Amongst the few NBFCs functioning successfully in India, Credila education loan, a subsidiary of HDFC Bank is one among them. Being the very first financial institution to lend education loans to those in need is one of the feathers in Credila’s hat. The HDFC Credila education loan is the preferred choice of most students who wish to take an abroad education loan. However, there are many other better options than Credila education loan today in the Indian market.
What is the Credila education loan interest rate?
The Credila education loan interest rate is based on something called CBLR. The interest rate of an education loan from Credila is calculated as (CBLR + Spread)% per annum. The current CBLR for abroad education loans is set at 11.80%.
It is true that NBFCs in India sanction abroad education loans to students at a faster rate as compared to government banks. However, it is to be noted that they charge a comparatively higher rate of interest and charges. The major Credila education loan complaints have been about their fluctuating interest rates. There is a complaints section on the Credila website where you can register your Credila education loan complaints. It is always advised that students research this well and then proceed with their decision to borrow an abroad education loan from NBFCs.
Read more: https://www.wemakescholars.com/blog/credila-education-loan-the-complete-guide
0
Sign in to leave a comment.