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  #1  
29th March 2016, 08:39 PM
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How can a Bank treat with a student who is abiding the mode of repayment in Education Loan?


Hello Sir,
I have one doubts. Suppose, I have got loan for my education and after completing I didn’t get job. Then what will bank do with me or with my co-borrower I mean the guarantor? They will force me but in what way that I want to know?




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  #2  
1st April 2016, 10:03 AM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: How can a Bank treat with a student who is abiding the mode of repayment in Education Loan?

The bank will take the following necessary actions.

1. It will wait till six months after the year of your completion of the course.
2. Then it will send you a notice stating to start repaying and a definite EMI will be stated in the notice.
3. If you fail to start repaying, same notice will go to the co-borrower.
4. Still if the repayment starts, notice will go to the third party guarantor if there in your loan request.
5. If the repayment do not start, then it will take legal action and will blacklist you in RBI account so that you never get any kind of loan in future.
Do you have any question? or have anything to say?



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