HDFC Credila Education Loan Disbursement Process | Step-by-Step Guide| From Approval to Disbursement

[@GyanDhan]

👉Discover Your Education Loan Eligibility in Less Than 2 Minutes! - bit.ly/2zmJbYc

[@JeninJGeorge]

Wasted my 10 mins successfully 👍🏻👍🏻

[@laraarliza]

My friend was already approved loan, has been waiting for at least a month but then it got denied. How is that possible? So much time wasted! How can you guys lead someone on and say it was approved only to deny it last minute? She could've applied to other banks but you guys approved her so she waited patiently!

[@LogaratchaganA]

When can i expect disbursement after E sign? Please Give me some approximate time line

[@GyanDhan]

Greetings from GyanDhan, we will definitely help you in this regard. You can contact us by sending an email at [e-mail] or you can call us directly at 9311124830 One of our loan experts will help you in solving all your queries.

[@Aditirk3011]

The entire process was so stressful and extremely unprofessional and sloppy services even after being charged a hefty processing fee. The disbursement amount in block account was credited more than instructed by us and reimbursement amount was also credited to block account depsite of instructions not to and now they expect us to pay additional interest on the same.

[@GyanDhan]

Hi Aditi, I'm sorry to hear about the issues you've encountered. It definitely sounds stressful and not at all what you should expect. I recommend reaching out directly to the service provider’s customer support to discuss these discrepancies and the undue interest charges. Be sure to clearly outline the issues and request that they correct the errors promptly. If the resolution isn't satisfactory, consider escalating the matter through a consumer protection agency. You shouldn’t have to deal with such complications, especially not with financial services. Hope this gets resolved quickly for you! Regards, Team Gyandhan

[@Rohan_pa6el]

What do u mean by block account?

[@abhilashthilakan9780]

Same, they credited all the amount to HSBC006 account.

[@prathameshchavan4824]

Have you tried transferring your amount from 006 account to 007 account from the HSBC app ?

[@kampfer2309]

For the university fee the credila directly pay to univeristy. But for other expenses can I use my third party forex card. Like the forex card they are giving have many charges which is almost zero in my forex card so can I take the disburse amount directly to my forex DCB bank ?

[@GyanDhan]

Hello, You can redirect your queries to our dedicated loan counselors on GD Connect : discussions.gyandhan.com/ They'll guide you through every step of the way and that too totally free of cost. Regards, Team Gyandhan!

[@happynehwal5416]

If i have a savings account in hdfc then will i be able to get the disbursed amount related to living expenses in it or not?

[@GyanDhan]

Hi Happy, You can redirect your queries to our dedicated study abroad experts and counselors on GD Connect : discussions.gyandhan.com/ They'll guide you through every step of the way and that too totally free of cost. Regards, Team Gyandhan!

[@akkkk3136]

Hello sir After getting the message that loan is sanctioned do we need to open the HSBC loan account is it mandatory?

[@GyanDhan]

Hello, After getting the message that your loan is sanctioned, it's generally required to open a loan account with HSBC to manage disbursements and repayments. However, it's best to check directly with your loan officer or HSBC for specific details. Good luck! Regards, Team Gyandhan!

[@SahilSharma-sf8ds]

@GyanDhan does hdfc credila offer loans for certificate programs?

[@GyanDhan]

Hello Sahil, A similar query has already been answered on GD Connect, kindly refer to the link given below for the detailed answer: discussions.gyandhan.com/t/does-hdfc-credila-provide-loans-for-certificate-programs/14257/2 Regards, Team GyanDhan!

[@sanjayrao7776]

Does credila dispurse all the sanctioned amount at a single time or dispurse it accordingly to the semester wise to the college ?

[@GyanDhan]

Hello Sanjay, A similar query has been answered on GD Connect, kindly refer to the link given below for a detailed answer: discussions.gyandhan.com/t/how-does-credila-disburse-the-sanctioned-education-loan-amount/14302 Regards, Team Gyandhan!

[@JAYPRAKASH-rd6wi]

Is this a policy of HDFC CREDILA that the time gap between first disbursement and second must be 6 month.

[@GyanDhan]

Hi Jayprakash, HDFC Credila typically does not have a strict policy requiring a 6-month gap between the first and second disbursements. However, disbursement schedules can vary based on the specific terms of your loan agreement and your institution's fee structure. It's best to check your loan agreement or contact HDFC Credila directly for precise details. If you have any more questions or need further assistance, feel free to reach out to us at GyanDhan. We're here to help! Regards, Team Gyandhan!

[@akshayambu5122]

Do Hdfc credilia open an account with HSBSC bank and control payments from there?

[@dhruvin191]

Ya bro. They will open an HSBC account. I've sanctioned a loan of 20 lakhs. Very poor experience. They disburse money in loan account but they put a lien by which you can't spend. You have to pay through them(university fees, living expenses account). And for that, they put so much extra charges. I am regretting it now. Btw my loan was Unsecured.

[@vishakhaprem3004]

I have taken 35 lac but they are saying you can have 10 percent of amount to spend apart from tutuin fees

[@dhruvin191]

​@@vishakhaprem3004Very poor service. They don't say these things before the sanction.

[@vishakhaprem3004]

Yes

[@ManpreetKaur-yh2pq]

Very poor experience

[@yashpaul-oo3be]

After making an application for education loan with hdfc credila, how much time does the full process takes ?

[@GyanDhan]

Hello , You can get in touch with our dedicated loan counsellors and study abroad experts who will be able to help you out. You can reach out to them on the link to GD Connect given below: discussions.gyandhan.com And do not worry, it is totally free of cost. Regards, Team GyanDhan!

[@IRONCLA.D]

approx 1 month

[@rinkuarora5942]

Sir someone asked me that education loan file rarely approve without collateral in hdfc credila.sir is it true??

[@GyanDhan]

Hi Rinku, While it is true that education loans without collateral can be more challenging to secure, especially for larger amounts, HDFC Credila and other lenders do offer unsecured education loans based on certain criteria. These include the applicant's academic performance, the co-applicant's creditworthiness, and the course and institution's reputation. Loans for courses with high employability from reputed institutions are more likely to be approved without collateral, and smaller loan amounts also have a better chance. While collateral can improve the chances of loan approval, it's not always mandatory for all applicants. Discuss your specific situation with HDFC Credila to understand their requirements and improve your chances of approval. Regards, Team Gyandhan!

[@MalavikaSanthosh-yy6cz]

I got my loan sanctioned and they told me to create an account in HSBC but you haven't mentioned that in video, so will that be necessary? And a payment is also required

[@GyanDhan]

Hello Malavika, Yes, opening an account with HSBC might be necessary as part of the loan disbursement process. This is typically done to streamline transactions and manage repayments more efficiently. Please check with your lender for specific details. If you have any more questions, feel free to ask! Regards, Team Gyandhan!

[@Simarkaur_24]

After Paying the fees , we need to Pay Insurance fee and Embassy fee for UK process, so can we pay these amounts from Loan??

[@GyanDhan]

Hi Simar, A similar query has been posted on GD Connect and you can refer to the link given below for a detailed answer : discussions.gyandhan.com/t/can-insurance-and-embassy-fees-for-uk-process-be-paid-through-an-education-loan/14256 Regards, Team GyanDhan!

[@Saiteja-yi5el]

I heard they are doing monthly compounding interest. I guess we will be at loss ryt?

[@GyanDhan]

Hey Saiteja, Yes, HDFC Credila Education Loans do have monthly compounding interest, which means the interest is calculated and added to the principal amount every month. This can lead to paying more interest over the life of the loan compared to loans with annual compounding or simple interest. While this can be a disadvantage, it's also important to consider other factors such as the overall loan terms, repayment flexibility, and customer service when choosing a loan provider. Make sure to compare the total cost of the loan, including interest and fees, with other options available to you. It's always a good idea to read the loan agreement carefully and ask for a detailed breakdown of how the interest is calculated. If you have any specific questions or need further advice, feel free to reach out! Regards, Team GyanDhan

[@TEAMJATAYU-r3c]

Can i take some sort of amount from hdfc credilla for my first semester tuition fees? Actually i am planning to pay tuition fees in mix mode. That is savings plus loan

[@GyanDhan]

Hello, Yes, you can take a partial amount from HDFC Credila for your first semester tuition fees and pay the rest using your savings. HDFC Credila offers flexible loan options that allow you to request the amount you need. We recommend discussing your specific requirements with HDFC Credila to understand the terms and ensure the loan structure fits your financial plan. If you need further assistance, feel free to reach out to us at GyanDhan. Regards, Team Gyandhan

[@srinivasparupalli6789]

Is it mandatory to load the amount to forex card through hdfc credila, or is there a freedom choose our own ways to send money to abroad?

[@GyanDhan]

Hello, No, it is not mandatory to load the amount to a forex card through HDFC Credila. You have the freedom to choose your own ways to send money abroad. You can opt for different methods such as wire transfers, other forex card providers, or international bank transfers, depending on your preference and convenience. It's always a good idea to compare the fees, exchange rates, and services offered by different providers to make the best decision for your needs. If you have any specific questions about HDFC Credila's policies, it's best to contact them directly for detailed information. Regards, Team Gyandhan!

[@desharathkumar3767]

Hi sir, is this hdfc credila full online process?....does everything has to done online? And also only after paying processing fee i will get sanction letter through email?

[@GyanDhan]

Hello Desharath, Yes, HDFC Credila's education loan process is primarily online, allowing you to apply and submit necessary documents through their platform. However, some steps may require in-person verification. As for the processing fee, it typically needs to be paid before they process your application and issue a sanction letter, which you'll receive via email once approved. For the most accurate details, I recommend visiting HDFC Credila's official website or contacting them directly. If you need further assistance, feel free to reach out to us at GyanDhan! Regards, Team Gyandhan

[@Nishantkumar0721]

how many days it will take to the second installment of the college fee..

[@GyanDhan]

Hello Nishant, The processing time for the second installment of the college fee from HDFC Credila Education Loan typically ranges from 10 to 15 days. This period covers the processing and verification of necessary documents, and the disbursement of funds is contingent upon meeting all eligibility criteria and terms and conditions​. If you need more detailed information or assistance, you can contact HDFC Credila's customer service directly or visit their official website. Regards, Team Gyandhan!

[@Gurdarshan03]

Sir my fee and gic were already paid directly by banks as my loan got sanctioned from hdfc credila. But Can we get rest amount before making payment for shopping and air travel tickets ?

[@GyanDhan]

Hello Gurdarshan, Yes, it's possible to get the remaining loan amount before making payments for shopping and air travel tickets. However, it depends on the terms of your loan agreement with HDFC Credila. We recommend reviewing your loan agreement and contacting HDFC Credila directly to request an early disbursement. Be ready to provide necessary documentation like flight tickets and travel itineraries. If you have any more questions, feel free to ask! Regards, Team Gyandhan

[@gauravji2023]

Can i take disbursement of amt 28 lakhs if i got a sanction of 30 lakhs from hdfc credila...before visa ?

[@GyanDhan]

Hi Gaurav, Thank you for reaching out to Gyandhan, generally, you can request the disbursement of a portion of your sanctioned loan amount, such as 28 lakhs out of the 30 lakhs sanctioned by HDFC Credila, before your visa approval. However, the disbursement policies can vary, and some lenders may require certain conditions to be met before releasing funds. It's best to check directly with HDFC Credila regarding their specific disbursement policies and any requirements they may have. Feel free to reach out to us if you need further assistance! Regards, Team Gyandhan

[@sChoudhary676]

Can i change University after loan disbursement please tell me

[@GyanDhan]

Yes, you can change universities after your loan has been disbursed, but it requires careful coordination. Here's what you need to do: First, inform your lender about your decision and provide them with the new university details. You might need to update your loan agreement to reflect this change. Additionally, ensure all relevant documentation, like your new admission letter, is shared with your lender. Also, coordinate with both universities' financial offices to manage the transfer of funds appropriately. Don’t forget that changing universities can also affect your visa status, so make sure to update it if necessary. If you need further assistance or have any more questions, feel free to reach out to us at GyanDhan. Best of luck with your transition!

[@shravankumar6623]

​@@GyanDhan Very useful info

[@pranjalsuthar9476]

When i get destubement letter from hdfc credila?

[@GyanDhan]

Hello Pranjal, You can redirect your queries directly to our dedicated loan counselors at GD Connect : discussions.gyandhan.com/c/student-loans/54 You will get a reply within 24 hours Regards, Team GyanDhan!

[@santoshshitole7838]

Loan repayment starts from 1st month .?

[@GyanDhan]

Hello Santosh, With HDFC Credila, the loan repayment typically starts after the completion of the course, including a grace period of 6-12 months. However, interest payments may begin from the first month of disbursement. It's best to check the specific terms and conditions of your loan agreement for exact details. Feel free to reach out to us for more personalized assistance! Best regards, Team GyanDhan

[@Chinthama]

Whether we need to pay the processing amount to HDFC cedilla team after getting the sanction E-mail?

[@GyanDhan]

Hello Chinthama, No, you do not need to pay the processing fee after receiving the sanction email from HDFC Credila. The processing fee is typically deducted from the loan amount when it is disbursed. Always check the specific terms and conditions mentioned in your loan agreement for precise details. Best regards, Team GyanDhan

[@nafeesnedariya]

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