Credila Education Loan — Betrayed Credila Education loan scheme

Address:

Pune, Maharashtra

Hi i was willing to pursue MS in USA for fall 2014 and i was falling short around 14 lac rupees. So i have decided to go ahead to take education loan from credila as government banks like SBI takes lots of time to process and sanction the loan. Despite of cognizant to bill monthly interest to credila pockets, i aimed to secure education loan with credila. so i submitted my form online and within two days i got the appointment. the person came to my house and explained the policy. i explained my condition that i am not in a position to submit any collateral my brother is working so i could assign him as co-borrower for my loan. he said with confidence .. Of course you can that would be no problem at all. My brother monthly income was over 50000 rupees so i was in confident that there would be no hurdle at all and i have given my all the documents. He said that within four days or maximum 10 days you will get the loan. Now here is what happened unexpected and rubbish completely. i was receiving daily calls from banks that your x y z document is missing please submit. i got pressurized numerous times as it is unwanted and time consuming tricks playing by the credila. They wasted my 10 days with this freak show. Now in next week they start excusing that your brother savings is not meeting their desired ratio and they start crying like they want another cup of cake. i was in the tension every second even in the night also because the marketing guy who taken my documents was assuring me that he will convince his team and sanction the loan but next day he informed that my loan got declined and he can not do anything. i asked what is the reason then he said your brother saving is poor and your hometown is out of their range ( crying and excusing for decline) this message is came after 26 days initially it was 4 to 10 day as he told me .. i got disappointed and frustrated as i reached to my deadline where i got delayed to submit my resign to my office and go to usa on time. Hence i asked him is there any option for me he said yes you need to arrange collateral for your loan otherwise it is not possible. That fellow was from the marketing team and he took my credential earlier so that ;later at the rush time he intentionally can put that tough condition so in any how i have to submit collateral to that foolish person. That was his trick which vanished my dream to study this year in USA. i request to take action against then and warn that don't play any tricks to make money and don't lie.