The only bad thing about a course not being approved by AICTE is the difficulty a candidate faces while getting a loan from the bank. Otherwise there is nothing bad about it. The best college in India, ISB Hyderabad, has not got its courses affiliated by AICTE. We still look up to joining that college, don't we? Regarding TAPMI, I believe that in the end we are getting our certificates from TAPMI and will be called TAPMians. However, getting a loan still remains an issue. Hope the courses start under AICTE and if they do not, let's hope that we do not face any difficulty in arranging for our loans.
ATB
Is it really difficult??? I guess this has been already been posted(still ppl speculate on this) by someone on this thread that for getting a loan you need the college offer letter..u do not need to show any AICTE letter or things like that ...
As far as college is concerned TAPMI features in good books of all banks so shud not create any headaches for loans irrespective of the course u go....Also consider this the Maipal university students also go for loan then how come they get it??
To add to this fact every body knows that almost all banks provide loans to ppl pursuing mba from ICFAI( with the largest student base but no AICTE approval for courses)
So a kind request rather than speculating on this and creating doubts in the minds of ppl just give a try u'll get what u want!!!
Is it really difficult??? I guess this has been already been posted(still ppl speculate on this) by someone on this thread that for getting a loan you need the college offer letter..u do not need to show any AICTE letter or things like that ...
As far as college is concerned TAPMI features in good books of all banks so shud not create any headaches for loans irrespective of the course u go....Also consider this the Maipal university students also go for loan then how come they get it??
To add to this fact every body knows that almost all banks provide loans to ppl pursuing mba from ICFAI( with the largest student base but no AICTE approval for courses)
So a kind request rather than speculating on this and creating doubts in the minds of ppl just give a try u'll get what u want!!!
Hope this info helps and clears few doubts :)
Dude
May be i am wrong But i think u didn't get the point. Problem is not getting the loan from bank. Problem is getting the loan without any Guarantor or co-lateral or what ever u say from bank. Seem like u already arrange for ur loan, so please help us to find the bank who r willing to give loan without co-lateral for non-AICTE approval course.It will be great help
Is this strong correlation between financing options and AICTE Approval based on any bank's query about documentation, approval proof, etc. or is this speculation?
If it is the second, I would suggest that the concerned people should take a stroll to a nearby bank, meet the manager and get these doubts cleared. AFAIK, these fears have little or no basis in the bank's stipulations.
Hi guys What about the AICTE approval for the extra 60 seats(PGDM)? I heard it was approved but the confirmation letter has to be sent by AICTE!
see there is no news from TAPMI as yet..as you said sudeep sir told that they are awaiting for the official black and white document from aicte ....and got a go ahead unofficially ...so its almost a done deal...
And he also said that results fro the sectoral programs like IB , BFS , HC would come by tomorrow...still have to wait for the 60 calls for general pgdm I guess..
I inquired about taking loan from SBI..... I was surprised to see that TAPMI does not feature in its A list, while institutes such as LIBA and IIFM do!
They also told me that it wouldn't be possible for them to give a loan without an AICTE approval.
I inquired about taking loan from SBI..... I was surprised to see that TAPMI does not feature in its A list, while institutes such as LIBA and IIFM do!
They also told me that it wouldn't be possible for them to give a loan without an AICTE approval.
bang on friend ...the psu banks are so fastidious....the want all the docs and AICTE approval is a must..i checked this with union bank is well...and he had 30 min chat with...full of *****..these guys dont have a clue..
they go at their own pace....and many conditions:banghead::banghead:..
may be you can try HDFC which has some 30 odd institutes in its preferred list and TAPMI is one of them..
or else you can try CREDILA is well...which is wholly owned subsidiary of hdfc....
May be i am wrong But i think u didn't get the point. Problem is not getting the loan from bank. Problem is getting the loan without any Guarantor or co-lateral or what ever u say from bank. Seem like u already arrange for ur loan, so please help us to find the bank who r willing to give loan without co-lateral for non-AICTE approval course.It will be great help
Thanks in advance.
Hi,
I went to all the banks which are nearby by home i'll post whatever i got from them...hope that helps
Axis Bank : Do not give any education loans
Bank Of Allahabad : They have one centralised branch which deals with loan stuff ( in each city,in my case kolkata) , so i presume that they have a similar kind of structure elsewhere also so chk out that central branch( i was not able to go since a bit far from my home) .
Dena Bank : Rate 10.25 % , did not ask me anything abt AICTE or anything (in fact he was not even intersted in knowing my college also). Here for loans u need collateral ( land ,building,policy etc). If u have a account here then good otherwise open one (most banks ask for this). Loan will be processed from the head brach of that city and u need to intimate them abt the time to time disburements to the college.
Bank Of Baroda : Rate 10 % ,did not ask me anything abt AICTE or anything.Here for loans u need collateral ( land ,building,policy etc). If u have a account here then good otherwise no need ( will ask for some more documents).u need to intimate them abt the time to time disburements to the college. Repayment period is 5 yrs after ur degree completion (use EMI calculator to chk ur monthy EMI based on the loan amount ) Please note here u have to pay(i mean ur dad/mom/brother/sister anyone) monthly ineterest during moratorium period (the period of ur study).
Canara Bank : Rate 9.25% for TAPMI ( Gives preference for Elite college status but this guy asked me abt AICTE thing/whether the course is govt approved.Again Here for loans u need collateral ( land ,building,policy etc). If u have a account here then good otherwise open one.During moratorium period simple interest wud be calculated that wud be accrued and added to ur loan amt and then after 2 yrs ur EMI will be caculated based on this final amt ( SI + Loan amt).Max loan amt 7.5 lac after that 100% collateral + One more gaurantor etc. Also if u have paid some fees then that will be not reimbursed.
Few Points to note abt loan process:
1) Any case any bank u need one gaurantor irrespective of course ( PGDM or non PGDM). Also since ur loan amt exceeds 4 lacs hence they will always ask that. 2) Most banks prefer their account holders since then easy to process the loan otherwise too many documents needs to be submitted ( so better first reach ur branch where u have a account) 3) My suggestion go for an Indian / Govt Bank rather than HDFC or ICICI etc since they are charging too much( i heard somebody say 11:75% or so)
Hope this post helps..will be going to some banks tomorrow...definitely will keep everyone updated!!
I went to all the banks which are nearby by home i'll post whatever i got from them...hope that helps
Axis Bank : Do not give any education loans
Bank Of Allahabad : They have one centralised branch which deals with loan stuff ( in each city,in my case kolkata) , so i presume that they have a similar kind of structure elsewhere also so chk out that central branch( i was not able to go since a bit far from my home) .
Dena Bank : Rate 10.25 % , did not ask me anything abt AICTE or anything (in fact he was not even intersted in knowing my college also). Here for loans u need collateral ( land ,building,policy etc). If u have a account here then good otherwise open one (most banks ask for this). Loan will be processed from the head brach of that city and u need to intimate them abt the time to time disburements to the college.
Bank Of Baroda : Rate 10 % ,did not ask me anything abt AICTE or anything.Here for loans u need collateral ( land ,building,policy etc). If u have a account here then good otherwise no need ( will ask for some more documents).u need to intimate them abt the time to time disburements to the college. Repayment period is 5 yrs after ur degree completion (use EMI calculator to chk ur monthy EMI based on the loan amount ) Please note here u have to pay(i mean ur dad/mom/brother/sister anyone) monthly ineterest during moratorium period (the period of ur study).
Canara Bank : Rate 9.25% for TAPMI ( Gives preference for Elite college status but this guy asked me abt AICTE thing/whether the course is govt approved.Again Here for loans u need collateral ( land ,building,policy etc). If u have a account here then good otherwise open one.During moratorium period simple interest wud be calculated that wud be accrued and added to ur loan amt and then after 2 yrs ur EMI will be caculated based on this final amt ( SI + Loan amt).Max loan amt 7.5 lac after that 100% collateral + One more gaurantor etc. Also if u have paid some fees then that will be not reimbursed.
Few Points to note abt loan process:
1) Any case any bank u need one gaurantor irrespective of course ( PGDM or non PGDM). Also since ur loan amt exceeds 4 lacs hence they will always ask that. 2) Most banks prefer their account holders since then easy to process the loan otherwise too many documents needs to be submitted ( so better first reach ur branch where u have a account) 3) My suggestion go for an Indian / Govt Bank rather than HDFC or ICICI etc since they are charging too much( i heard somebody say 11:75% or so)
Hope this post helps..will be going to some banks tomorrow...definitely will keep everyone updated!!
friend credila charges 10.5 and if collateral is worth more than the loan amount it might be 9.75...
and the problem with me is I only have account in union bank...and the interest rate is 12..
dont have accounts in canara..or..bank of baroda...
friend credila charges 10.5 and if collateral is worth more than the loan amount it might be 9.75...
and the problem with me is I only have account in union bank...and the interest rate is 12..
dont have accounts in canara..or..bank of baroda...
so i have very few options..
Hi Dheeru,
Hey man don't get disheartened...if one door closes then there are other doors opening for u...
Now as far as the account is concerned most banks ask for that since as per RBI rules KYC( Know Your Customer) they ask that.
Also creating an account in a bank is not that a tedious task (i know can be cumbersome at times but for a loan we need to do it).To add to that in case if u have some solid documents then the some bank(chk BOB) might consider ur case without a account also.
Tomorrow may be i'll try to get more info...Hope this helps!!
which no. are they attending to right now.....no one is picking up.
you got to keep trying...
sudeep sirs number is 0820 2701008...
lets also understand that he has been flooded with calls from all of us..and it is very tough to handle that many amount of calls....so have patience...
i would suggest you to call at different times..in the morning ..afternoon..and evening ..and hope you get through to him..
lets also understand that he has been flooded with calls from all of us..and it is very tough to handle that many amount of calls....so have patience...
i would suggest you to call at different times..in the morning ..afternoon..and evening ..and hope you get through to him..
Hi All,
Guys I am really confused about the fee structure. Not able to calculate how much will be the total (academic+hostel+fooding)expenditure (2yrs)for studying PGDM at Tapmi. Plzz help 😃
Guys I am really confused about the fee structure. Not able to calculate how much will be the total (academic+hostel+fooding)expenditure (2yrs)for studying PGDM at Tapmi. Plzz help :)
request you to go through the previous posts....I think only tution fee is 8.25 lakhs...hostel for 2 years will be 1.46 lks ..mess 30 k per year..so total 10.3 lakhs..
but i suggest you to check it out with people who got offer letters....
but in my interview with director he clearly mention that upto 7.5 lac we can get without collateral because i specifically ask about this thing to him.
But that i think about AICTE seats, not sure about non-AICTE.
T amt u hav to spend is not limited to 10.3 Lakhs as mentioned above..
U hav to buy ur own laptops...
The electricty consumption of our respective Hostel rooms is also on our heads..
besides if we want nything for our daily activities such umbrellas, buckets etc we can buy it frm a guy in t hostel itseams...but he's gonna charge a premium n he's our only option...
So t amt u spend is not limited to 10.3 Lakhs... Be prepared for hidden expenses n other charges after joining...
thanks to my company because of my savings i can pay upto 5 lakhs from my pocket but my entire balance will be gone then i will go with bank of india for another 4 rest 2 lakhs i have to find a way who will pay these interests but many of us wont have any option except to go for loans
Agreed. You've also got to take into account the expense of your blazer, commuting expenses from your home town to TAPMI, commuting expenses of your family coming to meet you @ Manipal. All in all, you've gotta take a conservative figure of 11 lakh. It can also go up to 12 lakhs over 2 years. But it would definitely be worth it, I think. An MBA from one of the Top 20 B-Schools doesn't happen very often!
Abt t fees
T amt u hav to spend is not limited to 10.3 Lakhs as mentioned above..
U hav to buy ur own laptops...
The electricty consumption of our respective Hostel rooms is also on our heads..
besides if we want nything for our daily activities such umbrellas, buckets etc we can buy it frm a guy in t hostel itseams...but he's gonna charge a premium n he's our only option...
So t amt u spend is not limited to 10.3 Lakhs... Be prepared for hidden expenses n other charges after joining...
