24th June 2016, 05:43 AM
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Disbursement procedure of Indian Overseas Bank Education Loan?


Respected Sir,
I want to take an Education Loan for higher studies. I want to apply an Education Loan in Indian Overseas Bank. I would like to know that how the Loan amount disburse by this Bank? Kindly tell me disbursement mode.





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26th June 2016, 05:04 PM
SudeepKumarSaha
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Disbursement procedure of Indian Overseas Bank Education Loan?

Disbursement procedure of education loan :-

- You need to write an application to the concerned branch manager for disbursement of loan amount.
- You need to mention the amount which the bank should disburse as education loan.
- You need to attach fee structure letter and should also mention the amount which you are paying from your pocket in addition to the loan amount to meet the college expense. This amount will be accredited as marginal security deposit.
- You need to mention the mode of disbursement to the bank like transferring to your account, NEFT, RTGS, etc.
- The bank will perform the disbursement within 1-3 working days.
 
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