Hi everyone,
I am considering consulting 'Gyandhan' to help me finance my MS. Its a startup by IIT alumni and has tie-ups with SBI and Axis bank to provide a loan. They claim to help us sanction a loan without the hassles one usually faces when they apply to a nationalized bank. I had a conversation with their representative and he provided me the following highlights of applying through them:
Loan from SBI (With Collateral):
> Rate of Interest of 10.50% with further relaxation of .5 % (i.e 10.0%) upon opting for SBI 'Rinn Raksha' insurance scheme
>Minimum loan amount of 20 Lakhs and maximum of 1.5 Crore
>Scholarships and assistantships to be included in the margin
>Repayment up to maximum 15 years
>Repayment will start after 6 months of completion of your course
>Processing fees: INR 10,000
>Processing Time: 15 working days (approx.)
>No payment during course of study
>No pre-payment penalty
My parents feel insecure about consulting them as they are fairly new and not many people know about it.
Does anybody know about them or have personally interacted with people affiliated to this startup? Please do mention your experience with them (if you had any)!
I am considering consulting 'Gyandhan' to help me finance my MS. Its a startup by IIT alumni and has tie-ups with SBI and Axis bank to provide a loan. They claim to help us sanction a loan without the hassles one usually faces when they apply to a nationalized bank. I had a conversation with their representative and he provided me the following highlights of applying through them:
Loan from SBI (With Collateral):
> Rate of Interest of 10.50% with further relaxation of .5 % (i.e 10.0%) upon opting for SBI 'Rinn Raksha' insurance scheme
>Minimum loan amount of 20 Lakhs and maximum of 1.5 Crore
>Scholarships and assistantships to be included in the margin
>Repayment up to maximum 15 years
>Repayment will start after 6 months of completion of your course
>Processing fees: INR 10,000
>Processing Time: 15 working days (approx.)
>No payment during course of study
>No pre-payment penalty
My parents feel insecure about consulting them as they are fairly new and not many people know about it.
Does anybody know about them or have personally interacted with people affiliated to this startup? Please do mention your experience with them (if you had any)!