Why Should You Choose Hexafin for an Education Loan for UK
A simpler way to pay
We make getting an education loan easy so that you can focus on what matters most, your education.
The benefit of tax saving
Tax deductions* that help bring down your cost of financing.
Flexible repayment schedules
Repayment tenures of up to 15 years.
We cover it all
Up to 100% financing of tuition and cost of living.
Pan-India network of branches
Enjoy multi-city co-borrower(s) and collateral acceptance.
Friendly rates. All the way.
Customised interest rates that fit your need.
Dream big. Achieve bigger.
Exploring funding for larger education costs? Not a problem.
No hidden charges
What you see is what you pay.
*This is subject to restrictions imposed under the Income Tax Act, 1961 and Budget 2025.
How to Apply for an Education Loan
Follow this 3 simple steps
Documents Required
Documents required for an education loan application vary based on the borrower’s profile and the type of education loan the borrower applies for.
KYC Documents of the applicant and all co-applicants
Academic Records
- Marksheet or Certificate for Grade 12 or equivalent.
- Marksheet or Certificate for the last semester/year/degree (e.g. B.E., B.Com., B.Sc. etc.).
- Scholarship Documents (if applicable).
Proof of Admission
You must submit the college/university admission/acceptance letter when received.
Statement of cost of studies/ Schedule of expenses
You need to submit the fee structure from the college or university, mentioning the course fee and the estimated living expenses.
Income Proof of Co-applicant/ Guarantor, where applicable
- Salaried
- Latest 3 Salary Slips or Salary Certificate on employer’s letterhead.
- Latest one year’s Form 16 from the employer along with one year’s Income Tax Returns.
- Any other income proof that is not reflected in the above documents, viz., Rent Agreement etc.
- Self-Employed Professional
- Latest two years’ Income Tax Returns with I.T. acknowledgement.
- Latest two years’ Audited Financials of the Company including Computation of Income, Balance Sheet, P&L along with all the Schedules.
- 3CB & 3CD for Professionals with a turnover of more than INR 15 lakh and for others whose turnover is more than INR 60 lakh* .
Additional DocumentsIn addition to the above, the following documents are to be submitted- Proof of Establishment of the Firm (Shop Act, TIN No, Service Tax registration copy, SSI Certificate etc.).
- Copy of qualification or degree certificate.
- Self-Employed Non-Professional
- Latest two years’ Income Tax Returns with I.T. acknowledgement.
- Latest two years’ Audited Financials of the Company including Computation of Income, Balance Sheet, P&L along with all the Schedules.
- 3CB & 3CD for Professionals with a turnover of more than INR 15 lakh and for others whose turnover is more than INR 60 lakh* .
Additional DocumentsIn addition to the above, the following documents are to be submitted- For Proprietors: Proof of Establishment of the Firm (Shop Act, TIN No, Service Tax Registration Copy, SSI Certificate etc.)
- Partnership: Copy of Partnership deed.
- Private Company: Articles of Association (AoA), Memorandum of Association (MoA) and Shareholding Pattern Certified by the C.A.
Bank Account Statements
- Salaried
- Latest six months Bank Statements are required where your salary is credited every month.
- Self-Employed Professional / Proprietorship/ Partnership / Private Limited Company
- Latest 8-month Current Account Bank Statement of the Bank Account where business receipts are credited every month.
- Latest eight months Saving Account Bank Statements.
Property Documents, where applicable
Other Documents, as applicable
- Any document to establish the relationship between the student and co-applicant, viz., Ration card, Marriage Certificate, Birth Certificate, School Leaving Certificate, etc
- Account Statement for loans or credit cards that had delays in payment (as proof of clarification).
- For students with past work experience, the last drawn salary slip.
- Proof of balance funds.
- Notes
- The audit report, duly signed and verified by the Chartered Accountant, must be given in such form, setting forth such particulars as prescribed by the Board. Rule 6G of the I.T. Act provides that such audit reports and particulars should be given in Forms No. 3CA/3CB as applicable, and the statement of particulars should be given in Form No. 3CD.
- For Salaried/SEP/SENP Co-applicant: Saving Bank statement should be up to 15 days before the login date.
- For Self Employed Professional/Non-Processional Co-applicant: Current/O.D. bank statement should be up to 30 days before the login date.
- Copy of PAN Card or Passport is compulsory for all Income Earning/Retired Co-applicants.
Ready Set Apply
We recommend that students secure their education financing as early as possible. Doing so not only helps avoid cramming and surprises at the last minute but also helps you focus on your college applications.
The Benefits of starting loan application process early
Know your loan eligibility in advance
Planning and preparation are key to avoiding last-minute surprises
Avoid last-minute delays
A hassle-free procedure that may help you secure admission in time.
Frequently Asked Questions
Don’t know where to start? We are here to help.
What is the Organizatyion Fee (OF) and why it is Required
Don’t know where to start? We are here to help.
What is the time taken to process my loan application
Credila aims to process a loan application within 21 days, upon receipt of complete documentation.
What are the application prepayment and/ or foreclosure charges?
Some Banks does not apply any prepayment and/ or foreclosure charges on an education loan availed.
WHy is the e-mandate amount higher than my actual monthly installment (MI)? When Banks Deduct the Amount?
The e-mandate amount is 1.5 times higher than your actual MI to facilitate the borrower. Take a scenario wherein the borrower may request changes to their MI – to avoid requesting for a fresh mandate at each instance, a mandate with a higher amount typically covers all eventualities.
Are there any interest rate benefits available for the girl child / female students?
Currently, Credila does not offer a preferential interest rate for the girl child/ female students. We do aim to provide a competitive rate of interest, together with an attractive tax benefit, that effectively brings down the cost of your loan, which is applicable to all students.
