Credila Educational Loan Interest rates in Kochi
| Up To 5,00,000 | 5,00,000 To 20,00,000 | 20,00,000 Above | |
|---|---|---|---|
| Executive MBA | 12.10% | 12.10% | 12.10% |
| Studies in India | 12.10% | 12.10% | 12.10% |
| Studies in USA | 12.10% | 12.10% | 12.10% |
| Study Abroad | 12.10% | 12.10% | 12.10% |
Features of Credila Educational Loan Kochi
| Type | Features |
|---|---|
| Processing Fee | upto 2.0% |
| Pre Closure Charges | Nil after 6 months |
| Part Payment Charges | Nil |
| Min Tenure | 1 Years |
| Max Tenure | 10 Years |
| Min Age | 18 Years |
| Max Age | 35 Years |
| Min Loan Amount | Rs.1,00,000/- |
| Max Loan Amount | Rs.35,00,000/- |
Credila Educational Loan Kochi Charges
| Type | Charges |
|---|
Documentation For Education Loan
Required Documents
- Signed Application form
- Two Passport Size Photos - Applicant and Co-Applicant
- Photo ID - Applicant and Co-Applicant (Any one of the following)
- Residence Proof - Applicant and Co-Applicant (Any one of the following)
- Academic Documents of Student/div>
- Proof Of Admission (If available)
- Last 8 Months Bank Statements of Co-Applicant
- Income Proof of Co-Applicant
- Accepted Collateral documents
Photo ID - Applicant And Co-Applicant
- PAN Card
- Passport
- Driving License
- Voters ID
- Employee ID
- Photo ID issued by the Central Govt. or State Govt.
- Bankers Verification/ Bank Passbook with photograph of account holder attested by bank
Residence Proof
- Passport With Address
- Bank Statement With Address
- Driver's License with Address
- Utility Bill (Not older than 3 months))
- Telephone Bill (Not older than 3 months)
- Ration card
- Latest LIC Premium Receipt (Not older than 3 months)
- Leave and License Agreement supported with an address proof / utility bill in the name of the landlord
- Voter's ID
Academic Documents Of Student
- Marks sheet/Certificate of 12th Exam
- Marks sheet/Certificate of Subsequent Years of Education e.g. BE, BCom, BSc, etc.
- Marks sheet of Any Entrance Exam Taken e.g. CAT, CET, etc. (If applicable)
- GRE/GMAT/TOFEL/LETS, etc Mark sheets For US Applicant
- Scholarship Documents (if applicable)
Proof Of Admission
- Printed Admission Letter From the Institute on its Letterhead With Institute's Address
- I-20 Form for the USA Applicant (If any)
- 8 Months Bank Statements of Co-Applicant (If more than one bank account, provide copies of all)
- Note: Make sure to include the bank statements of the Bank Account where Salary or Business or Professional receipts are credited every month.
Income Proof Of Salaried Employee
- Latest 3 Salary Slips or Salary Certificate on Employer's Letterhead
- Last 2 year's Form 16 from Employer or Last 2 Year's Income Tax Returns
- Any Other Income Proof That is Not Reflected in the Above Documents
Income Proof Of Self Employed Or Professional
- Last 2 Year's Income Tax Returns
- Last 2 Year's Certified Financial Statements or Provisional Financial Statements
Income Proof Of (Duly Certified By CA)
- Proof Of Office (any one of the following, Lease Deed, Utility Bill, Title Deed, etc.)
- Any Other Income Proof That is Not Reflected in the Above Documents
Collateral Documentation
- Property Title Deed
- Registered Sale Agreement Along With Society Share Certificate
- Original Registration receipt for the above agreement
- Allotment Letter By Municipal Corporation / Authorized Govt, Commencement Certificate from Municipal Corporation/Council.
- 15 years or 30 years of Title Search (Previous Chain of Sale Deed establishing title) of the property.
- Any other document as prescribed by our empanelled lawyers or chartered engineers from time to time
Accepted Collateral
- Residential Flat
- Residential House
- Non-Agricultural Land
- A Fixed Deposit
Credila Educational Loan FAQ's
1. What are the required factors for the loan?
Credila Education Loan depends on multiple factors such as: Academic background of the student Type of course and University for which education loan is applied for If collateral is offered against the loan or not. Type of collateral offered. Co-borrower/guarantor on the loan. Job profile of the co-borrower etc
2. What is it that you see in the application, rather what do you look out for?
Banks and other lenders normally check: 1. Students past academic track record 2. Quality of institute/college and course the student wish to pursue 3. Student’s ability to get an appropriate job after the course that he/she is seeking education loan for 4. Also, the potential salary is also estimated to calculate eligibility of loan amount 5. Also, credit histories of the applicant and co-applicants play an important role in approval 6. Lastly, the value and type of property being offered as collateral security for higher value loans also play an important role in decision
3. Can I get a special privilege if I am an old HDFC Bank customer?
Yes. HDFC Bank is a group company and we are very sensitive towards our existing customers. You will get best of services and product considerations.
4. Can I avail Education loan, if no one stand as Guarantor for my case?
Credila generally require family members as co-borrowers. It again depends on your overall profile and the study course you are interested in. Credila have different product propositions for different study courses.
About Credila
Credila has funded tens of thousands of students from India to over 2100+ unique educational institutes across 35+ countries
"
Credila Highlights
About Other Banks
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Yes Bank
Canara Bank
Bank of Baroda
About Educational Loans
Accepted Collateral and documentation
Educational Loans will be available for following students:
Indian students attending overseas colleges and
Indian students attending colleges in India
Educational Loan covers the following
All of the tuition fees as applicable for the college/University
Up to 100% of other expenses including
Living and hostel expenses
Examination fees,
Library/laboratory fees,
Purchase of books / equipments/instruments/uniforms
Purchase of computers / laptops considered necessary for completion of the course.
Travel fare restricted to one economy class return ticket between India and the country of study, if applicable
Eligibility
Borrower must be an Indian citizen and must be 18 years of age or older
Co-borrower(s) must be an Indian citizen
Co-borrower(s) must have a bank account in any bank in India
Confirmed admission in to the colleges before Educational Loan disbursement
Borrower and Co-borrower(s) must meet Banks/Financial Institution credit and underwriting norms as applicable from time to time.
Guarantor/Co-borrower Requirements
Borrower must be an Indian citizen and must be 18 years of age or older
It is mandatory to bring in an earning co-borrower(s) based in India to support the Education Loan application.
It is mandatory to bring in an earning co-borrower(s) based in India to support the Education Loan application.
Guarantor/Co-borrower(s) may be any of the following relatives, viz Father / Mother / Brother / Sister(married) /Spouse, where such co-borrower's income would be considered in determining the loan eligibility. And property related to: Father-in-law; Mother-in-law; Sister-in-law; Brother-in-law; Maternal or Paternal Uncle or Aunt, Grandparents also can be accepted.
Guarantor/Co-borrower's liability is co extensive with the Student;
Guarantor/Co-borrower(s) to provide documentary proof to establish their relationship with the student, to the satisfaction of Bank/Financial Institution;
Loan Amount
Borrower must be an Indian citizen and must be 18 years of age or older
Minimum Loan Amount: Rs. 1,00,000 – Rs. 30,00,000
Rate Of Interest
Rate of interest will be floating rate of Interest, generally linked with the base rate of the banks, Present Scenario the Rate of Interest will be 11.5% to 15.0%.
Rate of Interest vary on account of a number of factors such as student's academic background, employability of the selected course from a selected college and country of study, financial strength of the co-borrower, loan repayment capability, credit history, collateral offered or not.
Loan Disbursement
The loan amount will be disbursed in Indian Rupees
The loan will be disbursed in India in Indian Rupees which can be converted to foreign currency for payment of university fees by the student wherever required.
Bank/Financial Institution disburses the tuition fee to the educational institute either directly or through an authorized servicer.
The tuition fee will be disbursed in installment as per the requirement of the specific educational institute.
Repayments of the loan to be made by the borrower in Indian rupees only.
Loan Re-payment Terms
Loan interest re-payment will start immediately after disbursement of the first installment of the loan.
Tenure of an education loan consists of:Duration of Study + free look Period after the Study + Repayment tenor
Maximum tenure up to 10 years
The loan tenure is however, subject to the factors such as the repayment capacity of the customer/s, future prospects of the course, age of the co-applicant, etc. and further subject to credit and underwriting norms as applicable from time to time.
Monthly repayment amount will be deducted from the bank account of the borrower/co-borrower using Electronic Clearing System (ECS).
Problems (at) Educational Loans
The amount of margin money required cannot be raised by the student.
Students who want to study abroad may need to take a loan that is more than the value of the collateral put up.
Income level of the guarantor is too low or the guarantor doesn't have credible Credit Score record.
It is difficult to prove that the college the applicant is going to is a valid college.
Applicant's documents are not in order.
If a student is studying abroad, there are a lot of formalities to be fulfilled and the student may not have accounted for the time that will be consumed.
ApnaLoanBazaar will help you to complete all the formalities with in a smooth manner to avail the Educational loan.
In today's scenario a lot of banks are apprehensive about funding studies abroad. The costs are huge and there is little guarantee that the applicant can get a job there after his/her course is over. You also have to take into account that the number of fake institutions abroad are rising and duping gullible students.
There is no one in the applicant's close family who has a credit score history.
Expert Advice
Best Practices for Educational Loan
Things not to do for Educational Loan
Basics of Educational Loans
There are three factors that you need to understand before applying for a Educational loan: Margin, Collateral and Repayments.
About Kochi
Kochi formerly known as Cochin, this is one of the major port cities located on the West Indian coastal areas. This city of the Ernakulam district of the state of Kerala is situated by the side of the Arabian Sea. Thus, this city is often referred as Ernakulam as well. This 2nd biggest city of Kerala is considered to be the first ranked city in the state for attracting national as well as international tourists. This vibrant city is known for providing breathtakingly scenic view of the Kerala state. Apart from that, this city is the industrial and commercial capital of this state of south India.
The commercial capital and the most cosmopolitan city of Kerala, Kochi along with its mainland part, this was once a major centre of commerce and trade with the British, Arabs, Chinese, Portuguese and Dutch etc.Kochi is the most modern city of Kerala where the best shopping markets are located. From Cochin ships set sail for foreign ports with pepper, seafood, rubber and coir.The King of Cochin always remained only as the title head for it was always under the colonization of foreign invaders.
Places To Be Visited In Kochi
Bolghatty Island
The calming, soothing sound of Athirappilly Falls is the sound that greets the visitor here. Plummeting down 80 feet to Chalakkudy River, the picturesque Athirapilly Falls in Thrissur district is a very famous and very busy tourism destination. Be ready for a mesmerizing spell, right here at the Sholayar forest range.
Chennamangalam
About 4km from Parur,this place houses the oldest synagogue in Kerala. There is also a Jesuit Church and ruins of a Jesuit College . One can also walk to the Hindu Temple overlooking river Periyar, a 16th-century mosque, as well as burial grounds.
Coonan Kurishu Shrine
Located in the heart of the busy Mattancherry is the Coonan Kurishu Shrine which was the venue for about 25,000 Syrian Christians who, in 1653, assembled at the ancient cross in Mattancherry and tied long ropes to it. Pulling the ropes they took a solemn oath that they would never obey the Latin Archbishops or be under the Jesuits.
Cherai Beach
A lovely beach bordering Vypeen island off Cochin , Cherai beach is ideal for swimming. Dolphins are occasionally seen here. A typical Kerala village with paddy fields and coconut groves nearby is an added attraction.It is a popular tourist destination especially among foreigners.
Chottanikkara Temple
Sri Chottanikkara Bhagvathy Temple is the abode of millions of devotees who come here with many woes and pains. The huge golden idol, bedecked with jewels, flowers and various adornments is a sight to behold. Be ready to feel the positive vibrations emanating from the temple and take part in the festivities and poojas(rituals) to remove any afflictions you are suffering from.
Dutch Cemetery
Located a short distance from St. Francis Church, near the entrance to the beach, this cemetry is supposedly maintained by the CSI, but is very badly kept. It is of historical importance, having many famous persons buried here. Most of the grave stones have been removed, but the few that are here are in fairly good condition.However because of the overgrowth of plants and shrubs, it takes a bit of real exploring to discover whose grave stone is whose.