Education Loan

Well I tried out both the ICICI and the SBI option today. Delhi University branch of SBI opens at around 10AM. So, I went to the ICICI bank instead. They directed me to the Kamla Nagar branch. Well the branch was just 50m from the place, where my vehicle was booked for "Parkign in No Parking Area". This time I was more cautious and parked the car in proper place.

ICICI - The smiling lady told me that they dont provide study loan and they are only interested in personal loans and that too they can fetch me only 3-4 lacs only. I had tongue in my cheeks. They are totally haywire and are playing the ball with all the controls in hand....ie I should have proof of income, which can give help me repaying the same in 12 months.
Good Business Strategy - not loosening up their purse strings in a tight Credit Crunch and interest rate of 18% with sound proof customers insure a sound bet.

SBI
Reached back at 10 minutes to 10 AM. I was having some thoughts that even SBI have got professional. See the Facia of insurance advertisement and the new token machine. The gaurd was cooperative to tell me to contact the person with out token. Later on I was told the Mrs. Rekha is absent.

There was some add placed in the bank main hall ........some loan advertisement .......Contact Mrs Rekha...

Albiet, I got the picture from a nice gentlemen sitting out there .........

1. loan for only 70% of the Collateral
2. Interest 12-13.5 %.

God! the interest thing really struck me up - see the difference between 12 and 18 - A good 50% percent difference. That ICICI fellow must be really earning good bucks.

well that Official in the bank asked me that - "Isnt your MBA costly enough" - Well I told him "Perhaps you are not aware abt the Wharton, Kellogs & Havards - they are 2-3 times costlier than this....and I am going to CEIBS - a college equally placed in that league and may be ahead of these in a couple of years."

I gave a very confident answer to that officer... but atleast it made me to think that is it really worth ..........

I mean " 22.5 lacs for 18 months "

What I am going to gain in 18 months that will pitch me ahead with ....

18months+30lacs <<<< Gains out of 18 months for the full life.....

Fees I will pay back in 2 years.......