#1  
9th February 2014, 01:42 PM
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Education loan for studying M.Tech?


sir i want to know that i doing btech with the help of education loan.and after completing it i have to return the bank loan....if m doing mtech from gate(if i will eligible) then how m able to do this....or there is any facility of this...




  #2  
10th February 2014, 11:27 AM
SudeepKumarSaha
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Education loan for studying M.Tech?

Yes, you are right that after completion of your B.Tech course you have to start repaying the loan to the bank. If you want to pursue the M.Tech course, then the interest will be accounted as compound interest unlike simple interest which was being accounted for the entire B.Tech study period of yours. This is irrespective of the institution in which you are seeking admission for your M.Tech course. It can be IIT or NIT or private universities but the interest will be accounted as compound interest and you can repay the loan after completion of your M.Tech course.

If you want loan facility from bank for your M.Tech course too, then you need to write an application requesting the principal of the bank to sanction the loan. It is at the discretion of bank that they will give you the loan or not. They usually do not give unless you get admission in the top notch IITs.




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