XIII) Cash and Forex Cards

After Visa approval and booking flight ticket now one need to look for US currency. One need to convert rupees to dollars before going to the US. Though there is the facility at the airport to convert rupees but its costly. So its better that if we convert the rupees beforehand.

Multiple ways are there to convert rupees to dollars. There are several banks and third party agents which convert the rupees to the dollars. And also there are multiple ways in which one can convert currencies - Notes, Traveller's cheque , Card (Preloaded Card)

Things to Note:
1. When to apply: Max 60 days before the date of travel
2. Max Documents Needed: Passport (1st & last page), VISA, Pan Card, i20/admission letter, Travel ticket
3. Min Documents Needed: Passport (1st & last page), VISA, travel ticket

How to select the best among all the forex:

1. Currency and traveller's cheque: Go for off course the cheapest one. Found that third party offers much cheaper rates than the bank due to the bidding.

2. Forex prepaid card: There are multiple factors to consider here. Arranged important ones in descending order.

• Online reload
• Free ATM withdraw/ ATM withdraw cost
• Forex rate
• Reload cost
• Initial deposit
• Customer Service
• Validity

Banks preferred:

1. HDFC Forex:
Pros: For the folks who took loan from credilla, good customer service
Cons:

2. ICICI Forex:
Pros:
Cons:

3. SBI Forex:
Pros: For the folks who took loan from SBI, cheaper than other banks but not from third party.
Cons:

4. Axis bank: Have heard less but positive reviews, but not sure about authenticity of reviews.

Third Party:


1. Thomas Cook:
Pros: Online reload
Cons:

2. bookmyforex:
Pros: Online reload, has tie ups with axis bank
Cons:

3. doorstep forex:
Pros: Online reload, Free ATM withdraw (3 times)
Cons:

4. centrumforex
Pros: Online reload, Free ATM unlimited
Cons:

I did opt for centrumforex and SBI. But SBI was faster to reload.

V) UB Health Form

To register for the classes one needs to fill and submit the UB health form along with proofs.

• Health form can be downloaded from the website or u will get the copy along with the i20. In health form, one needs to fill details about the vaccine. Along with details, one also needs the sign and stamp from the health officer (can be a family doctor) with proofs of the vaccines

• Proof of vaccines: Can get is written by the family doctor that you have taken that particular vaccine on so and so date

• Mandatory vaccines for UB: 2 MMR vaccines

• For Indian folks tuberculosis test is mandatory. Basically under tuberculosis: blood test, x-ray, saliva and ppt test are carried out. But the important one is ppt or tuberculosis skin test.

• MMR vaccine: If you are not sure or don't have records, it is good to have one dose before traveling. It hardly cost around Rs.120-140.

• PPT/Skin Test: In this test, some liquid is injected on the hand whose results are verified after 24hrs 

                                                                       
                    

IV) Try Out Scholarships!

Hi,

Hope my earlier posts have been useful to at least few of you guys. So here after writing posts on financial documents, loans, and F1 visa, I am planning to write the post on scholarships which could definitely help few of aspiring students. Actually, UB as such doesn't provide scholarships to the international students for Master's program. But there are multiple sources from you could get the scholarship.

One such scholarship was "Sakal scholarship" which I thought I missed though, but through which I started searching for other external scholarships. Also, I couldn't forget to add my mother's name due to which I actually started looking and applying for scholarships. You guys might be wondering that when UB provides low tuition fees, then why should we actually search for the scholarship?
Yeah! that's what I had exactly asked my mother.
Her reply was "There is the different pride while studying with scholarship!"

And then with her one reply, I was damn satisfied, because gaining scholarship was a challenge to me. Let's see if I would get the scholarship or not.

1. Sakal scholarship:

• Forms: In Sakal newspaper, it is published about the forms in the first week of April. One needs to write the application letter and send along with the copy of i20 or/both admit letter with 10Rs stamp paper to its office. Then they would send you the application form by post or you may collect it from there office. The last date to send the application letter is 31st May and fully filled scholarship form is 15th June.
• Results: Will be declared after 15 of June
• Loan amount of sixty thousand would be received as the scholarship, which can be paid within the two years time frame.
• One of the UB aspirants did receive the scholarship this year! Read in the newspaper.

Attachment: Application for scholarship

2. Aga Khan Foundation Scholarship:

• I had emailed akf-isp@akesi.org regarding the scholarship forms. They, in turn, redirected me to mail akfispindia.2017@gmail.com The response to the mail was fast, they indeed emailed me the forms along with the dos and don'ts well addressed. Unfortunately, I didn't apply to this scholarship purely because the deadline was very close & getting hard copies of three recommendations and then sending the copies to the Delhi office was the problem due to the time constraint
• The scholarship provided by Aga Khan foundation is of type - interest-free loan amount.

3. J N TATA Endowment: 

• Those who secure admission in Cornell University, a scholarship given to them are in good numbers.
• For others, they provide the loan scholarship. i.e they provide the loan without interest. For few, they even give provide scholarship amount without repayment.
• Complete process to apply for the scholarship is online. All the proof documents along with the recommendation letters need to be uploaded.
• The last date to apply for the TATA scholarship is 31st March
• My bad luck, scholarship application got rejected on 11th April

4.  K.C Mahindra Scholarship:

• We need to download the Mahindra Scholarship forms from their website. Then after completing the application form, along with the proofs and recommendation letters we need to post them to the address mentioned somewhere in Mumbai.
• The last date to apply for the K.C Mahindra Scholarship was in the mid-20s of march'.

5. Narotam Sekhsaria Foundation:

• The scholarship is in form of zero interest loan. 
• This is the only scholarship where we need to pay 500 rupees before starting the scholarship application process.
•  The application form is completely online. 
• On the website, it was also mentioned about the mentors to be assigned to the scholarship holders. 
• The last date to apply for the Narotam Sekhsaria foundation scholarship is 31st March.

Thanks,
NK 

III) US VISA - Preparation and Interview

Now with SBI loan underprocess, next thing is to prepare the financial documents required for the VISA (F1) interview. Now we just can't randomly prepare the financial documents right? We need to prepare the documents as per the questions asked.

So the common questions asked in the interview are:

1. "Who would sponsor you?"

2. If you told about parents being your sponsor, they will ask, "What they do?"

A) For business, 

-"What business?".

If the business is cool, they wouldn't even look at your financial documents.

And the chances of visa getting approved would be high. 

Because they would not grill for questions related to returning back to India, which is the difficult part to convince them :(

B) For job,

-  Again if the sponsor works in state or central government at a good position, the chances of visa getting approved would be high. Because they would not much grill for questions related to returning back to India, which is the difficult part to convince them :(

It definitely doesn't mean that other students don't go for Masters to the US. The i20 is always higher than the actual amount and in reality, no one will have so many liquid funds. Mostly the people would invest in the property and the shares rather than FDs or in the savings account.

Now, let's prepare the financial documents for answering the questions asked in the VISA interview.

Who would sponsor you?

If they are parents.. would ask "What they do?" "What's their annual income?" Also, will be asked to show the passbook.
If their annual income is less than 10 lakh would grill again that it wouldn't be enough..how would u repay the loan .. future plans..if in India..? salary you would get in India ..after the degree?
If ur parents are retired then would ask "What they did before?" Sometimes they need the designation, sometimes job roles, etc

But the interview is of 3-5 min right? And you can't even explain in detail. So one must prepare the financial summary document.

So final conclusion is to prepare your financial documents depending upon the answer you would give to VI officer.


my US VISA approved @Mumbai on 18th may'2017

US VISA is divided into two procedures:

1. OFC Centre:

You need to appear at least a day before VI. Need to carry just the passport, DS 160 and appointment confirmation page. Can go before the appointment time. I had the appointment at 3. But they allowed me inside the office at 2,15 itself and to my surprise, I was out before 3.
At the OFC office, just photo and fingerprinting are carried out. Girls need to tie their hairs for the photo.

2. VISA Interview (VI):

Need to reach before an hour they allow early to enter the office. The Huge line is there near the consulate building.

Again, fingerprinting is carried out before the VI

VI (Counter no 29)
Forwarded just the passport, i20 and sevis receipt.

Questions asked to me...

1. Why UB?

(Ans) Explained the latest research going in Rosewell Park Cancer Centre in Buffalo and how it's aligning with my research in PPS..and how my course is going to help

2. Who is going to sponsor u?

(Ans) major funds from loan - SBI, personal savings
          minor: parents

3. What ur parents do?

(Ans) My mom is a teacher. My father is retired.

4. What he did before?

(Ans) Was analyst

VI replied: Congrats ur VISA is approved!
Gave a broad smile!
Replied, "Thank you ma'am! have a nice day..."

II. Education loan by SBI

Credila is popular among the students, but due to its high interest rate and processing fees, I did some research on the nationalazied banks - SBI. I have heard from many folks that the loan process in nationalazied banks is tediuos and lengthy so thought to give some shot.

For the documents required for loan approval by Credila refer my earlier post - I.  Here, in this post would share the list of documents needed by the SBI.

<Documents required for Student Loan>

Application duly filled up (With Photograph)

Student:

1. Mark Sheets of HSC, SSC and other examinations passed by students
2. Bio-data form along with proof
3. Identity proof of student
- Copy of passport(both front and back side xerox )
- Pan card
- Adhar Card
4. Proof of admission in the course (admit letter)
5. Schedule of expenses for the course issued by the colleges (could be i20)
6. Prospectus/documents evidencing course commencement and duration (i20)
7. Reason of Gap (Gap certificate..consult advocate)
8. Proof of margin (bank statement)
9. Releiving letter from your office (if you are working) If you havent resigned yet u could submit an application

Guardian (Can add the names of both of parents)

1. Identity proof
- Aadhar card/ Pan card
2. Residence proof
- Aadhar card/Pan card
3. Recent Salary Slip
4. Employement details for last 5 years
5. Statement of Bank account where salary is credited for last 6 months
6. Form No. 16 for last 2 years/ IT return for last 2 years. OR Profit and Loss Account and Balance sheets along with computation of Income.
7. Bio-data form along with all supporting documents
8. Statement of all loan accounts if availed

Property Papers

1. Flat purchase agreement
2. Index - II and its Registration Receipt
3. If flat is still under construction then:
    i)    NA Order
    ii)   ULC Order
    iii)  NOC from the builder on Bank's Standard format
    iv)  Builder's search report
4. Approved plan
5. Commencement Certificate
6. Completion Certificate
7. Development Agreement / Conveyance deed (If society is formed)
8. Society registration certificate
9. Share certificate
10. NOC from the society on Bank's standard format

All the documents should be xerox copy with self attestation
</Documents>

For verification,
- Bring original copy of KYC documents(Aadhar/Pan card/ Passport)
- Bring Original marksheets
- Xerox should be self attested
- 2 photos of both applicant and sponsor
- cheque book (need to give cheque of 4000., which is then given to advocate,...who prepares some papers regarding property)


Tip:
- Create three files for applicant info, sponsor info and other for property papers
- Open the SBI account if not opened. It can be joined of applicant and sponsor.

Total Costing:

1. Valuator fees: 860 Rs
2. Advocate fees: 4000 Rs (This is again for some valuation document)
3. Processing fees: 10000Rs
4. SBI Life Premium (Calculated based upon tenure and loan granted amount)

Few days will be spent for valuation and for preparing adavocte reports. I had given the cheque Rs.860 to valuator and Rs.4000 to bank.

SBI gave me the contact no of both valuator and advocate. I had to personally go to the advocte and submit all of property xerox papers( all the documents in the list3) in his office.
Advocate are the lazy guys they took almost a week to prepare some report which they later submitted directly to the bank.

Main processing office for education loan is situated somewhere in swargate(PUNE). So after all the document list is complete, bank submits our file to the loan processing office. Once the file is reached, some person from the bank will visit the property after 3-4 days and ask few general questions. They would also open the loan account of your name in SBI within 15 days. Once they officially start processing the loan the sponsor receives the SMS about the same.
SBI guys would do visit the work place of your sponsor, call the employer, call your sponsor to confirm again few details if they have doubt.

Finally after 3-4 months I had visited the swargate office for my bank loan, to know till where the process has reached. After visting 2-3 times, finally sbi folks gave me the sancetion letter with 8.85% interest rate which I used as financial proof in my VISA interview.

After week or two I received both the call and mail from the SBI to submit the original property papers and sign the documents. Our appointment was scheduled at 2.30, but the whole process got completed at around 4.30-5.00. So many forms to fill and sign took much of our time.

List of documents to be carried to the SBI office @time of signing the final legal papers:



*** Would continue the post with disbursement process and documents.