[Resolved] Education Loan — education loan | |||
sir i take a education loan but the manager of the central bank and manager of the state bank do not provide a education loan to me.he say that we do not autharity for education loan. sir my mobile no-[protected] and my e-mail [protected]@gmail.com Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
 11 Comments | |||
Comments
I applied for education loan with sbi main branch ambala cantt.in April 2008, and the bank took11 month ie feb 2009 to say NO for the loan, and keep asking for one another documents repeatedly.If you can provide education loan to the needy PLEASE DONT WASTE TIME AND BEFOOL, and PLAY WITH THE CARRIER
Reply
sir,
I was submit online education loan on 19.6.2009 of gandhi nagar Branch, Moradabad (u.p) but the work not progress in this matter yet now he is not submit my application form. my mother is gorvent servent (Teacher). my addmission have been done in MBA(IT) Lovely Professnol University in jallandhar (punjab) and i have deposited 10, 000Rs. and the last date of the submitting fees on 7.7.2009.
if my addmission will cancel then the bank of Patiala will be responsible for it.
I hope you will do somethig in my matter and give me a chance to get the addmission in LPU.
this is humble request to you.
NAME- ZAINUL IBAD KAZMI R/O LAJPAT NAGAR B-737 MORADABAD.(U.P)
M- [protected], [protected]
E MAIL- ZAINUL.[protected]@YAHOO.IN
[protected]@REDIFFMAIL.COM
I was submit online education loan on 19.6.2009 of gandhi nagar Branch, Moradabad (u.p) but the work not progress in this matter yet now he is not submit my application form. my mother is gorvent servent (Teacher). my addmission have been done in MBA(IT) Lovely Professnol University in jallandhar (punjab) and i have deposited 10, 000Rs. and the last date of the submitting fees on 7.7.2009.
if my addmission will cancel then the bank of Patiala will be responsible for it.
I hope you will do somethig in my matter and give me a chance to get the addmission in LPU.
this is humble request to you.
NAME- ZAINUL IBAD KAZMI R/O LAJPAT NAGAR B-737 MORADABAD.(U.P)
M- [protected], [protected]
E MAIL- ZAINUL.[protected]@YAHOO.IN
[protected]@REDIFFMAIL.COM
Respected sir/madam,
( sub; Asking educationloan)
My name is Raja,I am doing MSC IT in stjoseph college in trichy,Three
months before ,i applied for education loan in kanara bank(pkt),They told to start account.
with in three months i approached bank 5 times.but they denied to give education loan.
I don,t know now what am going to do ?.i don,t have father. my mother is working for daily wages.
i don,t know,how am i going to pay next sem fees.if you have grace on this i will continue
study otherwise......?.
please consider this letter as my request
thank you yours faithfully
s Raja
date;7-11-09
place;puddukkottai
( sub; Asking educationloan)
My name is Raja,I am doing MSC IT in stjoseph college in trichy,Three
months before ,i applied for education loan in kanara bank(pkt),They told to start account.
with in three months i approached bank 5 times.but they denied to give education loan.
I don,t know now what am going to do ?.i don,t have father. my mother is working for daily wages.
i don,t know,how am i going to pay next sem fees.if you have grace on this i will continue
study otherwise......?.
please consider this letter as my request
thank you yours faithfully
s Raja
date;7-11-09
place;puddukkottai
THE ECONOMIC TIMES 26/03/2009
MUMBAI: Some former junior employees of Rolta India suddenly find themselves in a jam. Eighty five employees, whose services were terminated or
who ‘resigned’, are left with the burden of a bank loan. This loan was taken at the company’s behest to pay the enrolment fee for an in-house training programme.
Rolta India says that the services of 50 employees were terminated for non-performance while 35 employees resigned rather than having their services terminated. Some of the aggrieved former employees told ET that about 150 of them were without a job and struggling to repay the loan of Rs 2.5 lakh.
As part of its recruitment policy, Rolta India trains all new recruits for three months at Rolta Academy, a division within the company. Each recruit has to pay a ‘non-recourse security deposit’ of Rs 2.5 lakh. Rolta has a strategic arrangement with Union Bank of India to make the amount available as an educational loan.
The Rolta website says “selected candidates will be given an offer letter, which will be valid for a period of 15 days within which they can organise the deposit from the bank with the help of the company”. The bank disburses the loan directly to Rolta India by way of a pay order/demand draft.
Rolta would pay the interest on the loan, which also forms part of the employee’s monthly salary, and pay the principal amount to the bank in two instalments of Rs 1.25 lakh each, one after 39 months and the second, 12 months later. If the employee resigns during this period, the company is absolved from paying the loan.
Former employees, who spoke to ET on condition of anonymity, allege the company created conditions due to which they were forced to resign and there was no prior warning. Some were given as little as 10-14 days to leave the company after being employed for almost close to a year.
Many of these employees approached Union Bank with a request to reschedule the EMI.
In response to an email query by ET , senior officials of Rolta said, “the amount in question is not a fee, but a ‘refundable deposit’, to discourage the employee from using the academy as a training ground to merely increase his market value. On the contrary, he/she receives full salary and does not have to worry about repaying the loan and interest, if he/she intends to fulfil the employment obligations.”
However, the loan agreement with the bank stipulates that whenever a student/employee resigns from Rolta, the entire loan amount will become payable immediately and the bank will have the liberty to take appropriate recovery measures to recover the loan.
The agreement also categorically absolves the company from paying or remitting the monthly interest or further repayments to the bank. Significantly, the loan given at an annual 12.25%, attracts an additional interest of 2% over and above the stipulated interest rate in the event of a delay or default in payment. An e-mail sent to the bank remained unanswered till the time of going to press.
Interestingly, most frontline IT companies do not levy any fees for the inhouse training, but many companies do insist on a bond.
MUMBAI: Some former junior employees of Rolta India suddenly find themselves in a jam. Eighty five employees, whose services were terminated or
who ‘resigned’, are left with the burden of a bank loan. This loan was taken at the company’s behest to pay the enrolment fee for an in-house training programme.
Rolta India says that the services of 50 employees were terminated for non-performance while 35 employees resigned rather than having their services terminated. Some of the aggrieved former employees told ET that about 150 of them were without a job and struggling to repay the loan of Rs 2.5 lakh.
As part of its recruitment policy, Rolta India trains all new recruits for three months at Rolta Academy, a division within the company. Each recruit has to pay a ‘non-recourse security deposit’ of Rs 2.5 lakh. Rolta has a strategic arrangement with Union Bank of India to make the amount available as an educational loan.
The Rolta website says “selected candidates will be given an offer letter, which will be valid for a period of 15 days within which they can organise the deposit from the bank with the help of the company”. The bank disburses the loan directly to Rolta India by way of a pay order/demand draft.
Rolta would pay the interest on the loan, which also forms part of the employee’s monthly salary, and pay the principal amount to the bank in two instalments of Rs 1.25 lakh each, one after 39 months and the second, 12 months later. If the employee resigns during this period, the company is absolved from paying the loan.
Former employees, who spoke to ET on condition of anonymity, allege the company created conditions due to which they were forced to resign and there was no prior warning. Some were given as little as 10-14 days to leave the company after being employed for almost close to a year.
Many of these employees approached Union Bank with a request to reschedule the EMI.
In response to an email query by ET , senior officials of Rolta said, “the amount in question is not a fee, but a ‘refundable deposit’, to discourage the employee from using the academy as a training ground to merely increase his market value. On the contrary, he/she receives full salary and does not have to worry about repaying the loan and interest, if he/she intends to fulfil the employment obligations.”
However, the loan agreement with the bank stipulates that whenever a student/employee resigns from Rolta, the entire loan amount will become payable immediately and the bank will have the liberty to take appropriate recovery measures to recover the loan.
The agreement also categorically absolves the company from paying or remitting the monthly interest or further repayments to the bank. Significantly, the loan given at an annual 12.25%, attracts an additional interest of 2% over and above the stipulated interest rate in the event of a delay or default in payment. An e-mail sent to the bank remained unanswered till the time of going to press.
Interestingly, most frontline IT companies do not levy any fees for the inhouse training, but many companies do insist on a bond.
THE ECONOMIC TIMES 26/03/2009
MUMBAI: Some former junior employees of Rolta India suddenly find themselves in a jam. Eighty five employees, whose services were terminated or
who ‘resigned’, are left with the burden of a bank loan. This loan was taken at the company’s behest to pay the enrolment fee for an in-house training programme.
Rolta India says that the services of 50 employees were terminated for non-performance while 35 employees resigned rather than having their services terminated. Some of the aggrieved former employees told ET that about 150 of them were without a job and struggling to repay the loan of Rs 2.5 lakh.
As part of its recruitment policy, Rolta India trains all new recruits for three months at Rolta Academy, a division within the company. Each recruit has to pay a ‘non-recourse security deposit’ of Rs 2.5 lakh. Rolta has a strategic arrangement with Union Bank of India to make the amount available as an educational loan.
The Rolta website says “selected candidates will be given an offer letter, which will be valid for a period of 15 days within which they can organise the deposit from the bank with the help of the company”. The bank disburses the loan directly to Rolta India by way of a pay order/demand draft.
Rolta would pay the interest on the loan, which also forms part of the employee’s monthly salary, and pay the principal amount to the bank in two instalments of Rs 1.25 lakh each, one after 39 months and the second, 12 months later. If the employee resigns during this period, the company is absolved from paying the loan.
Former employees, who spoke to ET on condition of anonymity, allege the company created conditions due to which they were forced to resign and there was no prior warning. Some were given as little as 10-14 days to leave the company after being employed for almost close to a year.
Many of these employees approached Union Bank with a request to reschedule the EMI.
In response to an email query by ET , senior officials of Rolta said, “the amount in question is not a fee, but a ‘refundable deposit’, to discourage the employee from using the academy as a training ground to merely increase his market value. On the contrary, he/she receives full salary and does not have to worry about repaying the loan and interest, if he/she intends to fulfil the employment obligations.”
However, the loan agreement with the bank stipulates that whenever a student/employee resigns from Rolta, the entire loan amount will become payable immediately and the bank will have the liberty to take appropriate recovery measures to recover the loan.
The agreement also categorically absolves the company from paying or remitting the monthly interest or further repayments to the bank. Significantly, the loan given at an annual 12.25%, attracts an additional interest of 2% over and above the stipulated interest rate in the event of a delay or default in payment. An e-mail sent to the bank remained unanswered till the time of going to press.
Interestingly, most frontline IT companies do not levy any fees for the inhouse training, but many companies do insist on a bond.
MUMBAI: Some former junior employees of Rolta India suddenly find themselves in a jam. Eighty five employees, whose services were terminated or
who ‘resigned’, are left with the burden of a bank loan. This loan was taken at the company’s behest to pay the enrolment fee for an in-house training programme.
Rolta India says that the services of 50 employees were terminated for non-performance while 35 employees resigned rather than having their services terminated. Some of the aggrieved former employees told ET that about 150 of them were without a job and struggling to repay the loan of Rs 2.5 lakh.
As part of its recruitment policy, Rolta India trains all new recruits for three months at Rolta Academy, a division within the company. Each recruit has to pay a ‘non-recourse security deposit’ of Rs 2.5 lakh. Rolta has a strategic arrangement with Union Bank of India to make the amount available as an educational loan.
The Rolta website says “selected candidates will be given an offer letter, which will be valid for a period of 15 days within which they can organise the deposit from the bank with the help of the company”. The bank disburses the loan directly to Rolta India by way of a pay order/demand draft.
Rolta would pay the interest on the loan, which also forms part of the employee’s monthly salary, and pay the principal amount to the bank in two instalments of Rs 1.25 lakh each, one after 39 months and the second, 12 months later. If the employee resigns during this period, the company is absolved from paying the loan.
Former employees, who spoke to ET on condition of anonymity, allege the company created conditions due to which they were forced to resign and there was no prior warning. Some were given as little as 10-14 days to leave the company after being employed for almost close to a year.
Many of these employees approached Union Bank with a request to reschedule the EMI.
In response to an email query by ET , senior officials of Rolta said, “the amount in question is not a fee, but a ‘refundable deposit’, to discourage the employee from using the academy as a training ground to merely increase his market value. On the contrary, he/she receives full salary and does not have to worry about repaying the loan and interest, if he/she intends to fulfil the employment obligations.”
However, the loan agreement with the bank stipulates that whenever a student/employee resigns from Rolta, the entire loan amount will become payable immediately and the bank will have the liberty to take appropriate recovery measures to recover the loan.
The agreement also categorically absolves the company from paying or remitting the monthly interest or further repayments to the bank. Significantly, the loan given at an annual 12.25%, attracts an additional interest of 2% over and above the stipulated interest rate in the event of a delay or default in payment. An e-mail sent to the bank remained unanswered till the time of going to press.
Interestingly, most frontline IT companies do not levy any fees for the inhouse training, but many companies do insist on a bond.
hello sirrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr...⇄
thanks for uuuuuuuuuuuuuuuuuuuuuuuuuuuuuu
thanks for uuuuuuuuuuuuuuuuuuuuuuuuuuuuuu
I AM APPLIED FOR EDUCATION LOAN BEFORE 4MONTH MY ONE SEMESTER IS OVER ME STILL WAITING FOR LOAN I HAVE SUBMITTED ALL DOCUMENT THOSE REQUIRD BY BANK .TILL ON DATE SBI IS NICE THAT IMPESSION WE CARRY NOW OUR IMPRESSON TOATALY CHANGE .BANK POLICY IS NOT GOOD .IT WILL BE COLLEPS THIS BANK IN NEAR FUTURE
Hi,
We are around 90 students studied in IFCR institute kerala. total tution fees they charged more than 4 lakhs so we took bank loan from BOI kerala and our nearby home town BOI branch (all over india)
After finishing the course now we realised that that certificates and that institute does not have any value. they promised us for job confirmation, however till now (more than 2 years) they did not assist or helped for any job.
Please take this information and students life (doctors, pharmacist and life science people) an into consideration.
now our interest rate is increasing day by day. we do get bank notice from BOI. Some of our students filed that case against the institute even they are not responding. since they have big political and other back ground in kerala.
Note: We think they (IFCR) do have big colaboration with BOI kerala. cochin. Ernakulam. and played all our professional students life.
We are around 90 students studied in IFCR institute kerala. total tution fees they charged more than 4 lakhs so we took bank loan from BOI kerala and our nearby home town BOI branch (all over india)
After finishing the course now we realised that that certificates and that institute does not have any value. they promised us for job confirmation, however till now (more than 2 years) they did not assist or helped for any job.
Please take this information and students life (doctors, pharmacist and life science people) an into consideration.
now our interest rate is increasing day by day. we do get bank notice from BOI. Some of our students filed that case against the institute even they are not responding. since they have big political and other back ground in kerala.
Note: We think they (IFCR) do have big colaboration with BOI kerala. cochin. Ernakulam. and played all our professional students life.
loan — education
respected sir, my brother have applied for education loan in sbi, he completed one semester still he not getting his loan amount.we lost our confidence by demanding loan and we pay interest to other local agency due to lating of this loan Hiiii This is Navneet Mehta. sir i was taken the education loan in 2007 from State bank of indore previosely now it is india Branch Collectorate Dhar , Madhya Pradesh.
Branch Manager of this above branch told me you will have to repayment the loan within 36 month after completion of your course but when i visited your education loan policy site there was mentioned you can repayment the loan up to 4 lach with in 5 to 7 year duration then why is he asking me for repaymenting the loan within 36 month.
kindly suugest the proper way to solve this matter.
Thanks & Regards
Navneet Mehta
Branch Manager of this above branch told me you will have to repayment the loan within 36 month after completion of your course but when i visited your education loan policy site there was mentioned you can repayment the loan up to 4 lach with in 5 to 7 year duration then why is he asking me for repaymenting the loan within 36 month.
kindly suugest the proper way to solve this matter.
Thanks & Regards
Navneet Mehta
All Indian banks website boast of providing education loan to needy students, and when students make all hopes of getting a loan, HDFC bank said they need an FD of an amount more then education loan, which is written nowhere in the website. If a student tis able to make an FD to the bank why would he/she needs a loan. Indian system sucks, India can never progress by having such lame conditions over education loans.