Yes, its GMAT ID.

Yes, its GMAT ID.

Hi Puys,

Any idea on Spj office working hours on Thursday, Saturday and Sunday?

Tried calling Adcom several time, but just can't get through even after holding for 10-15 mins

I am dropping the idea of taking a loan as it looks too expensive.

Nitesh, how much would be the interest for a loan of 4 lakh without discount?
Is there an option of applying online ?

-AK

Just got response from Adcom:-

Q) Is it mandatory to submit graduation transcript from college.
Yes,

Q) When do we have to submit all the documents?
Documents shall be submitted during the registration , which will be conducted either when you come for the contact sessions or in January.
The details of registration will be mailed to you later in the month of December.

My sincere request to future classmates. Please post all your findings (from Adcom, Bank loan etc.) here so that we all can benefit from that.

Cheers
AK

HEY...
Did you got any replies for your above query,even i m sailing in the same boat.
I do have all the same conditions,plese do let me know if you get any solutions

No Dude,
Still awaiting answer on this loan part. I will be coming to India in Nov end only.

Another, Have asked college whether we need to submit the graduation transcript from college or just the attested copy will do?

Will post here once I get any update on these queries.

-AK

Hi Nitesh,
Many thanks for documenting and sharing the details with us. This shows your
some of your traits - ie. looking for minutes and collaborative approach. :thumbsup:

As dvictory and others I have the same concern ie. If a person is onsite does he need to come down to apply loan? Or can it be initiated online or by parent and we can send over docs and scanned filled forms with our signature. I am thinking of applying loan of 4 lakhs as it would be faster and without any margin/collateral.

Thanks
AK

Hi Guys,
My experience on educational loan options with different Banks. I havent decided whether to go for it or no as yet.
Indian Bank (SPJain Campus Br) - 30 min discussion with the
Br manager - Mr. Anand Babu, Cell - 9819991871 Landline - 022 26234829

1. The rate of Interest is 12.25 - 12.75%, the margin money is 5% i.e. out of the total you need to fund 5% and the Bank would release a loan for 95% (incl International Project), applicable if you take a loan above INR 4L
   
2. There is no Collateral or 3rd party guarantor needed for loans upto INR 4L, 3rd party guarantor is required for loan amount between INR 4Lto 7.5L, Collateral + 3rd party gurantor is needed for loans above INR 7.5L to 10L (this is the maximum they approve)
   
3. Good news is that you can get this quite soon i.e. within 7-10 days once you submit the documents
   
4. They have a special concession for the Global MBA program which is 2% off the interest rate but nothing such for the PGPM course due to lack of applicants. If more number of applicants are interested to take up the loan from Indian Bank then he is willing to put up a special case and get this approved (2% waiver :D). Hence if we can collectively approach then maybe it would be good.
   
5. The EMIs would start after the course is complete + 6 months or from the date of placement whichever is earlier, & repayment period of 5-7 years
   

Union Bank of India (Ashok Nagar - Kandivali (E), Mumbai 400101. Vishwajeet (Loan Dept) - 9820956388

1. Same slabs but better rates i.e. 11.75 upto 4L, 12.25% for INR 4 - INR 7.5 & 11.5% for 7.5l - 10L
   
2. Holiday period of 1 year 11 months & Loan disbursement would be quick once the formalities are over (maybe a week)
   
3. repayment period - max upto 5 years
   

State Bank of India - Near Shoppers Stop, SV Road Andheri (W)
Mr. Prashant Phule 022 26719611, 9920526202 (m)

1. Interest Rate 11%, similar slabs but disbursement would take longer i.e. 1 - 1.5 months. Was disappointed hearing this :shocked:. Maybe some1 can give a second try
   

Spent the whole of Saturday on this after submitting the 35K DD to SP Jain and honestly Indian Bank looked the most flexible with Union Bank coming in second, BTW UBI have a tieup for the 2 year program with interest rates of 10.5%, maybe some if more applicants approach then they can get a special waiver as well. SBI was indifferent but didnt meet the guy hence not sure.

Hope this helps & All the best

Regards,
Nitesh

Hi Rishi / Sid,

Had you guys submitted graduation transcript from your college during registration or just the attested copy from Govt Notary officer will do ?

Thanks
AK

jamebond007 Says

is it possible to get the loan without coming in front of the bank,because i m in usa right now,anb will b back only by november.

I am in the same boat :(. College should have extended the timelines till Nov end.

Hi Rishi,

When is the documents required ? during offer acceptance or along with full payment ? They have also mentioned that along with originals, attested copy of docs will also be required. So do we need to get docs attested by a Gov. officer ?

I have already asked Adcom which is taking time in reply. How was it for you guys last year? Also is registration done during full payment or in Jan when we will join the course?

Thanks in advance
AK