Loan Sanction Letter State Bank of Patiala

[soberdeepak]

Hi ! I got a loan sanction letter from SBP and it's a rural branch in Haryana ! Though it is on Bank letterhead but it doesn't have email address mentioned being a rural branch they don't have all these facilities !! My Question is how they will verify my loan letter !?? Wud it be a problem !! Plz share guys !!

 

[netchaos]

The VO can call up the bank, that is what they normally do.

 

[esakenong42]

Hi,
I will certainly call the bank and if they can not reach the bank then they will refuse your application. To be wise, transfer you credit to a bank which is reachable because as a student aiming to travel abroad for studies it's obvious that you have to proof your financial capability not by providing mere documents but providing documents which can be easily verified. I hope this helps

 

[deep22]

Hi soberdeepak,
Normal way of verification is phone call and they can verify from any main branch.
i think you should ask branch for e-mail of their main branch to which it is connected.
I am also going to apply for loan for one year pg course from a rural branch of this bank.
Please tell me about ur loan and course detail(program type & duration). Is it against FD or property of which type?
How long did it take for availing loan . what documents and requirements are of SBP.
thanks in advance.

 

[soberdeepak]

I'm goin for 1 yr PG cert course after MBA ! Full fee paid 13k CAD and 4 lac loan without any security !!!

 

[deep22]

hi deepak,
Are you applying under spp or general?
isn't your loan requirement wrong cos one must show loan sanction letter of 80% of one year full expensive.
don't you think you are not fulfilling the loan requirements of SPP.
I don't know exactly if we can show loan for living expense after filling the full fee?
experts please confirm........

 

[soberdeepak]

Hi deep !! We can deduct whatever we have paid!! I'm applying under SPP and after payin full fee I'm only left wid 10k CAD expenses and 4 lac is 80% of 5 lac so I qualify for that !!!

CHC says : 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).

 

[HBK]

hi deepak,
Are you applying under spp or general?
isn't your loan requirement wrong cos one must show loan sanction letter of 80% of one year full expensive.
don't you think you are not fulfilling the loan requirements of SPP.
I don't know exactly if we can show loan for living expense after filling the full fee?
experts please confirm........

Actually loan of 80% of tution fees is required, if u do not pay any advance fees from your saving balance.if you already paid 1st sem fees from saving account that amount will be deducted.


yes we can show living expenses from loan as well if we have not source of other fund.

 

[deep22]

thanks.
u mean after paying one year full fee, we can show loan of only living expense (4 lakh) only?
and loan of low amount has no negative effect on visa?

 

[HBK]

thanks.
u mean after paying one year full fee, we can show loan of only living expense (4 lakh) only?
and loan of low amount has no negative effect on visa?

Hi,
Yes
as said by soberdeepak according to spp checklist if you already paid your tution fees then you will have to take loan of 8000$ (living cost)
http://www.vfs-canada.co.in/pdf/Student_Partners_Program_(SPP)_in_india_190412.pdf

NO effect on visa

 

[deep22]

thanks Ashok,
and loan sanctioned without any security also has no effect on visa?
then these are myths ..........
to must pay first sem fee from loan.
loan must be against security.
must be of minimum of 8 lakh.
must show savings.
if paying fee from loan then loan must be of 12 lakh etc.?

 

[harpreet ss]

hey everyone !!
i got the refusal in last may session 2011 afterwards i go for CAIPS NOTES where they mention that my secondary board is unrecoganised,as i done my secondary education in 2010 from delhi board in commerce stream,then i was re-apper from recoganised board in non medical stream now i want to re-apply again in this september intake olz help me whether there,s any issue as i changed my study feild?any negativity in visa officer mind?

 

[HBK]

thanks Ashok,
and loan sanctioned without any security also has no effect on visa? doesent matter. v.o. just wants to see loan letter
then these are myths ..........
to must pay first sem fee from loan.
loan must be against security. myth
must be of minimum of 8 lakh. myth
must show savings. if your expenses are covered by loan than noneed to show saving balance
if paying fee from loan then loan must be of 12 lakh etc.? myth

 

[deep22]

to cover full expenses, loan should be 80% of total expense or full 100% of total expense?
Do you mean if one show 80% loan then it is must to show 20% in savings, and if one is showing loan for 100% of full expense then no need to show savings?
thanks.

 

[deep22]

I'm goin for 1 yr PG cert course after MBA ! Full fee paid 13k CAD and 4 lac loan without any security !!!

Hi soberdeepak,
weren't you taking loan of 8 lakh from SBP and paid 4 lakh fee advance,
now full fee and loan of 4 lakh, what happened and why changed ,
http://www.canadavisa.com/canada-immigration-discussion-board/loan-confusion-experts-please-help-t99808.0.html;msg1371886#msg1371886
thanks