HDFC Credila Education Loan
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FAQsCo-borrower

1. What is co-borrower/guarantor?

The Co-borrower should be an Indian citizen who would agree to co-sign and execute the loan agreement and other documentation; who is able as well as promises to service the interest in the moratorium period comprising of the study period and grace period and in the event of the student's inability to repay the loan would repay the instalments of the loan and/ or provides the collateral security.

2. Can my friends be the co-borrower?  If not, then why?

Friends can't come as co-borrower because of the risk involved and underlying company policy in this regard. We accept only family members as co-borrowers

3. Can friends be co-applicants?

Friends can only to be guarantors at the most and not the co-applicants.

4. My father/Relative works in Abroad. Can he be a co-borrower/guarantor?

Yes, he can be a co-borrower/guarantor provided he has an NRI account and the collateral is in India. In either cases additional co-borrower is required.

HDFC Credila Financial Services Pvt. Ltd., Formerly known as Credila Financial Services Pvt. Ltd. is a Subsidiary of HDFC Limited. HDFC is leading financial services company of India.
HDFC Credila Financial Services Private Limited Registered Office: B 301, Citi Point, Andheri-Kurla Road, Andheri (East), Mumbai-400 059, India