SBI vs HDFC Credila: Which Education Loan Is Better?
SBI and HDFC Credila are the two lenders students compare most for study abroad. SBI is a public sector bank with lower rates; HDFC Credila is India's largest education-focused NBFC, with bigger collateral-free loans and faster approvals. Here's how they compare on rate, limits, speed and EMI.
Quick answer
- Lower rate: SBI — from 8.65% with collateral and 9.2% without; HDFC Credila from 9.7%.
- Bigger loan without collateral: HDFC Credila — up to ₹1.5 Crore at premier universities, against SBI's ₹50 Lakhs.
- Faster sanction: HDFC Credila (5–8 working days) against SBI (15–25 working days).
SBI vs HDFC Credila side by side
| SBI Global Ed-Vantage | HDFC Credila | |
|---|---|---|
| Lender type | Public sector bank | NBFC |
| Interest rate (study abroad) | Study abroad, with collateral: from 8.65%Study abroad, without collateral: from 9.2% (depends on university ranking) | Without collateral, top-ranked universities: from 9.7%Standard profile or university: from 10.5% |
| Maximum loan | ₹1.5 Crore (Global Ed-Vantage) | ₹1.5 Crore |
| Without collateral | ₹50 Lakhs (for select premier universities) | ₹1.5 Crore (premier global universities) |
| Processing time | 15–25 working days | 5–8 working days |
| Processing fee | Nil for loans up to ₹20 L; ₹10,000 + GST above | 1% – 1.5% of loan amount + GST |
| Moratorium | Course duration + 6 months (or 6 months after job) | Course duration + 12 months (longest in the industry) |
| Repayment | Up to 15 years post-moratorium | Up to 14 years post-moratorium |
Rates as of October 2026. Your rate depends on your university, profile and collateral.
EMI on a ₹40 Lakh loan
| Lender and profile | Rate | EMI (10 years) | Total interest |
|---|---|---|---|
| SBI, with collateral | 8.65% | ₹49,916 | ₹19,89,890 |
| SBI, without collateral | 9.2% | ₹51,104 | ₹21,32,514 |
| HDFC Credila, without collateral (top-ranked university) | 9.7% | ₹52,198 | ₹22,63,764 |
| HDFC Credila, standard profile | 10.5% | ₹53,974 | ₹24,76,880 |
Starting rates, repaid over 10 years after the moratorium, ignoring interest during the course. Try your own numbers in our EMI calculator.
Which one should you pick?
Choose SBI if…
- you can pledge property or a fixed deposit — SBI's collateral-backed rate is among the lowest available;
- your university is top-ranked, so SBI's collateral-free rate (from 9.2%) applies;
- your co-applicant's credit is good but income proof is patchy, and your university is on SBI's list of 100 — SBI can be flexible with 15% margin money.
Choose HDFC Credila if…
- you need a large amount without collateral;
- your visa or fee deadline is close and you need a fast sanction;
- your co-applicant is self-employed or has informal income that a bank finds hard to assess.
Many students apply to both and choose once they have both sanction letters. Read the full lender pages for SBI and HDFC Credila, or compare every lender on our study abroad loan comparison. For the broader picture, see bank vs NBFC education loans.
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