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SBI Margin Money
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akshay_ramsey Offline
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akshay_ramsey Offline
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Post: #1
SBI Margin Money
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Hi ,

I got a sanctioned loan for Rs. 25,00,000/- from SBI. It is mentioned that my margin is 21.86%.

I had a doubt regarding the same .

My semester fee is Rs. 8,81,000 . So I will be paying 21.86% of the semester fee right ? and SBI will be paying approx. Rs. 6 ,88,000 every sem (i.e. the 78.14 % of the fee).

So will they be paying the 78.14% of my tuition fee for every semester ? ( Considering I'm only studying for 3 semesters )

Please any help about the margin money explanation would be really helpful .

Regards,

Akshay
07-19-2017 10:07 PM
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sajinsabu Offline
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Post: #2
RE: SBI Margin Money
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akshay_ramsey

I had the exact amount sanctioned by Canara bank.
Since the course duration is mentioned as 2 years in the i20, they divided the amount in to 4 (6.25 lakh), and disbursed only that amount.

About the margin, when you disburse the loan, you have to show the proof of the various fees paid. The bank can give you a maximum of 78.14% of that amount.

You should better talk to your manager about this, because they will know the exact maximum amount they can disburse.

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(This post was last modified: 07-19-2017 10:30 PM by sajinsabu.)
07-19-2017 10:29 PM
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The_Chharraa Offline
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Post: #3
RE: SBI Margin Money
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Hi,
Please put details about your work exp and college projects in info bank.

Will not answer any PM, instead tag.
Until you understand this thread, keep reading it. Unless, and until you understand it, please try avoiding to apply to US.
07-21-2017 07:47 PM
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gyandhan_aman Offline
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RE: SBI Margin Money
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Hello,

I would suggest you go through this blog which explains how the margin money works exactly.
[url=https://www.gyandhan.com/blogs/margin-money-in-education-loan]

The formula banks use to calculate margin money is
margin money in percentage = (1-loan amount sanctioned / overall expenses )*100

In your case for every disbursement, you would get 78.14 % of the amount you need as you are responsible for 21.86% of your over all expenses. You can use each penny of the sanctioned amount but every time the amount you will get would be 78.14 %.

Aman Jain
Head Marketing & Operations
GyanDhan : Financing Higher Education
(This post was last modified: 08-09-2017 04:32 PM by gyandhan_aman.)
08-07-2017 02:57 PM
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