Online marketplace Snapdeal has joined hands with the education loans company Credila to offer education loans offering on an e-commerce platform.
Education loan by Credila is the latest addition to Snapdeal’s expanding portfolio of financial services which includes personal loans, home loans and co-branded Snapdeal HDFC credit card.
"We are consistently expanding our financial services offerings for our customers, providing hassle-free application and disbursal services through our partners; in line with our overarching vision of creating the most impactful digital commerce ecosystem in the country,” said Tony Navin, Senior Vice-President, Partnerships and Strategic Initiatives, Snapdeal in a press statement.
“The customised study loan will be a great addition to Snapdeal’s portfolio of Financial Services offerings.”
The e-commerce company will be offering students 100 per cent finance of their education with no upper cap on loan and EMI repayments at fixed rates of interest.
“From a student population of 30 million in the country, less than 10 per cent avail education loans. Factoring in specific consumer requirements, Credila has developed customised loan plans," said Chandini Sehgal, Head-Marketing & Channels at Credila. "Our synergistic partnership with Snapdeal will enable us to extend our reach to a vast audience, enabling convenient access and seamless loan application through the online marketplace.”
Credila offers a loan amount of over ₹20 lakh for students with a repayment tenure of up to 10 years.