HDFC Credila loan amount

What’s the process of HDFC credila to sanction the amount of loan (non-collateral)?
I have read in this portal that they decide it with combined factors like student’s overall profile + income of co-borrower and all.
So I wanted to know that how much amount a particular profile can as loan.
If there is any example with student’s and co-borrower’s profiles , then I can understand it properly.

Hi @Jay_Bharadva,

The easiest way to know if you are eligible for the loan is to check your loan eligibility on our website. Go to GyanDhan > Loans > Check Loan eligibility.
The loan eligibility tool will ask you questions such as the type of loan, loan amount, co-applicants profile, etc. to suggest a lender that will best suit your profile and the loan amount you can get.

Further, it will put you in touch with an Education Loan Counselor who will not only discuss the loan options with you but will also help you in the entire loan application process.

The maximum loan amount you can borrow is INR 40 lakhs. However, there are case exceptions where the loan amount limit is extended if the student’s academic record is outstanding. In general, all the mentioned factors play a role in sanctioning the loan. There is no set student profile for a particular amount. But as an example, I’m mentioning a profile for a loan of INR 40 lakhs
A student with

  • First Division in their undergrad,
  • 80% and above in 12th and 10th,
  • 320+ GRE score,
  • TOEFL - 100+
    Or if the student has taken IETLS, then 7.0 band and above,
  • target college should have a good rank for the target course and program.

Co-applicant’s profile -

  • the income of the co-applicant should be at least INR 90,000 and above per month,
  • CIBIL Score of 700+
    Another factor that is taken into consideration is the existing liabilities of the co-applicant. If the co-applicant is already paying off previous non-collateral loans, then the income should be enough to take on another liability of making interest payments during the study period. This will be decided by HDFC Credila only.

To ensure your profile qualifies for a loan from HDFC Credila, get in touch with our Education Loan Counselor. They will ask you in-depth questions to gauge your profile for a loan from HDFC Credila. If in case your profile does not qualify for a loan from this lender, they will suggest you the next best option.
Hope this helps. All the best!