Another key benefit is the tax advantage under Section 80E of the Income Tax Act, which allows for a deduction on the interest paid on education loans. Since Credila is recognized under this provision, borrowers can save substantially over the repayment period. This becomes particularly useful for students pursuing long-duration or high-cost programs where interest outgo is significant. The tax savings, when calculated over the years, add to the affordability and attractiveness of Credila loans.
Credila’s international outreach is also commendable. The company has tie-ups and operational experience with numerous universities across the US, UK, Canada, Australia, Germany, and more. It understands the financial requirements, fee structures, and visa norms of these destinations, enabling smoother loan processing. This knowledge-backed support helps students avoid the pitfalls of underfunding or delayed disbursal, which can jeopardize their study plans or visa approvals.