What's the starting interest rate and repayment tenure if I take a US education loan from HDFC Credila?
HDFC Credila offers USA education loans starting at around 9.50 percent annual interest, with loan amounts of 30 lakh rupees or more depending on your profile. You can repay the loan over a tenure of up to 15 years, similar to most major Indian lenders offering study loans.
If HDFC Credila is on your shortlist for a USA education loan, you can expect an interest rate starting near 9.50 percent, with sanctioned amounts of 30 lakh rupees or higher. Your repayment tenure can stretch up to 15 years.
HDFC Credila Loan Snapshot
| Detail | Figure |
|---|---|
| Loan amount | 30 lakh rupees or more |
| Starting interest rate | Around 9.50 percent per year |
| Repayment tenure | Up to 15 years |
Where This Fits Among Other Lenders
Compared with nationalised banks, HDFC Credila tends to sanction larger amounts with fewer restrictions on the course or university, though the rate can run higher than a secured public sector loan. Weigh this against options like Bank of Baroda or Axis Bank before deciding.
My Advice
Ask for the exact rate applicable to your profile in writing, since the starting figure is only the best case scenario. Compare the effective rate after processing fees against at least one public sector bank before you sign the loan agreement.
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