How to Track Credila Education Loan Status: Explained

For many students hoping to fulfill their dreams of attending college, both in India and overseas, obtaining an education loan is an essential first step. As a top NBFC, Credila distinguishes itself by providing specialized financial solutions catered to the particular requirements of prospective students.

Keeping track of your Credila application status is an integral element of structuring your academic journey in order to avoid unexpected outcomes. Keeping track of the loan status is necessary for effective financial management and also prepares one for the repayment phase. It is easy to keep your budget in check, avoid payment delays, and prevent any issues in the future by simply keeping track of the information.

Key Features of Credila Education Loan

Students must check their education loan status frequently, which will enable them to ease their way into academic pursuits and facilitate their financial planning. They can avoid unnecessary hold-ups by following the application process for their loans and resolving any issues or supplementary documentation that may arise.

Such attentiveness helps to lessen pressure and allows students to focus on their studies by ensuring that funds required for tuition fees, accommodation, and other essential expenses are organized well ahead of time.

Eligibility Criteria For Credila Education Loan Application

Below are the eligibility criteria for the Credila education loan. This will help you make more informed decisions.

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  Borrower must be an Indian citizen
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  Co-applicants must be Indian citizens
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  Minimum age of the applicant should be 18 years. 
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  Applicants must meet the minimum academic requirements set by the financial institution. 
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  Ability to offer collateral
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  Co-borrower(s) must have an Indian bank account with cheque writing facilities
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  Admission letter from the college

How to Apply for an Education Loan at Credila?

The process of applying for an education loan from Credila is simple and is intended to be quick and easy. Here's how to apply for an education loan:

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  Visit the official website: Start by going to Credila's official website, where you can obtain comprehensive details regarding the different loan options that are offered.

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  Check eligibility: To find out if you qualify for the loan, use the eligibility calculator on the website.

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  Document submission: Collect all required documents, such as bank statements, admission letters, and academic transcripts. The website of Credila offers an extensive list of necessary paperwork.

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  Application form: Complete the online application form with the correct information. Make sure all data entered is accurate to prevent processing delays.

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  Loan approval and disbursal: Upon submission, Credila will review your application. If approved, they will contact you for further process and loan disbursal details.

How to Check Credila Education Loan Status

Managing the monetary requirements of education can be a very challenging task, but with Credila education loan, repayment is quite easy. We have composed this loan tracking guide for students who wonder, “How to check Credila loan application status?”

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  Go to the loan status tracker: To track Credila loan application status and other information, visit the pages of the loan status tracker. This page is your portal to everything concerning your Credila education loan management.

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  Enter the required information: The loan status tracker page requires the user to provide certain information to locate the relevant loan application. You will need to provide one of the following, whichever is applicable:

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    Applicant name: This means exactly as it is printed in the loan application form; do not change it in any way.
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    Reference/proposal number: This means the unique number that is generated at processing of your proposal. (This was given to you at the time of your loan application.)
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    Date of birth: Provide your date of birth to further authenticate your request.
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    Mobile number: In case you submitted a mobile number with your loan application, you can use it to check the status of the loan effectively.

   

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  Solve the Captcha: As this is of utmost importance, you are also required to pass the Captcha session in order to verify if you are a human scoring machine. 

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  Submit and Track: After filling in the necessary details and completing the captcha, click on the “Submit” button. You must be able to see the loan status on the screen, where you can also see the current data on interest rates, loan balances, loan disbursement, and so many other things.

Note - In case you experience difficulties with the tracker or have any additional questions about your loan, the customer service agents of Credila will offer the assistance that you need. True to their commitment to customer satisfaction, you can rest assured that nothing will go wrong as you embark on this financial journey.

Credila Loan Disbursement Process

Follow the steps mentioned below to apply for the Credila loan disbursement process once the loan is sanctioned.

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  Submit the Disbursement Request Form whenever you require funds. 
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  Attach supporting documents.
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  Sign the disbursement agreement along with your co-applicant.
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  Credila will open your HSBC account for funds transfer. 
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  Once the request is verified, Credila will disburse the approved loan amount directly:

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    To the university’s bank account for tuition fee payment.
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    To the student’s account for living expenses or other approved costs.

   

Read more about the Credila Loan Disbursement Process

One of the most important steps in reaching your academic goals is getting an education loan. This journey can be considerably less intimidating with the correct direction, freeing you up to concentrate on your education, which is what counts. Even though applying for an education loan can be difficult, the process can go more smoothly and painlessly if GyanDhan is on your side. GyanDhan communicates with Credila management directly in the event of any obstacles or delays, guaranteeing a quick and easy loan application process. Start now by checking your eligibility for a loan!

Frequently Asked Questions