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Snapdeal and Credila Launch India’s First Online Education Loan on an Ecommerce Platform

Credila

Snapdeal, India’s largest online marketplace in partnership with educational loans specialists Credila – An HDFC group Company, has launched the country’s first customized education loans offering on an e-commerce platform. With increasing need for personalized loans for a variety of educational needs, the partnership will usher faster loan process, at the click of a button. Customers will have the opportunity to avail exciting benefits like up to 100% finance of their education with no upper cap on loan and easy EMI repayments at attractive rates of interest.

Speaking about the partnership, Tony Navin, Senior Vice President, Partnerships and strategic initiatives, Snapdeal said “Our aim is to create a digital commerce platform that caters to diverse consumption needs of our consumers. With rising costs of education, student fees has become one of the highest spends that a household incurs. With a trusted partner like Credila that specializes in education financing, the customized study loan will be a great addition to Snapdeal’s portfolio of Financial Services offerings. We are consistently expanding our Financial Services offerings for our customers, providing hassle-free application and disbursal services through our partners, in line with our overarching vision of creating the most impactful digital commerce ecosystem in the country”

Chandini Sehgal, Head- Marketing & Channels at Credila commented “This association marks a historic beginning of having education loan accessible through an e-commerce platform. From a student population of 30 million in the country, less than 10% avail education loans. Factoring in specific consumer requirements, Credila has developed customized loan plans which have made us one of the most trusted education loan providers in India. Our synergistic partnership with Snapdeal will enable us to extend our reach to a vast audience, enabling convenient access and seamless loan application through the online marketplace.”

Credila has a simplified online application process, a convenient doorstep document-collection and delivery service in multiple cities across the country and has funded thousands of students studying in over 35 countries across the globe. The special privileges & benefits on allied products relevant for students makes Credila’s Loan offering even more exciting. This education loan is the latest addition to Snapdeal’s expanding portfolio of financial services which includes personal loans, home loans and co-branded Snapdeal HDFC credit card.

Features of Credila Education Loan on Snapdeal:

  • Up to 100% finance
  • Doorstep service
  • Loan amount over Rs.20 lakhs available
  • Repayment tenure of up to 10 years (Easy EMIs)
  • Less than 100% collateral
  • Co-borrower flexibility
  • Loan against property mortgaged with HDFC Ltd.
  • Loan Sanction before admissions also
  • Attractive rate of interest
  • Tax benefit under Section 80-E of Income tax Act
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