Hey guys, had a detailed talk with Himal Rana today morning.
Here are the inputs:
1. Regarding the phrase "likely to be employed" in Affidavit Cum Declaration form, he said these documents are made by legal guys & hence might have some ambiquous words. However, there is no need to worry when we have been sent the detailed T&C; from ICICI mentioning the guaranteed job & salary.
2. How will be the amount of INR 10,000 be adjusted? He said, NIIT will refund that amount back to us after joining. Do not know how much is this thing correct...
3. Why is the EMI amount INR 9000 when we were confirmed INR 8000 previously?
To this he said a very different thing... When we would be pursuing MBA for first 2 years, we would not be charged with any EMI. However, the interest rate would keep on accumulating of that amount at the rate of 2.5% compound interest for those first 2 years, which means, it would INR 11,250 first year & INR 11,531 for next year...means total would be INR 22,781.... This would be over and above the interest rate of 5 years (Post-MBA) in which we would be paying actual EMI.... In short, interest would be paid for 7 years in actual..... Thus the total EMI amount will be INR 8380 when divided in 60 equal payments (5 yr repayment period)......However, that wont be the case & we would be required to pay around INR 9000 for first few months till the EMI for rest of the months reaches INR 8000..... Hence, the amount mentioned in that form is INR 9000..... I was not aware about this thing......
4. Regarding the blanks in the form which we are unable to understand, he said, in case they are not answerable, leave them blank, or if they refer to some clause in some document which is not sent to us, then write NA over there.....
can anybody explain the below mentioned points
1. Who can be the co - applicant
2. In Cluase (X) of Preliminary credit application form whether we have to provide the photograph and signature of References (clause IX) or the applicant
Hi Puys,
I have 2 months of notice period & my firm is not willing to release me early. In case any one else is facing same problem, pls contact.
Hope to see u there !
Rgds,
Vishal
Hello future bankers,
I am sachin menon, one of ur would be college mates at NIIT. I just had a talk with Himal Rana regarding the documents ICICI has sent across to us for our loan processing and these are the major clarifications that was given by Himal:-
1) The EMI per month would not be Rs. 9000. It would be more than 8000 as mentioned by Rahul in his post, but less than 9k. After going through the calculations once again Himal would be sending us the revised documents by tomorrow.
2) On the afidavit cum declaration form there is a line which says "as per terms and conditions I am likely to be employed with ICICI Bank on successful completion of the said MBA program". We can drop the word "likely" before getting the document franked and notarised.
3) There are clauses which are left blank in the GUARANTEE FOR PERSONAL LOAN form. We are to write not applicable in those blank spaces before getting it franked and notarised.
If u people have had any discussion on the matter or have any clarifications from ICICI official kindly post them here as well.
Any one from the city of Joy?
Hi Vishal
I too was facing the same problem ..My company too had 2 months notice period,
You can try talking to ur boss try convincing him....Maybe do some comp off on sat sunday if possoble..Coz I am doing the same....
I talked to ICICI also when the results were out...they said most companies accept a shorter notice period if you are going for higher studies...
Amit
Hi Vishal
I too was facing the same problem ..My company too had 2 months notice period,
You can try talking to ur boss try convincing him....Maybe do some comp off on sat sunday if possoble..Coz I am doing the same....
I talked to ICICI also when the results were out...they said most companies accept a shorter notice period if you are going for higher studies...
Amit
@Amit n Vishal - what I think is that ICICI just needs a proof of discontinuation of our services with our present employer as it is mentioned in the 3rd point of our offer letter by ICICI, it is clearly mentioned that they require either relieving letter or any other evidence establishing such discontinuance of our employment so frnds if in worst case scenario, your employer is not relieving you just have the copy of your "accepted resignation" (mind it 'accepted') from your present company, it's a sufficient proof that states that you are not continuing your job with them.. I have talked earlier regarding the same, when we received the call from ICICI regarding the queries and they agreed upon this We need a proof which authenticate that we have left our previous organization.. Have a word with HR person of ICICI for the same and they will agree upon this cheer up will c u there... :-)
Hi Puys,
I have 2 months of notice period & my firm is not willing to release me early. In case any one else is facing same problem, pls contact.
Hope to see u there !
Rgds,
Vishal
bro.. i too am with the same problem.. not even two.. mine is three months notice period.. am working with my manager to release me on April 26th... i got to look for a replacement and make sure that my responsibilities are transferred to the newly appointed resource. then only it is possible to 'Think' to release me 😞 this is what my manager said.. all that i can do now is to search for a candidate and pray the god to bless my manager with cool mind to think about me..
Cheers..
Harish Vijayendra
Hello future bankers,
I am sachin menon, one of ur would be college mates at NIIT. I just had a talk with Himal Rana regarding the documents ICICI has sent across to us for our loan processing and these are the major clarifications that was given by Himal:-
1) The EMI per month would not be Rs. 9000. It would be more than 8000 as mentioned by Rahul in his post, but less than 9k. After going through the calculations once again Himal would be sending us the revised documents by tomorrow.
2) On the afidavit cum declaration form there is a line which says "as per terms and conditions I am likely to be employed with ICICI Bank on successful completion of the said MBA program". We can drop the word "likely" before getting the document franked and notarised.
3) There are clauses which are left blank in the GUARANTEE FOR PERSONAL LOAN form. We are to write not applicable in those blank spaces before getting it franked and notarised.
If u people have had any discussion on the matter or have any clarifications from ICICI official kindly post them here as well.
@ Sachin, Have u or somebody received the fresh set of docs from Himal Rana??
Hi Delhi Puys!!
Lets target a date of filling and completing all the formalities of the forms & guarantee etc. and before sending all the docs to ICICI Mumbai, sit somewhere together so that we can cross-check each others forms.
Just an Idea, I discussed dis with Youth Nexus & he is quite OK with it.
All other inputs & suggestions 
::
Talked to NIIT univ. regarding the Three passport size photographs and blood group which is to be sent to NIIT..
We have to send it to the same address of NIIT University, Delhi addressing Rajat Pathak and the second thing as informed by them is to get a certificate of blood group from any laboratory. I told them that I already know my blood group, but they insisted to get a certificate for the same....
Hi Delhi Puys!!
Lets target a date of filling and completing all the formalities of the forms & guarantee etc. and before sending all the docs to ICICI Mumbai, sit somewhere together so that we can cross-check each others forms.
Just an Idea, I discussed dis with Youth Nexus & he is quite OK with it.
All other inputs & suggestions:
Yes, I think we can do this ...
It will help us minimize mistakes, if et all any, corrections can be done on the spot, before we finally disptach the entire lot ........
I think we should target wednesday evening or thursday morning ....
@ Shailendra and Assam, lets plan it for Wednesday late evening like 7 PM, if not possible then we can plan for thursday morning......
Hello future bankers,
I am sachin menon, one of ur would be college mates at NIIT. I just had a talk with Himal Rana regarding the documents ICICI has sent across to us for our loan processing and these are the major clarifications that was given by Himal:-
1) The EMI per month would not be Rs. 9000. It would be more than 8000 as mentioned by Rahul in his post, but less than 9k. After going through the calculations once again Himal would be sending us the revised documents by tomorrow.
2) On the afidavit cum declaration form there is a line which says "as per terms and conditions I am likely to be employed with ICICI Bank on successful completion of the said MBA program". We can drop the word "likely" before getting the document franked and notarised.
3) There are clauses which are left blank in the GUARANTEE FOR PERSONAL LOAN form. We are to write not applicable in those blank spaces before getting it franked and notarised.
If u people have had any discussion on the matter or have any clarifications from ICICI official kindly post them here as well.
Mr. Himal Rana told me that he is not going to send a revised form (he also wanted to convey this to Sachin). He said the emi is going to be more than 8000 for the initial few months so they have mentioned it as 9000.(similar to Rahul's post).2 months before joining ICICI or start of emi we will receive a document with the exact emi amount that will be debited..So he asked us to fill up the already sent form only.
Hi Guys,
Has any one completed the loan and other documentations..., and submitted ?
and how many are reaching delhi on 29th morning....., and then leaving for the campus ???
Hi Manu
I am Done with the Forms and Send the Courier.....Most of us are reaching delhi on 28 and moving to neemrana....
For those of us planning to buy laptops, can we get together to get a better deal?
@manu
if u r planning to start from delhi on 29th morning then i may join with u..
I will be reaching delhi on 28 th evening...
Hi everyone
This is Pamela Parthasarathy from Delhi.
A bit late to latch on to your thread, which was quite useful & informative.
I've updated my contact details on the spreadsheet link provided.
See you guys @Neemrana on the 28th.
...........