Bharath University signs MoU with Credila for Educational Loans
Posted on: 27/Jul/2011 1:28:23 AM
Financial constraint and anxiety will no longer be a barrier for education. In a move to offer hassle free education loans to the students, Bharath University signed a MoU with Credila, an HDFC Ltd company recently. The MoU will help students to avail education loans at their door steps with minimal documents and flexible repayment options. Students across disciplines from Medical sciences, Engineering, Computer applications and MBA can avail loans from Credila.
Students with a good academic performance in their schoolings and UG streams (For PG loans) are eligible to avail this educational loan. However, the repay capacity would also be considered. The percentage of interest would range from 12.95 % to 13.95 % at present. Credila sanctions 100% of the education loan within 10 days of submitting the required documentation. Credila sanctions the 1st year tuition fee as the initial loan amount. Further loan amount will be sanctioned based on the consistent academic performance of the student.
Commenting on this, Dr. K. P. Thooyamani, Vice-Chancellor, Bharath University said, “Our objective is to provide loans to the needy who cannot afford to pay the tuition fees on their own. Hope our association with Credila will help reduce the loan processing time with minimal constraints.”
Commenting on the association with Bharath University, Mr. Gokulakrishnan, Marketing Manager, Credila says, "We have selected the colleges based on the infrastructure, placement record and the quality of education being offered. Bharath University has been a great support to us. We have flexible loan plans for students, which makes us stand apart". Credila is India’s first dedicated Education Loan Company.
