NMIMS Credila

Do you have any information about Credilas Education Loan for admission in PGDM Program at NMIMS, Mumbai? Actually I have completed B.Tech Degree and want to do PGDM from NMIMS. So someone suggested me to apply for Education Loan from Credila. So please tell me about Credila’s Education Loan?

[Rajkumar Agarwal]

Credila is a subsidiary of Housing Development Finance Corporation (HDFC).

Benefits of Credilas Education Loan are:
Loan sanction for free of cost
No need of admission confirmation
Door Step service
Unsecured Loan up to Rs. 26 Lakhs
Income Tax Benefits under section 80E
Quick & Easy Loan Processing

Product Details for All Programs of NMIMS 2017-19:
Terms Details
Loan Amount Max Loan Amount Rs. 26 Lakhs
Tenure of the Loan Up to 90 months, including the Study period
Rate of Interest Floating rate of interest p.a.*
9.95% (Mumbai Campus)
10.25% (Bangalore, Hyderabad )
Co Applicant Required Yes :Father / Mother / Spouse
One Time Origination Fee Rs. 5,000 + Taxes
Insurance Cover Required for unsecured cases
Income Tax Benefits Available under Section80 E of Income Tax Act'1961

List of Documents:
Passport size Photograph's of Student / Co-borrower and AdditionalCo-borrower (Spouse / Father/ Mother)
Know Your Customer (KYC) Documents:
Educational Document
Financial Documents Co-Borrower: If Salaried-
1. Latest 6 Months Bank Statements where salary is credited every month.
2. Latest 3 Salary Slips or Salary Certificateon Employer's Letterhead.
3. Latest 2 Year's Form 16 from Employer.

Co-Borrower: Self Employed – Professional-
1. Latest 8 Months Current A/c Bank Statements of the Bank Account where Business receipts are creditedevery month.
2. Latest 8 Months Savings A/c Bank Statements.
3. Last 2 Year's Personal Income Tax Returns with IT acknowledgement.
4. Last 2 Year's Company ITR with IT acknowledgement.


Credilas Education Loan for NMIMS