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#1
24th June 2016, 05:43 AM
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Drawbacks of Bank Education Loan for B.Tech aspirant?
Hi,
I am the student of 2nd PUC with Science. I want to study B.Tech after completing my 2nd PUC. But I want to apply for Bank Education Loan. Kindly let me know what are the drawbacks of getting Bank Education Loan? |
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#2
26th June 2016, 04:58 PM
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Re: Drawbacks of Bank Education Loan for B.Tech aspirant?
Drawbacks of education loan :-
- You need to pay interest which is an added expense apart from the loan amount which you take. - You need to start repayment of education loan after six months of completion from the year of your passing the B.Tech course even though you do not get a job. - The rate of interest is high as compared to other loans, usually in the range of 13-14.5 percent. - There is a limit in education loan, which is 10 lakhs for study in India and 20 lakhs for study in abroad. |
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