HDFC Credila

About HDFC Credila

Vision: Transform lives and contribute towards the nation building!

Mission: Empower aspiring students to actualize their dreams of higher education!

HDFC Credila Financial Services Limited (Formerly known as HDFC Credila Financial Services Private Limited) pioneered the concept of a specialist Education Loan lender and became India’s first dedicated education loan company. HDFC Credila’s brand purpose is to contribute towards transforming lives and building the nation!

With a specialized focus and in-depth understanding of the requirements of students who wish to pursue higher education, HDFC Credila offers customized education loans, home-delivered! With growing costs of education, the expenditure on children’s education is one of the highest expenditure components by an average Indian household. Over the past seven years, HDFC Credila has invested time and resources to set up appropriate systems, processes, and know-how related to the education industry and has numerous databases on the education sector and credit scoring model for loan approvals, explicitly designed for students.

Students: Don’t Downsize Your Dreams!

HDFC Credila funds students for higher education in both India and overseas. Students can get their education loan pre-approved even before they start applying to Universities. The institute from where the student completes the education remains with his/her name for a lifetime! With education loan approval even before the admission process, HDFC Credila enables numerous students to pursue higher education in their dream institute! Thus, students don’t have to downsize their dreams!

Customized Education Loans, Home Delivered!

  • No margin money required
  • Up to 100% finance
  • Tax benefit under Sec 80E
  • Attractive rate of Interest
  • No upper limit on loan amount
  • Long term loans resulting in easy EMIs
  • Flexibility in collateral security requirements
  • Loan against property mortgaged with HDFC

HDFC Credila has funded tens of thousands of students from India to over 2100+ unique educational institutes across 35+ countries!

Education Loan Details

HDFC Credila understands the education and admission process in India and various countries across the world. Based on our extensive research, HDFC Credila offers tailor-made solutions to provide unmatchable features and service standards.

Unlike banks that typically charge a fixed rate for a specific category of students, HDFC Credila has a range of rates depending on the institute, co-borrower details, collateral security offered, and the student’s academic background. HDFC Credila provides customized education loans, home-delivered!

Education Loan Features HDFC Credila Others
Up to 100% finance
Doorstep service
Loan amount over Rs.20 lakhs also available
Repayment tenure up to 10 years (Easy EMIs)
Less than 100% collateral
Co-borrower flexibility
Loan against property mortgaged with HDFC Ltd.
Loan Sanction before admissions also
Attractive rate of interest
Tax benefit under Section 80-E of Income tax Act
Quick and hassle free process

HDFC Credila has specialised products for various countries like the USA, Canada, Germany, etc. We understand that students going to countries like Germany require 60-70% of their education loan to be disbursed before the visa process. While Indian banks do not give out these loans before visa, HDFC Credila has provided a solution to this too.

Also, HDFC Credila’s unique offering of education loan sanction before admission has helped many students show ‘proof of funds’ to the Universities and gain admission to the University of their choice.

Hence, with an in-depth understanding of the students needs to pursue higher education, HDFC Credila has become the preferred education loan provided of thousands of students, studying in 2100+ Institutes, across 35+ countries!

HDFC Credila has become the preferred education loan provided of thousands of students, studying in 2100+ Institutes, across 35+ countries!


HDFC Credila Financial Services Limited (Formerly known as HDFC Credila Financial Services Private Limited), a Non banking Finance

Company, is an HDFC Ltd subsidiary company.

HDFC Credila is a specialized lender for student loans and offers education loans for:

  • Studies Overseas
  • Studies in India

When should I pay the Application Fee?

Application fees are payable before its submission. This is a non-refundable cost that all institutions require prior to evaluating their applicants. Kindly make sure to pay on or before the appointed date, as failure to do so forfeits your application automatically.

Do I have to pay MSM UNIFY separately for processing my application?

No. All the fees collected from applicants are forwarded directly to the institution’s admissions department for processing. We provide our quality assistance at no cost. All remunerations we obtain are from our partnerships with institutions.

My student visa/permit was rejected. Can I still refund my application fee?

All application fees are non-refundable. This rule applies to all applicants whether their visa/study permit applications are approved or not.

I am yet to complete my current studies. Can I already process my applications?

Yes. You can apply for a bachelor’s program even if you have yet to graduate from high school (or grade 12), particularly if you are about to complete it soon. This allows you to jumpstart your higher education journey without any downtime in between your academic years.

Am I automatically eligible to apply if I am currently finishing my Grade 12/Senior High School program?

Yes. But please take note that the institutions will require you to present proof of your eligibility to graduate. This is mandatory for all applicants, especially if you are planning to study abroad.

What documents do I need to submit when applying for an undergraduate program?

You must have already completed or be eligible for completing the high school program. You will be required to present a transcript of all your grades from grades 9-12. For students coming from a non-English speaking country, a certificate of their English proficiency test is also mandatory. It will also be favorable on your part to have a valid passport.

What documents do I need to submit when applying for a post-graduate program?

To be eligible for post-graduate programs, you should present proof of completion for an undergraduate program. This includes submitting a diploma and/or any supporting documents as proof.

  • Master’s programs – Applicants must present a diploma and/or certificate that they have already completed a four-year bachelor’s degree program. Depending on the specific programs applied for or the institution, you may also be asked to submit recommendation letters, resumes, essays, and a statement of purpose.
  • Post-graduate certificate programs – Applicants must present a certificate and/or diploma of their completion of a three-year undergraduate program or an undergraduate diploma.

Note: In some cases, the institution may require you to complete an Educational Credential Assessment (ECA) to determine equivalency of your studies. Along with these certifications, applicants also have to present a copy of their valid passport.

Students from non-English speaking countries will be required to present an English proficiency test as part of their application. In Germany, students who will take programs taught in German, they are also required to submit any of the following: TestDAF, KCSE certificate from KNEC, or A1 certificate from the Goethe Institute.

Can I apply for a post-graduate program if I am currently a post-secondary student?

Yes, especially if you are planning to further your education after completing your current program. If you are currently a graduating student, you may find it more advantageous to apply early. To do so, you need to present a copy of the latest transcript of your grades since the first level of your post-secondary program.

Can I get a comprehensive list of requirements for my desired program?

MSM UNIFY has made it easier and simpler for students to search for programs that suit their interests. Our AI-powered marketplace makes it easy for you to find schools and programs along with requirement details. To get started, simply take our Eligibility Test to help you assess your qualifications against your chosen programs and institutions.

Who will be in charge of processing my documents and application fee?

Our vetted team of admission executives will forward your applications to your preferred institutions. They will check if you have any additional paperwork to submit and process. From here on, they will be responsible for following up and processing your application for you.

Will the Acceptance Letter be sent to me directly?

MSM UNIFY will be the one to forward the Acceptance Letter to you after it has been released by our partner institution. We will notify you immediately, and provide valuable assistance in processing your visa application.

What is a Financial Proof?

This document proves that you are financially capable of pursuing your studies abroad, which includes the following expenses: Tuition, Living Expenses, and Return Transportation. The specific amount may vary, depending on your country of choice. To verify, please coordinate with the admissions executive of your preferred institution.

Is it possible to waive the Financial Proof?

No. All institutions require this as proof that you have the financial means needed to sustain your studies abroad.

How much is the Application Fee?

The fee varies based on the program and institution. On average, it will cost you $50 to $150 per program. Take note that the amount you have to pay is the exact amount the institution requires – MSM UNIFY doesn’t charge any additional fees or hidden charges.

When is the deadline for application?

The deadline varies according to the institution and program. Most schools typically accept applications until late May. Others, however, require it to be submitted as early as January for the autumn school opening. Given these variations in deadlines, it will be in your best interest to choose your program in the soonest possible time.

Why HDFC Credila

Benefits of HDFC Credila:

Get Tax Benefits Under Section 80E

Door Step Service!

Loan upto 100% of Educational Expenses

Multi City Co-borroewrs Accepted

Loan Approval Before Admission

Flexibility on Collateral Security

Quick Loan Processing

Repayment upto 12 Years.

Loan Amount More Than Rs. 20 Lakhs Possible

Who can apply for a loan?

Indians, planning for higher education in the USA.

What if I am applying to other countries too?

The product given under is for USA. We have specialized products for other countries too. You may apply to us even before finalizing your country of education. However, the final loan product shall be as per the Country finalized by you for your higher education.

In what currency do I get/repay the loan?

This is an Indian Rupee denominated education loan for following students Indian students attending colleges in USA. The loan will be disbursed in India in Indian Rupees wherever required by student. Repayments of the loan to be made by the borrower in Indian Rupees only.

  • Borrower must be an Indian citizen
  • Co‐applicants(s) must be an Indian citizen
  • Co‐borrower(s) must have a bank account in any bank in India with cheque writing facilities
  • Confirmed admission in the colleges before disbursement
  • Borrower and Co‐applicant(s) to meet HDFC Credila’s credit and underwriting norms as applicable from time to time
Co‐applicant Requirements
  • It is mandatory to bring in an earning co‐applicant(s) based in India to support the Education Loan application.
  • Co‐applicant(s) may be any of the following relatives, viz Father / Mother / Brother / Sister (married) /Spouse, where such co‐applicant’s income would be considered in determining the loan eligibility per HDFC Credila’s credit and underwriting norms;
  • Co‐applicant’s liability is co extensive with the Student;
  • Co‐applicant(s) to provide documentary proof to establish their relationship with the student, to the satisfaction of HDFC Credila;
  • In case the collateral to be provided is not provided by one of the above relatives, then the collateral could be provided by one of the following relatives provided they are brought into the arrangement as Co‐applicant(s) viz: Father‐in–law; Mother‐in‐law; Sister‐in‐law; Brother‐in‐law; Maternal or Paternal Uncle or Aunt, Grandparents & First Cousins.
What Costs Are Covered?

costs covered All of the tuition fees as determined by the college/University

  • Up to 100% of other expenses including living and hostel expenses, travelling expenses, examination fees, library/laboratory fees; purchase of books / equipment’s/instruments/uniforms; passage money for studies into India; purchase of computers / laptops considered necessary for completion of the course as decided by HDFC Credila. Travel fare restricted to one economy class return ticket between India and the USA(study location).
Loan Amount
  • Minimum Loan Amount Indian Rupees 1,00,000
  • Lifetime Maximum Loan Amount: HDFC Credila does not have an upper limit on the loan. We processes loans exceeding Indian Rupees 25,00,000 also, subject to the case meeting HDFC Credila’s credit and underwriting norms as applicable from time to time.
Rate Of Interest
  • Rate of interest will be floating rate of interest linked to HDFC Credila’s Benchmark Lending Rate (CBLR)
  • The interest will be calculated using Simple Interest Rate
  • Floating rate of interest to be (HDFC Credila’s CBLR + Spread)% per annum
  • For HDFC Credila’s current CBLR Click Here
  • A Spread is determined on the risk profile of the case which vary on account of a number of factors such as student’s academic background, employability of the selected course from a selected college and country of study, financial strength of the co‐borrower, loan repayment capability, credit history, collateral offered or not, serviceability of the loan through HDFC Credila’s branch network, cost/s associated with underwriting and servicing the loan etc.
Loan Disbursement
  • The loan amount will be disbursed in Indian Rupees
  • HDFC Credila will disburse the tuition fee to the educational institute either directly or through an authorized servicer
  • The tuition fee will be disbursed in installment as per the requirement of the specific educational institute The loan amount related to other expenses will be disbursed in installments spread over the duration of the study as per HDFC Credila’s underwriting norms as applicable from time to time
Loan Re‐payment Terms
  • Loan interest re‐payment will start immediately after disbursement of the first installment of the loan
  • Tenure of an education loan consists of Duration of Study + Grace Period after the Study + Repayment Period
  • HDFC Credila offers maximum tenure of 12 years
  • The loan tenure is however, subject to the factors such as the repayment capacity of the customer/s, future prospects of the course, age of the co‐applicant, etc. and further subject to HDFC Credila’s credit and underwriting norms as applicable from time to time. However, HDFC Credila would endeavour to determine the repayment period to suit your convenience.
  • Monthly repayment amount will be deducted from the bank account of the borrower/co‐borrower using Electronic Clearing System (ECS)

The following types of collateral are accepted

  • Residential Flat
  • Residential House
  • Non‐Agricultural Land
  • A Fixed Deposit, assigned in favour of HDFC Credila

3 Easy Steps

Fill Online Application Form
Step 1
Provide Documents
Step 2
Get the Money!
Step 3