How many of u got the GIC?

[vivekforbes]

what time you received on 20th (IST)??

You wiil receive around midnight around 1 clock if you are in india.

 

[mayank_6]

@Vivekforbes

Are you sure about this that SBI wont allow me to take money from the loan account and transfer to GIC account ?

 

[StudentHospitality]

hi all,
i paid my GIC on 19 march , do i need to mail them again regarding this? tht i transferd 10100 CAD ?

Have you received any update form Scotiabank?

 

[vivekforbes]

@ Vivekforbes

Are you sure about this that SBI wont allow me to take money from the loan account and transfer to GIC account ?

Yep. That's what bank manager told me where I took loan. You can ask the bank manager where you are taking the loan.

 

[ms.mech]

@ Vivekforbes

Are you sure about this that SBI wont allow me to take money from the loan account and transfer to GIC account ?

Brother, I told you. My father is retired manager. He told me Public sector bank's can never ever transfer money of education loan in personal account. The money is transferred directly into account of Institution or you can get a draft made in name of Institution.

 

[ms.mech]

@ Vivekforbes

Are you sure about this that SBI wont allow me to take money from the loan account and transfer to GIC account ?

The only option for you is


1. Stay in University's residence (They are costly).

2. Take education loan for tuition fees and another home loan or personal loan of GIC amount and use that money for GIC. After you get part time job use that money for repayment of home loan.

Consult your bank manager with this. Education loan's repayment start after 1year of completion of studies or 6months of getting professional job(which ever is earlier).

 

[moneywater]

ms mech.....reply....if GIC is is bought with personal money...then loan is not required....when filing visa under SPP ????

thanks

 

[ms.mech]

ms mech.....reply....if GIC is is bought with personal money...then loan is not required....when filing visa under SPP ????

thanks

No. According to SPP checklist, you need to submit 1year fees and purchase GIC only. No requirement of loan in SPP.


Best of Luck.

 

[mayank_6]

@vivekforbes

Got ur point.. If this is the case than i am not gonna take GIC and just show the loan of 10k$ equivalent from indian chartered bank... I will be taking a single education loan only.Since, GIC is not mandatory for university applicants and its written in the checklist present in the vfs website as an alternate option .

 

[vivekforbes]

@ vivekforbes

Got ur point.. If this is the case than i am not gonna take GIC and just show the loan of 10k$ equivalent from indian chartered bank... I will be taking a single education loan only.Since, GIC is not mandatory for university applicants and its written in the checklist present in the vfs website as an alternate option .

GIC is mandatory if you file under SPP else you should file under general.

 

[sujeeth]

i got mine

 

[mayank_6]

@Vivekforbes

What about 3rd category of Visa- University one ?? There also GIC is not mandatory

 

[vivekforbes]

@ Vivekforbes

What about 3rd category of Visa- University one ?? There also GIC is not mandatory

I dont know about university category. Better look at CIC website.

 

[gaur9786]

u can pay the tution fee or GIC if you have mentioned both in the loan application.

first of all they will transfer the money from loan account to your saving account in the same bank.

from that saving account your funds will be transferred to both scotia bank and university.

i have done the same thing...so it is possible.

thx

 

[mayank_6]

@Gaurav

Which Bank ?

What I Have heard and confirmed from Loan officers of SBI that they won't let the loan amount xfer to Saving account..they make transaction directly in the Institution account