Credila Financial Services Complaints & Reviews

I had applied for student loan.

My loan is not sanctioned . I have requested for send me my documents back and yet I didn’t get my documents back from HDFC credila. Their executive Shravan from Mumbai office says that it’s your need so come in office and collect . Lol .
When u need customers documents u come to their door on the same day when we apply and u can’t send documents within a month. Please train ur executives how to talk with customers. Poor company

I have complaint about my deduction in my credit card but still now no response about it so without my indimation you deducted rs1399 pls take action and cancel plan and refund my amount as quick as possible. I had complaint to managers without my information why you deducted i don't know this is ur rule refund it
Name:vishal
Mobile no:[protected]
[protected]@yahoo.com

I got admission offer on november 15, 2017 for a university joining date of january 1, 2018, where student visa filed after december 1st, 2017 will be rejected by canadian embassy. Keeping that i have only 15 days left in mind and getting suggestions form few friends i came to know credila does faster processing. Customer service people promised 6-7 days of processing time and i applied and submitted all documents on the very day of receiving offer letter (Nov 15, 2017) to mr. Senthil and madurai and applied for 25 lakhs of loan.
I was not provided with any loan application number, and was tracked based on my mobile number [protected]. Every day i was calling my manager for status and he rarely picks or calls back. From the beginning he was a man of few words. Our property was evaluated 21st november and address was verified 23rd november. I called my sales manager few days after application that i need 3 things to be done before november 30
1. Loan sanction
2. Loan disbursal
3. Payment of tuition fee (Which he said will take 48 hours to get receipt after payment)
He said he will try his best. On 24th nov, i tried calling him on noon and in evening but he didn't pick or call back. So, i called customer care and they gave me mr. Murthy a regional manager's number. Upon talking to him, he explained that i am nowhere near to getting my above mentioned 3 steps done before november 30 and it will take much more time and clearly explained me the steps (Which was never done by senthil). He called my sales manager mr. Senthil and blasted over the conference call and asked him to speed up the process so that i won't miss the deadlines. After the call, my manager called me and inquired why i escalated it to the regional manager, and said he'll try.
Next day i got a call from my manager and he said "your loan got declined", the reason was "your father-in-law cannot be the guarantor/co-borrower" and i can't even get 5 lakhs of a loan.
My question is, if father-in-law cannot be my guarantor why am i not informed beforehand? Now that i'm sure i'm gonna miss my deadline. I have already tansferred 17000 $ to canadian banks for my living expenses, and now i need to withdraw them back.
Credila didn't even bother to communicate anything over written communication but was only communicated by word of mouth. I need a written communication clearly stating the reason for loan refusal, to provide reasoning to my university, canadian bank, and employer and communicate that i will not be joining the university in canada.
Also, explain to me why father-in-law cannot be a co-borrower or why your managers are not informed about it?

I am shravan studying in a premier symbiosis institute and i had availed an education loan from credila. I had to pay my third semester fees by 31st july, 2017 and i had contacted credila well in advance to deposit the fees a week in advance. They did not contact me for the next three days and get back on the last day saying they required documents for proof. I, then submitted the required documents on that day but to my dismay, they still have not paid my fees after 2 days. I have tried contacting them multiple times but the branch manager hasn't received my calls.

The manager's name is rajendran who is the manager of sales in credila, chetpet office and ramya has been the other point of contact.

Credila educational services, a subsidiary of hdfc bank has sanctioned my education loan of rs. 20 lakhs and i have paid the processing fees of rs. 17250/- through neft. But as i have arranged to pay the tuition fees through my personal and family funds, i won't need the loan disbursement.

Therefore, i have requested credila to kindly return my processing fees after deducting their initial charges. But they are refusing to...

Sanction lo
I have got sanction letter for Rs.27 lakh from credila on 9/5/2017. In that sanction letter it is clearly written that we can avail disbursement upto 30th September, 2017 and agreement can be signed within 6 months from the date of issue of sanction letter. You can clearly see the sanction letter issued by credila.

Loan account no. A[protected]

Mr. Mohit Arora and shri Pankaj Kumar of Credila are harassing me, my wife, and my son daily over phone to take the disbursal immediately and otherwise we will cancel our loan unilaterally.

They have sent mail also as under-
"Your case is being declined as the agreement copy is still pending from your end

Also please note that as per policy we would be notifying the concerned authorities(university & the visa embassy) that the loan has not been availed by the customer.

Thanks & Regards

Mohit Arora
Manager
HDFC Credila Financial Services Pvt. Ltd.
India's 1st Education Loan Specialist
Please see the enclosed mail received from Shri Mohit Arora, Manager which in itself blackmailing me and declining our loan.

I have not written to them saying that I have declined any loan. I have paid the processing charges of Rs.23000/-.

How Can Credila unilaterally cancel the loan . I am having the time upto Sept 2017 to take disbursal. In the Sanction letter it is written that within 6 months I have to sign agreement.

Take immediate action on the employees and agents

I took a loan from Credila for my education.
My second instalment disbursement was scheduled on Last month 30'th.I received a SMS from Credila that my second instalment disbursement is pending and to release that there was a contact person mentioned.His name was "Vairaman" from Chennai office.
I contacted him and I signed the agreements and completed the process from my side in a day.
I already missed my deadline since I was ignorant that the second disbursement will happen automatically.But when I try to reach him through phone I am not able to reach him.He is not even replying to the mail.Moreover once he pics up the call he is saying that "You are not the only customer".He can't even say the status of my loan application.I was totally depressed with the way he spoke.I have to answer to my finance manager on crossing the deadline.I was already depressed with that and this guy after getting all the relevant and required documents still can't tell where does my disbursement process is lying.

I applied for an Educational loan for my higher studies in December 2016. I paid them a processing fee of Rs 5000 in order to review my documents and get the loan sanctioned. They took two weeks time to review the documents. And their Sr. Relationship Officer informed me that if the loan is not approved for any reason, they will return the whole amount of Rs 5000 within a week. Credila informed me in Jan 2017 that my loan is not sanctioned....

Respected Sir,
I was told on 16th March, 2017 by HDFC Credila that my loan will be processed by 22 March, 2017 once I submit the documents such as their application, ITR, Pan Card, Aadhar Card, etc. to the person contacted through my college website for education loan with provisional call letter as placements are 100% for my course(PGDM-Healthcare) . As they told me to reduce the fixed interest rate and promised a quick response, I opted for HDFC Credila. After 7 days, they write a mail to me and my father stating the loan can’t be processed mentioning no proper reason. We inquired and weren’t told any reason. They wasted 10 days and I think it is because of low financial income of my father and mother. Just because we do not have money, we need a loan. They called me multiple times earlier but now they aren’t telling the reason. Plus, the loan had to give me an unsecured loan as mentioned by them on college website (TAPMI). They said if you take a collateral loan, only then we can process the loan within another 4 days and we will lower your rate of interest more. I have to submit my fees by in about two weeks and if takes longer for another loan, my admission will get cancelled.

To notify, They asked me for my mother's ITR, my father shared it with the contact person on Whatsapp the same moment but it still went ignored as of 24th March, 2017. You can find the contact person number in the images.

-Lakshya Suneja (Jhajjar, Haryana)

Education loan is levied interest at 12.25%. Post-demonitisation interest rates of all loans were revised downward by most banks.

Current ROI is 12.25%. When requested for interest reduction, the following is the reply --

We are reviewing our borrowing cost, operation cost, etc. closely and as and when we see reduction in the same, we will pass on the benefits to you and other customers.

No timelines given for reduction of interest rates.

Account maintenance charges of Rs.1500/- is debited, once repayment of loan commences. No charges are debited when loan is availed or during the tenure of the loan, until repayment. Why?.

Loan repaid in every instalment is different from that shown in loan account as amount received.

At the time of availing loan, Credila has promised that an amount of Rs.5000/- worth of books can be purchased free. No such option given to student.

Not many ATMs in USA are having facility for withdrawing through HDFC Forex card. For every withdrawal from ATM in USA, there is additional charge imposed, which was not communicated to us and neither reimbursed.

Overall bad experience.

Prospective Students -- Approach Government banks instead of NBFCs.

Hi i have applied for education loan for my higher education in Canada. with lots of hope gave all documents they asked. i spoke to pradeep ( manager ) he review the documents and said there should not be any problem. As a CO- Applicant they have requested any other person from my family as my dad is retired. so my nominated my Uncle( my dads own brother) as my Co- applicant and submitted all his details and a check of 2, 500.

there were verification call and property valuation done and after 5 days i got a message saying that credila has no education loan product matches our requirement. i called up pradeep immediately and to my surprised he was not aware that my loan got rejected, and i called him time by time he dint answer my call. and today i went to office personally and asked for reason for my loan rejection he said co applicant cant be uncle it should be own brother or sister. without knowing any company policy how can he be in a manager position and wrongly guide the customer and to my surprice he openly said he dont know that. he wasted my precious time of 10 days. and still he is not giving me a valid reason for my loan rejection. please take strict action against this officers. and request to deposit my 2, 500 to my account as you know it before that this loan will get rejected.

We applied for education loan of and the same was rejected inspite of giving all documents and information as requested without giving any valid reason. Although the company is not bound to give reasons for the same but i strongly feel it is the right of the Applicant to know the same, after all this may spoil the future of a bright and deserving student.

Hi,

After collecting all the documents and doing the home evaluation, education loan is rejected saying 'Poor academics'...

Two issues;
1. If academics is the issue, then why you guys didnt inform me day 1, are people sitting and evaluating really aware of transcripts and what it means, did they even check his current academics scores to say that, you think we all are fools.

2. Why did...

Statutory warning! Beware, dont get carried away with whatever has been mentioned on their website, ie. Collateral free loans upto 25l, less than 100 percent collateral accepted, security free loan for reputed universities, etc. Everything's a fallacy. (I had applied for a loan for my ms in us)

You would not realize how much the thing "terms and conditions apply" can screw up your life until you apply for a loan...

Kindly go to established banks for loan as credila can't be trusted. Credila in the beginning will call you with promises like giving loan for mba in a week without paying for it or giving collaterals and upto 25 lacs. As soon as you submit the documents, they will inform you that you'll have to pay 5000 per month starting from the month the loan is sanctioned. Even if you agree, they will keep you on the loop and assure you that the loan will be approved way before the deadline, ask you not to worry so that you don't feel the need to go to any other bank. After 5 days of submitting loan application, i checked the online complaints as credila agents were not responding to my calls and decided to apply for loan in several other banks. Credila on the other hand kept assuring me that the approval will be made in 2 days. On the day of my deadline, i get a mail in the morning from credila stating that they have rejected my loan application. On the last day of my deadline. If i'd have blindly trusted this bank and waited for an approval, i would have lost my seat and my career would have been ruined. Don't know why hdfc decided to associate with these people. Hdfc is just a name under which this fraud service is functioning. Don't even bother to apply for loan with credila, i think they provide loan to those who don't need loan in the first place, rich people. What a joke! Filing a complaint. Spread the word. This is the credila agents name and number who played with my career and will probably play with yours, rahul dubey [protected]

There is a huge list of disappointments with this stupid uncivilized and pathetic company.
These guys r the most heavy burdens on earth, who keep such idiotic thinking. Firstlty one of the representative - pankaj, accused me that m a single parent child and too a female and that too of a single mother",.. And with this situation he showed a doubt that i would run without paying back my loan. We will run away with the money,. Seriously u kidding me,. Such bad person u r, i wonder from where this thinking came from,. This company shud be sued., closed,. Services banned.
This is how they deal with the female applicants,. This is how our country is growing towards betterment with such bad people.
A cse shud be filed against them all.
Coz now after a verbal apology to me,. They have denied giving me loan. Next mail will be to mr. Modi,.

Hello, his is me Shubham. I am from Ngar town in Bharatpur (dis) Rajasthan.
I applied document to PNB bank branch Nagar Bharatpur. But they are not giving me loan and asked for unwanted documents. I belong to poor family and currently pursuing my engineering. The bank manager befooled last 9 months. And he do not want to give loan. I am in trouble. If loan is not giving to me I will have to leave my engineering.

Word of advice: never take a loan from Credila. I took an education loan in 2012 at 11.5%, the interest rate got increased to 12.1% in 2013. In last two years with multiple rate cuts by rbi, credila doesn't change their CBLR and loot its customers. My colleagues from same batch are paying as low as 9.7% for SBI and Andhra bank.

I have an account with Credila for almost 4 years now. Initially, I had a terrible time getting approved but I never complained. Now, I want them to stop charging me ridiculous interest rates and want to pay back whatever is due but they will not respond to it. I have asked them in multiple e-mails what the procedure is to close the account but have had no luck whatsoever.

I applied for education loan at credila Bhopal branch under amit satvani. While applying they said me that they will give me the confirmation with in 7 days but after that the experience I got was disastrous, they just kept on giving me time and even asked me to contact their Delhi head office and know the status of application. They did not giving any proper revert even after calling numbers of time in a day and in my view even the office...