You've summarised 97 pages in your first post, buddy!
Well done!
Hello all!
This is the situation as I understand it (please correct me if I'm wrong) :
1. Calls given for 120 AICTE approved PGDM seats so far.
2. Round I of calls sent out with Rs. 1,00,000/- to be paid by May 10th and a subsequent Rs. 2,10,000/- by May 20th.
3. Round II of calls sent out with Rs. 1,00,000/- to be paid by May 20th and a subsequent Rs. 2,10,000/- by May 27th.
4. No calls issued for additional 60 PGDM, 60 PGDM-BFS, 60 PGDM-IB & 60 PGDM-HCM so far, pending AICTE approval. These potential candidates have been put on waitlist.
5. No offical data on number of calls issued, number of admissions confirmed or number of waitlisted candidates.
Going by the posts so far, there was a movement in the waitlist after those round I candidates who have rejected the offer by not paying the initial Rs. 1,00,000/-. Also, there might be some waitlist movement due to the similar situation arising out of Round II calls as detailed above.
So if I understand correctly, there will be more waitlist movement given that those who have paid the initial installment of Rs. 1,00,000/- but have not paid the subsequent installment of Rs. 2,10,000/- by the respective due dates for both Round I & II candidates.
Those who have been following up with this matter (either directly with the Institute/other users/seniors), please correct me if I'm wrong.
I searched the previous pages and did not get the question/answer i was looking for..
Will any bank officials be present on the campus on the day of our joining, for the purpose of loans? The offer letter did not contain much information about loans, except for some names of banks with whom TAPMI has a tie-up.. I'm asking this because i have heard that when u try for a loan from the campus itself, the paperwork is less..and one may probably get lesser interest rates too..
Another thing, I'm unable to join the facebook group of TAPMI batch 2010-2012.. Can someone tell me where i'm going wrong.. And pls do reply to the previous post..
I searched the previous pages and did not get the question/answer i was looking for..
Will any bank officials be present on the campus on the day of our joining, for the purpose of loans? The offer letter did not contain much information about loans, except for some names of banks with whom TAPMI has a tie-up.. I'm asking this because i have heard that when u try for a loan from the campus itself, the paperwork is less..and one may probably get lesser interest rates too..
There is a Syndicate Bank branch on the campus itself and they shall be more than happy to help you with a loan. You can also get in touch with any syndicate bank branch in ur city regarding the loan. Infact most banks are more than willing to give education loans for MBA at TAPMI. The interest rate shall vary from bank to bank and I doubt if location will make a difference to it. Im not too sure about the paperwork part though.
As for facebook, you entry into the group needs to be approved by a mod and is probably pending. Maybe thats why u arnt part of the list yet. In the meanwhile you can join the community on Orkut as well.
I searched the previous pages and did not get the question/answer i was looking for..
Will any bank officials be present on the campus on the day of our joining, for the purpose of loans? The offer letter did not contain much information about loans, except for some names of banks with whom TAPMI has a tie-up.. I'm asking this because i have heard that when u try for a loan from the campus itself, the paperwork is less..and one may probably get lesser interest rates too..
Information regarding Loans: (1) As far as I know you can get loan only from the place you live. i.e the place your father works. Because he will be your guarantor for the loan. Even syndicate bank at our college, has said same thing, that loan will be given by the branch at your city only. (As far as I remember) (2) As Varun pointed out, getting educational loan for MBA from Tapmi is not very difficult. Almost all banks will be ready to give you loan.TAPMI name is there in the most banks preferred list of institutes for which they approve the loan easily. (3) The main criteria for choosing the bank for taking loan should not be the paper work but the interest rate and the amount of loan the bank is willing to give you. e.g. SBI gives educational loan at minimum rate (more less for girls) but they are not very much willing to give loan of more than 7.5 lakh (approx). Also SBI refused to reimburse the amount which I have already paid. E.g I paid the first installment of around 3.xx lakh on my own. Then applied for loan . They told that since you have already paid that first installment , so we will not cover that in the loan. This was what my experience last year with SBI. (4) There are other banks that are willing to give you as much as you want and also ready to reimburse the already paid amount. But there interest rates are 2-3 percentage point higher than SBI. That is why despite all the redtapism people still prefer SBI. (5) If you are taking loan from any private bank, be very clear with all terms and conditions. There should not be any hidden charges, so ask all questions about loan amount, interest rate, EMIs etc. (6) Do your research, before applying for loan. Try to find which bank is giving educational loan with minimum interest. As far as I remember, there is a lesser known government bank which gives loan at lesser interest rate than SBI. Try your luck there. Calculate your EMIs and total amount you have to pay due to different interest rate http://www.deal4loans.com/Contents_Calculators.php .
(7) One more point. The student has to be physically present there while applying for the loan. You will have to go back there and sign the documents in front of bank officer. Also you may have to go one more time (not necessary but may be asked by the bank) to get the first installment. This is important for the people who are working at place which is different from their native city. So work ex. people who want to apply for the loan, they have to resign from job, serve the notice period during which they can not take leave ( as far as i know) and then they have to go back to their native place to apply for loan.
Requesting others to contribute to this post, by sharing their input about educational loan.
Information regarding Loans: (1) As far as I know you can get loan only from the place you live. i.e the place your father works. Because he will be your guarantor for the loan. Even syndicate bank at our college, has said same thing, that loan will be given by the branch at your city only. (As far as I remember) (2) As Varun pointed out, getting educational loan for MBA from Tapmi is not very difficult. Almost all banks will be ready to give you loan.TAPMI name is there in the most banks preferred list of institutes for which they approve the loan easily. (3) The main criteria for choosing the bank for taking loan should not be the paper work but the interest rate and the amount of loan the bank is willing to give you. e.g. SBI gives educational loan at minimum rate (more less for girls) but they are not very much willing to give loan of more than 7.5 lakh (approx). Also SBI refused to reimburse the amount which I have already paid. E.g I paid the first installment of around 3.xx lakh on my own. Then applied for loan . They told that since you have already paid that first installment , so we will not cover that in the loan. This was what my experience last year with SBI. (4) There are other banks that are willing to give you as much as you want and also ready to reimburse the already paid amount. But there interest rates are 2-3 percentage point higher than SBI. That is why despite all the redtapism people still prefer SBI. (5) If you are taking loan from any private bank, be very clear with all terms and conditions. There should not be any hidden charges, so ask all questions about loan amount, interest rate, EMIs etc. (6) Do your research, before applying for loan. Try to find which bank is giving educational loan with minimum interest. As far as I remember, there is a lesser known government bank which gives loan at lesser interest rate than SBI. Try your luck there. Calculate your EMIs and total amount you have to pay due to different interest rate Loan EMI interest rate calculator | Calculate Loan EMI . Requesting others to contribute to this post, by sharing their input about educational loan.
Right now the BPLR is @ 12% so thebest offers are as follows:
Loan Amount: Upto 4 Lac:
BOB: 10%, Central Bank of India: 10%, Syndicate Bank: 10%
I got converted on 11th May.. and still havent received any notification regarding the admission process.. i am waiting for the offer letter so that i can go ahead with the loan.. the prob is, I need to know the END DATE - DEAD LINES for payment of first/second installment...
Please reply if any one knows wats the dead line for paying up the first & 2nd installment.. i.e 1 lac & 2.1 lac resp...
I got converted on 11th May.. and still havent received any notification regarding the admission process.. i am waiting for the offer letter so that i can go ahead with the loan.. the prob is, I need to know the END DATE - DEAD LINES for payment of first/second installment...
Please reply if any one knows wats the dead line for paying up the first & 2nd installment.. i.e 1 lac & 2.1 lac resp...
Thanks in advance..
1lac ke liye 20th may....2.1 lac ke liye may 27th...
wonder y dez guys r givin so less tymm.. n add to it letters reaching da students 5 -6 days before deadline...
I got converted on 11th May.. and still havent received any notification regarding the admission process.. i am waiting for the offer letter so that i can go ahead with the loan.. the prob is, I need to know the END DATE - DEAD LINES for payment of first/second installment...
Please reply if any one knows wats the dead line for paying up the first & 2nd installment.. i.e 1 lac & 2.1 lac resp...
Thanks in advance..
Rs. 1,00,000 21st May
Rs. 2,10,000 27th May
This post could have been saved if you would have read few of the previous pages.
P.S. You will not receive any such notification untill the offer letter which has already been dispatched.
You were very quick to reply to the previous post.. can u do the same for my last query..
Also, for your information.. ive read all previous posts and didnt find this info anywhr.. if u could help me with the link for those posts, that would be great...
One thing - understand the criticality of the post.. i do not want to loose out on the admission due to negligence... No offer letter yet... no info yet..
The offer letter which they send u has a letter which needs to be signed by u and sent along with the DD..so u cant send the DD before getting the offer letter....
to be on the safer side, can i send the 1 lac DD before i receive the Offer letter..
As, i have not yet got the letter.. and it seems there is no point waiting.. as the time is so less...
Query - What needs to be sent along with the DD?
Hey buddy...y dnt u call d admissions office nd clarify d prob...at last dey r d ppl who are handling the admission process..dere word wld be final..nd abt ur DD, u cn do 1 thng, as of now, u can get d DD ready nd as soon as u receive d offer letter, sign it and send it along wid d DD...ATB... 😃
Ditto! And frankly speaking, I have no hopes of a conversion as well! With the spurt in the no of people accepting (atleast 15 have said Yes) I doubt I'll get thru this year!
atilla.the.hun Says
Thanks! I'm assuming being a good manager will require something of this kind. Unfortunately, TAPMI doesn't see that....still on waitlist!! :banghead:
Mate, with the kind of technical snags (results changing overnight) TAPMI has become notoriously infamous for, I would advise you have the hard copy of the Admission Offer in your hands before sending the DD. Just a piece of advice from a Wait Listed candidate! :|
@ rvidyanta -
You were very quick to reply to the previous post.. can u do the same for my last query..
Also, for your information.. ive read all previous posts and didnt find this info anywhr.. if u could help me with the link for those posts, that would be great...
One thing - understand the criticality of the post.. i do not want to loose out on the admission due to negligence... No offer letter yet... no info yet..
Ditto! And frankly speaking, I have no hopes of a conversion as well! With the spurt in the no of people accepting (atleast 15 have said Yes) I doubt I'll get thru this year!
I am in the same boat as you and am now thinking just like you are. Going through this thread in the last 2 days has dashed all my hopes of a convert. Most ppl are accepting calls. The only way out of this is the AICTE approval of the 60 PGDM seats so that there is heavy waitlist movement to fill those seats. Unfortunately I told my panel I wanted to do only PGDM and not the other courses so I am in a bigger soup due to that.
