Thursday, May 24, 2007

Today I got the news from SBS admissions that my loan application for £20,000 has been approved by Barclays. I came to know from the current students that the hit rate among Indians is just 2% (Only one Indian got the loan in 2006). My belief is that if you don't try then you are already rejected. I will find out the truth in few months that how many other Indians got the loan from Barclays. If you have collateral then loans from Indian banks are easy but interest rates are killing.
To get success at Barclarys:
1. Talk to admissions office for past successes and other important points.
2. Maximum loan amount is
£30K but never ask for maximum. Ask based upon your current salary, assets, other guarantees etc.
3. If you are working in US/UK etc then you have better chances because of earnings.

Now all my loans are sorted out.
£20 K from Barclays and 20 Lakhs (around £25K) from SBI in India (obviously against collateral)

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