{"id":15629,"date":"2025-02-13T17:47:58","date_gmt":"2025-02-13T12:17:58","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=15629"},"modified":"2025-08-02T11:03:05","modified_gmt":"2025-08-02T05:33:05","slug":"credila-education-loan-repayment","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/education-loan\/credila-education-loan-repayment\/","title":{"rendered":"Credila Education Loan Repayment: Guide &amp; Tips"},"content":{"rendered":"\n<p>Navigating the repayment of an education loan can seem daunting, but Credila Financial Services Limited (formerly HDFC Credila) makes it seamless with flexible, borrower-friendly options. Whether you&#8217;re an Indian student pursuing studies in India or abroad, or a co-applicant supporting the loan, understanding Credila\u2019s repayment terms, options, and strategies is key to stress-free financial planning.<\/p>\n\n\n\n<p>This guide offers a detailed overview of Credila\u2019s education loan repayment process, including key features, repayment methods, tax benefits, and practical tips to manage your loan effectively.<\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2 id=\"table-of-contents\">Table of contents<\/h2><ul><li><a href=\"#h-what-is-credila-education-loan-repayment\" data-level=\"2\">What is Credila Education Loan Repayment?<\/a><ul><li><a href=\"#h-what-is-the-credila-education-loan-moratorium-period\" data-level=\"3\">What is the Credila Education Loan Moratorium Period?<\/a><\/li><\/ul><\/li><li><a href=\"#h-credila-education-loan-emi-repayment-period\" data-level=\"2\">Credila Education Loan EMI Repayment Period<\/a><ul><li><a href=\"#h-credila-education-loan-prepayment-and-part-payment-options\" data-level=\"3\">Credila Education Loan Prepayment and Part-Payment Options<\/a><\/li><li><a href=\"#h-repayment-channels-for-credila\" data-level=\"3\">Repayment Channels for Credila<\/a><\/li><li><a href=\"#h-role-of-co-applicants-in-credila-loan-repayment\" data-level=\"3\">Role of Co-Applicants in Credila Loan Repayment<\/a><\/li><\/ul><\/li><li><a href=\"#h-credila-loan-repayment-schedule-and-emi-adjustment\" data-level=\"2\">Credila Loan Repayment Schedule and EMI Adjustment<\/a><\/li><li><a href=\"#h-faqs\" data-level=\"2\">FAQs<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-credila-education-loan-repayment\"><span id=\"what-is-credila-education-loan-repayment\">What is Credila Education Loan Repayment?<\/span><\/h2>\n\n\n\n<p>Credila, a leading Non-Banking Financial Company (NBFC) in India, provides tailored education loans with repayment plans designed to ease financial burdens during and after studies. Repayment typically begins after a moratorium period, but borrowers can opt to pay interest early to reduce the overall loan cost. <\/p>\n\n\n\n<p>With features like up to 100% financing, no margin money, and tenures up to 15 years, Credila supports students holistically. Let&#8217;s explore the repayment structure and key features of Credila education loans:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>100% Financing<\/strong>: Covers tuition fees, living expenses, travel, books, laptops, and more.<\/li>\n\n\n\n<li><strong>No Margin Money<\/strong>: No upfront payment required from borrowers.<\/li>\n\n\n\n<li><strong>Flexible Tenure<\/strong>: Repayment periods extend up to 15 years.<\/li>\n\n\n\n<li><strong>Tax Benefits<\/strong>: Deduction on interest paid under Section 80E of the Income Tax Act, 1961 (old tax regime).<\/li>\n\n\n\n<li><strong>0% TCS<\/strong>: No Tax Collected at Source on foreign remittances for education.<\/li>\n\n\n\n<li><strong>Loan Options<\/strong>: Secured loans start at 9.75% p.a. onwards; collateral is required only for secured loans.<\/li>\n\n\n\n<li><strong>Fully Digital Process<\/strong>: Online application and repayment management.<\/li>\n\n\n\n<li><strong>No Prepayment Charges<\/strong>: Pay off your loan early without penalties.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-what-is-the-credila-education-loan-moratorium-period\"><span id=\"what-is-the-credila-education-loan-moratorium-period\">What is the Credila Education Loan Moratorium Period?<\/span><\/h3>\n\n\n\n<p>The moratorium period, or repayment holiday, is a grace period during which borrowers are not required to repay the principal amount. For Credila education loans, this typically includes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Duration<\/strong>: Course duration plus up to 12 months or 6 months after securing employment, whichever is earlier.<\/li>\n\n\n\n<li><strong>Interest Payment Option<\/strong>: Paying interest during the moratorium is optional but recommended, as it:\n<ul class=\"wp-block-list\">\n<li>Reduces the principal amount.<\/li>\n\n\n\n<li>Lowers the total interest burden.<\/li>\n\n\n\n<li>Builds financial discipline and boosts your credit score.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>Benefit<\/strong>: The moratorium allows students to focus on academics without immediate repayment pressure.<\/p>\n\n\n\n<p class=\"has-text-align-center has-pale-ocean-gradient-background has-background\"><strong>Also Read: <a href=\"https:\/\/fly.finance\/blog\/education-loan\/affidavit-for-education-loan\/\">What is an Affidavit for an Education Loan?<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-credila-education-loan-emi-repayment-period\"><span id=\"credila-education-loan-emi-repayment-period\">Credila Education Loan EMI Repayment Period<\/span><\/h2>\n\n\n\n<p>Once the moratorium period ends, the borrower needs to start repaying the loan in Equated Monthly Installments (<a href=\"https:\/\/fly.finance\/blog\/education-loan\/full-form-of-emi\/\"><strong>EMI<\/strong><\/a>). The EMI consists of both the principal and interest components and is calculated based on the loan amount, interest rate, and tenure. Credila offers:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Interest Rate<\/strong>: Starting at 9.75% p.a. for secured loans (rates vary based on loan type, credit profile, and co-applicant\u2019s financial stability).<\/li>\n\n\n\n<li><strong>Tenure<\/strong>: Up to 15 years, providing flexibility to manage monthly payments.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>EMI Calculations<\/strong><\/p>\n\n\n\n<p>The EMI is calculated using the following formula:<\/p>\n\n\n\n<p class=\"has-text-align-center has-background has-medium-font-size\" style=\"background-color:#20ff0052\"><strong>EMI = [P x r x (1+r)<sup>n<\/sup>] \/ [(1+r)<strong><sup>n<\/sup><\/strong><sup>&#8211; 1<\/sup>]<\/strong><\/p>\n\n\n\n<p>Where:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>P<\/strong> = Principal loan amount<\/li>\n\n\n\n<li><strong>r<\/strong> = Monthly interest rate (annual rate divided by 12)<\/li>\n\n\n\n<li><strong>n<\/strong> = Loan tenure in months<\/li>\n<\/ul>\n\n\n\n<p>For example, for an INR 10 lakh secured loan at 9.75% p.a. over 10 years (120 months), the EMI is approximately INR 19,300 (calculated using standard EMI calculators).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-credila-education-loan-prepayment-and-part-payment-options\"><span id=\"credila-education-loan-prepayment-and-part-payment-options\">Credila Education Loan Prepayment and Part-Payment Options<\/span><\/h3>\n\n\n\n<p>Credila allows borrowers to make early repayments or make part-payments towards their education loan without incurring any prepayment penalties. <span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">Most banks and financial institutions do not implement any&nbsp;<a href=\"https:\/\/fly.finance\/blog\/education-loan\/early-repayment-charge-of-education-loan\/\" target=\"_blank\"><strong>early repayment charges on education loans<\/strong><\/a>.<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Reduced Interest Burden<\/strong>: Paying off the principal early lowers the total interest paid.<\/li>\n\n\n\n<li><strong>Shortened Tenure<\/strong>: Lump-sum payments can reduce the loan duration, freeing borrowers from debt sooner.<\/li>\n\n\n\n<li><strong>No Penalties<\/strong>: Unlike some lenders, Credila does not charge fees for early repayments.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>How to Make Prepayments<\/strong><\/p>\n\n\n\n<p>Borrowers can log into the Credila portal or visit a branch to make additional payments. These payments are applied directly to the principal, reducing future EMIs or the loan tenure.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-repayment-channels-for-credila\"><span id=\"repayment-channels-for-credila\">Repayment Channels for Credila<\/span><\/h3>\n\n\n\n<p>Credila provides multiple repayment options for borrowers to ensure timely payments and maintain a strong credit score. Check some of the common channels of payment below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Online Payment via Credila Portal<\/strong>: Pay using Net Banking, UPI, or Debit Card.<\/li>\n\n\n\n<li><strong>Electronic Clearing Service (ECS)<\/strong>: Set up automatic EMI deductions from your bank account.<\/li>\n\n\n\n<li><strong>National Automated Clearing House (<a href=\"https:\/\/fly.finance\/blog\/full-form\/full-form-of-nach\/\">NACH<\/a>)<\/strong>: Schedule automated electronic payments.<\/li>\n\n\n\n<li><strong>Post-Dated Cheques (PDCs)<\/strong>: Submit cheques for EMI amounts at a Credila branch.<\/li>\n\n\n\n<li><strong>Standing Instructions (SI)<\/strong>: Authorize monthly EMI debits from your account.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-role-of-co-applicants-in-credila-loan-repayment\"><span id=\"role-of-co-applicants-in-credila-loan-repayment\">Role of Co-Applicants in Credila Loan Repayment<\/span><\/h3>\n\n\n\n<p>In Credila education loans, a co-applicant (generally a parent or guardian) is required. If the student is unable to start repayment due to unforeseen circumstances, such as a delay in employment, the co-applicant becomes responsible for loan repayment.<\/p>\n\n\n\n<p class=\"has-text-align-center has-pale-ocean-gradient-background has-background\"><strong>Also Read: <a href=\"https:\/\/fly.finance\/blog\/education-loan\/education-loan-for-ca-students-to-study-abroad\/\">Education Loan for CA Students to Study Abroad<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-credila-loan-repayment-schedule-and-emi-adjustment\"><span id=\"credila-loan-repayment-schedule-and-emi-adjustment\">Credila Loan Repayment Schedule and EMI Adjustment<\/span><\/h2>\n\n\n\n<p>Borrowers can check the Credila loan repayment schedule by:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Accessing the Schedule<\/strong>: Log in to the Credila portal or download the EMI statement.<\/li>\n\n\n\n<li><strong>Adjusting EMIs<\/strong>:\n<ul class=\"wp-block-list\">\n<li>Make prepayments to reduce EMI amounts.<\/li>\n\n\n\n<li>Request a tenure extension to lower monthly EMIs (subject to approval).<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Payment Allocation<\/strong>: Payments are first applied to overdue loans (if any), then distributed proportionally across loans in a loan group based on monthly installments.<\/li>\n<\/ul>\n\n\n\n<p><strong>Note<\/strong>: Timely payments prevent delinquency and protect your credit score.<\/p>\n\n\n\n<h2 id=\"documents-required-for-loan-application\" class=\"wp-block-heading\">Documents Required for Loan Application<\/h2>\n\n\n\n<p>To streamline loan approval and repayment setup, ensure the following documents are submitted:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Application Form<\/strong>: Completed digital or original form.<\/li>\n\n\n\n<li><strong>KYC Documents<\/strong>:\n<ul class=\"wp-block-list\">\n<li>PAN Card or Form No. 60.<\/li>\n\n\n\n<li>One of: Passport, Driving License, Voter ID, Aadhaar, NREGA Job Card, or NPR letter.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Education Documents<\/strong>:\n<ul class=\"wp-block-list\">\n<li>12th or equivalent marksheet (if applicable).<\/li>\n\n\n\n<li>Latest degree\/semester marksheet.<\/li>\n\n\n\n<li>Entrance exam scores (e.g., GRE\/GMAT\/TOFEL\/IELTS\/DUOLINGO\/CAT\/CET).<\/li>\n\n\n\n<li>Admission letter or I-20 (if received).<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Financial Documents (Co-Applicant)<\/strong>:\n<ul class=\"wp-block-list\">\n<li><strong>Salaried<\/strong>: 6 months\u2019 bank statements, recent salary slip.<\/li>\n\n\n\n<li><strong>Self-Employed<\/strong>: 6 months\u2019 current\/savings account statements, 2 years\u2019 ITRs, business proof (e.g., GST registration).<\/li>\n\n\n\n<li><strong>No-Income\/Pensioner<\/strong>: 6 months\u2019 savings account statements or pension order.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Collateral Documents (Secured Loans)<\/strong>: Sale deed, property tax receipt, approved building plan, or occupation certificate.<\/li>\n<\/ul>\n\n\n\n<p><strong>Tip<\/strong>: Keep digital copies ready for Credila\u2019s fully online application process (processing time: up to 15 days).<\/p>\n\n\n\n<h3 id=\"tax-benefits-and-other-perks\" class=\"wp-block-heading\">Tax Benefits and Other Perks<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Section 80E<\/strong>: Claim tax deductions on interest paid (old tax regime).<\/li>\n\n\n\n<li><strong>0% TCS<\/strong>: No tax on foreign remittances for education purposes.<\/li>\n\n\n\n<li><strong>Top-Up Loans<\/strong>: Available based on eligibility.<\/li>\n\n\n\n<li><strong>Mandatory Insurance<\/strong>: Subject to solicitation, providing added security.<\/li>\n\n\n\n<li><strong>Travel Expenses<\/strong>: Covered, including bank transfer allowances.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-text-align-center has-pale-ocean-gradient-background has-background\"><strong>Also Read: <a href=\"https:\/\/fly.finance\/blog\/money-transfer\/forex-card\/list-of-top-student-forex-cards-for-malaysia\/\">List of Top Student Forex Cards for Malaysia<\/a><\/strong><\/p>\n\n\n\n<p>Credila Financial Services Limited offers a robust education loan repayment structure designed for flexibility and ease. With up to 100% financing, no prepayment penalties, tax benefits, and a fully digital process, Credila empowers Indian students to pursue their academic dreams without financial stress. By understanding the moratorium, repayment options, and leveraging prepayments, borrowers can manage their loans efficiently and build a strong financial foundation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span id=\"faqs\">FAQs<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1728999707852\"><strong class=\"schema-faq-question\">What are Credila\u2019s repayment options?<\/strong> <p class=\"schema-faq-answer\">Credila provides multiple repayment options for borrowers, like Electronic Clearing Service (ECS), National Automated Clearing House (NACH), post-dated cheques, and standing instructions (SI) for automatic debit from the borrower\u2019s bank account.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1728999696498\"><strong class=\"schema-faq-question\">When does the repayment of the Credila education loan begin?<\/strong> <p class=\"schema-faq-answer\">The Credila education loan repayment generally starts after the completion of the course. It offers a moratorium period of the course period, plus one year or 6 months after getting a job.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1753973026168\"><strong class=\"schema-faq-question\">Why is the e-mandate amount higher than my monthly installment (MI)?<\/strong> <p class=\"schema-faq-answer\">The e-mandate is set at 1.5 times the MI to accommodate potential changes in installments, avoiding the need for new mandates. Deductions occur as per the agreed EMI schedule.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1753973062636\"><strong class=\"schema-faq-question\">What is the maximum loan amount Credila provides?<\/strong> <p class=\"schema-faq-answer\">Credila offers up to 100% financing, covering tuition fees, living expenses, travel, books, laptops, and other study-related costs.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1753973600916\"><strong class=\"schema-faq-question\">How to prepay a Credila loan?<\/strong> <p class=\"schema-faq-answer\">To prepay a Credila education loan, log into the Credila portal, navigate to the repayment section, and select your preferred payment mode (Net Banking, UPI, or Debit Card). Alternatively, visit a Credila branch to make payments. Prepayments are applied directly to the principal, reducing future EMIs or loan tenure, with no penalties charged.<\/p> <\/div> <\/div>\n\n\n\n<p>To know more about <a href=\"https:\/\/fly.finance\/loans\"><strong>education loans<\/strong><\/a>, the best <a href=\"https:\/\/fly.finance\/international-bank-account\"><strong>bank accounts for students<\/strong><\/a>, <a href=\"https:\/\/fly.finance\/forex\"><strong>forex<\/strong><\/a> and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-pale-ocean-gradient-background has-background has-fixed-layout\"><tbody><tr><td colspan=\"2\"><strong>Related Blogs<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/nainital-bank-education-loan-for-abroad\/\"><strong>Nainital Bank Education Loan For Abroad<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/minimum-family-income-requirements-for-education-loan\/\"><strong>Minimum Family Income Requirements For Education Loan<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/issues-after-education-loan-sanction\/\"><strong>Issues After Education Loan Sanction<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/indusind-bank-education-loan\/\"><strong>IndusInd Bank Education Loan<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/impact-of-loan-restructure-on-credit-score\/\"><strong>Impact Of Loan Restructure On Credit Score<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/how-to-obtain-solvency-certificate\/\"><strong>How To Obtain a Solvency Certificate<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/how-to-get-an-education-loan\/\"><strong>How To Get An Education 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M16.804,6.116c-0.596,0-1.08,0.484-1.08,1.08 s0.484,1.08,1.08,1.08c0.596,0,1.08-0.484,1.08-1.08S17.401,6.116,16.804,6.116z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Instagram<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-linkedin  wp-block-social-link\"><a href=\"https:\/\/www.linkedin.com\/company\/flyfinance\/\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M19.7,3H4.3C3.582,3,3,3.582,3,4.3v15.4C3,20.418,3.582,21,4.3,21h15.4c0.718,0,1.3-0.582,1.3-1.3V4.3 C21,3.582,20.418,3,19.7,3z M8.339,18.338H5.667v-8.59h2.672V18.338z M7.004,8.574c-0.857,0-1.549-0.694-1.549-1.548 c0-0.855,0.691-1.548,1.549-1.548c0.854,0,1.547,0.694,1.547,1.548C8.551,7.881,7.858,8.574,7.004,8.574z M18.339,18.338h-2.669 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c0,1.424,0.724,2.679,1.825,3.415c-0.673-0.021-1.305-0.206-1.859-0.513c0,0.017,0,0.034,0,0.052c0,1.988,1.414,3.647,3.292,4.023 c-0.344,0.094-0.707,0.144-1.081,0.144c-0.264,0-0.521-0.026-0.772-0.074c0.522,1.63,2.038,2.816,3.833,2.85 c-1.404,1.1-3.174,1.756-5.096,1.756c-0.331,0-0.658-0.019-0.979-0.057c1.816,1.164,3.973,1.843,6.29,1.843 c7.547,0,11.675-6.252,11.675-11.675c0-0.178-0.004-0.355-0.012-0.531C20.985,7.47,21.68,6.747,22.23,5.924z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Twitter<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-facebook  wp-block-social-link\"><a href=\"https:\/\/www.facebook.com\/Flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12 2C6.5 2 2 6.5 2 12c0 5 3.7 9.1 8.4 9.9v-7H7.9V12h2.5V9.8c0-2.5 1.5-3.9 3.8-3.9 1.1 0 2.2.2 2.2.2v2.5h-1.3c-1.2 0-1.6.8-1.6 1.6V12h2.8l-.4 2.9h-2.3v7C18.3 21.1 22 17 22 12c0-5.5-4.5-10-10-10z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Facebook<\/span><\/a><\/li><\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Navigating the repayment of an education loan can seem daunting, but Credila Financial Services Limited (formerly HDFC Credila) makes it seamless with flexible, borrower-friendly options. Whether you&#8217;re an Indian student pursuing studies in India or abroad, or a co-applicant supporting the loan, understanding Credila\u2019s repayment terms, options, and strategies is key to stress-free financial planning. &#8230; <a title=\"Credila Education Loan Repayment: Guide &amp; Tips\" class=\"read-more\" href=\"https:\/\/fly.finance\/blog\/education-loan\/credila-education-loan-repayment\/\" aria-label=\"Read more about Credila Education Loan Repayment: Guide &amp; Tips\">Read more<\/a><\/p>\n","protected":false},"author":24,"featured_media":20426,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-15629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Credila Education Loan Repayment: Guide &amp; Tips<\/title>\n<meta name=\"description\" content=\"Learn how to repay your Credila education loan with flexible options, moratorium details, and prepayment benefits. 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With expertise in crafting informative blogs on study abroad and finance, Shekhar helps readers navigate the complexities of education and financial planning. Most of his writings blend the practicality of finance and the beauty of language, making a meaningful impact in both spheres. Beyond his professional pursuits, he finds solace in the writing Shayari.","sameAs":["https:\/\/in.linkedin.com\/in\/thahankmoody","https:\/\/www.tumblr.com\/blog\/dhanlabh"],"url":"https:\/\/fly.finance\/blog\/author\/shekhar\/"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/credila-education-loan-repayment\/#faq-question-1728999707852","position":1,"url":"https:\/\/fly.finance\/blog\/education-loan\/credila-education-loan-repayment\/#faq-question-1728999707852","name":"What are Credila\u2019s repayment options?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Credila provides multiple repayment options for borrowers, like Electronic Clearing Service (ECS), National Automated Clearing House (NACH), post-dated cheques, and standing instructions (SI) for automatic debit from the borrower\u2019s bank account.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/credila-education-loan-repayment\/#faq-question-1728999696498","position":2,"url":"https:\/\/fly.finance\/blog\/education-loan\/credila-education-loan-repayment\/#faq-question-1728999696498","name":"When does the repayment of the Credila education loan begin?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The Credila education loan repayment generally starts after the completion of the course. It offers a moratorium period of the course period, plus one year or 6 months after getting a job.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/credila-education-loan-repayment\/#faq-question-1753973026168","position":3,"url":"https:\/\/fly.finance\/blog\/education-loan\/credila-education-loan-repayment\/#faq-question-1753973026168","name":"Why is the e-mandate amount higher than my monthly installment (MI)?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The e-mandate is set at 1.5 times the MI to accommodate potential changes in installments, avoiding the need for new mandates. Deductions occur as per the agreed EMI schedule.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/credila-education-loan-repayment\/#faq-question-1753973062636","position":4,"url":"https:\/\/fly.finance\/blog\/education-loan\/credila-education-loan-repayment\/#faq-question-1753973062636","name":"What is the maximum loan amount Credila provides?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Credila offers up to 100% financing, covering tuition fees, living expenses, travel, books, laptops, and other study-related costs.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/credila-education-loan-repayment\/#faq-question-1753973600916","position":5,"url":"https:\/\/fly.finance\/blog\/education-loan\/credila-education-loan-repayment\/#faq-question-1753973600916","name":"How to prepay a Credila loan?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"To prepay a Credila education loan, log into the Credila portal, navigate to the repayment section, and select your preferred payment mode (Net Banking, UPI, or Debit Card). Alternatively, visit a Credila branch to make payments. Prepayments are applied directly to the principal, reducing future EMIs or loan tenure, with no penalties charged.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/15629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/comments?post=15629"}],"version-history":[{"count":19,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/15629\/revisions"}],"predecessor-version":[{"id":20430,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/15629\/revisions\/20430"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media\/20426"}],"wp:attachment":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media?parent=15629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/categories?post=15629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/tags?post=15629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}