Table of Contents
Introduction
Applying for an education loan is an important step towards realizing your academic aspirations. HDFC Credila, a leading provider of education loans in India, offers financial assistance to students pursuing higher education in India and abroad. To ensure a smooth loan application process, it’s crucial to have all the necessary documents in place. In this blog, we will outline the essential documents required when applying for an HDFC Credila Education Loan.
Fully Completed and Signed Application Form:
Start by filling out the loan application form provided by HDFC Credila. Ensure that all sections are duly completed and signed. Click here to download Form
Photos:
Attach two passport-sized photographs of both the applicant and the co-applicant. One set should be pasted on the application form, and the second set should be affixed/stapled to the form.
Photo ID:
Submit a valid photo ID document for both the applicant and the co-applicant. Accepted IDs include Permanent Account Number (PAN) Card, Voter’s ID Card, Passport, Driving License, or Aadhaar Card.
Residence Proof:
Provide a document to verify the residence of both the applicant and the co-applicant. Accepted proofs include Passport, Driving License, Aadhaar Card, Voter’s ID Card, or any other document demonstrating the current residential address.
Academic Documents of Student:
Submit relevant academic documents, such as mark sheets and certificates for the 12th examination and subsequent years of education. Additionally, include mark sheets of any entrance exams taken (e.g., CAT, CET, GRE, GMAT, IELTS, TOEFL) if applicable. Scholarships documents should also be provided, if applicable.
Proof of Admission:
Include a printed admission letter from the institute on its official letterhead, stating the institute’s address and confirming the applicant’s admission.
Bank Statements:
Submit the last eight months’ bank statements of the co-applicant. Include statements from all bank accounts, especially the one where salary or business/professional receipts are regularly credited.
Income Proof of Co-Applicant:
For salaried employees, provide the latest three salary slips or a salary certificate on the employer’s letterhead. Include the last two year’s Form 16 or income tax returns. Self-employed individuals should provide the last two year’s income tax returns, certified financial statements or provisional financial statements duly certified by a chartered accountant (CA), proof of office, and any other income proof not reflected in the above documents.
Immovable Property Documents (If collateral is applicable):
If collateral in the form of immovable property (flat, house, non-agricultural land) is provided, submit relevant documents such as property title deed, extracts, registered sale agreement, previous chain of sale deeds, maintenance bills, property tax bills, NOC for mortgage, approved building plan, and encumbrance certificates.
Conclusion:
To successfully apply for an HDFC Credila Education Loan, it is essential to have all the required documents in order. Make sure to carefully gather and submit the fully completed application form, photographs, photo IDs, residence proofs, academic documents, proof of admission, bank statements, income proofs of the co-applicant, and any relevant property documents if collateral is involved. By fulfilling these document requirements, you can expedite the loan application process and increase your chances of securing the education financing you need.
(FAQs) related to the essential documents required for an HDFC Credila Education Loan
1. What documents are required for an HDFC Credila Education Loan?
The essential documents required for an HDFC Credila Education Loan include a fully completed and signed application form, passport-sized photos of the applicant and co-applicant, photo IDs, residence proofs, academic documents, proof of admission, bank statements, income proof of the co-applicant, and immovable property documents if collateral is involved.
2. Can I submit a digital copy of the documents?
Yes, HDFC Credila accepts scanned or digital copies of the required documents. However, it is advisable to check the specific requirements and instructions provided by HDFC Credila to ensure compliance.
3. Are self-attested copies of the documents acceptable?
Yes, self-attested copies of the documents are generally accepted. Make sure to sign each document appropriately to confirm its authenticity.
4. Can I apply for an HDFC Credila Education Loan without a co-applicant?
No, HDFC Credila requires the presence of a co-applicant for the loan application. The co-applicant must be an earning relative of the student, such as the father, mother, brother, sister (married), or spouse, and their income will be considered in determining the loan eligibility.
5. Do I need to submit original documents to HDFC Credila?
No, you should not provide any original supporting documents to HDFC Credila during the loan application process. All the copies of the required documents should be self-attested. Keep the original documents safe for verification purposes, if required.
6. How do I ensure that my application is complete with all the necessary documents?
Carefully review the list of required documents provided by HDFC Credila and ensure that you have gathered all the necessary documents. Double-check the application form and attachments before submitting to avoid any missing information.
7. Is there a specific format or template for the application form?
HDFC Credila provides a loan application form that needs to be fully completed and signed. You can obtain the application form from the official HDFC Credila website or through their designated channels.
8. Are the document requirements the same for loans in India and abroad?
The basic document requirements for HDFC Credila Education Loans are generally the same for both domestic and international studies. However, certain additional documents, such as proof of admission and fee structure for foreign institutions, may be required for studying abroad.
