Got this from another thread ....regarding loans....hope it helps...
I don't know whether I am the right person to answer your query, but I have taken a loan from the State Bank of Travancore. And while taking the loan, there were a lot of options that we looked into including Allahabad bank and the state bank of india. Everybody who has taken a loan from our batch has taken it from the same bank. It basically was a bulk deal. There are some 150 of us who have done so. The benefit of taking loans in a combined manner is that paperwork is minimized and they offer a lesser interest rate. We got it at just 8.5%(but then we are in an IIM). Even you guys can bargain for a lesser rate if you take it jointly. The trick is to pit one bank against the other. What we had done is... we had paid the first installment out of our own pockets, and the bank refunded it to us later on. Some people of course had not requested for the refund. Other people who had taken loans from elsewhere still took the loan and prepaid the first installment to the first bank. If you want to take a loan from pune,,, you can pay the first installment out of your own pockets and get the loan from pune after taking admission. Or you can go to the nearest branch and request for the loan. Believe me its not such a big deal. The paperwork is mostly hassle free. You will have to furnish a guarantee from your parents, a copy of your offer letter, marksheets, address proof etc. It really doesn't take much time. You will also have to insure the loan, which can be done with the bank itself. We were able to bargain regarding the guarantee and we got it waived off. The whole process is really very easy. if you want to find out more just go the the nearest state bank and talk straight to the manager. I am sure he would be more than happy to entertain you I hope this helps. regards, Bhabesh batch of 2007 IIMK
What say ppl...we shud also get together and get a group discount from some bank close to SIIB. Waiting for some replies....
HI guys we created a yahoo group for all the peple who r selected and are joining siib ...so all those who r joining siib ls subscribe this group [email protected] [email protected]
pls send ur snap id on this mail address so that we can verfy u.... hope to see u in group....
Got this from another thread ....regarding loans....hope it helps...
I don't know whether I am the right person to answer your query, but I have taken a loan from the State Bank of Travancore. And while taking the loan, there were a lot of options that we looked into including Allahabad bank and the state bank of india. Everybody who has taken a loan from our batch has taken it from the same bank. It basically was a bulk deal. There are some 150 of us who have done so. The benefit of taking loans in a combined manner is that paperwork is minimized and they offer a lesser interest rate. We got it at just 8.5%(but then we are in an IIM). Even you guys can bargain for a lesser rate if you take it jointly. The trick is to pit one bank against the other. What we had done is... we had paid the first installment out of our own pockets, and the bank refunded it to us later on. Some people of course had not requested for the refund. Other people who had taken loans from elsewhere still took the loan and prepaid the first installment to the first bank. If you want to take a loan from pune,,, you can pay the first installment out of your own pockets and get the loan from pune after taking admission. Or you can go to the nearest branch and request for the loan. Believe me its not such a big deal. The paperwork is mostly hassle free. You will have to furnish a guarantee from your parents, a copy of your offer letter, marksheets, address proof etc. It really doesn't take much time. You will also have to insure the loan, which can be done with the bank itself. We were able to bargain regarding the guarantee and we got it waived off. The whole process is really very easy. if you want to find out more just go the the nearest state bank and talk straight to the manager. I am sure he would be more than happy to entertain you I hope this helps. regards, Bhabesh batch of 2007 IIMK What say ppl...we shud also get together and get a group discount from some bank close to SIIB. Waiting for some replies....
Hi man i suppose its too late 4 us to go to pune n apply for a loan now (last date is 18th)..i hav got the loan from SATE BANK OF TRAVANCORE too....bcos the process was quite fast!!!
hi neelabh juss wanted 2 ask u that when r dey gonna send email confirmation ... i called up office 2day the lady told tat my dd has been recieved but i didnt get email confirming same ... plz check 4m office if u can . name: hardeep snap id: 529657 merit rank:94 bye
hi neelabh juss wanted 2 ask u that when r dey gonna send email confirmation ... i called up office 2day the lady told tat my dd has been recieved but i didnt get email confirming same ... plz check 4m office if u can . name: hardeep snap id: 529657 merit rank:94 bye
This is for everyone who have sent in their fees by courier/post. ur acknowledgement letter will be dispatched after 18th , which is the last date of submission of fees.so stop worrying.tc
My Dear SIIBlings, here's wishing all of u a very joyous and COLOURFULHOLI. lets pledge to drench each other in colours next holi :bomb: . Live Life in TECHNICOLOUR !! Enjoy Neelabh SIIB
HAPPYHOLI TO ALLTHE SENIORS OUT THERE @ SIIB NMY FUTURECLASSMATES!!!! :smilecol:
Hi man i suppose its too late 4 us to go to pune n apply for a loan now (last date is 18th)..i hav got the loan from SATE BANK OF TRAVANCORE too....bcos the process was quite fast!!!
As far as i know one gets a loan only after producing a confirmed letter of admission. and the letter of admission u get only after paying the first installment. Thats what SBI said anyways.... Maybe u cud tell us all what the entire procedure is (giving full details )....thanx....