Snapdeal, HDFC Credila Launch Online Education Loan

September 22, 2015

Online marketplace Snapdeal, teamed up with educational loans specialists HDFC Credila - An HDFC group company, to launch customised education loans through an e-commerce platform.

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 with no upper cap on loan and easy EMI repayments at attractive rates of interest.

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 HDFC 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."

HDFC 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 and 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.

Chandini Sehgal, Head-Marketing & Channels at HDFC Credila said, "From a student population of 30 million in the country, less than 10 per cent avail education loans. Factoring in specific consumer requirements, HDFC Credila has developed customized loan plans which have made us one of the most trusted education loan providers in India."