Credila Educational Loan Interest rates in Pune
| Up To 5,00,000 | 5,00,000 To 20,00,000 | 20,00,000 Above | |
|---|---|---|---|
| Executive MBA | 12.10% | 12.10% | 12.10% |
| Studies in India | 12.10% | 12.10% | 12.10% |
| Studies in USA | 12.10% | 12.10% | 12.10% |
| Study Abroad | 12.10% | 12.10% | 12.10% |
Features of Credila Educational Loan Pune
| Type | Features |
|---|---|
| Processing Fee | upto 2.0% |
| Pre Closure Charges | Nil after 6 months |
| Part Payment Charges | Nil |
| Min Tenure | 1 Years |
| Max Tenure | 10 Years |
| Min Age | 18 Years |
| Max Age | 35 Years |
| Min Loan Amount | Rs.1,00,000/- |
| Max Loan Amount | Rs.35,00,000/- |
Credila Educational Loan Pune Charges
| Type | Charges |
|---|
Documentation For Education Loan
Required Documents
- Signed Application form
- Two Passport Size Photos - Applicant and Co-Applicant
- Photo ID - Applicant and Co-Applicant (Any one of the following)
- Residence Proof - Applicant and Co-Applicant (Any one of the following)
- Academic Documents of Student/div>
- Proof Of Admission (If available)
- Last 8 Months Bank Statements of Co-Applicant
- Income Proof of Co-Applicant
- Accepted Collateral documents
Photo ID - Applicant And Co-Applicant
- PAN Card
- Passport
- Driving License
- Voters ID
- Employee ID
- Photo ID issued by the Central Govt. or State Govt.
- Bankers Verification/ Bank Passbook with photograph of account holder attested by bank
Residence Proof
- Passport With Address
- Bank Statement With Address
- Driver's License with Address
- Utility Bill (Not older than 3 months))
- Telephone Bill (Not older than 3 months)
- Ration card
- Latest LIC Premium Receipt (Not older than 3 months)
- Leave and License Agreement supported with an address proof / utility bill in the name of the landlord
- Voter's ID
Academic Documents Of Student
- Marks sheet/Certificate of 12th Exam
- Marks sheet/Certificate of Subsequent Years of Education e.g. BE, BCom, BSc, etc.
- Marks sheet of Any Entrance Exam Taken e.g. CAT, CET, etc. (If applicable)
- GRE/GMAT/TOFEL/LETS, etc Mark sheets For US Applicant
- Scholarship Documents (if applicable)
Proof Of Admission
- Printed Admission Letter From the Institute on its Letterhead With Institute's Address
- I-20 Form for the USA Applicant (If any)
- 8 Months Bank Statements of Co-Applicant (If more than one bank account, provide copies of all)
- Note: Make sure to include the bank statements of the Bank Account where Salary or Business or Professional receipts are credited every month.
Income Proof Of Salaried Employee
- Latest 3 Salary Slips or Salary Certificate on Employer's Letterhead
- Last 2 year's Form 16 from Employer or Last 2 Year's Income Tax Returns
- Any Other Income Proof That is Not Reflected in the Above Documents
Income Proof Of Self Employed Or Professional
- Last 2 Year's Income Tax Returns
- Last 2 Year's Certified Financial Statements or Provisional Financial Statements
Income Proof Of (Duly Certified By CA)
- Proof Of Office (any one of the following, Lease Deed, Utility Bill, Title Deed, etc.)
- Any Other Income Proof That is Not Reflected in the Above Documents
Collateral Documentation
- Property Title Deed
- Registered Sale Agreement Along With Society Share Certificate
- Original Registration receipt for the above agreement
- Allotment Letter By Municipal Corporation / Authorized Govt, Commencement Certificate from Municipal Corporation/Council.
- 15 years or 30 years of Title Search (Previous Chain of Sale Deed establishing title) of the property.
- Any other document as prescribed by our empanelled lawyers or chartered engineers from time to time
Accepted Collateral
- Residential Flat
- Residential House
- Non-Agricultural Land
- A Fixed Deposit
Credila Educational Loan FAQ's
1. What are the required factors for the loan?
Credila Education Loan depends on multiple factors such as: Academic background of the student Type of course and University for which education loan is applied for If collateral is offered against the loan or not. Type of collateral offered. Co-borrower/guarantor on the loan. Job profile of the co-borrower etc
2. What is it that you see in the application, rather what do you look out for?
Banks and other lenders normally check: 1. Students past academic track record 2. Quality of institute/college and course the student wish to pursue 3. Student’s ability to get an appropriate job after the course that he/she is seeking education loan for 4. Also, the potential salary is also estimated to calculate eligibility of loan amount 5. Also, credit histories of the applicant and co-applicants play an important role in approval 6. Lastly, the value and type of property being offered as collateral security for higher value loans also play an important role in decision
3. Can I get a special privilege if I am an old HDFC Bank customer?
Yes. HDFC Bank is a group company and we are very sensitive towards our existing customers. You will get best of services and product considerations.
4. Can I avail Education loan, if no one stand as Guarantor for my case?
Credila generally require family members as co-borrowers. It again depends on your overall profile and the study course you are interested in. Credila have different product propositions for different study courses.
About Credila
Credila has funded tens of thousands of students from India to over 2100+ unique educational institutes across 35+ countries
"
Credila Highlights
About Other Banks
Bajaj Finserv
ICICI Bank
Axis Bank
HDFC Bank
Magma Fincorp
DHFL
Citi Bank
Dcb Bank
IDBI Bank
IndusInd Bank
Kotak Mahindra Bank
RBL Bank
State Bank of India
Standard Chartered Bank
Avanse
LIC Housing Finance
Fullerton
TATA Capital
HDFC Limited
Aditya Birla Housing Finance
Capital First
Edelweiss
Indiabulls Housing Finance
Religare Finvest
Yes Bank
Canara Bank
Bank of Baroda
About Educational Loans
Accepted Collateral and documentation
Educational Loans will be available for following students:
Indian students attending overseas colleges and
Indian students attending colleges in India
Educational Loan covers the following
All of the tuition fees as applicable for the college/University
Up to 100% of other expenses including
Living and hostel expenses
Examination fees,
Library/laboratory fees,
Purchase of books / equipments/instruments/uniforms
Purchase of computers / laptops considered necessary for completion of the course.
Travel fare restricted to one economy class return ticket between India and the country of study, if applicable
Eligibility
Borrower must be an Indian citizen and must be 18 years of age or older
Co-borrower(s) must be an Indian citizen
Co-borrower(s) must have a bank account in any bank in India
Confirmed admission in to the colleges before Educational Loan disbursement
Borrower and Co-borrower(s) must meet Banks/Financial Institution credit and underwriting norms as applicable from time to time.
Guarantor/Co-borrower Requirements
Borrower must be an Indian citizen and must be 18 years of age or older
It is mandatory to bring in an earning co-borrower(s) based in India to support the Education Loan application.
It is mandatory to bring in an earning co-borrower(s) based in India to support the Education Loan application.
Guarantor/Co-borrower(s) may be any of the following relatives, viz Father / Mother / Brother / Sister(married) /Spouse, where such co-borrower's income would be considered in determining the loan eligibility. And property related to: Father-in-law; Mother-in-law; Sister-in-law; Brother-in-law; Maternal or Paternal Uncle or Aunt, Grandparents also can be accepted.
Guarantor/Co-borrower's liability is co extensive with the Student;
Guarantor/Co-borrower(s) to provide documentary proof to establish their relationship with the student, to the satisfaction of Bank/Financial Institution;
Loan Amount
Borrower must be an Indian citizen and must be 18 years of age or older
Minimum Loan Amount: Rs. 1,00,000 – Rs. 30,00,000
Rate Of Interest
Rate of interest will be floating rate of Interest, generally linked with the base rate of the banks, Present Scenario the Rate of Interest will be 11.5% to 15.0%.
Rate of Interest 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.
Loan Disbursement
The loan amount will be disbursed in Indian Rupees
The loan will be disbursed in India in Indian Rupees which can be converted to foreign currency for payment of university fees by the student wherever required.
Bank/Financial Institution disburses 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.
Repayments of the loan to be made by the borrower in Indian rupees only.
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 + free look Period after the Study + Repayment tenor
Maximum tenure up to 10 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 credit and underwriting norms as applicable from time to time.
Monthly repayment amount will be deducted from the bank account of the borrower/co-borrower using Electronic Clearing System (ECS).
Problems (at) Educational Loans
The amount of margin money required cannot be raised by the student.
Students who want to study abroad may need to take a loan that is more than the value of the collateral put up.
Income level of the guarantor is too low or the guarantor doesn't have credible Credit Score record.
It is difficult to prove that the college the applicant is going to is a valid college.
Applicant's documents are not in order.
If a student is studying abroad, there are a lot of formalities to be fulfilled and the student may not have accounted for the time that will be consumed.
ApnaLoanBazaar will help you to complete all the formalities with in a smooth manner to avail the Educational loan.
In today's scenario a lot of banks are apprehensive about funding studies abroad. The costs are huge and there is little guarantee that the applicant can get a job there after his/her course is over. You also have to take into account that the number of fake institutions abroad are rising and duping gullible students.
There is no one in the applicant's close family who has a credit score history.
Expert Advice
Best Practices for Educational Loan
Things not to do for Educational Loan
Basics of Educational Loans
There are three factors that you need to understand before applying for a Educational loan: Margin, Collateral and Repayments.
About Pune
Pune is the the second largest city in the Indian state of Maharashtra and the ninth most populous city in the country. Situated Deccan plateau on the right bank of the Mutha river, Pune is the 7th ranking industrial metro of India at present. Infact Kothrud has achieved a place in the Guinness book of world records for having the fastest urban growth rate, and one of the most important IT hubs in India. Pune is known for its educational facilities and relative prosperity. Being the cultural capital of Maharashtra,
Pune became popular with the rise of Maratha ruler Shivaji. He spent his early childhood in Pune at Lal Mahal, a palace built by his father Shahaji, where Shivaji's mother Jijabai lived for a decade. Aurangazeb's uncle, Shahistekhan was defeated at Lal Mahal by Shivaji.Aurangazeb named Pune as Muhiyabad after the death of Shivaji in 1680. Pune again gained importance during the period of the second Peshwa Thorala (senior) Bajirao who ruled from 1720 to 1740.
Other Cities Loan Offers
Places To Be Visited In Pune
Western Ghat
During monsoon the western ghat enhances its beauty. At that time, all red brown terrain changes into a deep, bright green with dense rain clouds hanging from the sides. The option for trekking is also available.
Lonavala
Lonavala is best weekend destination for people of Maharashtra. Lonavala is situated in Pune district of Maharashtra. It is about 64 km away from the city ofPune, 96 km away from the city ofMumbai. Here you will get the mesmerized view. Lonavla Lake is surrounded by natural scenery, about 1.6 km from the town.
Darshan Museum
Darshan Museum is a biographical museum that offers an insight into the life and therefore the teachings of Sadhu Vaswani. The museum is built on a space of 10000 sq. feet; on the first floor of the Sadhu Vaswani Mission Building.
Bhuleshwar Temple
Bhuleshwar Temple is a hindu temple of Shiva, situated around 45km from Pune it is a historical Temple in Pune.The temple is situated on a hill and was built in the 13th century.The temple is unique as its architecture is Islamic from outside and appears more as a mosque than a temple due to its resemblance of circular tomb and minarets.
Rajmachi
Clad in history and ancient tales, the quaint village of Rajmachi is also among the best places to near Pune in monsoon. Located around 78km from the city limits, this hamlet is embraced by the enchanting charm of the Sahyadri Mountains and the historic Rajmachi Fort serving as the main attraction.With the fortified Shrivardhan and Manaranjan forts as the fortified structures, a trek to Rajmachi Fort is a must for the adrenaline junkies.
Lavasa
Located around 57km from Pune's city limits, Lavasa or the first private planned city in India is a heaven for the nature lovers. Cossetted with stunning hills and evergreen pastures, this hill city spreads around 25,000 acres and is known for its peaceful ambience, serenity and gorgeousness andmake it to this beautiful hill city and explore its grandiosity on a jovial segway ride. Navigate through the quaint lanes of Lavas, ride steadily through its opulent beauty and discover the charm and appeal of Lavasa.