#1  
28th March 2022, 10:44 PM
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Details of prepayment fine under Education Loan scheme of Indian Overseas Bank for BCA(H) aspirant?


Hi everyone, I was searching for an education loan scheme for studying BCA(H) course. After searching I thought that applying an education loan from Indian Overseas Bank is fine for me as I have an account in this bank. But I am unable to understand the prepayment fine. Can I know about this particular term?




  #2  
1st April 2022, 04:52 PM
Hera tabrez
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Join Date: Oct 2020
Location: Kanpur
Posts: 4,378
Default Re: Details of prepayment fine under Education Loan scheme of Indian Overseas Bank for BCA(H) aspirant?

There are no penalty charges for prepayment.
One can prepay education loan anytime.

The RBI has ruled out the prepayment penalty on education loan in India for all public and private sector banks.

Banks have no right to demand prepayment made during any time in the repayment tenure.
Do you have any question? or have anything to say?



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