Loan comparison of HDFC Bank Education Loan vs Axis Bank Education Loan

1. Education loan for Indian Education for Pre-sanction loans:

* Duly filled application form

* Latest photograph (Signed Across)

* Admission letter from the institute with the fee break–up

* Academic mark sheets (SSC, HSC and Graduation)

* Age proof

* Identity proof

* Residence proof

* Signature proof

* Salary slips of the last two months carrying the date of joining details (Salaried)

* Bank statement of the salary account for the last 6 months (Salaried)

* ITR of last two years with computation of income (Self-employed)

* Audited Balance Sheet or Profit and loss statement for the last 2 years (Self- employed)

* Bank statement for the last 6 months (Self-employed)

* Latest Sales or service tax return as proof of turnover (Self-employed)

* Proof of qualification (Self-employed)

2. Education loan for Indian Education for Post-sanction loans:

Even for post-sanction loans, you have to submit the above-mentioned documents. Along with them, the following is also required to be submitted:

* Completed loan agreement signed by the applicant and co-applicant

* PDCs, ACH or SI Mandate

* In case of ACH and SI mode of repayment, three security PDCs need to be submitted

Documents for Education Loan for salaried and other individuals:

* KYC documents

* Bank Statement / Pass Book of last 6 months

* Optional – Guarantor Form

* Copy of admission letter of the Institute along with fees schedule

* Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses

Additional Documents for Education Loan for all other Individuals:

* Documents required for the first disbursement

* Demand letter from college or university

* Loan agreement signed by applicant, co-applicants

* Sanction letter signed by the applicant, co-applicants

* Disbursement request form signed by applicant, co-applicants

* Receipts of margin money paid to the college/university along with bank statement reflecting the transaction

* Documents for collateral security (if applicable)

* Form A2 signed by applicant or co-applicants in case of overseas institute

Documents required for subsequent disbursement:

* Demand letter from college or university

* Disbursement request form signed by applicant, co-applicants

* Receipts of margin money paid to the college/university along with bank statement reflecting the transaction

* Exam progress report, mark sheet, bonafide certificate (Any one)

* Form A2 signed by applicant or co-applicants in case of overseas institute