30-May-2024, Thur.
HDFC Credila, India’s first dedicated education loan company, is now offering its services through Bajaj Markets, a leading financial services platform. This partnership aims to provide students with easy access to affordable education loans to fund their higher studies in India or abroad.
HDFC Credila, a subsidiary of HDFC Ltd., has been a pioneer in the field of education loans since its inception. The company offers a wide range of loan products tailored to meet the diverse needs of students, including loans for undergraduate, postgraduate, and professional courses. Through Bajaj Markets, students can now apply for HDFC Credila education loans at competitive interest rates starting from 10.25% per annum. The platform offers a hassle-free application process, allowing students to complete their loan application online with ease. One of the key benefits of availing an HDFC Credila education loan through Bajaj Markets is the flexibility in terms of collateral and repayment options. The loans can cover up to 100% of the educational expenses, including tuition fees, living costs, and other related expenses.
Another advantage is the availability of tax deductions under Section 80E of the Income Tax Act of India. This provision allows borrowers to claim a deduction on the interest paid on their education loans, providing significant tax savings.
HDFC Credila’s partnership with Bajaj Markets also offers a unique feature called “Balance Transfer of Loan.” This allows students to transfer their outstanding principal amount to another bank or financial institution for better terms, such as a lower interest rate, without any processing fees.With over Rs. 9,000 crore in cumulative disbursements, HDFC Credila has established itself as the industry leader, capturing approximately 17% of the overall education loan market in India.
The company’s specialized focus on education loans and its presence across 35 countries make it a preferred choice for students seeking to fund their higher education. In conclusion, the availability of HDFC Credila education loans through Bajaj Markets presents a valuable opportunity for students to access affordable and flexible financing options for their educational pursuits. With competitive interest rates, tax benefits, and a wide range of loan products, this partnership aims to make higher education more accessible and achievable for aspiring students across the country.
