Student Loan Requirements

[singh-ak]

Hi,



Syndicate Bank;

Security
For loans upto Rs.4.00 lac - NIL.
For loans above Rs.4.00 lac and upto Rs.7.50 lac - Collateral in the form of satisfactory third party guarantee acceptable to the Bank.
For loans above Rs.7.50 lac - Collateral security with 25% margin covering the loan amount and assignment of future income of the student for payment of loan instalments.

http://syndicatebank.in/scripts/SyndVidya.aspx

I agree this is the rule for all indian government banks

 

[shlok shahani]

my branch's manager said that they will provide upto 15 lacs with the sign of a guarentor

remember brother i told u dis same thing over whatsapp??
all PSU BANKS have the same norm and SYNDICATE BANK is no exception.
ur manager either doesnt know the rule or he is fooling you to get into the process...plan accordingly brother!

 

[singh-ak]

remember brother i told u dis same thing over whatsapp??
all PSU BANKS have the same norm and SYNDICATE BANK is no exception.
ur manager either doesnt know the rule or he is fooling you to get into the process...plan accordingly brother!

If your manager is fooling you or doesnt knows the rules then the best bet would be to contact the head office or try another bank

 

[napnusion]

I don't know much about bank formalities for taking the loan.

But, Under SPP (under which you will apply) you would atleast require :

Tuition Fees (CAD 14,000) + GIC (10,100) = CAD 24,100

= ₹ 13,49,600 (@ 1 CAD = ₹ 56)

So take loan accordingly.

 

[lucifer_2510]

If your manager is fooling you or doesnt knows the rules then the best bet would be to contact the head office or try another bank

i wont be taking loan bro...may be the branch manager doesnot know about the process ....

I don't know much about bank formalities for taking the loan.

But, Under SPP (under which you will apply) you would atleast require :

Tuition Fees (CAD 14,000) + GIC (10,100) = CAD 24,100

= ₹ 13,49,600 ( @ 1 CAD = ₹ 56)

So take loan accordingly.

Take a higher rate than the rate suggested. banks get huge profits from forex........ for e.g, if the rate is 56 thn they will buy dollars from u at 54 and they will sell $ at 58. so olways take (+1.50 - 2.00)