Student Loan Process and Guidance
- Thread starter ashu1986
- Start date
If you want it from HDFC then they have CREDILA as their partner for loans and processing.
But remember u have to give all the document copies - ur income info, property pages, license, adhar card etc etc. Huge list but they process it. Banks may or also ask u to keep ur original property papers with them (U may need extra local municipal cost to be paid for transfer of property status as lien - non sellable till loan paid)
Loan is only given to the family member blood relation in India, not u - if u run away they wont chase u in other country, So its a co-signed loan. They will have to pay every penny for ur karma.. lol (take it easy)
Interest Rates: start from 11% to 13- 15%, 18%
1. First decide why u want education loan?
2. If u can keep FD and get a loan on that, it will hardly take 2days...
banks love secured loans - if ur papa is senior citizen then this is easier too.
3.What should the loan cover:
Loan should cover
a. tuition fees;
b. living expenses
c. return transportation (flight tickets to & fro) .
Some banks are very confused regarding the entire process. so its better to take it from banks which have already issued it.
SOme banks need acceptance letter before loan, but some colleges wont give unless u prove u have money.. lol
It depends on ur college first.
If you have good money, book a Fixed Deposit - take loan on that basis. Its better than going through all documentation in India.
Make calls to canada - to ur college - first decide ur course.. (Skype has free calls FYI)
But remember u have to give all the document copies - ur income info, property pages, license, adhar card etc etc. Huge list but they process it. Banks may or also ask u to keep ur original property papers with them (U may need extra local municipal cost to be paid for transfer of property status as lien - non sellable till loan paid)
Loan is only given to the family member blood relation in India, not u - if u run away they wont chase u in other country, So its a co-signed loan. They will have to pay every penny for ur karma.. lol (take it easy)
Interest Rates: start from 11% to 13- 15%, 18%
1. First decide why u want education loan?
2. If u can keep FD and get a loan on that, it will hardly take 2days...
banks love secured loans - if ur papa is senior citizen then this is easier too.3.What should the loan cover:
Loan should cover
a. tuition fees;
b. living expenses
c. return transportation (flight tickets to & fro) .
Some banks are very confused regarding the entire process. so its better to take it from banks which have already issued it.
SOme banks need acceptance letter before loan, but some colleges wont give unless u prove u have money.. lol
It depends on ur college first.
If you have good money, book a Fixed Deposit - take loan on that basis. Its better than going through all documentation in India.
Make calls to canada - to ur college - first decide ur course.. (Skype has free calls FYI)
Here are some links for you:
Oops.. I am new here so cannot post links. so I will type what u should search on google:
Educational Loan from an Indian Chartered Bank
canada-spp education loan from Indian banks
(url will have canada-spp)
Colleges with SPP
CIC Colleges with SPP canada
(url will have cic gc ca )
Intl Student - Approved Colleges - Official List
cic Backgrounder - Canada in India Student Partners Program
Oops.. I am new here so cannot post links. so I will type what u should search on google:
Educational Loan from an Indian Chartered Bank
canada-spp education loan from Indian banks
(url will have canada-spp)
Colleges with SPP
CIC Colleges with SPP canada
(url will have cic gc ca )
Intl Student - Approved Colleges - Official List
cic Backgrounder - Canada in India Student Partners Program