Thanks Tiger and R for your inputs...
This is first time I am applying for student VISA. The loan is from UCO bank which is approved by CHC.
The Loan amount cannot be increased from Rs. 7.5 Lacs in my case as I don't have anything for collateral in Delhi. Please suggest what best I should do considering the above mentioned situation.
Again I will answer in one line (unlike this pussy tiger)........Pay your first term fees from saving and show Rs. 7.5 lacs in loan. And show all saving, investment papers.
I try to reply in detail..so the things should be as clear as possible. If you could take a loan of just 10lacs and apply under SPP...then you would not need any other documents.
But since..you cannot take a loan of more than 7.5 lacs, so take the loan... pay the 1st term fees from your pocket...attach the paid receipts and loan approval letter of 7.5 lacs.... and then APPLY UNDER SPP (If you are applying to a college listed on SPP list). This should do. Under SPP... you do not need to show any other extra documents.
If u see the official checklist:http://www.vfs-canada.co.in/pdf/Student_Partners_Program_(SPP)_in_india_190412.pdf
Copy of an Educational Loan from an Indian Chartered Bank equivalent to at least 80% of tuition +living + travel expenses for one academic year (normally, first year's tuition, unless already paid, plus $8000).
So..under SPP loan approval letter of 7.5lacs +1st sem fees paid is ENOUGH
...and unlike "R" who is asking you to show all savings and investment papers.... I strongly reccomend you to apply under SPP and do not add and extra documents. Follow the official checklist.
Also, keep in mind..if you are an Indian citizen applying for a Canadian study visa for the 1st time... that too to a Canadian educational institute listed under SPP, then if you miss the once in a lifetime opportunity to apply under SPP...(you can apply only once..and if you have any previous Canadian study visa rejection in any other category like SPP, General (Univ) or General..) you can never apply under SPP. The benifit of applying under SPP..is least documentation..much much faster proceesing time ...anywhere between 3-15 days.. and thus swift decesion is taken in your case file.
To check if the Canadian educational institute you are applying to..falls under SPP... see:http://www.cic.gc.ca/english/department/media/backgrounders/2010/2010-01-28.asp
Now..incase..your institute is NOT listed under SPP... or you are just stuck on applying under General category...then you will need to show other documents mainly ITR returns of you/your sponsor's ITR etc. and probably savings too.
If you see the general category checklist:http://www.vfs-canada.co.in/pdf/study_permit_17-05-2012.pdfIt is clearly mentioned..that it is strongly reccomended that you show:
AS A PREFERRED OPTION for proof of funds: A copy of an Educational Loan from an Indian Chartered Bank equivalent to at least 80% of tuition +living + travel expenses for one academic year (normally, first year's tuition, unless already paid, plus $8000). See information on the next page for the list of acceptable banks.
Copy of receipts for payment provided by the University (pre-payment of first term is strongly recommended)
Form 16 for salaried employees or income tax return document.
Reference letter from the individual(s) providing you financial assistance for your program. The letter must indicate their occupation and relationship to you, the number of dependents they have and their full contact details. You should also provide a letter from the employer of the individual(s) providing you financial assistance for your program, clearly indicating employer contact details and full street address of business location.
Even if you are unable to secure a loan amount equivalent to 80% of total expenses.. still.. under General you will need to show the loan approval letter of 7.5lacs+ 1st sem fees paid receipt+ ITR returns+ reference letter as to who is your sponsor (if any) +savings (I THINK... it's optional in your case...as you will be covering the financial requiremnts with loan+1st sem fees paid... as ONLY those who have not secured any kind of loan form an approved bank..will need to show all savings/investment papers etc etc. You should confirm this elsewhere too.)
So..it's upto you to apply under General or SPP.
Best of Luck.
***All info provided is to the best of my knowledge, and you should consult other sources too.
Rather than calling names..and acting like 1 tough know-it-all smarty... kindly contribute more (in a meaningful way) on this forum. We all are here for a reason...for to share ideas and knowledge about this topic(Canadian visa).. and it would be appreciated if you could do so...without calling names or mocking others. As you see..many of us here do mistakes..ask stupid questions..or are plainly confused..we look here for help..not to get mocked or insulted. Hope you get my point.
Have a good day.