F.A.Q

What are the eligibility criteria for educational Loan?

Students who are looking to enroll in University or college abroad for a Professional or technical degree.

What are the documents I need to produce?

Produce the below mentioned documents along with the duly filled application form:

• Mark lists of last qualifying examination for school and graduate studies in India
• Proof of admission to the course
• Schedule of expenses for the course
• Copies of letter confirming scholarship, etc.
• Copies of foreign exchange permit, if applicable.
• 2 passport size photographs
• Statement of Bank account for the last six months of borrower
• Income tax assessment order not more than 2 years old
• Brief statement of assets and liabilities of borrower.

Is there any age restriction to avail the loan?

No particular age restriction for the student to avail loan.

What are the expenses included in the Educational Loan?

Expenses required for the course completion including Tuition fee, Project Fee, Books, Equipments. Travelling, Study Tours etc. along with the special funds and deposits.

Are there any processing fee?

Deposit of Rs. xxxx will be charged for processing that will be adjusted in the margin money

What is repayment period?

Repayment will begin one year after the course completion or after 6 months of getting into a job whichever comes first.

Whom should I contact for more details?

You may call us at

• Telephone: 0486-2229984
• Mobile: +91-8606740000
• E-mail: enquiry@scottiabankers.com, scottiabankers@gmail.com

What are the benefits of gold loan?

A Gold Loan is sanctioned against the pledged gold ornaments which otherwise wouldn’t be of any usage. It is convenient, not complicated and less time consuming as you are already pledging your gold as a security. You also have the option to extend the repayment period as per your convenience under specific conditions.

Should I provide a security for loan?

All you need to do is to produce your gold in our branch. No security or guarantor is required. The loan amount will be decided as per the market value of the gold and its purity.

What are the documents needed for the gold loan?

Either one of the below mentioned ID Proof is enough to apply for a Gold loan:

• Ration Card
• Driving License
• PAN Card
• Voter ID Card
• Passport
• Addhar card

What is the rate of Interest charged on Gold loans?

We charge 12% as the base interest rate. An additional amount of interest from 3- 12%may be charged based on the loan to value rate. No prepayment penalties are charged.

What is the tenure of the gold loan?

The minimum tenure of the gold loan is 1 day and the maximum tenure is 15 months.

Is my gold secure with Scottia Financiers?

You can fully confident on us with regard to your pledged gold. We are well aware of the pain you have taken to gain that. For your gold we have strong lockers and all the other safety measures have been taken. Not only that, we have insured the gold for full value in case of any damage or loss.

Why should you choose Scottia Financiers to have a gold loan?

Our Gold loan services offer:

• Immediate cash disbursement
• Loan amount extends from Rs. Xxxx to Rs. Xxxxxx
• Interest only for the specific period of loan
• Easy and simple document processing
• Less complications and delaying
• Accepts only Hallmarked gold
• Secured lockers and rooms to safe keep gold
• Fast feedback on the inquiries

Whom should I contact for more details?

You may call us at

• Telephone: 0486-2229984
• Mobile: +91-8606740000
• E-mail: enquiry@scottiabankers.com, scottiabankers@gmail.com

What is the minimum time required to send the money abroad?

It will take a minimum of 48 hours to send the money.

Which are major currencies we can exchange?

The major currencies are USD, CAD, EUR, JPY, AUD, ZAR, GBP, HKD, NZD, SGD

Are there any restrictions on any currencies or countries the currency comes from?

There are no restrictions for any country or currency to send the money.

How much foreign exchange can be availed by a person?

A person migrating abroad can avail USD 100,000 or the amount suggested by the country he emigrates to.

How Much foreign exchange can I have for business trip?

A person can hold up to USD 25,000 per visit except for Nepal and Bhutan.

Whom should I contact for more details?

You may call us at

• Telephone: 0486-2229984,0486-2229985
• Mobile: +91-8606740000,+91-8606750000
• E-mail: enquiry@scottiabankers.com, scottiabankers@gmail.com

How much time does it take to complete a money transfer transaction?

It is the real time transaction process which does not take more than 10 minutes.

How long will it take to receive the money?

It will take hardly few minutes as the sender dispatch the money.

Is any document required to collect the money?

Only a photo ID and the transaction code along with the service provider’s name are required to collect the amount for our branch.

How much money can I send?

You can send as much money as you wish through this service.

How much money can I receive in a transaction?

As per the RBI policy the amount limit received in one single transaction is USD 2,500 or equivalent to it.

Whom should I contact for more details?

You may call us at

• Telephone: 0486-2229984
• Mobile: +91-8606740000
• E-mail: enquiry@scottiabankers.com, scottiabankers@gmail.com