Axis Loan Application: Fill & Download for Free

Both are NBFCs and offer loans at higher rates (between 11.5% and 15%) compared to any public sector bank. Coming to which of the two is a more preferable option, Credila’s is better for Canada and the USA, for other countries Avanse is better.Credila’s approval rate is lower as compare to Avanse. Avanse may provide you with a loan even if your academic profile is weak or the CIBIL score is low.When opting for a particular loan, students must keep the aforementioned factors like CIBIL score, academic profile, co-applicant income in mind. Because rejection of loan application due to inadequacies in these weighing parameters may lower down the chances of loan approval in the future as well.These lender’s executives receive incentives for each loan requirement they receive, and hence, they enter your requirement in the database without analyzing your profile. It is only later that you are informed whether your application has been approved. Therefore, in case your loan is rejected, it gets recorded in the history of your dealings with the bank thus affecting your creditworthiness and posing a serious threat to your loan applications in the future.So, it is highly recommended to get your profile evaluated first with GyanDhan’s help and then apply for the best possible option which would suit you.Gyandhan evaluates your profile and then starts your loan application process with the most suitable lender which will help you get the desired amount at the right rates. To start off your application process through them, check your loan eligibility here. They have corporate tie-ups with banks like SBI, Bank of Baroda, Axis Bank and all the NBFCs.GyanDhan has a team of education loan counselors who are highly professional and keep your requirements in mind before starting your process with any lender. The best thing is that all the services are provided for free. They conduct their processes in an absolutely transparent manner and clearly tell you if your loan is not possible, unlike other lenders who do not care about your credit scores.

The process flow of loan processing is more or less similar in all the banks. The only difference is between private and government banks. In government banks loans upto a particular amount can be disbursed at tje branch level depending on the sanctioning power of the particular branch head. Whereas in private banks like Axis Bank,HDFC Bank, ICICI Bank etc there is no sanctioning power to the branch heads at local branch level and all the loans are sanctioned from a centralized credit team. Now the main stages of loan process in a private bank like HDFC Bank are as given below-Complete list of documents as prescribed by the loan officer is submitted to the bank by the customerThe documents are then scrutinized by the loan officer/sales manager/ Relationship manager at the local branch level and if all the documents are correct he will login the file in their system and courier the documents to their centralized loan centre. or if any additional documents are required the customer is informed for the same.At the loan centre the loan application is scrutinized by the credit officer and as per the banks policies and criterias a decision is made whether to approve the sanction or reject the case. Also depending on the amount of the file the loan application can be referred to senior credit officers. This process takes anywhere between 3 to 5 days.Once the loan is approved the bank issues a sanction letter with the final amount of loan as approved by the credit team.Now the loan is 100% confirmed from the banks side . Now the loan officer will get the signatures of the customer on the sanction letter and loan agreement . and then he will send the file to loan operations team for disbursement process. The time taken between sanction and disbursement is usually 3 to 5 days depending on the efficiency of the bank officers and the completeness of the customer documents.Hope my answer is helpfull. Also nowadays banks like HDFC Bank provide sms alerts during the processing of loan applications so that you know in which stage your loan application is stuck. Also you can directly call the customer care and know the status of your loan by providing the loan application number.

Loan Department scrutinise /process loan applications and ensures compliance with requirements .