Education Loan for Germany

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

Credila has a student-friendly education loan application process:
1. Credila informs you about the details of education loan and related terms and conditions.
2. Credila sets an appointment with you for a house visit.
3. Credila's representative visits your house and collects the application form with the supporting documents. They can visit the house of students and parents both, even if they are in different towns. Credila has presence across India.
4. The application goes through credit and underwriting process.
5. Credila checks credit history of the parents and students.
6. Credila visits students and parents for employment and other verifications, valuation reports etc.
7. Credila performs risk analysis using their ‘Predictive Credit Scoring Model’.
8. Credila sanctions or declines the loan.
9. For sanctioned loans, disbursement formalities get completed.
10. Credila disburses the loan amount.

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

Credila finances up to 100% of the cost of education and gives education loans over ₹20 lakhs. Credila also covers living expenses in addition to the tuition fee.

No. You can apply for an education loan before getting admission confirmation from the 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 Credila. Students and parents feel confident to apply for better colleges, without worrying about how to fund the education cost.

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

Fully completed application form, photos, photo ID, residence proof, academic documents, proof of admission, bank statement, income proof of co-applicant, immovable property documents.

It depends on multiple factors such as:
1. Academic background of the student
2. Type of course and university for which the education loan is applied for
3. Whether collateral is offered against the loan or not, and the type of collateral
4. Co-borrower/guarantor on the loan and the job profile of the co-borrower etc.

The loan application will be processed in two phases:
1. For in-principle sanction
2. For disbursement of funds

The in-principal sanction letter is given in about 7 to 10 days from the date of receipt of the completed application form along with the supporting documents from the customer. The disbursement is completed within 7 days from the date of receipt of all post-sanction documents and completion of the underlying post-sanction process by the customer.

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

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