spp program loan requirements.

[sandyboy1210]

Hey,

I m an international student from India with bachelor of pharmacy degree.I now applied for a 2 year advanced diploma program named environmental protection technology co-op(#4232) program(Sep 2010) in centennial college and received my offer letter.The total cost including living expenses in Canadian Dollars is 23,191.12 .i wish to apply for my visa via SPP 2010.It is said that at least 80% of expenses as educational loan should be shown,the rest 20 % can be from personal funds.Is a bank statement of the rest money enough to show as the personal fund?Does anything else can be shown as a personal fund?Does the loan amount has to be shown in Canadian dollars or Indian rupees??Please advise.

Regards
Sandeep

 

[vibez_well]

hey Sandeep,

yes, 80% of the amt has to be a loan. rest can be personal funds.
the loan has to be from an Indian bank - that too from the list specified by the CHC.
since its an Indian bank that will give you the loan, it will be in INR.

you will also have show that the 1st sem/yr fees has been paid by you prior to applying for the visa. you will have to do that without delay, the last dates for paying the fees to register your seat is almost here.

i guess liquid funds in the bank a/c is acceptable.
note: read somewhere that FD, certificates, bank statements are not accepted, only a statement of financial records are. I suppose you should get it done by a chartered accountant and for that, you will need to provide the bank statement and other financial records. do check it up.

 

[earthlover]

hey Sandeep,

yes, 80% of the amt has to be a loan. rest can be personal funds.
the loan has to be from an Indian bank - that too from the list specified by the CHC.
since its an Indian bank that will give you the loan, it will be in INR.

you will also have show that the 1st sem/yr fees has been paid by you prior to applying for the visa. you will have to do that without delay, the last dates for paying the fees to register your seat is almost here.

i guess liquid funds in the bank a/c is acceptable.
note: read somewhere that FD, certificates, bank statements are not accepted, only a statement of financial records are. I suppose you should get it done by a chartered accountant and for that, you will need to provide the bank statement and other financial records. do check it up.

Hi vibez well,

My 1 year postgraduate diploma program cost is INR 10.5, If I pay my 1st semester fee before applying for visa than how much loan I need to show and in addition to loan how much extra funds I need to show and how much sources of funds. I asked someone he told me that I need to show 5 lacs of liquid money is it correct?

 

[vibez_well]

see, about the paying the fees thingie, its a matter or rolling cash. tell the bank where you are going to take the edu loan from, that you are paying the fees from ur own pocket because the due date is near. ask them if this can be reimbursed to you once the loan is sanctioned. to my knowledge, SBT (state bank of travancore) will do this. provided that you have all the transaction details, SWIFT details, fee receipt copy etc and it is claimed within 1 month of payment/loan sanction.

simple rule for liquid cash would be 10000 CAD for a year, since its SPP... you need 20% of the fee+living exp as liquid cash. but then its always better to show more cash in the account. not a huuge amt.

1 think 5 lakhs is too much to show (am not sure there is something as 'too much cash') but I've heard a consultant advise not to show too much as they would suspect some fake deals involved. 5 lakhs is more than 10K CAD which is more than the CHC requirements. 3 L seems to be an ok amt.

i believe the whole deal is about showing ties to India.... & that you will return. manage that; and half the battle is won.

all this is my personal opinion. pls do some more research and decide

 

[sandyboy1210]

thanks....so what i m gonna do is to put a fd of 10 lakhs in indian bank and take an educational loan of 9 lakhs against it.also i m gonna show an amount of 2-3 lakhs in my savings account.is this enough for the visa purpose?so totally i would be able t show an amount of 12.5 - 13 lakhs...is it enough?

 

[hardeep_chandigarh]

Hi

Please check the article related to your question at ww.canada-spp.com/education-loan-details/

 

[hardeep_chandigarh]

www[dot]canada-spp[dot]com/education-loan-details/

 

[kugaa]

question no 6 (a) IMMIGRATION STATUS OF APPLICANT IN COUNTRY WHERE APPLYING:

options are:
CITIZEN, PERMENANT RESIDENT, TEMPRORY, WORKER, STUDENT, OTHER


wat should b the answer ???...i am in pakistan n applying for the student visa...

 

[sandyboy1210]

thanks a lot hardeep.......

 

[hardeep_chandigarh]

My Pleasure

 

[sandyboy1210]

how we should show the personal funds thn??...is a bank statement enough??...is it necessary that the funds which we show should be in the bank since last 6 months or more??if not what should we do?...is there any other thing which can be shown as personal fund??

 

[hardeep_chandigarh]

Please have all the answers to your questions at

www[dot]canada-spp[dot]com/how-much-funds-to-show-for-visa/