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SBI Education Loan and VISA finances queries
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surrealvortex Offline
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Post: #16
RE: SBI Education Loan and VISA finances queries
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Try to get an in principle sanction letter. Otherwise, approach a private bank for getting the letter for visa purposes alone.

10-27-2012 01:40 AM
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coolstuff1989 Offline
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Post: #17
RE: SBI Education Loan and VISA finances queries
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I m in the process of pushing my file through some influential people in SBI.. Hope that i at least get principle sanction letter.

But I want to set a back up plan..
surrealvortex, Could you please elaborate on the above point for getting the letter for visa purposes alone from private banks..?? I feel this can work.. Thanks a lot man!!

Also please let me know if there are any other ways..

Coolstuff1989 - ASU | UFL | ISU | IUB | Syracuse| UTD
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10-27-2012 08:25 PM
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surrealvortex Offline
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Post: #18
RE: SBI Education Loan and VISA finances queries
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You just have to apply for an educational loan at a private bank. They will do the same old property evaluation stuff and document verification, but it will be done in a week. I would suggest going to a private bank that does not charge any processing fee. I approached Karur Vysya Bank for this purpose, because SBI was very slow processing my application.

HDFC charges a 1% initial charge, so that is an expensive option.

You will still need to shell out for property evaluation and legal opinion, but that should not be very expensive- it may cost around Rs. 6000 overall.

10-27-2012 11:37 PM
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tsantoo Offline
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Post: #19
RE: SBI Education Loan and VISA finances queries
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We have to pay 0.5% for Mortgage to Registrar and 0.5% for something else I forgot, so if we are applying for 20L, that itself is 20K and for every eval or legal opinion we have to pay around 1K. All this and what if something happens to Visa at end ?

What about this loan processing, Visa fee, SEVIS Fee ? I don't mean Visa will get screwed, but just wanted know.

Cheers,
Santosh

My InfoBank UFL | UIC | GMU | UTD
10-28-2012 12:49 AM
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awesomeraman Offline
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Post: #20
RE: SBI Education Loan and VISA finances queries
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coolstuff1989 hey bro, when did you took the visa appointment. Can you please update here the availability of F1 visa appointments of the date when you took your appointment. It will really be helpful for many guys.

Thanks in advance.

Tag me for CS and Visa regarding help around Virginia and Texas, Specially ODU, UTA, UTD

Spring 2013 ODU

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10-30-2012 06:33 PM
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coolstuff1989 Offline
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Post: #21
RE: SBI Education Loan and VISA finances queries
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awesomeraman, I booked my slot on 24th Oct for Nov 16th .. At that time i saw free slots on 5,6,7,8,13,14,15,16.. aprrox (vaguely remember).. But i dont know the current availability.. I heard from someone that most of the slots in Nov are booked,, (I heard that.. really dont know for sure whats the current status)..

Coolstuff1989 - ASU | UFL | ISU | IUB | Syracuse| UTD
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10-30-2012 10:15 PM
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dark22cross Offline
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Post: #22
RE: SBI Education Loan and VISA finances queries
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Be patient ..Do not panic..Let SBI know of ur VISA date..don't go for haste sales and all..VI can be postponed ..

My Infobank | My VI

I evaluate CS/MIS profiles for Mumbai University aspirants. Tag me for profile evaluations, financial / VISA / University of Florida queries.

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11-05-2012 04:49 AM
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shahsiddharth56 Offline
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Post: #23
RE: SBI Education Loan and VISA finances queries
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hello group ,

I have the query pertaining to SBI educational loan , How do SBI provide living expenses ? Do they provide international debit card or forex card or travellers cheque , what is the scheme ? How to get the living expenses from the sanctioned loan amount . Kindly give your valuable feedback.


thanks
08-19-2013 03:14 PM
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The_Statesman Away
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Post: #24
RE: SBI Education Loan and VISA finances queries
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shahsiddharth56

They give you a Forex card in which your specified living expenses are credited in case you choose to live off campus. You need to give an undertaking that you wish to live off campus and that your living expenses won't cross xx amount a month.

(This post was last modified: 08-23-2013 02:09 AM by The_Statesman.)
08-23-2013 02:08 AM
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shahsiddharth56 Offline
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Post: #25
RE: SBI Education Loan and VISA finances queries
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Thanks for the information .
09-05-2013 02:38 PM
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dumbu123 Offline
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Post: #26
RE: SBI Education Loan and VISA finances queries
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Hi All,

I got the admit in purdue university of calumet, and i i will get the i20 in couple of days or more. So, my estimation is 25 lakhs

So here is the list:
1)15 lakhs loan from SBI.
2)5 Lakhs FD.
3)5 Lakhs savings.

Is it safe?

And may i know how much time the SBI loan take?
10-19-2013 11:15 PM
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yath Offline
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Post: #27
RE: SBI Education Loan and VISA finances queries
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Hello all,

I have started my loan process in SBI. I would like to know how exactly the living expenses are covered under the loan. I have the following doubts,
a. We wont be able to show bills for complete living expenses(like food etc,).. Does the bank provide money without any bills? IF so, whats the procedure.?
b. My frnd suggested we can take personal loan of say 5lac to cover the living costs even though it has higher interest rate. Is this required or will education loan be enuff to cover living costs??
c. Is there 15% margin for living expenses too???
05-08-2014 10:47 AM
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ganeshamoorthy Offline
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Post: #28
RE: SBI Education Loan and VISA finances queries
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@yath.
Say if you want 10 lac loan from bank. You need to show 1.5 lac as margin.
So they don't have any separate amount for living or tuition.
Loan amount will include both tuition, living, flight charges etc.

Ganesh
05-09-2014 09:20 AM
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iamjagdeesh Offline
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Post: #29
RE: SBI Education Loan and VISA finances queries
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Hi,

I have got education loan sanctioned from SBI for my Masters from Arizona State University(ASU). SBI wont give us the money directly. Apparently they pay to the college directly through demand draft(as far as I know). So how to link my university and SBI so that my university expenses are covered by my loan? Also how to cover my living expenses as I'm living off campus?

Please help!!
07-05-2017 11:51 AM
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VMEHTA Offline
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Post: #30
RE: SBI Education Loan and VISA finances queries
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iamjagdeesh

You can go on to the ASU tuition payment page and look at the payment details and paths. You can give SBI the wire payment details. SBI should accept that. Also talk to people in ASU and ask them how they do it.

As for the living expenses, you need to talk to SBI and ask them how would they pay you for that.

I, personally got money from SBI into my SBI savings account and rest was up to me to deal with, but it is a very rare case that they directly put money in your account.

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07-06-2017 11:36 PM
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