Student Loan from a Canadian Bank backed by Bank in India

[dildar0408]

Dear friends,

Dildar Singh this side from India.

I got an offer from Rotman School of Management, University of Toronto for Master of Financial Risk Management. Rotman has tie-up with Bank of Montreal (BMO) and Royal Bank of Canada (RBC) for student loans. An international student can get the student loan from BMO/RBC and loan should be backed by cash collateral or Standby Letter of Credit (SBLC) from an Indian Bank. I want to get such a loan because of lower interest rate. However, I do not have any idea about SBLC and other processes.

Please guide me if anyone has experience with student loan from Canadian bank.

I have one more query. My advisor is saying that I should not go by this route. A loan from a Canadian bank will convince visa officer that I do not intend to come back after studies. Please advice me what should I do in this situation.

 

[mandeep62]

Dear friends,

Dildar Singh this side from India.

I got an offer from Rotman School of Management, University of Toronto for Master of Financial Risk Management. Rotman has tie-up with Bank of Montreal (BMO) and Royal Bank of Canada (RBC) for student loans. An international student can get the student loan from BMO/RBC and loan should be backed by cash collateral or Standby Letter of Credit (SBLC) from an Indian Bank. I want to get such a loan because of lower interest rate. However, I do not have any idea about SBLC and other processes.

Please guide me if anyone has experience with student loan from Canadian bank.

I have one more query. My advisor is saying that I should not go by this route. A loan from a Canadian bank will convince visa officer that I do not intend to come back after studies. Please advice me what should I do in this situation.

Your advisor might be right. You should take loan from financial institution in India.

 

[rajwinder111]

Dear friends,

Dildar Singh this side from India.

I got an offer from Rotman School of Management, University of Toronto for Master of Financial Risk Management. Rotman has tie-up with Bank of Montreal (BMO) and Royal Bank of Canada (RBC) for student loans. An international student can get the student loan from BMO/RBC and loan should be backed by cash collateral or Standby Letter of Credit (SBLC) from an Indian Bank. I want to get such a loan because of lower interest rate. However, I do not have any idea about SBLC and other processes.

Please guide me if anyone has experience with student loan from Canadian bank.

I have one more query. My advisor is saying that I should not go by this route. A loan from a Canadian bank will convince visa officer that I do not intend to come back after studies. Please advice me what should I do in this situation.

If you want to use canadian money (loan from Canadian bank) on your study in Canada than why Canadian govt give you visa .They want Indian currency to spend in Canada .

Secondly , if you want Loan from Canadian bank it means you cant afford your study expenses in Canada .they just simply refuse your visa .