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HDFC Credila

India,
Maharashtra

Consumer complaints and reviews about HDFC Credila

sumitaeran
 
Jun 14, 2013

Interest rates not being reduced

I had taken an education loan for my MBA in 2010 and the rate charged at that time was supposedly fixed at 11.25%. Within a span of 3-4 months, this fixed rate was increased to 13.00%, the reason being cited was RBI's repeated repo rate increase. The interest rate being charged from me still stands at this high rate despite several rate cuts made by RBI recently. Simply put, the company is depriving me of the benefits of lower rates and making it difficult for me to meet my ends in this recessionary situation. There is also no way to address this issue to the customer care as the Toll-free number (18002093636) supplied by them never gets connected and there is no reply given on the mails sent to their customer care mail address, loan@credila.com. Seems that RBI ombudsman will be the next right step to get my issue resolved, considering Education Loan as one of the priority sector lending as described by the central bank.

Regards,
Sumit Agarwal
Sanz_in_k Send email
 
Nov 8, 2012

Wrongful charge of Credit Insurance premium on Unsecured Loan.

Dear Mr. Hitendra,

Thanks a lot for sharing your story. I have been talking with Credila regarding a student loan. And they did a very similar thing to me. In the last step, they are forcing me to buy an insurance when my premium for the unsecured loan is already 14.25%. I wanted to talk with you and take these guys to consumer court. I am currently in France studying for my MBA. If you could share your email address or write to me at santosh19820214@gmail.com, I would like to discuss this more with you.

Regards,
Santosh
Ashtew Send email
 
Jun 18, 2012

Incomplete disposal of complaint of non-receipt of Loan agreement & non-submission of justification for 10% hike in EMI amount.

Credila is a horrible service provider. The staff is indifferent and you will be push from one department to other. The sales person whom you would contact for the loan will sweet talk you and then later you will be asked to submit a dozen documents without any explanation given.

I struggled with them for over a month without any positive results and that when the education loan was for a Tier 1 Education institute (which is among the top 10 in India), for which Credila supposedly offers a non-collateral loan with special rate of interest.

And what was an even bigger surprise was even sending emails to the country head and marking him on emails makes no difference. Not one response is received.

-Ashutosh Tewari
User762701
 
Jun 18, 2012

Incomplete disposal of complaint of non-receipt of Loan agreement & non-submission of justification for 10% hike in EMI amount.

Credila is a horrible service provider. The staff is indifferent and you will be push from one department to other. The sales person whom you would contact for the loan will sweet talk you and then later you will be asked to submit a dozen documents without any explanation given.

I struggled with them for over a month without any positive results and that when the education loan was for a Tier 1 Education institute (which is among the top 10 in India), for which Credila supposedly offers a non-collateral loan with special rate of interest.

And what was an even bigger surprise was even sending emails to the country head and marking him on emails makes no difference. Not one response is received.

-Ashutosh Tewari
Bhardwaja Send email
 
Jan 16, 2012

Incomplete disposal of complaint of non-receipt of Loan agreement & non-submission of justification for 10% hike in EMI amount.

Hi,

We have addressed the concern via letter dated 09/12/2011; Ref No. A1107020023


Regards,
Amit Bhardwaj
Credila FInancial Services Private Limited
User624775
 
Dec 9, 2011

Incomplete disposal of complaint of non-receipt of Loan agreement & non-submission of justification for 10% hike in EMI amount.

Hi,

We have addressed the concern via letter dated 09/12/2011; Ref No. A1107020023


Regards,
Amit Bhardwaj
Credila FInancial Services Private Limited
User535713
 
Dec 7, 2011

Incomplete disposal of complaint of non-receipt of Loan agreement & non-submission of justification for 10% hike in EMI amount.

Following is the continuation of earlier complaint thru' this forum. HDFC has partly that too incompletely resolved the complaint of non-receipt of Loan agreement post disbursal of full loan amount. Secondly, the working formula for hike in EMI from Rs 9000 pm to 9500 pm is not provided despite promise by Mr Amit of HDFC credia. More details in the following letter.
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

From :
Hitendra Mehta
A/201, Seeta Mahal
5th Kasturba Road
Borivali (East)
Mumbai – 400 066
Cell : 97699 19275 E-mail : hitendramehta@rediffmail.com
---------------------------------------------------------------------------------------------------------------------
December 7, 2011

To,
Credila Financial services Pvt Ltd
B-301, Citi Point, Andheri-Kurla Road
Next to Kohinoor Continental
Andheri (East)
Mumbai – 400 059

Dear Sir,

Re: 1) Receipt of incomplete / incorrect copy of executed Loan Agreement documents, post-disbursal of full amount, for over three months
2) Unreasonable hike in EMI amount without any written communication & working

Loan a/c No: A1107020023. Loan Applicant: Shreyans Mehta
----------------------------------------------------------------------------------

Facts
-------
1) subsequent to my complaint lodged on October 15, Mr Amit from Credila called up and he was briefed by me again about the details of complaint.

His assistant Mr Anand Kharat ( RM) arranged to despatch copy of Loan agreement but same is incorrect & incomplete. The matter was communicated vide e-mail to HDFC customer service department about 15-20 days back. I had also communicated to him vide SMS but there is neither response nor they have sent the corrected Loan agreement.

2) Mr Amit promised to send details of calculation of hike in EMI amount from Rs 9000 pm to 9500 pm. I had informed that the hike of almost 10% was too steep on back of 25-50 basis points hike in interest rate by RBI. Also transparency demands that the method of calculation be shared with the Loanee as the impact would be for seven years of which only 3 months have expired. Overall impact of hike calculates to Rs 42000 ( @Rs 500pm for seven years) on loan of rs 8 lacs. It works out to 5% of the Loan amount.

But till date, I have neither heard from MrAmit or received the letter from HDFC credila sharing the working of hike in EMI.

I wonder whether I need to follow RTI route or file a legal case to resolve this one.

Yours sincerely,
Hitendra Mehta
(Father of Loan applicant Shreyans Mehta)

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