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#1
16th November 2018, 10:05 PM
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How can I repay Education Loan to Bank of India if get job in Australia after completing MBA?
Hello, if I get education loan for studying MBA course in Australia and get job there then how can I repay? Actually, I am ready to go Australia for my MBA course and they have told me that they will give me placement and I have applied for Education Loan of Rs. 20 Lacs from Bank of India. So, if I get job in Australia then how I pay my loan?
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#2
18th April 2022, 06:10 PM
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Re: How can I repay Education Loan to Bank of India if get job in Australia after completing MBA?
The repayment of education loan doesn't begin immediately.
They provide repayment holiday which is inclusive of study period plus a moratorium of one year or 6 months after getting the job whichever is earlier. For repayment , make a 5 year plan , consider each EMI paid as an unloading exercise , the more you pay the lesser burden you bear. Create targets for your saving so that you can meet the payment. Put in a bit extra money along with every installment towards repayment. |
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