CORPORATION BANK

4 Reviews

Arun Pancholi on May 30, 2012

Education Loan

Respected Sir/Ma'am,
This is me Arun Pancholi Studying in Asian School of Media Studies Noida (UP). I am persuing Bsc in Mass Comm,Journalism & Advertising with Graduate Level Diploma in Mass Media. Total fee is 6,00000. I paid first sem fee & got first rank in the college.For the same applied for 4,00000 rs loan in corporation bank but they directly rejected my loan saying that college is not affiliated.When i submitted proof of affiliation even they are not giving me loan.I am doing this degree & diploma regular full time.I have been visiting at bank from last four month.Manager is talking verbally not giving in written any docs.So please kindly check out & help me in this regards.
Thanking You

Yours sincerely
Arun Pancholi

3 Comments

Comments

T.A.Bairavi

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Hi,

Im Bairavi, an Advocate . I approached almost all the banks in chennai for availing educational for my masters abroad believing the norms of the banks (as per government guidelines) to provide loans up to 7.5 lakhs without security. But the reality is that no bank is ready to provide even a single rupee without security.
Unless and until government interferes and teaches the bank people a good lesson this scenario will prevail.

Thank you,
T.A.Bairavi
Annanagar

peselwyn

the scheme on educational loan is now available in many banks both Public Sector and Private Sector banks. But the interest charged by the banks are at variance. The very purpose of grant of loan for higher education is defeated because the large interest rate. In Corporation Bank which is a public sector one the rate of interest is very high when compared with the other Public Sector Bank .Due to recession the avenues of employment for freshers are restricted. As the repayment is scheduled within a year of completion of the course, even if there is no employment one has to pay the EMI. Unlike the other loans like housing loan car loan personal loan ... the loan given to education is for a noble cause. While the interest can be higher for the other loans, for education loan the rate of Interest should not be high snd it should be uniform for sll the Nationalised banks .

Will the corporation bank shall take up the matter and reduce the rate of interest on par with atleast State bank of India, if not the other banks which charge even much lower rate of Interest .

P.E.Selwyn/Bangalore

Feb 1, 2012 by

Arun Pancholi

CORPORATION BANK - MANDSAUR, Mandsaur, Madhya Pradesh, India

Respected Sir/Madam,
(This is me Arun Pancholi want to inform you that i had applied for educational loan online dated on 29/7/2011 & Ref no. RLD/CVD/14749/11 & submitted documents in Mandsaur District Branch in Madhya Pradesh State,& 7 days back i communicated about the same at head office by telephone but till the date no response given to me about the loan.Here your branch manager has not time to talk to customer he said himself on asking the suitable time about loan.Here i am only the person taking care of all the work & study & living in delhi.i can not go again & again to Madhya Pradesh for loan.I belong to poor family category (SC) & got admission in media course though test & interview.I do have 3 years job exp & 1 year teaching exp in my own coaching.
So please kind do the needful & help me in my study.)Address: CORPORATION BANK ,MAHU-NEEMUCH ROAD, NAI ABADI, MANDSAUR,MADHYA PRADESH -458002

This is the detail of me about my loan sent to head office & same thing i am mailing you.
Please do the needful regarding my study.
Thanking You
Yours sincerely
Arun Pancholi
09990154520