Can I get secured loan for the entire amount mentioned in I20 form (which will be equal to expenses incurred for an year)
Hi Welcome to the session.
Q no:1 Which bank is better if i plan to choose secured loans and planning to take 50L loan max ? What are the ROI for these below mentioned banks ?
- SBI
- Bank of Baroda
- Any other reliable banks ?
Q.no:2 Is it possible to take loan by providing tangible and intangible assets. Like house & Insurance policy name of my parents ?
Q.no:3 Is it possible to do like this: myself (loan applicant) , Guarantor - my father (Name of the property) and Co-Applcant ( my brother - working and filing ITR) ?
Hi,
I have loan requirement of 17 lakh. How much amount of FD can be considered as a collateral. Please suggest.
Q.no: 4: Can you speak about the margin money involved in the SBI and BOB? . If I am taking loan for 50L max (secured loan) how much margin money should i need to have ?.
How to calculate it ?
Q.no:5 Can you explain the process of sending the money (from India) to University (USD) ?. How to transfer money internationally ?.
How much living cost money can we take from the loan ?. Will bank credit the money directly to our account for living cost ?
Q.no:6 how much time is required to get loan sanctioned from SBI if i made all documents ready ?.
Q.no:7 Is it possible to ask the bank to transfer living cost money to my NIYO Global Card?
WIth the new tax system in place ?. Suppose if the new tax system in India after 1 year becomes fully implemented then will we be able to benefit from section 80E in loan ?
Can I use loan sanction letter for getting i20 from the university?
Is it mandatory to have finance supporting docs (loan sanction letter) to get i20 from University ?
FDs vs Property. Which is better as collateral?
If I use FD as collateral will I still earn interest from those FDs?
Q.no:3 Re: Is it possible to do like this: myself (loan applicant) , Guarantor - my father (Name of the property) and Co-Applcant ( my brother - working and filing ITR) ?
I am asking this for secured loans and since my brother is working he can avail section 80E ? … So is this scenario possible ?
who can be co-applicant for unsecured loan ? like cousin etc.
highlight for process of unsecured loan
I want to opt for two different courses for two years but I need a loan for the only first-year when will my EMI would start?
Which banks offer non-secured education loan for around 30 lacks in India?
Replying on behalf of the speaker -
SBI is better than BOB even though the ROI of SBI might be a bit higher. It is 9.7% for men currently and 9.2% for women. Whereas in case BOB, if you go to the prime institute, the ROI is 9.4% for men and 8.9% for women. The difference is minimal, you should go ahead with SBI. There are no other reliable banks. If there is a loan with property you should go ahead with SBI or BOB. They have been in the field of education loans for so many years and they know their bit. If your university has a particular demand about the fee transfer then they will be in position to do that. Whereas other lenders will have to take permissions and approval. GyanDhan always advises students to take a secured loan from SBI or BOB only.
You can get an unsecured loan from Axis Bank and ICICI Bank. We work with both of them.
The amount also depends on the course, college and country. You can contact GyanDhan Education loan counselor and they will be able to tell you if you are eligible for the loan or not.