Update On :26 September 2015
Ecommerce firm Snapdeal has partnered with educational loans provider Credila, an HDFC group company, to offer customised educational loans to students at the click of a mouse.
Students can now avail loans up to 100% funding for a variety of educational needs, just at the click of a mouse. There is no upper cap on loan with easy EMI repayments at attractive rates of interest. One can take loan for amount over Rs 20 lakh while repayment tenure could be up to 10 years, the companies said in a release.
But, companies have not mentioned rate of interests on such education loans.
Even students can borrow against property mortgaged with HDFC Ltd, India's largest housing finance company.
"From a student population of 30 million in the country, less than 10 per cent avail education loans," Chandini Sehgal, Head- Marketing & Channels at Credila said in a release. "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."
The firm has funded thousands of students studying in over 35 countries across the globe. 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.
News Source From : http://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/snapdeal-partners-with-credila-to-offer-education-loans/49069039