#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?




  #2  
26th June 2016, 04:58 PM
SudeepKumarSaha
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default 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.
Do you have any question? or have anything to say?



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