Snapdeal and Credila Partner To Provide Online Education Loans

One of India’s largest e-commerce firm Snapdeal has entered into partnership with one of the leading education loan provider ‘Credila’- An HDFC group company. Both leading companies together has launched the nation’s first customized education loan facility to the eligible students using commerce platform. The collaboration will provide a comparatively faster loan process.

Eligible students from all over the country can apply for education loan through Snap deal. One of the attractive features of this collaboration is that both the firms are offering 100 percent financial assistance for educational purposes. One can borrow up to Rs 20 lakh with easy EMI repayments offer. Although the companies have not mentioned the rate of interest on such loans but the repayment tenure is set to 10 years. The students can also get an option to avail education loan against property mortgaged with HDFC Ltd.

Snapdeal and Credila Partner To Provide Online Education Loans
The joint venture is supposed to ease the education loan process.    (Image: Snapdeal)

Mrs. Chandini Sehgal, Marketing & Channels head at Credila stated that, only 10 percent out of 30 million students in India go for education loans. She mentioned that the partnership with Snapdeal will help them to avail education loans in much more convenient process. Credila is one of the most trusted education loan providers in India and collaboration with leading e-commerce firm will help in establishing a digital ecosystem in the country.

Through education loan process, Snapdeal has covered another milestone in expanding it’s business across the nation. Credila has provided education loan to many of the deserving students currently studying over 35 nations across the globe. With the help of Snapdeal, Credila has ease the process of education loan application process as from now onwards there will be doorstep document collection as well as delivery.

Senior Vice President of Snapdeal, Tony Navin said, “With rising costs of education, student fees has become one of the highest spend that a household incurs”.

Also Read- Why Indian government must focus on Digital Education

Features of Credila Education Loan on Snapdeal

  • The students can avail up to 100 percent financial assistance
  • The company will provide door step services
  • Loan amount maximize up to Rs 20 lakh
  • Easy repayment modes and a total of 10 years period provide for repayment
  • Availability of loan against property mortgaged
  • Loan sans action before admission
  • Affordable rate of interest

So, this comes as a great opportunity for the students who can acknowledge smarter ways getting the inspiration to study well.

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