Is education loan repayment on your mind? Here’s why you should choose HDFC Credila.
Education loans have emerged as one of the more prominent ways to fund higher education in India and overseas. With new-age lenders such as HDFC Credila making the end-to-end process seamless for customers, now repaying a loan is also flexible and stress-free with various repayment options available.
Here’s what you can expect when you’re repaying your education loan from HDFC Credila:
Repayment in Easy EMIs
An HDFC Credila Education Loan offers you the flexibility to pay only the simple interest on the loan amount while you continue to pursue your course. Also known as PEMI (or Pre-EMI), opting for this facility significantly reduces your financial outgoing during the study period.
Repayment After Course Completion
The period between course completion and the start of loan repayment is known as the moratorium or grace period. You could choose to start your EMIs at this point, including the principal amount and the interest thereon at the end of the grace period.
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Repayment Tenure of up to 15 Years
HDFC Credila understands that it is exhilarating to embark on the loan repayment journey with your salary on landing your first job! However, it is also likely that the sudden shift to accommodate EMI repayment may be challenging. Hence, the loan product thoughtfully designed by it ensures a smooth transition from student to working professional by offering a longer repayment tenure.
Conclusion
It is always prudent to work in tandem with your lender to understand the repayment method that is best suited to you. This is where HDFC Credila comes in, with education loans that are tailor-made to give wings to your dreams of pursuing higher education overseas. For related in-depth information and to apply for an education loan, visit this site today.