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Everything you want to know about Credila, and whether you should go for it
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ojasjuneja Offline
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Post: #211
RE: Everything you want to know about Credila, and whether you should go for it
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Hello ppl
Please Help me

Credila Official told me that they will sanction my loan of 25 lacs without any collateral.

My father has a self employed business.
They are giving loan without collateral because of my father's yearly business turnover

Rate of interest: 13.5 to 14.5
Processing Fee: 1.5 %

Should i take loan from credila or not? Any advice would be helpful
i have read all the posts in this thread thats y i am little worried about Credila disbursement policies and Loan approval policies.

Additionaly,i want to know: what is Security Post Dated Cheque and HDFC ergo

Thanks
Ojas Juneja
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10-11-2014 03:00 AM
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ankush010289 Offline
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Post: #212
RE: Everything you want to know about Credila, and whether you should go for it
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If you can get a loan from nationalized bank i would suggest go for that. Keep credila as last option.

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10-11-2014 08:10 AM
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ojasjuneja Offline
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Post: #213
RE: Everything you want to know about Credila, and whether you should go for it
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ankush010289 : do you have any bad experience with credila?
why should i keep as my last option?
Plzz explain?

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Ojas Juneja
My InfoBank: http://edulix.com/unisearch/user.php?uid=216509
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10-12-2014 02:29 AM
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ankush010289 Offline
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Post: #214
RE: Everything you want to know about Credila, and whether you should go for it
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Well, yes. They were "forcefully" disbursing more amount than i wanted. So had to tak to higher mgmt and get it sorted.

Why i said keep credila as last option is because of their ROI and other payments. You will actually end up paying more.

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10-12-2014 06:55 AM
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ojasjuneja Offline
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Post: #215
RE: Everything you want to know about Credila, and whether you should go for it
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ankush010289 :Thanks for info
One more thing
Can you please tell what will be the other payments apart from ROI?

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10-12-2014 02:22 PM
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ankush010289 Offline
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Post: #216
RE: Everything you want to know about Credila, and whether you should go for it
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other charges may vary on many things like security deposit for loan and what amount of loan that you are taking.

I guess if you read the thread you will get to know that you need to pay pre-processing fee as well unlike nationalized banks.

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10-15-2014 01:34 AM
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royal1988 Offline
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Post: #217
RE: Everything you want to know about Credila, and whether you should go for it
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Credila will screw your life...!!! Never take loan from them!
01-06-2015 08:57 PM
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antidive Offline
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Post: #218
RE: Everything you want to know about Credila, and whether you should go for it
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(01-06-2015 08:57 PM)royal1988 Wrote:  Credila will screw your life...!!! Never take loan from them!

royal1988 Can you please elaborate?

"So much of what is best in us is bound up in our love of family, that it remains the measure of our stability because it measures our sense of loyalty."



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01-07-2015 12:23 AM
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The_Chharraa Offline
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Post: #219
RE: Everything you want to know about Credila, and whether you should go for it
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[antidive] Credila loans can sometimes and have sometimes become nightmare.
You need to be smart than them, in order to get your work done.
You can bargain the processing fees.

There are certain loops in pre-closure (not sure here) of loan where they can fix you. Sometimes, they disburse money saying you got to take money for your stay, food, etc of 1st semester, which they make it as a condition and they don't share while carrying out loan process.

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(This post was last modified: 01-08-2015 10:56 PM by The_Chharraa.)
01-08-2015 10:55 PM
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antidive Offline
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Post: #220
RE: Everything you want to know about Credila, and whether you should go for it
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The_Chharraa Yeah, I understand that's the general consensus about Credila. I was just wondering what drama Credila played on royal1988 specifically. The varied opinions on Credila are really stunning. Some seem to have had the most rosy loan experience while some have been shown the door at the last minute derailing all plans!

"So much of what is best in us is bound up in our love of family, that it remains the measure of our stability because it measures our sense of loyalty."



Filling your Infobank | Learning German - Resources Index | Compilation of German Visa Threads
01-09-2015 03:16 PM
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ashishmach Offline
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Post: #221
Credila 2015 loan
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Hi everyone,

I was wondering what would be the best way to create credila fall 2015 discussions...
So I decided that I should extend this thread. If anyone feels otherwise please let me know.

Sharing my info - these are the replies I received (sorry for English on their part and mine tooSmile):
a) For sanction letter do I need to get life insurance also?-only PF amount
b) What are Loan cancellation charges?pf is not refundable
c) What are Pre-payment-No charges after 6 months
charges?(http://www.hdfcbank.com/personal/product...education)
d) Please send me full terms and conditions documents.-with agreement documents you received all the required documents
e) How much time do I have to make a decision, whether to take a loan or not? will take approval of ROI or PF after your mail mentioning that yes i will take disbursement from you and you have to transfer PF part immediately..

The problems I have:
I am not sure if I will be taking loan from them but I need sanction letter. I have got 1.25% processing fee and 13.90%; 25 Lakh loan sanctioned. They have asked me that they can reduce either one of these two number not both. Obviously they have asked for around 22k for life insurance that I have to pay after sanction letter and before disbursement.

1) Considering I am not sure(Till now I have received an admit from VT- Mech), its difficult for me to decide on which rate (1.25 or 13.9), I should be beating or is there a way to convince them to reduce both?

2) Another question I had was: I am from delhi I have special power of attorney on my home I do not have free hold. Apparently, I have to pay 1-1.5 lakhs to get that and it takes 2-3 months, which I don't have. So it is seeming impossible to take loan from some other bank as no one gives more than 7.5lakh without collateral. Could all of this be assumed as facts? And if this affects answer to above question please consider that also.


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The_Chharraa
ankush010289

03-19-2015 04:29 PM
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The_Chharraa Offline
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Post: #222
RE: Everything you want to know about Credila, and whether you should go for it
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ashishmach Hi,
Please fill your info bank, first.

What did you refer 13.90% to?
You can still bargain on processing fees, I brought them to 1%.

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Until you understand this thread, keep reading it. Unless, and until you understand it, please try avoiding to apply to US.
03-21-2015 02:07 AM
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ashishmach Offline
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Post: #223
RE: Everything you want to know about Credila, and whether you should go for it
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I had already filled my infobank but I think it was not complete. Check if it ok now?
I have a question, I have tried to search within infobank(to look for people with similar profile)several times is it possible?
I was talking about 13.95% interest rate for a loan of 2500000 without collateral. They are saying the minimum they give without collateral is 13.5%.
The_Chharraa
(03-21-2015 02:07 AM)The_Chharraa Wrote:  @[ashishmach] Hi,
Please fill your info bank, first.

What did you refer 13.90% to?
You can still bargain on processing fees, I brought them to 1%.

(This post was last modified: 03-21-2015 03:25 PM by ashishmach.)
03-21-2015 03:23 PM
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jigneshdarji Offline
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Post: #224
RE: Everything you want to know about Credila, and whether you should go for it
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(03-21-2015 03:23 PM)ashishmach Wrote:  I had already filled my infobank but I think it was not complete. Check if it ok now?
I have a question, I have tried to search within infobank(to look for people with similar profile)several times is it possible?
I was talking about 13.95% interest rate for a loan of 2500000 without collateral. They are saying the minimum they give without collateral is 13.5%.
@[The_Chharraa]
(03-21-2015 02:07 AM)The_Chharraa Wrote:  @[ashishmach] Hi,
Please fill your info bank, first.

What did you refer 13.90% to?
You can still bargain on processing fees, I brought them to 1%.
Mine is 13.75% and 1.25% processing fees.
03-21-2015 03:27 PM
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The_Chharraa Offline
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Post: #225
RE: Everything you want to know about Credila, and whether you should go for it
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ashishmach Thank you for completing info bank.
Could you phrase your 2nd question again? What do you intend to ask here?

Will not answer any PM, instead tag.
Until you understand this thread, keep reading it. Unless, and until you understand it, please try avoiding to apply to US.
03-21-2015 08:56 PM
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