SchoolApply student loan

SchoolApply and Credila are helping students reach their educational goals, providing financial aid.

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Financial aid can determine which school you go to - we think YOU should determine that. That's why we've partnered with Credila - the largest education loan provider in India - to allow more students to access money for college.

How it works

  • 1 Apply for a loanApply and get approved quickly. You can even apply before finalizing your college (or country) of choice.
  • 2 Designate a Co-ApplicantEducational loans require a co-applicant to sign and provide collateral for the loan. This person should be a family member currently living and working in India, as loans are disbursed and paid back in rupees.
  • 3 Get the Most Out of Your EducationCredila's education loans can be used for a wide range of educational activities, including tuition and housing; exam fees; equipment; uniforms; musical instruments; and even laptops.

Educational loans through Credila offers

  • Up to 100% finance
  • Co-borrower flexibility
  • Doorstep service
  • Loan amount over Rs.20 lakhs
  • Loan Sanction before admissions
  • Repayment tenure up to 10 years
  • Attractive rate of interest
  • Less than 100% collateral
  • Tax benefit under Section 80-E of Income tax Act
  • Loan against property mortgaged with HDFC Ltd.
Without an education loan it wouldn't have been possible for me to see what I'm experiencing now, It's more like investment that has a long term result
Ranjan K. Studying in University College Dublin, Ireland

Documents Required

Following are the supporting documents needed to apply for education loan.

Two Passport Size Photos (Applicant and Co-Applicant) One set to be pasted on the Application Form and second set to be affixed (stapled) to the Application Form

Photo ID (Applicant and Co-Applicant, Any one of the following)
Permanent Account Number (PAN) Card, Passport, Driving License, Aadhaar Card, Voter’s ID Card

Residence Proof (Applicant and Co-Applicant, Any one of the following)
Passport, Driving License, Aadhaar Card, Voter’s ID Card

Academic Documents of Student

  • Marksheet/Certificate of 12th Exam
  • Marksheet/Certificate of Subsequent Years of Education e.g. BE, BCom, BSc, etc.
  • Marksheet of Any Entrance Exam Taken e.g. CAT, CET, etc. (If applicable)
  • GRE/GMAT/TOFEL/IELTS, etc. Marksheets (If applicable)
  • Scholarship Documents (if applicable)

Proof Of Admission (If available)
Printed Admission Letter From the Institute on its Letterhead With Institute's Address

Last 8 Months Bank Statements of Co-Applicant (If more than one bank account, provide copies of all)
Make sure to include the bank statements of the Bank Account where Salary or Business/Professional receipts are credited every month.

Income Proof of Co-Applicant

A. In case of Salaried Employee (All of the following)

  • 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

B. In case of Self Employed or Professional (All of the following)

  • Last 2 Year's Income Tax Returns
  • Last 2 Year's Certified Financial Statements or Provisional Financial Statements 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

If, Collateral - Immovable Property (Flat, House, Non-Agriculture Land, All the Relevant Documents from the Following List)

  • Property Title Deed
  • 7 / 12 extracts in case of land
  • Registered Sale Agreement Along With Society Share Certificate
  • Original Registration receipt for the above agreement
  • Allotment Letter By Municipal Corporation / Authorized Govt. Authority Like MHADA, CIDCO, HUDA, DDA, JDA, GIDC etc.
  • Previous Chain of Sale Deed establishing title
  • Latest Maintenance bill alongwith Receipts issued by builder/ society
  • Latest Property tax bill alongwith receipts
  • NOC for mortgage from society/builder
  • Approved building plan
  • Encumbrance certificates as on date etc

Special Note
Other than original completed application form, Please do not provide any original supporting documents at the time of applying for loan. All the copies of the above provided documents should be self-attested.

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