Loan Sanction Letter State Bank of Patiala

[HHH]

Hi all
after reading your posts i thought i should post example.
Suppose my 1st year fee is 12000$
so as per spp checklist it would be 12000$+8000$(living cost) +2000$ air fare.
and i already paid 7000$ fees in advance.
so my loan would be -

12000$ (total tution fees)
- 7000$ (advance payment)

5000$ (remaining fees)
+ 8000$ (living expenses)
+ 2000$ (air fare)

= 15000$ (total loan)


so total loan would be 15000$ * 51 = 765000 INR ( round off)


THE ROCK

 

[soberdeepak]

Deep ! Bank was not takin agri land as collateral so jus too loan of 4 lacs which doesn't require any collateral and now paid full fee instead of jus first sem !!!!

 

[deep22]

ok. i am also in same situation. let's see what happens.
how many days bank take to sanction a loan of 4 lack. and third party guarantee is necessary for this or not?

thanks.

 

[guri dhillon]

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 !!

hi
do not worry if bank phone number is there than need not to be worry its not necessary that they will call ...they can verify online also as as now a days aalmost all bank have the facility of on9 banking

 

[soberdeepak]

Thanks Guri !! Deep for upto 4 lac of study loan u don't need anything ! U wud b the primary applicant nd ur dad will be co borrower ! That's it ! Interest rate is 13.5% PA

 

[deep22]

hi soberdeepak,
thanks for help. please tell me, how long did it take for loan of 4 lakh. What is the time and way of loan disbursement?
it is too sad that rural banks also not providing edu. loan against agri. land for study.
thank you very much.

 

[soberdeepak]

Deep it really depends on manager !! It doesn't take much time but these managers have no idea how things work !! He will only disburse money after I get visa but sanction letter is all we need !!

 

[deep22]

Hi Soberdeepak,
When are you applying for visa, please keep updating process.
thanks for sharing your experiences.
best of luck and thanks a lot.

 

[soberdeepak]

Deep I'm jus waitin for college to send me fee receipts !! Most probably by 31st may !! Yeah will keep postin any developments here !!!

 

[deep22]

ok Soberdeepak,
Best of luck.