Frequently Asked Questions (FAQs)

Have a question? We’re here to help.

About Credila
Why Choose Credila?
Application Process
Document Checklist
Loan Amount Availability
Loan Eligibility
Loan Repayment
Co-borrower
Collateral
Loan Amount
Tax Benefit
Manage Your Loan
Customer Service

About Credila

Why Choose Credila?

Application Process

Document Checklist

Loan Amount Availability

Loan Eligibility

Loan Repayment

Co-borrower

Collateral

Loan Amount

Tax Benefit

Manage Your Loan

Customer Service

We are here to help you

Call Us

Let’s talk about how we can make it easier for you.

1800-209-3636

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loan@credila.com

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Frequently Asked Questions (FAQs)

1. What does Credila offer?

2. How is Credila different from other student loan providers?

3. How many offices does Credila have across the country?

4. Credila doesn’t have an office in my town or city. How will Credila offer me its loan service?

1. Who should be opting for an education loan and why?

2. How does the economic scenario affect the loan market? Are there fewer loans to hand over or fewer loans to take?

3. What if a person has enough money in the bank? Is it better to take a loan or use their own money?

1. What is the education loan process at Credila?

2. Where can I get the loan application form, and where must I submit the same?

3. How can I apply to Credila?

4. If I’m planning to study overseas, when is the right time to apply for an education loan - before admission confirmation or after?

5. Why should I apply now while my admission is not confirmed yet?

1. Which documents are required to apply for an education loan?

1. What is the maximum loan that you offer for higher education in India and overseas?

2. Is it true that lenders even offer an INR 1 crore loan?

1. Do government-approved institutes or AICTE-approved institutes stand a better chance for loan approval? Will the same criteria be applied for institutes abroad?

1. How is interest calculated?

2. What if the student gives up studies without completing their programme?

3. Usually, banks ask for repayments after the course completes, but Credila has asked me to pay at least the interest amount during the course. What are the benefits of this?

4. Does Credila offer part payment/foreclosure?

5. Is there any benefit if the interest is paid during the study period?

1. Who is a co-borrower/guarantor?

2. Who can be the co-borrower? Can they be in another city?

3. Can an NRI be a co-applicant?

1. What are the types of collateral that can be offered?

2. Is collateral required with every loan application?

1. What is the maximum loan amount sanctioned?

2. What all does the loan cover?

1. Who can avail of the benefit?

2. On what basis can the exemption be claimed?

3. What is the maximum amount for which exemption can be claimed?

4. From where does one have to take an education loan to avail of this benefit?

5. What are the courses or programmes for which the tax benefit can be availed?

6. What must be the education destination to avail this benefit?

7. What’s the time limit to claim the tax exemption?

8. How can one prove that interest on the education loan has been paid to avail of this benefit?

1. How do I update my contact information?

2. Can I pay an extra lump sum on the education loan?

3. Can I make an additional payment while studying or during the moratorium or grace period?

4. My bank account details have changed. How do I make my payments now?

5. What are the documents required for ECS/ACH Swapping?

6. What is the processing or service charge levied on the customer?

7. What are the consequences of ECS dishonour?

8. When do I have to fund my bank account for clearing the payment through ECS (Debit Clearing)?

9. How can I remit the defaulted payment of the ECS?

10. How do I get my property papers back?

11. Does Credila have an ROI conversion facility?

1. How can we help you?

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