Snapdeal,HDFC Credila come together to launch online education loan platform

September 22, 2015

Online marketplace Snapdeal today tied up with educational loans specialists HDFC Credila - an HDFC group company to launch the country’s first customised education loans offering on an e-commerce platform.

With increasing need for personalised 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 per cent finance of their education with no upper cap on loan and easy EMI repayments at attractive rates of interest, said the company.

"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 HDFC Credila that specialises in education financing, the customised study loan will be a great addition to Snapdeal’s portfolio of financial services offerings", said Tony Navin, Senior Vice President, Partnerships and Strategic Initiatives, Snapdeal in a statement.

The 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 per cent avail education loans.