Credila Education Loan Eligibility Criteria – Full Guide for 2025

To get a Credila Education Loan, you must be an Indian citizen, 18 years or older, with a confirmed or conditional admission from a recognized university. A co-applicant with a steady income is mandatory. Your academic profile, entrance test scores, and co-applicants creditworthiness decide whether you qualify for a collateral or non-collateral loan.

Here’s everything you need to know to check if you're eligible.

Who Can Apply for a Credila Education Loan?

Basic Eligibility

• Must be an Indian citizen
• Minimum age: 18 years
• Should have a confirmed or conditional offer letter from a university (India or abroad)

Academic Requirements

• Good academic performance in 10th, 12th, and graduation
• Valid scores in entrance exams like GRE, GMAT, IELTS, TOEFL, or Duolingo
• Strong profiles improve chances for non-collateral loans

Co-Applicant Eligibility Criteria

Every applicant must have a co-applicant, even for collateral loans. This improves loan approval and financial trust.

Who Can Be a Co-Applicant?

• Parent (Father or Mother)
• Sibling (Brother or Sister)
• Spouse or Legal Guardian

Financial Requirements

• Regular income from job or business
• Positive CIBIL score
• Must provide income proof (salary slips, ITR, bank statements)

Eligibility for Collateral and Non-Collateral Loans

For Secured (Collateral) Loans:

• Property, fixed deposit, or liquid security accepted
• Must be owned by the applicant or close family
• Higher loan amounts are possible

For Unsecured (Non-Collateral) Loans:

• Must have strong academics and admission into top-ranked global universities
• Co-applicant must have stable, high income
• Loan amount is limited (based on profile)

Read the full list of required documents: Documents Required for Credila Loan

How to Improve Your Eligibility

• Score well in IELTS, GRE, GMAT, or Duolingo
• Choose top universities with good visa acceptance rates
• Include co-applicants with high income and clean credit history
• Apply through Student Cover to get a discounted processing fee and faster AI-based evaluation

Want lower interest rates? Read the Credila Interest Rate & Processing Fee Guide

Quick Eligibility Checklist

✅ If you match all, you’re ready to apply.

📞 Call +91-9871377966 or visit Student Cover

FAQs – Credila Loan Eligibility

Can I apply without a final admission letter?

Yes, you can apply with a conditional offer. The final sanction needs confirmed admission.

Is a co-applicant required even if I offer collateral?

Yes, a co-applicant is mandatory for all loans.

What if my co-applicant’s credit score is low?

You may be asked to add a stronger co-applicant or provide collateral.

Can I apply for a non-collateral loan?

Yes, if you have a strong academic profile and co-applicant income.

Q5. Which test scores are accepted?

Credila accepts GRE, GMAT, TOEFL, IELTS, and Duolingo as per university requirements.