Decent Loan Sanction Letter Format (FD and Non FD)

[Autumn25]

Hi royalsting,

Glad to know everybody amazed by your helpfull ideas.

This is my story,pls have a look and slove it Brother !

I did mba from New Delhi Last year,Having working experience in Banking as Grade 1 Manager at HSBC Bank.I earlier got I 20 from USA while Persuing MBA.But due to unavailability of funds,i stopped there to go and apply for it.

Now again,while doing this job,i decided to go outside for earning and apply for student visa.Now the main problem is i only have 3.5 lacs including my fathers savings in banks.No FD/Savings etc bcoz we only deal to buy or sell the properties of farming/plots.Neither My dad will give me a decent money at this stage for abroad studies..i am in touch with 8 consultancies but CONFUSED ALOT,WHAT to do with my financial proof as Newzealand asks for showing 6 lacs minium as living expenses which i dont have.

I am thinking to take a loan for PG course of 18 months or 1 year from Nationalised banks of india.So,the problem for me is to arrange and show income to them.What to do?pls suggest to me,as i cant manage savings statement of such amounts/nor FD/nor others.

Only thing i can do is to take a loan for living expenses if banks are giving.might it can help to my case for showing to the NZL ambassy.
Other is to sell Land whichs not possible really as FTS transfer after pre approval of visa.

Hope you can make some idea or mail me to Hemantsingh250585@gmail.com(personally can)

thanx brother..tc n bye

 

[domnicj]

Hello there,

I wanted to know what you think about my bank loan.

I applied for the load and the bank was not ready to give loan for just one year so they did some calculations n told its cost 2500000/- for 2 years inclusive of college fee n tuition n everything, and they gave me a loan of 14lk against property, parent 5lks n guarantor 29lk.

so am not sure if its all ok or no...

any suggestions.

 

[enfield]

Hello there,

I wanted to know what you think about my bank loan.

I applied for the load and the bank was not ready to give loan for just one year so they did some calculations n told its cost 2500000/- for 2 years inclusive of college fee n tuition n everything, and they gave me a loan of 14lk against property, parent 5lks n guarantor 29lk.

so am not sure if its all ok or no...

any suggestions.

Hi,

1. Is it really possible to secure a study loan for just 1st year of school? It's not possible (India).
2. I have noticed anything over Rs. 10 lacs is enough to cover 80% of 1st year tuition + CAD 8,000 (India).

 

[domnicj]

so even if the bank has given me 1400000/- for for 2 yrs am i still good to go???

 

[abhi.m]

Hi Royalsting

That was great thread with loads of best possible true info man. Good work but I appreciate u more for sharing back.

Thanks man

All the best!

 

[harry_aussie]

Great post Royalsting, +1 for you sir.

 

[Badshahussain]

Hello sir, really a great work for people who wish to take loan.

please help me with my case. as i am also applying under SPP my queries are

as you said loan amount will 80% of tution and living expenses.

in my case i want to pay 1st sem fee with cash and also the gic with cash. so that would be more then 70% of total what i need from loan is just 2nd sem fee. isnt that possible to get just 2nd sem fee since we have paid already the most of amount?

or at the other hand cant we take loan of 7.5 lac that would cover our whole 1 year tution fee and for living we have GIC in our hands? is that mandatory to have loan for 80% of total expenses?

 

[Jops]

Really important information . Thanks RoyalSting. I have applied to Univ of Regina for MASc in Electronic Systems and waiting for reply. Their first year tuition is almost 9k and stay will cost 10k per year. I'm planning to take an education loan and I went to SBI they offered me loan of 80% of total cost against mortgage of property at 12% interest. My doubts are following:
1. Is this loan sanction letter enough to prove my financial security for applying study permit.
2. Or Should make first year tuition payment without loan and transfer 10k to CIC account and add loan sanction paper along when applying for study permit.
3. How to start an account in CIC.

I'm a normal applicant not an SPP(partnership program). I hope you can help me with the bank process.

 

[Sachin29]

how difficult is it to get a higher education loan against a collateral?

 

[Amitkumar1994]

I want Education loan sanction letter format. Can anyone here to help me?