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Education Loan For MS in Poland

Application Process

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partners

Our partners provide Education Loan service

Gyandhan Education Loan

Loans for coaching and foreign education Bringing you a step closer to that dream career

HDFC Credila Education Loan

Get your education loan sanctioned without an admit and without any collateral!

InCred Education Loan

Get your education loan sanctioned without an admit and without any collateral!

Axis Bank Education Loan

Get your education loan with 0.5% off on the interest rate and Rs. 15,000 processing fee waved off!

partners

Our partners provide Education Loan service

Gyandhan Education Loan

Loans for coaching and foreign education Bringing you a step closer to that dream career

HDFC Credila Education Loan

Get your education loan sanctioned without an admit and without any collateral!

InCred Education Loan

Get your education loan sanctioned without an admit and without any collateral!

Axis Bank Education Loan

Get your education loan with 0.5% off on the interest rate and Rs. 15,000 processing fee waved off!

How Does This Process Work?

Talk to Executive

Give your contact details in the form and we will arrange a call with representative.

Submit Documents

Representative provide you a list of documents to be prepared.

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Get Your Loan Sanctioned

Once all the required documents are submitted, the loan is approved in 15 working days.

Get your education loan sanctioned without an admit and without any collateral!

1. Talk to Credila Executive

Give you contact details in the form and we will arrange a call with HDFC Credila representative.

2. Submit Documents

HDFC Credila representative provide you a list of documents to be prepared.

3. Get Your Loan Sanctioned

Once all the required documents are submitted, the loan is approved in 4-5 working days.

Frequently asked questions

  1. Reduces last minute hassle and saves time during the Visa process
  2. Know your loan eligibility in advance and plan accordingly
  3. Better acceptance of the sanction letter over the solvency letter

Please wait for the HDFC Credila representative’s call. He/she will give you the complete details of further steps.

HDFC Credila has a student friendly education loan application process:

  1. HDFC Credila informs you about the details of education loan and related terms and conditions.
  2. HDFC Credila sets an appointment with you for the house visit.
  3. HDFC Credila’s representative visits your house and collects application form with the supporting documents. We can visit the house of students and parents both, even if they are in different towns. HDFC Credila has presence across India.
  4. The application goes through credit and underwriting process.
  5. We check credit history of parents and students.
  6. We visit students and parents for employment and other verifications, valuation reports etc.
  7. We perform risk analysis using HDFC Credila’s “Predictive Credit Scoring Model”.
  8. We sanction or decline the loan.
  9. For sanctioned loans, disbursement formalities get completed.
  10. HDFC Credila disburses the loan amount
  1. Fully completed application from
  2. Photos
  3. Photo ID
  4. Residence Proof
  5. Academic Documents
  6. Proof of Admission
  7. Bank Statement
  8. Income proof of co-aaplicant
  9. Immovable Property Document

It depends on multiple factors such as:

  1. Academic background of the student
  2. Type of course and University for which education loan is applied for
  3. If collateral is offered against the loan or not. Type of collateral offered.
  4. Co-borrower/guarantor on the loan. Job profile of the co-borrower etc.

It varies depending on the candidate’s profile, loan requirement and financial background. This will be discussed during the approval process. 

The loan application will be processed two phases:

  1. For in-principle sanction
  2. For disbursement of funds

The in-principal sanction letter would be given in about 7 to 10 days from the date of receipt of completed Application Form along with the supporting documents from the customer.

Similarly, the disbursement would be completed within 7 days from the date of receipt of all post sanction documents from & completion of the underlying post sanction process by the customer.

HDFC Credila is the only lender that not only finances upto 100% of the cost of education but also gives education loan over Rs. 20 lakhs. What’s more, HDFC Credila also covers living to expenses in addition to tuition fee.

No. You can apply for education loan before getting admission confirmation from University / College. If your case is approved, you’ll get a conditional loan sanction letter. This helps many students get confidence that their funds can come from HDFC Credila. Students and parents feel confident to apply for better colleges, without worrying about how to fund the education cost.

Yes, work experience does make a positive impact while granting a loan.

The loan is for the complete education cost including tuition fees, living expenses, books and periodicals and some times travelling expenses as well.

HDFC Credila Education Loan Form

Note: Before placing the order, please make sure that you have all the necessary documents ready.

Why do we recommend HDFC Credila?

Education Loan Features HDFC Credila Others
Up to 100% finance X
Doorstep service X
Loan amount over Rs.20 lakhs also available X
Repayment tenure up to 10 years (Easy EMIs) X
Less than 100% collateral X
Co-borrower flexibility X
Loan against property mortgaged with HDFC Ltd. X
Loan Sanction before admissions also X
Attractive rate of interest Maybe
Tax benefit under Section 80-E of Income tax Act Maybe
Tax benefit under Section 80-E of Income tax Act X

If you have any further questions check out Credila FAQ Page, or feel free to Contact Us.

Highlights

  1. Education loan is always an extra burden that is going to sit on your shoulder after the completion of your studies. Think thoroughly before you decide to apply for it.

  2. For SBI Click here for the details of student loan.

  3. The 'margin' is simply the amount not covered by the bank. For example, if you are taking a loan of Rs. 10 lakh, the bank will give you 85% i.e. Rs. 850,000 and you need to bring Rs. 150000 out of your pocket.  It gives a surety for the bank that since you also brought in some money, you will use it wisely in the end.

  4. There will be a 0.50% concession in the interest rate for female students.

  5. For studying abroad, the maximum amount of loan given is Rs. 30 lacs.

  6. The repayment will commence one year (moratorium period) after completion of the course or 6 months after securing a job, whichever is earlier. You need to repay the loan within 15 years.

  7. You are expected to pay a minimum amount equivalent to the EMI on a monthly basis. However, you can choose to pay more than the EMI, there is no prepayment penalty.

  8. You can request for an extension of the repayment period, if necessary.

Required documents

  1. Letter of admission

  2. Completely filled in Loan Application Form

  3. Two passport-size photographs

  4. Statement of cost of study

  5. PAN Card of the student and Parent/ Guardian

  6. AADHAR Card of the student and Parent/ Guardian

  7. Proof of identity (Driving Licence/Passport/Aadhar/ any photo identity)

  8. Proof of residence (Driving License/Passport/Electricity bill/Telephone bill)

  9. Student/Co-borrower/ guarantor's bank account statement for last 6 months

  10. IT return/ IT assessment order, of previous 2 years of Parent/ Guardian/ other co-borrower (if IT Payee)

  11. Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower

  12. Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower

  13. Encumbrance certificate (if necessary)

  14. Title clear certificate from the banks approved advocate (if loan amount exceeds 7.5 lakhs)

  15. Valuation report of the property and building from the banks approved evaluator (if loan amount exceeds 7.5 lakhs)

Trivia

  1. Once you have all the required documents, the process is quite straightforward. But you may have to pass through some hurdles and it may take a month's time to get your loan sanctioned. So start the process as soon as you get your first university admit. Also, it helps if your parent has a good relationship the bank manager.

  2. It's always better to get a good amount of educational loan sanctioned and be prepared for any eventuality. You are going to withdraw the loan amount only to the extent it is required.  The interest is payable only on the amount that you have utilized from the sanctioned amount.

  3. In general, you need to give the account details of target bank in Poland and the loan money will be directly transferred to that account. The lender bank will not transfer the money to your local bank account.This step is not always madetory.

  4. Take your own time to really go through the loan agreement’s fine print before you sign it. Few things you should check are interest structure (simple or compound, will it change once you start the repayment?), margin amount, pre-payment details and if there is an option for you to extend it in case you are unemployed after graduation etc.

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Management University Poland

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