Education loan trouble ..help guys !!

[neeraj1985]

Hi Everyone, I have got admission to Global Business Management at Humber college, Toronto. My payment due date is November 09, 2011.

After receiving acceptance letter, I have been facing serious trouble in getting an education loan. I have been to a lot of banks but get to hear one or the other crappy reasons for not accepting the loan. For example:

- Oriental Bank of Commerce, J & K bank, Karnataka Bank, Vijaya Bank gives education loans to people who have an account with them for at least last six months.

- Punjab National Bank, State Bank of India, IDBI Bank, Indian overseas Bank, Bank of India don't give out loan for PG Certificates or diploma for studies abroad.

About my financial standing:

Personal Savings in SBI - 3.75 Lakhs
Fixed Deposits in ICICI Bank - 2.50 Lakhs
Provident Fund - 1 Lakh plus

Mother's Savings Account at Union Bank of India - 1.20 Lakhs.

Residential Property Worth 17 Lakhs (easy)

If any of you guys have got a loan from any of the bank for PG Diploma/Certificate, who suggested me that they don't provide loans for these kind of courses - please provide me the loan sanction letter number so that I can get back to them with correct and relevant information...or email it to me at neeraj1985@yahoo.com.


It's now reached the urgency stage ....pls give some inputs...

 

[marjana harman]

bro these banks sanction a loan on a certificte and diplomas if u have fd

 

[neeraj1985]

If that's the case...then I am just screwed ....because I don't have that much amount to put an FD in place.....

 

[punam]

try uco bank...u l surely get d loan

 

[parth1989]

dude u consult ur overseas consultants...they'll tell u another way for dis...4 sure... ...trust me its easy...

 

[neeraj1985]

try uco bank...u l surely get d loan

Hey Punam ...did you also apply at UCO bank...If yes, can you give me some specific details .....like,

* The amount for which you applied at the bank..
* The collateral you used for loan, if applicable.
* If you got the loan approved through (if using residential property as collateral), can you give me a loan sanction letter number to my email ID if you can...because it will help me expedite it with the concerned bank.


Thank you for you response !!

 

[geetdhillon]

same condition and i had already submited my fees

 

[Lovely_16]

same condition and i had already submited my fees

Hey Geet u have taken loan from which bank and against property or loan? How much time it take to get loan?

 

[geetdhillon]

lovely mera loan nai hua abhi same reason was given by the bank that we dun provide loan on diploma/certificate and i dun provide any type of security only they asked for govt employee as a gurantor ab shayd mein punjab se karwaugi loan on FD basis

 

[enfield]

Hi Everyone, I have got admission to Global Business Management at Humber college, Toronto. My payment due date is November 09, 2011.

After receiving acceptance letter, I have been facing serious trouble in getting an education loan. I have been to a lot of banks but get to hear one or the other crappy reasons for not accepting the loan. For example:

- Oriental Bank of Commerce, J & K bank, Karnataka Bank, Vijaya Bank gives education loans to people who have an account with them for at least last six months.

- Punjab National Bank, State Bank of India, IDBI Bank, Indian overseas Bank, Bank of India don't give out loan for PG Certificates or diploma for studies abroad.

About my financial standing:

Personal Savings in SBI - 3.75 Lakhs
Fixed Deposits in ICICI Bank - 2.50 Lakhs
Provident Fund - 1 Lakh plus

Mother's Savings Account at Union Bank of India - 1.20 Lakhs.

Residential Property Worth 17 Lakhs (easy)

If any of you guys have got a loan from any of the bank for PG Diploma/Certificate, who suggested me that they don't provide loans for these kind of courses - please provide me the loan sanction letter number so that I can get back to them with correct and relevant information...or email it to me at neeraj1985 @ yahoo.com.


It's now reached the urgency stage ....pls give some inputs...

Hi,


I think the requirement of minimum 6 month old account is a must condition with all Public Sector Bank in India (Well, not fully sure!).

Its true Punjab National Bank, State Bank of India (may be others as well) do not entertain any application for Diploma/certificate courses. But UCO bank do accept application for Diploma (not sure of certificate course) course. And loan is issued mainly against immovable property like land/flat. UCO bank follow in-house procedure like valuation from a locally appointed lawyer and thereby issuance of 85 percent of required loan.


Refer UCO bank website.

 

[neeraj1985]

Thanks so much everyone....

Tommorow I am going to go to UCO bank and find it out everything..

After the inputs from everyone it seems like it's going to be my last shot....

 

[sandhujas]

obc gives loan for diplomas

u can check there website for formalities....

 

[neeraj1985]

obc gives loan for diplomas

u can check there website for formalities....

Oriental bank of Commerce ....requires that I should have a bank account with them for at least last 6 months before I can apply for any sort of loan.....

getting a loan is tougher than getting PR I guess....

 

[sandhujas]

nai ehda di koi gaal nai hai


mein 16th of sept nu account open kita

28nu loan letter le andi

 

[neeraj1985]

Ok...

Waise bro did you apply for loan against FD or was it against some property like house or some other immovable property....?