can someone tell me what's the margin money for SBI ? and how does the disbursement procedure works

Question

can someone tell me what's the margin money for SBI ? and how does the disbursement procedure works ?

Shashi Praharaj · Answer

@srish28 Margin varies from 15 to 25%. They are good and professional. As a borrower, we think they should immediately release as per request. But they have rules to follow. They will release after your VISA. They will release just before your departure after your showing the ticket. The fees will directly go to the university semester wise. Living expenses need your estimate. But I must tell you they are the best and highly transparent.

Shashi Praharaj · Answer

@srish28 But SBI will not pay that, as far as my knowledge goes.

Shashi Praharaj · Answer

@srish28 If you can convince SBI, they can pay the installment. Generally they do not pay. They have their rules and they abide by the rules. Whatever rules are followed by majority of the universities, they follow that. If there is some exception somewhere, you have to convince them. In India SBI and other banks are strict because the defaults are more and Banks are having mounting bad loans. Anyway as far as my knowledge goes, they are better than other loan providers.

Karan R · Answer

What about living expenses

R · Answer

15% margin. Disbursement depends upon how you convince them and how much understanding the manager is. Generally, their disbursement process is very bad,  they will only pay tuition fees directly to the university and that too after visa confirmation.

R · Answer

Might disburse after you'll receive visa. They do not follow the process mentioned on the sbi website, they always just try to save their lazy as*

R · Answer

Well, I told about mine and 5-6 other guys experience (we all are in same university group). @Praharaj first term fee is strongly recommended for Canadian universities in IRCC university checklist, before applying for visa and universities refund money in case of visa reject.

R · Answer

@Praharaj What is the use of Edu loan then if term fee payment is declined even when full fee refund is confirmed by the university in case of visa reject? 
Anyway, few guys have paid the fee using SBI edu loan before applying for the Visa. They have agreed to do so in my case too but after lots of convincing and showing them this message from SBI's Quora account - https://www.quora.com/Will-SBI-disburse-money-from-an-education-loan-before-a-visa

can someone tell me what's the margin money for SBI ? and how does the disbursement procedure works

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