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ICICI Bank Education Loan Disbursement Process | GyanDhan
<p> Published date: 25 Nov 2020 Updated on: 25 Nov 2020 &nbsp; Education loans are a boon to students who find personal funds to be less than adequate at most times. With several benefits, they are the best choice for funding abroad education. You should search and explore various education loan options so that you can settle on the best-suited loan product that helps you with your overseas journey.&nbsp; There are many lenders in the market, each with a different loan product. We have a whole series of blogs on different loan products and disbursement processes to help you.&nbsp; In this blog, we are exploring the disbursement process, features, and benefits of the ICICI Bank education loan.&nbsp; What steps are to be taken before the ICICI Bank Education Loan disbursement process?&nbsp; The ICICI Bank education loan process is plain and simple. All you need to do is as follows -&nbsp; Apply for the loan - You can apply for the loan online on the GyanDhan portal after understanding the features and benefits of the ICICI Bank education loan. The entire loan application can be completed online, including submission of the required documents.&nbsp; Submit the required documents - The loan application form requires various documents such as the admission letter, fee structure, KYC documents, collateral documents (if applicable), course-specific documents, etc. GyanDhan will send your case-based document checklist to the registered email of the student, which can be easily uploaded on the portal. ICICI Sanction letter - Once the documents are submitted and verified, the ICICI Bank education loan sanction letter will be sent to the registered email of the applicant. Students are advised to read this letter carefully. Final Loan agreement - On accepting the terms and conditions mentioned in the sanction letter, applicants are required to submit further documents. After which, the bank sends the final loan agreement to be signed by the applicant and the co-applicant(s). The loan amount is disbursed as per the student’s request.&nbsp; What are the ICICI Bank Education loan documents required?&nbsp; The documents required for the ICICI Bank education loan process are as follows -&nbsp; Applicant’s KYC documents - Aadhar card PAN card Valid passport&nbsp; Driver’s license Applicant’s proof of address Tax paid receipt&nbsp; Telephone bill/Electricity bill/Water bill of not more than 3 months old Ration card Academic transcripts - 10th, 12th, and undergraduate mark sheets&nbsp; Test scorecards of GRE/GMAT/TOEFL/IELTS/PTE, if required.&nbsp; Admission letter&nbsp; Fee structure&nbsp; Applicant’s signature proof - Banker’s signature verification Passport copy PAN card Documents required from co-applicant(s) 3 months payslips and proof of any other additional source of income 6 months updated bank statement of salary account Latest Form 16 and ITR Relationship proof (with the applicant) The co-applicant will also have to submit 9-12 post-dated cheques, in case s/he is unable to make an interest payment in a particular month.&nbsp; NACH form There may be additional case-based documents that the applicant will have to submit to complete the application process and to initiate the disbursement process. The documents have to be notarized on stamp paper.&nbsp; Want To Apply For An ICICI Bank Abroad Education Loan? Fill this form and get in touch with an expert What is the ICICI Bank education loan disbursement process?&nbsp; The ICICI Bank education loan disbursement process does not require any additional steps. Once the bank has presented the sanction letter, the applicant has to submit all the above-mentioned documents, as well as any other mentioned in the letter. The applicant can request disbursement of the loan amount after the documents are submitted and verified by the bank. The time taken for disbursal is 15 working days. The process is quick and hassle-free for timely disbursement of loans.&nbsp; Tuition fees - The tuition fee is directly transferred to the university account or the student’s account.&nbsp; Living expenses - Expenses for accommodation, hostel, travel, etc, are transferred to the student’s account for ease of processing. Other expenses - All expenses incurred during studies abroad are covered under the ICICI Bank education loan. The loan amount for the same is transferred to the student’s account.&nbsp; Students should remember to request disbursement at least 2 to 3 weeks before the deadline for fee submission to provide ample time for the bank to process it and to avoid any delays in submitting the fee.&nbsp; What are the features of the ICICI Bank education loan?&nbsp; The ICICI Bank education loans are student-friendly with various features that aid students to pursue abroad education without breaking into a sweat. Some of them are as follows -&nbsp; Loan amount - ICICI Bank offers education loans up to INR 1 crore (with collateral) for overseas education. For education loans without collateral, the bank offer loans up to INR 40 lakhs for postgraduate courses and up to INR 20 lakhs for undergraduate courses.&nbsp; Interest rate - The ICICI Bank education loan interest rate for international studies starts at 11.25% for postgraduate courses. For undergraduate courses, the interest rate starts at 11.75%. The interest rate, however, can differ based on the course and the institute. If the student has secured admission in a top-ranking college, the interest rate can be negotiated. Simple interest is calculated on education loans.&nbsp; Margin Money - The bank does not charge any margin money on loan amounts up to INR 20 lakhs. Margin money for loans above INR 20 lakhs ranges from 5% to 15%. Any scholarship amount or initial fee paid to the university can be included in the margin money.&nbsp; Eligibility - The ICICI Bank education loan eligibility criteria is rather simple - &nbsp; The student should be an Indian national.&nbsp; The student should have secured admission in a recognized university to a degree or diploma course.&nbsp; The student should have successfully completed 10+2 education.&nbsp; Processing fee - The ICICI Bank processing fee is 1% of the loan amount plus applicable taxes.&nbsp; Repayment tenure - The bank offers up to 8 years after the moratorium period ends to repay the loan amount. If the student has pledged collateral, the loan tenure is 10 years post the holiday period.&nbsp; Moratorium period - The loan repayment starts after the completion of the course + 6 months.&nbsp; What are the benefits of the ICICI Bank education loan?&nbsp; The benefits of an ICICI education loan are as follows -&nbsp; Loan coverage - The education loans by the bank will cover any and every expense that is incurred in overseas education. Students can also pledge collateral to get a higher loan amount limit.&nbsp; Wider course and college coverage - Most lenders keep a list of eligible courses and colleges for abroad education. ICICI Bank, on the other hand, gives education loans to practically every course and college provided it is a recognized institute. Instant Education loan - The bank facilitates instant education loans that enable students to get an instant Sanction letter. The ICICI Bank Abroad loan Sanction letter is accepted as a source of funds for student’s admission confirmation. The student can avail of the Instant Education Loan by pledging Fixed Deposit with the bank. The instant loans are pre-approved, and therefore, the sanction letter is sent on the registered email ID of the customer.&nbsp; Interest rates - The ICICI Bank education loan interest rate is dynamic. On securing admission to a reputed and top-ranked college, the rate of interest can be negotiated to a lower figure.&nbsp; Pre-Visa disbursal - The bank offers the option to get the loan amount disbursed as a way to show proof of funds during the visa interview. The bank also has preferential forex rates for international disbursements.&nbsp; Margin money - There is no margin money on loan amounts up to INR 20 lakhs.&nbsp; Tax benefits - Under Section 80E of the Income Tax Act of India, the interest paid on an education loan is tax-deductible. Students can avail of this benefit by taking a loan from the ICICI Bank, as well as any other scheduled bank in India.&nbsp; In addition to this long list of benefits, the bank accepts non-financial co-applicants if the applicant has 3+years of experience and is going for a postgraduate course. There is also no penalty on prepayment of loans.&nbsp; What are the advantages of opting for the GyanDhan Gateway for your education loan?&nbsp; GyanDhan is a one-stop-shop for education loans and abroad studies. We provide services to students that we know would not only benefit the students but also make their abroad journey easy and hassle-free at zero cost to the students. Our Education Loan Counselors (ELC) will discuss the loan options with you before initiating the loan application. After a thorough discussion, the loan process is started with the lender that suits your profile and needs.&nbsp; We have partnered with ICICI Bank and several other major lenders in the market. While approaching a lender might be the first choice of the students, they should consider the benefits of channels like GyanDhan. The loan process is swift and with zero hiccups. The chances of any hindrance are negligible, and if faced, will be resolved immediately by your assigned ELC by contacting the concerned bank official. The ICICI Bank loan application status can be easily tracked on the dashboard of your GyanDhan account.&nbsp; The education loan process with GyanDhan is nothing short of a walk in a park. Just check your loan eligibility here and finance your dream education! </p> <hr> <small>This is a companion discussion topic for the original entry at <a href="https://www.gyandhan.com/blogs/icici-bank-loan-disbursement">https://www.gyandhan.com/blogs/icici-bank-loan-disbursement</a></small> ... Read more

WEBINAR- Big Data, Big Paycheck! All about an MS in Business Analytics!
With the surge in the popularity of Big Data related jobs in the world, the Analytics roles are also gaining huge traction. Almost every industry such as technology, financial services, retail, healthcare, travel, FMCG, media, etc. leverage business analytics to gain a competitive edge over the competitors. Because of this astronomical rise in demand for trained business analytics professionals, the job prospects in the field have also augmented manifolds. To explain to you in detail about the MS in Business Analytics- best colleges abroad, eligibility, job prospects, and prerequisites, GyanDhan, in partnership with Galvanize Test Prep, is organizing a webinar "Big Data, Big Paycheck! All about an MS in Business Analytics!". The webinar will be organized on Saturday, 28th Nov 2020 at 11 AM IST. The speaker of the webinar will be Pavithra Srinivasan (Stanford University Alumna). **Highlights for the Session:** * Is my background/profile suitable for an MS in Business Analytics? * Which countries and universities should I apply to? * What kind of jobs will I get after the course? * What prerequisites and courses will be a part of this program? ... Read more

All About Auxilo Education Loan Disbursement Process | GyanDhan
<p> Published date: 21 Nov 2020 Updated on: 21 Nov 2020 &nbsp; There are several Non-Banking Finance Companies (NBFCs) offering education loans to students. The most highlighted benefit of these lenders is that the eligibility for an education loan is reasonably relaxed, helping students secure funds for their choice of course and country comfortably.&nbsp; Auxilo is one such lender in the market that offers education loans for abroad studies. Founded in 2017, Auxilo is a pro-education NBFC that believes in the right to education for every student. They offer complete loan coverage, competitive interest rates, flexible repayment options, and several other benefits.&nbsp; In this blog, we are looking at the disbursement process of the Auxilo education loan in detail to help students understand the process.&nbsp; Without further ado, let’s get into it - &nbsp; What are the steps taken before the Auxilo Education Loan disbursement process? The Auxilo education loan process is straightforward and hassle-free for the students. The process is further simplified on applying for the same through GyanDhan. Let’s read about the Auxilo education loan process -&nbsp; Apply for the loan - The simplest way to apply for the Auxilo education loan is to get in touch with GyanDhan. You can apply for the loan after a thorough discussion with our education loan counselor to understand the loan product offered by Auxilo.&nbsp; Submit documents required - The loan application requires students to submit certain documents. Documents and details regarding the institution such as admission date, fee structure, course-specific information, and admission related documents are mandatory for the Auxilo education loan process.&nbsp; Loan Structuring - Auxilo will verify the documents submitted, as well as the enrollment documents. At this point, you will have to get your co-applicant’s signature. Once the documents are verified and your application is analyzed, Auxilo will offer an education loan that is structured and customized exclusively for you.&nbsp; Final loan agreement - On accepting the initial loan offer, you will receive a final loan agreement, which has to be signed by the applicant and all the co-applicants. The loan amount can be disbursed after accepting the final loan agreement. The money can be disbursed as per the student’s convenience.&nbsp; What are the Auxilo Education loan documents required?&nbsp; To complete the loan application and process, the applicant must submit all the mandatory documents. Though the list of documents differ from case to case, some of the commonly asked documents are as follows - Applicant’s KYC documents -&nbsp; Aadhar Card&nbsp; Valid Passport PAN Card Voter Card&nbsp; Driver’s License Applicant’s Proof of Residence -&nbsp; Tax Paid receipt Telephone bill/Electricity bill/Water Bill of not more than 3 months old Ration Card Academic Transcripts - 10th, 12th, and undergraduate mark sheets Test Scorecards of GRE/GMAT/IELTS/TOEFL, if applicable. Applicant’s Signature Proof - Banker’s Signature verification Passport Copy&nbsp; PAN Card&nbsp; Driving License with photograph and individual signature Clearance of Processing Fees cheques - the concerned officer will verify the signature on the application form with the processing fee cheque.&nbsp; Notarized Affidavit&nbsp; Documents Required from Co-Applicant(s) 3 months payslips and proof of any other additional source of income 6 months updated bank statement of salary account Latest Form 16 and ITR Relationship proof (with the applicant) The co-applicant will also have to submit 9-12 post-dated cheques, in case s/he is unable to make an interest payment in a particular month.&nbsp; NACH form Financial documents of the co-applicants vary depending on the type of employment - Private company, Partnership Firm, Trust/Foundations, Proprietorship Firm.&nbsp; For example, for a Partnership, the documents required are -&nbsp; Registration Certificate, if registered Updated and latest Partnership Deed Telephone Bill in the name of the firm Certificate/Registration document issued under GST/Professional Tax or any other authorities.&nbsp; Certificate/License issued by the Municipal Authorities under Shop and Establishment Act.&nbsp; Any other case-based document required by the lender would be informed to the applicant during the loan process, which they will have to get notarized on a stamp paper. What is the Auxilo Education loan Disbursement process?&nbsp; Auxilo disbursement process is easy and effortless. Once the loan formalities, such as submitting additional documents or post-dated cheques, etc. are completed, the loan amount can be disbursed as per the applicant’s request.&nbsp; Tuition Fees - the tuition fees can be either directly transferred to the university or to the student’s account.&nbsp; Living Expenses - the living expenses are transferred to the student’s account.&nbsp; Other Expenses - The Auxilo education loan covers a plethora of expenses. The loan amount can be disbursed to the student’s account for these additional expenses, such as travel expenses, pre-admission costs, etc.&nbsp; Want To Apply For Auxilo Education Loan For Abroad Studies? Fill this form and get in touch with an expert What are the features of the Auxilo education loan?&nbsp; Auxilo education loan is preferred by students to finance their abroad studies on account of the various features. The loans offered by Auxilo are holistic and customized. Let’s look at some of the features of the education loans by Auxilo -&nbsp; Loan amount - There is no cap on the maximum amount you can borrow from Auxilo. If the student and co-applicant profiles are outstanding, the lender will fund the entire cost of education. However, with an average profile, the student can expect to borrow up to INR 40 lakhs.&nbsp; Interest Rate - The Auxilo education loan interest rate is calculated as = Auxilo Base Rate + Spread. The current base rate is 12.70%. The spread is determined based on the student’s profile and the course selected.&nbsp; Eligibility - To be eligible for the Auxilo education loan, students must fulfill the following criteria -&nbsp; The student must be an Indian citizen and 18 years and above.&nbsp; The student must have confirmed admission to a recognized university before the loan amount is disbursed.&nbsp; The loan must be co-signed by an earning co-applicant in India.&nbsp; Processing Fees - The Auxilo loan processing fee can be 2% of the sanction loan amount or as per the Sanction letter.&nbsp; Repayment tenure - The lender offers up to 10 years to repay the loan.&nbsp; What are the benefits of the Auxilo education loan?&nbsp; There are a great many benefits of choosing Auxilo to fund your education. Some of them are as follows -&nbsp; Loan Coverage - Auxilo has your back. Whatever may be the expenses, your loan amount will cover it. Expenses like tuition fees, living expenses, examination fees, travel expenses, etc. are all covered by the loan, meaning zero margin money.&nbsp; No-limit loans - Auxilo has not set an upper limit on the amount that can be borrowed, meaning if the student profile is good, any amount can be sanctioned.&nbsp; Customized loan options - Auxilo studies the profile and needs of the student before presenting a loan offer. There is no fixed loan product as the needs of every student are dynamically different, which the lender takes into account. And therefore, offers customized loan products.&nbsp; Pre-admission loan - Auxilo offers education loans to students who have not yet received an unconditional admission offer. This loan offers the benefit of ‘proof of funds’ to help students receive Confirmation of admission.&nbsp; Pre-Visa Disbursement - Students can opt for pre-visa disbursement to show adequate funds as a testimony as well as ‘proof of funds’ during their visa interview.&nbsp; Wider course and country coverage - There’s a wider coverage in terms of the courses and countries that Auxilo supports. For example, Auxilo provides funds for almost all the courses like undergraduate, postgraduate, professional degrees, diploma courses, technical or professional courses, vocational training, or executive programs. There is also no limit on the number of countries supported.&nbsp; Multiple co-applicants - Many students face the problem of co-applicants in the case of unsecured education loans. To tackle this issue, Auxilo allows multiple co-applicants as well as multi-city co-applicants.&nbsp; What’s the advantage of GyanDhan Gateway for the education loan?&nbsp; GyanDhan knows the value of the right loan and lender to fund abroad education. And to help you get the best services to finance your education, we discuss all the possible options available to you, taking into account your needs and requirements. Further, we have partnered with Auxilo to assist you to get the education loan without any hitch. The entire loan application process can be completed online on GyanDhan’s portal and the Auxilo loan application status can be tracked on the dashboard of your GyanDhan account.&nbsp; GyanDhan assures a swift and hassle-free education loan journey for the students at zero cost to them. Check your Auxilo education loan eligibility here and start your Auxilo education loan process right away! </p> <hr> <small>This is a companion discussion topic for the original entry at <a href="https://www.gyandhan.com/blogs/auxilo-loan-disbursement">https://www.gyandhan.com/blogs/auxilo-loan-disbursement</a></small> ... Read more

Lambton college
Hi, Could anyone know what are the job prospects for anyone passing from lambton college with a graduate certificate in cybersecurity ... Read more

What Biden presidency means for Indian students
With Joe Biden securing a win in US presidential elections 2020, there are lots of airs around the world about what will his policy be regarding international students, particularly about Indian students. Will it be different from that of the outgoing president Donal Trump? Biden will take over the White House in January 2021 and the questions about his policies for Indians/Indian students are largely debated. Like elsewhere, GyanDhan and its partner Galvanize Test Prep also have views and predictions on the vital questions. To discuss what a Biden presidency means for international/Indian students, GyanDhan is organizing a webinar 'WIN-WIN: What a Biden presidency means for Indian/International students!'. The webinar will be held on Saturday, 21st November at 11:00 AM IST. The speaker of the webinar will be Pavithra Srinivasan (Stanford University Alumna). **Highlights for the Session:** * Likely to be implemented employment and green card policies for graduates. * How Biden will take a focused, science-based approach to the Coronavirus. * How Ph.D. hopefuls in STEM fields are likely to benefit from a Biden administration. ... Read more