GoStudy Partnered HDFC Credila Overseas Education Loan Without Collateral

GoStudy is India’s leading education loan provider offering comprehensive HDFC Credila overseas education loan for students.

HDFC Credila education loan without collateral through GoStudy can make education seamless for you. Not just academic expenses but their living and other expenses are also covered up to 100% by HDFC Credila loans through GoStudy. The repayment tenure is enough, and it is very easy to obtain an overseas education loan with GoStudy. With multiple offices in Mumbai, Hyderabad, Chennai, Bangalore, GoStudy consultants are always there for your aid.


9

Reasons to Opt for HDFC Credila Education Loans through GoStudy

1

Matching Students' needs

With HDFC Credila loans through GoStudy, education loans are personalized as per students’ needs. HDFC Credila funding is easy and lightning fast.

2

The specialized lender for education loans

From the education to the credit scoring model; everything is designed specifically for overseas education loans through GoStudy.

3

Benefits for parents

There is flexibility on collateral, 100% of education expenses are covered, and there is no margin involved in HDFC Credila loans through GoStudy.

4

One-on-One Services

HDFC Credila through GoStudy offers complete one on one personalized services where everything is done online to prevent any hassles.

5

Customized Loans

HDFC Credila through GoStudy have designed customized education loans for Indian students according to their respective courses.

6

100% Satisfaction

Customers are 100% satisfied with the loan process, ease, and services for HDFC Credila education loan for abroad without security through GoStudy.

7

Comprehensive Education Loans

GoStudy brings you a host of impressive and popular HDFC Credila education loans without collateral through GoStudy specially curated for you.

8

Loan Processing At a Blazing Speed

GoStudy has the fastest loan processing times of all since we process 1000s of loans monthly, and our partner credit managers assist you with every intricate loan detail.

9

Lowest Interest Rates In The Market

With GoStudy, you get access to the lowest interest rates, which are usually 0.5% - 1% lower than the market rates!


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HDFC Credila Overseas Education Loan Without Collateral Through GoStudy

Now the cost of education has gone up; there is an abundance of courses and top universities throughout the world. Those who wish to achieve big also wish to start big, and studying in one of the top universities is one step closer to your dreams. Earlier it might be difficult due to the lengthy education loan process, limited lenders, and insufficient loan amounts; now, the scenario has changed, and getting abroad study loans is as simple as snapping your figure. If you wish to study abroad and are looking forward to availing a loan, then HDFC Credila unsecured education loan through GoStudy is what you must look into.

There are many perks of availing education loans with GoStudy, such as them funding 100% cost of your education and making sure that you do not face financial worries when you are far away from home. They also have tax benefits for the co-applicant. HDFC Credila though GoStudy is an education loan provider expert, ensuring that even your complex requirements are addressed properly. The best part is convenience. When it comes to HDFC Credila's non collateral education loan through GoStudy security, it is also flexible, and you get various repayment options to clear your debt on time. You can apply online for a loan, and it will take just five minutes to complete the formalities. Once you are associated with GoStudy, you do not have to worry about your education expenses anymore.

HDFC Credila Education Loan Without Collateral
HDFC Credila Education Loan Without Collateral

HDFC Credila Rate of Interest Without Collateral Through GoStudy

HDFC Credila's rate of interest through GoStudy is calculated using the simple interest rate formula. The rate of interest is the floating rate of interest that is linked to the CBRL-Credila's Benchmark Lending rate. The floating rate of interest is calculated.

HDFC Credila’s CBLR + Spread percentage per year

Type of Education Loan

HDFC Credila Education Loan Rate of Interest As Per Market

HDFC Credila Education Loan Rate of Interest Through GoStudy

Secured Education Loan (USA) 9.5% 9.25%
Unsecured Education Loan (USA) 10.25% 10.00%
Secured Education Loan (Others) 9.5% 9.25%
Unsecured Education Loan (Others) 11.75% 11.00%

Every risk profile of the student is Spread determined, which varies depending upon several factors like employability of the course selected, academic background of the student, country of study, loan repayment capability, financial stability of the co-borrower, serviceability, credit history, collateral or without collateral, costs associated with servicing and underwriting the loan, etc. Check with your GoStudy experts for more details.

What Are The Costs Covered by HDFC Credila Education Loan through GoStudy?

When it comes to covering expenses, GoStudy powered HDFC Credila covers it all. It not only supports your child’s education but other expenses too. The bank covers up to a hundred percent of expenses like examination fees, hostel expenses, laboratory/library expenses, traveling, uniforms, purchase of laptops, purchase of books, and everything else a student needs to be covered under the umbrella of a GoStudy education loan. The minimum HDFC Credila education loan without security through GoStudy amount a student can take is 1,00,000 and the maximum loan amount has no limit. This is something you will discuss with the bank representative as there are underwriting norms and credit lie considerations applicable. HDFC Credila through GoStudy provides funding solutions in:

  • Dubai
  • Ireland
  • United Kingdom
  • United States
  • Germany
  • France
  • Netherlands
  • New Zealand
  • Australia
  • Canada

These are some of the most popular education destinations for Indian students, and thankfully there is an option of HDFC Credila education loan without collateral through GoStudy for these countries. The cost of education varies depending upon the country, duration, living in the country, and course students choose but not to worry as GoStudy powered HDFC Credila loan plans are customizable. GoStudy has customized solutions according to the country. The Education loan specialist has already served thousands of Indian students. The students have been admitted to more than thousands of different institutes, hundreds of courses, and cross 35-plus countries. When it comes to reasonability and reliability, you can trust GoStudy!

Following are the lists of the Costs Covered by HDFC Credila Education Loan Without Collateral through GoStudy:

Things covered under HDFC Credila Education Loan through GoStudy

Costs Covered by HDFC Credila Education Loan through GoStudy

Tuition Fees 0 - 65 Lakhs (Approx)
Living Cost 6 Lakhs - 15 Lakhs (Approx)
Travel Expenses 20,000 - 40,000 Rupees (Approx)
Others (Books/Uniforms/Computers) 80,000 - 1,50,000 Rupees (Approx)

HDFC Credila Education loan without security through GoStudy

The good news is, yes, HDFC Credila unsecured education loan through GoStudy is easily accessible to the students of India. You just need to get in touch with the counselors who will guide you about a loan without security. Once you prepare your application. HDFC Credila unsecured education loan through GoStudy extends up to crore rupees study loan to eligible students and parents. Here are the requirement details

  • Both borrowers and co-applicants must be a citizen of India
  • Students must have a bank account in India
  • The bank must have cheque writing facility
  • Before disbursement, students must have confirmed admission to their desired college
  • Students and co-applicant must meet credit and underwriting norms

Another most important eligibility criterion that needs to be fulfilled is of the co-applicant for the HDFC Credila education loan abroad without collateral through GoStudy

  • To get your abroad education loan, one must have a co-applicant who is based in India
  • Co-applicant can be Mother, father/sister, brother/spouse, or blood relative whose income is eligible
  • Co-applicant must provide proof of relationship with a student
  • Co-applicant accountability is coextensive with the student

These are the requirements you have to fulfill with HDFC Credila through GoStudy in case you are applying for an HDFC Credila education loan abroad without security through GoStudy. With collateral, students are going to get a rebate on their rate of interest.

HDFC Credila Education loan with collateral through GoStudy

There is an option of an education loan with security which is applicable if there are risks involved with credit. Students are pursuing their education which means there is no idea of their future income. Hence security is required. This process is simple and depends upon the interest of parents and students. A loan with security helps with a better rate of interest. There are two types of collateral accepted by HDFC Credila, which are moveable collateral like fixed deposits and immovable collateral like shops, bungalows, houses, or flats. HDFC offers HDFC Credila education loans for abroad without security through GoStudy for about twenty lakh for commendable students. Lenders accept every property type with proper documentation and a clean title.

HDFC Credila Education Loan Without Collateral Abroad University List through GoStudy

Many popular universities are supported by GoStudy & HDFC Credila. With the aid of HDFC Credila education loans without collateral through GoStudy, students can study in Spain, Dubai, the UK, and many others. The colleges and universities listed are based on the demands of the Indian students. The lenders follow a robust process to make sure only top universities are listed. You will find the University of your Choice in the list of top universities for abroad studies below.

List of Universities accepted by HDFC Credila Education Loan through GoStudy

Pre Approved Education Loan amount by HDFC Credila through GoStudy

Syracuse University 60 Lakhs
George Washington University 65 Lakhs
New Jersey Institute of Technology 65 Lakhs
University of Florida 65 Lakhs

HDFC Credila supports funding in Germany, one of the most popular student destinations. For international students, there are many popular universities. Germany has the 3rd largest international student count all over the world. In Germany, there are some of the best universities to start your career's foundation. HDFC Credila supports different courses, diplomas, and degrees, ensuring every student gets a chance to pursue their favorite courses in their desired university. Make sure to tell your university details when you apply for the HDFC Credila education loan without collateral through GoStudy. Experts will have their fruitful suggestions for all as they have already established thousands of Indian students in their desired universities.


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Eligibility Criteria for HDFC Credila Education Loan Without Collateral through GoStudy

To get admission to your desired university abroad, you must follow the eligibility criteria. If you need to borrow from GoStudy powered HDFC Credila, then you must be an Indian citizen. You will need a co-applicant who must also be an Indian citizen. You will need a bank account, and the requirements are similar to the eligibility for an HDFC Credila education loan abroad without collateral through GoStudy. There are other requirements as well, such as

  • Your academic background checked
  • Which university do you need to apply to and which course
  • If you are offering collateral or not
  • In case you are offering collateral, then which type
  • Is there a co-guarantor available in your profile
  • Sometimes, the quality of the institution to a student is applying to is also checked
  • The ability of the student to get a job after the course is complete
  • Sometimes credit history of the co-applicant is also checked
  • If there is collateral, then the quality of the property, like value, also plays an important role in terms of eligibility.

There are no specific universities or courses as a majority are covered with HDFC Credila education loan without collateral through GoStudy. The reputation of the institution is certainly going to make a difference.

Process & Procedure for HDFC Credila Education Loan Without Collateral through GoStudy

The best thing about GoStudy is that it has a student-friendly application process to approve a loan. First of all, students need to complete an online application form or you can directly walk-in to our GoStudy office near you and talk to the loan officers. He is going to guide you and will collect the required obligatory documents. The credit team is going to review the application. A disbursement formality is completed when the application is approved by signing the loan agreement HDFC Credila non collateral education loan through GoStudy. The loan amount is deposited in the mentioned bank account. To complete the process and procedure for the agreement, students and co-applicants must have their documents prepared

  • You must download the application form on your device
  • There are 2 passport size photographs required of the student
  • Photo ID is a must which can be Passport, Voter Card PAN and Adhar
  • Academic documents like the 12th exam certificate
  • Entrance exam mark sheet
  • Scholarship documents
  • Proof of your admission in printed form
  • Bank statements for the last six months of the co-applicant
  • Co-applicant income proof
  • Co-applicant's two-year income tax return copy

In the case of HDFC Credila non collateral education loan through GoStudy, there are no documents required, but if you are applying for secured loans, then you need to provide certain documents like

  • Deed of property title
  • Latest maintenance slip
  • Original receipt of the property agreement
  • NOC for a mortgage from a builder or society
  • Property tax receipt latest
  • Approved building plan

Make sure to prepare all the documents before you fill out the online application form. Once you have collected all the documents, you can hand them over to the GoStudy consultant & your HDFC Credila Representative.

HDFC Credila Education Loan Without Collateral Sanction & Disbursement through GoStudy

If there is any origination fee, then clear the amount to get your sanction letter. According to the experts it is advised to pay the fee in a cheque form from a similar account to which ECS is to be delivered. This will help the lenders to prepare the ESC form.

Decide a date : Decide the date of collecting your disbursement from HDFC Credila through GoStudy. The lenders need an exact date to deliver the disbursement letter. The date is set according to the student’s visa or the fee payment last date.

Decide a Disbursement amount : Then you will need to decide the amount of disbursement. An exact amount needs to be set, which is going to be the first tranche to be disbursed by HDFC Credila through GoStudy. This amount will also include the living expenses.

Disbursement details : Then all the disbursement details need consideration. These details will include how the fee is going to be remitted to the college. Your banking details and payment method like demand draft or electronically. These details are available on the university website or admission package set by your university.

Prepare the documents : Prepare all the final documents and get an electronic clearing system from your bank. After collecting all the details, a final agreement is made. If available, this document will need a sign from the student, co-applicant, and even the guarantor. All these people need to be present in the same city to sign the documents. In case of mismanagement, your loan application will be delayed.

Prepare the ECS : Provide final documents (original) to GoStudy. After all the documentation and signing, a final document is prepared. Three copies of ECS are required which is mandatory. These copies will be signed and stamped from your bank where all the monthly payments will be transferred by HDFC Credila. One copy is given to the bank manager, who will be kept as a record. This process is only completed once the disbursement date is finalized. When you will visit HDFC Credila to sign the final agreement you will need to bring the following documents

  • Original KYC document of guarantor, co-applicant, and student. This can be Aadhar Card, pan Card, Passport, etc. this will clear your identity in the office
  • Two ECS copies were signed and amped from the bank
  • Cheque in the name of HDFC Credila as security from your bank
  • If a fixed deposit is being provided as collateral then an original receipt is required
  • If the tuition fee has already been provided, then a paid receipt must be provided
  • If the collateral is in the form of a house, flat, land, etc., then bring original documents of the property

Final agreement : When you hand over all the documents, a final agreement is signed and the amount is transferred to the bank account.

Get the money : The university fee is transferred to their bank account, or a demand draft is sent per the information in the application form. Other expenses are directly transferred to the student's bank account for travel and accommodation, like personal expenses.


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Moratorium period for HDFC Credila Education Loan Without Collateral through GoStudy

The moratorium period of HDFC Credila through GoStudy is 6-12 months. If the interest amount is paid during the course and moratorium period, then EMI is principal only. If the interest is not being paid, EMI is based on the debt amount, including the accumulated interest of the HDFC Credila education loan without collateral through GoStudy. The duration to repay the education loan amount is up to 12 years.

HDFC Credila Education Loan Repayment Without Collateral through GoStudy

When the first installment of the disbursement is paid, then the repayment begins.

Tenure is a period of study + after study grace time + repayment period.

With the GoStudy, students are going to get 12 years to repay the HDFC Credila unsecured education loan through GoStudy amount. There are several other factors on which repayment depends, like the co-applicant age, course prospect, repayment capacity of the borrower, etc. lenders make sure that repayments suit the lenders. The majority of the borrowers can pay their debts on time.

HDFC Credila Education Loan Without Collateral EMI Exemption under Section 80E of ITS Act through GoStudy

An education loan is not just for funding but is also helpful in saving on taxes. As per section 80E, interest can be claimed as deductions. For this, you must take HDFC Credila non collateral education loans through GoStudy only from sanctioned banks in India.

  • Only interest is deducted and not the principal amount under the 80E act
  • Your taxable income is also accountable, and there is no upper limit set when it comes to deductions
  • One can take tax benefits if a loan is to support higher studies of a spouse, self, or children of any legal guardian student.

In India, getting an HDFC Credila education loan without collateral through GoStudy is an easy way to fund your education abroad and lower the interest rate if you are eligible under section 80E. This information is provided for basic understanding/ to make sure you get the right tax benefits, you must clear your doubts when you meet your GoStudy Education Loan experts.


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