An overseas education loan is borrowing arranged specifically to fund higher studies at a university or college outside India. Students and families typically use it to meet the cost of a foreign degree such as a master's programme abroad, spreading that expense over a repayment period rather than paying upfront. Beyond tuition, this kind of loan is generally structured to help with the wider costs of studying overseas, and repayment usually begins after the course, so the borrower services it once they have started their career.
HDFC Credila, which trades as Credila Financial Services and began operating in 2006, is a non-banking financial company that focuses solely on education lending. Its study-abroad loan is positioned to cover tuition fees, living expenses, visa-related costs and study materials, and the lender states it can finance the full cost of an eligible course.
Applications may be made online, with the loan sanctioned after a credit appraisal and funds released once formalities are complete. Eligibility extends to students pursuing higher education abroad across a broad range of courses and institutions, and a co-applicant is generally part of the arrangement. Any loan facility is offered at the company's discretion and within its prevailing credit and underwriting norms, so approval is not guaranteed and depends on assessment of each applicant's profile.
Tax: interest is deductible under Section 80E (no cap, up to 8 years). Foreign lenders (labelled below) are not RBI-regulated — read their terms carefully.
They lend without Indian collateral and are useful for some students, but they are NOT RBI-regulated — shown here with a distinct badge. Compare their all-in USD cost against an RBI-registered Indian lender before deciding.
Every row is date-stamped with the day we last checked it, and links to the lender’s published material so you can confirm it yourself. A row we confirmed against the source reads “Verified”; one we could only sight reads “as of”, and is not presented as confirmed. Anything we have not re-checked in 60 days is marked “rate under review” rather than left to look current. We do not claim a fixed re-checking cycle — the date on each row is the honest answer.
No. Viewing rates is not a credit enquiry and has no score impact. A hard enquiry happens only when you formally apply to a lender.