tanii said:
hello guys... actually i want to know have anyone ever applied for edu loan for credilla bank and if applied what are the chances of visa approval. Coz its not amongst the approved banks of canada. So what are its propects. Anyone got through it...
Do reply back.
genuine replies are highly appreciated.
not valid. It's a sister concern of HDFC bank. HDFC bank is a listed bank for Canada Visa. But Credila isn't. So It won't work unless they give you disbursal letter on HDFC letter head which I am quite sure they won't. So don't waste your time unless they agree to the following;
However, there is a solution to it now. So lets assume if your loan is disbursed from Credila and they pay 1 year fee ( or even one semester fee to college), you just need to attach unconditional LOA from college which doesn't talk about where the funds were received from.
They must also agree to transfer funds to GIC and you need to attach your GIC certificate, that's it. Now, this is where you will have trouble. Most banks are okay with paying college fee (as they are supposed to) but then when it comes to GIC, they aren't really comfortable with this step. Reason for that is, while transferring funds to GIC, you are the beneficiary and they assume you are abusing the education loan by taking the amount to your account. Now, it depends on your convincing skills, you can go with CHC print outs staying the process of GIC, and if they understand and agree, you are good to go. Else no point taking loan from them.
