Education and Career Forum

I was searching for an education loan scheme. After searching I thought that applying an education loan from State Bank of Hyderabad 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?

Dear user, I'm sorry to inform you that State Bank of Hyderabad (SBH) has merged with State Bank of India (SBI) and is no longer an independent entity. However, as per the Education Loan Scheme offered by SBI, there is no prepayment penalty or fine charged on the borrower if the loan is repaid before the due date. This means that you can repay the loan amount as early as you can without any additional charges. It's always advisable to read and understand the terms and conditions of the loan agreement carefully before signing it.