed fee structure from the university, outlining tuition fees, accommodation, and other expenses.
Co-Applicant Documents
- KYC Documents:
- Identity Proof: Passport, Driving License, Voter’s ID, Aadhaar Card, or Job Card issued by NREGA.
- Address Proof: Passport, Driving License, Voter’s ID, Aadhaar Card, or Job Card issued by NREGA.
- Income Proof
Depending on the employment status of the co-applicant:
- Salaried Individuals:
- Latest 3 months' salary slips.
- The latest 6 months' bank statements of the salary account.
- Form 16 for the last 2 years.
- Self-Employed Individuals:
- Income Tax Returns (ITR) for the last 2 years.
- Audited balance sheets and profit & loss statements for the last 2 years.
- Bank statements for the last 6 months.
- Property Documents (For Secured Loans)
If the loan is secured against property, the following documents are required:
- Property title deed.
- Registered sale agreement
- Allotment letter from the municipal corporation or authorised government authority.
- Latest property tax receipt.
- Approved building plan.
Additional Documents
- Two recent passport-sized colour photographs of both the student and the co-applicant.
- If there is a gap in the student's education, a gap certificate explaining the reason may be required.
- If the student has received any scholarships or financial aid, the scholarship letter should be provided.
- A valid passport and visa, if already obtained.
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How to Apply for a Credila Overseas Education Loan in 2025?
Whether you're planning to study in the United States, Australia, Canada, or any other country, Credila offers tailored loan solutions to meet your needs.
Here’s a step-by-step application process:
1. Online Application Submission
Begin by visiting the Credila website and filling out the online application form. Ensure that you provide accurate personal, academic, and financial details. You'll also need to upload the necessary documents.
2. Application Review and Sanction
After submission, Credila's team will review your application and documents. Upon successful credit appraisal, you'll receive a sanction letter detailing the loan amount, interest rate, and repayment terms.
3. Loan Agreement and Disbursement
Once you accept the loan offer, you'll need to sign the loan agreement and provide any additional required documents. Credila will then initiate the disbursement process, transferring the loan amount to your designated account.
Learn how to master the education loan sanction process by exploring formats and requirements for a smooth approval.
Considering a Credila Student Loan for Ireland? Here’s What You Should Know!
Securing a student loan is often one of the biggest steps toward studying abroad, and many students turn to Credila for financing. While Credila offers competitive loans, it’s important to understand interest rates, fees, and visa acceptance before committing.
Reddit User shares:
"I got a Credila loan for ₹X with 12.75% interest and a 14-year tenure, but I’m unsure if it’s fair or accepted for Ireland visas."
Insight: Credila loans are generally recognised for student visas, but factors like interest rates, moratorium interest payments, and insurance costs can significantly impact your total repayment. Understanding these details beforehand helps in planning your finances better.
What do we infer from this case?
1. Interest rates may be negotiable; always compare with other lenders.
2. Credila is widely accepted for visa purposes, but check specific embassy requirements.
3. Factor in the moratorium interest and insurance to estimate the total loan cost.
4. Seek advice from peers or loan advisors who have experience with your target country.
Tip: Consider opting for a shorter loan tenure if possible, as this can reduce the total interest paid over time and help you become debt-free sooner after graduation.
For detailed guidance, check out our article on Education Loan for Ireland with insights on eligibility, interest rates, and the application process to understand how to secure funding for your studies in Ireland.
Credila Overseas Education Loan EMI Calculator
The Credila Overseas Education Loan EMI Calculator is a valuable tool designed to help you estimate your monthly loan repayments, enabling you to manage your finances effectively during your studies.
How the EMI Calculator Works
Credila's EMI Calculator provides a clear picture of your monthly financial commitment by allowing you to input the following details:
- Loan Amount: The total amount you wish to borrow.
- Interest Rate: The annual interest rate applicable to your loan.
- Loan Tenure: The duration over which you plan to repay the loan, typically ranging from 5 to 15 years.
Once you enter these details, the calculator instantly displays:
- Monthly EMI: The amount you need to pay each month.
- Total Interest Payable: The total interest you will pay over the loan tenure.
- Total Repayment Amount: The sum of the principal and interest over the entire loan period.
HDFC Credila Student Loan Features and Benefits
Credila Financial Services Limited, earlier known as HDFC Credila Financial Services Limited, offers a comprehensive, flexible, and transparent financial solution for students aspiring to pursue higher education.
1. Comprehensive Coverage for Academic Expenses
HDFC Credila’s education loans cover up to 100% of the tuition fees, living expenses, and other related costs, ensuring that students can focus on their studies without financial worries.
2. Flexible Repayment Options
Credila offers flexible repayment schedules, including options to pay interest during the course or opt for a moratorium period, allowing graduates to start repaying after securing employment.
3. No Collateral Required
You can apply for an unsecured (non-collateral) education loan, and if you meet the eligibility criteria, you may receive funding without providing any security.
4. Tax Benefits Under Section 80E
Interest paid on education loans is eligible for tax deductions under Section 80E of the Income Tax Act, reducing the overall financial burden.
5. Opportunity to Build Credit History
Timely repayment of the education loan helps in building a positive credit history, which is beneficial for future financial endeavours.
6. Transparent Charges
Credila ensures transparency by not imposing any hidden charges, providing students and their families with clear financial terms.
Credila Overseas Education Loan Contact Details
If you're looking to get in touch with Credila for inquiries or assistance, here are the key contact details:
- Toll-Free Number: 1800-209-3636
- Loan Application Email: loan@credila.com
Credila has a network of branches across India. To find the nearest branch, visit https://www.credila.com/locate-credila.
Securing a Credila Overseas Education Loan 2025 can make studying abroad financially feasible without the stress of upfront costs. With flexible repayment options and competitive interest rates starting from 9.95% p.a., students can achieve their global education goals. Planning ahead, understanding country-specific requirements, and having your documents ready can ensure a smooth loan process and let you focus fully on your academic journey.
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