Hi guys,
Need your quick advice.
My course is 20 months long. My entire expenses (Tuition plus living) would be around INR 40 lakhs.
Now my father and my mother are my sponsors. They usually have 30-40 lakhs in their CURRENT accounts. So now, what I have done is, I have created an FD of 40 lakhs and will get a loan against it. Around 32 lakhs. Which should be enough for the First year.
I just wanted to ask whether this will he fine or not?
The FD is new. But I will attach the last 6 minths statements of my Dad’s current account. To show some funds, we will also transfer around 8-10 lakhs in the savings accounts.
So will the Loan against a new FD be a reliable source for POF?
Also, I can attach one of the property papers to be ultra safe.
Please let me know if this is alright. Any sort of advice is appreciated.
Thansk!!
Need your quick advice.
My course is 20 months long. My entire expenses (Tuition plus living) would be around INR 40 lakhs.
Now my father and my mother are my sponsors. They usually have 30-40 lakhs in their CURRENT accounts. So now, what I have done is, I have created an FD of 40 lakhs and will get a loan against it. Around 32 lakhs. Which should be enough for the First year.
I just wanted to ask whether this will he fine or not?
The FD is new. But I will attach the last 6 minths statements of my Dad’s current account. To show some funds, we will also transfer around 8-10 lakhs in the savings accounts.
So will the Loan against a new FD be a reliable source for POF?
Also, I can attach one of the property papers to be ultra safe.
Please let me know if this is alright. Any sort of advice is appreciated.
Thansk!!
