Credila
Education Loan
For Studying Abroad
Free Education Loan Assistance From Collegepond!
Interest Rate
Starting from 9.75%
Loan Amount
1 Crore
Processing Fees
up to 0.5% + GST
Credila Education Loan
For Studying Abroad
Get Free Education Loan Assistance From Collegepond!
- Interest Rate Starting from 9.75%
- Loan Amount 1 CR
- Processing Fees up to 0.5% + GST*
How it Works?
Simple 4 Step Process to Obtain an Education Loan via Collegepond!
Verify Your Education
Loan Eligibility
Use our free tool to check your eligibility and access conditional loan options instantly.
Connect with our
Education Loan Advisors
Consult our dedicated loan advisors for personalized guidance and process insights.
Share Documents and
Complete the Application
Submit your documents and fill out the required forms for bank verification and review.
Secure the Best
Education Loan Offer
Our experts negotiate for you to secure the lowest interest rates and maximum loan amount.
Education Loan Approval
and Fund Disbursement
Receive the sanction letter and enjoy hassle-free disbursement of funds from the lender.
Connect with Our Education Loan Advisors
Consult our dedicated loan advisors for personalized guidance and process insights.
Share Documents and Complete the Application
Submit your documents and fill out the required forms for bank verification and review.
Secure the Best
Education Loan Offer
Our experts negotiate for you to secure the lowest interest rates and maximum loan amount.
Education Loan Approval and Fund Disbursement
Receive the sanction letter and enjoy hassle-free disbursement of funds from the lender.
Why Choose Credila for Education Loan?
All You Need to Know about Credila Financial Services
Table of Contents
About Credila
Key USPs
- Comprehensive Coverage: Offers up to 100% financing, covering both tuition fees and living expenses.
- High-Value Loans Without Collateral: Provides unsecured loans up to INR 90 lakhs.
- Flexible Repayment Options: Repayment tenure extends up to 15 years, ensuring manageable EMIs.
- Pre-Admission Loan Sanction: Facilitates loan approval even before admission confirmation.
- Tax Benefits: Borrowers can avail attractive tax deductions under Section 80E of the Income Tax Act.
Required Documents
- Completed Application Form: Fully filled and signed by the applicant.
- Photographs: Two passport-sized photos each of the applicant and co-applicant.
- Photo ID Proof: PAN Card, Passport, Driving License, Aadhaar Card, or Voter ID for both applicant and co-applicant.
- Residence Proof: Passport, Driving License, Aadhaar Card, or Voter ID for both applicant and co-applicant.
- Academic Records: Mark sheets and certificates from 12th grade onwards, including entrance exam scores if applicable.
- Proof of Admission: Admission letter from the institute, if available.
- Bank Statements: Last 8 months’ statements of the co-applicant.
- Income Proof of Co-Applicant:
- Salaried Individuals: Latest 3 salary slips, last 2 years’ Form 16 or IT returns.
- Self-Employed Individuals: Last 2 years’ IT returns, certified financial statements, and proof of office.
- Collateral Documents: If offering collateral, relevant property documents are required.
Credila Education Loan Products
Types of Education Loans Offered:
- Secured Education Loan
- Loan Amount: Up to ₹1 Crore, depending on the collateral value.
- Suitable for: Students willing to pledge property or other securities.
- Unsecured Education Loan for the US
- Loan Amount: Up to ₹70-80 Lakhs, depending on university ranking.
- No collateral required.
- Unsecured Education Loan for Non-US Countries
- Loan Amount: Up to ₹50 Lakhs.
- No collateral required.
| S.No | Scheme | Details |
| 1 | Secured Education Loan | Loan amount up to ₹1.5 Crore, based on collateral value. |
| Standard requirement: ₹75-80 Lakhs collateral for a ₹1 Crore loan. | ||
| 2 | Unsecured Education Loan for US | Loan amount up to ₹80 Lakhs without collateral. |
| Via Collegepond: Loan amounts can go up to ₹1 Crore for top-ranked universities. | ||
| 3 | Unsecured Education Loan for Non-US | Loan amount up to ₹40 Lakhs without collateral for major study destinations. |
| Via Collegepond: Loan amounts can go up to ₹50 Lakhs, and up to ₹60 Lakhs for highly ranked universities. | ||
| 4 | Rate of Interest | Secured Loan: Standard rate of 10.25%; via Collegepond, it can be reduced to 9.75%. |
| Unsecured Loan for Non-US: Standard rate of 12%; via Collegepond, it can be reduced to 11% for well-qualified candidates. | ||
| 5 | Processing Fee | Typically 1%-1.25% of the loan amount. |
| Via Collegepond: Reduced to 0.5% for strong applicant profiles. | ||
| 6 | Acceptable Programs & Countries | Unsecured loans are available primarily for Post-Graduation & Master’s programs. |
| 7 | Repayment Tenure | Standard Moratorium Period: Course duration + 1 year. |
| For Germany: Extended moratorium of Course duration + 2 years. |
Application Process via Collegepond
While specific details about applying through Collegepond are not provided in the available sources, the general application process with Credila involves:
- Connect with Our Education Loan Advisors: Consult our dedicated loan advisors for personalized guidance and process insights.
- Share Documents and Complete the Application: Submit your documents and fill out the required forms for bank verification
Secure the Best Education Loan Offer: Our experts negotiate for you to secure the lowest interest rates and maximum loan amount.
- Education Loan Approval and Fund Disbursement: Receive the sanction letter and enjoy hassle-free disbursement of funds from the lender.
Eligibility Criteria
- Applicant: Must be an Indian citizen with confirmed admission to a recognized institution in India or abroad.
- Co-Applicant: A parent, guardian, or spouse with a stable income source.
- Admission Status: Confirmed admission in the intended course and institution is required before disbursement.
- Academic Record: A consistent academic record enhances loan approval prospects.
- Collateral: Depending on the loan amount and assessment, collateral may be required.
Loan Disbursement Process:
- Origination / Processing Fee Payment: Settle any remaining origination fees to obtain the original sanction letter.
- Disbursement Planning: Determine the disbursement date and amount based on tuition payment schedules and personal requirements.
- Documentation: Complete and sign the loan agreement, provide Electronic Clearing System (ECS) mandates, and submit any collateral documents if applicable.
- Fund Transfer: Credila disburses the loan amount directly to the educational institution or as specified, in Indian Rupees.
Loan Processing Charges:
Specific details about processing fees are not provided in the available sources. It’s advisable to contact Collegepond directly to avail discounts of upto 0.5% on the Processing Fee.
Partial Simple Interest
Credila follows a Partial Simple Interest (PSI) model during the moratorium period, which means that students are required to pay only a partial interest amount while studying, rather than the full EMI. This significantly reduces the financial burden during the course period, ensuring that students can focus on their education without worrying about heavy loan repayments. Once the moratorium period ends, the loan shifts to full EMI mode, including both principal and interest payments. Applying through Collegepond can also help you negotiate a lower PSI amount and secure better repayment terms.
Income Tax Benefits under Section 80E
Borrowers are eligible for tax deductions on the interest paid on education loans under Section 80E of the Income Tax Act. This benefit is available for a maximum of 8 years or until the interest is fully repaid, whichever is earlier.
For personalized assistance and detailed information, it’s recommended to reach out directly to Collegepond for guidance on the application process.
Our Expertise at Collegepond
At Collegepond, we go beyond just guiding students—we ensure a seamless education loan experience by leveraging our expertise and strong partnerships with lenders like Credila. Our comprehensive support helps students secure the best loan terms with minimal hassle.
Why Choose Collegepond for Your Education Loan?
Personalized Loan Advisory: Our experts assist you in selecting the most suitable lender and navigating the loan sanctioning process efficiently.
✅ End-to-End Assistance: From application to disbursement and even repayment, we ensure a smooth, hassle-free journey—even after you receive the Credila loan sanction letter.
✅ Fast-Track Processing:
- Unsecured Loans: Sanctioned within 3 days.
- Secured Loans: Typically processed within 10-14 days.
✅ Exclusive Interest Rate Discounts: We help you negotiate competitive interest rates, often securing an additional discount of 0.5-2%.
✅ 100% Digital Process: No need for multiple bank visits! Our digitized loan application process ensures quick approvals from the comfort of your home.
With Collegepond’s expertise, you don’t just get a loan—you get the best financial solution to fund your global education dreams.
Choose from the Best Loan Partners
Testimonials
I’m extremely grateful to Collegepond for securing the right education loan for my study abroad journey. The entire process was seamless, with no documentation hassles. Their dedicated support and expert guidance ensured everything went smoothly. I highly recommend Collegepond for stress-free financial assistance. Thank you once again!
Collegepond provided exceptional support in my study abroad journey, making my MS application process seamless. Their professionalism and prompt responses addressed all my concerns. Special thanks to Sai Teja from the finance team for his invaluable guidance in securing my education loan. I highly recommend Collegepond for reliable education loan and higher education assistance!
I highly recommend Collegepond to anyone pursuing study abroad opportunities. Their expertise and dedication were evident throughout my journey. Kavita’s assistance made my education loan process seamless, while Harshali’s mock interviews boosted my confidence. Their personalized guidance eased the process, making my dream a reality. Truly grateful for their exceptional support!
I had an amazing experience with Collegepond in Mumbai during my study abroad journey, especially with Ms. Zainab Qureshi. Her dedication and professionalism made my loan process seamless. She provided constant support, detailed guidance, and proactive follow-ups. I highly recommend Collegepond and Ms. Zainab for reliable and efficient loan consultancy services!
I had a wonderful experience with Collegepond during my study abroad journey, especially with Mukesh, who provided exceptional education loan support. He explained everything clearly and resolved issues promptly. His dedication ensured a smooth process. I highly recommend Mukesh and Collegepond for reliable and professional financial guidance!
Thanks to Collegepond, my son can now pursue his study abroad dream—his Master's in IT and Analytics at Rutgers Newark. After months of PSU bank delays, Collegepond secured his education loan within a month. Their seamless process, expert guidance, and quick approvals made all the difference. Truly grateful for their exceptional support! Testimonial by Aditya’s Father
I highly recommend Collegepond for study abroad and education loan support. Their expertise made my journey seamless. Kavita ensured a hassle-free loan process, while Harshali’s mock interviews boosted my confidence. Their personalized guidance eased every step, making my dream a reality. Truly grateful for collegepond education loan teams exceptional support!
Collegepond Loan Services are ideal for study abroad aspirants seeking an education loan. Their network offers great rates and seamless processing. The team’s guidance made my loan journey smooth, and their quick FOREX services impressed me. Highly recommend Collegepond for hassle-free financial support. Truly grateful for their support!
FAQ's
What is the interest rate for Credila education loan?
The interest rate varies based on the loan type:
- Secured loans: Starting from 9.75% (via Collegepond).
- Unsecured loans: Standard rate 12%, which can be reduced to 11.25% for top-tier applicants.
Does Credila offer special interest rate discounts?
Yes, students applying through Collegepond can avail of interest rate discounts of 0.5%-2%, depending on their academic and financial profile.
Can I get an education loan from Credila without collateral?
Yes, unsecured education loans are available for students pursuing higher education, with loan amounts up to ₹1 Crore for the US and ₹50 Lakhs for other countries.
What is the maximum loan amount offered by Credila for education loans?
Credila offers secured education loans up to ₹1.5 Crore and unsecured education loans up to ₹50-80 Lakhs, depending on the applicant’s profile and university ranking.
What is the repayment tenure for Credila education loan?
The loan repayment tenure includes a moratorium period (course duration + 1 year), and for students in Germany, the moratorium is extended to course duration + 2 years.
What documents are required for an Credila education loan?
Applicants need to provide:
- KYC documents (Aadhar, PAN, Passport, Visa, etc.)
- Academic records (Admission letter, GRE/GMAT/TOEFL/IELTS scores, etc.)
- Financial documents (Income proof, ITR, bank statements, property documents for secured loans, etc.)
How long does it take for Credila to process an education loan?
- Unsecured loans: 3 days
- Secured loans: 10-14 days
Can I apply for an Credila education loan before securing university admission?
What are the loan processing charges for Credila education loan?
Is there an option for partial or full loan prepayment with Credila?
How is the loan amount disbursed by Credila?
Can I get an education loan for undergraduate studies from Credila?
What are the tax benefits on Credila education loan under Section 80E?
Can NRIs apply for an education loan with Credila?
Yes, NRI co-applicants are allowed for Credila education loan, making it easier for students with international family support.
