Education loan SDS requirement for Jan2021

[Nottanyaverma]

It's generally not suggested to take loans SDS or not for foreign studies. Take some time for yourself off this forum and make a proper decision.

A lot of my friends did this and are suffering in a debit trap with exorbitant interest rates.

Only if I had the money

 

[Nottanyaverma]

UPDATE: Guys, I got the unsecured loan (7.5 lacs) disbursed yesterday in my savings account!!!!!
My tuition fee for the first year is 21000CAD=11,55,000 lacs and the rest of the money (4 lacs) was paid by me.

 

[sarab1402]

UPDATE: Guys, I got the unsecured loan (7.5 lacs) disbursed yesterday in my savings account!!!!!
My tuition fee for the first year is 21000CAD=11,55,000 lacs and the rest of the money (4 lacs) was paid by me.

Hey can you share details intrest rate ? bank ? and check DM

 

[Nottanyaverma]

Hey can you share details intrest rate ? bank ? and check DM

I took an unsecured loan of 7.5 lacs from Punjab national bank. The ROI is 8.65% (for females) +0.5 for males.

 

[SC0312]

UPDATE: Guys, I got the unsecured loan (7.5 lacs) disbursed yesterday in my savings account!!!!!
My tuition fee for the first year is 21000CAD=11,55,000 lacs and the rest of the money (4 lacs) was paid by me.

Congratulations! Was the full loan amount disbursed in your account? And did you have to submit any additional documents stating the SDS rules? My bank said they disburse it according to semesters and not year-wise :\

 

[sarab1402]

Congratulations! Was the full loan amount disbursed in your account? And did you have to submit any additional documents stating the SDS rules? My bank said they disburse it according to semesters and not year-wise :\

They told me the same thing. In which bank you applied?

 

[Nottanyaverma]

Congratulations! Was the full loan amount disbursed in your account? And did you have to submit any additional documents stating the SDS rules? My bank said they disburse it according to semesters and not year-wise :\

Yes, I got the loan processed and disbursed in 17 days in my savings bank account. I had to explain to them all the requirements of SDS and also provide 2-3 print outs of the requirements.
Even my bank said they won't disburse the entire loan amount but when I provided my offer letter on which my first-year tuition fee was mentioned and SDS requirements which stated that the full amount of first-year tuition fee has to be, they happily disbursed it.

 

[Nottanyaverma]

They told me the same thing. In which bank you applied?

PNB

 

[SC0312]

They told me the same thing. In which bank you applied?

SBI. So how did you end up convincing them?

 

[Simmidas]

SBI. So how did you end up convincing them?

Most of the SBI banks won't disburse the pre-visa amount. I faced a similar challenge with SBI, my loan got sanctioned but they refused to do the disbursement. Also, They will only release the fund term wise. So I had to shift to ICICI Bank.

 

[SC0312]

Yes, I got the loan processed and disbursed in 17 days in my savings bank account. I had to explain to them all the requirements of SDS and also provide 2-3 print outs of the requirements.
Even my bank said they won't disburse the entire loan amount but when I provided my offer letter on which my first-year tuition fee was mentioned and SDS requirements which stated that the full amount of first-year tuition fee has to be, they happily disbursed it.

Okay. I hope SBI does this too.

 

[Nottanyaverma]

Okay. I hope SBI does this too.

Contact we make scholars. They will guide you throughout the entire process and they're a govt-funded organization, which means they won't charge you a dime

 

[SC0312]

Contact we make scholars. They will guide you throughout the entire process and they're a govt-funded organization, which means they won't charge you a dime

Oh okay. Awesome. Thank you

 

[orwell46]

Anybody trying for education loan for Jan 22? I visited Bank of baroda and was told that the rate is likely to be 9.6% with a processing time of a month for my master's program. Anybody got a better rate than this with faster processing? Exploring public sector banks as the private ones are likely to charge upward of 12 %

 

[yesWeCanada]

Okay. I hope SBI does this too.

I got SBI loan from SBI in Karnataka without the VISA approval since its SDS requirement including GIC. Loan amount was 25lacs with my house as collateral of course. They disbursed the entire amount for first year and GIC. There was no issue. I think the house collateral did it, I guess. 8.65% interest rate.